Olivier. Thanks,
as driven results $XXX.X with by was results. QX existing customers, detail. and As segments adoption. first by platform pleased year-over-year. quarter continued mentioned, review strength our million, Revenue I as success in sales The broad-based, and channels, driven will quarter's we across very up were was XX% new now well
To provide context. some more
regions. First, channels contributions in strong new with sales saw we across logo QX, additions and
we strong XXX% quarter. dollar-based XXth continued for Additionally, above the retention consecutive expansion saw net our the rate In was first quarter, of customers. existing
to products, as primarily Our rate as driven usage cross-selling is existing newer well products. robust increased by of retention
initial newest our and of As pleased we Olivier with NPM the RUM. uptake mentioned, are solutions
I However, immaterial products note the were would results newest of to that quarter. the these first
segments, we large well deals as including broad-based robust with across across In in Lastly, March, and mid-market in We net many -- SMB and continued this closed strength we were from our encouraged gross each dollar customer strength see rates enterprise, growth retention of quarter, SMB. to base. the enterprise these as strength, segments. similar which rates saw saw
here XX% turning which Now out. two million to to There dynamics are call $XXX.X and billings, I'd was up like year-over-year.
billings and our I quarterly result upsells some payment prior contract from clients duration move that in merely of terms quarter, saw want we semiannual or duration annual come in the reduced our renewals First, a note the while of payment to some terms. this not bit as in to in length, of did terms,
due was planning impact The to the This preferences. billing to and $XX duration flow COVID our amid on their quarter was customers' cash approximately of to accommodation million shorter billings.
efficient still dependent multi-year on payments Given not land-and-expand upfront however, our for we very deals. are model, large
year-over-year. was smaller calculated QX of a for the invoiced was that this there then $X existing timing in Next, second have a was a would impact year. million year from billings growth time but invoiced due in invoiced two been XX% invoice customer, last was in to growth QX sizable impacts, XXXX, and these not approximately Normalizing
RPO QX, XX% higher growth billing increases even million billing in the end of indicates terms commitments as longer-term commitments was or RPO RPO may addition, The In year-over-year. $XXX rather measures Obligations our than Remaining grew Performance altered. and be terms. of when of
previously, of billings tied our accurately momentum the discourage as indicator a discussed of portray consumption not our and As that as is tight the better directly the given and between due business. we growth to gauge relationship is our Revenue ARR. revenue does growth of use revenue to a it of
review income more statement Now the let's detail. in
all reminder, unless otherwise metrics noted, non-GAAP. a As are
of We earnings reconciliation have to release. provided financials a in our GAAP non-GAAP
ago XX% Improvement the Gross in our XX%. efficient cloud quarter in This to XX% gross margin period. million quarter of a margin margin gross the profit and year was hosting. by $XXX.X of in gross driven compares of a representing use was last
well As we product data of may fluctuate the prioritize our within as quarter-to-quarter newer cloud said margins before, acceptable as build-out as in centers and range gross we an innovation development geographies.
$XX the quarter. XX% R&D year revenue was of ago to or XX% compared expense million in
engineering including We headcount. have continued R&D growth invest in our high significantly to in
revenue substantial of outpaced even has growth the our However, investments.
our continue continue therefore to in opportunity see R&D. We platform to meaningful and and investments to expand meaningful plan innovate making
Sales expense Similar period. $XX.X and has the XX% make investments ago compared or to growth we in in R&D, marketing, this and million was pace also investment. sales to but year of marketing of revenue XX% to outpaced the continue substantial revenues
due one-for-one While not to we budget have experienced have cancellation events events other redeployed activities, but advertising quite of COVID, to on generation we the of marketing and a basis. much successfully lead
X% negative XX% loss $XX year the expense $X was was revenue the or Operating XX% with $XX.X million in margin ago to of period. margin income than G&A ago million of or quarter slightly a in in the a compared lower XX% year period. operating operating an million
Beyond the and like contributed COVID I'd in operating above, I'd margin also reduction factors overhead margin that improvement. also discussed gross facilities T&E to other and improvement note to related slightly the the in --
million income average or Net the weighted was XXX in $XX.X based $X.XX share quarter per shares. on million diluted
experienced We have our model marketing a highly R&D. and and on and high sales in business investments efficient a return
that aggressive to positive in of quarters consecutive three investments growth. top-line continue operating delivered our and intend breakeven And income, remains go-to-market. we have to we priority While R&D we note
have hiring We interviewing and very successful in onboarding remotely. been
our and investing before the result, as for corona outbreak. the largely a As plans remain hiring same
We well-positioned are across our and execute are we investing plans to growth. board believe the of on
positive cash Turning to and flow. million margin flow Cash expenditures flow quarter XX%. consideration free million in the the operations $XX.X and cash software capital was the flow quarter. $XX.X cash the was cash or equivalents, marketable a After of sheet in and taking capitalized $XXX into ended positive million a from free balance of with quarter restricted securities. cash, We cash a
the quarter full to our would for XXXX. year I the turn now second and outlook to like
our see expect COVID-XX in and is of deal revenue recurring model, new felt logos. early in particularly top yet quarter will our the not we on have we we It that line results. the Given effect slippage some
net expect see also relatively the rate We pressure some net we quarters. high that despite two retention in may rate, a in next retention downward
some believe adjusted in usage the pre-COVID soon and remain to know a effects rest somewhat guidance. potentially into from It likely the QX QX of to will the the in As March too our it client Olivier surged some model. is given Therefore, And of impact result, of the have April, we have is expect and the we but above throughout as for trend in mentioned, this our quarter. levels. remainder incorporated and year prudent ratable usage how above most
the Non-GAAP year-over-year our with to Beginning to midpoint. be at share growth loss to of XXX the expect is to Non-GAAP operating per $X the breakeven per second weighted million. net to in quarter shares. a million expected revenue is income guidance, represents on million which we $X of $X.XX XX% range be share a expected million in to be million range income approximately diluted of average income $XXX of $XXX based of positive
full Turning year. to the
our quarter we the on for environment. about strength comfortable guidance first and we raising our what drivers Given macroeconomic feel business, and of COVID-XX know our the XXXX today based
be For $XXX expected be $XXX the to year-over-year in million, Non-GAAP share at be operating XXX the XX% $XXX of million, is the revenue net based is to $X.XX per a to to of Non-GAAP $XXX the positive million million XXXX, income to in on average share sorry, of million shares range midpoint. $X.XX represents positive. range income full year is million growth the positive expected $XX outstanding. expected range weighted to to which in breakeven per
cash and into that together talked metric cost the towards we've note guidance, account discourage margins, for our key we while A top not related about plan likely gross our in few our is long-term putting target. are of to as amid would billing running the billings while to for a shorter seen couple of take we the continued QX we as continue to drivers, improvement we do flow continue things in customers to quarters in when impact to this next duration guide models, your COVID-XX,
we vendors may our cloud acceptability. gross fluctuate margins prioritize and As regions, within and our product diversifying development range of hosting a
intention is marketing. invest and and to our sales continue in do so and Next, meaningfully R&D to
been income. below intend we successful operating of neutral to will COVID. in be Then liability. tax non-GAAP $X.X noted, benefit QX, As we we expiration normalize Similar non-cash hiring results. some In related payroll GAAP it during XXXX tax a notes a non-GAAP the adjustment have an it our but on-boarding is therefore, and to And, approximately QX income, for expect operating in million this to to operating income. to
We income expect throughout our approximately $X cash million of based on quarter interest per and XXXX investments.
Next, we to international not have federal entity. a be a expect but provision taxpayer related to do tax our
of the the provision year, are our both full non-GAAP we a given and range forecast profitable expect For diluted, to we full million. be of tax for $X.X a that $XXX,XXX QX Note to that company net a expect share periods. for income year
cash to Lastly, a QX we're Related from about giving employee operations guidance in and $X an while flow in purchase we've both program, things million flow stock cash few note. not QX. to realized to of our inflow
there will cash operations increase $X cash whereby, program decline million, by by no geography, in from effect. flow first from the financing and As is in flow net will a change concludes, $X cash activities resulting million
new our million operations positive million addition, QX. ESPP to will $X flow new cash of in from In produce $X
generation Lastly, which lower and billings in may near-term. we pressure related potentially expect on cash DSOs cause to on duration the COVID,
on flow generation, sheet and the on have no model, balance our efficient cash will cash proven impact liquidity. our meaningful Given this
were the quarter. we business pleased with very performance the in summarize To first
our continue efficiency at in few scale to demonstrated have and a We growth can match model. deliver
the capitalize believe continue environment we well-positioned opportunity plan and of for long-term us. challenges we on the to that investments macro the continued and large to may are the While we ahead that present, for COVID-XX recognize
the we questions. call begin now that, Q&A. With the open Operator for will let's
