S. Clevenger
same you we hear by providers I the want all components to pieces that afternoon, to about. to on Louis, sure the about relate SaaS software various you and revenue the talk page we're first that to revenue good or make of components about the start software Thanks, you how everyone. with revenue talk reviewing other our CCaaS
nonrecurring comprised of revenue is most X% software revenue. SaaS services fact. professional services to professional nonrecurring recurring in very our little companies, had X%, Like revenue historically, and revenue subscription We've
customers So our vast subscription usage other And revenue, subscription revenue minimum revenue contract, is value that software contract, we for which usage the excess they've revenue we above providers, that contract revenue. majority to the of XX% revenue, call is recurring comprised us we vast, historically. CCaaS committed usage under which revenue our and under call like to XX% of build
form, hours revenue analytic metrics. of seat of of revenue example, usage the WFO our usage of and and of time, minutes speech CRM the upon some It's of other all processing are excess products and usage based number like Both messages, X-way software sort. contract voice, some licenses for usage-based
contract some is as value the and described the minimum some minimums in earlier. falls excess of under Just
our divided by revenue revenue We simply and call fairly to contract contract constant X.XX relationship variability. our between the revenue which COVID-XX revenue. total is total pandemic, each averaging Prior with the multiplier the quarter-over-quarter multiplier, was usage little quarter usage the
before each going quarter less to even beginning variance back In of than XXXX. the in fact, X%
Investor financial walk that quarter with revenue quarter. figures a I reminder our So that backdrop, reconciled through in are Relations start the all section and a results results you our as discuss I'll non-GAAP second with the on all now I'll that website. for our
than first quarter $XX.X year for quarter XXXX, our the higher the with in revenue our subscription second revenue historical the and last total the of contract quarter. revenue second split revenue. was Our and and consistent more XX% strength than X% was quarter continued higher million, in by underpinned than I X% mentioned XX% total less services Like professional than revenue this earlier, of
in X million quarter calculation. of revenue versus the assuming subscription XX last which the component retention, XXX% and first as of from revenue the recurring the was continued improve are our which net new our last revenue second the quarters. in quarter. predictable, of you metric, XX% remind in strong quarters revenue period recurring our And the in second quarters our prepandemic revenue, continue than pandemic. of quarters is period, the primary quarter last quarter was prior X which only several prepandemic Remember, higher remained XXX% $XX.X by quarter, the versus the revenue year customers X that quarters improved range We to metric retention underpinned revenue XXXX. the consecutive the to recurring sales retention X% will of XX% of from to for was a contract quarters beginning in bookings I'll same for believe had customers the those in fewer measuring in net to net the the next captured subscription Contract trailing higher up subscription that The leading revenue, the revenue than XXX% and the and healthy this customers that prior strong
driving of year, are under of were regard, and year impacted the up and period our are last the in quarter our Our the commitments confident bookings, in first strong in this new pandemic. first same onset revenue new added that the was by outlook growth which XX% versus which revenue contract contract half sales the
revenue are We pipeline, sustainable our believe momentum we contract drive going in forward. which growth seeing our will strong in
in X.X The average the of average, and quarter second X.X was X.X the by new of XXXX. quarter the number of in second in logos for from products signed last quarter on up up year
earlier As we and direct demand Louis agent customers products by also the exciting new existing our our this year. through us These sales are in sales new clearly more our to new customer bring launched represent the and our in channel expand whitespace opportunities business, existing channel to and with ability customers, that drive base described our to new are our giving earlier, motion. products helping us both products new
revenue, our quarter quarter of quarter, the relatively was last The in to we period is quarter The higher by X.XX this $X.X multiplier experienced divided than that I usage total revenue significantly as other excess lower X.XX which, the lower the and the contract second pandemic. first than than last before, lower quarter, the average noted steady second beginning of we the of X.XX component the up in XX% second for but leading achieved for of million year year-over-year and the our revenue, the quarter, subscription X% revenue, XXXX. usage totaled
we multiplier In X.XX is fact, that experienced. level lowest a have quarterly ever usage the
received provided forbearances have have CARES current the return a of to of the normal Reserve, the impact the direct reflecting course and by abate to have data stimulus allow expecting financial we both York uptake that Act pandemic, consumer been according remained credit the beginning operating the the pandemic more to from While the low consumers to of markets New aggregate over lenders. rates since and by an declining offered the and voluntarily delinquency in Federal cadence,
year. cost towards extended and to collections The benefits, higher-cost XX% credit This stimulus that actively rent our and and debt, activity drove allowed loan have lower collections from their allowing mortgage their last reducing those flow abatements enhanced revenue achieve forbearance than servicing balances targets outstanding cash consumers and in down debt forbearances, normal collections and coupled less customers student our financial of unemployment with in has impacted -- marketing vertical call market thus to directly activity card with paying the the conditions. direct redirect and
collections seeing Reserve, and point are recent the from measure which York X% the a is indicator again quarter the that nearly since of towards of having our activity showed number quarter the that indicates customers' the new released activity New recent of However, most inquiries, quarter second quarters, demand, XXXX. increased in signs data, an coming in recently and over months the we of previous credit increase credit consumer second after the in Federal declined
guidance temporary. that Notwithstanding for predict has unpredictability implications address excess vertical, we increased collections optimism usage. into and on note when it forward-looking usage for it's our translate I'll difficult to a in what very our believe this the of will of remains moment why the us on this revenue
out million cost the SPAC bonuses earned compares departments up XX% second the by This margin for year and transaction were into whose second individuals adjusting cash nearly that Our that service to adjusted of last quarter and for $XX XX% quarter last after equity was our to XX% line. of from cost quarter. related gross roll the in
CCaaS to revenue are spending the Louis not call. earlier this we which growing excess adjusting was capitalize the business reflecting expected loss quarter negative quarter, as we're in making million a last of year the of we second on adjusted Despite and $XXX,XXX not opportunity, the vast quarter across $X.X in a market quarter, performing investments [indiscernible] the accordingly. EBITDA and Our last our our usage described for aggressive the versus
We to spending and adjusted heavily aggressive reflects the opportunity, lean are that posture this EBITDA our quarter. continuing into loss
by of triggered closing were transaction. SPAC stock-based $XX the basic Our equity payouts the quarter for the and impacted earnings the incentive both and by per compensation on $X.XX share a negative bonus basis, million long-term a diluted of significantly
don't other for business, CCaaS $XXX,XXX, is centers the cloud that data the need level public Our reflecting are own a this CapEx the support quarter for which to fact and totaled many we leverage our providers. the able for CapEx ongoing successfully software relatively normal to like have
We million of cash. and also $XX $XXX ended the with debt of million quarter
XX, nonoperating for current out $XXX result quarter bonuses SPAC-related to and were expenses portion a the that forma unpaid adjusting million. after to certain SPAC employees cash the be end transaction such of the pro business payables, of transaction of combination However, nonstandard former and paid was cash the as the as June as at of
Finally, our forward-looking guidance.
to of quarter, expect land contract third third to higher million our million, we year. than which between quarter $XX.X the $XX For revenue and would XX% last be the XX%
total We prepandemic million the current the level level assuming X.XX be expect the multiplier for usage versus X.XX. third quarter at the our to that in revenue pandemic-impacted its $XX and million, between remains of $XX range
over. of path there in excess in unknowns the markets in no we're just overall many future any guidance our path any continue and the seeing we and point a and particular, stimulus While to variant extend set out recovery our today near-term any believe to to of to economic have usage federal might some there variants recovery signs are we the towards impact that this on including and consumers. the that metric, revenue governments stake on form Delta state that activity control of too credit that normal the a in future
revenue year guidance posture same XXXX with as the respect our full taking to We're well.
remains year, past in year-over-year we've full would in to growth we're total in in these $XX.X to which total $XXX revenue, revenue consistent the million to year-over-year be contract would of contract million given to is XX% and guiding with which with million the by XX%. our For $XX.X be of XX% respect to underpinned revenue, the the At strong million XX% $XXX much revenue, contract and revenue ranges to growth predictable. more outcomes, indications
tailwind to and strong as environment it XXXX giving it our total we're are While year-over-year XX%. and strong growth given our when a us economic to our revenue base, revenue growth happen. this revenue minimum a of not substantial for rate a able a reaffirm formal significant contract point, revenue will business recovery respect provide growth uplift towards and we in normal provide subscription guidance rate when contract of visibility Clearly, with contract the at strength a into growth comes revenue model, more with have does
I'll And to back turn wrap Louis over with it to that, up.
