The far. what not holds about seen into team Eugene. my place Thanks, of in what excited I have all am be more the tenure, could our have so I days I we stakeholders. future for XX and and
SaaS have revenue a We software high-margin stream. subscription with recurring business a
our both impressed in stories and me not by seen The use confidence portfolio our only the our strategic tools the get products market. of financial products. strong value of my how to set our our grow that am in gives help I’ve our in combination firsthand, own our The we witness, in success the is data and but great of algorithm positioning I ROI unmatched internally business. view outlook. our unique of customer that value from the customers
strong we to turning the results, had Now very quarter our second across a board. quarter
growth revenue We maintain opportunities improving pillars long-term disciplined in while continue to efficiency growth will expect future on and the and invest drive growth. balanced to our profitability, approach we continuing to also execute and and value that
driven very our strong per up million, customer. was additions $XX.X revenue was from growth ago. revenue QX continued a a new by average Growth year Our customer XX% in and
retention Our was second for the revenue dollar-based XXX%. quarter net
increase installed to net expect products, within full tools remain continue as our base. We we revenue and of add-ons to our our strong of portfolio retention adoption
revenue million, $XXX.X surpassed recurring to XX% year-over-year. Annual $XXX million growing
of which in approximately margin, and improvement We significant sequentially. significant a our operating points The X,XXX is improvement X,XXX result year-over-year of factors. reported points basis up a number was
points ability margin and up from benefited our XX.X%. significant reported leverage in year-over-year gross Gross to scale continued gain revenue we basis from higher which margin, and to First, was platform. improvement XXX our
expect XX% in We margin term. continue the above near to gross
We Second, spend our decision we this drive results. across carefully our example which made products acquisition commitment managing the and impressive saw spend, subscribers, subscriber paid where pay is strong efficiencies, marketing, delivering while strategic continue is also prioritize drive customer and total profitability. by new XX% we One execute in of our slow to for to organic growing costs. on to base demand and towards our sustained expenses lowering brand
expenses the strategy, operations on deliver Across plan our staffed continue maintain near to current headcount to the manage are carefully term. our priorities we in strategic We to we growth our the sufficiently and believe manage on company, our business. execute of and
benefited from expenses that quarter timing the also that income Within XXXX. second second the that operating the of now context, expected during in our expect QX we half we originally some happen will of
statement, positive income income Moving our of in our interest down our along The guidance of of was result flow-through an the income the performance, provision non-GAAP better-than-expected surpassing take our to end now to non-GAAP million, $X.X operating high the outperformance that income year of the instead of second the net guidance tax was half of we the place and net with QX. range. accounting-related expect income the timing of relative
and Turning of to in million million the $XXX.X cash we cash $XXX.X with ended quarter quarter. investments from short-term equivalents sheet, previous and the down balance the
the from $X.X quarter flow second cash operations Our was in negative million.
some was offset of income by temporary non-GAAP net our in working capital movements positive accounts. Our
on we from closely income, generally toward Going operations flow non-GAAP a this align basis, but from to net fluctuate forward cash quarter-to-quarter. may expect and yearly
business team I’m profitability, our the the are therefore capabilities we year, guidance Looking the the at in in deliver of have of confident raising and path growth accordingly. and underlying to half our the continued second strong on and trends
and our portfolio with year-over-year We face starting to we are comparison. because revenue more reaccelerate to a expect growth favorable expanding product
$XX midpoint. For the approximately the range in to we year-over-year million revenue expect third $XX the XX% at quarter, up of million,
of $X million $X quarter income expect net We million. third to non-GAAP
$XXX million to we of up to our million, at the prior year, $XXX revenue $XXX represent year-over-year. the million, would For growth full to of XX% are which guidance million $XXX approximately raising midpoint
full quarter also We This to offsetting we also income operating delivered strong our non-GAAP into takes in few to raising factors. the are the $X net expectations XXXX. second for profit account million but reflects million increase year a $X the
euro the the exchange First, and timing our of prior finally, rate the accounting-related X.XX now a but X.XX. assumed expenses I our we in tax second, in the will moment half that provision of the second now shift to increase in some timing quarter, from expect originally year; planned the ago; the to guidance mentioned second of occur of had our
in approximately euros. our expenses of denominated reminder, are a XX% As
In disciplined closing, has and expect enthusiasm will and efficiency I and remain scale started. since to to for shareholders. which approach lies grow grown growth to are business will We our ability drive we while opportunities our value confident our and we profitability a that balanced stronger we ahead my only and in what in future to invest spending, drive improved even growth long-term committed
are With the your of take that, up line questions. to please happy for any we questions. Operator, open
