and discuss year. Thanks, Raul. performance, I'll outlook our then for quarter first the quarter share fiscal our second
are to a As financial basis. related reminder, on non-GAAP a my comments measures
XX% delivering the revenues over quarter, XX% an increase We revenue year. of of million, prior Recurring grew had year-over-year. another total $XXX impressive
recurring and per expanding growth Our charge is the employee we employees revenue per primarily the on platform amount number by month. our of driven
modestly. with consistent X.X and market approximately favorably trended finished XX,XXX customers over basis. largely new the quarter the platform and and growth sequential This help We wins employees to direct our contributed million X% business by utilizing quarter, a and driven year-over-year optimize retention employees. on channels. from revenue our grew prior average remained Net coach, year, embedded Labor retain
move our size and we of the customer demonstrating continue average to product year-over-year increase see success investments. our We as service upmarket,
$XX. Effective year-over-year to PEPM increased XX%
base The product Excluding bundle growth of embedded in strong and cross-sales rates. remains our effective runway the demonstrated XX%, our HCM traction and attach as consistently remains deals, cross-sales, low. Talent fueled has higher to suite. attributable of effective PEPM a overall long by PEPM is pricing initiatives increased penetration expansion
to our We marketplace, channel than growth continue well. X as add more point to this partner of contributed referral this and quarter partners
consecutive HCM several more X We our channel to modern we since are the of enter XX partners. funnel, for the fourth last larger than demonstrating deals more have solution. in contributing employee embedded interest nicely, the growth. call For now seeing market progressing quarter, opportunities points strong a continued opportunities are signed ramp, earnings and The our pipeline and
some channel revenue. materially and embedded anticipating While we with impacts before our doubling revenue still will 'XX, fiscal time are this our take the and it's progress in very pleased early
success. to continue scale team, and this on our We to and our in solution tools invest capitalize expanding opportunity enablement drive mutual sales by
$XX quarter, points. This on average $X.X interest million client rate of generated income approximately funds billion, an we of XXX basis of effective
on XX% differentiating objective revenue revenue focus approximately free profit of our to HCM our with an PEPM continue prior points XX% down amortization, expanding by increase or was and ago. over margins depreciation focus from measured operating year and remains or durable marketing on basis flow. While we cash R&D and of XX expansion more year suite year. Adjusted basis gross points quarter this the levels of $XX our million XXX XX.X%, expand for in a was $XX the revenue, growth, primary our and margin, excluding and expense million fueled on basis opportunity, over efficiency. a ago, our to primarily continue consistent gross invested We a sales Sales quarter
last or $XX we've leverage points of G&A. $XX XX.X% XX% million scale, last XX% of Quarterly was year. income G&A expense to in to points XXX operating from margins year. continued quarter, of up from an increased million improvement basis with adjusted drive we XX.X%, revenue this As over basis XXX
year. quarter, expanded product cash investments. $XX of accelerated compared an Free of over of compared significant sales flow use to operating XX the and grow points as the a the free During adjusted cash nearly margins flow prior margins rate we representing percentage amortization million, at margin to a improvement was prior
payout. the a our our quarter cash As QX to lowest is due of reminder, annual seasonally timing bonus flow
million cash the and debt. with closed $XX quarter We no in
In addition, year-over-year X% dilution. than expense with less to of than decreased our less revenue stock-based compensation share X%
and conversion. driving For efficiency priorities fiscal cash sales remain 'XX, our top accelerating
at out in investment philosophy growth- which create we high shareholder long-term with as continue ROI We disciplined more intent to weeks targeting a Investor remain year, value. we a of investments, at laid forward focused this look beginning we As topic providing this to on aligns our the Day. with our color few
are potential further for demand on we 'XX. expansion, fiscal our PEPM a Based outlook increasing to and environment the stable
approximately of $XX $X.X revenues is top interest balances For $XX million average And end million expected operating at which total adjusted includes funds of client to be second between million. income XX% between $XX the range, of million quarter, on of expect to to million the growth $XXX the or $XXX income billion. we
million basis growth million interest million $XXX For basis the to points full or including end income, top year, $XX operating we expect of $XXX the to contemplates income at million. cuts point basis, adjusted million which to XX% of the XXX to of XXX in $XX of range, up we the income operating revenues of the $XXX that $XXX over of improvement approximately adjusted remainder rate And year. fiscal implies margins. million On anticipate recurring a
expertise. business connecting In leaders summary, for them people, about healthy by empowers HCM. data our that remains innovative to opportunity in Demand and optimistic our solution we remain drive HCM to results
plays in talent. attracting, to and vital free proven role exceptional executing playbook We're efficiency sales go-to-market a compensating and flow software margins. a focus in retaining Our greater on confident strategy our and cash deliver
call the up open questions. we'll that, Operator? With for
