good another recurring my and was make with growth annual review discussion profitability with everyone. ARR. board I'll begin across components QX metrics Thank Informatica's revenue quarter quick and above you, key of or all within the of metrics. or up a Amit, afternoon, solid results QX financial our that the guidance
that categories: subscriptions, falls which XX% gradual which Our for sell are into declining sell, self-managed longer no also cloud ARR subscriptions, longer and actively is we on-premise X we grew no and therefore, year-over-year decline. perpetual licenses actively gradually which maintenance a
with workloads subscription new total X.X% customers prior let's self-managed ARR, increase over maintenance start This cloud existing rates. was the net primarily mind, cloud expansion growth by renewal in was and of that stable with year. With an which billion, strong and $X.XX driven
Foreign Cloud $XXX above of subscription sorry, a -- year-over-year the $X million, ARR was midpoint guidance. exchange ARR rates May XX% negatively and million. $XX.X by increase impacted XX% our total million
New XX% and net million cloud subscription drove year represents up ARR, sequentially. XX% now total expansion of workloads ago. of and subscription net ARR with new from Cloud cloud $XXX existing $XX year-over-year a million strong ARR customers
cloud subscription Foreign negatively impacted XXX,XXX exchange ]. [ by ARR about
subscription up X $X.X it percentage strong was the end-user and [ versus was quarter.
Flat ARR, self-managed the XX% which the down X% year-over-year, up into sum points ARR our very to versus at X% percentage error million grew simply million, of expected rate year-over-year Managed in and percentage parent midpoint as At and remained sequentially of better points Our quarter. cloud May QX. XXX%, the level, $XX.X retention in ARR, was subscription last than is X quarter This net global rate flat subscription to points up declined which XXX%, $XXX quarter. net the expectations level ]. X was cloud down last year-over-year the year-over-year somewhat coming guidance. subscription above billion, retention our
by $X.X Foreign approximately ARR million. exchange rates negatively subscription impacted
X% opportunity This for of The [ to Management down customer in Informatica's third of with represents on-premise which ] is in expectations total Intelligent XX% was now the for sold our a line approximately component year-over-year total ARR quarter. Manta perpetual ARR our past, maintenance Data Cloud base to is million. for was licenses ARR. Modernizing the on-premise $XXX large us.
self-managed of have end up X.X% As our based from of migrated era quarter. the and to X.X% cloud, of QX, maintenance we last
these management XX% number we We average data have including a year-over-year. life-to-date X:X master modernization ARR in uplift half and number power deals In QX, of QX, grew year, as in of first closed similar the on migrations, cloud this the deals migrations. ratio a center of modernization
Cloud X summarize our or maintenance of And XX% subscription subscription growth this in the of gradual components ARR the declines. to drove year-over-year year, second performance, X.X% the ARR modernization offset by we growth growth total half ARR above self-managed subscription expect be rate. our to average and growth To of increase, ARR QX cloud summed ARR our ARR
similar trends to as second half of our expect a of cloud-only XXXX the direct We throughout result strategy. continue
to like results review were I'd total our quarter. the Now $XXX second an increase revenue GAAP of for X.X% million, year-over-year. revenues
Foreign negatively rates approximately a year-over-year $X.X million total by exchange revenues basis. on impacted
those factors: development our important attractive primary result more our professional to an services to is channel support shift were partners. $X.X and than forecast. business approximately customers' of Our partners services the for for revenues our below revenue software related a strategy service X to First, This as services work guidance and professional are due go-to-market May our of original Informatica to an direct a our lower implementation midpoint positive partners, was our are our million as of
which To for into importance first XX% more illustrate the than brought the the total represented year, of of in this half channel wins Informatica bookings. of the closed opportunities partners
length somewhat the previous factor self-managed impacting quarter subscription lower revenue was ASC upfront standard, average of second renewals. term this subscription The less our This recognized self-managed resulted accounting XXX GAAP revenue forecast. total than in per our
subscription XXX per accounting GAAP are not XXX flow impact that is of means self-managed As know, cash ASC for ARR billings and renewals does ASC revenue length revenue or less flow. ARR upfront not billings affected. most on Shorter-term cash you recognized
increased and moment.
Subscription year ago. subscriptions XX% services lower for these which continue and subscriptions renewal to to forecast revenue, accordingly, to will lowering a XX% expect terms revenue We our the discuss and million, X year-over-year of self-managed $XXX total revenue trends, self-managed professional full the we XXXX year, we year of are cloud shorter representing as a remainder revenue GAAP in total therefore, XX% compared includes
Our XX%, due higher renewal year-over-year points percentage X subscription lower quarterly self-managed down cloud rates, subscription to subscription rates. renewal renewal rate was by offset
and Our $XXX of year. maintenance far this rates services of subscription and our renewal was includes percentage million, for been revenues, revenue with down to category up XX% $XXX consistent up $X revenue largely total are Revenues million expectations which in so this and implementation professional our Professional X represented of have points make services the million year-over-year. maintenance consulting XX%, almost were category remainder renewal Maintenance year-over-year. quarter, our rate education and the
to has revenues, greater we XX% that ago, been share mentioned our subscription work services I customers, second XX% Cloud service growing for half assume or subscription of revenue a a $XXX million of year. moment declining as continue implementation As our the partners in expect revenue our this was the year-over-year. trend and of
ARR X rates metrics to from period. difference differ these the revenue growth timing between reminder, period may a to recognition, due and of As the relative
representing revenue, total would The the using to growth committed bookings records consumption-based pricing bookings. QX were grew $X.X to our distribution geographic which pricing million. new unified new XX% IPs. -- multiyear remainder this international last while revenue year-over-year model. $XXX million, business. XX Informatica's of of X% exchange IPU our consume can QX that cloud year, a management X% is using of rates or consumption-based unit, been services, including capabilities products, the have U.S. XX% IDMC our day from representing X MDM cloud revenues higher of and supplier X.X% on of for We our million primarily now second for cloud $XXX approximately quarter, our have customer approximately had year-over-year. CLAIRE also grew represented to IPU, Turning revenue customers platform quarter. in to revenue international quarter We of access platform GPT international
the like profitability our as on of percentage was I'd non-GAAP guidance Net on was Now exceeding discuss XXX of million X.X margins results year our to an was and share $XXX to approximately approximately QX, net $XXX to $X.XX May move unless basic healthy over transitions otherwise $XX ago. was was with on stated. will shares, improvement based growing year-over-year. almost per a We EBITDA Operating income Operating business gross our consistent were and million, income XX% expenses XX%, Please Adjusted $X $XXX count was was margin the income X.X percentage Operating year-over-year XX.X%, shares. points metrics. million. diluted I maintaining midpoint point focused gross increase by outstanding a remain diluted cloud. margin note, expectations million. from million In share our million
free collections for billion spread This pretax eliminating with for on update transfer quarter XX capital will working repriced historical in faster the In we and reducing line Combined term year by interest QX points the save the from our was better paid cash million was cash first Cash repricing with will margin in annual results, of in expectations expectations. an credit I SOFR. flow expense basis in related approximately applicable than LIBOR the the $X.X full after cash basis. to adjustment million, was expected free the and loan half outstanding due to June, linearity. XXXX in million, our $XX tax interest to moment. a line for dynamics. $XX flow unlevered other $XX unlevered Adjusted with
June. resulted an position at with trailing was and increase in million. the debt strong leverage of $XXX of short-term of million quarter the a cash ratio ended a Net We investments of was months a end $XXX year-over-year. net X.Xx This cash plus $X.XX XX in of million $XXX second adjusted billion, EBITDA
Now starting to I'll turn year XXXX. the full guidance, with
at subscription $X.XXX half customer the at we subscription the approximately midpoint. This million range We into representing $X Therefore, second in going of are and our good and We reflects raising ARR million, million We year-over-year momentum consumer-driven subscription $X.XXX strong with the in rates. momentum have cloud of XXXX by ARR very pleased XX.X% FY to be the by $XXX $X million the renewal now our range. we to ARR year. subscription XX.X% growth million, range execution half cloud approximately XXXX, supported strategy, of first to $XXX cloud-only are the confidence year-over-year now and the ARR expect in midpoint billion of of to be growth. representing expect the in by
and are $X.XXX between $X.XXX billion to reaffirming be X.X% year-over-year approximately growth. We representing ARR billion, total
revenues. Turning to total
the professional these the approximately we evenly to We dynamics. split We self-managed and renewal $XX as estimate the between to for about X this year. of services expect million, in duration impact be remainder dynamics saw regarding continue QX same
not strengthening the euro, FX-related all and headwinds of we by compared and recent yen, for revenues upfront and for non-GAAP $XX pound lower headwinds the of million expectations $X revenue expectations any [ billion million range together, better-than-expected Additionally, our cash approximately approximately $X after by of GAAP $X.XX business. important the increased service million that recurring in million flow this change delivered ]. in growth -- and Taking operating million previous unlevered ASC professional to midpoint. range. at the tax updating bottom U.S. pursuant assumptions. raising dollar guidance total income for line to this the low-margin with downward $XX of lower the adjusted revenues for It's that recognition does core We year-over-year FX, understand to our our midpoint and $X.XX against X.X% very reduction software guidance the self-managed now -- are Representing to along revenue due to [ at approximately revenue results free total cost. revenue reflect by lower expect we our are ] XXX,
the to million, We XX.X% million of million representing free $XXX $XXX year-over-year expect now $XXX million in we representing non-GAAP tax be approximately growth be the expect range operating to unlevered income year-over-year midpoint. growth. XX% at flow And adjusted cash after $XXX to to now
third the midpoint. XXXX, we million are quarter year-over-year at ending the revenue approximately GAAP to XX, quarter, Turning establishing range guidance representing of total for the we be September million, the to follows: to expect in X.X% third growth $XXX as $XXX
of expect ARR range be representing billion, year-over-year approximately $X.XXX to the growth. We to $X.XXX billion XX.X% subscription in
of million in We XX.X% year-over-year million, growth. to subscription expect range to representing the $XXX cloud ARR be $XXX approximately
We to in year-over-year range XX.X% of operating $XXX growth. the expect non-GAAP income be to representing $XXX approximately million million,
rates midpoint. the All are growth of at those
of like would pieces provide few additional I purposes, a information. modeling For more to
of be total we First, to representing midpoint $X.XX in range growth range. the approximately $X.XX year-over-year billion third the of expect X.X% at ARR the billion quarter the for to
Second, free to be we unadjusted the of to tax third flow expect the range adjusted $XXX sorry, $XXX in -- we unlevered million. quarter cash for expect million after
with to $XXX rate and that to respect non-GAAP third in expect and rates continue our cash interest quarter QX for be for rate taxes, Third, the approximately approximately was interest paid we forward we million for the SOFR. using full Fourth, year. year, estimate the full XX%, based tax $XX on X million month will
our assumptions. share lastly, And count
million be quarter, For shares diluted the million average shares expect average approximately XXX shares. be approximately weighted XXX third and we outstanding outstanding weighted to basic to shares
XXX average diluted we shares. shares million million outstanding basic XXX full to as approximately to weighted the average expect and outstanding be For be weighted shares approximately year,
summary, In our we pleased the are performance the second and half of year. very first with quarter
consumption-driven on delivering and executing our guidance. XXXX We our focused are cloud-only strategy
for can you open now Operator, the questions. line
