demonstrates transition recurring that a is mix to Thanks, interesting I an our dominated revenue reached quarter, John. and accelerating. that point definitely We this by inflection revenue think it
challenging SaaS transitions As model et time most transitions exception. upsetting for certainly revenue complete. revenue until a losses, debt to driving of most customers you typically We're incurring one know recurring the the cetera companies, are from
network are sales substantial accelerating. growth to from is profitable continued is We process, strongest and as continue strong recurring the abating, and is value. to at from an already focusing certainly drive revenue generate balance on in people sheet, our solidly increasingly recurring cash revenue remained shareholder revenue declines top we've grow tier revenue and The history. transient, we therefore seen this our Through the
do sight should for increased assuming our recurring, is rate Given line to the What growth. us We of recurring may run our grew provide begin no recurring the quarter on quarter, subscription But, more to quarter. subscriptions investors? incremental X% as by first than our this the Please not X% recurring the but day revenue revenue of each new the of remember, our quarter for the monthly the December mean X%. quarter. rate revenue in December, end run revenue throughout begin subsequent of to
XXXX the September Our September X%. versus XXXX, September rate was exit in meaning quarter,
fact, interfaces doubled So, our in in accelerating. demonstrating pace months the three clearly,
We expect investors higher the revenue We rate so into going fiscal March on can forth. digit in believe view our XXXX. to and year than in double for December, rate recurring and exit be starting so
Since now, revenue rate approximately XX% forward. growth of that surrogate be approximate an growth go recurring topline for total our we is as should our
quarter of other revenue negligible in and marketplace a third revenue revenue than is our was over XX percent plus growing. row, time recurring. For recurring One the remains total
the is out, proof in the pointed John numbers. As
believe both is strengthening the important our sheet. maintaining that's that at I'm continue balance while to certainly strong is overlooked king, proud balance time, is in the profitable days. still Cash case. critical, growth particularly we've our transition these I achieved something still largely this profitability same and sheet
our balance Our it gives customers and them comfort. demand sheet
talk around more or might barrier a for deep entry customer fact, business, are In to of a durable network, moment, services about and we'll moat bit white really balance who sheet outsiders that seek our start-ups a this. our displace in
upsells further focus We're progressing, how about fact customer is on in with little base more penetrating that later. very a near-term we're about cross-sells. and current our excited Our bit
performance will financial indicators me to to contribute performance future. speak the the which Let in key
the a number system. of perspective, connection our them. XXX,XXX Growing as scale. metrics key we nearly and connections and importance the indicator our scale compliance in From do We internally network because, our growth had two network number network the ultimately the of the have First, between future facility of profitability. connections follow, XX, we of is of it's participants that December in of level
of of Our the total connections segments across multiples three is business that. all
ago, connections. years compliance four perspective, a couple thousand a of had we for Just
Another metric all enables and today in call platforms, About our growth we and the what across XXX ago, to its participants expand. XX,XXX of have land network size follow numbers in customers or do that's we . our five we number The had years we total around of us system is customers. our of scaling
of of Each For example, suppliers with network. X to XX Tier hub these suppliers chain X their et hub upsell compliance added in cetera. year both has turn our take marketplace, opportunity. leads our every paramount an an additional suppliers, Flawless opportunities, execution new with initiative, Tier such to about focus on to be expansion is and brings supply own our representing it and as, the offerings,
know As now, you've our if customers come I to always. usual, me first, listened before
pace network The is eye our the to on Keep opportunity of rapidly. your is expansion it. enormous and accelerating
have We're initial participants. success. size numbers John based driving stream added our the substantially of in team opportunity growth we of As those mentioned, connection recently numbers with our size of our on focused and the the the on to both sales associated and
Our growth to revenue. drives more it we closely metrics much the than near-term drives have our work in two these do
when does. of double customers way I the The our execution to may impact mean words, it ultimately down network magnificently additions. but on other grows and is on team executing we seriously, our which round magnificently. rapidly need now, for next we In that to not add result as focus The the is immediately is pave revenue,
revenue the second progress made of tangible three the operational we streams. quarter, During each in
Tier We importantly, a over XX hub only we nearly with cumulatively X Let total in X the fiscal since that had Tier of the won total Tier me more quarter, we and year the began. ended hubs, quarter years. December hubs. a A We start Tier XX compliance. significant added XX customers ago, we've the year added with X X
by we've additional dedicated added one as two This accelerating mentioned, to only and I growth dedicated was generated salesperson, tier this resources growth.
Xs initiatives Our end to nearly on be XXX% will working that fiscal the increase. just are marketing Tier reach we're track the total a year, XXX probably of by under that
a and in as, brilliant customer XX,XXX. this this the more XX% customers a the short self-fulfilling. our network the to network customers, mind year the nearly for add effectiveness join next participants perspective, there's we're increases the our our year. size our keep nearly new then such network the The of year could offerings for that XX,XXX becomes the size but continued year network However, becomes We In companies execution. began marketplace. so with supplier the mark. XX,XXX hopeful crossing The of largest each increase run number candidate interestingly is and XX,XXX upsell need an the of increases More other want attractiveness of from
note up not to customer and up users made. after is every the first important that sale to ramp required day of there's work that quarter, the It's on signs some a
exit For rate see now quarter exit revenue double and of indicator as progress. this the December we to rate increased prior recurring the the Ending recurring rate to X% we monthly QX, our best monthly reason, of the mentioned, revenue our is compared end. compliance December, September
ahead, ahead. is So, not double very revenue recurring far digit growth
We have good line of a sights.
We're to have flawless deployment. for network executing we're touch in supply with to Incidentally, and to and the provide United continue everyone currently replicate connect in making is a simply this to clear scale So, the we agreements we food. view States. until this outside chain have U.S. also and place to model we certainly execution based mission the on progress
During out the compliance will ReposiTrak in fiscal first March. the our commence month of we and in Kingdom, implementation first the signed quarter, United
fact prestigious first UK our in maintain and standard, is wholesalers launch great country will in customer account we just the us springboard excellent it and one retailers a a execution not the give most potentially Asia. in Europe the Our to UK the of but us give assuming to in and
our is clear solution a Out-of-Stock supply about win. A management chain little and overwhelming In supply chain. bit
a a to be we performer believe in standout fiscal continue As chain will supply XXXX. result,
much customer meaningful. our is financially, new each typically ad more compliance supply in each While, relatively small business in chain is
of industry accolade grateful for Subsequent critical effective We're our an to was milestone significant skeptical. is, for a Food that's FMI's second in this quarter, Out-of-Stock FMI. the solution It’s and our Marketing the an validates the Out-of-Stock certainly, and endorsement significant endorsed end Institute, the management very as us how issue and solution. always reinforces offering by
age critical just an importantly, aren't out food Out-of-Stock watching issue They grocery Out-of-Stock old expand as a the competitors been have importance online delivery, more of loss watching Amazon, they're have for customers. taken for industry, retailers. like home the but loss more sales,
come what Amazon into on to way. see need, to pull it challenges a order in are their click retailers the beginning just of XX% out from Many now it the and stores, they it. recognize don’t Interesting find shoppers, revenue magnitude couldn't phone, people North stock store. statistic Amazon, comes Amazon's the of physical disappointed they American customers their by these because who started retail find on in
XX% and have Our solution we're in reduced average results vendors by of our Out-of-Stocks stores, using of XX,XXX the across impressive of XX%, solution. of efficacy our Out-of-Stock that's terms today. an were working where
typical I'm a In proud now our fashion, reducing Our would Out-of-Stock the understatement. say effect part execution carefully, that slowly, tool. our growing of usage to be our that my under of of exceeds, grotesque even expectations, this we're
marketplace. Now, the
fiscal two the our to network. new and showing from added albeit marketplace quarter, as in contribution to we expansion starting revenue. We're see the non-recurring first financial, their and marketplace buyers During that's
push us continue it our customers. we of continues is that move to along the and but We both boundaries important and to very very non-recurring to ultimately it's revenue, to well. still marketplace think It
of indeed. growing a our we their three to modes the business. in We source all transact to have supplier have platform to wonderful buyer ability with new it's multiple positioned doing help and our efficiently and well. and some, that a Wonderful In areas uniquely of remained run
and favor is complete, to nearly The of progress plan. that will ahead show drives original the of predictability an sales later recurring made efforts results. operational our X profitability in of point idea well our progress year, up continued to be Tier inflection Our will maximizes accelerate revenue time to was one reduce hit growth topline in our this
I'd progress Tier compliance, goal. our suggest meantime, In our reiterate this transition, through X watching adoption. to judge key operational our we the Under
using have year. several number by and under percent track X the the on the end will, of ReposiTrak hubs to of if hundred We you increase Tier we're on XXX pace, that to by just
grow to we our supply revenue base. And recurring buyers, program chain In supply our rapidly business, simple, marketplace, add existing customer Out-of-Stock programs our chain, new intend on focusing new drive to continue primarily more finally et cetera. to
sheet. So, with our execution, strategic add cash grow bottom strength generation deliberate and we our continue will balance line, to to our and additional
Operator? the for that, open I'd now questions. with So call like to
