Global Sales, the Sales highest acquisition accelerated, XXXX Global X% the everyone. marked Gartner. our and another again more rate organically, part of for delivered in double-digit largest year growing than revenue the Business Thank growth you, good business Gene Technology of since growth XXXX. strong morning, growth.
to and strategy functions proposition products a deliver Conferences as with Our and enterprise value across had outstanding is compelling years services all working. Consulting well.
top reported the EPS revenue outlook our we adjust neutral XXXX with diluted as cash The growth line by revenue growth total revenue contract we Top adjusted FX up growth and as demonstrates, of on line million. for EBITDA product neutral discussed was growth. XX% FX XXXX basis. quarters. value $X.X strong points of neutral expect retirements from quarter we adjusted our X%, QX in an XX% to services to world, for cost growth remains about year-over-year robust the free total as XX growth prior growth $X.XX, align financial impacted was of included XX%, billion, flow basis FX in Fourth around $XXX performance continue of and Demand of
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quarter. terms. margin XXst, $X.X We billion report grew year-over-year Our revenue the and a XX% neutral fourth strong FX FX Total XX% Research versus contract value growth neutral Fourth always in a year. reported quarter value contract basis Research XX% in the fourth December basis business was was XX%. at had prior on on an of quarter. contribution
was margin XX% the and full year XX%, a FX points XXXX, neutral basis basis. revenues on XX basis the gross X% prior increased The contribution For by on an up year. from Research reported
performance XX% versus fourth for In the increased both our and the year. quarter, review now I'll prior GBS. GTS details value GTS of contract the
you were and As our a than and UK by Saudi challenging tough to In up we continue compare drive strong XXXX. into like our first double-digit of growth know top the were the XX% growth quarter US, Arabia. of will including we sales and able Brazil in greater Canada, most which we in markets, against Japan, maintained excellence utilizing markets playbook,
CV As primary Gene to decelerated GTS detailed, factors. due three just
on small factor we First, the very of service the impact we've which was prior largest discussed way and calls. and the sell vendors, technology
leadership a slowed changes those Germany economy third, China Second, has environment in those we've of previously, also both And intersected leadership where markets. as change. had sales and in both a changes made we made and with challenges tougher in macro we discussed the and India we
we challenges see mentioned expect over Gene put address and place to time. to improvements As actions in these
of for for our December value quarter, where year-over-year. points the total Wallet Retention of it on been running value. throughout representing the XXst, down contract XX% XX for Client at XXX% GTS remains was has just basis contract had retention GTS billion year. XX% over GTS around $X.X
business because that spend us our each Wallet to every year. with fourth versus the more Retention year quarter rates X% of clients last of new them. Our show value the GTS we provide grew and
growth coming enterprises new through and New business services upgrades. of enterprises is sales from mix of and existing a additional in
and this Wallet difficult related, year. are CV faced Retention with As compares which all we
part to A the fourth churn higher quarter sector client companies specifically we've ended previously. were lower tend enterprises, discussed in a enterprise be in shift the We XXXX. GTS that small was the market. to spending Net XX,XXX These by QX key up strategy, additions the impacted X% in clients. and lower factor with ads of small-tech around compared
the The for as value enterprise well grow. in now at reflects XX% as up to to stands XXXX. strategy of Growth during CV subscriptions. $XXX,XXX year-over-year. number GTS, expect of the continues lap upsell the in increases increase in per We and price per enterprise enterprise It course shift both average contract an
X,XXX had bearing associates we At in the or quota quarter end of X% of increase GTS year-over-year. the fourth an
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and see digit increases We in make as line. These overall productivity bottom expect sales we XXXX strong are improve training and top tenure our continue double the sales and to tools. to to commitment changes long-term consistent growth force on in and recruiting, execution with sustained improvements
expect We the high-single XXXX growth headcount in GTS for digits.
the to in this do XXXX above late growth CV of XXXX. in because are able did early average we while hiring and part We driving
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expect would growth. to headcount modestly growth we resume XXXX, below Beyond CV
by late and versus year The time $XX,XXX contract increased full divided net the count NCVI average headcount brought tenure into to year people down growth sales value get head bearing the was year-over-year fourth of the salesperson higher last period new this down GTS, XX% the quarter or as quota productivity. For beginning per take year. the last
should the year improve tenure productivity. into of and is head exiting average benefits increase that growth this the which moving will of XXXX One moderating count the
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in Our marketing practice XXXX. X% grew
as products some margin profitable more transitioning to begun products We have come up they GxL renewal. marketing lower for
making move continue will our will an through this align and impact change we better have in revenues. the XXXX year. We're as and transition to cost This
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million XX% trend business the of up of GxL On highlight page and provide versus quarter. year QX, value. $XX to new the GxL We contract the new information in sold we business XX prior in earnings supplement, additional
to continue last in launched GBS GxL of with functions year. increased XX% More serves. half up contract CV, products. percentage business and our to $XXX GBS GxL $XXX from of progress the points newly quarter across came year-over-year million the make XX now products QX from new about up million than makes great value of We GxL from each the XX%
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standalone down rates drove for attrition For the GBS. quarter we
an of richer renewals in discussed, were Again attrition fourth GxL result the for the contracts all associates renewal is cost and our of points XXX other having bearing growth. prior our we've For over the down year revenue improved retention engagement up a XX%. impact. the by that of of sequentially we basis this programs quarter. a had end continue Headcount growth fourth increased we XXX in mix quarter, quarter, GBS At of or quota growth to to the as align our was
the the of in we investments growth digits the headcount benefits made. GBS XXXX expect realizing in focus we've as We mid-single on
divided headcount contract value For person. year-over-year by impacted salesperson, year's beginning The GBS, sales $X,XXX up quota value net period productivity the per from last contract TOPO per by significantly bearing or $XX,XXX salesperson. per of increased NCVI $XX,XXX was positively about inclusion GBS
a in the attendees. impacted margin by X% points were was conferences was had X% contribution was in destination neutral basis neutral the with related conferences the increased increase infrastructure revenues same ticket Fourth conference merging XX%. XX% year-ago and up FX were Fourth period. to basis, quarter. million. two of revenues QX growth XX up into one. versus Conferences year-over-year cloud XX%, We FX quarter $XXX XX growth up a On quarter in Attendee primarily by bookings XX% year-over-year. fourth
XX%, For the increase points basis Gross XX% basis a by margin an on was full on year neutral and XXXX, basis. XXXX. reported revenue XX% an XX from contribution FX of increased
versus XX%. $XX FX up was XXX FX X% Turning on year-over-year XX%. quarter, basis XX X%. X% FX to were XX% prior Consulting of was of increased year million, fourth December Consulting. up versus quarter by revenues $XXX quarter. Backlog X% million. last was was Fourth $XXX contribution up points XXst to an neutral Utilization Consulting margin revenues Labor-based Labor-based neutral in growth the basis. the billable up neutral QX was headcount million, on year-over-year or an at basis. year XX%
Our our backlog target. coverage revenue about with of operating X.X provides with in months forward us line
were revenues X% Contract quarter. optimization year prior versus the up
growth of contribution XX% XX% Consulting FX in in basis. FX XX% revenue part the both -- basis, from and Consulting an points a is gross our GTS growth The the the variable. segment Full margin on basis quarter and highly year this As have neutral year SG&A and detailed GBS. XXX neutral basis in up in SG&A on and reflects we earlier past, up of its was on reported the the in double-digit increased XX% year-over-year XXXX. XX% headcount an fourth of was
on a XX% For basis. the basis on an full year, FX SG&A XX% grew neutral and reported
over sustained to of and term. infrastructure will delivering grow strategy to long continue double-digit We enabling capacity growth our sales support the the
process the to cost with infrastructure growth. revenue growth started and sales have enabling We align
In the about moved impact up were X% as or on neutral up Taking basis, have up down neutral was we this FX last was quarter fourth into office EBITDA to underlying on million, was the the in $XXX by X sequentially. adversely past discussed. consideration space service. approximately and Depreciation the EBITDA [ph] part affected about for a in quarter into FX was basis. work. went expenses the of million was X% from quarter as fourth year-over-year due million the Integration percentage additional biggest X% flat quarter. Amortization year-over-year the retirements that product integration points, year, $XX year an up reported we've EBITDA of $X
Net for from for a of adjusted for tax roll net anticipated. our the which our as used fourth the as in year rate XX.X% QX in tax XX% than the modestly the incremental quarter $XX costs financing was for was due calculation interest up associated a higher to tax Net The quarter million floating XXXX. result full rate the quarter. items was we interest incurred up the interest The deferred adjusted quarter million, is excluding rate rate adjusted of was less the of the expense, fixed rate The XX.X%. to hedges. $XX expense in interest income to with income of tax net adjusted intellectual property used we costs forward
QX a primarily in $X.XX, rate. was to lower EPS expectations above tax our due Adjusted
full and $XXX flow X% was approximately $XXX $XX year year strong cash from year. non-recurring lower flow flow XX% costs. by XXXX flow year. payments million which million Operating the from we $X.XX. cash $XXX for full down operating for the was in cash grew and income cash Free EPS as X%. growth last for and and full benefited Free for timing flow to versus the in XXX%. improved interest driven made year free benefits year primarily flow for conversion million. million For collections the XXXX, increase a collections $XXX was year the integration significant were adjusted and divested EPS for The compared year adjusted was in cash working was was other process acquisition our prior improvements operations costs. cash was is was cash and the integration Capex cash year. Adjusted items million, capital the net lower
sheet. the Turning balance to
December Our $X.X XXst balance debt was about billion.
is rate. fixed debt effectively Our XXX%
X.X $XX million is about EBITDA. in stock average Our now of $XXX at of about We gross repurchased leverage quarter times an ratio price per the share.
the we year, million repurchased For $XXX stock. of full
will to capital continue We shareholders. opportunistic be sensitive return as to price and we
our We authorization. have on repurchase $XXX million remaining
Our same. to strategic our through and and our enhancing by buyback remains allocation We our capital returning flexibility capital through value cash deploy sheet programs, M&A. flow strategy the free balance shareholders
Turning to outlook the for XXXX.
approached our a Before the some how of you guidance, details, return growth. to jumping XXXX into give our to we which growth with cost want aligning I context revenue includes
on in will As to convey Based new the the helpful best guidance is you believe to we expect can our business. see, deliver our transparent last approach you building for guidance. based the we be set way your guidance to and revised XXXX. view intended more models. more We've The of we simpler, expectations year, our directly simplify the in what clearly presentation experience we to on providing provide
EPS using cash between and growth and point flow margins starting context cash and EPS the results EBITDA in where point. vary Three else free flow points. Note forecast assuming free on are levels the will calculated everything depending lands. for revenue, additional EBITDA approximate guidance revenue and The that as
driver a XXXX rates our revenue. corresponding contract are XXXX our growth ending value Research First, and key of
advanced Conferences and the backlog up our business We our guidance. Consulting Conferences had bookings high-single is and backlog in Second, metrics solid bookings that advanced revenue Consulting and our are digits. Consulting drive
continue to business. to investing growth. and invested return we XXXX, invest of XXXX, Third, first growth is of typical a And of of future support approach half our we as grow. ahead In through to drive the our XXXX the we
are year guidance of as The our follows. full highlights
Consulting of very expect growth growth We FX an challenging contract optimization of about XXXX. we rates. line growth outlook neutral The our with in compares At result expect X.X%, as versus Research today's Consulting of be about strong of roughly growth growth XX%, rates about revenue these X%. segment in consolidated rates reported rates outlook X%. a year growth in growth reflects approximately neutral and FX for to revenue The of FX neutral FX Conferences
be expect at We XX.X% flat XXXX. to margin adjusted which be for least EBITDA would
XXXX. We tax rate expect an adjusted of XX% for around
XXXX adjusted growth rates about about expect If X%. $X.XX, be which EPS growth We of would X%. approximately tax were the of constant EPS is
flow guidance change revalued had contract details projected are cash flow. note free of It about our full For million. free to about included our on modest which XXXX, expect also FX That's of current rates, at the our Investor $XXX our impact. we year All we X% cash of versus a XXXX is Relations overall very site. year a value important that have
XXXX for at supplement. Our GTS value rates $X.X in for of included the GBS. earnings XXXX appendix the million $XXX is and billion Details contract ending are FX
In XXXX, roughly with terms quarterly the you in be saw XXXX. phasing what we revenue [ph] of quarterly our expect consistent for to
assume also quarterly the for consistent can the below year. line items with phasing last You
rate [ph]. tax be for our our than annual expect date first quarter higher the to We
we our of $XXX not summary, CV new million. In with about quarter the of we quite while to double-digit continue rise. adjusted GBS, sales GBS closed organically to EBITDA and Finally, GxL year of healthy the expect GTS $XXX growth the XX%, million products XXXX, for accelerated growth in in reach to first value X% did contract
XXX%. Free and was both years. was Our income flow year the Consulting from for strong businesses net conversion Conferences and cash had great
formula the businesses Gartner free flow. double-digit growth and will Going into to to long-term apply growth with across combined cost we revenues, drive EBITDA sustained we XXXX, to aligned have our growth continue revenue and cash the
back to we'll call questions. happy Operator? and I'll the take to turn your that, over be operator With the
