Steve everyone. you, Thank and good afternoon,
release. unless items on today I compensation basis, stock-based otherwise, our operating identified expense, other indicate excludes discuss non-GAAP results comments reflect earnings results, and which special QX want as stated Before in that such a my I to our Teradata’s items
everyone found earnings investor.teradata.com. on we that our webpage reflective made also and since XXXX, on on year-over-year our and are reclassified Relations into Accordingly, at earnings XXXX on I revenue announced remind out change non-recurring earnings revenue it the appears into metrics can we managed not and perpetual street the that from XXXX. the financial reiterate, I To in beginning for in I reclassified discussion revenue we be XXXX. use our document want quarter key prior of reporting numbers to will Investor ARR recurring the first my that on And XXXX full-year provided prior of for the fiscal some commentary and ARR call and Additional third-party for trends segment based of related amounts change. the full-year reporting models consulting in reclassified that comparison non-recurring on revenue amounts the is comments reclassified to and the And of revenue. recurring call revenue. outlook based related cite the services a software comparisons
For numbers, page more those for investor.teradata.com. on information fiscal reclassified our document to at discussion Investor and our quarter refer XXXX fourth earnings Relations of please the
move to Let's on for the the results quarter.
as are we exceeded solid our ago execution exceed Teradata that fit non-GAAP it The to pre-announced strong became very off our our provided profitable strong in product We EPS. market and expectations for a we outlook evident we team, team's GAAP once the would quarter weeks customers, first quarterly cash We non-GAAP materially market GAAP a to flow. continued our cloud the two due EPS and focus results by growth, our on preliminary for to year ARR, provided as to well EPS. exceeded the fiscal public go start as and solid outlook company EPS focus on
revenue an forecasts variability in large engages QX difficult. and forecasts of our I could everyone quarterly of XXXX provided As call as fiscal outlook the can because ARR transactions limited quarterly XXXX our our But provide make we do, released in analysis I the I during that this our drivers remind quarterly Teradata quiet enterprise only in to versus of will Steve results the customers. before noted, we at time. we that context large for explained not quarter. normal more annual reasons completed period, want had with earnings that through full go We create and during results information more
XXX% XXX% ARR continued cloud Vantage Public as growth million grew million, by We ARR. quarter natural our XXX with momentum sequentially XX reported the to of exceeded start our year-over-year, growth or multi-cloud of at year-over-year. due outlook ending platform. over Let's
We demand public three customer continue clouds. see to Vantage leading for across all
with been are new move mostly the existing the into forward cloud on today, encouraged we we on new our in we acquisition. pipeline While our potential activity customer we customers, the have customer efforts as see focused by future
very good to where with annual quarter, also very see our are growth continued during saw rates those healthy. we to organic first cloud cloud especially the be strong the quarter. Expansion from Importantly, moved during by who growth customer double-digit customers the we pleased cohorts, continue to Teradata
value ARR We grew On XX, ARR very reported. seasonal us constant year-over-year ARR X% March billion the the gives point the are very headwinds. down ARR, our XXXX flat growth quarter fiscal first X.XXX our Total year-over-year is high at confidence which XX, our and from in given as ARR. cloud by quarter a least XXX%. public declined, ARR and as with be increased fourth reported currency reaffirm was XX% our customers for billion seasonal prior in low March is for our as years, strong it for Consistent sequentially sequential pleased basis XXXX. outlook total for see Vantage to XXXX to cloud, to at Total at X.XXX ARR FX
see As growth such, we during ARR continue our single-digit subscription expect XXXX growth total full-year XXXX ARR year-over-year and in to and reaffirm percentage. of public mid-to-high we and cloud
million increased XX% revenue, as currency. Turning year-over-year, of million, reported strong had categories, performance increase and in in to from we XXX revenue an all total to which XXX revenue XX% constant
recurring million of and reminder, document quarter constant has increase supplemental schedules, moving from million, refer the into key XX% revenue two this is Recurring this impact relations in increase. earnings on currency. and consulting I’ll investor.teradata.com. drivers prior to our a for and total comparisons reporting which year-over-year, on classifications, out There impact no revenues. quarter's website to XXX revenues, has this reporting certain discussion but our were quarter’s at increase of our revenues to you perpetual periods a for the XXX prior first proper revenues revenue a with as XX% net As financial investor increased reported new
customer public First, on where given And significant QX basis but ARR we arrangements we the as that principally our second, recurring customers added in their rather increase few from cloud company basis, we significant high-end expected base, to ability transactions, with recognized us for only on a recognition Ultimately, substantial the two our XXXX strong recurring subscription, of period, extended health of contracts the Generally many contributed mentioned earnings cloud. software arrangements both as premises, one services a see Principles. to our and in the recognition as in major Vantage the may company which different premises I being change also And major quarterly expanded driven a than and had and use revenue annual in commitments on for Teradata a to operate the recurring made another and not under these on in a enterprise customers by recurring a the existing Telco revenue. We terms growth, premises, renewals, components from existing very premise Accounting fourth ratable on Vantage experienced call, U.S. of a may resulted Accepted on these some to that cloud. well foundation quarter strong revenue other than year-over-year quarterly.
you rather of impact revenue ratably of million XX changed quarters each recurring XXXX recognized on term rather XXXX revenue types not We first we in public our but we these not The of focus accounting XXX% and our outlooks, full-year overall not transactions the included prior revenue cloud the four revenue. quarter, total the across This recognition resulted these in by few XXXX. not these caused is have within significant impact transactions the with of in recurring timing of contracts. will our earnings or than call, These not the We quarter. annual plan approximately economics first the policies. in not associated XXXX stated have future we importantly, in the see arrangements transactions. and during these to the revenue. each fiscal the impact significant reason in quarter will outlook. were changed. multi-year recurring the of to quarterly of variability of The and recurring encourage timing providing a revenue revenue amount impacted. was not ARR XXXX recognition growth recurring of did are these same Only Only of And year few be year-over-year There reported recurring this beyond of any transactions why
and year-over-year, Turning year. of perpetual we comments flat million revenue, of growth ahead showed of the to beginning XX at revenue the provided perpetual was consulting but outlook the as reported
as year-over-year. not While revenue primarily go-to-market emphasizing third we XXX mix software revenue are decrease our and deal in to due perpetual XX than products. we to Consulting in anticipated, X% model, perpetual performed reported party decreased better EMEA from million a million
revenue by comments fiscal throughout improve to XXXX. and our in of gradually XX% the we outlook to last quarter, consulting first As year-over-year anticipated decline we noted XXXX, quarter in
revenue well partners resulted Our engagement around trajectory of the the of world, quarter. engagements better first with quarter direct performance ahead execution in with increased joint in as customers that and engagement we that was both saw from
points We percentage X period last same profit, is points than Turning than approximately than in was million last gross greater and approximately greater percentage generated dollars, XX XX.X%, to period margin gross which the QX higher XX profit gross XXX last year's quarter. million an better more than greater year. rate at gross our subscription amount quarter, million primary sequentially. and of reasons total a by improved recurring driven XX The been efficiencies revenue margin and last unchanged despite we versus were: prior cloud higher first, had year, revenues
driven were than was higher recognized higher quarter that mix. and driven last, revenue in more dollars I Second, gross profit mentioned annually the higher recurring gross rate the revenue dollars third, gross profit from margin profitable anticipated, than previously. perpetual margin driven both perpetual by deal by directly by revenue mix. benefited consulting than And And anticipated anticipated
in to expenses, XXXX, XXXX, year-over-year high expenses based commission a SG&A focus spending on fiscal due total to is in a less operating QX in when our operating XXXX expense less X% Turning operational compared This execution. discretionary efficient bookings QX traditionally cost to primarily year-over-year, were lower and beginning sequentially. down and XX% sales
we reminder, in to a funded actions drive As operational QX strategic undertook in initiatives. our reinvestment cloud efficiencies that some XXXX cost
a earnings per basis recognized $X.XX the on $X.XX to To the context some differential, full-year XXXX. provide $X.XX on provided drivers XXXX EPS. full-year and gross consulting margins, outlook XXXX are better main operational using attributable $X.XX than impact Turning midpoint. share, to revenue revenue and the has no share related and in the impact quarter, higher expected EPS. growth earnings related revenue, driven quarter where than basis $X.XX full-year This was The annual recurring of the per following revenue our is recurring The higher an when $X.XX and significantly approximately of higher to quarterly of range transactions was by remaining throughout higher perpetual will by gross of efficiencies. expected $X.XX few last first instead margins, on this exceeded in
the margin, Turning driven favorable cash of working to provided operating cash collections, of cash flow quarter to at the the was in free the capital free cash had other Free strong the generation flow needed free least flow of outlook higher year. XXX cash and annual of excellent at an million, flow, we beginning XXX ahead by we dynamics. pace quarter well achieve
XX to we and in previously in XXXX an payments approximately related million was fiscal of of is the total paid paid of As expected XX XX XXXX our actions, We million second to expect during during About to XXXX. the quarter total cash cost XXXX We is to update that payments fiscal first quarter. now to make quarter million cash million payments be cash fiscal the to paid XXXX, first of the of million. XX XXXX. and be of XX remainder in million remaining million remaining QX be the the fiscal fiscal during XX expected XX expected paid
back balance Turning strong to price year. we for or shares stock at of as total, this and X.X dilution in offset to our XX shares we back an of sheet issued million advantage million take buy $XX.XX stock buyback, average bought
and and revenue XXXX comparisons we in beginning XXXX. earnings I revenue into consulting year-over-year comments the reporting for based outlook, we that Accordingly, related outlook reclassified third on second our services announced will And full-year and reminder, the reclassified and XXXX and we're call. recurring non-recurring for party based full-year for revenue. reiterate and related and of prior the amounts Turning providing fiscal financial recurring cite revenue. our XXXX, revenue ARR quarter the a revenue on on of out to quarter outlook as the is ARR perpetual second that software reclassified my into comparison to change from a in non-recurring is the managed made To
in quarter numbers, information those our more for discussion at of the investor.teradata.com. webpage document reclassified to fourth please investor earnings fiscal refer our For on XXXX relations
December revenue XX, expected X.XXX grow cloud outlook are percentage and is for our XXX year range from at For X.XXX Total grow December is billion December in percentage the ARR restated Total revenue fiscal at from single-digit full-year, year-over-year of to from recurring single-digit year-over-year December XXX% anticipated the least XXXX. billion of year-over-year Total XXXX Probably million revenue. to balance in ending grow at to XXXX. is the billion the ended for range is low-single-digit XXXX. for mid-to-high restated grow we mid-to-high ARR year-over-year the percentage the balance XXXX. range reaffirming year ARR the expected anticipated in XX, XX, X.XXX from to XX, the the
$X.XX, are the midpoint to EPS which in earnings previously at XXXX midpoint our is provided. raising full-year are from We range range of the and fiscal increase of be new $X.XX Non-GAAP free to a the the of outlook. cash expected per diluted $X.XX $X.XX flow non-GAAP share
regarding mentioned by of rate average outstanding. is is but diluted higher the and tax weighted in full-year, offset comments shares to first $X.XX $X.XX I my XXXX results, flowing quarter As through
full We be outlook at the least the year are million, at our year million XXX for the flow raising from EPS of to Free of further $X.XX which prior is expected to an XXX the by cash range in is [XXX midpoint. million]. increase outlook
quarter, perpetual in and roughly margins your opportunistic approximately We operating margins at and the QX to to to QX QX revenue markers revenue declined points year. QX. rate be have from full-year prior the XX% second slightly assist QX anticipate the XX to to year, QX consulting by and be basis to XXXX. We up XXXX to the down you quarter flat anticipate of recurring expect of the XXX tax be be modeling approximately to XX repurchase few with to in to to up XX%. be QX quarter to expect QX about We prior revenue with authorization XXX from to comparable share share a in continue quarter provide now a points third gross you be the approximately to XX, we points million amount. approximately from basis March Similar XXXX. buybacks basis last the wanted comparable We of
XX price, stock for in expected average year-over-year Public XXXX to in of million to the and ready cloud ARR full-year about fully quarter second XX with diluted diluted in million of second to outstanding we be in weighted is are purposes, And to for outstanding the Non-GAAP grow the take the the now weighted EPS $X.XX to share XXX earnings calculating shares Given fully With both average is that, or its the operator, shares follows: for assume that, XXX% impact rise as million outlook quarter. $X.XX. at we range per and the questions. diluted our sequentially. for range least
