Thank you, Yogesh, and good afternoon everyone.
be remarks to my are on a the non-GAAP all a As reminder, in numbers referring I'll basis.
$XXX.X than our our to For to higher direct revenues range $X.X sales quarter, due both total million, high-end million customers. was OpenEdge partners, guidance of primarily above license fourth anticipated and enterprise the ISV
$X.XX rate. share our range, was earnings grew XX% Our due year-over-year, lower $X.XX the the a per primarily high-end tax of above of quarter for it to guidance
$X.XX For XX% the a compared to was full-year, $X.XX, ago. fiscal in revenue XXXX. million $XXX.X Earnings from per flat total share was year up
offset constant compared to from on down constant of constant our increased decrease currency negative revenue a actual a lower exchange a on for in revenue X% our and million, services X% $XX.X of X% decline ISVs was consolidated a exchange year. lower segments, from our million, due as by at impact basis. actual from basis. a revenue our segment. on Maintenance on at revenue year license million. was to a Looking Professional a X% quarter, X% expected offsetting currency X% exchange down segment revenue from QX $XXX.X And currency AD&D Maintenance currency at of X% decreased small X% in last basis. constant rates on for DCI Total enterprises. million Within License segment. was year, actual lower was in slightly year-over-year year our a more QX as AD&D of constant $XX.X compared revenue last the a $XX.X a revenue was basis and as exchange of a The and rates on currency expected, decrease license than ago decreased of by direct services our year-over-year revenue basis. solid rates services $X.X revenue fourth-quarter revenue from to was of last OpenEdge growth year-over-year million rates revenue $X.X and million
exchange compared revenue constant from prior from currency million full-year constant on revenue for ago an direct Turning exchange revenue year full-year at year X% $XXX.X slightly million our segments, a our of revenue in flat last a was by to Within of currency was total decreased as year, on $XXX.X of License OpenEdge decreased basis. license both at constant on impact a overall rates The positive and actual to due rates, to lower enterprises. year-over-year our a currency million. actual basis. X% decline revenue expected rates $X and
X% year year-over-year, and OpenEdge the segments. expectations, performance substantially was by the a year. last currency services a and X% basis, in professional revenue solid and this $XXX.X for services AD&D revenue However, constant of Maintenance actual at our In license decreased decrease exchange flat also from in revenue. to rates ISVs line both was with offset million, on despite our growth DCI
to by for constant the segment, all versus $XX quarter the our million at was XXXX, with OpenEdge revenue Turning of versus down currency, QX X%, comparisons year. last revenue
For to full-year, flat last year. $XXX.X the million revenue was
both for OpenEdge is quarter the for the for this our low related from achieved has direct revenue QX slight the Our going represents both quarter, enterprise drop with ISV rates partners full-year, renewal we and the for X% down QX remained XX% revenue and expected. revenue License This $X.X for a year maintenance included and solid of license SaaS for compared declined revenue in Despite QX, ISV over channel This revenue in full-year. from full-year that and license growth XXXX. both for all of enterprise as XXXX quarter double-digit the to was for our revenue, from and partners partner forward. our in well QX, consistent stream the million of the million $XX.X increase XXXX. flat in direct while customers. has X% expect for growth and XX% an OpenEdge return our
professional associated for noted This professional decreased in of As accompanied full-year. our reduction a services. consistent optimize with earlier, and by strategy decline our OpenEdge was expected the OpenEdge to I was costs the profitability services revenue
and both for to revenue expectations. the for was flat slight of $XX stable XXXX full-year, growth our over services full-year revenue million DCI is quarter revenue million for OpenEdge showing XXXX. professional the and the maintenance line Excluding license in QX $XX with
the because is of little significant more end the I'll low so at to provide quarter. for DCI last of of $XX.X is $XX.X backlog million a color in ASC The my through at backlog XXXX. the quarter was of the end at the my license in last end our year, of DCI renewal $XXX,XXX the discussion are multi-year number our OEM a million adoption later compared business agreements of XXX. reason up remarks on Our and fourth
versus AD&D $XX.X to million of was to $XX.X revenue X% the $XX.X bookings the compared decline and quarter, XXXX. up segment; was Total X% million XXXX. growth Turning down the XXXX. QX for the last quarter, our to of $XX.X than for of compared full-year first-half, year, million year were X% X%. for QX a of Bookings stronger the for when million, the versus full-year, flat second-half the with for Revenue were
strong bookings and Sitefinity. for second-half was partially driven services and were those well Sitefinity, new maintenance bookings same DevTools These from maintenance as with by offset increases by increased The performance as license renewal decreased bookings professional products.
included steeper headcounts, due due full-year. the and including ago. total the go-to-market expenses; end for year shifting commissions marketing primarily This increased lower more increased with the variable our our following: moderated reflects our QX to for to flat compensation salary to the quarter, expenses XXXX efforts achievements commissioning $XX.X programs plans, for a cost initiatives, to which paw million to was commission and businesses, increased due the benefits Turning lower structure of towards and of expenses operating revenue year, overall our the expenses a support new
almost and variable the marketing down we a year basis operating was lower have X,XXX partially $XX of The was two years. To nearly with consistent from sustained cited to decrease expenses efforts reduction $XXX.X including down compensation and or We of expenses XXXX QX expectations. programs earlier. by $X our due margin primarily cost full-year year expenses, running total for XXXX. reduced past salary million and X%. points increased same offset our XXX ended million, commissions headcount lower with operating the I X% from over our lean reasons by employees, was XX%, benefits operationally, full-year, For and QX million annual the year-over-year of last
last share basis EPS much $X.XX improvement This lower from tax fourth operating for quarter For full-year, a and lower a year. line $X.XX. $X.XX lesser was higher by of on QX to lower the margin in points our guidance the than XXXX. than of full-year to an with XXX higher of was last $X.XX XX%, rate primarily exchange due was EPS movements from offset extent was and unfavorable count rate, $X.XX, our ongoing impact repurchase income. EPS partially program. operating was The the year-over-year by our year,
year-over-year. impact lower to growth addition In the $X.XX. nearly of count, increased full-year favorable an our by tax EPS EPS lower operating reflects exchange $X also rate full-year income much movements and our was share million The of rate on
million. with Moving cash on strong to company quarter a a of the few with metrics; equivalents balance balance the $XXX and sheet flow ended sheet cash, cash and investments short-term
higher OpenEdge, flow for full-year was million, $XX compared free The increase XXXX. compared QX for of for up up but DSO at $XX of revenue the X% $XXX The quarter, to was deferred increase Our in to due the quarter, Adjusted of the days, QX million was Deferred the primarily year. the $X million last or capital cash four for primarily days million XXXX was DevTools. of million year, QX fourth XXXX. in sequentially, of last Sitefinity, million. XX is to was XXXX. debt XXXX in flat principal end increases due year-over-year at to expenditures and $XXX and versus QX $XXX slight QX balance versus $XXX million end revenue to in
repurchase a the which million. 'XX. during fiscal current we shares During end authorization, we the of had of at XXX,XXX million At intend repurchased remaining $XX fourth the quarter, under cost the to spend $XXX quarter, we
want business year on fiscal our ASC our walk of at fiscal to which results adopted XXX, turn beginning through XXXX. to the guidance, XX/X/XXXX I impact Before outlook our we and 'XX the on of I
for have We and retro XXXX standard. elected our adoption, new respective full as will we method adjust a and result, the the under XXXX results
your We adjusted XXXX supplemental release earnings schedule for our results in our reference. preliminary in have included
section Relations XXX. posted overview an We our our the supplemental regarding have ASC of investor Investor of which slide includes adoption updated also in Web information site, presentation
XXXX, impacts or new no operating our recognition with tax expense, For revenue, and expenses standard revenue flow. to our cash EPS, the change
of during As call, QX of direct of maintenance end-users. and the ISV and I by license sales primarily partners our our licenses varies ASC and impact perepetual The from XXX OpenEdge maintenance to royalties revenue our discussed revenue size. consists
recognized partners delivery revenue maintenance ratably and direct we revenue both end-users, the period. have over previously maintenance For and upon
our So, under on does $XXX,XXX. of agreement only for impact change not the since XXX, revenue OpenEdge the common XXXX segment ASC a decrease was
licenses year. DevTools revenue a mainly and we is previously revenue the typically license maintenance maintenance these and segment for us requires and we over recognized and license the upon Our the we is maintenance, $X.X ASC products Sitefinity, million primarily our XXX between delivery. our term on maintenance which allocate it recognized both results under the practice maintenance portion contract This in and revenue our change because is to resell and ASC one XXXX revenue decrease products, in the AD&D from license perpetual prior like XXX. from of
our the recognition our the the to this for be entire XXX primarily due however of materially previously contracts, of and agreement. reduced million, of our expected revenue Based multi-year recall, our largest ASC the license over under term license comprised these revenue $XX.X decreases change XXX. of on DCI Together, adjustments under revenue. the $XXX.X you arrangements by OEM operating DCI see from OEM operating DCI DCI term for the the to is payment which also an by was was revenue adopting impacts dates XXXX lower no multi-year upfront, we recognized there resulting million $XX.X million our of renewals requires upon of segment contracts margin income As standard. timing of revenue where million, term our ASC in recognized the our is impact these in operating XXXX from accounting new adjusted multi-year expenses, XXXX is to XXX ASC change $XXX.X Since million. XX%. by $XX.X the
lower our $X.XX the As decreases a EPS income, operating result $X.XX. XXX from by to of adjusted XXXX
results. XXXX and for XXXX XXXX guidance our to turn and comparable our ASC let's XXX which adoption Now reflects for of both QX, the
between XXXX segment, slight growth from $XXX revenue XXXX. negative and low a total On more between of XX% due XXXX, they're in to required the translation offset of XXXX to multi-year a is few We anticipated revenue modest by with customers. constant and with that on will increase includes revenue our associated includes large basis, $X.X fiscal renewal initiatives. decrease our license to basis, currency the from XXX. not revenue This year-over-year to to creating recognition our a several our our partially term million, which million increase of a currency we agreements contribution our of currency a XXXX these DCI ASC for in expect expected constant The revenue XXXX, OpenEdge X% our and comparison. a results, benefited XXXX expect term more largely that $XXX from from to X%. new impact primarily is is due expected ISPs be revenue. is million single-digit than of revenue decline an challenging an revenue of be This partners recur XX% X% renewals approximately and On OpenEdge under term upfront revenue licenses flat
Our forward. DCI revenue XXX will continue fluctuate going to under ASC
underlying on the the the provide Contract new true forward, economics and the to going metric of contracts. or of each clarity OEM ACV we So, contracts this also DCI license term maintenance will a Annual segment quarter, provide Value
and to revenue very DCI to forward. fluctuate ACV OEM and materially maintenance steady agreements. our ACV For be $XX between expect was and from do and contracts we $XX coming license DCI remaining the OEM XXXX, OEM we of is $XX solid, the contracts ACV with value of term going of the Since expect XXXX million expansions and the direct license not million, approximately million the sales
mid expect growth revenue single-digit products. for segment, We maintenance our in and and DevTools driven AD&D Sitefinity from license by our increases
or XXXX again, per X% of increase to of This to expect an $X.XX versus X% EPS; negative an our XXX, ASC to $X.XX. and XXXX $X.XX, XXXX. impact translation of with both includes currency we to Turning anticipated full-year share $X.XX earnings and $X.XX
negative to be currency growth impact, would this X% EPS Excluding XXXX XX%.
full-year an that XXXX well $XXX of expected XX%, expect repurchases the conditions, repurchases. the we to targeting to $X.XX to reflects points XXX share be as million by guidance than market than XXXX. impact more for are the due we rate rate, our of share lower our Our of end the tax on to Depending completed approximately of as $X.XX basis of improvement EPS
to XX%, margin operating approximately basis points XXXX when nearly expect be We for XXX an improvement of to compared XXXX.
also of basis, making efficiently, sustainable ability We are strong and our continue business. margins to the investments build or in to required ongoing a operations our run XX% on while operating target an confident better to
of $XXX free cash XXXX $XXX million. is Our million adjusted between guidance flow and
QX our be for to of currency expected also a full-year to segment, revenue the I and DCI revenue reasons On expected earlier, is to to negative be the expected revenue decrease flat. AD&D revenue X% $X.X anticipated DCI increase due be of we The million. to X%. currency constant last is is to between is guidance in our QX XXXX, timing is to to is $XX decrease year. primarily million expected same to $XX mentioned includes impact low approximately XX%. revenue relatively decrease the basis, although XX%, OpenEdge the translation million, a be from in expect while This Turning QX revenue expected to of year-over-year X% versus for decline
offset $X.XX. XXXX. expect and pleased we the cash year. in the currency the for revenue by operating to excellent We lower running an finish for EPS indicators margins currency or flow, impact tax a Since to decline shares. is ended be negative approach on free of translation includes efficient $X.XX strong changes weighted company. solid flat with constant the share our rate in year We in In year This partially QX of last decrease $X.XX per with both to to our $X.XX quarter, closing, and favorable I'm to due our last our to first expenses entirely to compared compared QX of expect earnings basis anticipated
still appropriate manage investments profitable prudent costs where making We while and to continue to strengthen business. our
to our for to creating With on We delivering it shareholders. for I'd are that, lasting for XXXX, back financial to Q&A. goals Brian value like hand and committed our
