Thank you good overview And everyone. your Yogesh. fine afternoon, for
referring numbers fourth pleased financial very full the We're all reminder, basis. non-GAAP a my to a year with on I'll be and are in As our remarks quarter performance.
above million high our guidance the $X.X our fourth anticipated than higher end DCI. million, the quarter, revenue sales For due total and to of was $XXX.X IP rage, primarily of Ipswitch OpenEdge,
above year-over-year. share earnings $X.XX quarter $X.XX of grew range. for Our guidance per It XX% the the end high of the was
to For the currency was total increased fiscal constant the full a million, QX year-over-year was revenue year, negative or last XX% XXXX. $XXX.X of exchange on $X.XX the increase to out of consolidated from of XX% as million XXXX. for of revenue year compared last compared $X.XX, a QX million. quarter quarter on Earnings Working revenue the up per for XX% impact share year, an basis. $XXX our revenue was fourth The rates and $X.X XX%
basis. increase XX% ago the actual on and of at XX% revenue our Maintenance year. by number as renewal revenue rates, as OEM at revenue of was contracts $XX to a constant well compared Ipswich, exchange increase basis. from a DCI to XX% an was was of million, The the year This of exchange services due by $XX.X Ipswitch. rates to from license increase multiyear-term primarily XX% increased due as and a at higher of year-over-year License and currency addition million, constant last within segment currency actual
exchange basis. year. and at rates full License our on rates a XX% was currency million. to million to well OEM $X.X the contracts year The our a up impact ago DCI XX% year-over-year actual at $XXX.X segment. by of from revenue full a our year, a compared revenue multi-year basis. rates, to of was Ipswitch, of higher actual and license XX% XX% primarily revenue exchange negative year on last A revenue of was prior as increased Total due Turning within number on renewal constant of constant revenue currency exchange as from increase versus $XXX million the year a
of again at Ipswitch. increase Maintenance the is million, of a services was due and and revenue This basis. XX% rates $XXX.X growth constant currency actual to XX% primarily addition on exchange
to million our up by year. last the comparisons fourth constant now of $XX.X XX% versus Turning currency, revenue revenue for segment XXXX versus QX quarter, at OpenEdge all with was
year, quarterly to a increases. full million, annual For behind is XX% up driver and year. the $XXX.X compared primary revenue revenue the Ipswitch [ph] when last was both, the
We both that and are Ipswitch very file management than data performing better the transfer are from had secure pleased projected. network products we
OpenEdge our their the our year from deployed ISVs be continued solid with from quarter revenue partner License another in to and billings applications with cloud. SaaS-related have stable who channel
quarter We also had OpenEdge XX. needed enterprises several functionality stable in added with they from a large OpenEdge upgrade as as deals capacity, to prepare strong our they customers purchased to QX where direct as well with
full to sales from strong full rates the grew XX% both Maintenance and year. for the renewal continue overall license be over customers For year, these slightly. QX
than the last revenue revenue segment, DCI double more our to year. the million, quarter was QX $XX.X in Turning for
have multiyear the new deals. contribute -- But for revenue quarter, we increase that customer for versus scheduled of the significant year-over-year a XXXX. based the a OEM revenue of expected signed contributing increase with XX% full million, contract direct a year OEM better We $XX and an expanded also DCI on the was will projected during to QX. our significant renewals than term
associated can scheduled fiscal making fluctuate XXX. lower renewals, for As number our for XXXX timing will of DCI the to the of of these smaller challenging. the timing comparisons to renewals XXXX a segment, results accounting from to We DCI be multiyear and the but reminder, year-over-year in renewals our quarterly due ASC benefited OEM under revenue the treatment annually more due
throughout discussed data. we most DCI the the we annual value remains year, As way evaluate to believe contract our effective
for $XX with performance We our continue consistent to XXXX. to million million actual expect ACV to be $XX XXXX in
X% our to for quarter, million for Revenue For segment, versus QX compared of was up year AD&D a XXXX. XXXX. $XX.X full revenue decline X% was the the $XX.X million,
$XX.X bookings full of versus last the QX As were year for million quarter, the expected, total X% year, down million and $XX.X to flat essentially for XXXX.
the primarily increase Now XX% expenses for year due offset expenses, to the both turning lower cost and we year. for from partially million full total and quarter, operating addition realize efficiencies QX by is The to to a year, due continued to full in up the Ipswitch, million the XXXX, to of business. our up of XX% versus expenses, $XX.X last $XXX.X were QX
decrease a of Expenses were result also low in in investment QX our as Kinvey to our pipeline. decision the
value recorded last during As quarter's in assets, I the expectations call, area, results. GAAP of charge million associated we our and QX reduced impacts light reported this conference noted, of in assess of a our in $XX.X the intangible carrying that
$XX.X or for was XXXX. versus the $XX.X million income up Operating QX, quarter, XX% million
of year, increase from full the QX was of margin versus was last million, income $XX.X In basis operating or year. operating almost million points an XX%, XXXX For $XXX.X last XXX up year. XX% QX
than improvement EPS operating $X.XX year, year, than full of XXXX. the was an EPS full higher last For was more from and XXXX. higher QX versus expectations and was XXX $X.XX a a basis margin than XXX year $X.XX, $X.XX, basis our XX%, improvement points points
quarter metrics, company Moving sheet investments few strong a $XXX equivalents, with on of a and to flow with balance million. cash, the cash cash balance short-term ended
last year. Our QX nine three balance QX the million. was and XX days was debt DSO sequentially for of principal of up QX, days at days, versus XXXX $XXX end
timing the 'XX. of balance we AR collections as Our the to year billings result, fiscal increased and in anticipate of a due end significantly at QX, higher the during
compared XXXX, addition Deferred the revenue up Ipswitch million the fourth primarily due to $XXX balances. $XX revenue quarter, of deferred of of QX at million was end to
XXXX. is our revenue purchased this preacquisition and GAAP. better results to eliminated Adjusted was under deferred to high include guidance in million non-GAAP $XX does of our Ipswitch revenue million reminder, We include a not business a compared record for accounting balance As flow year in last which free true to reflect in $XXX performance. revenue, deferred our million the QX year, compared million cash quarter, the $XXX and for in $XX full
last We provided mind, With translation expect high our while incorporate our With not million, $XXX any revenue to outlook we revenue In XXXX between during our XXXX impact XXXX guidance and in increase acquisitions. accretive like be to stable constant-currency margin pursuing acquisitions. in million additional strengthen to business $XXX,XXX. our X% preliminary on and anticipate currency fiscal $XXX that of we exchange now a outlook does XXXX said, in guidance to our is actual both an approximately negative that with basis. consistent to I'd for we the call. on core rates the business X% turn XXXX will is and continue which XXXX, also
increase revenue year-over-year The by following. the driven is
year in from Ipswitch First, XXXX. contribution months full revenue seven versus a only
flattish million, unchanged we Second, to timing although AD&D and XX% segment. DCI do OEM will million a we renewals. earlier, at DCI decrease revenue for And anticipate revenue I OpenEdge remain due from of deal segment fiscal expect of the 'XX approximately in for our lastly, our $XX year-over-year ACV $XX mentioned to
Turning $X.XX to or full not increase we per X% versus share an expect of EPS EPS, XXXX. is $X.XX, of translation our on to XXXX to impact X% $X.XX $X.XX, earnings year anticipated material. The to currency
the Our EPS reflects guidance following.
expect we First, XXXX impact compared expenses operating of to excluding the XXXX. lower for Ipswitch,
our of a expect XX%, than we higher approximately slightly tax XXXX Second, rate guidance.
$XX by the our million And to guidance end of XXXX finally, targeted EPS the we XXXX. includes of are share of impact repurchases complete
consistent believe to equity back sufficient offset is a capital target return a share to policy, buy largest level annual to our solid, the our our provide continue plans. with repurchases We shareholders and that from to dilution allocation at shares
as size the and buybacks we course, as timing flexibility additional of to on the and have Of conditions. activity, M&A market reduce well increase, suspend depending
the year million our of the improvement for $X.XX EPS targeted to share be full due approximately $XX expect repurchase. We to $X.XX of to
for operating an than XXX XXXX. more to our to points when basis approximately be expect margin We improvement XX% compared XXXX of
going to target We in forward. range high-XX operating margins continue the
ability operations run making to sustain efficiently, while our also in We to a are confident investments required our strong business. the
Our to increase $XX million is million an adjusted free million, versus XXXX for and cash between $XXX million $XXX flow of $XX XXXX. guidance
business the primarily collections. increase driven higher strong by Our generate significant improved in with and continues to profitability cash flows XXXX,
to approximately QX a XX%. On million to to to is XX% a between to million, the the an contract was as expected to the revenue $XXX renewals. and increase expect negative addition increase translation impact as revenue be double primarily currency guidance of be Ipswitch, XXXX, year-over-year which increase timing OEM of from of DCI, our $XXX of basis, higher more for of The QX expected due XX%. anticipated $XXX,XXX. due includes than Turning This versus well constant currency to last we year much XX% to is
expected we revenue to decline decrease of full QX, the XX%, and the year DCI than year-over-year. QX by XX% Although, for are expect be more to both will which approximately in majority impact
expect for ongoing in QX but $X.XX of Ipswitch for We the of decrease share XX%. quarter, XX% to efforts $X.XX year-over-year an last as the the excluding expenses efficiently This compared part impact contribution, to earnings QX is also increase of to expect to related the our per first $X.XX of in Ipswitch. to business year, we manage to
EPS on that currency expect not We QX material. translation our impact is
we very and Ipswitch in are positioned performing XXXX strong earnings achieved revenue finish In and expected original our well better momentum with better for pleased than QX, our sustain per We and share beyond. to for than businesses, XXXX our our positive with and closing, in outlook XXXX. I'm
the to to very business. continue free projecting making our increase indication in company. thoughtful XXXX, for approach for we a prudent best our will of perhaps, our and efficient be investments adjusted strengthen that and significant record running flow delivered XXXX are We cash And
and CFO, positioned CFO, personal Progress privilege it's on deliver in shareholders. as Progress Anthony hands confident three XXXX over proud for and to is a that to well to value create accomplish on in will be honor very we've I'm And to been a over its the company been that last goals what able time. as years. that the its taking I'm note, serve with for financial lasting good of
turn let's over Brian for Q&A. to that, With it
