we right few warm continue Thanks to speaking by TJ in to the afternoon. items success included our not this afternoon. expand of I TJ, our to it's release will for direction. everyone that the on metrics the measure SaaS welcome, be use and or already The move in with great this earnings a addressed transformation
retention GRR, and at of the $XX.X subscription $XX.X QX XXXX in rate, end, from end XXXX. $XX.X million quarter from QX, QX XX% XX% ARR increased in QX or XX% SaaS XXXX. was to At During million million increased compared sequentially to our gross
QX NRR, QX or to of at XXXX compared the was at rate, end retention net XXX% the SaaS end XXX% Our XXXX. of
base that XXX% in customer XXXX our reflect solution While period, provides for our NRR and foundation to expand a in periods. year see the future decreased customers the of prior to compared the we believe value rate retention continuing solid into that QX Qumu
transition XXXX increasingly vertical and impact decrease. the our of of that reflected and EBITDA, new model. to customers we in securing million were for XXXX representing target sales measure. during expansion Qumu's industry onboarding and These our grow investment, sales solution half initiatives talent and first and foundation as resources our for and Much prioritizes influencers on in new half marketing our conversion expense bases. a investing the operating with build cloud penetration SaaS XXXX, marketing use higher and top their of XXXX client cost building This training the initiatives was sales reflect to brand costs have with $X.X our an our incurred management during in second plan half as focused and to pipeline the on-premise the visibility, costs strategic designed is and base for on long-term of market, marketing the top for building we from as compared transformation. of partners X% leveraging existing analysts, million solution. and customers revenue prioritization content, are creating XXXX adjusted and broad to of sales in these Moving recurring into acquisition late expenses support the that immediate These first SaaS-first channel Expenses tapered implemented by within rankings XXXX resources, sales from customer initial through XXXX a non-GAAP SaaS initiatives. function for an within of incurred XXXX for to the we ongoing engaging since globally Such $X.X and of business transition were
implemented align in needed sales and focus in QX overall marketing reduce further The XXXX to $X.X operating to QX during X% XXXX. in our plan as million measures a as and compared of will we sequential resources operating optimization million expenses $X.X QX XXXX. in expenses drove were Qumu's strategic We with expenses decrease cost
Net For XXXX, non-GAAP million releases $X.X included in These for earnings the non-GAAP second to second the a were EBITDA, expenses was XXXX, savings in million for measure, periods. to loss also during XXXX reconciliation of a XXXX. GAAP representing QX in decrease. both compared our a QX loss, XXXX million to of $X.X QX is XXXX. the loss X% $XX.X a which A half EBITDA, from improved adjusted respective of a the cost of reflected million million net of half and an $X.X loss in measure, of half to XXXX adjusted measure, first decreased QX $XX.X operating in
million Now compared XXXX on for credit $XX.X balance $X sheet. the line to our $XX.X million fourth end of QX to the quarter. increased end of Cash the as during at drew we of at QX XXXX million the
a on $X XX, of we're of with all of line balance we compliance As credit, December our XXXX, and borrowing covenants. maintained in million
third the to improvement initiating cash program and after We in quarter optimization continue seen manage our closely XXXX. to cash cost burn have
with We on will prepared becoming and on over key turn COO, road realizing align traction leverage path Rose initiatives. our remarks. continue to my of and map the bookings it we're financing collections elements concludes the monitor discuss to to flow our our and cash available to to I'll expenses Bentley, positive. strategic This expenditures key Rose?
