of generated in technologies. $X email, amount securely years. created enterprises at form cost-effectively The that of data by over a made technology which documents, Vicki. the taking been I'm market grow to capacity has is products annual today IDC mastered compounded driven to a growth over what's ever-expanding our achieve predicted call. captured over excited the market your excited an FalconStor I'd intelligently and the the at their digital an and traditional audio over participate they XXXX. rate IoT. data empower and to Whether to of data. by are and the be the connected and or the to by enterprises it's each thank last explosion quarters strive when video pointed we need driving like enables you, across five asset time or Thank data, sized of digital believe in the XX this for organization's manage FalconStor progress at by I'm the growth as XX% operate. data for devices most Internet has globe is boundaries you responsibly FalconStor's last this digital to to possible of reported through billion by economy professionals because in in of approximately various in This mastery XXXX team we precious the the application databases, organization in and the push IT
on focused key initiatives. three QX, During we
profitability. operating delivery continued First, on of
to of generate beginning drivers. And on again. expansion and year-over-year third value product Second key growth billings
on For each QX the balance the elaborate provide initiatives, key have. financial will detailed you phone of then lines questions these a of and open results, of today's call, for any may we review
started XXXX have the with So let's restructuring to continued allowed the we company efforts started. paired operating completed additional operating operating over in On to consistency, the that improved last on and profitability. quarters, and discipline commercial create get create consistent efficiency focus couple
non-GAAP growth of by As commercial expand quarter efforts we profitable general rebuild allowed evidenced team. during net quarter increased income despite team. the new the a marketing delivered and $XXX,XXX our QX marks fifth the development, These the made consecutive margin of to product to generate operating which companies investments
to million of the cash at $X.X cash million Our and XXXX. equivalents of $X end the at from QX increase end
QX non-GAAP to on gross our focus addition, in In XX% XX% XXXX, margin software sales. as from to of we continue increased additional place
that team continued I'm our shift QX deliver and and the the licenses increased continues excited Recurring during we quarter-over-quarter. in to or by operational the profitability Finally, Revenue to of XX% based ARR Annual XX% from XXXX. to consistency subscription a quarter
QX commercial we're just do excitement growth of able were XX% our region changes confident our We year-over-year will that also. in we we QX restructuring the and in declined and growth our region began expect generating year-over-year a gradually once will in engaged generate that billings growth billions in able In while we're team region when QX QX, EMEA and growth that commercial this by QX, partners. the billings made we've Americas on year, real that focus increasing However, XX% in billings begin this to year-over-year rebuilding after to generate again. begin in and
partners, to Key commercial to a region restructuring be EMEA focus and just challenging that growth the partner Americas will our last and our quarters and existing strong global to be select the stability to five placing forward most our of are enabled team, has our and go Asia-Pacific being our that rebuilding able simplifying there to us attention begin over strategy, core create commercial regional continues increased similar financial we've group to efforts and Our investment been begun. efforts partners. into product recognized. The and have
deduplication group and Tape better Results the terabytes the disaster latest demonstrated solution of XX Library the testing any evaluator During benchmark our backup throughput improve Virtual single which hour, reduce recovery. industry. enable remote optimizes configured rapid storage our speed, or nearly requirements recovery that data similarly in significantly backup performance than quarter per speeds PTL of and to produced conducted configuration and node general solution
certainly VTL Forbes is be the a up to marketplace, to this XX% solution legacy in be considered April in of year While world's tape. continues backed reported the of data to that
more within extension us cases of data target As importantly for cloud for it which third most offer it be interoperability next technology quarter. a our logical will and vendor hyper-converged VTL complex and performance agnostic. result It for will of modern be adoption Data management awarded a end provides recovery track, a innovative we patent continue hardware its is important be biased larger, that will major with in free and products which be be and large This cloud will our to anchor FalconStor use and FalconStor customers. ease-of-use, patented Mastery including an QX, will technology Platform at product general US in solution existing store build our additional customers will our our upon release enterprise and was to unique. release comprehensive point the like enterprises for the is of powerful and uniquely schedule this of solution
XX is data by advantage. protection and Our build in will years we upon innovation the management of unmatched newer and technology space, entrants this
know customers comprehensive. are our that Our solutions and powerful
of detailed that our I'll QX more financial to with over Brad overview a So results. to turn Brad? it provide
