Jean A. Bua
fiscal I quarter year and year some of and our outlook. metrics second everyone. Michael, fiscal additional first morning, you, XXXX on our Thank good key review will commentary half XXXX for provide and
review I comparisons. appear nature reconciliations all any focuses our such on will results the Regardless, with the reminder, a this presentation note non-GAAP results As and appendix. otherwise our stated, GAAP in of unless
Additionally, unless all noted. comparisons are basis, on a year-over-year otherwise
year for XXXX. the and quarter results the details fiscal #XX second of first half Slide
Focusing performance, revenue of down total quarterly year XXXX million, X.X%. fiscal our on $XXX.X quarter second was the for
to Service was the in million, was in customer's the year of have of grown QX. optimization $XX of when normalizing last our million a X.X%, $XX is revenue mid-single million As primarily $X the to digit took due year. close QX backlog $XXX.X large Product business of maintenance for from that year-over-year. expected a contract was revenue disposition XXXX fiscal decrease Anil million that the of revenue usage timing and our place percentage would renewal a shared, X.X% which at test up
primarily X.X program. would the in management reported expenses We voluntary year. was this, year, QX Gross same reversal an of of points. X.X% profit quarter in the down have in percentage XXXX fiscal operating in declined for from incentive-related with prior XX% the benefited compared separation to XX.X% cost XX.X% increased to attributable second initiatives, expenses. expenses the fiscal Quarterly operating including last margin quarter, which mid-single comparison profit digits, year margin the operating Normalizing
included last foreign down was incentive-related a was the loss well in year $X.XX share the in unrealized of loss. $X.XX, the investment the on same which due per as XX% Diluted investment This from an expense approximately period reversals earnings $X.XX. to prior unrealized as quarter
I with on and remarks. other a Slide customer year-over-year review will our verticals. key by here consistent revenue note comparisons Please that to trends XX. all product Turning are lines basis,
of benefit this we backlog, year year. which prior reminder, entered did a get the fiscal fiscal of As million $XX we the approximately not with
fiscal XX.X%, the of decreased while For cybersecurity assurance revenue our decreased by revenue our first half service year X.X%. XXXX, by
for During while product our period, approximately of revenue, our product accounted remaining XX%. accounted assurance service cybersecurity our line line the the same for XX% total
Turning our verticals. to customer
For XX.X%. while decreased the provider customer fiscal enterprise vertical first of XXXX, year our customer our revenue service was revenue consistent, vertical half
period, vertical same XX%. our of our approximately total vertical remaining service the our the customer provider for During enterprise while revenue, for accounted accounted XX% customer
Slide to shows This Turning XX. our revenue mix. geographic
of the or free in and half year half million of was year represented total fiscal our more no securities sheet XX quarter revenue short first by ended the XX% representing use with the or long-term revenue XX% international remaining decrease marketable end XX% the fiscal Free since year the second and for of with certain from flow cash XXXX. was details second a XXXX. $XX.X United the of and cash, our markets. flow Slide equivalents, first the in a XXXX, derived Also, quarter quarter of provided of items. We fiscal million. cash of States, the For cash $X.X investments, balance $XXX.X million customer
favorable From the the XXXX fiscal quarter $XX year financing fiscal our second year in of during conditions, financial credit revolving stock the and to we a shares environment XX,XXX approximately authorization facility. to -- $XX currently of active and fiscal During perspective, October, we capacity debt quarter the of In share be market credit the our XXXX, market or balance outstanding our on we average market of the year. for an ended of per to common approximately extend $XXX,XXX leveraged our We intend in facility. subject million amend with repurchase price have repurchased second share.
was XX size $XXX.X maintaining the sheet XX from metric million and other maturity $XXX The amended fiscal revolving second the the net briefly balance year receivable credit from second the DSO facility end days DSO was facility days of XX the lower fiscal the composition in XXXX recap to reduces million quarter XXXX. million, The was March in of extends same decrease end year due items, year accounts lowering the XXXX at million bookings. for financial October XXXX. at versus and financing July $XX.X period fiscal to XXXX, $XXX XX, and representing flexibility of quarter of To prior of costs. since and while metric to of The year the timing the days this a
move Let's targets for for commentary will XX on review our focus I to our outlook. on non-GAAP XXXX. fiscal Slide year my
earlier, noted XX, for July quarter XXXX, first during our outlook XXXX call. fiscal non-GAAP are our that Anil was we reaffirming As earnings year presented
anticipate range As a revenue $XXX fiscal to $XXX million year in we the million. of reminder, for XXXX,
$X.XX $X.XX per within non-GAAP year be tax effective approximately the diluted anticipate rate with the is full of to XX%. The year-over-year. range to we expected Additionally, earnings to continue consistent midpoint share
Our incorporates share million is does assume activity, assumed weighted but XX further shares, recent to any not activity. approximately our outstanding diluted be shares average repurchase which repurchase
investment, Finally, currently given are the evaluated we gain its reflects impact fiscal unrealized only a progresses halfway mentioned the therefore, and will foreign year, outlook which to at as any year the impact associated be our further value fiscal through with fluctuates. previously year-to-date that
with non-GAAP cost program year benefits management the reflects anticipated associated and XXXX mentioned fiscal separation guidance voluntary Our restructuring initiatives. the also actions ongoing previously
$X.X attributable which actions, of conjunction million a half year charge GAAP was million, second In separation of to of first fiscal onetime in payments in with we recorded $XX quarter. the these XXXX restructuring the
of approximately We record charge year of current fiscal VSP. to in implementation restructuring the quarter severance expect of for primarily million additional costs associated the $X.X an the third XXXX, with remaining
in that generate actions. approximately will to annual these which these realized $XX savings due XXXX the expect of fiscal will We be million of year million, run rate of $XX timing actions approximately
XXXX. some we half like the second Finally, color with anticipated fiscal our Consistent in the I in fiscal expectations half XX% call, would earnings year to XX% first year the the of skew half second and year. of revenue that for the on we provide last a of fiscal shared the approximately of
between year's the fiscal revenue remaining the essentially third the fourth of expect quarters. We and be XX% full evenly to split
quarters. We split non-GAAP also per be between earnings share and expect the corresponding evenly to third the fourth
my review our of formal results. concludes That financial
participation I'd conference our turn Slide Q&A, to now quickly you. call transition to to And note on Thank for we Before the that over the I'll IR like XX. upcoming questions. is listed operator
