Number of customers contributing more than $100,000 in TTM revenue up 90% year-over-year. This is only a slight acceleration from last quarter where they achieved 641 customers contributing more than $100,000 in trailing 12 months (“TTM”) revenue, up approximately 86% from the same quarter last fiscal year.
I just wanted to point out that this metric is looking only at TTM revenue. The new customers you mentioned have only been using Zoom for less than three months. In their presentation on slide 9, they indicated they signed up 500+ new customers with over $100K ARR in Q1. We should thus expect the number of customers contributing over $100K in TTM revenue to explode in the coming 2-3 quarters.
500+ NEW customers with greater than $100K ARR is pretty significant considering there were only 769 customers with greater than $100K in TTM revenue this Q.
Hi major fool,
Thanks so much for deciphering that for me. I missed the distinction between $100,000 in TTM, and new customers with $100,000 in ARR. Wow! That really is large!
Thanks again,
Saul
Do you remember all the people on our board who were sure that all the increased usage Zoom was reporting was all free users?
Do you realize that in the October quarter they only had 546 enterprise customers with over $100,000 in TTM spend?
Do you realize that in the January quarter they only had 641 enterprise customers with over $100,000 in TTM spend? They had added 95 in the quarter.
Then this quarter they reported 500+ new enterprise customers with over $100,000 in ARR spend (customers whose contracts going forward are for over $100,000 per year). I don’t know what 500+ means. It was intentionally vague. Let’s guess about 520.
Do you realize how enormous that is for them? It was like getting five quarters of new enterprise customers in one quarter.