“We continue to expect rapid expansion in our customer base moving forward, as we invest in our sales teams and channel partners and we would expect average revenue per customer to continue to taper as a result of our growing customer count.”

In context

“ly down-selected by the U.S. Army to provide its intelligence data fabric and analytics solution under CD-2. In the third quarter, we closed 54 deals of a $1 million or more in total contract value, including 33 deals of $5 million or more and 18 deals of $10 million and more. Third quarter billings increased -- 172% year-over-year. As you continue to improve contracting, push out, or remove termination for convenience causes and move to shorter duration billing cycles. Total remaining deal value increased 50% year-over-year to $3.6 billion with commercial remaining deal value increasing 101%. Third quarter trailing 12-months revenue per customer was $7 million, down sequentially and reflecting continued acceleration in customer acquisition as we added 34 net new customers in the quarter. We continue to expect rapid expansion in our customer base moving forward, as we invest in our sales teams and channel partners and we would expect average revenue per customer to continue to taper as a result of our growing customer count. When excluding new customers added in the quarter, average revenue per customer was $8.8 million, up 26% year-over-year, and we continue to generate strong growth with our largest customers. Trailing 12-month revenue per top 20 customers was $41.3 million, up 35% year-over-year. Next, I'll discuss our third quarter margins and expenses on an adjusted basis, which excludes stock-based compensation. Adjusted gross margin was 82%, up from 81% in the year-ago period. Contribution margin was 57%, up from 56% in the year-ago period. Third quarter income from operations excluding stock based compensation and related employer payroll taxes, was $116 million, representing an adjusted operating margin of 30% our fourth consecutive quarter with adjusted operating margin at or above 30%. Third-quarte”