“We believe we're well positioned to see growth in our U.S. government business over the course of 2024.”

In context

“capitalize on targeted growth opportunities in Asia, the Middle East and beyond. Revenue from strategic commercial contracts was $24 million in the quarter. We anticipate second quarter 2024 revenue from these customers to decline to between $7 million to $9 million compared to $19 million in the second quarter of 2023. We continue to anticipate 2024 revenue from these customers to be approximately 2% of full year revenue. Shifting to our Government segment. First quarter government revenue grew 16% year-over-year and 3% sequentially to $335 million. First quarter U.S. government revenue grew 12% year-over-year and 8% sequentially to $257 million. As Ryan noted, we're excited to be the sole prime contractor under the Titan program, and we'll continue pursuing other defense opportunities. We believe we're well positioned to see growth in our U.S. government business over the course of 2024. First quarter international government revenue grew 33% year-over-year and declined 9% sequentially to $79 million as a result of the revenue catch-up in Q4 that we noted last quarter and continued headwinds in Europe. First quarter TCV booked was $904 million, up 128% year-over-year. Net dollar retention was 111%, an increase of 300 basis points from last quarter. The increase was driven both by expansions at existing customers and new customers acquired in Q1 of last year. As net dollar retention does not include revenue from new customers that are acquired in the past 12 months, it does not yet fully capture the acceleration of velocity in our U.S. commercial business over the past year. We ended the first quarter with $4.1 billion in total remaining deal value, an increase of 22% ye”