A reconciliation of the non-GAAP financial measures to their related GAAP financial measures is set forth in the financial tables below.Key Operating Metrics
- Annual contract value ("ACV") totaled $3.158 million at the end of the third quarter of 2013, an increase of 85% from $1.707 million at the end of the second quarter of 2013, driven by solid growth in new client acquisitions. ACV represents the aggregate annual value of our subscription contracts and is a leading indicator of future revenue growth. For more information about ACV, see "About Annual Contract Value (ACV)" below.
- Liquid had 48 customers as of September 30, 2013 consisting of 27 customers contributing to GAAP revenue and 21 customers under contract and expected to contribute to future GAAP revenue, compared to 30 customers as of June 30, 2013 consisting of 23 customers contributing to GAAP revenue and 7 customers under contract and expected to contribute to future GAAP revenue, representing a 60% increase in our customer base.
- Total software units rose to 565 units representing 455 units deployed and 110 units under contract as of September 30, 2013, an increase of 34.5% from a total of 420 units representing 385 units deployed and 35 units under contract as of June 30, 2013.