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We assume no duty or obligation to publicly update or revise any forward-looking statements. In addition, we intend to discuss both GAAP and non-GAAP measures. A reconciliation of GAAP to non-GAAP financial results is included with the financial statements accompanying our earnings release.With that, I would now like to turn the call over to Bobby Yazdani, our Chairman and Chief Executive Officer of Saba. Bobby? Bobby Yazdani Thank you, Roy. Good afternoon, everyone. We had a strong second quarter with enterprise customers accelerating their preference toward our SaaS or what we refer to as our public cloud offerings. Let me remind everyone, in the first quarter, we saw a number of large enterprises opt for our public cloud offering as opposed to traditional licenses, which we refer to as our private cloud offerings. In the second quarter, we saw this trend accelerate. Our bookings grew by 14% year-over-year, and our annual contract value of new SaaS bookings doubled year-over-year as well as from last quarter. Nine of our 12 largest deals in the quarter were from enterprises selecting public cloud offerings over private cloud offerings. The number of new transactions over $50,000 for our public cloud offerings increased three-fold over the same quarter last year. This is the second quarter in a row where we have experienced a three-fold increase in the number of new transaction over $50,000 for public cloud offerings. A partial list of new public cloud customers in the quarter includes ACS, AFLAC, Brocade, Finning, Kellogg, and the State of Texas. We now support approximately 5 million subscribers on our public cloud. In the quarter, we also saw our total revenue reach $28.6 million, the second highest level of revenue we achieved in any quarter. We signed 42 new enterprise customers in the quarter setting a record for the company. 25% of these new enterprise customers purchased multiple modules.
It will probably surprise many investors to know that we have over 1.5 million users on our Saba Performance Suite, including HP, Cisco, Baker Hughes, Graham Group, and Intel, just to name a few. We have also been selling our People Collaboration Suite to such customers as the IRS, US Army, IBM and many more.Now I would like to shift gears away from the quarter and speak about our strategy. We have a three-prong strategy at the company that focuses on growth, product innovation, and building and inspiring company and brand. On the growth front, we have a number of opportunities. We have created a dedicated market team to target to organizations that have been between 2,000 and 7,000 employees. The sole focus of this team is to sell our public cloud offering to these organizations. We have seen good progress from the mid-market sales team and our product bookings have been growing every quarter. We also have created a dedicated install base team whose objectives are two-fold. First, ensure that the customer is standardized on Saba Learning Suite across the enterprise. This will expand our seat deployments within the company. And second, up-sell and cross-sell these enterprises on our performance and collaboration suites. We are also focused on selling our entire portfolio of people systems beyond the enterprise to the extended enterprise. This extended enterprise includes customers, partners, resellers and distributors. We believe penetration of the extended enterprise is very nascent. There are a number of our customers that have deployed our solution to the extended enterprise, but penetration of the extended enterprise within our installed base is relatively small. We believe this provides a great opportunity for us. The international markets are another growth area for the company. Latin America has been an area of growth for the company, and we are expanding into China, Southeast Asia and the Middle East. We have also expanded our global alliances and channel program to supplement our go-to-market strategy. We are expanding our indirect channels through new partner recruitment, accelerate partner enablement, and joint sales and marketing programs. Read the rest of this transcript for free on seekingalpha.com