NetSuite (N) ended Q1 with a deferred revenue balance of $237.5M, +6% Q/Q and +38% Y/Y. The latter figure exceeded total revenue growth of 34%.
Subscription/support revenue rose 34% Y/Y to $99.4M, and professional services/other revenue 33% to $23.6M. Total growth was down modestly from Q4's 35%.
Like Salesforce, Workday, and many other peers, NetSuite continues to spend aggressively: Sales/marketing spend rose 36% Y/Y to $63.7M, and R&D 45% to $24.2M.
Q1 results, PR