Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Yun Kim - Wedbush Morgan.
Yun Kim - Wedbush Morgan
Thank you. Just want to talk about your exposure to seven-figure deals. Last two quarters, license revenue having lackluster, yet you guys still managed to sign four $1 million-plus deals each quarter. And I think you pointed out in your prepared remarks that you guys actually have done a good job, including large deals, but the under-performance is coming from those mid sized deals. How do you explain this and how do you try to remedy that situation? And then also are you somewhat worried that now you are becoming more exposed to those seven figure deals than ever before?
Pete Sinisgalli
It's a great question, Yun. I think I could explain that overall with a pretty general perspective. In general, we have seen the larger companies, with, budgeted for, planned for supply chain transformation programs continue to invest in those programs. We have seen larger deal activity continue to close at an okay rate. Where we've seen the most slowdowns for a [deferral] of projects have been in the mid market, those deals, as Dennis described was between $250,000 and $1 million in license fees.
Our view is that that part of the market has been most impacted in the short run by the difficulty in raising capital, borrowing funds and the difficulty in seeing where the next couple of quarters will lead them from a capital perspective. So, we are doing what we can to encourage our partners, to be able to make those decisions to invest in improvements in their supply chain. But we expect, probably for the next two quarters at least, that that pattern will be similar, that market strong companies that have made commitments for supply chain transformation will continue to make those investments, and some of the mid market folks that are very concerned about short-term funding will probably find it difficult to pull the trigger on initiatives.
Now, I think the good news there is, as we looked at those deals that did not close, both the larger ones that closed and the mid sized deals that are going to close, we believe those deals have been delayed not lost. We keep very close track on our win/loss rate. As we mentioned in our prepared remarks, our win/loss rate for the quarter and for the year was very strong, winning more than two out of every three deals we competed in. So we believe when the market returns to a more stable level that there is a lot of additional business for us to capture.
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