Medallia Inc (NYSE: MDLA) stock fell over 3.4% on 6th September, 2019 (as of 10:08 am GMT-4; Source: Google finance) after the company in the second quarter of FY 20 has reported the 27% rise in the total revenue to $95.7 million year on year. MDLA has ended the quarter with 613 customers, an increase of 26% year-over-year. In Q2, SaaS revenue was $74.5 million, an increase of $14.4 million or 24% year-over-year. Professional services revenue was $21.1 million for the quarter which grew 38% year-over-year. Revenue in Q2 generated outside of North America contributed approximately 25% of total revenue. Further, SaaS revenue gross margin was 82%. In Q2, professional services gross margins was 17%. Non-GAAP operating margin in the quarter was negative 2%, which is a significant improvement from the negative 28% in the year ago. The non-GAAP operating loss in the second quarter was $2.4 million compared to a loss of $21 million in Q2 of fiscal 2019, which is an improvement of over $18 million. Non-GAAP net loss was $2.6 million. During the quarter, MDLA has generated $431,000 in other income and incurred $678,000 in non-GAAP income tax expenses.
Moreover, MDLA has ended the second quarter with $417.4 million in cash and cash equivalents, up $285 million from the end of the first quarter, driven primarily by the net proceeds from the IPO and private placement. For Q2 fiscal 2020, trailing 12-month SaaS billings growth rate was 33%. The remaining performance obligations or RPO totaled approximately $548 million. MDLA expect to recognize approximately 52% of the RPO over the next 12 months. RPO in Q2 benefited from a handful of large multi-year renewals that the company closed in the quarter. MDLA has generated a loss of $20.9 million in cash flow from operations for the quarter.
Additionally, for Q3, the company is projecting total revenue to be between $95 million and $97 million, representing a 17% to 20% growth over last year. For Q3, the company is projecting SaaS revenue to be between $76 million and $77 million, representing a 20% to 22% growth over last year. For Q3, the company expect non-GAAP operating loss to be in the range of $3.5 million to $4.5 million.
For the fiscal year 2020, the company expect total revenue to be between $385 million and $388 million, representing a 23% to 24% growth over last year. The company expect SaaS revenue to be between $303 million to $305 million, representing growth of 23% to 24% year-over-year, an acceleration from the 22% growth rate in fiscal 2019.