OPERATING METRICS % of total quarter-ending Support MRR from paid customer accounts with 100+ Support agents A key metric we use to gauge our penetration within larger organizations is represented by the percentage of Support MRR generated by customers with 100 or more Support agents. That percentage grew to 38% at the end of the fourth quarter of 2017, compared to 37% at the end of the third quarter of 2017 and 34% at the end of the fourth quarter of 2016. While we expect this metric to grow gradually, we see these increases in the second half of 2017 as evidence of 100+ Agents 38% improving upmarket momentum. As a proxy of our success with upmarket opportunities, we Q4 2017 measure our number of contracts signed with an annual value of $50,000 or greater. In the fourth quarter of 2017, the number of these contracts we closed was over 25% greater than in the fourth quarter of 2016. However, we saw a decrease in the average size of these transactions as compared to the same period last year. Our dollar-based net expansion rate, which we use to quantify our annual expansion within existing customers, increased by one percentage point to end the fourth quarter at 119%, compared to 118% at the end of the third quarter of 2017. Our dollar-based net expansion rate was 115% at the end of the fourth quarter of 2016. Consistent with expectations in prior quarters, we expect our dollar-based net expansion rate to remain in the 110% - 120% range over the next several quarters. Zendesk Shareholder Letter Q4 2017 - 10