Email Alerts . Let's move on to discuss SaaS calculated billings, which we define as SaaS revenue plus change in sequential SaaS deferred revenue and contract assets. We expect additional leverage on the G&A line over the longer term.Non-GAAP operating income in the first quarter was $3.5 million compared to $2 million in Q1 of fiscal 2020. And I would have to think Experience and management, whether it be Employee or Customer, is pretty key in the reopening process.Have you just heard that sort of change in tone from your customers in terms of your conversations with those? At the current time, you want to know how your people are faring, how they're dealing with all kinds of crises that we're facing, how they're equipped to do their job, and how they're equipped to serve your customers.That's thrust of the understanding platform for employees, and that's why we saw that transaction and the other one I mentioned in the retail space, which was another proving transaction where we did replace conventional survey technology. So to me, digital disruption is the keyword right now and everybody's at it.Everybody's at it. And I would anticipate -- I don't know what's going to happen here, but I would anticipate that it would continue to fluctuate in that range. We've got a great cash balance. And then if I could have a follow-up. We also have latitude to invest, right? I'll just give you one start. But I am excited about what's going on.Great. For Q2, we are projecting total revenue to be between $109 million and $111 million. Think we're not going to go to a rock concert anymore, I'm not going to go to a bar? Leslie and I will now take your questions.Thank you. We disclaim any obligation to update any forward-looking statement. And people that had measured, sensible, well-planned projects have now been forced to execute in some or in part those initiatives quickly in a disruptive way, grabbing technologies to enable remote working and so on.In our own company, we were already -- in the field, it was already remote. So that's really our proposition.

There's something that the customer needs.They need video. It's actually to run our theme exploration technology across the text that has come derived from speech, right? It's still unpredictable.We don't know how things will play out. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. We have a number of situation-relevant propositions, Zingle messaging, LivingLens video, and Crowdicity for ideas.Our new Medallia Speech technology is proving mission-critical in contact center situations and other speech-to-text applications. To the extent possible, our forward-looking statements seek to take into account the impact of COVID to 2019. We expect SaaS revenue to be between $89.5 million and $90.5 million, representing growth of 20% to 21% year over year. For a discussion of our risk factors associated with forward-looking statements please refer to the text in the company's press release issued today and to our periodic reports filed with the SEC, including our Form 10-K, dated March 19, 2020. I think at the same time as we ramp the hiring, we did ramp our investment in enablement technology. We reported strong financial results in Q1, including record total revenue and record SaaS revenue.
However, we do believe that some of the specific situations with some of these customers will have an impact on our cash flow. But of course, we did get to know them in the first phases here. We're not going to save and cut our way to growth, but we are going to manage the bottom line financially. I'll keep mine pretty easy. Medallia went live on the Microsoft Azure application gallery.We also announced recently a partnership with Veeva. And so we need to see how execution plays out, but great opportunities to extend our footprint. We've seen traction in the public sector, healthcare, and life sciences. May, a nice start. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. And Roxanne, I gather this is a little bit in the weeds, but you mentioned that one customer didn't renew. And ultimately, that customer has filed for bankruptcy.And if we were to adjust our net retention rate for that customer, our net retention rate would be 118%.Your next question comes from the line of Scott Berg with Needham. As in Q1 of last year, we benefited from the changes in our go-to-market strategy that Leslie instituted upon joining Medallia.

But I think it's permanent.