And some of the most influential leaders in tech are expanding. Following the momentum from Q2, we expanded significantly with a large, high-profile enterprise software company. This is a good leading indicator that when tech recovers, it could be a tailwind for us. In summary, we are seeing more multi-year deals, up both sequentially and year-over-year, winning on vendor consolidation decisions, and are continuing to diversify our enterprise success across more industries. But we still have more work to do. Looking to Q4 and the beginning of next year, we continue to focus on: building pipeline for new enterprise ARR with targeted events and executive meetings around the world; improving expansion rates through customer success programs and strategic initiatives, such as the introduction of AI in our new product tiers; enhancing our professional services offering which will deepen our partnerships within our most strategic accounts; and increasing adoption of our differentiated enterprise capabilities.
And with that, I’ll hand it over to Tim.
Tim Wan: Thank you Anne. While I’m pleased with our high level results, some of the underlying drivers were not as strong as we had hoped. As Anne mentioned, we continue to see headwinds from a macro standpoint, which continues to impact our dollar-based net retention rates. We also have more work to do as we develop our enterprise go-to-market muscle and continue transitioning upmarket. By the same token, I am proud of the efforts the team has put in to manage costs and improve efficiency. We continued to make substantial progress on improving our operating margins. On to our Q3 results. Q3 revenues came in at $166.5 million, up 18% year-over-year. We have 21,346 Core customers, or customers spending $5,000 or more on an annualized basis.
Revenue from Core customers grew 20% year-over-year. This cohort represented 74% of our revenues in Q3, up from 73% in the year-ago quarter. We have 580 customers spending $100,000 or more on an annualized basis and this customer cohort grew at 18% year-over-year. As a reminder, we define these customer cohorts based on annualized GAAP revenues in a given quarter. Our dollar-based net retention rates were lower, mainly driven by seat adjustments. Our overall dollar-based net retention rate was over 100%. Our dollar-based net retention rate for our Core customers was over 105%. And customers spending $100,000 or more, our dollar-based net retention rate was over 120%. As a reminder, our dollar-based net retention rate is a trailing four quarter average calculation and thus a lagging indicator.
We continue to see stable logo churn rates overall and low churn in our largest accounts. However, companies remain mindful of the near-term economic challenges. I’ll speak specifically to our outlook regarding this in a moment. As I turn to expense items and profitability, I would like to point out that I will be discussing non-GAAP results in the balance of my remarks. Gross margins came in at 90.6%. Research and development was $51.2 million, or 31% of revenue, an improvement from 36% a year ago. Sales and marketing was $82.6 million, or 50% of revenue, an improvement from 70% a year ago. G&A was $26.9 million, or 16% of revenue, an improvement from 22% a year ago. Operating loss was $9.8 million, and our operating loss margin was 6%, representing a 31 percentage point margin improvement versus a year ago.
The improvement in our operating margin demonstrates our ability to take a balanced approach to growth and profitability. Net loss was $8.2 million, and our net loss per share was $0.04. Moving on to the balance sheet and cash flow. Cash and marketable securities at the end of Q3 were approximately $530 million. Our remaining performance obligations, or RPO, was $335.1 million, up 23% from the year-ago quarter. We expect 85% of RPO will be recognized over the next 12 months. That current portion of RPO grew 21% from the year-ago quarter. Our total ending Q3 deferred revenue was $255.4 million, up 19% year-over-year. Our free cash flow is defined as net cash from operating activities, less cash used in property and equipment and capitalized software costs, excluding non-recurring items such as costs related to restructuring.
Q3 free cash flow was negative $11.5 million or negative 7% on a margin basis, an improvement from negative 34% from the year-ago quarter. On a year-to-date basis, our free cash flow was negative $13.4 million, approximately $120 million improvement from the same year-ago period. Moving to guidance. For Q4 fiscal 2024, we expect revenues of $167 million to $168 million, representing growth of 11% to 12% year-over-year. We expect non-GAAP loss from operations of $23 million to $21 million, representing an operating margin of negative 13% at the midpoint of guidance, a measurable improvement from the same year-ago period. And we expect net loss per share of $0.10 to $0.09, assuming basic and diluted weighted average shares outstanding of approximately 223 million.
For the full fiscal year 2024, we expect revenue to be in a range of $648.5 million to $649.5 million, representing a growth rate of 19% year-over-year. We expect non-GAAP loss from operations of $66 million to $64 million, representing an operating margin of negative 10% at the midpoint of guidance, an improvement from negative 38% in fiscal 2023. And we expect net loss per share of $0.27 to $0.26, assuming basic and diluted weighted average shares outstanding of approximately 219 million. Our guidance assumes that there is no change in the current macroeconomic environment. We expect our overall dollar-based net retention rate to remain above 100% for the year. We continue to believe dollar-based net retention rates should bottom in Q1 at plus or minus 100%, when a number of large deals from the previous year renew.
In addition, the leadership changes we have made in our sales organization will take time to manifest. We are committed to maintaining a disciplined and balanced approach to optimizing costs and improving efficiency and profitability. We will continue to invest in future growth opportunities, like AI, which we expect will drive long-term value. We remain committed to delivering positive free cash flow by the end of calendar 2024. As we work towards reaching free cash flow, we are encouraged by the progress we’ve made, and I am optimistic about our future. Over the next 18 to 24 months, we anticipate incremental growth will be driven by: expansion from our Core customers, which will be a tailwind to our NRR; our focus on moving upmarket, so moving more of our customers to the $100,000 spend levels; and our new packaging which will help with more lands, improve adoption and new expansion.
