Over the last year, the subscription contribution of Red Cloak has more than tripled to become a meaningful contributor to MRR.Together with our offerings in our Cloud Guardian portfolio, this solution is one more way that we help our clients secure workloads in their data centers and in the cloud.
In terms of thinking about the investments and where they are going to go domestically versus international, it sounds like you are having some momentum internationally and the US is obviously a more mature market for you.
General and administrative expenses in the first quarter were 15.2% of revenue, a 70 basis point improvement.Following their prepared remarks, we will take your questions.So we are - we see the moment to the cloud to be both a risk and a opportunity, but we are excited about our role and what we play in that.UBS Group AG (UBSG.S) will hire fewer trainees in 2018 but spend two to three times more on teaching them to be financial advisers, a senior executive said, in the.
They value the power of the Counter Threat Platform, or CTP, our vendor agnostic approach and visibility to see the strength and weaknesses of each point product.We have also streamlined decision-making and created more clarity of roles and responsibilities.So from a Red Cloak perspective we are very excited about both our progress in the last couple of quarters, as well as the sales pipeline which today is 5 times to 6 times the revenue that we had closed, the revenue that we have.
I mentioned the sales training and annual sales meeting in particular, and then we had some transition of individuals on the sales team.Maybe, Mike, you could just talk a little bit about whether your assumptions that go into that number - whether if at all they have changed.
Clients value our technology leadership and singular focus in the vast and growing cyber security market.So just based on the commentary of increasing sales investment, it sounds like you feel as though you are capacity constrained.This foundation will serve us well as we ignite momentum through our investment in sales.We combine the artificial intelligence and automation of our industry-leading CTP with actionable insights from our team of elite researchers and analysts to provide a powerful network effect.
And then given that, what are you seeing in terms of the productivity levels of your existing sales force.We have 17 years of visibility into the threat activity affecting over 4,400 clients in 61 countries.Can you just give us an update on how maybe your top 25 and top 50 customers are spending and what multiple they are now spending at.
So let me spend maybe one moment on explaining both AR and deferred revenue.So we are seeing increased opportunity and increased demand across the whole host of verticals and I think GDPR playing into that, particular outside of North America is clearly a concern coming up in all of our contracts and all of our negotiations and discussion.Select a Toyota model to view in-depth pricing information, read reviews, browse local inventory and more on TrueCar.Mercedes-Benz Financing, Cash Back, and Lease Offers for November 2017.And we did some adjustments to and improvements in the tools and systems that we are reporting.For full year fiscal 2018, we are updating our prior guidance as follows.This morning SecureWorks issued a press release announcing results for its fiscal quarter ended May 5, 2017.
So they may - in your specific question, in this case that I gave the example of, they actually had multi-layers of defense and now they are looking to rationalize that cost and put it in a more focused and effective manner based upon the security controls they are looking across their ecosystem.Our ski trips for college students and groups include lift tickets and lodging in Breckenridge, with discounts for rentals, lessons, transport, and more.Your next question comes from the line of Fatima Boolani with UBS.This quarter we processed up to 220 billion events per day, a 33% increase over the prior year.Our clients appreciate the approach and clear business value we provide, which enables the best and most effective security decisions possible.Check out the latest Dubai Shopping Festival events and deals for 2018 year here.We believe MRR is an indicator of annualized subscription revenue.
In March you announced a series of enhancements to your Cloud Guardian portfolio.The key takeaway from our prospects and clients is that while almost all companies in our space address cyber threat as a technology problem, ours is a highly differentiated approach.Gains in gross profit outpaced revenue growth with margins improving year-over-year by 220 basis points.Gross margin was 55.8% of revenue during the quarter, a 220 basis point increase.Clearly our value proposition around the visibility that we have with 4,400 clients in 61 countries allows us to see things quicker than anybody else can, and our ability to work across verticals and a vendor agnostic manner from the SMB to large enterprises and show the value that we have in the power of the CTP is what we need to be selling.Your next question comes from the line of Rob Owens with Pacific Crest Securities.
For the first quarter of fiscal 2018, we delivered top line growth and solid gross margin expansion, while making continued investments to accelerate our sales momentum for the first quarter of fiscal 2018, following our several key metrics.For the remainder of this fiscal year, we expect to maintain sales and marketing expense as a percent of revenue roughly at current level, while we work to accelerate MRR momentum.