SEAC numbers caught my eye as well. Terrific quarter. But sounds like Q4 got a big boost from some 1-time licensing revenue. From the CC-
Mark Szynkowski
Thanks, Chris, and good afternoon, everyone. Turning to our financial results for the fourth quarter and fiscal year 2023. Total revenue for fiscal Q4 2023 increased 23% to $10.2 million from $8.3 million in the prior quarter, while full year revenue increased 19% to $32.5 million compared to $27.3 million in fiscal 2022.
For Q4, the improvement was primarily driven by increases in product revenue due to the acceptance of a development project, triggering a material license fee related to the company's connected TV software product. While for fiscal 2023, total revenue was up mainly due to increases in service revenue.
Product revenue for Q4 2023 increased 185% to $6.2 million or 61% of total revenue compared to $2.2 million or 26% of total revenue in the prior quarter. Product revenue for fiscal 2023 increased 9% to $14.2 million or 44% of total revenue compared to $13 million or 48% of total revenue in 2022. Improvement in product revenue for both Q4 and fiscal 2023 was primarily due to increases in licensing revenue.
