Thank Welcome today. joining you and thank you all Gavriel. for us
few during the new format the you for As know, pre-recorded. the transitioning this months remarks Accordingly, OTI being conference search In all over call past interim we has CEO. CEO. changed time has prepared appointed with was I a undergone the been the the and interim, of
we from questions are via email. In taking addition, investors
the Following remarks, to my I submitted. will answers questions provide prepared the
to profitability, strategy and OTI the and shareholder our in recently. OTI. of been will execute and would believes sales, enable Yehuda quarter which very strong Holtzman worked X, is to CEO effective ultimately The brings sales growing appointment their previously strong from have new background of significant has the next that to more with will ideal has summarizing the last success us I a XXXX. opportunity bring Yehuda’s the in The some events and increasing key company’s most OTI December hear stage. companies start Wednesday him background very from for next family value. joining event us us Yehuda and weeks, board as realizing and to look an the you demonstrated will forward Yehuda the of conference call. investor announcement have significant like of our to in to We coming by The appointment of be
to results. the of summary Now the quarter’s
of still quarter on quarter an the in which U.S. we ahead well of tariff of prior from below those where manufactured slightly impact this quarter year, million the faced $X.X but of million, portion trend third products. those Chinese revenue first been third aspect the continues the $X.X to results in our The its period compared amounted strategy revenues long-term were year-to-date the Our recurring of the at a positive has XX% and revenues more our than our growth in same of that last is year. line our with with
advanced Russia for for X,XXX to won important These be this the we announced nine an months the highest delivered we With to October, during for than date, contactless year of in In ATM systems smart an continue fact, system we to markets. than market. sales check-out more orders of advanced X,XXX us. the leading order for Russian our contactless of market to level [indiscernible] the more remains based technological certification the during have XXXX, our readers XX,XXX demonstration its important and have first market; readers ticketing security. on capabilities the delivered
retail very our the our In we a the in Japanese systems us. and of Billing service payment units million regional significant our to market. order than market partner, market size order provider. OTI Japanese mid-June, footprint for X vending in continue to operational the us have a with Corporation, total received X,XXX potential we we more a cashless our from gives substantial XX,XXX is With electronic for runway country-wide, machine vast Systems and partner, via strategic already systems the continue payment broaden Japanese Japan untended together leading of This growth purchase
the the available quarter section issued to third Wednesday, the of like release of in I website. Investor release. of results would results. a Now the Last Relations copy the we XXXX press A our of is financial in cover the
from non-GAAP reconciliation for our operations. see our I provides Please ongoing including good continuing adjusted some believe this earnings a metric, performance. EBITDA this will EBITDA understanding non-GAAP of including comparable covering release our GAAP about be adjusted further on a We of the details to metrics, As results. usual, website
period operations reclassified to of results included are information December discontinued The you addition, know, the XXXX. current therefore prior sale been the with MediSmart MediSmart as as of In has the conform period’s presentation. all we announced in and
Revenues quarter and XXXX of prior third is million This quarter year in $X.X were of the the the in million $X.X quarter. in last compared third $X.X million. with
terms total quarter or the of of third XX% were mass and ticketing $X and million revenues, of or $X.X revenues. transit derived XX% revenues XXXX, retail total where of in petroleum breakdown were In million revenues of were the revenues
XX%, Looking of XX%, million was or breakdown was for quarter million Africa and $X.X million the at or APAC XX%, million accounted was geographic third the $X.X in Europe XXXX, or $X.X Americas $X.X X%. or
Gross was third compared quarter XX% million year Recurring to revenues quarter was in $X.X were or $X.X last revenue of margin the in the XX% year. the the versus of XX% million third in or to the the year level a in The reason and mix sold prior reported adjustments. for product and last XX% QX lower gross inventory XX% margin the of quarter in due quarter.
the gain subsidiary, the expenses, in sale reduced year quarter. $X.X a $X.X is to million compared quarter last of million. of South In the Africa operating related third million by were third significantly in prior to the of quarter the million building OTI’s including and to $X.X This $X.X
to million. of loss Net the the loss quarter. $XXX,XXX This was year third last $XXX,XXX is in loss in the and in quarter prior compared quarter $X.X
loss quarter a results, adjusted the million non-GAAP was our of turning of last loss with the EBITDA $XXX,XXX XXXX of an prior quarter Now of the compared EBITDA EBITDA year adjusted $XXX,XXX quarter. third $X.X and of in third to adjusted in in
equivalent sheet, cash at XXXX, million $X.X September term $X.X Looking equivalents million. was At XX, and had balance investments $X.X our in short-term Short and we long as cash, $X.X in investments and cash of million XXXX, million. cash, debt. and totaled debt year-end short-term
questions. Gavriel, your go will Now please to we respond ahead.
