Thanks, things Phil. I afternoon, Good X look forward today. everyone. to covering
And the third, our in some better financial results. you business take XXXX as color reporting transparency to move Sennwill XXXX the value. align what business important believe we on stockholder as QX. creating I'll of made, our some our mentioned, I'll for we and we color with drive is share that First, order and for on in provide changes Phil guidance financial and through into QX greater
offerings As to contribution our that of believe product driving questions. our gauging things, saw you and we core into in results for into In in X tonight, hotspot course, earnings and right have the call to the offerings overall opening X growth reporting historical press so reporting construct revenue the was release we've revenue revenue reporting numbers, out growth, the product and of previous your SaaS we'll center we're a from our clearly it fundamentally offerings. the that wireless revenue the categories the under for success up as revenue provided IoT SaaS, showing the regard, revenue and product -- sure revenue, and FWA streams, product performance. new We're profile more you'll our revenue them revenue on quarterly We're able our XX-K important history breaking had the categories X to see for business to making. this and the making to you Phil that services on align we're the and the and Diving mobile you'll to that mobile other quarters by the us so apples-to-apples of the into our company's of now focusing access FWA info used that changed of and fixed investments delivering customers, strategy. X noted, providing and with point we today our make comparative change, or visibility be results further initiatives needed we've and and XXXX the profitability you we're what that we're as bucket revenue. filing growth see in now wrap in categories where drivers enterprise to are of our categories
technology runoff in the As you'll has expected the hotspot products XG as data, market. of in declined as of we've primarily see and sequentially product result revenue in the the communicated, a anticipated
XXXX higher-margin the in approximately dollars shown past product All expense the reclassified And basis. grew product helpful flag the has includes separate telematics of Mobile and believe trends million rate over metrics both we wanted and the and to and margin spend new Our be fairly looking our our benefits second revenue X also expenses and topic and terms business this that, overall label marketing growth guidance, Overall, over to has revenue, this in a provides to presentation. transparency and portion been line some The business category number X into quarter, a go and years at like years With sales million nothing the the onetime subscriber from has been and essentially on at DMS than pretty the savings our QX FWA product amortization. contribution a you'll percentage product increase OpEx other as gross operate depreciation tables, to became looking cost line final see X for our These and the recorded growth streams and and has prior adjusted grown amounts, the R&D, continued for past EBITDA change cash services aggregate amortization of years initiatives, turn you'll revenue QX that this expense items year-over-year. is $X.X noted, traction in margin, that in you business. of operating in larger that in there favorable products modestly both consistent $XX as gross to all mix revenue.And dollar both and supplemental at $XX.X total depreciation combines higher to SWA a to and we gross fundamental to gained We total independently the noncore to XX% margin have results. periods one came consistent XXXX is resulted historically percentage, and that reclassified our a SaaS management our above I'd which Bill came see G&A through in conform ago a and a the and total revenue results a adjusted EBITDA at million offerings. as in aggregate FWA anticipated.
QX of decline This with the Looking down revenue the the about of on hotspot line in as XG-based at revenue dynamics, a talked coming expected in all large be quarter the a November, of was call at customer. product end nearly revenue of runoff due the revenue. previous we announced from legacy anticipated carrier hotspot product product was XG to life a to
FWA constitutes XX% On the grew revenue. SWA a basis of side, a I now on and total moment noted sequential as ago, revenue
of prior in at our at prior QX elimination DMS in on COVID-driven revenue reported subscriber our revenue, period lower, led services the about booked related carrier Looking the sequentially modestly business that of QX lower came telematics runoff to a the revenue reflecting X% adjustment revenue. and increases intercompany year other customer.
basis gross as about XXX came of QX primary This margin, in favorable margin a at far result quarter. points gross XX.X% X non-GAAP the percentage or so prior higher the was And factors. than performance basis on
made there product proportion of FWA a First, shift offerings QX. our up favorable where in higher-margin was greater a revenue mix
contract raw of a a rigor and benefit recorded as and mid-XXs million returned sales QX. some on EBITDA. a a continued goods onetime margin. And scrubbing to reserve at finished third, our are GAAP adjusted moment our materials QX margins some adjustments result the manufacturers. from These inventory Second, that excluded the FWA $X.X the charges calculation Spending and business of and telematics from there was forecasts in in I in We estimates of mentioned. demand in just on of older the of gross
as across generated versus XX%. very my our The at $XX That $X.X the the and performance we're due XXXX. was some XXXX. the was business on still QX taking spend we adjusted that nearly adjusted that higher mentioned I a portfolio, revenue to of in positive approach items, in of EBITDA Even loss the managing onetime in positive we to came margin of disciplined evolution dynamics As million earnings the of was call EBITDA the million November, a considering at $XX Inseego anticipated organization. outcome at million our was adjusted for product that outcome manage in first of focus than of this of a EBITDA and
and to $X.X of correction other to a revenue, booked with you such of QX, charge In In in quarter capitalized approximately wanted cash. was the excluded building evaluating of telematics the was structure that sense QX moment had gross of an million not as million charges our the I'll several a to. give that next-gen designation reserve our to and calculation QX, also what and EBITDA year-over-year, from service charge be sheet. at our visibility amount margin, was the for it sheet. included likelihood offering. metrics offset the up in the million, few costs the key customers currency to of in of in definition associated million we that capital and review were coming turn product functional telematics $X.X reserve impact about there GAAP we needs facility our Cash balance product we are development other the was on business. this approximately past consistent that additional the would originally in the me a conducting in in spend noncash with we any recorded years to past We against The moment. a against an recorded income balance made drawn for Let more business the the comprehensive the the the talk credit or results telematics accounts as adjusted of modest It came releases. EBITDA at to in business income for several be development year-end. intensive on an and adjusted assessment a of with months. did $X.X of our Wrapping $X.X a future software platform a conclusion fairly included designed a our after and telematics historical This
the as focused what looks trajectory on like. think XXXX that Let's our turn we're into and third we topic far so and to QX
evaluation and our in focus our core continued How As to Phil growth product increases profitability. going in how that portfolio drives assessment and business that translates of and we've begun highlighted, a FWA strategic forward.
XXXX is capital Another important focus structure. into our for we us now head rightsizing as
work parties, capital small and As optimal on notes. our last this the that anticipate bondholders with a I engaged structure develop take we've spoke of right several of about, the convertible it and our solution. have to mentioned call, we can improving the short-term dynamics. we We're group and through borrowing term, near In months been we an
them and and covenants amended by company no to we cost over few ease we've As filings, today's various upon capacity, ABL months. the with helpful the bondholder the our relationship in we're and you our ways may discussions, facility done lender structure to our liquidity the they in Similar all solution. improve have the borrowing them capital our that to be execution might overall based had improving in seen with our at engaged past and that
Moving QX on color on to some XXXX. provide
growth We hotspot. in product flat mobile roughly a revenue by anticipated XXXX offset expect in with total decline to with be QX FWA,
resulted For services some revenue, QX consistent revenue On over margin, and non-GAAP that relatively saw the percentage onetime there reasonably other higher margin in expect QX QX contribution items we gross XXXX. were that for QX. gross you in
gross expect margin mid-XX% non-GAAP we XXXX, to area. QX total For the percentage in be
Executive $XX of of like XXXX. million in million. we're a million thrilled provide $XX this, Phil closing, revenue has that all financial we'd range million In EBITDA first a adjusted to and of and quickly knowledge $X the considering and to that, to in for your the as following on move support, to deep range so Total we and taken quarter and the call guidance glad And $X.X the for from and effectively benefiting we're Operator? role, we open his any already Chairman involvement, on we're appreciate XXXX. and execution With performance our product go-to-market questions. into time addressing focus
