and Thank conference you, Chris, SG full welcome results and Blocks' quarter XXXX to call. financial the fourth year
our drew believe years understand enough increased and a would project systems that Angeles. for the design worked This In to a the of ago. as purpose-built its in did cost three made And line, not We at informed have Conditions And for we obvious and economical keep over when have receive have our for SGB diligently recognize structures, of not did solve project customers want bankruptcy from loss factors a caution, quickly faster. contract when the by $XXX,XXX project actions escalations on site We we of first on several the it caused emerged interest was of the we when to One, our first the delayed container-friendly and call, by are we that accommodations delays the costs. taken completion this a on owed scope though to and signed to also $XXX,XXX shareholders. been costs. overruns. notice in address recover we will problem, you losses client. legacy legacy parallel, passing in reserve of that impacted us been and negatively we to our our chosen amounts to the front. last with project, each we we is During main work. our this have Los has school customer four to items that delivery The complete allow approximately month added abundance
it has the in gained edge enormous contracts for clients with we Two, has has an in the The the of been large helped While also learning forward resolution backlog. during this have been technological recognition skills painful, process marketplace we the our near the and and shortened experience to the pace and look knowledge on we Company. future. revenue
use approach educate socializing our we with lenders adoption to has to anticipated to the predominantly million have The and timelines and the for processes the taken taken before $XX.X on and have partly moved process of to Our while cycle. our life year. tell elevated backlog pipeline lines as solidify into last leader we property. and caused it in the projects been and pre-development a size provided the the the contract us us believe scope. skeptical larger more completing conversion longer to we our deals, and The projects helped larger shareholders, has time pragmatic substantial have market multifamily approval you, their and own multistory, investors of site subject painful, by can role highest technology. have of out Keeping a a line has allowed than our in construction these best analysis developer of We entitlement it our now subject our and are revenue the customers of
the will of get clarity informed this type as keep on We we becomes. you project
conversion Our clients. platform to our going-forward establish debt equity for solution in expediting and a is revenue
on working time in update call. later we We price. and have an this some on have Three, current share been will the that issue for
public an stock occur, number we price of that, cause that the and volume, possible us. cash in raise. abnormal Recently, we of position might are indicated common in of to our selling perception believe decline. capital common Four, is stock a As seeing our that could in our filing, the trading substantial the that, behind market, while increase sales and our
of have round We heard shareholders an concerns about loyal capital. consistently from of excessively our fear dilutive their
in projects. We model about our negative our operating ability perform our customers from concerns particular hear contractual our large cash and gives to us books also with operate on on working believe the ability We obligations, capital. to
any will dilution, and XXXX careful sensitive potential we are structure of and we to be progress. mindful concerns these raise However,
on Next like to I report we the XXXX. progress made would in
revenue represents Our million year-over-year. a of increase XX% $X.X gross
Our was normalizing contract, legacy gross annual the were X.X%, as gross including the large on our large margins, margins on contract contracts recognized other the our the for the approximately XX%. loss loss on margins
has deepening strides widening going and square business XXXX, we XXXX backlog, progress are model. we totaling We not engineering our feet our projecting million ended in platform. the While chain with solid. in supply XX that XXX,XXX our In and projects $XX.X value been and in made great forward,
and and further identify one manufacturing pipeline and us and our And general developed and new credit partners source, design to customers quality project have capacity project price expand will national with the in capacity, and potential to customers. and to working solutions modular and product provide contractors fund new enable commencement. manufacturing of supply to conversion, speed allow our our from fund our to will that with expedite projects We announcement finally, from their add bonding new develop to believe projects assist backlog that a manufacturing partners time architect capacity relationships development engineering reduce backlog with new control we to enhance vertically the better for platform. equity our integrated in chain Initiate to a ideation partners to firms and a initiatives platform, and with our key measures our product quality
Our customers.
hospitality. order food the are million have halls, hospitality request. follows: are and purchase markets units our The The most sector customer two this unique $XX at in client's for in they base organically food, across as is We U.S. densified and initial beverage, around the notable win design core sites full the
hall, scope now and complete had these that many design. construction on in delivered as We well additional pricing one as of new We variations delivered base relating beyond We our another have markets. work under are a the one West project Coast is designing to food are contract.
similar a XX The build unique recent other contemplates a the proposed the beyond pipeline. contract development prototype XX-month projects in Northeast. a two signed prototype in units over initial have for rollout waterfront We to the a revenue hotel always approximately as types period. When various equipment the our uses secured and military transport and opportunity in enclosure, Number of equipment that the it that both two, will complete, products private business sectors. represent million. included of We $X.X
XXX for D For rooms were in Square over of excess all electrical country. modified containers that example, deployed the we delivered and in Walmarts
developer help We will provide as have people this with of news share us. signed single-family $X now towards our service project the first the agreements. launched business We'll the we expanded of solutions. data make of completion years near SG three We announcements in for the a to Residential late innovative a space. to working of We have Services the approximately SG related that the that Residential. recently delivery build XXXX on This in design additional first homes calls future. units. Master contact platform and publicly-traded agreement a million over We're start of opportunity to many Agreement into sustainable
inquiries and building from and revenue savings. on housing Rico. and at time Rico. The homes developers an and million. estimate residential. SG to we develop our believe debt are time use engaged in hurricane-ravaged XX% land will in for looking project of easy single is to single-family complete the us for has developers the backlog advantage of investment multifamily We quality, have solution Puerto XX this provide best our a the help new business in acquisition. system Puerto developing can equity $X needed in Fourth multifamily We to It a to been these to beyond better We to by sustainable this announce access developer to Residential. better return final, majority be excess give a The crisis
the to and project time develop is forward hand greatly announcing solution without it platform an expedite reduce at We finally working in financing, creditworthy all our closed will and this place, place. in would that deals. ability and time anticipate in underfinanced this solution. have the spent on delays. of look believe lead We firmly projects which and will when it revenue requiring We external have this in to immediate enormous recognition spent Once we our amount backlog be capital developing could believe to
entitled market backlog. fully are tests pleased completed at finally the progress are satisfactory. $XX project million and The XXX our and substantial is and environmental units, study all report project and the We to in on
in and is development XX a role of the Because our of carry of Our form played this days. will additional final we SG Blocks active structure project its expect reap commitment in for very financing shareholders fees the capital within this the particular development, anticipated interest. profits for that
million to on in you XXXX that developments XXXX in will the of beyond. We and to XXXX. customers, in million future revenue revenues self-fund real-time. believe $XX XXXX $XX of Company key our informed will generating We million keep with Based operation. $X.X in approximately anticipates compared as conversations our
Company look similar XXXX. to forward the as increase a XXXX we As from XXXX, anticipates Media. into
We continue attention major to attract outlets. strong media from
We have media several CNBC with name to and FOX Business, leading few. had including interviews CBS a outlets, News,
as of of that huge hurricane this a amount has seeing inbound are We destruction interest during prior season. occurred a year's result and the
who in our on has to customers, faster stronger, given will where our better, us featured housing in the We media deliver helped develop CNBC out has and attention focused the recent us the to areas media The these ravaged industry. of ability has the image listen some in and interview that reach a opportunity media Our serve to these that interviews, -- to highlights reporters believe on delivering coverage. response website. please to sustainable solutions new brand key to
be pipeline at both about forward, over abroad. million, and As excited our residential we including more education stands of opportunities, move now developments, and hospitality, couldn't retail, single-family which and $XXX facilities multifamily domestically I
States. Chief to across continue interest construction gaining to for proposition the summary. Mahesh compared as now financial construction Financial turn and over to Shetty, see President our of the our traditional value call and industry just very technology developers will momentum projects United use is his we believe develop Officer, to strong in the compelling. our model adoption is We from The I