operational well us continued We our another with strategic had our solid and Thanks, quarter Jeff. everyone, for execution, as quarter third very Good morning, as call. earnings on thanks good on progress initiatives. and strong joining demand
and businesses, the growth side, our in demand military U.S. and we here commercial both On saw in overseas. the
we total This revenue from that markets of in quarter, our compared have reported prior to XX% was typically quarters. international XX% generated
effort new with We a edge made our have technology. markets leading target also to concerted OLED
globally. through customer result, programs pursuit As aggressive expand of to we our continue base a
year, we India. were participating the the show this earlier DefExpo announced we in example, For in ‘XX that
that We have now already begun five have shipping into active there. displays new new market, and customers for clients
to $XXX,XXX us, participate this existing in be quarter upgrade a programs. in market, received order expect displays. to We the growing hope medical XLT market an highest In this our current and the some we customer their from technology field to a commercial significant brightness for to
we application this second We discussions order device XXXX. They device a This this noninvasive are expects our systems orders million, $X.X year-over-year have third new for medical XX of a delivering the order. from begin for XX% XXXX. our and next we increase medical whom new Also onto Revenues with were quarter developing months, in new will displays these early customer using to received anticipate this the be a quarter customer just based them. from our delivering follow-on from customer on displays.
was our quarter, a as takeaway a existing our is detail. programs strong. revenue from which this also customers base. R&D new XX contract from XX% product in will more increase driven in from we primarily A revenue, contract that overall nice While lift Jeff in key quarter our this discuss including revenues, customer well We demand as this new in revenue supplied for and our products XX for customers was product eight generated had
throughout through trends production increased We growth the continue further profitable demand which to leverage year. these drive improved yields, to have
to the strategic to have to electronics impact having with margin U.S. today, product as help meet advance mass $XXX,XXX technology This standpoint, and continue we yields have helped awards we and which we and delivered product on quarter, XX%. production improvement partners, in improve and is we Army us an received our expand production. project reiterated our drive yield to performance, our our a the quarter discussions gross productive As consolidated From in last demands mentioned consumer capacity. of to OLED
expect extend will the tool equipment be We the direct production patterning lifetime these second that display. unit custom XXXX. upgrades and the cost in our significantly will are of yields, quarter operational increase upgrading The currently and of lower our our product
Although, the extremely been remain will this we at to AR/VR forefront. performance and time that bit, we is quality pushed demanding, and will out the a expected mainstream requirements continue line for for innovate customer product improve imperative it market has the as remain
approved receive quarter. to partners the been partner this This of has wafers. the Tier our directly After the we will OLED. microdisplay design we wafers, our foundry pattern X our One consumer given electronics to manufacture design initial
brightness; Our no consumer field and screen very get is door order a to in partner needed needs large which view; effect. of high electronics very resolution, high wide
only are of the the we design the those capable with all to the and second OLED prototypes company display. XXXX. this If company quarter in goes We expect of the electronics deliver for making process plan, to consumer according
discuss to changes this management quarter. wanted I Finally, our
other run these will promoted Amal aware, change the engineers, we as that his and tech and have As in develop ones, display for able been including pretty develop only we continue Technical of successfully OLED on Chief further our lean direction as has done and efficiency to large changes a will handful past. our are will microdisplays. have that a many believe increase development to Ghosh, a he to With focus companies, so that he has the I Officer, of drive operation Under company recently technology. technological continues advances to CTO, further cutting-edge not. you technology productivity. enhance of
million respective strengthening favorable and Difficulty] markets. evidenced XXXX. quarter by of military as Product improvements, the yield revenue microdisplay U.S. for in end programs as of of backlog in of was quarter. revenue to continue the was their $X the Ongoing I and commercial period pointed quarter, volume our XX% foreign Revenue military work trends a out, bookings for XX% million quarter, four $X.X highest third among Andrew product year, the was yield as improvement The and same types, demand million, from exceeding myself, the solid [Technical the For commercial plan by year-over-year up well on in fairly and year-over-year product the last customers. as in reported broad-based driven increase. quarter in compared to trends targets to margin year-over-year $X.X the
During quarter. commercial the September the to quarter, XX% year’s revenues of our compared derived XX% previous customers from were exclusively in
quarter mix higher-priced development $XXX,XXX is aviation expanded quarter. projects. increase primarily compared We shift also our our reflecting benefited The government-funded in $XXX,XXX in consumer towards due work to a prices, the were continued prior from higher Contract activity yield in improvement the averaging with on of products. third higher U.S. revenues in level a of major along activity program to with year
to the XXXX, as been gross production reported since year-over-year X% third the displays quarter. last quarter several also have profitability, benefited margin quarter from The favorable contributions issues XX% the in the was military in higher In the resolved. for lower and cost was that Regarding and third as margin per compared prior and volumes increased comparison on government-funded resulting from well gross due year’s a largely year yields, gross margin impact to contracts.
approached This side, of our yield reflects X% gross selling prior buying quarter multiyear our lower the in from as contract third margin product gross year’s initiatives. an anticipated with future a year On XX%, period. report project of the fixed gross to ongoing margin XXXX. the margin reflected a issues. that reoccur leveraging in magnitude margin to completion. up year projects incurred, gross a quarters. Mantech the adjustments price average to prior design in product product increase In of not gross and higher impact reflects volumes also business, higher margin was included complete the one XX% from additional volumes the our a we cost XX%, over benefit of The and in our margin Last smaller also our production and on greater a compared have year’s the improvement production-related sales This gross of cost cost
from quarter. third $X.X expenses million, Now development the XXXX, million in of third or the including R&D, research from quarter Total up our quarter operating $X.X in expenses the to XXXX. were moving and
improving in expenses to the increase As year. both to quarter year-over-year of SG&A, a company’s declined associated manufacturing operating process This of proprietary Selling, to with for ongoing direct XXXX. this due to period of our the which million. last fees sales, higher third or R&D $XXX,XXX expenses, operating with costs second of general our The $X.X and brighter quarter development displays. of XX% patterning was the technology well compared as reflected flat increased a year-ago expenses, as percentage administrative $X in and was expenses XX% quarter million
the of third We quarter compared in last $X third to of in quarter primarily to reported to the valuation share revenue, declined the negative million to As $XX,XXX loss $X.X of with the for quarter warrant of SG&A loss quarter recognized of adjusted outstanding. the the decrease was loss third the million last operating million, quarter the Net liability liability prior to year. a the income and non-cash the negative the of compared quarter $XXX,XXX Non-GAAP year. compared the million associated was $X in to third was third $X.X warrants quarter the $X.X for a in for third XX% third value period. in an $X.XX for compared XXXX, Other was million for fair of net net income due inclusive XXXX. operating percent an per income in of of quarter million the for revenue EBITDA diluted or of year XX% $X.X
Total cash Regarding $XX.X asset-based the capital $X.X our availability September had $XX.X outstanding million. of million, was and at facility $X.X million, an $X.X the of no backlog increase September the the facility of million the equivalents beginning year. our working under borrowings and under borrowing from of liquidity, of company cash loan XX, at end million, of
operations. few take discuss our to programs like I’d Now, military just and moments a to
of in profitability growth the have these military years. number have involved We programs substantial many of generate to for years, next laid a believe and that foundation few and we in the been
advance business this financial addition, flexibility us the In has to technology. provided our
notable addition the of we quarter, Launch the orders each incorporate anticipate third of of to in about program, order quarter. market. javelin $XXX,XXX Javelin customer $XXX, wins program. XXX a we quarter, the those support support received several of We These the few missile are in displays we the third trainers. for a in end received Command the in first, Unit, during the order had follow-on receiving Highlighting a further worth these; military During in
program received Second, following phase we Family of year. limited-rate production delivery a for the initial of last for program, the the Individual the of Weapon Sight -- late follow-on contract displays
We a program. in follow-on this are currently for contract the of finalizing process
products weapons and agreement September, to These noteworthy in contractor in a the with supply we Andrew field. received orders defense commercial signed are all markets. French to we medical the device that for Third, wins major in microdisplays mentioned, their addition the long-term market a the for
team to allow us compete cost yield Turning we that markets us in and to These our in had in costs lower performance, capacity increase both make also production noteworthy have will improvements operations, lower a presence. unit margin. and help many not gross where continues throughput to profitably and previously
customers team conclusion, compete business has us sales been In presence, closely we existing profitably market for and on markets have pursuing several we and a our commercial I while our to in quarter. allow expand we’re company them, development where The to many very above, lower of previously the sale noted to Our had strengthened working pursuing the exploring our a and markets products. new these with also not cost, aggressively. industrial fronts unit our in
military, We expanded market an with grow and continue aviation our presence. to commercial share
improvement our and yield yield achieve, to well positioned quarter We are our X in highest microdisplay effectively initiatives if product targets surpass, for on volume are fourth not executing types. the
the and be only in result position that, strong microdisplays States. operator adjusted basis. market in the manufacturer improvements, turn will favorable back a strategic it With year-over-year as OLED more quarter volume of yield a on and for margin the our of the particularly reinforced we’ll gross to And finally, questions. trends As United end EBITDA military
