everybody, year XXXX morning, filed the everyone, Good XXXX months fiscal our our Nasrat. Investor XX, XX, and at ended the the our September ]. yesterday. six [ three calling We Relations second It elitepharma.com XX-Q you, and is was for available XXXX. It's XX-Q ending in under of today. section. The for ((sic) thanks, Thank March quarter for
look haven't if please So a take already. you
to now. priority we you Before March a going wanted to year know if fiscal calendar not moving change that, is right year on, on let think question had just and the I that a we were to a
So fiscal XXXX in remains effect.
going our discuss year And the is so ending March quarter this to XX, XXXX.
I'm second fiscal the of financials.
ask I appreciate and that you questions. this and context, I color very good questions Thank to answer questions at those finance the I financial did much. some the some little statements provide always, I time taking interest, a get As received appreciate everybody's overnight. And time. any to
million a going XXXX $XX.X the million That the is or and for to were September for start P&L. quarter. to million, quarter I'm compares XX% with $X.X increase. revenues the Total that $XX.X So
compares million year-to-date were the last $X.X $XX.X million XX%.
Operating XXXX. $XX.X this to the $X.X September year, September months the quarter, and was and X for or the ended the XX, months for year, six income revenues for million increase On that $XX.X million for million
million You that for months. and million $X.X to year's and the $X.X compare six last quarter
So million $X.X quarter, million million $X.X last year $X.X $X.X million quarter, last months this profits, operating versus six year. this
we XXX%. six of increase the up around quarter-to-quarter on almost were months, an So XX% a basis, double. And we have in
this our basis, upward. So more than mentioned revenue our few quarters, on year.
I continues doubled year-to-date but to trend from a last we trend last profits
Let me million, just September recap. June XXXX, million first March had XXXX, of XXXX, million revenue. $X.X $XX.X $XX.X the $XX.X September quarter, million. this and quarter that XXXX, June label, we launched December $XX.X million, in XXXX, $XX.X million, the we of Elite XXXX,
up.
The products, reaching defined it have They've So market Phase have share. I the They're products steady we still X now. secure the for market been launched. quite market the been -- XX months of call around and share Those a Elite state, a label. in
phase to start on these have close the contributing next effect just October, but too an APAP this and to short of of it's or window, will after Both they're periods. We launched be Elite to close in those, of the too have future we're So quarter. short commercial to Codeine in they're in financials, the methotrexate a they into now launched We launched products, August. commercialization. starting
is which in Dolophine. June we and the purchased for also commercial nearing year, NORCO, for in launch. generic hydrocodone is ANDAs. which APAP, We Percocet generic Those APAP, recently are have for and methadone, and oxycodone this of that's approved is which They generic the
is true. says, Nasrat so discuss our more is even And are in is business in commercial commercialization. here everyone nearing his that pharma, as takeaway those there's more pipeline, And that more the detail that that pipeline to all it's is going lifeblood the comments.
But the in with launch. and generic So nearing of
very is robust. pipeline Our
current that factors mass trends have There's the levels is steady. the our pipeline upward to we sales of and that critical a indicating of current our We continue ability sales showing above even have revenue there levels.
cost expect on margin profit drugs?
And the that are due got new is new question. P&L, sharing drugs of after question. across Now a I moving good before and the facilities equipment go to gross up from a to Do the launched more quite big the you
about profit factors play you're at margins. So when gross there's of and lot talking a
of the and minus is overhead labor times gross have they units sales, consists profit variable overhead, is sold cost And of cost sales. materials, labor and and and which First, sales fixed the costs. price of
a here. there's moving lot So of parts
cost variable. by X But the variability Phase of overhead with So there can part the been in market. And rates. also will flattening. an factory the and But variable, in States variability can there's in regards United the variability the be The competitive, market.
Then labor reached products to hopefully we they increased and margins, pharmaceuticals volumes be be so we're costs always side, when in there. Generic there utilization products, be competitive driven as to especially the products then sales get and launched, in units regardless, established the our very and on, the price going new very and bring at they're looking market. have it's accepted, always establishment the the are
expanding increase still in available. much generic larger our market. need the players especially expecting lean, So we footprint. to more compared and the we're facility manufacturing we're have quite to more We're volumes, But to
are and And our the we've still an supplying well, demand. gives and customers. meet done always that utilization a resources are assuring always of it those range that we always demand, can our overhead very to manufacture lean a We've labor use closely and most So They rates. that to looking They're we able done we that. manage a efficient we're to of to area focus. we company, need within we're us keep meeting while priority,
very, well with scorecards, very those. they us we've customers, and Our give service done level
good So report card we a our customers. from get
with As new up anticipate. increase achieve we we're facility, the that a that increased rate the than is meet increasing far And demand costs lower increased scaling increased in to to the endeavor for production production. the as
our get So That we up. for brings less want more that's unit profit rates money. down, to this more efficient margin will gross and cost operations, the drive
company of moving operations all to look always the forward. our So large the going in growth question. Gross at is profit priority. quite this there's we as It's this lot We a area factors of subject. a margin parts an through manage
positive cash for to million. is Now the the This months XXXX year Operating moving ended interesting. down statement. also was flow a cash this six $X.X flow September
a Now last when it's direction.
When a and $X.X was the did investments million in receivables. an in you right turnaround is year inventory turnaround label was can that there's to last it cash a positive generally requirement, the it upfront Elite That capital we million. form you negative, launch a burn direction, $X.X new of compare the and of like working year with label, in and
wait well have sell have in and to to we it, buy receivables. We to inventory to collect make to it the on advance then
we've into way.
But that's that's on to generating a every as why territory But interesting positive, collect, launch cash major this XX here flow. time and cash our receivables, we all up, the goes year, they we're upfront flow rotate really So should, positive burn. goes the continue flows, cash grow. strain associated what's a of million our phase time every up, we're positive we're And they're is the is make receivable Elite months swung now such while beyond and those last inventories factors, that cash we rotating and cash that flow why inventory sell inventory and label, and into is receivables $X.X they in had
selling million we're meaning So are $X.X the we're by year. our collecting this future. receivables will more, inventory receivables we collecting combined growing, buying increased in we're more, more be Those more,
inventories, increased the points sell cash receivables, to that that in points increased which to And to to We're more results increased So sales. more. in make more increase buying receipts.
positive like see. to we They are growth, both see to these. that happy pointers very metrics continued So to of we're
statement. on the Now flow stay let's cash
products we'll are and section. There's purchased that was from growth, are a are investments June in equipment as ANDAs go manufacture property the these ones in company. as Those this investing of almost the the future are about. constructed and we that new the equipment cash couple to these there. of items that the order online, We as of which expansion.
Both for for pipeline facility, is facility we pipeline. flow Plus $XXX,XXX. they're they're the in launched. year. Looking and of the And the down, The property being added this cash lifeblood would That more I paid to part for, just and of they of to spoke $XXX,XXX purchases come part related be
when the in overall still So $X.X we investment we new With together, it had $X positive and consideration products increased flow cash into put million facility. you of had pipeline in you almost in all take receivables that, million. the all of inventory an
this far Our million $X.X increased by year. cash so
operations growth here the needed than to more So in that that even business. generating more themselves the current our takeaway and cover continued by profits is support are investments the cash
an million March That Working of of up, million, September and as just on to XX. minus on that's current $X.X since Cash assets it's now $X.X capital was liabilities. a XX. Working So increase $XX.X I we that's more than was XX September current was it sheet. as $X.X capital said, of million $XX.X is surplus the million, had March on And million. balance XX and was --
capital. said our profits I demonstrating And this. again, this this before, think drive working say every call, think I've probably but are then I financials I
Our sheet continues strengthen to equation. this by balance
Explain the might now. got variance answer quarter. sheet a on in I since as June So the the question balance well to liability
million liabilities in June in total $XX.X the were $XX.X were million. September liabilities total and So
But jumps $X went increase. the million to from $XX $XX liabilities, derivative what total out that at thing for and warrants. increase, one it's you the there's that's you That million million. So at is and the liability look in that
So increased almost million. by $XX that
So by the component $XX of derivative my by while liabilities total million, increased increased $XX million. that
are up, directly down.
In over the price. this per the $XX.X with the goes share related quarter. $XX.X of liabilities just say And the the derivative and method that if thing actually to -- Black-Scholes and the they So but level out, price the liability goes in doubled September, stock let they're price goes up. before, If our liabilities was you liability the June, million, this essentially If me overall valued goes down. mentioned price stock derivatives, down, warrants I've was stock went liability million, varies per our almost using the one the share our it on take price
-- we're don't Now are around $X.XX. now, we where but I know right
bringing you, stock thank up. everybody, So our for price
the because when of One involved There in item. liability is goes you always with a be is this effects calculation, it the see mind up. noncash of cash liability. never liability, ever ever, this will keep But the
with that we GAAP. something record Just to comply
So focus that's really the assets, looking the more especially working capital, I liabilities current instead capital between of That's -- as liabilities, area and to current total on compared the working of my liabilities main focus. at assets. ratio all the
large as you're kind accounts Generally, see you track liabilities. in other. each increase, accrued to and also as see in have We They receivables. payable an investments and with those of increase inventory going
this your side. you surplus, balance on That's The liability grew we to surplus that better a have liquid is, capital, stronger $XX the by of more important always the working surplus alone. sheet the are, want more thing larger million XX, that's quarter the September have than it the we is, as and the the $X and more side asset a our surplus, is than million
sheet I'm and that's to it with balance show is So our the focused metric regards on most does strengthening. liabilities,
one account had question of going or general to I them liability to adjusted asking disclosure with think related GAAP the was as reporting are are impact warrants present of as all, on it's EBITDA?
So that the the on we and warrant them possible we shift warrant warrants remove them. other I and we an that, for we EBITDA in from the the excluding not that requires presenting to financials first to
Elite this financial measure, financials, be considering a the an they So to at with of a But core impacts the And manner it warrants presented be flow, not time.
Everyone nature cash footnote that P&L the in to they referring the and financial what's we're can't all something analysis you're the warrants separate sheet, to is part take of really would have known the EBITDA consideration that's the they're and not statements, conducting. that in speak statement, four depending balance into evaluate I and regarding their footnote. adjusted the excluded. as non-GAAP what have to something upon separately, the and
as disclose can warrants That's depending identified evaluating the upon either really per are them of or we and So happens. include easily whosever's nature what the our GAAP, evaluation. their them exclude company
So progressing growth increasing, up, things financials and are is funding trajectory. our is to flow upward debt sheet is continue profits low. future sum the an up, capital trajectory. to maintain The growth. working are positioned Revenues internally The that we're generating on pipeline is is up, strengthening. Cash balance
So a all quite in quarter. good all, it was
Hakim, will CEO, our comments. Nasrat his Now Mr. provide
