fourth quarter afternoon for Good thank year call. you and full and today for XXXX Quotient's earnings joining us
today's on our as in necessary our we Khan. CFO, base needs. Yuneeb our strategy, bringing capital realign was and business year me the Joining our structure steps solidify line with a call to for product transformational cost is simplify Quotient took XXXX our it
fourth quarter The a challenging saw the the spend, as pullback impacting pressure industry for revenue across was the putting in advertising a of part marketing digital quarter. one media business the and on our sector
and However, our was grow business promotions resilient sequentially. continued to
$X.X us of steps believe flow XXXX. adjusted EBITDA of margin establish net income sequential the and our we a these to improvement in operating as of in cash first time improvement generating more and XX% model enabled positive deliver took headwinds, Despite for ability operating industry gross robust we million, non-GAAP delivering by the to sequential $XX non-GAAP evidenced million since
in that and results and transformation new full speak strength in year the XXXX QX and of the Quotient. Our XXXX of we the durability started QX to journey
a build on have focus to to puts in position As foundation Quotient our Yuneeb growth a our prior profitable calls, has and the stable I primary discussed earnings been years. in durable coming and that deliver
have our of stronger. the we in Over made the XXXX, course company opinion,
margin a platform. technology a key designed focused allowed model strengths, our a second-party that greater and This First, from our we around has go-to-market our to have and business well as comprise us technology-based data profile shift and together to being deliver our product and first our programmatic to agency superior brands our full-service Quotient. for retailers, network, as provide adapt value to solution, our
structure. as a enabled being cost integrate simplify us to lower in acquisitions technology shift our provider to well materially our has and our as efforts our Second, towards focus technology
cost operating course which Yuneeb the allowed we discuss. XXXX, our Over of for to to $XX initiatives our and our XXXX, million, will in and plans us growth margins which has reinvest by I reduce improve approximately established
Third, convert $XXmillion we provides sheet facility. new of priority capital $XX made it debt liquidity strengthens our million in with business opportunity our enough our to our a credit operate and of We million believe retiring improve the capital and the structure us. our by structure for to balance $XXX front
talent and We brought new have a the organization. built management across team in new
profitable and of growth. I our will am to execution consistent earnings I initiatives, through defined model pleased a well deliver foundation series we organic our growth, operating place, for positioned to we are today. in few a which position and believe, of With with transform our this future both company and highlight
of the reach same of XXXX, in consumers overall sales the prior of time strong programmatic a a power represents to the of billion promotions the to same we signal promotions year overall $X.X promotions platform. towards believe, QX continue we We reported to our our the as growing the by period total With savings due retail delivered X.X% our our savings by versus shift QX programmatic saw In and on digital of by period. share over XXXX network of capture grow and deliver TAM. XX% to this on ability NielsenIQ, the
the the market an with pressure quarter, and chains promotions favorable is of our see averaged the quarter-over-quarter. also XXXX, from promotions grew X% supply shift we that started that In a rate to backdrop sequentially business again improving in facing our to inflation consumers business, in
these price-conscious trends we consumers. put to continue believe pressure will on forward, Looking
Volume be increased ahead levels in move addition, retailers promotional of and and will continue label expect we the both growth In brands share industry. and of of CPG to across lead to pressure for will activity private place reported XXXX, National brands to this further the important and retail brands on will market growth volume. maintain
a promotions organic we monitoring closely our drive positive are for believe shifts yield that environment We these to could profitable trends, growth business. and these
us through X% activators. more addition new our we the enabled end reach able the XXXX, to partners Focusing network of of reach and in business, promotions our and on were grow to points, which scale by
we and guarantee to -- our critical expect partners events grow XXXX, time value network. our programmatic as schedule on network plan to the retailers ability is to the promotions recognize promotions. merchandising with the aligned for digital continue This platform to the retail ability of our digital Throughout and capabilities
promotions to enables we More of billion-plus capture this importantly, spend. to the share digital promotion continue believe larger $XXX CPG
with are the we more addition, easily content with and can also on distribution for have our our capabilities and the we relationships brands support we adding new need We exciting categories to capabilities we and Historically, more agencies, offers. bring expand programmatic with new In focused for worked the new brands, of as products our purchase network. market. our largest and as with platform, widest that to now as well consumer brands occasions content regional smaller additional players verification require to new digital
capabilities content net which move to announced more be will deliver more we publisher Allison and role, driving focused continue we more for to ultimately Metcalfe partners, and capabilities innovate on promotions consumer, our units product more for to agencies savings partners, to our Officer. we this are engage our in our our growth, making revenues. we content has In our engagement believe retail generate more look the our our platform is Chief Revenue Allison enhancements for what the plan onto network. across brands As promotions drives joined and bring to more will and January as team the as new product our brands We
In platform. our built in are addition existing to we organic initiatives investing strategic around also growth, growth our
are year our We our are able of expansions to bringing business the the Digital over due Shopmium make we costs made to past with today objectives. line to investments these our products. structural and strong changes Out-of-Home in
growing retail a from drive model they year, having today. dialogue properly partners ad easy brands button across a network over launch comes as an networks did our the the TAM we've funds scaled the been countless our With a effort. our past in provide for go-to-market legacy of The where need the stand-alone with see cost the retail market not and to
European Starting a business, reach relationship first-party Building provides important extension and promotions success is as the shoppers. data network allows our our direct-to-consumer with Quotient our product of an believe with Shopmium, establish to of it we incremental for on our a has with signals been in lower The Shopmium acquired a anticipated. at we late have the United expectations. app driving we exceeded user strong Shopmium our engagement user engaged October launched than in Shopmium more cost States, early
faster the engagement We with of over have age Quotient Shopmium and being also efficiently demographics monetization estimates. base for our more in and greater than created levels demographic XX% The the key user age XX. has favorable seen demographics XX opportunities to prelaunch the of
side our consumers the is and over next they XXX,XXX XX% screens digital wherever at product XXX access targeting Our million a powerful is industry-recognized and a platform XXXX. digital programmatically are demand mobile wherever that and over reach screens to market for on digital is shop. home devices, to to With at allows initiative where through out-of-home planning grow expected they
of our to Hivestack, platform. part auto announced of business home a our global in As strategy XXXX, supply independent, digital side leading with digital partnership we a QX out-of-home, programmatic, grow
our more to to markets we digital brands, to provides access plan in screens, supply, extensive access Hivestack global and partners agency XXXX. as expand with international to
the directly their demand working retailers, also as to work retail as we to technology businesses. partner and seeing with the In media opportunity opportunity for agencies, side the addition a platform, brands of with are
and has a audience the retailer, create the of extend side to digital inventory around Our and for consumers in and demand platform, access home stores. their location-based ability reach to
we past have a deals year, and quarter, course technology as to retail we the to we media, up this of sign retailers capability, we as the over Over role the and opportunity believe signed in more the our evolve two platform partner.
also scale. across multiple The to tackle and our individual to we fragmentation manage, retail execute the advertisers retail announced retailers, target, to the through networks, campaigns in-house December, aggregates media network, Quotient of ecosystem. In one transparent measure with platform enable across central network ad launch the
sales. network, unique and a media addition, ad action to campaigns with combine has retail In deliver drive solution promotions our call to to a
of networks, positive scale have presented landscape We seen compete and largest media facing retail the looking the to both with challenges by retailers networks. the from fragmented from reception of brands,
work for XXXX, view, business the strong potential moving and growth done products. in foundation we've new our In has a for forward, set organic all with the our
part and leadership to help team, As senior board talent expanding on this execution. new drive we our of journey, bringing are
it strategic was role agencies, focus elevate a Quotient. felt critical In Allison, as Officer, Chief of also creating to brands addition partners at retail the by to our and our Retail importance, Chief hiring incredible to we Revenue Officer on
His growing leadership the clients, As product our Officer, with will we retail joining portfolio. retail will our retail. be our team of decades Jeff Williams, Chief Retail in CPG Quotient focus relationships role across as and strategic base our experience today. his the strengthening announced client on with
operational leverage spent building of the enable a Finally, we operating growth past our that company. lot created And have for in year, invest a initiatives. effort this has to robust model us, our
CFO, to Yuneeb’ and addition In efficiencies Operating taking to duties cash of of improving the will and generation. on as focus company, on also our be continue improving the operational Officer the margins he Chief role will
and have demonstrated strategy, across the capital base Over objectives. of simplify to our course align results believe work profitability to these product we quarter our we done meet early business cost XXXX, shows as all We our metrics. measurable our improvement the fourth from structure efforts, and
continue our at our we and XXXX, the the we that grow rate. market build on of company tailwinds and to look our promotions initiatives faster organic move in new profitability position emerging the growth growth to As and to foundation, into believe a leveraging top we line deliver strategic top
now over guidance. to like financial review turn and call our results to to Yuneeb I'd the
