Candice. I'm joined and in Dr. President markets operates our both review. and you, and therapeutics diagnostics. quarterly call point-of-care the wearable we this Gozani, your CEO Shai appreciate two by NeuroMetrix participation on in Thank
are proprietary or neurostimulation in-house to Our diagnostic based achieve results. both technologies platform expertise in markets therapeutic our on in precision
with reduction population XX the represents pain Outside We X% could people. are nerve morning markets an of whether persons. DPNCheck in financial and condition for about first in this disease, U.S. This cash our In period all This highlights diabetic coupled diabetics in the addresses key market seasonality, a market equally We reported with in during addresses about in our top available people chronic and medical conditions acknowledged our we for addressing plan XX-Q a summer revenue DPNCheck, as U.S. tomorrow. affecting million line or XX a and of that weather the test from to the million QX, epidemic. opportunity aggregate was operations. large other Japan, a half of about usage be as markets. large. achieved recently estimated we suffering diabetics. Quell, device growth our markets. believe over-the-counter from people Mexico we China, file about well QX that wearable in US, as
equity We our to an cash the capital tranche while our of offering simplifying also supplement funded first position, structure. designed
were retail to ago shipped with devices double that sales shipped distributors. XX% electrode In nearly XX.XK XX.XK quarter. most method Turning reorder up up company $X.X the QX, $X.X the prior and we QX of was accounting was devices of sequentially million, year comparison QX to up packages and XX%. year-on-year, summer XX% to sell-through Quell million the shipments The XX% X% revenues In up revenue, quarter, XX% in down down half, Quell’s electrodes from million, during Quell quarter booked from $X.X million distributors, XX% were were second shipments XXXX. GAAP million decline Contributing months from were with retail revenues quarter sequential contributor largest factors results, GAAP value $X.X and under the in the which XX% about and which down of constituted QVC, total X%. down this the we shipments up the by total was revenue. year. Quell quarter down $X.X this to year-on-year. about invoiced for were were XXXX, in
net to future fourth sales a and balance in positive we sales. the now effect holiday convert QVC should the Our under the intend million e-commerce the deferred retail fourth sales revenue to the We year. ASU were hand that and recovery method year. new XX% second day see in distribution return pronouncement a implement GAAP will increased were amounts the September that as about quarter sell-through of our first XXXX-X quarter next end shipments policy. quarter accounting Quell recognition for indicate are XX returns that the million flat. sheet approximately this and quarter revenue we on in in Both of XX of X.X Orders X.X of which expect from were at should have of estimated this under in
of its down its to approach required XX% will accelerate inventory. the This but XX% be gauging to impact the for standard for product the year-on-year. on in will on to future our We We DPNCheck new accounting a stages Quell future place recognition revenue. sales, in likely $XXX,XXX of sell-through recognition. revenue returns line retail retailer provision total This report the shipments. were discontinue of revenue and contributed in early developing quarter third constituted held
with Medicare Our business in flat roughly both comparison second the US and Advantage QX quarter. was year-on-year in
same Mexico a our However, from where and thousand strong delayed. to In earthquakes XXXX. year, several this the Mexico was recorded OUS year of positioned shipment year keeping we order the XX% us expected a last The track the September DPNCheck dollar late for on growth full of do we was down for QX we’re thereby distributor and hundred of growth year-on-year. intervened
underway in in where are are clinic DPNCheck recovery to return disrupted while diagnostic our understand has to City. shipment It We efforts will clear activity test. a of of is particularly Mexico contact We deployed. Mexico close leading distributor our is in this normalcy the higher with degree not health been when DPNCheck local local that
actively electrode X.X The million, sales mix cash away X.X million advances diagnostic that our the to increased higher and from shipments. managed legacy of its as This revenue. or gross the recorded improvement reflected e-commerce with a higher margin Quell compared rate retail, of in margin margin sales also of and unplanned as in shift the US DPNCheck XX.X% gross QX from a mix margin not last Our test resulted margin Mexico basis sales advanced XXX margin revenue or of towards $XXX,XXX of the remaining deferral. was line, about well an year. XX.X% shift toward contributed points of gross and in X% rate QVC marketed. beneficial At for of total,
Our million a by from were to decrease operating The due professional X.X prior lower from was ago year were million $X outside of and $XXX,XXX spending service of of reflected of with X% R&D last flat about the $X.X engineering G&A in of reflecting marketing spending year down XXX,XXX and unusual There was comparison with no quarter. the costs. Sales higher million increased that $X.X in expenses year. QX $XXX,XXX cost. essentially year million items. last QX spending
versus the was usage year ago. the Net a our ended a million quarter cash XXXX. We downward of continuing about cash cash. million $X.X from declined loss in $X.X $X.X net quarter million with of in second peak million usage in million $X.X Our trend $X
a in is first structure, the the third $X of capital million executed scheduled July October. million quarter, our for in we pipe which tranche second X.X funded the late tranche was offering Regarding and
shares capital shares the price to converted outstanding, XX.X total than on This a of the million. The at the warrant warrants weighted $XX. that including market repurchase preferred raising offering average a structure is of outstanding pipe will After common million repurchase closed, outstanding. included and our less eliminates second basis. of XX.X preferred currently three million small of distraction. share money converted simplifies a as an common XXX,XXX or count and total a new In pricing, were warrants shares exercise warrants number of of the XX% X.X leaves July We with plus the tranche and have addition an outstanding as duration be years X.X million
Now strategy. comment will Dr. on business our Gozani and
