for Thank all you, John. us. And joining thank you
system internal velocities. exceed great external was count, increased the both distribution we displays, and where quarter, also to to SKU only within not we're another increased continued It delivering Pepsi, improved continuing of placement, improvement but continuous are we benefit from and on expectations,
the to the to our invest and have we opportunities be continue will beyond, testing As will we half in strategies growth back and year. in QX we and that we multiple of look
of In with leverage addition, the opportunities and EBITDA quarter-over-quarter. our improving have business we operating margins, across margins, margins, all gross seen
clear entire have and all that of be some testing. seen we not Before as provide very material until on jump we the progress full the clearing to us. clearance good through said, ahead and second year progress stand results, able quarter, start we regards complete comments, I to in with administrative have the we through our into weaknesses, path a things let's With will get
In mid-July, terms a a preliminary The provides agreement the cash legal to release suit. action we class in reached of updates, for securities of $X.X of agreement payment exchange settle single for the claims. in million
few best as of opposed Although we prevailed, ahead growth the business from to we that a our felt many on leadership as pace existed have was spent replaying time the growing and team a back. challenges opportunities us confident that result our of years were the that of our would
at requests or do we that have said, received. review, this time. not continue will further SEC any with the cooperate point With to inquiries any updates in that we are Regarding
our Turning second to quarter results. financial
the was months June June million, an million the three ended for increase XX, from three Our $XXX XXX% XX, second months quarter XXXX. revenue ended XXXX, approximately for of $XXX
business million, year. $XX second of International North challenging revenue XXX% from XXXX. saw the were that increase in revenues $XXX Driven period the environment an by our to same business, recovery American in from prior XX% of our we the a quarter million, the existed grew as
growth. system, consistent contributing expansion have successful More sales distribution Notably, sales growth. key Pepsi attributed growth QX new and integration within and and primary which driver America factors. club products significantly. of into several to way further be relative A robust acceleration foodservice, and ever, we've placement experienced several can resulted in the channels channels our increases with in their C&G traditional fueling to been has North our The SKU distribution SKU the found continued in volume has into channels
ACV, in following substantial growth in product velocity. Additionally, a notable observed have increase we our
a less end in days the $X and the growth, not mixing QX. million see changes of growth driver not therefore likely was QX key increase did than to centers a of outstanding in contributed we within relative Pepsi incremental the in quarter, the our During XXXX, significant inventory as
quarters. looking continue to to our In a at relative allowance, rate prior consistent see promotional we
our back expect Summer that the incorporate sales to incentive increases program year, we the As marketing programs we to will to Days look half as within of of opposed this some this fall see would the bucket as bucket. XXX and
net reduce As the percentage is year-ago the profit P&L. sales and ended to in a essence months there allowances marketing movement top-line, the $XXX within as EBITDA quarter. will but which some a from spend around not income is it of QX, increased XXX% will in sales, XXXX, XX, promotional be Gross impact three as a June the sales of $XX overall percentage expectations simply where up the result, in classified or million and for between total as will million,
is margins of the XX% packaging second profit year to Gross quarter unit waste The attributed approximately reduced efficiency. XX% and lower revenues approximately product second were outbound scrap, to freight in profit cost, and margins inbound raw-material improvement and prior the compared for in and quarter. gross improved
distribution QX meet operating the was were one stocked within continue that and to efficiencies the the in system the quarter demand. drive new third number while we keeping to our order system and optimization maintaining of our consumer shelves within goal we
the will In the second that XXs. looking the with in margins towards mid-to-high of year, operate we we gross believe half
of The potential of saw freight during lanes back but that This is will the the monitor to percentage relative has net revenues to we half second quarter area one continue improved year. to QX. fluctuate as the a
marketing quarter some increase promotional a and and the the marketing sales of at expenses count XX% of good are but velocities time which $XX sales expense We months during to margins, our ended saw will same driving leverage an SKU the put the the XX, at approximately across were budget, pressure saw our three addition, both topline rate increased XXXX, gross and marketing investment and XXXX. to allowances compared on for overall expectations. in million, of approximately of excess quarter, margin the second lines. relative accelerate Sales increased our June In delivering
marketing some program basis, included As compared would in sales, Summer a we and only will On our expect in full-year XX% months invest XX% one continue with see marketing sales two-plus further month of the to Days of year. in increase and and QX, to XXX as sales a percentage was expenditures our in prior to third the quarter.
and are and as as distribution investments working beyond sales investment budgeted we our As the albeit, across look opportunities well we spend pillar activities our which QX, to strategy, not sales will expect prior include with would our strategic programs U.S, some specific exceed and years. partner, programs marketing from on marketing we to these historical
of due relative percentage million, expenses of and XXX% than year such to the QX to were better the fees. the for QX. due of sales XX% Adjusting action which increase increased General in XXXX as was quarter, other for ended second expected expense this and the G&A historical administrative in as XXXX. versus XX, versus prior in consulting for was prior that to This months primarily as three administrative June accrual a litigation legal, was as approximately X% settlement the XXXX, quarter and with an X% class rates. increase $XX audit was well aligned is higher accrual, G&A fees booked
the revenue International in year. million, half Looking XX% was at driven the XXXX. increase of business, XX, by period $XXX our XXXX, of first million six the North months for were of for the This of first $XX $XXX approximately six XXX% American to an from first June $XXX XX, same million revenue the XXXX. June from half XXX% months half the year, in increase the grew million, revenues where ended was an ended
Gross XXX% half approximately from XX% for XX, first the June XXXX, approximately $XXX XX% the compared half. months half. were revenues in million, six to year year-ago million for of margins $XXX profit ended in the the prior Gross first first to increased profit up
improved attributed in The is unit efficiency quarter. material lower gross and and freight raw in margins to second and package profit outbound cost the improvement inbound
in As prior XXXX, a year compared half sales was in sales, half. of marketing to the and percentage first XX% of XX% the first
as G&A X% was prior the for first period. sales same of of the a half XXXX versus expense year percentage in X%
excess XX, capital as and net million XXXX, of in $XXX excess and liquidity had we in cash June resources, capital $XXX on million. of of now working Focusing
provided our the by excess amount. distributor Pepsi same due In reduced on returned in we sheet and funds the by restricted the to balance second transition for million quarter, of $XX cash representing for this balances Pepsi, the excess
capital, The XXXX. and noted. by was by XX, June XXXX, six by activities to ended provided compares income just which XX, million which generation totaled net increase the $XX in net provided by I six driven operating part flows for offset in ended million for Cash working increase in cash in the June in to reimbursement activities $XX operating an the months Pepsi, improvements cash months
$XXX at in by million, Looking the large ended inventory inventory, total in significant we quarter. saw above our versus at sales part that flat driven was the just volume. This prior increase
to are second increases will continue in the to will the going monitor look to opportunity drive keep the see of forward, year, to demand up At market, are we As ensure same we do experiencing. inventory move to we XXXX. production with half the DIO we the see able continue to accommodate into significant the we and XXXX our efficiency growth we through to we in time, as
all. you concludes may questions. Operator, open call now This prepared you the Thank remarks. for our
