which guys Thank seen us this you and you our appreciate joining you, I Friday. hopefully, Form welcome Stan, morning. on everyone. I we XX-K filed have
of them. time to to certain before you had that, that. of will have spend the answer questions things So do you have but the some weekend highlights chance on some a would to hit lot peruse the hopefully a to and ask be hopefully of I intend I and don't able
of and more year talked We've obviously more quarterly That's particularly there conference depressed We there. think potentially And seen we P&L revenues. that brazen. this secret. each who believe infringement active throughout competitors WatchGuard challenging but and year. calls. we more the much about quite Axon first even with in seeing is a the we that They anyway look even enforcement out let's are price pretty on only So the more was has were frankly, other statement. And it or become the becoming at competition our no we've fierce. year with, law and think patent lawsuits Not out XXXX
are the we move that trend. and that obviously hopefully lawsuits believe and reverse knock as and to we we more forward becoming are brazen trials So we that down with able and
In and actually that addition, months Axon recent we that to we their in And that. in make regulators of that in adjustments take the we noted as weeks more that regard addressing also becoming appropriate has behavior. that notice But will intend in monopolistic hope well. and legally be
the depressed we understand law revenues taking fix and actions we to enforcement's have been hopefully So are that.
we XXXX-XXXX. and the initially derivatives. doing DVM-XXX are line things One back The is current of product was in introduced our its
up freshen and obviously price platform So EVO-HD very we've what new features and at our economical already advanced done excited need to which point. are It we has and is about. very have that a it's announced we
into or We beta are customers. test various conducting moving at now
in the product have out rewarded quarter think waiting well on purchasing the in product this not but delayed the quarter once product believe about we So in and is second new do second that be customers that we're quarter, they'll the some certainly able being we excited that commercially. and unveil new to if line third thing
our to product be commercial introducing. that this our we'll we also XXXX, over not extended we're products platform with commercial in new commercial but able line year advance to believe be will this and technology this We platform that believe that probably certainly
most cloud side is service year-over-year, into you year-over-year. the a revenue obviously revenues the that but revenue most seeing over we're more, were revenues for up increased the XXX% the --on the that us if though Some of margin generates the optimistic overall -- dig which XX% our is signs in
cloud So exciting in revenues our on in market. signs a revenues XXXX. increased shows our optimistic the an We're the near in effect of That we'll very see the taxicab as growth gross really service us overall the We revenues. to to service XX% announce margins the XX% of in in future The something sign. hopefully margin; for in and increase the versus percentage that. XX% good obviously seeing XXXX some able that's in future be that's our
fields, Services sports. investment adjacent Our our off. beginning to We some made in has excitement also NASCAR in generated are Events And pro believe take that Sports an relationship. particularly in and we
in So we're into. going that especially newer we markets these about in what's going and on excited our markets commercial are
based the almost professional push But we're nature, On which decrease if is towards major exclude quarter cases SG&A did reduce million year-over-year. compensation expense expenses you stock driven the the Overall, first side, our manage in fees we Axon XXXX and the and largely down XX% a to legal of million non-cash which end and we by and XXXX. is year-over-year of a which WatchGuard decline. are $X.X saw SG&A $X
So against expected able we're it as to we hope WatchGuard. way. unfortunately fees Axon to side. very our continue I going proud and Legal to continues. that of the to that SG&A And cases manage continue are prosecute accomplish what on We're we've been high
fees XX% there, expenses, to in got One so We've know I relief results hard say been also we've hope later address with at federal from recognize but we've but in nothing year-over-year in an had in SG&A detail here. are here and see that We good that decline platform. the thing district certainly probably court. I case to overall any the our legal are. far certainly same EVO the the on don't And to develop good but Office we results matter investment Patent time they further So call the think Stan the at will continues. able it's
have that. we've historically than less So been we very we've about how dollars about and we've done smart that gone on
expense what of SG&A we've less in So with XXXX. we're done proud
Beyond derivative and issuance had obviously $X huge versus expenses extinguishment includes interest, in total By XXXX. costs XXXX. million a all non-operating almost debt impact that in expenses values, million that changes they XXXX $X.X were charges like non-operating in in
prosecuting had the So we the all paid off are when the structured huge obviously litigation the successful remaining future litigation The patent cases. impact. were infringement since They're proceeds off investment repayment we obligation discussed agreement of only terms. with in XXXX, believe all proceed--the Axon and And able after proceeds remember in those triggered is previously. XX/XX/XXXX. do we We against debt late recur we that which not that is we repayment at to a only will pay it that in our interest-bearing agreement our WatchGuard signed
into dealt the were paid we derivatives off So expense did we're obligation and that with. with lot did not and with them means same we're we terms XXXX XXXX. that repayment deal amount so. of than XXXX. versus a of had and non-operating glad That those, to in We we happy We we structured where have going had should
look in We look is you down $X.X year-over-year If cash $X.X of was over it's the balance year-over-year. sheet, which the balance on million much about million good to reserves. at. sheet Inventory cash ended to always a figure with year our improved
to million million liabilities the versus current $X.X total declined into $XX.X going Our year.
looking up ratio the spent are our to XXXX obviously working and capital. talked and in before XXXX, balance about Basically, believe to and service So the a bit we the us obviously our on increase margins depression cleaning that it'll help the good little new Things some we current are where the big in we is that's EVO-HD stem launch forward revenue are. signs. enforcement sheet. impact The continue platform the We've of a side. there exciting for law revenues
improve. are are believe they're become starting starting to And to regulators contributor gross deal infringement the Commercial base, in lower Axon's from revenues revenues line. disarray will the a continue to and remain a case will margins monopolistic The is law we service market the with able until big enforcement concluded. hopefully patent our bottom our tendencies. to Although,
but XXXX some any in excited that and good funding things we business XXXX. strides the So for year of financing side in XXXX. made up we're we've certainly think the for sets about was the difficult us, a in I say event definitive proxy or Annual office We're have our in be statement. going XXXX room our XXXX. at May to filed we training have filing you our I'll Tuesday, will on remind thing, Last XXst, that the Shareholders us will meeting here
over that. Stan. to can--will and So With back hopefully attend I'll you you. seeing with that We look it turn everybody forward to talking
