do welcome yesterday will Thank to let for I you everyone wanted you of go I filed XX-Q to it. be here. know us. Form have and analysis then detailed evening will through the we that It Stan more look at chance you operating joining quarterly and hopefully a had our a and results
few that XXXX I we which the way. in will events the of the during will second rest major discuss beyond for happened continue quarter, and a good of also our believe a and initiatives
at some events. let's So, of look major those
of there happened First WatchGuard $X been tune everyone what litigation has in two did had We settlement done which settlement, one, we out events. is aspect, Number million we releases, major cash so the have with press that hopefully in receive in of there. and all, a litigation.
they a suit at law to And design workaround reinstitute can and have XXXX importantly, until December and that more we workaround and where implement time.
we second received is our the and that it had million impact during settlement a to So, financials. a $X obviously quarter big
tell on that number is and the was but Axon three two, so you was would motion summary judge impact a unfortunate, is in good by The and I one, number granted reversed is number that not appeal. second area unexpected, judgment case. the
area and it the judgment by an on in have that We as we granting fully, that. be judge believe reversed will fully appealed
of to jury are timeline, that, you delayed getting with can't in the front of what but results least at is six maybe lawsuit optimistic months. and are the the Axon. judge eight, in delay date number a anticipated of we give So, in us we I and with very trial had exact nine-months problem a Axon on looking to for we that has
thing BTI in increase proceeds with of BTI litigation the financing is that way the if litigation The Axon. they out a indirect impacted WatchGuard in other were us both obligations. was and and you recall, the paid our a
So, obviously that we $X the went received obligation. so settlement, in million WatchGuard against
delay case has unfortunate to obligation. And in judge, the then Axon also of increased the due valuation the this the by the decision
financial the we values do the and the in expenses, very which fair is positive a experts that that quarter developments our the during charge non-cash So, valuation quarter. charge by obligation during $X non-operating million, the statements viewed a non-cash increase and in unfortunately, as
for we financier. on an So, it in for million of litigation $X million gave the WatchGuard, the macro level, increase, increase obligation a to but $X expected we settled back non-cash
WatchGuard. So the settlement kind of with good offset an overall to
march the case the matter, Late appeal the legal towards on on also spend the date. slowed settlement has WatchGuard the stop trial WatchGuard and
So it $XXX,XXX year. fact, quarter the spend in slowed less in second spend prior in our in and legal the than we legal were
will and the with lower end that march Axon. the continue then the we spending reversed as toward back and litigation year, costs heard through and hopefully next pick the was trial probably We expect will of appeal it up do until year
market offering law the EVO-HD which only that The second is right quarter, the second enforcement product in a major and now. video that new area announced systems. late Really the on believe in-car style technology, is the launched XG we leapfrog is the in we
quarter. late, caught definitely and delivering late launched of June that features terms in and have technology. and We XX began surpassed we So competitors in our the
for have direct we didn’t delayed did so did effect purchasing really see that get out, decisions of units customers launch a it their but revenues. on some So that our revenue We we had that share and they second that of will in spending and renewed time and how the worked XXXX the launch. market increase to review features it hope half EVO-HD we because the of lot
In reality, long its the also high in does a it especially our costs. markets, substantially technology list time our support connected compared reduce it for will competitors, but us all it leader to our XG, is since of what fully
can firmware units. that So deployed that whenever all are troubleshooting remotely needed there we and centrally push come new the or out to
So it that will of new help really us products. supporting in the of cost terms
EVO-HD the some happy seeing take second to with year. half the in that forward share So the for we and us we on look are market new of
and area category that launched moving line, there we and and sometime us, talked solutions may teams. aggressively regular events service to have at but regular really the be gone commercial take instance you of back we for in more for lot macro into what is a level is area it we football a especially is and advance events for have if step about Another an what look - single infrequent, at our
games then probably NFL half teams a them minimum played only of XX and at regular at season home.
So they needs for huge but infrequent market they for are our have us, services.
the doing full they not buying a body or are that we do to solution is turnkey what buy organizers service. our these have and So bet designed actually what cameras, is teams
stuff the cloud, have taking camera, off. they one provide And of the the events. seems management, that would all the storage, we server, the pipe been it So for to batteries each body up
announce we upon to revenues season proud Now, did obviously football expect Chiefs and with agreement we the with we that. some hometown which by generated good very us, Kansas City be our of multiyear a here are in
for at New New is is and similar announced We a a prestigious home Jersey offering we a Rutherford, awarded which which Giants were that of we very award and also Stadium, featured Jets. in East York product that MetLife
revenues our a go technology innovated and So for of a service area more growing use it we a generate believe on basis. that will this and is importantly us us it forward is lot of for a
that, know for racing team from Letterman probably not, and who also Letterman agreement which well a that very show. we are are into David in We announced two you team, the Letterman Indy racing for Rahal is a they known late-night the there Series fans, they Racing with entered year Lanigan are you those
But, Indy is live cars three anyway, of it four I where a first video got garages. their ever agreement, streaming races. And have two providing are most to the in the Series year from think they we
streaming were encouraging. initial and was XXX past our So, doing the time we are live and results this from garages that Indy first
higher again more this is streaming expectations who year potentially and the The how than our could and agreement, scores. number on service hit of was next people the of let's revenue goes develop two see some areas tuned and so into that year in broadcasts it
Kansas We company in very recently, the here hemp a now in in Kansas week for well don't or is grown area to also fact process of those announced sold. last a and be the approved just Brand City industrial who know, known allowing with and KMC partnership Brands. City is and KMC the state
do In we obviously addition that was validation working to dispensaries. grown video the hemp to other that within it documentation Kansas develop state. grown, what and words, the hemp the security for validate how want a So, Brands is it to it and is hemp we with provide got industrial to program in approved in processed are was state and be for where then to other security how growers able have also KMC
processed, now solutions, and finish, are a to video marijuana body us, industry allowing our start number documentation especially that as hemp really to our we documentation as from well for able that. And for So this is be of an need we to industrial a because states grow there with view would and obvious provide validation be for video growth as cameras.
that good for be believe of area will we us. growth So a
reason commercial you year. for revenues, that gross margins, revenues grown if So, into markets gross roughly very moving margins, tell, its excited very substantially service especially no service us as revenues aggressively pretty our service obviously you will why can financials, XX% for and very look we generate are every high and recurring anything much generate the and at I'm and us margin - the
in of believe to especially we are our increase, continue and It our we business. going new total our aggressive, industrial to we will to revenues up for solutions looking areas total continue to XX% to and with year revenues, of event prior to is commercial percentage in XX% grow say, hemp the to be Needless now that as compared our offerings. are
that litigation SG&A income it, item areas in million the really During that was negative expense look expense. our showed up expenses increase you there if as or up our excluding SG&A settlement, $X significantly. generated expenses, know And which at two in you a the is quarter, operating
see historical that on spend development as the EVO-HD, Number R&D, development reduction a EVO-HD. had one, launch will have finalize the and launched levels R&D will of I we of increased quarters coming research we to because now more actually we basis, the in the we
expense Our selling sponsorship. and due our to primarily significantly up were NASCAR advertising
us was hit So second the or quarter. NASCAR second in the the quarter race in
the So the year. of we happening see that don't for rest again
So a year. million the to XXXX a that in compared loss loss recorded on $X is $XXX,XXX net net prior basis we of QX for
flows So quiet our an more year-over-year, turn but positive. operating cash improvements importantly
flow We cash the $X.X just $X.X for second year-to-date million quarter. operating million are $X million and almost positive
flows. So the operating some very cash good improvement in
convertible issued debentures recently roughly $X.X week been $X.XX two per at provide of some share we in million Couple of or us closed subsequent liquidity events balance has to principle ago. about a that that occurred,
pending analyzers filed for are our was you were court we year integrating recently the And if into just then breathalyzer is we will notified a systems this breath patent. documentation obviously. announced our patent, put video ago of What which or we that the two doing for issuance the
go, at approached. that providers are breathalyzer maybe how some to a but is in to ways we that a and there established is how known looking kit believe take now out that well market, We we to avenue are take game market, the market but to be test there we exploring thing very changer and just going to are that
the XXXX that neither with operating we will or coupled enforcement service QX, for results really out the revenues in is of but the guess product new year-to-date of improve the there at beyond. I are new end optimistic or commercial I half day that are Stan revenues and satisfied second and EVO-HD the Board law with
it you. back turn that to will with Stan I So
