morning. welcome Yes, file did We happy that the thank the some I'm everyone. us XX-Q and you, morning. this this you're SEC time Stan, very to able with to with spend
I do as first depiction far available you quarter, and full the of website company it So in a goes. the to happened is refer guys that what for as
on coronavirus, of quarter end company earnings. certainly middle and our first started quarter in effects part of quarter impact a obviously the certainly the know, you you the that with So changed world towards had large seeing the XXXX we the first very know, it the and with that,
know, training at installation. look it, you require onsite customers, our and ones new enforcement generally you law If especially
end the cut short So, obviously of towards the that got quarter.
our an commercial our So like then spots shut cabs, cruise revenues. world, virtually look the had very parking NASCAR and largest on impact our taxi And you of customers the the the in at that some customers, commercial down. ships,
– You our largest customers. they commercial know, we're are and
an So, impact had us. obviously on it
down really door, we had we call all quarter camera that ship couldn't down we for us up order had One to on stacked that ship ready them incoming inability large I body that thing especially in and the turned not or it because shut we that. to that you will our be know to obviously our then and and got the there get the able our couldn't and you that, tell train was on out international the order. the go pallets country and would so first outgoing people installers
had large about very quarter a gone So, numbers had the different we'd very out. impact on some order that or else obviously be talking that
X% down Even by only XXXX that with our and – revenues from slightly going revenues than on, QX or QX XXXX then were but – from so, first quarter about our higher XX,XXX all and quarter.
in we us, X% down been thing that the side revenue good in cost news only even I'm XXXX compared X% where actually, on XXXX, The results with quarter more happening as is – revenue had had with the gross I’m the first to of sales. though the with we to happy having to less coronavirus declined So, year-over-year. pretty the our profit
XXXX XX% the XX% the quarter, gross for the versus quarter. quarter Our XXXX in margins for were
though more profit us So lower base, a really in sales up sales of know, gross on higher and for which obviously, sales customers margins better of over gives gross model it we even obviously migration the the mix. you had those see showed still were better to service quarter. line We being
look It in drop $X.X overall by the you of amount million expense almost for SG&A SG&A. in – decline. dramatic a If dropped XX% a quarter year-over-year, the SG&A which is
travel you some numbers staff costs our primarily much were We commercial the the pandemic. did know, in happening do the with reduced at coronavirus Looking of customers. in level because line was or details, reductions what
was we You as shut cabs, know, [NASCAR] dedicated had ships, down, that. as were people that that, taxi cruise well so to and
reductions on And So, first going then headcount somewhat we some showed the impact in quarter. to as have well. XXXX obviously, the up made it's in balance that good
There in Unfortunately, what adverse far our are, say goes, that a and unfortunately that fact, a the in been Axon an front as three looking expense appeal. at was judge reason I panel re-hearing asking as that. appeal legal and of the developments was is had for has some in we down there ruling
with legal the the SG&A lower for appeal really you So, know, was and spend reduced year-over-year, happening, our in reflected much it quarter.
XX% If quarter. a line, we you obviously can X.X loss profits primarily year-over-year, the or sometime a the XXXX, look so we in convertible had operating trend. Hopefully the to in our the at that's but operating XXX,XXX. see of was for very due first at an in improvement good report million line we In expense did improvement loss items, outstanding That's below nice partially of we the quarter. the operating had debt interest that
or back August happened either been That XXXX converted now off. entire paid issuance, in has which
quarter. those had for longer look line. convertible in you the no investment the proceeds are then change And below non-cash agreement, We those a of change in fair $XXX,XXX non-cash of the a at of if outstanding. that was So charge XXX,XXX notes notes the value credit
litigation back developments it's successful with paid I'll back paid reduced only of by obligation or during really you it's ago, was or – did and the year quarter. in if side, Now, we XXX,XXX the that the only that's And suit. Axon we're two proceeds on a obviously, most the estimate of our remind financing the
the loss I'm for our to happy that quarter, the given world know we that net improvement net report all we our in the, An overall had change So, that improvement said, with loss from about you better. standpoint. $XXX,XXX were which an coronavirus, with in the
important Let's look at some other developments.
staff already. the have talked reductions about We
new that, facilities, to in near now. with more or addition to we to movement service we're staff reductions the level needing not our space In We're and have service model. the moving
was our are So, that we ending. lease lucky
think You April ended it know, XX. I in
So, that one-third our we timed facility. that facilities just be the in occupancy total about new of cost have right. looked now old to The cost, we currently right
SG&A hope would for impact a in I quarters So, many makes the come. to that good
appeal. have the if disinfectant already with you the a step section. fit natural And Q&A some did eluded did about the We address in that that's we and sure line. back at add it, talk customer those base. will I'm the Stan Axon We'll you that. look about our questions really fact
fire, law, have And is obviously for You an ambulance, know like EMS this a that. eco friendly disinfectant. our anything disinfectant. or responders, need toxic It's first not
if the look same lines, cabs they commercial once at obvious that ships be And product, will have then a thing. taxi going our gets even cruise again, the you users of
have So, need a for NASCAR it. obviously will
even we forth. like reading that that and we're a maybe add on-line our devices, in hardware sprayers, is some So, category, same at and so this good temperature actually adding to so think products looking on some different foggers, product suite,
coronavirus. backfill and we it million will raised that us We long-term recently So, in challenges hope new revenue line is X.X this April we of just for the some notes. by convertible really a have in product the caused
is than XXX. position was our at So, better cash much it
We $X.X also in million protection the SBA. applied the of for and program payroll received
know, it to getting So, as get believe good up just we additional [carrying] that on carry were we're them will you but for focusing much to we that in [forgiven], the XXXX. can reductions made set results as [forgiven]. later staff of appropriate not And, that we're necessary. us We've
week is the loan, years loan it’s a call at repayable We XXX,XXX. over our interest We an small It challenges just the still one that also have what received a received SBA. two NASDAQ. or smaller, a We X.XX% with they ago. for was EIDL from a XX
You'll although changed or expectations as I has will, we capitalization today. meet to has until now it it requirements or have recall market been XX of that that delayed minimum and due that to requirement not have that not the coronavirus, equity the but June
also stay NASDAQ. $X We to XX on minimum bid until the have meet December price to
coronavirus. didn't if the, you health but that. we'll able and of We the the meet you get even we our think have be imposed that know to department the a from in, shareholders challenges or meeting that. meeting So larger could that, come We've know, also coronavirus, rules annual down I face-to-face by know, date because with tabled that to have we the with deadlines the delay our with have
going is proceed and typically be the a and two We the and been. preliminary so talking proxy we’ll I'm probably our set file future next or meeting near than later annual the but with forth, in it then will week has proxy to
when given happy with June will for it because coronavirus definite in the revenues pretty reductions know, that you headwinds the that be, warn we're do the all in So of disinfected certainly any it. impact, international that, us. the to the coronavirus and of to revenue the orders will we've cost with that minimize our hope added especially dealt I you the see seeing P&L. to I know trends in that what's you And wind up, the on overall happened with but hopefully some XX I'm bring we'll – line first our consider you quarter, the side caused
to Stan. I'll that, back So with turn it
