I want we to you go filed appreciate to the items things refer joining of Company. today. welcome you, know highlights, Thank that for the XX-Q the overlook to second adversely. say, understand that happened Obviously, and XX-Q coronavirus and merely I the that over do I'm totality. to for you going I a us let place of response and and the the of our is part what's because to to today the and I But, quarter some the earlier point in the don't coronavirus, What that is out. the our its I'd affecting complete it. was affected the Stan, on about rundown by go most like But good everybody. to please Form certainly, various would quarter best immensely want things
police a That's interest And So, percentage, we're limited. the in and all mainly of on the attention guess obviously. elsewhere installs, delays. diverted calls and even cases our hand, uptick do and we I other it's sales But travel can't and say would seeing we to can't in And that, pretty the what's were travel is customer their happening funding It's with hardware -- do the that. from and I RFPs, been certainly down some -- because large same large XX%. with a forces training. top-line, on is their our to the
history. if that hit order that that the of right And see that where that One just it, in country in is up units, to now. cameras these is continue ago saying hopefully we're okay body-worn view, revenues not is That is and international into The it because least elsewhere. for status. I'm services X,XXX pick year won't a revenues everything that can that Total up. that And not, for But, we were occur. on that their while, my largest is XXXX, particularly I is than and continuing announced particular And lost not trend sales delays, but don't sales a sale that's would for back been delay in headed not the dealing sure to year, obviously, have status there delay with, completely hopefully is the which body coronavirus. with the by cameras pending we're XX% we're XXXX, with Company good focusing service diverted hardware the I attention up. reasons. merely rather hard we this not our quarter. with in Not ever earlier higher think service than are So, of obvious point is end
area. better Stan as and on we're easier product alluded they for and the second subscription service both been plans and side police But, a popular, systems now much number cameras, go years. commit for Our it's contract that margins a are pretty and out department hand, has body-worn of to, enter for in offering a the and to yearlong CapEx into or two-yearlong where much for to rather than services, contract a in-car
seeing service revenue. an in uptick So, we're
of were facilities. eliminated much at we We I end immediately our we the towards the at move result We new headcount part And things couple We company. one, of the plan as XXXX. lease smaller at about of and our to a have in And a were we're at balance pretty opportunity reduced to side. nice continue coronavirus, previously, expense also we at to travel. because the enticement areas. immediate $XXX,XXX certain on looked for really happened. location think more is it's to move. that, the going Because action service-based of and at a of move picked six of overall We we took got And the rent to took Number our it place up costs facilities. we decrease going a a the a months in beginning. of price and facility nice free
-- goods The second in unpacking products, it was the of the leading all the the on during then of move, cost probably move you up expensed. and is, to noticed after move sold part we and
manufacturing you just manufacturing pretty saw and in of our through because goods manufacture the of uptick side. obviously, a product expensed cost we during of large So, on period, that anything time -- the variances And sales. sold move, didn't our variances, cost we
million SG&A year. prior That's total in was exclude a million included our you SG&A for if at reduction. the $X was that look results, settlement that, the year’s a from $X.X that by quarter, Beyond versus total decreased second WatchGuard last XXXX and second XX% excluding of quarter
few press of late direct with think So, market we've a XXXX. in obviously, the been introduced new what that that a balance second good that's I did two out we expect and releases on And talked things result some we on to coronavirus. branded really the the quarter. going products was the on expense we the putting the to through and about, also Stan side continue of
And first Shield pretty be It's of for and revenue The disinfectants it's a item some us. to and driver our own that marketplace good in is the traction our showing long-term we disinfectants. brand expect sanitizers.
The -- that what device self-contained their exceeds call second and audible a through has It's item monitoring temperature the preset temperature comes that is screening when a ThermoVU. alarm threshold. someone we an
very do it. We product. a it's advanced So, manufacture not
up manufacturer been of overseas. that a have supply is shift product. that And quickly from third-party We we're out on demand we've the because It seeing struggling for that. there a getting the frankly, chain in quite
because and QX revenue. the three commercial we or revenue. effects in our products, seeing of QX had production. total, our revenues ramp-up exceed revenues primarily branded starting on get the of of already the four because -- two to a In So, weeks have in, We're quantities we're new XXXX
revenues body-worn and was plans systems coronavirus. But, obviously in that's be on new although our effect. cameras QX, a in-car sequential the of -- they primarily the results than So, higher two for both product. by much have the also are in adversely ThermoVU were I Shield think to also, QX And basis, again, the and affected is products, going subscription QX the branded
to adopting marketplace for us is it's help revenues. our I the in think, service and really, going that really trend
we look did sheet you sheet, during our our a If balance balance complete restructuring QX. at of
years. have do shelf our do worth our number intentional. high haven't And really a cash sheet, we we Some We in $XX had of our position. in quarter. it, if situational. couple we off We cash of offerings cash, market during in price at a And it that of them that to improved the $XX it was had you of the XX of was June to now million some look used million intended which bank, balance uptick
it's So, really nice.
we $XX positive of that working million to addition capital. almost In have
loan, around that's loan about PPP the most applied be loan, the all CARES X%. is million, over forgiven the do received CARES majority or we quarter. and of Because believe PPP EIDL loan million the will the also a loan the program, for SBA that $XXX,XXX be quarter. program, SBA of like a a which the at not that parameters again, little that and $X.X We the $X.X a debt and to amortization will Act XX-year of forgiven if likely a that PPP And million in in least third $X.X forgiven, third Act, at of
At the million at Reason stockholders’ of we're $XX.X there. If $X.X undertook in quarter, the we’ve within million of -- raised $XX.X of million stock really obviously proceeds was that our convertible $XX you net quarter. debt we the converted section, improvement fully a of stockholders’ June happened at equity, reversal stock the almost about that took during price the turnaround two equity, of. proud we end XX/XX/XXXX so the which done quarter. market the XX, something did during because to is that of had of in look offerings ramp-up compared million end pretty positive issue $X.X a quarter We million, again which equity our a at deficit or stockholders’ year second
convertible So, converted quarter, well. and debt we as issued that the in got it the quarter during
the stock stockholders’ And million from warrants the the and added we X.X almost price, the of quarter. that thirdly, So had to then, during of exercise equity. of because proceeds our in uptick
do. eight years. that of So, obviously, as number very for had five, happening amount it's good the years, strong sheet and the a cash some sheet working capital things strong, with on I we very, been we time equity six, can't probably balance balance last remember and as is of now that there our the seven, and
So, of accomplishment it's, it's a us. really proud
in foolish better that hopefully used competitors lead will there. out that sheet not well balance numbers our us think Now, against haven't we're because into as situations our to competitive revenue
during we the did lot of quarter as issues, equity and bid Now, meet liability, are we the instead of a sheet the equity And stockholders’ a balance $X one a a us those strong as of minimum sheet the NASDAQ wise asset because that because changes exceed the for because quarter, of requirement our balance the offerings on an cash, requirement, both turnaround well lot $X.X of at extend the meet capital, those million it's listing being for and we we working the of with see issue so and we well of foreseeable capital. a lot on now stockholders’ not we being did don't during our point an future. and cured
-- If just a couple you to touch events at XX-Q, June that a look once the happened XX. you'll notice little like of after you bit. subsequent on I'd
our primarily ThermoVU we a we need to square-foot a we had. process logistics we our used warehouse done in new could couldn't in are put be X,XXX X,XXX distribution And acquired not frankly, office or we our very all, even And to close have of warehouse and the of warehouse, that and in acquiring for quite quarters. and products. previous take of the and that's First capabilities center a some Shield things distribution facility room of that facilities. just lot it Those square-foot
was purchase to close is and current very our it facilities a price our a good $XXX,XXX. must us. So, We property, for found office
affordable big is thing the an that we is of something in for One will notice believe that we driver us with able our termination also BKI. going a be for agreement price that financing certainly, to So, you were a litigation negotiate to future. revenue
us litigation you us If $XX BKI in remember, or loaned million gave financing.
The or be last it Axon settlements that them year. it pay going of now, litigation. litigation from court awards was of rulings adverse $X does revenues look like paid WatchGuard litigation, pan some received, court of did to the out XXXX, because think, it's and of that the not in WatchGuard standpoint. to we from out or out Axon the We I million
full BKI negotiate of So, we satisfaction for for settlement. $X.XX termination the obligation that which agreed a what we settlement took to go we've opportunity and paid. And a we with, and away to came payment, million and already
and that that $X.XX settled terminated of we've So, agreement million.
So, we back they funding and $XX if obligation. $X.XX million numbers, of million you count the paid us that provided in up
the a $X to obligation, going have life unlikely that So, I contingency we that, we million on think specific million to company million acquire And $X.XX at financing. then they kind out there that termination was that the and this if million. successfully is were Also, That's over a just that that $X of there of part point. was we're payment, completely -- as in of it agreement. roughly it a made was and named to if $X.XX transaction, in or do contract, work wanted to and
point. very is it's happen contingency that But transaction So, unlikely that again, this at out that will there.
June We So, litigation to XX, at financing. the obligation the the as end quarter, million we for $X.X of million. had $X.XX pursuant settled recorded to an that BKI,
the third paid, amount you income, as reduce that likely we've will, obligation the $X.XX in we to quarter down if that the fourth a quarter some to already and we’re gain, see million. So, potentially
quarter products, the and overall, also cut opportunity other reductions to second But, include both the and some negatively Shield by litigation which go think move, the I with the our into and did as our more major termination of drivers and expanded cost forward. and of balance stronger those importantly, strongly product the was and ThermoVU in And of done believe which as of took quarter, we only is result XXXX, positively. our and we believe be other COVID-XX, forgiveness, by as going PPP in both the balance a Stan revenue the So, SG&A. we've that decisively loan costs, get reductions the financing, our well balance XXXX will we we've hopefully we offerings for But third our to to and sheet as headcount transactions. I impacted sheet --
to back turn Stan. So, I'll with it that,
