We excited thank things of jump with and and to going it. I'm Welcome, today. on Operator. you, you lot for we're everyone, positive joining into you going share and a Thank had us
our After audioeye.com. of the of close, press is XXXX. June ended issued website press XX, the at announcing the our for in investor A release section copy we second results the release quarter a market available
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right are want plans of talk out XXXX. I the will competitors. we see But to in about with unfold we point parts don't there that However, should simply to start lay these you some plan can now because out our plans the
contract take itself to the Philosophically, margin of make market I remain will can penetration, be with gains will this, focus that knowing continues want cash sustainable vary which to our structure. ROI, longer-term and Consistent clear that gross timing and growth care bookings on goals. revenue company's are for depending short-term and on we revenue, tradeoff
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are quarter we quarter. of bookings a by quarter In our revenue, terms, at largest and growth. percentage was bookings and up was compared XXth also $X.X of the quarter It far second very Regarding had booking revenue revenue clearly XX% up strong ever to our million second XXXX. straight XXX%
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may in second have modified press pleased our results. the revenue release guidance. seen we afternoon, our you We're for bookings with we've quarter issued ranges this and both expected As
bookings and to Our confidence year level the for our be strong has for continues improved. guidance
our guidance million. $XX bookings increasing to $XX are to we result, million a As
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calls, revenues and As given and stage on choice, have I higher said previously the delayed higher have than rather at bookings. would revenue bookings not a this we
in from streams already As term at June million deferred that and creates overtime. which longer predictability excess result revenue more of revenue our a was in revenue customers and partners of XX, $XX.X our commitments is mentioned, bookings
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but second. of our the slower quarters it We best be to expect ever, than one
On year be the believe to strong. that we be fourth other this very will that also previously the We quarter still stated true. believe hand, as
our also and have strong renewals long-term very continue. of business gives the grow bookings. confidence to continue us to We in to we health strong This we continue renewals as expect
transparent to our Our the to and information give and you we have shareholder best commitment have it. we with open be is when
short previously, also in we and trade-offs term revenue and sustainable term As I ROI. penetration, investments longer market said gains margin for will gross make
and additional and making long-term plan on we have continuing scale. invest on-boarding and resources advisors personnel financial areas which have include they infrastructure started increased already for improvement, short We marketing been term in benefit PR The and efforts. investments financial consultants, to in
in will generation, our brand We investments make technology. awareness making improvements also not we in lead and infrastructure, only are
cost enhancements, key Over and key delivery the make -- expect issues marginal to patent not will also months, we end users to lower technology and and of only areas. portfolio benefiting lead six but further our next strengthen customers,
beyond. cost layering were helped effectively scale We believe they cost. began infrastructure and we and quarter, that will XXXX costs we expected lead also us in consulting second to -- the have can to reducing we believe have in costs. one-time, significantly these costs, as however, some also identified some also than areas as advisory we've higher operating did business adjust We did cost number the In we we plan and important
that our company. our We and show our options. less This announce our the to access and plan. Company to is $X is brings and to current continue of the diluted appreciate confidence we cash. in in question who a growth to from have support very total We investors believe approximately shareholders, secured me cost effective of in certain shareholders million capital other pleased of to received have our
through investors early in at As existing in announced with company negotiated million approximately price. we a today, This exercise an program has filed in resulted receiving the X-K $X cash. warrant we certain discount the XX% exercise
company $X unsecured on capital interest of a line the million, is needed. credit drawn to up negotiated as XX% an has Additionally, also for
warrant of X% year this price. closed yesterday's to the We one credit is also amount fully at issued drawn. of grant line The is premium of value a XX%
We alleviates concerns our about needs. believe that this cash combination
XXXX capital not long-term will one along cash of those with the contracts. new for existing also our and renewals longer short factors We the I to yet you, of medium achieve term, contracts refining are and investment goals. these our to and where But are and cash fuel have that remind and timing is needed influence in several accepting bookings, term and cash want the beyond. cash The still growth to in need needs we in but in from the from growth clearly cash contracts we plan nature
of we've results the discussions now ended XX, based may read financial quicker, already of through some June a the I be second had. By redundant XXXX. go will quarter little it on
to increase remediation QX, continued year. XX% channel execution primarily The In generated growth contracts last of reflecting in and we through same revenue prior over awarded time business. direct the increase additional million year our channel -- a PDF was $X.X the in revenue due increased period over indirect in the
monthly totaled the increase from spend of $XXX,XXX, At XXXX, to recurring over XX, Bookings, XX% to agreed XXXX. a which is committed XX, time. $XXX,XXX our which June of revenue was customers an with amount us March money contracted amount
multiyear could This primarily indirect in be in $X.X million, which the increase from last. Some in minimum was due of $X to year-over-year and for revenue deals of during deliver quarter them booking us. the that in will execution the channel expanding was XXX% period the contracts same the direct increase million period contract closings an partners with to channel totaled
increase The year $X.X XXX% $XXX,XXX in million, was increase XXXX XX.X% in revenue from gross the QX period. of rate prior profit to of to a an Advances gross was to technology also the the Next, which XX.X% in efficiencies terms. revenue, certain increase total in sales and in contract service. primarily due revenue profit longer volume increase led of delivery renewal in company's was
operating million Total the were million investment continued primarily personnel period. quarter and from as The and our of in and the in was QX growth in costs. from key to $X.X same increase legal due as XX% in in consulting through increase operating X% marketing ago $X.X technology expenses other year total well increase expenses was compliance recruiting, enhancements, an $X.X costs, of second which million
of to million to or available or for net per loss quarter $X.XX second our of compared stockholders in This common totaled $X.XX loss XXXX, quarter of $X year-over-year in in per $X.X increase for expenses multi-year a negative its second is share position million The shareholders, share. company to key Net the negative increased of plan. number loss year. areas, as primarily net last continue due growth a we to the
in million cash, We million December to XX, $X.X at with $X.X ended the quarter XXXX. compared
wrap Todd Bankofier. Todd? the financial up I’ll to call the details. going with that With turn I'm to CEO, over
