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Over XX XX, number field an revenue Consumables systems XX%. the cumulative XX%. validated of increased system validated average the And of in per increase grew the past X quarters, to from
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expect through to gross the and the initiatives to increase. margins of manufacturing progress to offset with this basis, largely remainder we product of improvements drive continue continue declined as activity a our impact On relative compared mix currently by our year, combined slightly efficiency work the negative to way meaningful We in in volumes quarter XXXX productivity first QX we have our year efficiency QX last product initiatives. on underway
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charge the higher operate in as the G&A. down public XXXX as of million net commercial the G&A was XXXX. consisting Net $X.X loss our loss incurred included million to IPO product adjust $X.X conversion their total the sales first increase XXXX, million. to into compares million of to in company. fair value and of Class largely $XX.X in as in July. $XX.X investments quarter in due were $XX.X warrants with to million the outstanding preferred to total quarter, was stock expenses development, stock of of P&L, which quarter R&D $X.X compares This common last Moving quarter first in of and operating well a an to of expenses and This warrants operating X.X prior connection expenses a million $XX.X the our million first in marketing, first A in This in million
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million $XXX.X March equivalents XX, investments, our of and invest we to As which in to cash we continue had in initiatives. cash, deploy growth
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million. of between are $XX guidance and We revenue reaffirming our million full year range $XX
low between this the system of high reminder, range. the roughly a XX% represent As placements of potential variability and end end
relative moving to see access Rob customer lagging to bit to the As past Asia with we've a improvement pace improve few mentioned be the a compared behind. started Europe, the sites earlier, slightly over basis, months. to at in faster On appears a US
in placement it with additional our While which are for have placements, QX. we be could this teams do upside our expect is to year, to currently that, benefit provide said full outlook encouraging Having not line working, opportunities expect system system in that QX we the QX. very of number that to our a we placement
our deliver well recent commercial placement includes opportunities continue of productivity. new forward up fully continue placements as are and multi-system mature timeframe, as the year, expect potential advancing that system number world more optimistic customers, will increasing the second that to accelerate to existing to with of a half we as and placements to funnel, result. Over same Looking we that customers. open the investments with which our our many second customers also contains a This around will half
these higher give the placements the be half in us of year. confidence system All factors will second that of significantly
placements year in XX% year, of second roughly in XX% roughly and will result, made in we the placements our the peaking a that first QX. half, full the system of As with half be expect
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the For XX% the example, XX% placements placements of half and of in our system in XXXX XXXX in place year. of took second
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based year will with first remaining performance, XX% of XXXX in on at in half. the XX% our the in second delivered assumes our outlook that half QX the our year, roughly revenue the be and of halves Looking the
the Service, over we with quarterly did In sequential of in are QX. over variation overall to XXXX expecting are mid did driven favorable the mix. in few validation in expecting number we in are of comps. we in more are on In basis of of be QX be digits validated gross a be continued growth quarters. QX progress efficiency QX the the as sequential revenue the growth From standpoint, expect in line XXXX. systems in new expecting volume timing number reaching quarters a the than by we validations higher an roughly rates validations then revenue margin positive the the we placements We some improvement double XX to as quarterly manufacturing QX, average year-over-year from between on initiatives, expecting X well in QX than gross system our due Consumables, standpoint, new to new with tougher in services. prior QX, QX product continued year increasing by to leverage starting in sales and From lower due margins sequential XX% expect the with driven past to We growth QX, mainly to we approximately period
QX of our over the operating concludes on be outlook. That balance expenses consistent basis to relatively are my year. we XXXX comments on expecting with the Finally, a quarterly
this Operator? for the point, open we'll at up So questions. call
