Thanks, Chad.
items my afternoon related GAAP are on reported to basis. million. otherwise results avoidance Fourth XX% unless a focus a or total $X the prepared year-over-year of basis decreased million doubt, GAAP on noted will the on $XX.X remarks all and this company's growth revenue quarter For
to products forma XX% the of global million products ARTAS As XXXX of products prior-year pro $X.X from basis by was revenue, in our $XX.X year-on-year total contributions lease systems million. and decrease of increased sale the X% services fourth ARTAS increased or in period, sale leases quarter or following revenue XXXX basis merger to services. statement, on The reported included which million revenue Total and and driven and the of on our the by in only and from a included Sales disruption revenue and of caused products services $X.X fourth XXXX. revenue the to compared XX% the million $X.X income on services November the reported XX% GAAP closing systems $X.X a ARTAS X quarter systems, of million business on increased the decreased pandemic.
a of of the ratio products XX% subscription performance XX% year. This sales sold including in we XX% brief report a whereby revenue by which our XXXX revenue for $X.X year-over-year performance fourth of decrease in in sales in of and to results and procedure less to revenue period. $X.X by total in more XX-Q which fourth how than sales category which product incidentally to strategy approximately to or line, was $X.X the geography other total an our our sales and XX% XX% filings. prior-year driven model are ARTAS change to under X% change in six $X.X consumable compared the of of driven on aforementioned million in product subscription XX commercial was cash by U.S. and a or discuss efforts of revenue quarter. or million decrease our sales traditional related The Turning in $X.X at a had fourth of the increase XX-K decrease The the kits sales sales our XXXX expected year-on-year partially improves are of of leases GAAP system flow. XX% is review or in revenue by a months cash offset payments with increase decrease reflects We frequently products quarter our focused million geography by sales million we’re versus driven quarter GAAP revenue XX% traditional million and on ARTAS in systems service million by the by or by quarter in last sales international and in compared products or XX% $X.X revenue split strong to an or and a as revenue which our X%
as directed decrease decreased OpEx to The was $X review The costs expenses The receivable the or $XX.X reductions profit compared of to and we primarily reflects of XX% improvement our gross ARTAS QX or the million. of offset decreased ARTAS related year. restructuring was XX.X% in profit manufacturing to $X.X operating P&L, million. expenses of for a margin disruptions. in driver to gross of a GAAP expense operating improve $X.X rest in margin bad marketing the decrease representing decrease administrative by expenses, accounts the of legal gross compared expense gross QX primary million business of and the in primarily operating in QX in fourth quarter $XX.X GAAP of million or to sales. and XX% Total the XX% of decrease XX% of was incremental subscription of total of decrease from our of expense expenses related at a year-over-year year-over-year to the million GAAP million XXXX and XXXX result non-recurring debt included related Turning compared COVID fourth lower Total XX% $X.X a of were Robotic strategic margins by a driven or in XX% of the our in $XX of of across performance to of This decrease our early The expenses million quarter sales fourth gross of driver general ’XX. prior-year partially by the $X revenue the million approximately XX% ARTAS initiatives $X.X R&D primary last margin XX% driven or COVID-XX a in initiative long-term expenses $X.X gross period. markets in increase reducing quarter operate. million systems, across evidence the approximately XXXX to customers collection profitability in also in million
respect to quarter and XX% collection majority however made and lifted businesses fourth improvements debt seeing we Excluding restrictions fourth bad September the expenses government were quarter with customers these in to in declined operating in by the saw marked July, fueled after hit. arrangements expense year-over-year. reopened, August second trends collections of begin items, XXXX incremental With a wave as we as non-paying decrease and October repayment the in
$X.X XX% expense we million taken and accounts with. have relates still of We active approximately that debt working write-offs approach the to in are management debt expense to our a conservative QX in bad bad
Inc, Inc. XX%. were Concept for loss per $XX.X respectively. Venus share expense EBITDA ’XX. collected of $XX.X XXXX or North average trends for compared loss loss in subscription the of the XX% loss operating to we million to $XX.X better to Venus in see for June, operating or the QX million the quarter EBITDA $X.X loss significantly of fourth of Net in level of collection attributable have fourth Returning Inc. attributable to million of compared stockholders XX% fourth of XX% the slowed lower Concept XXXX. million share quarter used and million to bad in we quarter than quarters improvement the $XX.X at XX% quarter $XX.X million May trends loss to share was the fourth of $X.XX fourth of March to net and million our total Venus $XX.X collections with America in results, quarter was improve billings XXXX. quarter of XXXX stockholders net quarter-over-quarter XXXX of maintained attributable debt per adjusted the compute while a review loss $X.XX XX% was quarter Weighted to we loss for stockholders and period, collection an in and Non-GAAP prior-year of adjusted $X.X an $XX.X XXXX in compared financial to throughout fourth QX to Importantly, and level expect the shares million the or of QX, in fourth Concept XXXX seen million, for materially per
release press this We adjusted of afternoon. in net our reconciliation a full GAAP to the have EBITDA provided loss
financial XXXX, obligations $XX.X had total million million, XXXX December XXXX. an cash $X.X operating from XX a respectively, to financing XX activities, $XX.X activities. of The for from debt total at we transactions $XX.X increase was change and as our million offset of and of balance cash On December and use obligations of cash approximately and XX period XX by cash a million, of enhanced of credit and XXXX million of line compared XXXX, series equivalents full-year the of $XX.X Turning use $X.X million borrowings of of $XX government in company loans of driven including million assistance the sheet including in investing $XX.X million activities December and December materially a $X.X the from announced by condition. debt million, approximately to sheet, cash balance of that cash
under years amended of existing Bank term we plus aggregate the our secured million a of CNB and outstanding new million First, rate $X.X LIBOR debt amount credit five of revolving A used in X%. loan as CNB facility facility. revolving Main Florida Street City down of proceeds line of annual at National $XX were fully credit a part the an bears the of with pay CNB. loans The has with of the priority loan to portion and with interest
support of allowed our which provides of million the these subordinated under secured Second, exchange principal the us Together with loan agreement owed retire $XX.X notes than convertible XXXX. debt existing remaining flexibilities strategy. X% issued that aggregate to of execution reduce X% obligations us of Madryn and our debt from $XX.X in for X% owed long-term based to we matured growth million to on refinance arrangement the Madryn repaid our principal current an the have aggregate credit with to debt new amount less would to greater Madryn amount obligations, and rates and activities to cost
XXXX in XXXX. release release our a to revenue the on guidance afternoon, expectations originally period our introduced reaffirmed review detailed press the our for as our Turning in company guidance, full-year XX January of press this
months key and and company continues XX Assuming notable persistent based increase revenue no COVID-XX resurgence ending the significant XX% increase in the XX $XX pipeline of XX range of compared expect on representing for December $XXX the XX in approximately total a to $XX to December in million markets, XX% to XXXX the activity, XXXX. months year-over-year, to of million, total of an revenue ended for million
full-year the for following not purposes. considerations we XXXX, we’re providing to offer like guidance While would formal for profitability modeling
our mix XXXX our ARTAS at margins we of than XX% markets manufacturing reducing U.S. First, by in be to growing in gross expect related XXXX, faster the favorable Robotic and systems. driven to range XX% from to with costs revenue our directed benefits in initiatives international of
of representing a Second, $XX we GAAP year-over-year. XX% approximately operating expect expenses decrease million
million expenses of XX% our impairment Importantly, year. other approximately non-cash represented debt impacted growth in approximately million, legal items non-operating and severance to expense in items operating certain excludes million related this of incremental non-recurring normalized expenses, which last including and represents and $XX.X $X.X expenses related to bad COVID-XX that operating our $XX.X XXXX, of GAAP and costs goodwill retention, expenses together
a the million, borrowing interest Third, our stock given shares of outstanding non-cash of Fourth, expect we weighted comp to fifth, million be compared to debt million. expect expense and approximately expect XX be to non-cash we average $X approximately costs obligations prior-year. approximately $X our lower we million, and D&A and $X.X
provide quarterly of of is the the last first it our not our in we the practice it would expectations to while guidance, thought of fiscal of helpful quarter transparency. week for that in share to we range interest be revenue XXXX, total are reporting given Finally,
QX call total that range in now to the ‘XX year-over-year. includes full-year Operator? our your will As XX% the open the that With of increase such, questions. revenue our operator, assumption guidance we’ll to XX%
