Venus the Concept's I Thank today Third Dr. XXXX Chief everyone, you, operator, Financial Call. on and Operating Earnings Penna; our Chief am our to joined Della and call welcome, by Conference Officer, Domenic President Varghese. Quarter Officer, Hemanth by and
third agenda recent on our me will operating brief our then begin Hemanth with an will our operating areas. key we a will update prepared results in developments of quarter Let months. share and the remarks.
I progress during cover an with several start of in what review
provide as that, our you call results, get open for financial with will review the and your third Then quarter in-depth an financial we quarter condition well With mind, agenda will Following let's in end. Domenic started. at that of as questions. sheet balance our
the initial the of quarter, were over year-over-year flat benefits begin restructuring have softer today, outlined call. sales see in release detailed the press where our international business trends results expectations the improving third pleased year. to third were on We in the issued from as we activities our revenue quarter last were to our As second executed earnings than strategic we our quarter see the we
EMEA is increased by existing from XX% to international direct our in QX, shape.
Sales and in to and regions. reposition distributors unprofitable to nearly markets efforts take partnering new partners APAC distributors with high-value to from the beginning distribution fueled demand Our business
to commercial markets, from where to are new continued partners, XXXX, evidence our the expect track. demand multiple on international second our in aesthetics ordering in profitability of and registered by efforts that in future partners continued in evolve we growth APAC, half distribution the enhance encouraged we India, are to key distribution strategy from new right those fluctuations patterns look the our in international early BlissMAX in We world. particularly largest certifications the one have and forward Australia like our markets the product products in of the we While
as results headwinds, half from business. these being major the key the benefit our improved team's the quarter, quarters.
We're in whole. the markets pushed. led commercial fourth deals end-of-quarter of products time have sales the credit macroeconomic close experience Customer the first focus prioritizing sector U.S. XX% which and third deals, to which systems overall customer recent greatest high in rates U.S. cash encouraged XXXX. did Cash to expect effective. our interest key which remains challenge business within the We in higher-than-expected of to proving volatility, compared We our to financing pressuring be to entering in new are quarter.
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and the in and our the focus revenue U.S. lease in Importantly, on respectively, total, third XX% this quarter. a impact in commercial which strategic shift year-over-year in direct XX% results, has declined
environment. the right system our company's strategy profitability that to business enhance our continued We profile. is I prioritize to long-term the to our the to the operating challenging strategy team's am proud sales continue reposition to despite believe efforts of cash commitment
X of the to Hemanth, of in notable third on respect strategic update a key progress few an wanted turn I our I call to provide initiatives. made Before the areas over quarter to with
profitability to few focused the Domenic in of path recent strategic XX% business achieved long-term we of and our softer-than-expected on year-over-year, our accelerate important the progress wanted operations underscore in used call, quarter. First, performance which sustainable view cash will enhance remain a the a third discuss profile to revenue I to initiative on to call flow cash growth. performance QX out front.
We we solid highlights as in cash later and in but our the flow solid this the in reduction results light the on our
a X given revenue been We impressive the sector the to the in operations year. first reduction growth have our over have headwinds that cash aesthetic over used last continued which of XX% particularly participants delivered months is in XXXX, facing
believe We progress evidence with this strategic respect are that performance continue making the important this clearest we to to that initiative. represents
Madryn stock. we preferred made company's progress Series September debt to into the XX, initiative material towards the financing obligations strategic secure Second, company restructure our Y Asset $XX and the Management by third debt during On quarter. of senior million its held bridge exchanged
the positioned of XXXX.
The of progress in $XX of Following total debt future overall reduction is approximately debt in evidence the and June from growth. balance $XX.X enable XXXX, restructuring down outstanding of to down and be the continued us substantial December XX% will from for sheet XX% best outstanding million, this million of XX, from transaction, $XX.X XX, obligations company as had million as
these continued continued strategic our demonstrated Venus We long-term plan. and commitment them transactions we Concept's to with has engagement prospects with execute Madryn forward are that look as pleased our to
minimum eligible requirement. with were additional October is bid notified regain day on X, NASDAQ or calendar an company by XXX Third, that the we period compliance April XX, price to until for the XXXX,
We forward update Dr. the an and to call the before Hemanth? other would period.
I look turn to granted extension are Hemanth we over related extension now to initiatives. deficiency have the will who progress to like on this share pleased recent our remedy Varghese, been to important
