Thanks, David, everyone. afternoon, and good
be started, strategy water strong. Before with a want I cash-generating a clear to that we and base a clear in my get business opinion, fundamentally I company solid remains that, remain growth
are achieving As David progress we COX. in described, real
in we success our tremendous in are has story ever Recovery's as I Therefore, changed seeing and not remain wastewater as business. in prospects. desalination, Energy secular bullish Our
end by and adjusted expectations almost our margin. million We nearly margin quarter, beating third XX% with upper had of XX% achieved in over a X% We board. great across the gross exceeding guidance a $XX revenue, EBITDA the
in sales increased than revenue, gas in led quarter rest sales the Moreover, over segment aftermarket of attributable compared doubled. the with Technologies quarter, more emphasis for and to our presence oil while COX desalination, previous wastewater on to in expanding $XXX,XXX million our Specifically, to $XX parts. our market Emerging our third revenues sales
of quarters uptick at existing beginning up from revenue pipeline predicted shipped to are are able difference. our We to first quarter, our projects third lighter X the We for previously successfully and risk after as communicated. in make our the see to X we X were the revenue that recognize
tremendous and executing. operation Our water job a teams did
$XXX in For of fiscal record-breaking year with XXXX, $XXX of our anticipate means balance overall a decade nearly roughly the $X the will growth. we that This from now and expect million mid-range revenue be guidance that desalination again of to to million desalination. what consecutive we land revenues million coming from wastewater and
have which address. do to fourth risks specific few the we quarter, like However, would in a I
million $X of backlog First, Israel. shipping XXXX is our to
the November, are we monitoring on to but As ship of closely we in situation today, the in track are region.
markets Second, in Southeast to we emerging revenue levels have shipping North Asia. and significant of Africa
those a as and the our increases As also these our such risk execution sales, recent within short-term have countries given larger make to due market quarter a managing up smaller we complexity to in of of calls, portion countries. emerging shipping described
in fourth for we shipment the few In and in to of last have million quarter, million scheduled the the $X an year Algeria weeks $XX India November.
these regions, have delays the of watching these delays, would them we we business. reason if to go and our simply the they and our no history clear, will for out XXXX shipments were revenue, While in of no schedule effect To timing managing on it guidance any the believe increase late real of have closely. not due are should occur, be meaning XXXX to to
once at are results guidance return in. will we call our to this year's Therefore, next revenue
beaten XX% just the margin. of we've with Year-to-date, our margin of to gross guidance gross XX% Now let's shy pivot XXn%. to
cost focus is initiatives Our success. XXXX on reduction in some showing
mix, to year We and weighted final than gross are It's heavily planned which our to on our PX QX. product our in sales our XX% of currently XX% the important expecting previous somewhat year. note ability upon to for higher is is margin to finish that execute contingent guidance to the remaining as of our our end year
roughly the as year-to-date, on grow. million managing to remain end at no we surprises we now million. $XX There prudently $XX focused OpEx are expenses here We to and real year expect our
cash year business-critical grew with enhancing customer collections receipts fourth to as robust customer current supporting on we the investment concluding timing turns anticipate capital $XXX and a between the cash investments. land million. Our owing to million concentrate range our hinges largely the within primarily and million, in balance inventory Where quarter. and $XXX investment balance this on to ranging $XXX of we We
beyond let's XXXX to established we've going and in planned, well move and business. that our that Now XXXX is water as
already we of desalination XX% roughly our XXXX. for $XXX today, of of As to sight target line have million
outside In an the our achieve as webinars target signs our pipeline confidence and regions of and strengthens This product such in municipal expanded participation we end addition, of early-stage interest our wastewater surprise upside sales grow to that wastewater business, and the team begin to owing evolves. continues least The million line to promise. us as to and $XX XXXX. our lower to gives and $XX our at Asia for can million show industry in
the earnings long-term fluctuations have due operating X of day-to-day out, pipeline project is emerging a in water the in calls, the our confidence scarcity our But to overall prior space trends or inherent as as in risks. as macroeconomic challenges into visibility in what environment. business. mega well we near-term years the the drives Clearly, our Despite markets have story discussed short-term
rates dollar past higher the producing the the strong water. of cost interest beginning increase pressures with Inflationary couple and to of coupled relatively of are years,
in XX% from to as X% a have we high are in We XXXX as fallen interest for decade so cubic meter Middle of per desalinate some increased East. past under seeing the cubic the If developer. today to to of to X% look meter from dollars a dramatically per the in cost such or regions water X% high-quality back, few X% in and have increases water to world, as $X.XX cost rates
the down desal plants, making to larger costs, more mindset industry desalination drive The continually has each construct been larger and of year. affordable
well pressure you strong reason this As our market. so know, one in is is exchanger solution why this
a shift in in has cost industry. created the this However, dynamic new
a environment. the closure now water are as being well due of reaching some interest cost high projects rate We as produce users in to to delayed the challenges seeing end rising financial
In today's between end developers, misaligned. EPCs users macro are environment, and water tariff expectations large-scale
dynamics permanently of the the alter believe of do market, our especially While we will susceptible rate likely will not near in more trajectory these term, desalination in emerging markets. slow they the growth
For revenue growth X% million $XXX modest about of year range XXXX, for the flat to we now on implying revenue desalination year's $XXX this million, next desalination for to expectations. expect in up based
is percentage project space, due slowdown even to we expect now next our flatten to few possibly points by year mega This which XXXX. fall a compared entirely and will
While are weakened XXXX growing India, been we interest see such projects, we as Egypt currencies. rates, inflation, which significant in now hit or in and in hard and projects shifts to countries shifting seeing have every by year from XXXX out beyond
are release alone We tenders account Arabia. XXXX. These than XX% our also more seeing Saudi growth delays $X in in shifts over the of in of of for million
market our the further with our believe highest energy capacity PX increased PX desalination mega-project desalination in large-scale more recovery by QXXX, our XXXX, and in could vis-a-vis device strengthens our XXXX. development projects. of comes XX% exceed efficiency in sales positive The and desalination The supplanting majority or it position the customers, very new QXXXs adoption sales make essentially up is the QXXX One competitors. resonating This market. performing is available the on could which QXXX from the and we
regain or double-digit to low and we up in has to teens sit to its mid-teens market today, in return XXXX to the high growth could accelerated we the growth where to the growth in further XX%. potential trajectory we Where XXXX believe with the even
I where could you accordingly. update more we will As ahead and XXXX on will XXXX progresses, get clarity
our the $XX Our mean which guiding wastewater this real year. to again from revenue in we once potential have roughly double to we business to are in and this in revenue million continues show strength will segment $XX million XXXX,
are projects Our that year and greatest mega risk opportunity municipal next X wastewater $X totaled million. sized roughly
effect broader our well space If path delays diversify show projects our we strategy is growth will on to XXXX. have targeted to wastewater year, X treatment performance. this These next we our the working, could outsized an into be water but next achieving range can on any for that year's achieve
desal, expect you see short-term revenue we of So remains next business our water million year. million to regardless the can robust. of headwinds achieve in see $XXX we to Overall, $XXX water
target in XXXX. have $XXX short-term by lower end mega-project we Although on remain million we the our desalination the challenges at our to end of $XXX believe achieve our we to water million channel, path of least for business
at to looking are we We world and outside accelerate the can of invest of China areas potentially how wastewater India. in
we In achieve channels for our range projects XX%. examining addition, within our aftermarket margin XX% reliance opportunities gross believe next early mega to on we up Where reduce these to increase growth for this tighten fall decel targets. the year. XXXX water are sit our we and We'll to today, should OEM of sales to
losses sales, largely we in grow sales And market show COX achieve P by margin XXXX XG skid could XXXX into gross by we brownfield of product. we our the how as Our meaning whether depend on direct solution. or will profitability
a this detail any to revenue onetime marketing will to and and to to David OpEx and in I R&D our position our you better chance OpEx effects in advise at as sales I'll Most a XX% year-end be on excluding has G&A forecasting be CEO in. inflation-related. February XX% investments will any of will had call to sales largely our dig in in after other growth clear. remain currently becomes occur XXXX, have at I'm of transition. the mix further to
year. could slowing revenue, gross sales growth growing water we margin see in somewhat Note marketing margin and spend, next softening operating a that and weaker due to of
believe are again be XXXX temporary. acceleration anticipating in currently therefore, will an and softening growth We this of
remains below XX% XXXX of revenue fall to by achievable. goal Our
Energy what We seen might be summarize, share short we sky nothing but falling water the Recovery. term, the remains headwinds our in believe desal I saying, at and not overall price robust. some despite business before, is in see To our haven't
acceleration on our installation. which successfully we and our curve tangible progress we're put started than growth like, on has deliver COX slower should by year's While if next in would making we real us XXXX
Now to with let's move Q&A. that,
