everyone. Thank good afternoon to you, Don and
a We reflects key to report P&L are strong growth across business pleased and the all in our quarter which continued the second metrics. momentum
business we and made may of you the traffic As launch recall, into improve quality reposition the properties. traffic to our strategic our source quality a media decision initiative we to
specificated and platform. business Further, momentum revenue, anchoring Fluent across million and programs There media beyond strategy channel core the $XX.X attracted we strong and performance audiences of generated campaigns thus a success new QX, the supply marketplace, grown, with operating against to We new which up had larger our year-over-year. and of As our the expanded was revenue growth, expansion. profitable with anticipated team our what approach Through to of execution across quarter, test-and-learn delivered we've quarter second our deploy discovery. cross-promoting have properties. promotional progress and also course our our opportunities media has found our means strong owned addressable vertical new more Fluent's we plans initiatives. our In right accelerate found XX% and with to
Our markets. business growth And Discovery optimize to the continue we also loyalty, in our higher international solid demonstrated and also and rewarded value. drive and U.S. customer both lifetime CRM improve retention capabilities to
we're and in While the drive for loyalty process, the come brands, and technologies, margins and our back encouraging leaning on greater platforms to our to generate business. channels customers lifetime
our end-to-end live sales customer providing to Lastly, our agent continue advertisers. advance capability, solutions, for of strategic our service solutions Fluent agenda
the strong registration last of and In consumers media revenue in driving XX% despite sequentially increased engagement use year focus QX. and continue up monetization development, client driven our by our acquisition then monetization double-digit on the sourcing provided and higher better media the traffic yielded to on XX% quality from almost was turning satisfaction over customer product as during Our reinvest and quarter valuable increase our our traffic higher traffic growth same for our outcomes our on We clients. quality. volume properties, model. reduced has quality QX, which resulted monetization to into and in an will by The quarter compared strong traffic believe loyalty to flywheel rates focus conversion by further can more we the
to biddable continues between As of it our media driver and affiliate sources spend the relates primary the mix to media margin, platform. the traditional be
million, year-over-year QX in was and XX.X% up margin $XX.X of representing XX% revenue. media Our
$XX million invested quarter, in media largest our we cost nearly context, the in component. For paid
to same over the opportunity media overall quarter. the over sequentially which quarter's biddable last from prior second as both as profitability spend noted compared our seeking traffic we led During call, and biddable the stronger to are last favorable year. the we second media to resulting time. into the quarter, expansion drive optimize to high in a profitability in quarter high-quality In margin increased mix our we platform well across the quarter, The properties profitability
QX, on business million. expenses and and Within by marketing, a and travel, to $XX marketing million operating $X Our G&A, GAAP grew development increased an product in comprising events that driven meetings. expenses year-over-year basis in or $X.X sales million in-person mix, increase for aggregate and sales by XX%
capabilities. web-based well increased investments reflecting G&A operating as expanding Our the expenses by our the increased platform to $XXX,XXX million, we continued technology our new properties. media analytics with product $X.X expenses traditional reflecting our that on made platform, development beyond expense enhancements focus our lastly, ad-based And as investments by as and in business, internal increased as development technology media properties, strategic and in well have of
on Finally, profitability.
measure, the driven was well $X.X These profit with non-GAAP second quarter expansion, as year-over-year. of operating a expenses. million, to margin revenue as EBITDA, higher top disciplined up $X.X levels were approach adjusted overall for and along X.X% million Our line, representing by a
Moving initiatives and operating accretive we driving focusing will our on to media continue manage mix margin forward, by leverage.
strategic a place team year. initiatives this of has number Our exciting in
we will although economic while mentioned, environment growth in basis. of learnings some the advertiser levels, earlier QX initiatives us our be sequential spend QX. momentum early accelerate began these Don moderate As and will a on The navigating help
facility. expense remained lower debt cost benefiting at Our under replacement our from year-over-year credit interest the of $XXX,XXX, approximately flat
from jurisdiction all remaining of the due As the tax forwards of XXXX liability federal a cash the year. annual tax carry utilization QX, in for we expect
of in analysis, our no our business the adjusted EBITDA of $XXX,XXX. Based goodwill of and in triggering the indication and in loss the acquisition operating our goodwill our non-GAAP a of release, XXXX. $XX.X noncash with have net noncash in is As charge net second determined the of measure, reported The decline million charge We to will impairment income, million a in took described impairment associated quarter. earnings price this company QX during and GAAP company on operations liquidity. or from our that Fluent represented excluded the on $XX.X stock quarter an a impact of impairment the adjusted event
and As in are reminder, our reconciled to filings. a earnings comparable non-GAAP metrics and XX-K our GAAP XX-Q the metrics release
an as ended end We equivalents. defined cash to the in capital with year-over-year. up million current the reflected sustainable achieving traffic XX% the our minus Turning increase The quarter the million balance that are debt and strategic investments X% quarter. growth was models was of end $XX.X balance and year-over-year. right sheet In sheet. closing, business. confident assets of as working million we balance are the cash Total the on $XX.X at in $XX This represents liabilities the at quarter, the high-quality to path our of
Relations the operating our we come Investor and into the we our clients. we slower discipline on our As that to consumers, your strategy that transitions equity in and are see laser-focused with execution long-term value and times, Thank shareholders. In we time. for for the to clients the value regard, see is will business our consumers Fluent you and team of for goal intend and value expand growth building management economy hopes to in and head outreach uncertain creating markets
take to glad questions now. are We
