thrilled and the market In since leaders. to Jackie, everyone. candy exciting becoming quickly helped dried category XXXX, here good you, launch share morning, we our today and Thank early be call. I'm updates last the freeze
We of increase substantial results. since continued record experienced year-over-year quarter sequential an the XXXX. revenue achieved and third above XX% have of We incredible quarter which million, growth growth, quarterly fourth our $X.X representing into
sustain identifying categories. best-in-class the high-growth entered drying consumer repeating set we treats, trends the market to leadership into When brand. and a the everyday our had We we novel niche launched management technology and needed of history growing sight expertise on and manufacturing freeze with our first
share we as today on the capturing In well treats. demand market success are increasing accompanying growth our XXXX, sales retail pioneer. opportunities focused quantities, our treats. increasing closely which we dried of portfolio outperforming their and our helped strategies Excitingly, develop the the across and have our space, customer expansive to the SKU their growth innovative seasonal our us new continued reflects strength blooming working treats freeze and expanding Our candy for with snackable as nascent base. Customers order are forecast
production increasing this meet implemented To we've strategies capacity. our numerous grow to demand,
As quarter, fourth Irving, we we volumes. in a during distribution previously the capacity heightened square our and warehousing optimizing XX,XXX leased foot for order facility shared, Texas,
with fifth construction driers We quarter completed February our freeze freeze and by and operational expected year. in to sixth be of of drier completed third our fourth this the
product our Our initial facilities in to co-manufacturing from are sold aiding meet we arrangement demand. sales received, needs as freeze packaged drying This and in growing December efforts China helped XXXX of with meet China. our shipments
our products, more most fulfill portfolio diverse with products larger freeze control a more in up of Colombia working capacity manufacture difficult also our began freeing These internal demand facilities quality to in Leveraging XXXX. us flexibility first and the rigorous the drying facility our for our February passed supplier popular also approval and scale. the foreign allows in to allowing We shipment high quantities, co-manufacturers programs. for at while arrived all SKU
quality possibilities increase production, international also are This maintaining standards. food further We would while facilities. additional to and enable to evaluating exacting us with respect safety manufacturing our
service hire opened Mexico, to low-cost Monterrey, a sales departments. and accounting, employees shared support in our we center marketing and there January, help In we'll
additional will this of in build-out provide further our progress As capacity, we updates. we
customers' production assortment XXXX base. customers capacity all our both onboarding we of existing capacity and From as of demand. and customer Expanding new to diversify allows of support QX paused our XXXX, SKU production us further mid-QX increase existing traction to our we to our meet our
Below, Target Our co-manufacturing in stores, X,XXX in stores Cracker expanding XXX expansions, launching X an March increasing and has and production portfolios in SKU in exciting SKUs Five into target anticipated convenience February, increased increasing at into and K X,XXX Barrel counts Circle in-house approximately to launching including enabled CEFCO store stores June.
launches Crunch City, us Hobby dried of General ice launch jumbo Geeks, pending included Crunchy have sour Jumbo cream Kroger, Recent and and also in sweet which SKUs. and spheres, new versions We Dollar capacity production Crocs, Sweeter bites, Party sandwiches. our Cream has Expanding freeze X-Eleven, expansions Vanilla, Lobby. Neapolitan allowed are and to SKU
Growing demand and broader point competitors of only our our demographic, key the serves SKU buyers. a to appeals a not retail as significant from answers portfolio from differentiation customer but also
team, Our our exponentially. revenue and success efficient grown lean remained is by our made has has as which possible even
months, X production growing doubled, more past continue it expect and has we the than Over our XXXX. throughout team will
Quality. operational positions also our yet new corporate Our Food, powerful Director team, sustainable a that and built Throughout expansion Accounting the for team growth of of foundation external America, has has including America, and a aggressive Director Latin infrastructure, and Co-Manufacturing co-manufacturing received robust a us additions, of Director QX, of Latin in XXXX. partnerships internal Safety a from in
in pausing establish QX, necessary resources provided customers our of to room onboarding QX foundation. the and the through this enhance Strategically new
with year. to to executed While enable was groundwork this the it sequential of foresight fourth support in deliberately of growth us QX second much laying this quarter and the approach relative manage resulted the half and smaller the greater would that in effectively now expansion XXXX,
aggressive trajectory. combination this efforts year in-house in sales the to have QX With ourselves we both of group co-manufacturers, production maximize growth of meet and our capacity, to equipped the of demand our
be We million QX, QX, units QX. and are growing in and X.XX million to QX, units in million able X million to units in X.X aiming in units produce X.XX to currently
of total a For XXXX. in XX million approximately units
that detail, describe and to swift excited greater before lie results. and in built We our opportunities and XXXX like ahead. significant quarter momentum year But full XXXX are financial I fourth for those I'd the review in
$XX,XXX period in million the performance. of $X to million and in Revenue financial for our compared significantly same fourth increased for of the XXXX into XXXX. the quarter XXXX third quarter Moving to $X.X
in For to increased revenue to the compared XXXX. $XXX,XXX million full year, significantly $XX.X
quarter-over-quarter be strong growth dried capacity of dryers driven and of for line the second co-manufacturing freeze the to pivot growing top our first arrangements and strategic X expansion market with new along candy from the in continues candy, quarter our coming freeze addition freeze online. the dried by XXXX Our of
Fourth the for XX% margin fourth profit $X,XXX XXXX the $X.X in compared gross in to period. was to quarter million prior to X% Gross quarter same increased significantly of the XXXX. period in compared year
carefully our aim gross quarterly to As our our we improve continue capacity as manage XXXX, pricing. and move margin we have we to into increase
significantly $XXX,XXX to was Gross XXXX. increased for profit gross $X.X XX% to margin XX% year to compared million XXXX. Full compared in in year the
the period, profile been higher the of gross margin our which prior original relative product discontinued. we lines comparable to year-over-year driven products expansion candy have Our the by year sold food margin was in
of the in were compared expenses to $X.X XXXX. same quarter fourth the Operating XXXX million for million in $X.X period
call, As expenses previewed warehouse Texas. on additional in our last of our and Irving, space QX lease operating distribution included our
for quarter S-FDF, million in For the year, the the LLC, of full quarter to compared comparisons our acquisition full the of Operating year. $X.X a million XXXX included million and related fourth XXXX operating to impairment both impacts which charge year-over-year goodwill $X.X XXXX. expenses in expenses were $XX
gross GAAP loss the XXXX. in net the which higher for the of same The $X.X compared for reflects period million we was net a income the generated quarter improvement quarter. million profit, to $X.X during
of We drive aiming are quarters improvements profitability the over to further coming XXXX.
quarter, The For the expenses. XXXX. of improvement was by which was significantly to to to profit a $XX.X the million interest due loss loss in full net GAAP gross increased year, net improved compared offset $X.X higher during partially million generated primarily
for loss just $X.X mentioned. fourth goodwill the reflects the quarter XXXX. Adjusted XXXX charge, XXXX to the same in a $X period I negative million fourth Net year in full compared EBITDA quarter in both of impairment of improved impact the to $X.X million and the million
full EBITDA year, million to improved $X.X adjusted million negative in the $X.X compared to XXXX. For
issued At towards the equivalents million capital from of cash the completed $X.X products. $X.X XXXX at our price shares to raised compared share supporting private per XXXX, and million for last newly strong [ cash XX, (sic) at November to $X.X XXXX. $X.XX a ] In XXX,XXX million price we customer placement million December candy December XXXX, demand targeted XX, additional were raise This XX% $X.XX. premium our represented is our a a equity and
goals. Operational
compromising would diversify and SKU Two, to priority.
Number treats, freeze vital a breadth demand, to one, continuing achieving call, the aim our as laborious optimizing in conclude construction I our areas of online SKUs continuing infrastructure portfolio expanding today's XXXX. QX which candy It other do will our to sixth current international core pillar agreements. Three, competitive we're base our both freeze the pioneer additional and XXXX. our by these we bringing of fifth produce key customer remains popular our for on advantage. is and is co-manufacturing and demand or the industry. in driers include ramp our like review meet and margins production enabling us innovation key as dried to of first efficiency. support of Before Four, production expanding These we us foremost our a which more while is completing most overall our of larger some allow operational quantities focus to to without strategy capacity that of we our
scaling preserving and strong a we're this strengthening One We we growth bolster operational on to stand trajectory. now foundation we as made conclude, we've committed additional freeze XXXX, bedrock. believe year the fiercely in To progress on committed to ahead, growth leadership already our in In and we candy category. us beyond. and for enhancing our remain far the in thus dried preparing QX
already Sow is short we time the have and future a of proud bright how ahead for of excited team of in far Our period Good. come
consumers exciting focused flavorful XXXX niche freeze continuing everyday an and innovative, are from growing treats. expansion production candy on We category, avenues in with dried market providing a of to our and