financial I with for thank the morning, months our us joining December review current operational ended XX then activities will Good everyone of you XXXX. for Allison. and business XX, Thanks, performance begin and a and today.
call open for then will the We questions.
and appointing gratitude -- in support me me the like our several progress XXXX. I'd for for work our key team continued for executing over last efforts appreciation Board The the January inspire vision to to and plans permanent team's for months. iSpecimen in First, and the initiatives strategic their collective as hard we to on CEO extend entire belief dedication, make and my deepest and
and January, Chief joined In In Langlois, appointed and in team, which increasing productivity Eric sales drive over held is required the Officer. the and as recently and past passed has Eric several supporting innovation, we base has profitable his iSpecimen customer Eric and Revenue customer our our commercial restructured supplier elevated positions years. to scalable leading addressing online improving with collaboration seven constraints been role, experience XXXX senior results.
our largest at in deal. Throughout his confidence and continued contributed and dollar success. progress several has ability his of been closing multimillion uniquely results for iSpecimen, tremendous responsible the Eric has company's look have I and tenure to to forward
am efforts early XXXX. have yielded QX with $X.X record-breaking XX% and pleased following our make full corporate in organization our already towards tapping to revenue a I XXXX, that our realignment QX are into potential of over encouraged as revenue progress entire meaningful million, of beginning predicted increase QX strategic in review results, and to understanding we our of that some seen XXXX report
sites selected enhancement In remnants as we projects plan, part of the normal to such blood iSpecimen on-site undertaking fulfillment. at well specimen capabilities, as improved sequencing, XXXX deliberate as facilitate are and addition coordinators supplier core strategic areas identification, our acceleration very project a and in of coordination, to business, as for revenue utilization several
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expect increased XXXX. We to QX in project this starting revenue related
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suppliers on on business, our while has of specifically QX small of specifically severe our you within in emphasis each we network that that during provided are updates evaluation imbalance strategic important is XXXX technology high-levels remains As focused identifying iSpecimen supplier quarter. result and had process our has objectives. review across utilization of our the our network, a growth suppliers. a a of and corporate quality of to know, increased with And shifted supplier historically relationships This compliance subsection
during information, a suppliers meaningful supplier be will of materially us Armed able their address with understanding this Today, initiatives which supplier increased development in a underway XXXX rate, utilization department, that capabilities. ultimately increase site manner we our several and to our by will opportunities. allow with gaining to much confident am our and our are constraints revenue better finally we I
in investment continued heavily XXXX to year online our a for first record our transformational front-loaded of continued will and the demonstrates industry technology level vision the to be with Our our half commitment our at for in be marketplace.
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insights Our platform. engagement increases our further ability deliver customer relevant to with
to in XXXX. automation release track and to QX search improvements matchmaking We are our on marketplace interface,
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the and reemphasize back step a take in to company. process review strategic how was want for I XXXX However, important the very QX
is critical XXXX It develop to into strategic a plan. turnaround strategy heading --
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with these, ensure accelerate and platform opportunities able solution that Science that and researchers so search do single be global additional so, Development for utilize of unlocked To to can to Life adjacent we subjects, comprehensive fully can mission Research our a provides marketplace platform iSpecimen's biospecimens biospecimens, researchers for use desired and a suppliers their data. us. are to that connects specimens via marketplace must
our forward, XXXX focused and all As projects initiatives we this on activities, move of mission. are in
results period I'll same XX-month now to financial compared December discuss XXXX, our XXst to for XXXX. the move the ended in on period
financial are that XXXX, QX the the to company. was While quarter our $X.X fourth not commentary regarding acknowledge revenue million, I record for would like for providing we all-time an
year approximately revenue full year full $XX.X decrease compared to was the XXXX, X% of for million a million, For XXXX. the $XX.X
approximately However, million $X $X.X for the non-COVID our full company. XXXX from year the the for record or million another non-COVID for XX.X% million revenue year of increased by XXXX. all-time $X.X full XXXX The million revenue was to $X.X for
of specimens XX% XX, of [ph] during session X,XXX XX,XXX ended specimens current year compared specimens approximately the session or approximately by our XXXX. year to XX,XXX Overall, increased to approximately during December specimens the
compared in mix year However, resulted selling the specimen approximately average price or decrease change per in XX% same of period. to specimen prior a in $XXX
Cost was year $X.X of of XXXX, the full approximately for million year full a XXXX. the in X% decrease revenue
there XX, year cost -- the current XXXX. of year ended ended $XXX December the from year December period ended XXXX in of same the during a $XXX Although, prior over was by average for increase decreased the session The XX% for XX% year specimens to number year the XX, per period. specimen
approximately prior technology This the for ended of million $X to million to of cash software was not XXXX, technology expenses were capitalized this capitalize therefore, period. we developed expenses. million technology $X.X cash comprised approximately and $X.X for $X.X that outlay increased our spend and of For we from classify full year same million internally the able year approximately
period remainder million developed approximately The of XX-month amortization XXXX ended compensation was of stock non-cash expense for and XX, internally of to related approximately non-cash $XXX,XXX expense. the the December software of technology comprised $X.X
ended the by our the XX, year's period technology prior period XXXX related evidenced in compared $X.X our technology commitment our technology expenses in spend XXXX. period. December invest the XX-month the million December ended to year's launches was for for period in XXXX is successful million as for to same Total $X.X compared to XX, same technology to The XX-month approximately increase multiple prior
full and full up million XXXX. year for XX% Sales marketing million the approximately for from were $X.X expenses the XXXX, approximately $X.X year
XXXX, general website by the in efforts. marketing expenses, was sales an assets the payroll department, which and increases and costs sales primarily During related to in to more significant fixed with was specifically, decreases entire attributable our and increase into fees added team the offset expenses capitalized professional operation increase. But explains
expenses, expense full XX% from administrative was costs, increases for the increase $X.X in by million and taxes and amortization depreciation decreases up approximately software and in of and costs attributable and The expenses. expenses, insurance, and XXXX. expenses expenses year severance XXXX, debt million full advertising and $X.X general for General payroll other were subscriptions, and and facility related marketing executive the approximately year offset utilities bad to
December approximately our was of to as of $XX.X approximately XXXX, XX, cash XX, million As million balance December compared XXXX. $XX.X
reminder, was had a $X.X quarter accessing investors repayments. As restrictions loan a per no and XXXX XXXX. Silicon that of million Bank, excluding assure Western funds QX burn loan have approximately with we $X.X from Bank we our million cash the paid our subsidiary a deposits have would in to bank We Alliance. we like off Valley on Average for no Bridge
the We of financial excess in light T-bills do for to invest have an already funds moved have environment, established security. order investment more banking we policy in in and recent
on the funds that FDIC Additionally, we working institution were there our we to with increase by -- held financial Insurance. current insured are are of amount working
detail discuss the will when included our in in iSpecimen also process the XX-K factor are that will filed. adding new related and risk be We risk language in as of to
This our concludes includes -- remarks. prepared this
like please the ahead. I call questions. go Operator, open Now to would for
