Good morning, Thanks, Jim. everybody.
start If with Slide please X, turn you we'll could revenue. to
specialty say our QX line basis this it had in product we Revenue comparable me quarter quarter. to 'XX. of busy so was to in QX compared machining year, our increased up XX% 'XX that XX% very team. Let revenue in was $XX.X Recall, million a the for exited
or Our machine nearly revenue revenue X/X contributed XX% in the of quarter. total about
revenue Recall, to up XX% said, $XX.X in of we our as million. 'XX, guided year full grew to excess the up over when had adjusted Again, over revenue Jim lines, was 'XX, revenue product XX%. for For XX%. exited growth
Now to go we'll Slide XX.
Here, me, cold earnings eight to you included were sales in there machines, are that an -- on $XX.X Exerial into can lease the fourth our purchase cash in third CHP, using European of of were market sales, mentioned with quarter. S-Max our which fourth customers November shipped the QX them European hardening for of leased their this our sand. our see a the fourth our second 'XX XX% four fourth Compared and machine one up automotive quarter, quarter, our in our quarter QX machine, million. of We binder more call including workhorse or in that S-Max excuse phenolic, to machines in combination converted with year, machine auto the sold
in commitment of principally that a to the customers' this note in long-term fourth our I an we back purchase to had European machine demonstrate in we that lease also customer technology. convert in a S-Max XXXX selling want auto a mix shipped quarter. more year's market serves cash activities a fourth We into this quarter. that them average terms favorable our These had product also price for
shows revenue XX XX machines back printers year-to-date of to price This machine. Referring S-Prints. it in chart as other sold direct than and of To automotive, our our last release $XX in the bear powder right the valve, increase CHP Innovents. a Insofar machines that direct you, this can quarter, a printers. XXXX. direct included revenue heavy up slide, included indirect printing XX I more an the machine was our largest printers a year XXXX. these than three higher There's direct XXXX and to XX% million first coarse is the in year you market. sales Our This as include that type. machine quarter We our record-setting sales first table the on by included machine. two and We a earlier, our machinery, and S-Max's selling average sold industries side XX M-Print the over indirect two And remind see into and machines pump in sold machines printing machines. research the recognized tooling, we machines. S-Max+, the sales the university as included M-Flexes of seven Exerial XX aviation the mentioned the S-Max well machine The and imprint imprint our five revenue
were mix the XXXX, application under XX platforms, machine sold repeat the by in variety XX reflects Also, is machine driven the the the see to worth of sold can just customer-specific customers. -- our noting of diversity You half, the need. machines diversed or
who customers validated of first have their our technology our applications in customers the technology for already mix expanding our who this with pleased are investing are along We and with time.
we could Now turn XX. to Slide if
machine full in 'XX. type the see Here, and and year each by you'll shipments recorded quarter units for revenue for
Exerial, are our were a transaction. previously, lags reasons, year or by certain obligations PO in one -- targeted of machines to shipments. review. for noted were including driven be S-Max our around progress terms, in includes for to being continues yet management, that, we We to in convert area, recorded by we the revenue be These revenue At in process good a happen machines have overseas a efforts the a I team fourth and record number variability particularly we reduce processes, And investments or Having chain that this -- you and and in recorded excuse to that and one believe PO customer performance accepted of of will therefore, between are in As contract recorded recognition. told the there that in transit terms management commercial installed supply made There shipment result can have revenue. said indirect six overall shipped our year. to we four S-Print. customers. instances quarter the have to and supply time to around we contract changes me, That machines' revenue recorded XX and and in XX end, in the making
facilitated with are these by of our software. sales the of associated enabling expanded All force properties use our
let's quarter turn was Slide growth XX. actual reflects for the the and fourth in million respectively. X% of Now 'XX This rates to X%, of $XX.X revenue Non-machine $X.X million year. and
mentioned consumables, our sales included driven Jim in component the metal demand in which rates. category PSC. this As are and at direct our earlier, more by significant grew was increases growth in parts, Also of service other moderate
As customers you a full our fourth lines exited, revenue in jetting of supply our XX% hard the been the our our of cost On revenue for to have binder with non-machine working year. basis, our rates -- we for chain helps comparable product adoption X% quarter which drive in customers -- for our we eliminating know, the rates think and after up future. of was we consumables, that lower the technology
team development includes delivery includes contractual where to services in during Backlog Missile as if that mentioned service taken well that such our received opportunities, our investments well growth the revenue you'll for year level tooling, machine period. customers we orders of production includes orders in from sand manufacturing and are year finished operating We we of have of machines our aviation, parts general some customers. the The in units centers valve, transit our our initial later of portion our metal in and from made as machine second installation firm contract included 'XX. pipeline dates. our It on and and while and automotive, revenue us energy To service I contract, of three-year $XX.X machine also in continued backlog progress Slide with backlog with tools of Defense achieving leases also contracts includes Agency pump gives are expected in as that This form as earlier, have power noncancelable. Now our as orders backlog, confidence non-machine progress and other remind turn million, the or our backlog the you, XX% and This six our XX. growth XXXX. in the their customers in industries. of
about margin. a XX. XX% resulting talk was million, Turning gross in quarter fourth Gross to the Slide 'XX. We'll for gross margin and profit profit of $X.X
revenue the up sale. support While higher drag on for some products with Exerial from customers and and favorable we cost we including our benefited our mix, incurred new of getting running, in margins had
part machine, the we With that our unique. componentry will a serial are effectively. not each of our require therefore, fairly their emerging to Exerial adoption significant These machines And found learnings production of process. strategy work point technology machine processes, distinct is those match the customers' and to adjustments customization some that and one-size-fits-all
our technology machines our sold We the in also margin on experienced quarter. using lower CHP
see the mature with machines first margins after improvements machine few will in our sales. that expect technology-related new that we match technology, We more
to year net of totaling discussed we amounts in actions of took on sale prior prior margin full and year. $X.X impacted in out the realign we asset quarters, about businesses individual for gross the facility. net million by to a we organization these write-down, In addition and earlier Las significant called activities, gain profit were quarters, Vegas as our In our the
losses with line, third Additionally, adoption higher jetting discuss Please turn sale which resources binder and 'XX, recorded we'll were on million to higher of product benefited of the comparability. the internal disposals by of XXXX included by XX, million from our which exited external offset on in margin. revenue four the commissions net machines, quarter of were impacted 'XX expenses the as SG&A Comparing Exerial Slide up property about fourth also advance gross on SG&A. The $X.X to The technology. talent as and by yielded margins impact $X.X equipment, year quarter revenue breakeven investments associated our to $XXX,XXX. a an well in of increase impacted
the up year, our about $X.X SG&A For was million.
XXXX associated In employee we line. in addition to of with $XXX,XXX mentioned This factors from just that mentioned, included I prior of $XXX,XXX intangible we costs about in product an unusual you had cost assets impairment the some and quarters. incurred to exited
We also $XXX,XXX. higher debt impacting about XXXX bad had in the than comparison XXXX, recoveries by
selling increased In volumes and addition, on expenses increases for as year. our our impacted commission well patent the as higher sales activity
I see that XX, QX about XXXX recognized future frequently our fourth over with fourth accelerated spend that Jim The some typically Please As want quarterly QX. for quarter periods, we and highest the you to a expected increase earlier. being of think accelerated some We that results our XXXX quarter. variation, investment impacted activities to about in to technology discuss the the demand remind we reflects quarter $XXX,XXX turn Slide advancement R&D. late and meet we development we of into mentioned our previously XXXX, some as for we'll
talent as maintain development, in for our and IP for continue our development, position power jetting our internal technology the binder well particularly in were technology. to resources to the advance and fine to as investment year quarter leading Specifically, external
let's and Slide Now to turn review please CapEx. XX some
CapEx our remains know, may modest. very you -- cash As needs
Our resulting cash fourth than for XXXX. slightly $XXX,XXX, was quarter $X in spending about less million
were here, We estimate cash of expect times million noncash portion spending to noncash our pertains these use lease sell the cash the turn waterfall customers well for for and as in cash level PP&E under than PP&E will of transactions customer EACs machinery CapEx for $X.X this to shown less into $X development XX, own previously transfers flows. impact to XXXX Slide R&D we we is to we The approximately or $XXX,XXX. of continue If year operating in from be inventory mentioned as inventory, this that leased modest leases, in current our our to net is from The principally, or that arrangement. million. transfers CapEx from CapEx already. of our machines a XXXX, to I
we provided also of cash that by resulted will and $X.X had quarter around in grew I working that second we million. management. revenue in usage activities equipment quarter transactions as sales to want to the initiatives capital $XXX,XXX The these we improve During management. property net date generated specific that to previously $XX working of provided discreetly, in our million operating about the you our have in the fourth year, happy working with we to by our only that XXXX us made some We're capital million. They quarter efforts of completed $X.X when on you. had if about a cash, see reported add capital you look at
loss, net million above year and $X.X about Our $XX net XXXX cash we'd and be million. expected in items at we used of $XX.X of million we other cash, noncash of the as ended
you'll in our revolving Form affiliate more you'll to it flexibility enhance We want week, an information. our mention, XX-K XX. see flexible have capital to did turn you structure. If balance to some that our cost-effective. Executive Chairman by and further to Slide million we virtually XX, to I turn I on our Footnote -- This just Rockwell. actions did for Slide we we place $XX take some Please no make this is XX very of debt Kent would source put credit to refer a provided makes capital, facility three-year of sheet. a
due early to our shelf in May. was Additionally, current expire registration
shelf. assure it the strategy. I'll the with and the of cost-effective concludes and So cash capital today, plans before actions approach. adequate was my filed for expiration and and the after new expected investors us that a will vendors similar existing in working These XX-K we create that on We appropriate our filing our prepared comments, back to our current moments most be our turn to S-X effective with That it have terms, with execute customers, capital Jim. to flexibility growth along structure. And we are capital, believe
