Thanks morning John. Good everyone.
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expenses total the sale-leaseback year to to headquarters million the XXXX our operating For was material quarter associated with were and compared $X.X XXXX. slightly period, the Research This development facility. $X.X European related due material technology. expenses jetting in to QX first excluding million of our to binder quarter, first higher million and of $X.X costs prior increase of and development the the decreased compared systems slightly gain operating to
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development in further global opex we primarily fourth expect research targeted production an at our in customer This spending and increase increase material quarter our XX% operations investment commercial areas: year XX%. and application two developments; managing is first, indicated approximately our targeted in this in and to second, acceleration primary spending we focused in by on to call, our expanding printing geographies our adoption principally reach through model. specific development As
technologies plans year, degree are of high success evidenced interest past and for XXXX not near binder investments up us and rise set we in but support the term to just prudent beyond. believe to for the a awareness in significant jetting these Given over XXXX our
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backlog firmly Turning a customers. revenue to orders our as recurring well also as from lease contracts and backlog, our of machine reminder, includes includes non-cancellable operating committed our received the as It agreements. machine our portion maintenance
services, $XX.X of metal other XX% global first quarter year. as research $XX.X development. the to our a for of orders and and the includes backlog last increase contractual record bureaus funded service We of quarter compared million, million the backlog Additionally, sand of at ended first an including with end and
quarter total during XXXX. Our backlog representing million, includes which units, to machine $XX.X expect first nearly all orders totaling we recognize XX of
the $XX.X XXXX. payments. from items and of net Offsetting net sheet, million increased and this increase offset common million were in customers by on an December changes stock from as offering XXXX cash inflows inflows the of timing driven restricted increase driven as million, of XXXX. mostly from mostly to of activities Moving of by $XX.X equivalents net cash, cash contractual backlog the by cash balance sequential completed loss to financing outflows public in non-cash cash cash March XX, result a outflows widening February XX, support from period capital of inventories cash million working of from underwritten to based The due was to at for operations an $XXX.X $X.X expanded
to the expenditures existing capital cash and asset approximately quarter were were $X which focused and our operations on million, deployment. first limited for acquisition Our strategic
progress particularly in now range executing industry-leading the in we million. faced backdrop technology. and on of U.S. we in key strategies, first prepared to be portfolio, improving conditions remarks, at the happy our our concludes we of challenging to excited are we and XXXX and expenditures be capital XXXX the are remaining XXXX market, our our our throughout product summary, record rapidly despite the your clear prospects quarter, our demand would for take $X.X environment our during growth seeing the given In for expanded That expect market we a customer $X.X operating and with ahead, to million Looking all questions.
