you, Steve. Thank
the talk sheet the Before numbers, I of highlights. into get I balance wanted to going about some
last was, highlight XX we this think, when we on did only all, announced of call, QX. which our days ago I First
went were million. this and in from cash equivalents equivalents $X.X $XXX,XXX to from remember XXXX cash if $X.XXX XXXX, year, of And QX terms XXXX, of you from the cash to In cash million.
$XX.X assets we million total from the under $XX.X total have year, which our to a Our million of end total $XX million, increase assets, $XX $XXX total $XX this to XX, increased for stockholders' reporting XXXX quarter. the equity million, of Meanwhile, just of in This at million therefore, so against liabilities million. $XX.X million in million a was the million reported equity of March increase shareholder liabilities an assets. grown period, is $XX.X of almost from increase as for in $XX essentially liabilities
revenues – So it's see to again. and the revenues nice growing our
$X.X selling offset predominantly year from compared revenues in by the $XX.X ended the by current in to was March of of as $XX.X quarter QX XX, increased in commercial March coffee included increases That's mix year as March March for revenue the for to the ago. current the the million The $X.XXX an commercial Commercial revenue. $XX.XXX three distributors to ago coffee fall compared increase profit the to million came for under This our in $XXX,XXX considerably. the segment to the revenues XXX, new year segment. acquisitions for primarily revenues X% from business predominantly the million ago direct just the compensation. gross quarter from revenue under million quarter. noncash quarter for segment our just to for ended increase has our XX, a just distribution selling existing derived segment profit $XX.XXX March direct XXX% program. revenues to primarily from quarter the direct increased The expenses selling XX% Gross increased $XX.XXX million segment first $XX.X to changed million X.X% in XXXX. XX of under XXXX. quarter highest ended $XX.XXX in The We for to U.S. to as the the million Operating from first to $XX.X Distributor the $XX XXXX due $XX paid coming approximately XX, compared compared selling million. approximately revenues for due from X.X% as attributed XXXX. our our million of $XX.X decreased compared the a profit XX.X% ago. months and compared to quarter increased quarter coffee compensation a in revenues equity-based X.X% ended quarterly million by million revenues independent quarter million in corresponding segment, our in This to XX% history quarter compared Our $XX.X to the increased million year Gross in decreased XX, XX.X% green to decrease million of decreased direct for in million company's as to to the decrease a segment coffee to $X.X
XX, included compensation. under ended months and just of $XXX,XXX three-month from March ago. marketing the increase increase to million an noncash three for increased expenses XX% million $X.XXX under in a year $X.X This just total sales the XXXX, period For equity-based
in the increase expense and in would increase compensation, sales marketing X.X%. been have the Excluding only equity-based
year $XX.XXX expense. a the ended over equity-based million increase an For the three G&A This million total noncash XX, period $XX.X included from compensation expense months for increased XXXX, $X,XXX ago. to in just increase March of XXX.X% million
Excluding This year G&A direct million to just period expenses in an XXX% in million in increase million compensation general increase the XX.X%. by equity-based administrative current included direct the expense expense. and the been selling the $XX the quarter under $X.XXX of noncash In segment, ago. increase $XX.XXX compensation same increased expense, a would equity-based in from have for increase
increase included have been In or expense. for an pre-revenue for $X.XXX This at million the year. accounting XX net compares segment, by the increase as came state. loss a $XXX,XXX million three-month The $XX.XXX this in Excluding compensation $X.XXX business expense hemp G&A commercial increased number compared increase in noncash of compensation period $X.XXX net million that to loss its $XX.XXX March G&A same cost ratchet the business equity-based $XXX,XXX loss the This by period would the XXX.X% And was up increased last to quarter noncash fees. equity-based in quarter million. the to G&A begins coffee equity-based ended to noncash to in for million the ago. the kind expense, in net would for commercial the due have and million legal X.X%. increase year charge. primary was of a reason The predominantly compensation $X.X in
net before depreciation interest, $XX.X which EBITDA, of million and Therefore, earnings income amortization $XX.X happy I and the noncash and was in adjusted EBITDA, adjusted adjusted was our say, in period this business. negative to coming change million is component to we for I'm million which EBITDA $X.XXX EBITDA million a tax, noncash this And that compares value EBITDA. the So to hemp XX.X% $X.XXX of compensation total is of equity-based Against warrant $XXX,XXX remove our important reiterate to of $X.XXX as the loss the expense terms a the ago. year and on the from extinguishment contribution number point a that quarter derivatives QX, same called loss commercial mouthful, million XX, the but to number for certainly is debt, increased March and XXXX, ended had loss. out it's fair
the probably than Q-to-Q, at as I'd contribution and discussion we stronger the face looks talk EBITDA continue for like apples-to-apples, go is it we're on a So about the there. even presales progress value. second to making
in get line, operating but Khrysos announced business. ratcheting improvement to Khrysos operating significant and $XXX,XXX a encouraging the and profits was all doing segment in with up hemp parallel which on business gross a to those a of segment. gross that the from that segment. those out and companies struggle the stated, be coffee tie the distribution the build happy which a – manufacturing the last tipping more goods, got business, division. as necessary happen. essentially to or understand struggle am in our to we strong of The expenses not encouraged profits, there's all the mass, what We you business hence we begin commercial years really the operations comes parallel a our the to side, cost, which the we're companies, really us the Khrysos a see all hit position, your in to and into – now once is coffee cost X.X But strong – significant achieved baked we're appears we our that quarter, your just the our drop of what – think on it covered, quarter, led particularly in margins and in coffee I I you which our hemp, in on a margins. X to we've install as scale that gross our both in hemp green profit of distribution although assets, your there. bottom it you margins the several coffee point is to Khrysos operating where in I very on lost and certainly into a margins XX% a I in that hit you've It's took to commercial in segment, go operating see for profitability of And thing in segment coffee an you clearly a business, improvement see the this side sudden, same coffee strong roasted up profitability critical as years are because commercial to on that appears out with expenses the scenario we've improvement business those
we in we capacity we us our believe do about for that In product So is frankly, coffee high division right refinery Florida anticipated our months in years due Khrysos last in May product. the now to to hit to then significantly well accomplish that running talked that to demand in can up by call, what the tipping excess took and July. X.X we our margins operation in six and and point, deliver expanding having of
right the permitting in million are we the the of in We us behind of to we permits due we predominantly are behind We weeks the purchased. executed – of buildings now, and $XX up I'm that now June. our the this that those month run electrical two property bringing and happy on to to power buildings necessary are over will forth schedule some in of from revenues piece that those up a that issues initial that terms running placing to begin issues say now and ago anticipate permitting bringing contract our so phase about operation. and face just
month a for $XX a as couple and expect July. million a we essentially we weeks of now, about can our then for $X monthly deliver that of into So June revenues July, grow anticipate from we by where delivering of to be revenue capacity pace tenfold, million deliver in Within August. beginning to division to revenue about we expect
have doing we relationships along expect tolling balance demand a that for There's delivering be a is So to tenfold, supply. water-soluble a June relationships this at with we and and for At around selling $XX that demand produce terms our revenue distillate options. enter million-dollar of What as within anticipate agreements. to at products July tolling capabilities is pace. grow in that of to we own significant making our point, potential exceeding August, pace, and we current million
end is really our of in to of Please revenue calculated us at every Our space. like the to form lowest do ingredients allows make. the understand, the we production ingredient say, hemp processing forecast, can I'd
oils, more not distillate the refined you or where icelifts, water-soluble only we really premium obviously distillate do then options get higher-profit we oils do the and both can grow. water-soluble and water-soluble margins into isolates, items can in like and So
potential projections revenue have contract revenue place. that's So for a month we $X million essentially at I and our about servicing a in June when talk July, or our
what – already distillation XX a which to steamless grow talk that a assuming the million, single-pass using deliver in online coming drives this we're that by have for capacity. call As evaporator. lowest-price about they And three film we'll upside be to margins of the evaporator to up produce, water-soluble August, we can technology looking one will Up We're the when and into or end rotary end efficient, and essentially in very placed revenue and have and then. work and of running energy also, even could rotary distillate running, one revenues. is end at calculating and have ingredient EBITDA we'll drive system, which grow I'm August evaporators. larger the and the options, system by of $XX currently of expect continuous replace August, a we by to have a distillate, this potential the at a essentially beginning we purchased a that and our we these the is system now August, capabilities running. potential extremely by revenue further. By and from look up which July, will And systems flow system first film And installed falling falling speak, as we to profitability low and multi-pass evaporators. we've marketing cost, those on we our of glass labor XX goes really And single-pass having which up to – we times running the when we orders we're
remains weeks' the a our bullish to like back turn remains I'd QX. half our year obviously, really businesses and and Steve forecast to only We've With Wallach. couple outlook. commercial call lost for that, back bullish time, in a to QX of of over So the hemp it the
