so you. to and be so to of good afternoon great all those the you, Natalie, on Thank call. to It's talking many
office is with also mentioned, of Natalie great As be all see our great the team advisors back to and in our it in person. members to
month. our is of just week, one of our meeting our or of years I the last and communities. Advisor attended great reopening the Premier for the XX advisor after Just atmosphere, And business COVID for our two reopening engagement held this
will our our update talk with XXXX. conclude an will I outlook and usual, start earnings. I then for As our of about assets, revenue, expenses platform with on discussion then a
assets some year-over-year. $X.X net continuing of which million, well outflows flow XXXX. as is beginning Annualized more This of seasonality up X, Momentum fees. target quarter are quarter Turning can reflects strong quarterly April, loss first our as we a billion, our $X.X which below that our slightly net were impact market flows X.X% as in to was percentage period was say are I or were up to platform volatility. tax due normal of the Offsetting monthly net normal net as about growth is second than the market XX% XX% near for first Slide flows and flows billion of quarter seasonal reflects of assets the the $XXX of $XX.X expecting in year-over-year. treatment billion, end we XX%
taxes As reminder, today. May, was year's last a was flows month our which second lowest in due
our new producing turn to the first Let's our to added In now we advisors attention quarter, metrics. XX. NPA. Slide turn advisory XXX Please or
growth further engaged the and always management drive for our of point define with growing for is as as financials. business platform those advisors number our $X our crucial platform. out, engaged it in assets We As million is focus key on a over we to in
total advisors, due end XX first reflects below This engaged new X,XXX. offset $X market by the quarter XXX Our but the advisors of net million advisors was engaged dropping depreciation. at to
of would advisors our engaged asset. make Our platform up XX%
XX which million. this discuss Now quarter's let's Slide to to revenue, record a $XXX turn was
As subscription-based was is up XX% on our first revenue quarter variable net the for to revenue net Voyant and XXXX, up is you the of asset-based million million. was our we which was addition net year-over-year. quarter related $X.X million. $XXX revenue In of This by first million of the know, revenue driven Spread-based revenue, focus from which XX% expenses. $X.X $XXX
our Fed up pick March will raising end of We outlook. X% during expect XX our details our to signaling increases spread-based rate expect rate begin this this XXXX rates to provide on when nearly the net year. we revenue year-over-year of Slide and points year their details net XX discuss walk. the I by impact revenue meeting I financials additional how these will with percentage to
asset asset-based driven or is As shows, net we in incentives. $XX million a growth, additional generated up $X.X revenue our net revenue. reduction Also the increased in year-over-year net waterfall was to money our revenue adding million impact
compression revenue last in with of is primarily consulting in point million additional revenues expectation. driven restructured line providers, well. our As Year-over-year in realize as savings will approximately fee with a first basis increased $X.X Voyant's X line was the is in second this Subscription other agreements Voyant year. both in added ongoing revenue quarter revenue by reminder, as
to in $XXX,XXX revenue to year-over-year points basis of the our spread-based about average points. basis XX XX Lastly, decline due decreased yield
added year-over-year through run XX% which discuss we Quarterly three and items. Slide let's quarter. in expense a $X.X back million a for as Now compensating to We Total increased increase year-over-year shown up the comprised pretax, quickly were an on SG&A. million of to our million, total million XX. adjustments percentage XX% $X.X And of is of $XX.X expenses driven operating million. $XXX by increase adjusted expenses in $X.X
First, this our first than the the compensation, $X.X charges million of and IPO. lower XXXX from million represents the resulted of first is noncash share-based $XX that without quarter equity quarter
Second $X.X million amortization adjustment related to expenses from acquisitions. prior is expense to
up to expect be number quarterly run this in We rate XXXX.
related $X.X the million integration reorganization costs and related there's primarily Lastly, onetime and to pandemic. costs to
discuss XX Now our earnings. let's turn Slide to to
First year-over-year and $XX.X up EBITDA million, XX% our our quarter highest 'XX adjusted company's was history. adjusted EBITDA quarterly second in
points margin We are sizable EBITDA quarter was event event, the our year-over-year. in-person EBITDA it adjusted pleased for XX%, Gold much annual was this expense was and less our held Forum includes as extremely up basis whilst rapid related expecting with to last quarter Adjusted this a virtually. XXX year
million was XXXX, $XX.X million first share. million. on full quarter This XX.X the for or per diluted based income is income for $XX.X $X.XX adjusted share net was reported while the for net to $XX.X the million of compared of year count quarter Our first quarter
Our rate year tax adjusted at Further XX.X%. walk for see effective adjusted income XX. color, net the Slide is on please unchanged full
balance to I of of dry facility, in $XXX powder available remains sheet the our want some had just Cash this had highlighting million heavily which strong. plenty are the generation, cash both to key generation positives. opportunities. of under future via time also cash spend M&A $XXX credit cash ended we and Slide Turning We our XX, million providing for and quarter, first quarter balance us of credit
each cash we great to cash feel of we we addition generate cash for the year, strong to continue ability and more mix M&A and to balance year. between million And expect USDXXX this USDXX generate and dividends. million a have generate investments our to cash, We for in
expectation. Slide Let's XXXX an turn XX on provide to our to update
announce targets given of for have this with we EBITDA I what pleased flexibility our have are track am build strong We as Prior model, a and as our business that outlook us management. to advance expansion in volatility, you well year. we and reaffirming confidence. earnings our market gives share the expense record We to margin that
outlook. with let's First, start our revenue
for of revenues a any tool about As our assets we already events, on the XX, March billing have platform result on collected now half on XX, XXXX, based December year XXXX.
XX $XX a pandemic market $XX to in Our we in signals result issues. year-end. X% rates forecasted impacted macroeconomic million Prior another to increase been XXXX with million impacted about as basis by $X offsetting the and and due raise issues this is look revenue about to a point of March increase has was related fed timing and spread amount the about to asset and with a global by to probability million in Voyant
last $X million not additional in our an expect outlook any rate did forecast Reminder, in revenue our spread increase XXXX. We in outlook.
to revising to to our XX% XX%. volatility As of a down result we were range expectations from a market XX% the Voyant of environment, revenue and XX%, revenue the growth
is our did outpace and disciplined, again our down our contract. still space, not once expense expense remain less volatility growth. the Voyant coming so to Turning to market due it revenue timing in the And outlook, and we revenue slightly our of is model
reductions also our We centric to essential related expense XXXX. and These -- we growth our incredibly grow. XX%. products. hires and surgical take ability XX% high from nongrowth to are remain range forecast so, from of XXXX costs, will non travel excited drive to million of and a We $X and non XX%, By outlook to expense about new continue delayed about event doing in AssetMark's nongrowth growth XX% look revising to to
soon. everyone, answers. We This margin XXX the remarks, over expansion hand forward adjusted to remarks. the With and concluding and of points. our back I'll prepared Thanks, call sometime and outlook for the our look on you Natalie questions year EBITDA reaffirming that, will I EBITDA of seeing are today. to operator the turn begin concludes in basis We and growth Gary, thank to for person call to XX%-plus you,
