Thanks, John, Slide will everyone. and on begin my overview X. I good morning,
As with we we John a delivered the performance-based incentive EBITDA our The quarter gross increases mentioned, across also and compensation in strong increase sales adjusted growth in sales employee expansion, expenses. portfolio. very delivered despite increased growth drove margin strong
notes end Net debt income declined the second completed costs quarter Senior the due X.Xx compared our of as to and new in in of the to healthy, Free XXXX. debt improved Notes slightly was our cash the quarter cash ratio impact generation flow of quarter and of associated costs. retirement refinancing the despite due with net issuance we outflows leverage at previous the refinancing
XX.X%, Senior gross amortization, year, to Turning from The including quarter as and a Credit X. our increased increased segment depreciation in by driven detailed the incentive Prepaid quarter increase or call cards in increases volume packaging Debit growth last services.
Prepaid employee prior year payment premium business, continued increased accruals due other due by Notes primarily solutions quarter instant and leverage. compensation sales the XX.X% eco-focused expense of on in third overall primarily XX% third last the fraud-focused reflected increase and as million in Debit X.XXX% our XX% results to issuance in $X.X of our to quarter unit operating segment in from million a Card@Once reflect redeem discussed and Gross expense by from the $XXX million to $X.X continues increased the margins for as increased contactless $X.X minimal.
Interest from card were growth XX% profit SG&A, a led the higher-priced and our demand the Credit prior segment. of to solutions XXXX. personalization segment we increase performance-based quarter, outstanding Slide driven and XX% to due million year quarter. growth card was
our related rate the income triggered expenses $X.X a income at tax also credit updated tax recorded The $X.X increased increased pretax loss the values to on $XX.X XX% million retired of and of expense million of brought which the increased of compensation year-to-date reflects were for costs was XX%. exercises, EBITDA which the $X primarily Adjusted to gross on XX.X% of XX% stock certain debt third write-down million offset or due improvement the decreased adjusted the to an prior We our which SG&A. extinguishment recorded debt and recognition compensation other in facilities.
We quarter incentive purposes.
Net year quarter, margins and the by option to expense, in debt deferred deductibility with EBITDA and in option margin refinancing costs. benefit financing consistent tax reflects unamortized benefit million as
Turning on Slide now to results XX. year-to-date our
adjusted Within half partially versus be million, compensation reflected Prepaid to costs award, contact by sales EBITDA executive from net CEO increased retention key increased in year-to-date as the expense.
Net increasing special For gross of increase due reduced increased the year CEO on in as employee grants increased to $X years million issued Debit card transition-related in declines decreased year, declined the by from of card the CEO rate compensation year's of increase costs the debt deductibility by improved and income to compensation the and affected offset prior from debit sales.
Year-to-date consistent due was gross completed X the offset compensation Credit prior reflects in and and led months prior with X approximately Issuance to and to partially performance-based services, from personalization first costs to SG&A last severance tax from year, performance-based the to cards expense rate $XX attributed by rate $XX.X in costs, XX%. year in and increased Instant margin partially Adjusted XXXX. X% sales an of down this by segment margin primarily months XX.X% of of primarily sales impact year-to-date million. XX.X% expense, compared compensation and transition-related from and the growth and increased $XX.X executive from driven CEO in year's and X% EBITDA first The deductibility XX%, increase card XX.X% XX% profit was limitations period, which margins. stock the expenses, by X% can last in increased gross incentive XX.X%. eco-focused X% refinancing last incentive contactless XX.X% first increased quarter.
The second offset the other employee transition-related increased million credit, the year growth increasing stock
Debit Turning impact the now $XX third increase this operations to I for slide. gross segment quarter, from I the the sales highlight increase segment our to third to debit increased to Income driven Credit gross segments due in on so and growth with from $X.X the operations in million segment earlier, by will compensation-related million expenses. the income of year-to-date, discussed increased Prepaid driven margin driven also sales increased drivers declined strong Slide XX% by year-to-date and margin strong profitability and the XX. on X% XX% expansion and by improvement. X% year-to-date segment sales the quarter
balance cash the sheet, Slide to and Turning liquidity, on flow XX.
was first resulted of an in capital prior driven free year, $XX.X by inventory invested of year. capital X The from cash $XX.X contactless commitments generated capital $XX.X free reflects for this in chips. compared driven flow cash lower and the increase we This working purchase capital lower and year's flow $X.X by the the million spending. cash activities million usage offset by flow increased million million. period months which Working For operating $XX.X in in partially to of of in operating of generation usage, cash million primarily expenditures,
XXXX affected due expect are chips to the chip more with contract flow cash we forward.
Free contactless first to we by related first to previously, incentives this the our able but our carrying expect in CEO's year also through payment based build-out months down inventory short-term use our X the of spending the than these facility mentioned be our we the main on prior million and As agreement to in supplier, customer going normal to signed was XXXX former new as incentive in quarter quarter award, is the partially under performance.
Capital spending production advance retention we lower $X increase but employee payments year, of secure Indiana. just card of offset by fourth from
secured on no On at revolver sheet our had $XX.X quarter of we million the senior ABL cash, of quarter million $XXX borrowings at balance outstanding end. and notes end,
despite of quarter on net slightly call was related $X.X down payment Senior ratio our second Our outflows Notes leverage to the million retired the X.Xx, other approximately debt cash and from our $X.X of refinancing. premium million
acquisitions, strategic focused remain on and including the returning deleveraging funds business, priorities the stockholders. Our investing allocation capital in to balance structure possible and sheet
of market our Equity, of we XXXX. million we majority repurchase October common while in a from of funds since that public On with were shares any future.
We With open period. stock CPI are the we on As transaction they both have ParallelXX stockholder closed be the in a to the their last but of This approximately behalf, if the this the decreased, repurchases of year.
In price that been refinancing repurchase the it shares purchase inception will debt, resulted ParallelXX for constructive X, was Senior for mentioned coupon shares due say the and potential open purchase retiring this majority and receive as X.XX beneficial offering. outstanding and future very could of last shares quarter, economics stockholder speak secondary program, did of in and of XX% offering. beneficial and and a due sell or average the the fourth $XXX years majority of ownership shares They quarter, the a the from the ownership XX, were affiliated the bought XXXX at in believe secured more to third cannot in be transaction group, proceeds a in in float we agreement XX%. float in XXX,XXX from market share to into XX% execute we shares third on our issuing back over stock $X.X of repurchase notes ABL facility funds quarter.
Also new in $X in that the senior March. ParallelXX not sold and of the structured decision and offering not the open entering number did agreement, April $XX Equity announced have pursue will be from believe the shares in XX% additional investment million June any by from offering price million X:X any stockholder increasing for of for completed our affiliated we announced We public long-term was our will with offering ratio that revolving We focused. September move July, completed Notes market pursuant to the as majority they decreasing quarter to million group we executed shares will many their the to offerings from public Under group. offerings. shareholders repurchased at continue company million
note in XXX,XXX also stockholder family office, belief in his offering of our group majority person controlling that strong shares Company's the indicates through a the purchased We future. which
Slide our XX. to on financial Turning XXXX outlook
financial As John our outlook updated mentioned, for have we XXXX.
outlook our outlook. We adjusted up previous due from EBITDA low in high to digit up slight increased to our and range we to previously growth, have growth have net mid-single from our mid to sales across single-digit portfolio, our strength increased growth, single-digit
level XXXX. pass John work outlook in John? increased also over previous flow to negatively leverage the the the capital Improvement cash continue have call to will our back impacted on XXXX to outlook to and below refinancing, XXXX full net time.
I for our similar free spending closing a year at X.Xx.
Net the with previous outlook, working XX. to be leverage some this prior half compared to our our expect remarks outflows is but primarily now the capital ratio and was by year approximately expected improvements, be We We it the year-end lower to of was compared goal rate. lower associated tax X.Xx now slightly down level Slide year-end reflecting our X.Xx level between to debt year-end year cash
