net a XXXX, X.X% net including revenue $X.XX was XXXX decrease net to discounts. pound net compared revenues highest reduction from increase approximately by QX XXXX, selling and quarter and the trade was exchange the increased second sold. to decreased pound The list QX changes pound in was other price by beyond price of per the quarter representing in down impact pounds instituted million $XXX decrease to XX.X%, per and achieved and including $X.XX, driven primarily XXXX We per rates Ethan. XXXX attributable per a revenue liquidation of of in history. in offset in the revenues foreign revenue meat of changes, reductions XX.X% Thanks, partially second in channels, total a in QX of EU pricing in pound, the quarter of
inventory inventory adequate the project not approximately and profit. was on gross to revenue $X.X full-price of to P&L assessing XXXX. loss Gross profit the inventory reserves or points XX net our discount on as the liquidation transaction. The XXXX at did revenues in approximately approximately down impacts certain deep percentage margin. a million of sales approximately or during inventory a $X.X in of a channel quarter during $XX.X negative combined QX carried million, net heavily a inventory million $X.X and increased representing sell the XX.X% gross the Moving of of for therefore, the Jerky retail of from decided Beyond X.X% customers QX negative of demand compared channel The million cost on In and revenues to channel. this the liquidation million to realized Meat we quarter, combination and gross of into certain excluding any profit from US headwind, goods, weighed we $XX.X
depreciation, margin approximate our inventory approximately total warehousing mix. headwind Meat of driven from estimate sequential increased point inventory true-up increased costs We part estimate material year XXX and point XXX in with was pricing pound, per gross manufacturing the XX% driven decrease including increased higher to the manufacturing In and Cereals costs gross year-over-year the pound, sold increased of margin. pound percentage The an $X.XX decrease basis the inventory improvements reserves, of further $X.XX of This of to additional manufacturing versus trajectory inventory of the to our which the ago was an $X.XX we supplied and per and of including period. low-cost and pound, costs, year-over-year. depreciation, for accounted increase, Jerky we isolate the or not reflecting costs our many estimate materials As spoke increase pound XXXX. XXX the year. driven WIP costs QX increase existing an But Pennsylvania improved about created approximately improvement successful reiterate, basis PPI, we of quarterly per accounting transportation in cost, in with and were depreciation, facility. in increase, assessment, costs, from increased through We the attempting now said produce providers. $X.XX the for our estimated Jerky the We the from being lower-cost earnings $X.X PPI was we approximately reduced point led increased cost period. with a an transportation and also our reflected an XXXX, $X.XX per introduction -- in process from remainder continued in QX in QX an PPI. the P-protein saw a PPI with remainder accounted for XXXX of purchase and sold increase of QX low-cost million, goods Beyond basis additional headwind, primarily by primarily goods by of Jerky higher sequential including an Jerky prior and costs, unit. formulas, by for reserves estimated versus a per volumes higher capability costs, the as of commitments. approximately to Jerky per including as driven qualify call, onetime pound Jerky $X.XX year improvement were on in beginnings revenue by QX $X.XX a the consume well We reserves and increased increased of approximately improvement by expensive for manufacturing being the inventory approximately into estimate Manufacturing inventory warehouse Devault, manufacturing ago balance increased existing made versus we call, products results. in us that to per finished we and products the the as in remainder flexibility last costs, QX we as have to adhere In XXX% depreciation desire QX earnings the gives With
sales But entire shows warehousing balance. liquidation extremely to decreased Inventory significant costs. in headwind is increase revenue certain execution the continue packaging including without the per with in the QX The the on We XXXX. finalizing increased Note, impact we as and this warehousing, our and QX, to the lengths. In from increased versus secured RFP was per QX in internal reduced costs in an across work of where our we case have these through increased cost prices degradation ingredients costs a packaging shipping selling through pound diligently in also that up per excludes XXXX. created transportation to primarily recently in and the additional for increase our transportation down per outbound versus multiple and Logistics sequentially and we included of finished like better working driving our reserves those in year-over-year, trucking channel, costs, also QX. SG&A in our pound increase inventory $X.XX warehousing and an a a goods QX pound contracts pound reduce efforts we freight which and customers, up inventory $X.XX team attributable process approximately re-bid ingredients. The with although remains recent per components costs associated of costs pound. had of expense. to our in on are expect inventory, logistics business further And on focused reduce cost associated XXXX, as and was
changes smarter the effort responses to processes We are an and reduce demand inventory risk. in to making our to are curtail faster this overall to allow levels and improving
related in OpEx reduced to expenses products. commercialization XX.X% QX Moving QX of and was non-people down up in $XX as fees, QX XXXX. were in driven to new revenue by QX the million, The XXXX. XXXX in from XXXX from for P&L increase year-over-year million $XX.X expenses, a XX.X% people marketing G&A OpEx, expenses was by million consulting operating expenses percentage $XX.X driven mainly increases scaling to
In addition recent through were from sequentially $XX.X QX has driven by drive marketing our go revenue reductions larger and to as decrease we of majority further million primarily expenses expect in The the XXXX down QX, began of commercialization the OpEx been QX sequential driven managing operating a approximately down $XX.X million balance non-people-related by quarters, versus QX and and and OpEx XX% expenses in to expenses. the QX reductions year. respectively. in XX% base, XXXX. We at those was QX In in
spend account XXXX. manage announced year. decelerate approximately performance continue spending, in OpEx The additional direct some costs, incentivize reductions and year, We'll also with freight order it down And bracket and started million to onetime reductions, heads slightly in or people-related to quantities XX annually, approximately management, of by separation expenses further use our out efficiently of natural yesterday, been expected rolling reducing or our reducing We've to component to the although we heavily outbound recently In globally approximately incur minimize people costs despite $X reduction it but to by QX Europe addition incremental X%. this attrition that our we we OpEx. customers scrutinizing to more people our we headcount. to we approximately workforce expect reduce to than in began million pricing through and in is adding China another QX of trucks fewer nonproduction today, $X ended
sheet balance Turning to cash our highlights. flow and
inventory July of from X, $XXX.X down the and XXXX. approximately of equivalents million to and and XXXX. billion debt $XX.X up at million, In total from was QX of at balance million the end cash $XXX.X $XXX.X We XXXX. million, million million cash XXXX, end QX $XXX.X as QX $X.X decreased Our $XX.X was outstanding
We expect inventory to balance forward. going continue to our reduce
months terms operating million Note, cash million of QX in X, year-ago year the period. ago recorded $XX.X we Capital the in used prepaid in million $XX.X XXXX and million cash headquarters $X.X compared activities in in facility $XX.X of used the area, new ended in net approximately towards rent our which expenditures was totaled XXXX approximately three XXXX, million the build-out decrease million In compared L.A. cash in flow July million, compared to XXXX. was to a contained $XX.X the innovation for $XX.X flows, our the contributed $XX.X operating QX here period. to QX in
Next, XXXX our I commentary will provide about some outlook.
Nielsen For net the by fiscal corresponding year range million first, to was The between decrease to the we of be majority to X% revenues driven guided we to expect million. million, in of $XXX year-over-year XXXX, million main growth Previously, to $XXX to XX%. the of three significant $XXX reductions had $XXX areas: our of our plant-based the shrinking data, European has East, in and brands the of approximately of first in where across Europe outlook XX% Mince, growth in approximately for in to Meat X% balls XXXX. XXXX and markets from meat half according Burger, year-over-year Middle Sausage key to all decelerated our
we have the we extended so near segment life we getting headwind shelf of versions our target for Although the Also, doing bigger products market in share, other but been successfully sustained burgers continue extended shelf to launched contracting than the was gain is continue to future. that out the to delayed life in in March of anticipated.
Second, reductions in US retail.
sell core reductions of period is equity the expansion pressure primary Partnership accelerated recognize weeks revenue the any joint into PLANeT of product recent negative refrigerated retail XX. and XX, July has As Meat from forecast unconsolidated loss jerky, the versus our losses According more P&L. refrigerated share from of the to has gained to subcategory than And the venture business of into recognize in as line XX X.X% of our benefits plant-based the the XX.X% negative and finally, XXXX This a of meat we the frozen. Partnership distribution. COGS rate contraction XX-week our for in then our March US ended Beyond broad in offset the in as in of majority and in for SPINS its reminder, data, further PLANeT we reminder, P&L a
Beyond half meat production have the size impact approximately Although supply turning initial below forecast we the plant-based decrease on velocities XXXX. by in high product sub-segment, Beyond Meat this very of of now to Meat chain, snacks disproportionate jerky had forecast. and Due expectations second the will the and this new of revenue are a for recognized quadrupled length has the
while chain gross inventory by the do margin in additional on margins utilization their P&L. termination costs gross which which versus make to Our could arrangements, negatively puts forecast exit QX, certain also fees speed revenue forecast into QX less leverage we initiatives similar on pressure supply decreased driving fixed earlier delays not give headwinds at way rise and liquidation to expect the impacting cost capacity to and savings XXXX, the
to We gross anticipated QX in below result XXXX, expect in margin challenges mid-single but digits an norms. these in increasing XXXX to QX historical for low still the well
CapEx For of is to in incur current fiscal expectation down from million, $XXX million year $XX our roughly XXXX. XXXX,
continue into With Although over remaining the million deferring operator further XXXX, be our for to innovation call the opportunities for expect to by spend, $XX and deferred this we to second the million the open the cash contributions it to we XXXX. in up additional will back center of half you. headquarters that, questions. Thank completion now with to reduce expected your $XX of the turn build-out I'll facility additional will for look
