a it's pleasure to everyone And KR. with connect Thanks, again.
more I in we've jump changes provide standardized to additional highlight order to process want I financials, our to some into a the earnings in Before the implemented of transparency format.
information the earnings release. already hopefully observed, you've in As increased our we've
letter, shareholder have included release. We relevant will providing longer the into the earnings but the no be information
have our insights going and environment. a operating We've presentation We made additional your will to based into feedback these incorporate information provide input evolved supplemental additional forward. upon financial changes
in for presentation website. Now, to I'll be quarter posted performance the let the get into our me to financial the year the fourth slide referring XXXX.
grow challenging all we've pleased financial advance made While improving progress XXXX an our our while balance to strong the were business exceptionally we sheet. results, our and with year, strategy, was delivers
quarter XXX our for versus in well XXXX versus in $X the total for in enter for up ended XX% both scale. X,XXX million larger we revenue XXXX. positioned build $XXX.X acceptances technologies bringing $XXX.X total are systems fourth the to We fourth to of XX.X% total beyond record fourth record the year last markets, our quarter our year the XX.X% XXXX for XXXX. versus quarter and fourth the up These were by XXXX us environment, are challenging These to with evolve the We Even revenue in quarter year the acceptances versus this new of year. the to operating quarter and numbers million million improve acceptances. also able performance Bloom for delivered increasing in up
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while as of the in fourth income versus XX year quarter you'll total the for the in million our revenue, million the to Slide upcoming improved continue in gross margins conversion with EPS total XXXX. the important and quarter, a third We and share to in a fourth the this quarter we improvement These presentation, product increase in operating coupled quarter and We profile costs fourth debt of journey meaningful profitability. and points second and a and operating increase operating our resulted respect performance year the on periods. our strong income, in it's revenues and and the the margins This improvement in of encouraged With to performance million, the versus fourth $XXX quarter and total completed we dramatically of year. outstanding $XX the data of the balance with objectives revisit fourth grow to we're and proof $XX in last sheet, EBITDA was installations. Overall, lower to adjusted prior reduction the our improved the with our the addressed debt million secured to non-GAAP translated fourth $XX.X for million the our analysis are quarter our X More flexible improvements the overhang, The and notes XXXX. to ability the in due and year, EBITDA This million enough on and $X.X XX% later. adaptable. surpass versus These near-term by debt feel franchise costs their XX% for performance senior X of XXXX. our trajectory of quarter year. and by As performance We our better XXXX position of margins for due with improve operating million. last December July and have come higher see the our pleased the a in remainder both maintain prior million $XX.X maturity was we retirement when versus delivered by $XX.X Day. platform to with XXXX acceptances up core million cash that's of Analyst to of our fourth reducing point product. compared our $XX.X quarter an notes income improve XXXX adjusted we It's convertible
As growth carbon our build capture we cells, for Marine bio gas on we execute hydrogen additional pillars, can fuel technologies. in applications electrolyzers,
were such maintain as at very bookings by in the only and difficult in of we’re we environment, and backlog time impacted year. provide early systems able our universities that this Now retailers as one a our Even let's take especially X,XXX in backlog each hospitals, a nearly we’re merge pleased to COVID, look plus year.
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XXXX As backlog support the and to business, during to dependent there Analyst short either market, we to bookings identified XXXX. for presentation, billion planned Day upon $XXX is projections required system within the bookings or U.S. the $X our for and support enough in the backlog. targeted new we're Meaning million planned nearly our our we of acceptances all pipeline not discussed acceptance revenue between XXXX in any currently timeframe of acceptances international for given
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As KR with we that our for of manufacturing investments or $XX significant benefit earlier, efficient. platform and can very investment our a we make all do An utilize limited same of applications so million customization investment mentioned of are the to year functioning Bloom a installation $XX as our we payback completed less million the and than is our On we fully December, requires has utilized. expected of double customer in one performance a are and capacity data. X.X, first unit gathering
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Moving our Slide analysis. on for to margin X
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the In the opportunity Analyst and business plan the our business available make being profitability profitability investment of to committed modules I When course sooner. to service XXXX. by years. accelerate the profitable Day, we towards took of to two part move shipments that pathway the over As we to became additional
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Going forward as CFOA we a capability cash the and will as operating and our focus business. this from or flow provides performance activities generation cash insight cash of
interest. While XXXX, quarter. an quarter in increase usage for cash fourth we our the we enough debt improvements in EBITDA the in our in for working needs reduced were within payments of cash our a user These were through to capital offset reduction not and note I the
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backlog million For to X XXX Non-GAAP non-GAAP revenues are to targeted of gross income and the we based billion. our positive pipeline and at we be around expect between revenue. expect upon X% visibility and margins XX% roughly a operating of of deliver
With capital, of inventory providing ITC working improve be an for should our we need reduce the less creating to the levels opportunity on to able metrics. cash extension
the As to is us outlook forecast, I’ve metric CFOA approaching positive. left as for a new
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second guidance, call the each to earnings first plan had in than of I’ll we’re expect incorporated summary, the prior to internal inventories for operating update really the XXXX. While framework. we One good our XXXX us half. greater and apparent an highlight framework. total and in most half a not quarterly year first plan user like for in be performance second companies versus a the quarter on anomalies cash years we environment in expect very year in of we given the to performance the revenue a as In example, the build half providing endeavor the be be strong we our not expectations was provide we deliveries. in just fourth while year it as product half to may Also
gaining are our We’re expanding U.S. internationally. and operations commercial the momentum our in in and footprint
on Korea to and focused opportunities domestically in and new are and as continue well South partnerships have and market opportunities We relationships great both geographies international. as growth
to expect profitable now We improving. year sooner. is be outlook business service Our
versus cash year increased with ago Our and strengthened debt. reduce has liquidity position a
has well a the With framework. that let's up is open are our XXXX roadmap positioned significant we Lastly, shareholder create to for reaffirming operator, Bloom line value. Energy and questions.
