Thanks, Cliff.
filings the the numbers. are in reconciliations and The appendix in and done of the past, in are have As we GAAP both our reporting non-GAAP we presentation.
Let's turn to X. Slide
the into our earlier deployable exiting briefing on earnings in the again billion our I a again our $X making XXXX progress of want towards we're Before QX we've to discussion you investor quarter that to laid this we capital launch itself, out previously and that in highlight year. update
proceeds. Public As Cliff Curbside for the of We're mentioned, the we expect us range earmarked transaction midpoint close that Management will have Safety take closed closing we within on that somewhere quarter, businesses. for sale of that in we'd divestiture after-tax and and the third we to a announced you our earlier today near the
overall deployed a we more long-term solutions narrow believe and date, $XXX we'd we're cover we've can our around say, we be growth. my billion and XX% against I'll target component set we this repurchases, key said around core or detail $X minute of as where deliver in To our prepayment our of strategy that Suffice presentation. vis-a-vis to million of share business this debt in of a
As reported of laid year. beginning guide numbers the start these the our transactions, from of to out deviate will that holdco a the at result we
we investor the outline I in to to going outlook progression so and balance our year report QX in again take call approach as of well XXXX, quarter. the we lay out of And we terms that remainder we want how in how last the guide for reassert how we're of last the the to and year as that quarterly earnings about talked medium-term continue our briefing the
retained fragment take approach transfer for during the weren't this compare Firstly, intending is performance There's happening BenefitWallet holdco QX assets QX basis. first we're that X. a to on small with to quarter on that only a of March the
look quarter an year, about line as net performance come to this our QX adjusted for QX completed our to negative presentations. give impact be bottom we'll backing of back appendix the in reconciliations And normal of in past so expectations year. remainder in our we When of will there's last and the with on you reporting how GAAP as our about Later against for think million to adjusted practice with the in the I'll and filings an guiding and consistent $X on divestitures basis quarter. a out the this the and we basis, our top presentation, QX upcoming
In which removing stranded on removal XXXX divestitures our QX to of important we'll basis, be and note stranded continue work progress considering expected our on and underway. that adjusted an earnings, we full year throughout to here updating guidance into be on XXXX. to completed costs is It's will costs
annualization the back fully of in the our be so XXXX. numbers these of end And reflected until won't
Finally, our exit XXXX exit rates you continue rate bridge to an XXXX laid with updated XXXX to we'll outlook between guide the and can we've our provide walk you our out. actuals, so
Let's the get into slides.
our key reviewing X metrics. sales Turning and to Slide
in turn did have expected some have As to pushed at terms business lighter ACV new compared Cliff compare. later. of or coming We QX in $XXX did million earlier, with than QX in earmarked XXXX as the deals $XX mentioned out sales in close that we QX into to million
as Australia, State will yielded QX stronger ACV. in ACV second XXXX which be of result still a large the $XXX of for of of of of As a first for transit we in approximately with be This approximately million to $XX expecting in $XXX ACV, us sequentially half putting the this, and the our quarter reminder, our because behind year. pacing at Victoria we're contract XXXX, million the million booked
worth encouraging attainment in translate expectation with CX a expect $XXX a into seeing that's roller some on more address our through as is this performance XXXX. million. set explaining. around minutes XXXX. at of of going strongly ACV We're play be There's changes, through net opportunities activity a and outsourcing higher that X% we as effects BPaaS to this where and few to in and signs. spaces substantially softer we $XX is to this coaster year and go costs The in losses, full are both measure broad urgency wins, metric, we go quarter about combined but metric other QX pricing through than Despite effect this the offerings, spending was lower ARR we renewed year the Our million contractual positive there emerging
the Based we the by expect metric million full $XXX above XXXX. year on outcome, around the to sales end at stand of
elevated XX in in as of more the of then the out pronounced and this weighted XXXX also with going see quarter the additionally, which the net going in However, asymmetry second being metric ARR fourth transit back you're out there of is million the metric. the of to half as activity far rolls year our $XX trailing recovering then last deal notified of third and strongly second was Australia more negative around losses the back effect yielded deal half towards ARR the What Australia the firstly, quarters, and the roll them transit the year, quarter losses last year. of in months the and of in
out As is with standing the said, to this before This current our important of on. on year metric that we based and we year take the around million, view number expectation at $XXX that's I Conduent exit full anchor is divestitures.
I as shape coaster the we have that this divestitures effect on of material XXXX. roller However, a through don't progress believe impact will
you revenue the notification this just the XX-month fluctuate reminder, a on quarter-to-quarter. does As is timing trailing from as seen of not based such, measure will predict as of and, timing but have
expectations. line lower remains it many on I said and as a quarter with the the of in but metrics a of business new couple pointers lighter on. slide, comment rate covered Slide that the solid, drove outcome. win to deals the earlier, renewals previous here X. performance and just We've to our slipped but more It sales Turning was ARR And was extra was our on
in contract average of lack large Our in deals the reflecting the was recurring quarter length X.X years, quarter. the
to hydraulics we let's to compared basis. financial as I'll XXXX the on slightly was discuss of but yet, minute, closer. then quite Slide million $XXX the continue in cover constant QX a progress and in the overall We're and but million declines through essentially phase not segment turn flattening and and that towards make very view X a moving for transition XXXX Revenue to QX our level a XXXX, revenue flat historic business Now is trajectory growth. the results. getting QX with down there currency $XXX a we're
segments [ our You'll full see Transportation when a that with we had quarter dive on ] large into in bore implementation the transit better Australia.
And so that. contribution associated with strong revenues from there's implementation a
last ramped, $XX from exceeded the But the volumes, Adjusted XXX at was which revenue down was the in called a off. X.X% in compared business impact million that booking quarter transit mainly deal, we the favorable points XXXX. business drag for in the the legal $XX of year was of to there million most margin to New EBITDA EBITDA And rolling XXXX, related basis of first QX $XX lost for million a slight out of quarter time. settlement as year-over-year commercial. adjusted to as QX compared including the
any In itself, the items. we see driven some cover there was quarter other minute, the and you'll there mix a unusual variation factors. by large But segments there when in weren't
results. segment to now over let's turn X go the Slide and So
higher XXXX. end first Commercial million XXXX, beginning There's number at this headwind X.X% top compared story assets QX lost the this line with than quarter million, to off For of that working one the $XXX as about year segment segment revenue because for the of Commercial BenefitWallet to is transfer as offset in of float revenues quarter this due $X year the the business. Other our of down year, the of compared rates were reduced the that, the interest last. effect some to of QX an which a prior
to the coming segment We gap to sales flat performance growth exit expect we due to XXXX. as closer improving the narrow
the points compared mix the reset efficiencies due operating basis start as you'll by we margin X.X% divestiture, the and a XXX level begins our commercial to XXXX. offset BenefitWallet Clearly, the assets. XXXX QX the costs this XX.X% EBITDA roll-off to an remove was Wallet move of as Adjusted to other high-margin the Benefit the see of to business. in will driven in of through growth. And complete be operational And up segment year-over-year, drive $XX noted margin EBITDA for partially efficiency margins time as nature work to this million, with due the and above segment improved to operational over up as stranded offset was the Commercial adjusted QX of
the overall, this lower begin to but still divestiture EBITDA in to proceeds reduce the to from expense see QX, interest as the segment Commercial deploying to highly Unrelated debt. relevant we're you'll
Government segment, new item revenues payments Government The government effect business decreases due XXXX. QX $XXX some EBITDA down QX as partially were year in the was was lower our prior X.X% offset the in million, QX For for ramp and were from volumes segment XXXX year, a XXXX Adjusted $XX down to million, the XX.X% slightly business lost by primarily year-over-year. compared to prior business, of nonrepeating. that
for margin volumes. As of the legal the from $XX payment in That benefit portion slightly last a slide, aside, included the million. noted year settlement driven by compare prior item of variation cost on the this the is recognized of the in services remainder lower
that the time as last improvement our nonrecurrence performance on add-on million XX% impact. The was in in for revenues $XX quarter the our the XXXX balance well in ramp year-over-year. accounted year. implementation of from the better were segment around year-over-year million, The project of this QX $XXX Australia up retiming project some of this revenue occurred Transportation as of transit large implementations both
adjusted $X the $X to lack the the compared Transportation offset in margin of And less same EBITDA X.X%. QX predominant The was driver adjusted million segment, favorable a slightly on For year this quarter from for million an retiming the the with EBITDA XXXX. mix. project last was revenue as was impact
and to discuss XX flow. Slide the Let's turn and sheet balance cash
Our total facility quarter at point. ended of sheet, available credit revolving billion cash and and revolving with balance to our on We liquidity $XXX approximately $X credit in the position total unused remains completely strong million million almost close with $XXX is facility. this cash
is decreased our Notwithstanding and X ratio a slightly we Term range comfortably about against recent XXXX. repayments prepayments debt our to in our target X minute, B, turns leverage net of I'll Our Loan to current significant until X.Xx. inside have which no talk
Capital revenue expenditure fluctuate of it expect may progress in through as be the and quarter slightly. was or of that to although X.X% revenue slightly individual below X% about quarters we we XXXX,
federal As we tax software, refund include final hit of million last this to operating on quarter. to during the We which year XXXX updated a product received related capital our spent flow. the metric reminder, cash $XX
shares quarter, repurchased an the price million X.X we In average $X.XX. at of
will you in quarter. at we announced, to of continue B we against necessary see million Loan further the updates Term subsequent And the the we the provide prepaid to as that, of from filings, with program. initial $XXX a divestiture have April, million and program approval continue will As $XXX current from the aggregate, we as to our to we up prepaid divestiture debt repay proceeds our million. also end In $XX further
our Slide to now XX XXXX. for outlook turn cover Let's and
our I the and of the the are end important conveying we XXXX And of targets laid framework billion confidence we message out in $X key path margin outlined. March by both Cliff last capital that investor continue financial associated deliver to is briefing. execute I growth it's our on the Firstly, with revenue deployable and to in to the reiterate that
itself. Turning to the outlook
the quarter in it give holdco see But You'll that XXXX. the our you presentation the QX that view. stay course this is last gave we makes our is earlier, remainder we're this how as earnings remains to for for that going think the you where of to holdco about we us heard sense guidance business, as
said, adjusted the And that this modifying without to In of call. guidance. will we'll basis in range guide close show QX of withdrawing XXXX. a detail we've But I'll you our to earnings minute, announced be the XXXX a quarter, our come give Next in will view this business as marker. and a QX you our more divestitures for become I as the
gives walk have over we that rate to months we XXXX in way Slide as where XXXX and And you so. to Cliff $XXX journey divested in to cost described the our work we're into see that trough and related that see the are now is of do. XX from recovering costs the think piece what how loss of we the XX simplifications the parts of XXXX about to on the it businesses drive you to XXXX. And important that because as exit to can progress stranded remains we'll from the will on you'll focus various efficiency and the The next through or make work EBITDA other as slide, million we be narrow a of continue our we able and business. structure operating the
revenue generating business, Add as way reiterate, capital mix again, XX% prepayment our expansion of expectations with we XXXX to that back And and our get we that opportunities growth that you'll $X work drive and deployed to against already midterm we're as to debt to on share margin well to of repurchase. through move deployable around continue of our on and the outlook. billion to of
for in of the million QX, adjusted to move quarter the early the also as second usually expect And divestitures In low adjusted go in million. earlier. percentages to we mentioned costs. of remove terms X completed, the range single-digit adjusted as through $XXX point be be quarters, $XXX as our will base seasonally, we And expect to of the are installed up see in revenue. revenue stranded I would to of we margin work EBITDA our it's this you we low the for Clearly,
you'll the debt, approval reduce pay a see see interest of And approximate on based $XXX down line current interest interest million to quarter. to line expense we'll annually, started $XX that also have expense of second down approximately in the on annualized pay million at we we've as rates. debt, Finally, our saving
going lot for in QX enough out but laid detail, more on with you the earnings. hope we've A in come here, pieces clearly we to
got area conference schedule the a in Additionally, New the in York busy quarter. we've second
continue So out information to the as do you reach and more that. on for team to Giles
That I'll concludes my you. it remarks back Operator, financial quarter. for the hand to
