noon to evening everyone. and AK or Slide to Please you, now Thank #XX. turn
to we As Susan reported industry-leading line quarter mentioned, of the revenue left, than first quarter top our progress, technology. higher the commercial demonstrate previous operations was continued $XX.X improved on XXx leverage and our first results when notable of which XXXX, further first we and revenues almost quarter as higher quarter in growth, Beginning the million progress and the for XX% compared of XXXX.
supported Our staffing increased production sales growth delivery notable add increased driven against effective contracts, revenue key our capabilities was and by improved production to our by capacity. levels
revenue to Moving guidance. our
million battery XXXX. We our with do used respect to of the outlook remind changed full to that our want cells million in I year are to you we for the have $XX affirming $XX on for cells, the an we Previously, impact value revenues product a so we included having of major guidance. cost was revenues. thus customer, our of how related and procured in manufacturing both revenue these arrangement frame
consigning a into customer Going battery and we them. will forward, make that cells we that anticipate product be procuring for the major go
underlying part the As single a battery be volume this reported the the material, largest Xx arrangement, revenue year. longer higher a you guidance cell would equate no revenue the the either to roughly in how of our of bill will or when component stated customer. is prior of product our the revenues to Absent cost than we this expectation which of of value in for result, cells change a compare
stated change underlying the or of if from guidance. future battery cell the revenue the in revenue consignment you inform arrangements will impact We assumptions the
slide. the the equivalents with side quarter the the $XXX cash previous of in Turning ended cash, to at will end purchase cash quarter. I associated the of compares acquire $XX refer made right approximately simplicity, fees which the joint our million million reference include and which $XX to for both with of to and Please we We investments, to sequential with directly the significantly by of former the price in The remaining transaction. the venture. million expenditures was impacted decline cash roughly expenditures interest liquidity. These
investment and drive property manner it this While this heard markets a commercially revenue and is as strategically further control sales was growth. substantial the company, the will was The developed to by full up transformational. which deployed you today, intellectual capture commercially of our allow and and valuable new opportunities, new us in open new
February, this quarter, last standby of credit, which equity a secured an discussed as $XXX ELOC. I line to refer million As we
and to the consider use we intend needs While the the amounts sold and cash and to trading timing of continue ELOC, volumes. share will context price
Slide shares. million million quarter, now XX.X turn of the sale to the through we raised $XX Please #XX. During
focus many As steps market collectively and value continuing heavy-duty aimed we team segment Lauren the our of is the company. in commercial the Susan are taking the discussed have truck the which vehicle applications. long-term including which discussed, on largest are increasing
where broadening value are reach is into our we and for also believe new technology our customers. diverse demonstrating applications, We differentiated
operating to As Anne we important continue achieve improvements. described,
which discussed AK expertise, depth customers of the industry-recognized breadth commercial support continue now increasing key underlying new our reflecting agility future. elements will to largest the and launch of of our for supports and our the customers applications, our programs into customer, technology the scale concurrently. and both also to while new capture of We and support
production can ready our commercial in making we investments laboratory marketplace. enhance Finally, ensure the are and to support important we to and capability to capital our be and growth capacity increase improve
many continued important whether have is to current be clearly liquidity continuing capital to similar access our of which to efforts, they it require equity Our our with our we capital that was to also are technical our are. support continue drive markets At the be the and in to initiatives. our capital assets that market, it will other access clear ability or investments, and for companies stages driving stage development, as resources, operating to
the shorter-term mindful share are We of impact dilution. on
to pace growth and increase to market opportunity the funding long-term continued However, to path which The progress. continues opportunities, our and forward can ability the support increase to business. enterprise we value reflect our funding value of be our be significant outlook must development shareholder points the to and also many same of overall require time, affected influencing by related the recognize industry. and realistic variables At the
of the Some shift may may rates which the growth to variables these needs. capital affect right, line of also our time
the specifically in on to needed and equity proposals, as raise statement, already, many X numbers access filed Annual for described Meeting you X to X, capital. we the the which, year. are likely I SEC of to statement have proxy out focus As want measures April important seen XX our our market of ability proxy ongoing this Shareholders the with on point to there
you continue addressing your will We will important to of that long-term to options all best for to support shareholder we to of will While be our our support. and turn Thank ballot all attention enhance ongoing explore your now proposals through questions. value future.
Brent, ahead Q&A start go please. the can and we session, So
