good great quarter morning, me Thanks, Jen, to we third also and everyone quarter. had Clearly, call. another from and welcome XXXX our
we XX.X and top quarterly for Solid good U.S., which line was XX% us. record had grew In million, for the Revenue the quarter results. bottom performance. to revenue another
inventories are pretty quarter was record results New that one deeper car little some new from flat a improving, better much others, dig as but substantially us. a of were off car the into U.S. they're example, numbers, to so manufacturers sales had year you the Tesla helpful of so ago, for including doing than but when the lows.
our inventories significant recover. do gross saw We that see September didn't. benefit manufacturers while ago, and Some others terms in in as these September a margin inventory in year increases of of services from dealership revenue
compared from when XX% quarter improvement incremental the XXXX. to but will employees Our some business. and lockdowns In the QX in second the some declined for third occurred. inventory larger [stay expect into that's positive sequentially, of for grew X.X% revenues in fourth quarter pay] costs our China, continue and the saw recovery we China [ph] the the just we QX that some of
next into new posted While see still September year. car significant going we uncertainty good sales, China
our position Like are to and revenue dollar [indiscernible] how based how in from increasing lower the If current performance news in you We're the sell-in in China. and just is of we sell-through keeping Middle and and sales a mind, probably on look based [$X but not have versus selling against customers, against in with overall and quarter, on forecast, pound the QX, terms less strategy and dynamic we U.S. QX. to sales most the certainly of is revenues we and to go – keeping the levels, China today QX which in and more probably We expecting saw during QX on in the our plus at the want also East or directly unlike including in we performance ultimately market performance of strength saw America, Middle brand. in then rather. dollar euro saw in revenue strong in want in impacts million] and regions. reorganized gross QX QX, we there region margin We've saw regions, Canadian Canada, structure the to for quarter, in Latin QX, those margin which which than both our gross the [ph] each for East, record helping other our to each our
that on constant basis, to prior rates. $X is exchange this for approximately margin So, were million a impacted the currency negatively gross year year, and revenue by quarter compared
for to costs FX revenue impacts the majority gross through are part. our most U.S. vast margin in to product dollars, the As the fall of
taken rate. We had So, in would us for which products to the the penetration impacts, well and despite attribute XX for – but increasing our that us that, rates in overcome million these allowed have year's exchange market to revenue quarter. we general the demand, last the FX would in to strong over that performance have to been
quarter. good really So,
QX rest in declined than lower as Looking China to sequentially than million, mentioned, seasonality Conversely, in stronger to to QX. been the in in U.S. typically holidays, QX. historically previously of And revenue from due $X had China year, QX QX we the I etcetera. with be QX plus expect
at to than range QX in our less So, end expect QX revenue call. the on given this U.S. revenue million of $XX last on slightly This the would higher the range. estimated XXXX stronger $XX to million we XX% XX% growth dollar and total discussed or be our annual QX, put we
beyond watched macro of in Looking And all us, environment inputs. a car rates point like impact impact equal, sales Clearly, for the set interest vehicle rising which things QX, takes new at everyone. it's some could we the future. new affordability,
which have of demand vehicle consistent On other two there's hand, view mark-ups. low about the high pent-up talking relatively the market, from that new the the manufacturers years of past and their is inventory been
that's seeing the positive exorbitant ads us. dealerships as evidence additional market an down to way inventories from be would for to a as positive to trade tangible a as well. that recover and us profit So offset adjustments need that additionally, generate for And we're to and physical
able respects, that So, these been been dealerships of have against the market years. form impose many in past an competing accessory we've the two adjustments XXX% over in with margin to gross
So, one again time card see products month. be we repeat cars each time view for attached that from any that a predisposed us. buy through almost are the Overall, new a which products those to also continue our their our people percentage same and that, for And our environment. we rate buy cars reversal from that a trend of to car to still buy alongside remains is products greater our see to at the in next. And new to positive going the
very in dynamic executing us world we're but some that that And give So, you to business well. us, continued space then with around way it same October. the no in us momentum we're in, when our has decouples the within add margin. the does especially from that And
continue cost areas good We progress impact, then a increase on really in certain when to quarter, and I before, came the initiative, the XX.X% FX margin. seen our overall which at gross direct for number hit which mentioned you've in to which good a is make margin
constant a would So, rate, for if year's XX% QX. been using last exchange have we it currency margin basis were gross over on
of some We It some X% order haven't all adjustments year. the pairs to others taken distributor all in X% and particularly did start gross impact pricing a that to there's areas and risk, the equally. bear that where pricing the rest year. do [ph] although right begin the markets, I of the will goal they we balance that as in we the We for any of the of more in under year, dollar, have lot won't FX have than U.S. phase XX% end currency the Obviously, to year towards we this finish, markets [paying] but mentioned, margin. of where brunt with will the our
hit to right about. the we're on that goal we've So, year, track talking exit been to like
XX% are company. quarter-over-quarter. So, margin, QX EBITDA, records in both Sequentially the grew very XX.X% EBITDA and reflecting these for finished We million about happy XX.X a EBITDA XX.X% that. of
gross we some in So, then of investments. this. and we're QX see. and what us some higher performing is ways so QX year QX a really sales a to come We're and as QX positive depending and QX similar a seeing really see of out the of pleased can SG&A for the SG&A as with want are in in happens quarters QX, QX result margin percentage on typically beating way China, you run strongest over of what on our
before, with extend the customers the we'll either much of with could platform we're a our being that a business for and a operation in for we're types lot software, that seeing to their but that little happy of think dealer. bit new because provide rolling there's adding really deeper I you our in have pretty leverage version there, out So, to upon see customer trade way, good XPEL of them DAP lot the things we and different of a will is operating mentioned in we're investment this what just good as software that beyond in into we all numbers this which the There a offering December. an And features large happening quarter. are value good margin our posted be to this we business We're making that quarter. begin as
also doing quite the the has U.S. accounts, network vision in Our of national country. line around to to all our do work some amount retailers dealer our well. some and able for national using footprint secure been We've the been work
started that trend film factory previously hope direct protection with So, began and month our announced accepting orders in then promising us. a October. continues, opportunity paint that's lastly, And for Rivian last program but
that now the has but launch mentioned, it of previously we started. was As delayed,
really of Show the about to last Las So, booth our one in that. Vegas. those month showcase in vehicles excited We're at SEMA happy
of acquisition times our in progress the under before. in of acquisition discussed the in that of we time to paint market We're momentum strategy customer be distributor example continuation and in the we've performs October. at the grow many the leadership as our great we we know it acquired of from front, history in many, of close great the protection short since size a And and size, On another Australia can relatively Australia that fraction times overarching close seeing film get business a market we is closed the Australian already A our our business. which Canada. to willingness our today invest, many in
gap hope to we So, that over time. close
in reason We hoped have other continue haven't monitor pipeline, have acquisitions to so the would yet, for one that to this to close macro. to that. some We'll closed we or work already on continue another continue but including the year,
Our acquisitions have been modest.
measured. is cadence Our
Our debt is low. load
we'll lookout expect that these to acquisitions not obviously, forward still cash our significant but at in and certainly go putting point. with this changed really pursuing how work. has the point. outlook change interested be needs to this it change, don't that we we And if to We're on So, at
good really all-in-all, quarter So, our Thanks team. to whole for us.
here by have that. performance outside success just trends, I positive really think attribute the more underlying our excellent to to no explanation than lot other some a team. of fundamental There's of
So, of thank you to all them.
go that, Barry over and Barry, take turn then with some we'll it So, questions. to ahead.
