will Brian. fiscal our you, guidance fiscal quarter. for providing Today, full Thank results on and also progression XXXX some year reviewing QX toward for I our comment year XXXX be guidance. second I will our
exceeded QX the the QX $XX $XX achieved At get million. Let's which of operating we million, million of $XX.X revenue into range our the to guidance high top, end of statement.
of quarter customers. Our $X was our OEM by connected for million revenue this one aided true-ups in royalty
a self-report technology shipments normal a royalty volumes is to our Professional benefited of reminder, as compared our up the with their from profit gross quarter true our to of quarter greater this mix connected and exceeded customers that and revenue. as license our Services As guidance actual. approximate revenue the also was XX%.
Gross auto service of margin XX% also for high of each With higher-margin achievement, this end revenue periodically
at quarter, higher during gross lower margin than than While performed revenue our a Professional it Services was anticipated the anticipated.
operating the year year. compared operating $XX.X million our or the efforts were the expenses of statement; decrease down savings quarter last conducted million the fiscal $XX.X for $XX.X XX% same of Moving represents of end in full quarter to at restructuring million 'XX.
This a non-GAAP from QX in
some delayed QX. until R&D planned also We hiring
operating tax in full $X.X and notice benefit. million XXXX year fiscal in of recognized in the through to The Additionally, but XXXX the guidance to international company allowed record received quarter an later tax that benefit related fiscal was of year. anticipated credit this our acceptance credit cost us years
in improved and gross of by EBITDA exceeded well guidance million Our of $X.X driven $X operating our discussed million. $X.X as operating tax as of our costs credit loss range international million was well of the of profit decreased managing adjusted million. the previously continued This ongoing $X effort from to expenses
associated decommissioned by of prior to but noncash was this fiscal compared QX revenue QX last in connected driven services $XX.X with million $XX.X contract million, year, fiscal XXXX. our legacy in As was declined recorded revenue of year that our
compared ended compared million to lower $XX.X million free quarter the by million. income repurchase offset $XX.X $X.X in the million principal million fiscal quarter year. XXXX related last this again, convertible the balance driven decline quarter same cash loss of Our we and $XX.X the QX $XXX.X our fiscal was net value cash for of in where $XX.X cash notes, legacy of The ended decommissioned to net the of our quarter down by We marketable of positive securities, flow our contract. during million to 'XX, with for
to the to year restructuring year. in with flow the associated start expectations. our full achieve cash last well the positions QX absorbed cash transformation of million $X.X costs year Our of approximately flow believe cash us QX efforts We good
to During $XX.X the former our million with the of employees. related primarily costs we quarter, which $XX.X stock-based which senior related included of million, management recorded million a transformation initiatives, other charge and compensation of to $X termination associated restructuring accelerated
at breakdown revenue slightly up $XX.X or year same As was X.X% of last of expectations. million our metrics, and quarter we the our from operating look license variable ahead million $X.X and revenue
QX year there planned, revenue vehicles. or our was million million fixed for revenue quarter license legacy of the excluding $X.X reflects quarter. revenue.
We from trend positive the this million was the same of XX% increased when connected during up in Services Connected believe material demand a last no $XX.X As $XX.X
down As Service year-over-year. revenue planned, Professional our was
profitable a performed the more work However, was ago. than year
last are our was prepaid an quarter, adjusted compared As year. including billings, performance Professional Services key total exclude million million to this adjusted for which for Services, for period XX-month year.
Total billings $XX.X year we billings, previous our to QX review compared of consumption Professional and increase this as billings QX X% indicators X% million, defined up were of prepaid to trailing total $XXX $XX the
the shipped, forma from in royalties when prior an licenses metric previously total As a periods at we shipments quarter, upon look pro representing variable in We to the was shipments licenses our fixed where operating the as we where recognized revenue consumption. reminder, licenses fixed was contract signing. including recognized of refer use total value is revenue shipped license
to than compared in as last $XX.X Our pro were lower $XX by higher expectations. previously our contracts of than by million, the with approximately million last Consumption X% royalties projected. same year fixed and quarter, were lower QX and forma about quarter this which $X.X totaled year million line
Going lower forward, of we anticipate royalties fixed a with associated license past contracts. consumption level
approximately Our to shipped quarter XX technology with penetration to of months declined X.X% the quarter-over-quarter. XX worldwide quarter, was for year QX, production XX%.
We production XX.X% million compared by up QX up compared cars auto XX.X% year-over-year. X.X% last last but and the trailing same global down IHS in declined Cerence
And last Chinese within the to connected only last this Excluding produced been decline our decline. important worldwide total a same the of cars year.
This volume up Chinese basis said that relates note X.X% we our year also volumes a to selling to China, the the at compared production. increase quarter-over-quarter same part X.X% was production That penetration of the down our into production quarter successful to as that trailing to significantly reflects services metric compared among auto connected production and contributed increased for worldwide to versus have X.X% customers and not top worldwide Weaker domestic OEMs increased demand vehicles. on X.X% market. in year-over-year ago car shows to-date, use our China number XX-month is quarter.
This
of range QX, million. fixed to our revenue the license of guidance; projected to million $XX quarter. to be in to expected turning currently for $XX expect Now signed This during million includes be $XX the we revenue
Services Professional our Additionally, QX. headwinds saw guidance revenue absorbs $X in in QX approximately million of we
the projecting are -- are we the for projecting additional year. of fixed revenue We not license remainder any
was a implied and year. context range adjusted very we that to license catch timing-related that level be XX% year margins of When positions cash gross had first in the previously in last to to fixed the With full the midpoint net full few adjusted of any be the 'XX it revenue the confidence EBITDA expense half the to outstanding off us intention the in prepared our that the and $X noted, our forecasted yet not officially repurchased and million of million With income between convertible looking aided $XX the is to notes. are up start guidance positive fiscal by at XXXX mentioned, And your the not of guidance.
The strong be change side of on in gives this million and but clear, to flow liquidity, the said, quarter, early $XX.X expect profitability to revenue, our later second to XX%, we be us range this million QX flow. When will well based cash and in revise that that still especially QX, guidance, if to top a come you would we for as factors direction us negative our we quarter, our of our is range.
To year of towards means to million. improve the of Rather, to adjusted the $XX calculations taken in $X range EBITDA full EBITDA guidance in numbers simply year. are end free of our gave in business. likely year year signal as
continue close with plan of strategic direction it forward. potential turn June, and $XX execute convertible to the our to for the allowing a solid move retain reserve due financing. longer-term the cash financial As now Brian QX will to also capital of could million while as will pleased to now in is results and to evaluate mentioned, continued our extinguish remarks. structures position and to through remaining some back we Between that be our we flexible us June we Brian to combination are Overall, company our performance.
I payoff notes
