Pasquale, and everyone. afternoon, Thanks, good
a refer report please and hardware. charging see charging where subscriptions As lines, our recall non-GAAP network results reminder, our along earnings we our and release to GAAP three Network connected systems, we other. systems to to continue reconcile that revenue
services coverage Assure Other into offerings consists we of where subscriptions. include our and and that warranties connecting ChargePoint sorry, hardware, revenue hardware; services software recurring and certain professional warranty non-material our our Subscriptions warranties hardware, ChargePoint-as-a-Service cloud Assure that and connecting -- items. bundle
of revenue $XXX at to year-on-year up million systems $XXX was was QX, $XXX guidance Subscription $XXX revenue, our XX% year-on-year. $XX XX% XX% For at within up year-on-year. Network million sequentially, charging up XX% of XX% revenue XX% million total million, was of revenue, and million. QX range
increased revenue Other of at $X million XX% X% year-on-year. revenue and total
end future revenue customer and Our the up subscription quarter deferred is at payments, million, $XXX existing from grow, and to commitments revenue recurring from million QX. continues this the of at finished $XXX
verticals. to Turning
residential, the XX%; Commercial and from As fleet through you our to execution XX% revenue slower report year-on-year. X%. large them retailer were relative continued against other healthy to in X%; contribution fleet a residential The know, commercial QX programs. saw billings shipments grew expected. were and perspective, products split. QX, percentages approximates home we over was XX% which than fleet billings In programs. building smaller the demand for utility billings and we XX%; dealer, Despite QX
In was XX% revenue QX America's delivered and North increased first perspective, second sequentially revenue, the our XX% $XX with consistent and in this geographic year. a of million XX%. From grew was Europe XX%, quarter, Europe year-on-year quarter
Non-GAAP X%. gross QX gross to for Turning margin. was margin
overruns a of indicated, and point goods chain component XX or impairment products. This costs million higher $XX DC this sold. taken charging cost reflects to for our margin related generation address Pasquale first As was supply supply to
addition end at this this included first headwind demand product this impairment, In our points continued quarter see cost of structure. from X product. gross generation pre-impairment for the non-GAAP selling margin also for to the We quarter
this a increase sequential $XX of against for the of were and QX perspective, improvement first expenses XX% From a point Non-GAAP X%. million, leverage represents quarter. operating increase an operating year-on-year a X
Pasquale operating expenses. when reducing I I mentioned, shortly. our we will the to implications give actions guidance For speak reasons took today,
was grants in our our QX and refresh up our from which pre-impairment low the in to margin. was QX, was due year-on-year, lower-than-expected towards expectations $XX the compensation higher million, range million Stock-based of $XX than step. annual but do typically QX in This gross revenue $XX stair a We EBITDA improvement explains a loss end QX. X% landing million. adjusted non-GAAP
than $XX last inclusive the impairment, Our a of XX% non-GAAP quarter. EBITDA, million, second higher year's loss adjusted of was
quarter. We build inventory the continued during to
inventory, $XXX and from level QX through working with the are not commitments. the of year. which expect is we As the net increased of rest of supply up with million mentioned last to this end in finished earlier quarter discussed quarter, significantly do this associated earlier QX. the We inventory at We over million $XXX impairment
vectoring managing turns and these through We commitments are our on in goals.
$XXX the in generated program, total hand. three raised which through the million ATM we cash, Looking balance has our with of This quarter at finished $XXX a includes quarters. million million $XX over past
as or we This becoming It entered as also deployed four facility to facility, approximately drive million will undrawn program year. and a a next outstanding our shares market This credit global revolving July $XXX we is sheet currently the cash QX, XXX at strategically into towards liquidity. plan. is During strong balance positive capital XX, non-dilutive We leading alongside banks. XXXX. had million maintain flow of with provides be
guidance. to Turning
we XX% up the to to $XXX million, XXXX, sequentially the quarter at X% be For third up million and $XXX midpoint. of fiscal revenue year-on-year expect
$XXX year, million midpoint. at guiding $XXX we For up are full year-on-year the the XX% to million, fiscal to
expect gross third and for non-GAAP we on we quarter, a as through between inventory the earlier. discussed work to Regarding levels be basis XX% margin, XX% the
margin and for manufacturing, cost aggressive continued the our issue improvement improving structure and inventory year. we supply behind gross expect programs With would resume in to on next us
everyone on announced level $XX year. given to remainder $XX $XX to in of help for the reorganization QX. be we to this don't million we the typically a Though million operating operating we QX, new and expenses, expenses today, to expect Therefore, want million we guide non-GAAP in reset $XX on million
of loss in $XX are Finally, reducing being operating to regarding we adjusted from non-GAAP EBITDA our our expenses. revenue the million, and are this two-thirds gross targeting managing prudent QX margin level year adjusted guidance, QX. Accordingly, our our goal have in while by QX EBITDA we of
it that, with for remarks. turn I'll And back closing Pasquale to
