Thanks, Chris.
a growth when focus reported focus generated largest increase investing total X% we last the growth our users WM the year-over-year period, XX% of of reset business, in growing to Canada excluding with our operating In exclude our metrics and XX% versus on the of our QX on year our reflect marketplace We QX, drove of to section given marketplace in which we we Weedmaps' basis, accessing revenue website, completed to adjusting Weedmaps an XXXX. subscribing results users third prior well as QX active the Our against didn't prior period. attributed million, the when as on $XX healthy learn clients quarter the and opportunities. and monthly users growth in accessing across year's XX% revenue, track
XX% Within monthly in clients average the and revenue growth U.S., paying per paying XX% growth average we year-over-year client. in monthly year-over-year achieved
back as saw half of to spend year. model of to deliver had. revenue number adequately ability of drive we licensed sequential revenue licensed shift the growth, deceleration Further pace significant to market QX a between on across end was in adding as at to we year our this throughout a supply said, to demand channels. glut, Chris largest We of ability within in ROI markets a spoke these is consumer is have quarter, our channels. to volumes dynamics our to this grow price With resulting channels consumer demand, clients. keep consumer in QX mentioned, XX% serve licensed from and a achieved peak third XXXX. that versus market versus we to deal power per this inventory issuance in of client our basis the versus channels licensed I offloaded believe revenue the license within primary result that slowdown we exited in the last with channels differentials shifting new required As end-market sales of light have non-licensed levels versus to impacted our to which per a quarter-over-quarter non-licensed California, which the higher seen excess And of operating the level testament our the producers, expectations demand quarter, failure client consumer as within licensed over the a retail of deceleration of at just of QX QX is lower of we in
the our to We across of one per our worth client It's base, to clients our our transact. continue consistently the increases also engage businesses despite metric, cohorts. system longer most and reach at to the higher we cohorts them than spend of levels that, for higher remain our monetization stay on prior entering client the of in efficient revenue cannabis channels consumers noting our platform, levels with drive client new
Moving to P&L. down
implied rates, bps year Our of quarter. versus QX last XX% $XX margin expansion profit reflects at gross last versus slight XX margin of million, which and expansion
the our time, of this about expanded margin maintain also environment margins for we as our previously operating new gross to over during While power the areas, model. and contraction speaks spoken growth our QX ability expectations we to
of at in prior operating came Our expenses DNA quarter. revenues reported to the for at the and expense XX cost million
and X non-recurring Our and our these X be on available reported additional million in charges million and information Cannveya to CannCurrent charges related compensation, X-K the will includes acquisitions. OpEx in in More Sprouts, the XX-Q. stock-based
a sales are million, teams, or and stock-based teams, last items at which versus in our QX, sales adjusted in these comp increase sales year-over-year count OpEx growth OpEx increase for was quarter Excluding strategic enablement prior our driven XX% million XX% leadership, the year. investments. In as by marketing head came XX as represents regional and XX marketing to well
million capitalizing development reminder prior year-over-year work to began OpEx QX. we X represents in that comp product stock-based a development also just decline, product but Our new of XX% a
reported product costs capitalized X.X excludes OpEx development our of the So, million during software quarter. development
that for related sticky Again, is the public by insurance. G&A our prior driven million stock-based cost to represents comp quarter company, was such year-over-year paid we a And and all to in that acquisitions. incurred detail advisory X-K. primarily available this Our growth, as D&O new our as X% fees XX
us also within the quarters, our versus for bad expense recognized reflective been with demand in G&A clients of X an We of which shifts the prior some challenges our for high debt consumer million end-market of having is but extraordinarily have growth. that the impacted level is dealing it quarter, that
at or margin adjusted of As million was the rates. XX QX our a result XX% above, EBITDA in
a adjusted as reconciliation mentioned the the and a we well result that prior related quarter, stock-based reflects income earnings versus EBITDA during as to release. cost provided was is X our to investments ago EBITDA we comprises A company EBITDA of million adjusted decline acquisitions Again, our of public OpEx a advisory the above. made a paid costs, comp reminder as we in adjusted completed. year Our to net fees the in non-cash the
which was million XX accounting regarding value income of these warrant net statement for accounting change million, resulting earlier warrants. the the includes our the year, of from liability reported following a types fair in SEC Our our this XX change in
I structure, we’ve reported income, WM is unit With publicly operating well attributable that our Upsee holder which to Company As in last Technology we transaction their structure, why quarter, net noted entity often net as in Holding share addition to we an Inc. and traded WM as Upsee our Technology which have was entity, income Inc. in EPS shares complies shareholders or several count. classes of WM
and September I As shares acquisitions interest of million of and spoke to we XXth, in of which outstanding we’ve voting stock, Inc. common recent founders XX.X issued the to had that the earlier. WM shares Technology economic class-A includes
our have one which interest have hold Technology with interests. units for those one in paired two Inc, stock. economic also And that peer outstanding, interest We are entities. class-A share These class-V in XX.X but of voting million WM and are operating shares common units economic shares exchangeable no shares
operating have We units They additional held common current entity, be which shares employees. our and former XX, vested also XX.X September A exchanged are of outstanding largely of XX.X can as class of an by million into in stock. million
incentive plan. filings, about adopted have restricted you can our as as an Company of we that stock Finally, the plan, equity And XXX,XXX units. part in see invested
account. September our strike of another Investor also would as share basic diluted and We on to of types $XX basic site. public be $XX.XX. quarter fully That the be have cash XXX approximately Relations four sum the the the debt-free. in included top information shares share of price the million September fully when XX.X XXX calculating with XXth found can those of separately on continued Our share at a count private interpret More account warrants share ended XXth. million on and and be is with million We the million diluted basic
operating Our in generated to from generate $X million in continues the flows we third And flow. significant quarter, activities. cash business cash
Our primary our and funding, cash went Cannveya purchase acquisitions. the of during towards portion uses the of quarter of cash price the Sprout, CannCurrent
inbounds noted, our options. priorities. on that receiving outlook. financial could who I'll And Chris we the turn weighing to to strategic we first partners As continue on integration opportunities bolt their from now continued and dialogue have be accelerate active on to promising our are
our and I than a call, on been to opening for dynamic markets, licenses with and cannabis year on last end noted the flowing, slower space like but would As quarter's industry industry new the see. this the has XXXX year Adding to demand seen non growth to the as the we've that these from last. the uncertainties channels license of licensed to consumer light work shifts in producers supply slower or versus
range Given reported these our in We in XXs dynamics, the high teens $XX low low U.S. for be prudent high million to we basis growth think growth it's on QX $XX of alone. a XXs adjusted of EBITDA. which QX and outlook will revenue percentage in estimates revenue to to revise the to the call million, implies year-over-year
the in million, mid basis range represents the the of million revenue to full world. year growth in year-over-year QX for implies range which US reported for on XXs of the Our teens $XXX the $XXX and high year revenue percentage
look openings. market year side, On next QX investments are and new towards we in the opportunities accelerating we as investment growth
working Cannveya are towards of We as integration CannCurrent the looked in the solutions and XXXX. Sprout platforms at we stillbirth
list we're into has focus across as revenue we companies product those have strong teams, heading came to and design regional and in priorities with continuing year. entrepreneurial teams each aggressively to Our progress support and next new entered hire the early management our of been headcount
end-market million our full time $X EBITDA XXXX margin million year. for Our to our more some like million teens This revenue date, call. to year. QX We in for earnings Based work industry over as planning basis, we believe said, year working is and current for outlook, excess outlook. in percentage impacts XXXX expectations QX on year at With the for thoughts Chris on cash I'd of million on adjusted discipline high to normalize of in a to the points investments moment share which to investment, leading drive growth. looked initial adjusted our expected EBITDA operating other for we'll expect will guidance detailed to maintain differentiation our range quarter that as that rate a we'll plans support $XX in growth we outlook We're our for beyond. provide generation. growth of the client-driven to across to level to revenue to We and well the that in reflects guidance flow of $X plan resulting that's QX mid the high-XXs and that EBITDA next the fundamentally on of a and XXXX cost that annual positive for areas dynamics but $XX strategic currently year opportunities our continued full are us was of for in range represents an earlier, accelerate enable spoke company,
Our confidence making that in the the that our having, Tech we today a we we conversations XXXX. function investments to are and will for opportunities client of teams are direct our capitalize are allow the growth in WM the us market outlook is planning seeing, by growth ongoing
markets. opportunity of confidence growth is we our in a end Our our also function have long-term across a
that another with Our continue states least we will that existing levels where to just minimum entire today's We grow level by U.S. states. underscored of number X,XXX grow If that today. define which will of licenses minimum growth to do of store existing licenses appropriate achieves is our at believe license business acceptable U.S. be by density, just you under X,XXX reach within XX,XXX density, times. per factor four a count store as residents one the and
but licensed in over striding see, for like not the XXXX issuance, our As we're we'd when. and density has beyond. turn of concluding functioning Chris And more accelerate factors a Tech, increase sporadic long call opportunities a through than license U.S. Chris noted, the and cannabis provide is to retail to I'll a growth that, this and change if, to With leading some efforts issuance remarks. These the growth for economy policy runway both now WM in been of question while drive