Thanks Chris.
for sustainable backfills with efforts continuing profitable we environment, in control. on progress this focus to our Weedmaps visible this We've our clients for many client market is adjusted improve over investments beyond most platform. than foundation have client growth we which on marketing our increasing end-market marketplace actions in initiatives our to experience our enhance and regions. attrition these drive under-penetrated make and voluntary today can the to users, the limiting and adoption positioning, we're go-to-market the solutions and Despite tightening what are second financial confidence and returns narrowed in that to will the broaden to our We while headcount and challenges quarter continue EBITDA priorities and while profitability in including the for operators strategic against control, environment, product regions, our base having reductions, highest outpace manage towards ever time. Through the across continuing our in taking growth build more across
Turning to results. our
growth Our second XX% licensed end across of of compares to declines year-over-year quarter revenue the our markets. for in channels many double-digit top
we noted, were Chris delivery second headwinds. broader the recent compress compounded Lingering High with more significant by prices, faced deflation, wholesale already were spike which operators our anticipated margins further inflationary As gas were then challenges in for quarter. what operations. headwinds in of clients price the with
drive rely quarter did While half impacted WM on we ways growth, to anticipate. was in that of the ability to clients not spend during these back the their significantly second
see heavily our their financial but their on ability healthy invoices. stay As clients impacted Weedmaps, the to referenced Chris also I on to challenges current noted, continue returns
the that a clients result, on either half of the put removed in we As back drove platform or plans, which had nearly from churn outsized XXX we downgrade the quarter. payment and activity
the For month recurring started the retention, our revenue we of for example, monthly solutions fell with which quarter for June. dollar April, to of the month XXX% across a of net XX%
mid-single-digit our billing retention on XXX%, payment dollar put Excluding issues plans These either in monthly clients. from removed paying in clients which of XX% in with historic monthly offset resulted pain was our approximately for we June which average above a client, year-over-year we is however, that or platform the the challenges year-over-year revenue number growth, client decline net average which per monthly the achieved levels.
Our market. versus continue are by license the on Yet based XX% end third-party most over to the in the market. California, data, we in challenged in marketplace outperform the California end prior California declined same clients XX% largely Yet quarter our year. Based period. even revenue the nearly second market California grew by the
the dynamic. reliant that ability in evidence function said this growth improve our our not a and solutions we've market deliver value is As margins deliver to of and the is was to we growth new of largely end past, our clients QX on entirely client Rather, growth.
Moving down the P&L.
Our and new of in investments QX QX ad rate gross network is our offering. consistent we've made margin XX% client with in particular our reflects solutions the
D&A came before the million for of quarter. Our and in expense revenues reported operating cost $XX after expenses at
compensation, with our is More other be the deck charges. and million includes $X our charges these earnings available information on and million nonrecurring slide reported stock-based in XX-Q. in in release OpEx Form Our in will along $X earnings
last company items, comparisons these the by costs Public public versus XX% million quarter Go to in given growth at only our are non-GAAP adjusted timing in adjusted for were our year. or year's that Excluding OpEx quarter, of included It's OpEx note transaction. last impacted the a partially important came $XX increase our that second
our design to QX marketing holiday. our the increase driven investments and works engineering OpEx go-to-market adjusted in and XXX support continued product was teams, Our by strategic
by expense reduced our drag approximately we to versus quarter. debt on one-third margin, first continues be While expense the a bad bad
for to us position during to to and challenges, relative growth mindful headcount to our hiring current in and net the QX. noncritical QX the in spend quarter We to we course of rightsize compares with throughout reading were areas. XX% half. which client several growth pivots levels we proactively of As across spend investment QX, liquidity throughout reassessed second slowed we reacting of quarter and made environment well X% cut achieved our the the of down We're the
As decision count last head reduce Chris week. made to our also the noted, we XX% existing approximately by
our non-wage to With our an digital respect vendors We marketing, provide digital investments with rationalized marketing. let me also primarily outside and update.
historically we've user monthly our know, help metrics active you used the to As of effectiveness efforts. gauge marketing
cost As metrics for discussed pop-unders, We're also in marketing direct of in today, we driving may management composition information useful dollars. engagement. investors the we where with been the including reviewing believes of be other release brand are have more mail evaluating to most but awareness, use in providing about promoting determine the effective and which which limited
that We expect our update on to call. in provide an third quarter
Turning EBITDA. to
above to EBITDA short half to goal adjusted given minus adjusted million came QX a million, slightly and amounted which Our breakeven factors for our EBITDA minus the $X.X half. the of first first was being $X.X of positive of
net reported million warrant was on of statement change our our for year these SEC fair change resulting of in income the value in includes from $XX $XX liability accounting following a the types which million, Our last the warrants. accounting
site. count and fully position income have end are the as A share as million earnings Our we're ended release EBITDA net our to our and with across B calculation agenda. the in execute operate growth cash not do quarterly and with business million comfortable our for and We to quarter our posted $XX results liquidity outside capital Investor our to need presentation A Relations classes our classes diluted well in that any of $XXX the our count reconciliation and share of at Class share quarter. are details the adjusted of just and provided was share
of and while balance to drive the is fiscal for that a outlook our that conditions monitor we're consumer continued While that we conditions addition can growth, challenges weigh I the landscape, the turn competitive XXXX. financial our profitably. macro I'll on operating provide Last to health quarter, believe of demand companies cannabis. facing clients in we for these the on market to side now time and strategic noted to our continue mindful business could advantage
our in business years. licensed outlooks revised already clients prior versus financial from lower our have cannabis were As levels what growth we markets end and accelerated, challenges across the downwards this saw the ignore in the of XXXX suggests getting consumer the is today cannot ability second our quarter, for our remains We with for demand anchored a more risk of potential clients. to about pullback ultimately as though reality cautious health even are achieve Further, cannabis financial we for consumer growth data healthy.
these For our half. reasons, we've expectations tempered for growth second the
second confidence of We have on on to assumed forward that versus To financial lack the acceleration also provide second original clarity end particularly client market QX and where California challenging end have growth conditions. driving the now given growth levels that year-over-year the in half. predict remain health declines seen we however the client in and accelerate want half, planning average per end, will in revenue California, are if of as in would outlook market on in visibility in to driven areas an had our paying visibility which We higher growth.
will the As such, half. as revenue our and also operators second liquidity average in constrained paying for client planning if remains we are continue declining per
We expect these declines paying client our growth to mitigate base. in with
half, revenue low on area flat double-digit year-over-year for Given which the is percent year. the for implies where single-digit an planning outlook full mid in against growth total the down a these to percent dynamics, second we're basis
created planning for for believe macro are percent the operators facing revenue assumptions the ongoing While QX are mid half environment. positive the prudent our growth is and second to-date in by the the our area, single-digit that current we given rate uncertainty challenges year-over-year
moment are will in clear in time we're We've winning across lowered self-serve It's spend With believe such ready licenses we're our investments. outlook. to material growth expectations and when eliminating reduced in see opportunity the also right-size unchanged. aggressively to several our important our pace we and when to scaled that from spend. remains be significant to long-term data new opportunities capabilities organizational in York structure productivity that get and priorities our yet of also issued headcount areas non-critical of year have back slowing we as areas several a and are as also investments our year, and have of and not will note versus growth, New We've operators reassessed contribution spend this our expansion. our revenue for growth not investments New assuming that We in strategic functions revenue down for found certain this by international and Jersey our signs generating business plans the
opportunities growth We revenue continue strategic, will ramp increases. but to as as view into investments these selectively visibility
license year. we the where Finally, of have on of on issuance new the Coast, at we better timing East visibility versus the were start
we our result, Jersey critical a are as As With still that the initiative. York reducing East winning planned said, we New New Big winning and also accordingly. in view investment invest and we'll
feel strategically we our markets. that lower levels to comfortable still of plans support However, own spend our these
with positive As of record efforts, this to rationalization decade-long EBITDA a expect generating track these for full with the consistent year adjusted year EBITDA result our adjusted profitability. end of we
that, we've noted is closing company it years some a to versus in growth With and profitability the our over As to different DNA I'd turn to profitable comments. is achieving commitment like as year driving this to for prior. our Chris no core past,
