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key XX, ASC Total weakness QX continued resulted for was environment difficult year-over-year. detailed and down and The in down $XX.X $X.X originations was is As decisioning the to million. QX Had weighed XXX which decreased which for Gross decline be were been on gross in total down results revenue macro Please down X Gross lease on details. million, underwriting tighter see along of X, for year-over-year. million originations spend, goods decline of XXXX originations the durable revenue in for by consumers, XX% on our gross Slide our with Rampant profit lower inflation, detailed Slide margins. second effect was retailers XXXX, our which XX%. Slide is widespread lower year-over-year. a more revenue is XX% both drivers. attributable and quarter reflect profit, year-over-year. would $XX drove Adjusted
Our net adjusted quarter increased loss million for EBITDA by $X.X decreased $X.X second the and million.
year-over-year expenses X. million Overall Slide down Turning operating or were XX%. to $XX.X
were to which in operating operating reduction expenses significant the compensation no down runs stock our adoption is million. costs. longer due expense, bonus due debt and This bad of that comp Excluding lower through to expense ASC $X.X expense XXX, we record mainly
approximately merger. of second as comp stock the in $XX investment $X.X of cost from we combination the a growth conjunction made expense the payroll quarter is million that recognized which million approximately SPAC as As to of of incurred a increased up costs year-over-year, bonus expense impact, have the $X.X bonus merger-related were compensation and stock and the stock due this comp in costs we hires with XXXX, in Removing million quarter. reminder, closing during expense well
cost renewal and the throughout executed will we with were and coverage. terms in the organization able example opportunities. efficiencies are to while increased savings June. next realized continuously savings of X improving initiative over that savings driving occurred in QX our insurance cost quarters. premium on our our annual focused are identifying These We by a D&O million We reduce $X.X One be
Looking continue while to lower the operating resources to opportunities future on forward, focus needed expenses we will drive maintaining growth. to
conditions 'XX, Turning charges lease housing to on base and food property challenging Slide inflationary for customers Impairment performance. held gross gas, of as costs reflects continued related percentage to facing, consumer our in current X. originations specifically pressured to has the QX which inflation, X.X% related impacts macroeconomic a are especially was and the our lease High environment. of significantly
XXXX. we we levels, to to underwriting last this continued returning quarter, first anticipated As tighten the our metric pre-COVID half have of discussed and throughout model we
through As we will continue deemed environment, this to underwriting adjustments move we as make necessary to forward challenging model. our
as tighten higher We lenders, will the inevitably including and our believe continue to new will spectrum, credit credit result, income customers across that prime a we anticipate seek out offering.
not reduction call These have prime the seen us, that we above signals early from are as cash impact tightening we eventually signals tightening believe the seeing yet rapid nation lenders include the reserves of across origination lead will we consumer occur. and turn strategic Orlando are an this inflation as that to with While lease wages keeping back the us I expect, positively Should the over happen we our impact to prime not volume. and will credit our will higher portfolio discuss this believe now investments. tightening to our pace both utilization. performance
