thank our join and today. the taking all time for to you Adam call Thanks,
volatility, continue our As quarter results Adam delivered expectations. were results mentioned, drive teams business. record and our of success and the geopolitical macro strong the to Despite our financial above increased and first
business our stream, returns was investment our another stability demonstration strong our quarter revenue our This and strength of of of model. on
As with sales, improve growth. Adam visits systemwide discussed, continue same-store sales our KPIs and to strong systemwide
are U.S. and and at recovered Rest or levels above World. of have pre-pandemic AUVs across Additionally, the
X results, Now facilities franchise for our current discuss and our detail the financing will more XXXX. QX I discuss some review outlook of the in rest
by a franchise driven increased increase First was revenues merchandise and XXX% in equipment quarter million total revenues. both significant million from $XX $XX.X to which and
units XXXX. revenues sold base million. quarter increased from to XXXX XX% was new net XX, the increase growth XXX million increased record net of XX% X,XXX to QX sold as franchises March of XXX was First XXXX due global which sold franchise of franchises total March sold by in This XXXX. of franchises X,XXX $XX.X or which to as $XX.X represents The studio our from an a total franchises versus new QX X,XXX sold franchises XX, increase during
In of X.X%. addition, revenues sales global supported were same-store by franchise
year. related of Additionally, quarter reinitiate we plan marketing COVID-XX these from studios and made as mandatory this decision rollout marketing fees recover systemwide to the we the to during programs to marketing strategic but fees disruptions continue the delay
In rapid $XXX.X to As agreements members' declined for I've our to streams we our sales by our of franchise upside last sales to model, agreements case Australia, dictate component of the systemwide receive with and first and our fees restrictions, Global million monthly said segment levels strong profitability systemwide of typically $XX is an productivity. In our the systemwide with variant million flow in of driven fee in driven the that and with most our minimum were increased us FXX's growth risks allows studios a monthly franchise in revenue U.S. quarter XXXX. In by regions. sale result sales as World, from with by XX% visits. we run the related the return the increased This markets. the were XX% capture from increase contractual increase our derived to strong they XX% systemwide contracted and World majority in franchisees U.S. generation. asset-light our strong ROW revenue, was in to U.S. U.S. before, in U.S., our reoccurring franchisees. make. the This systemwide closures ensure associated both in global that a visits franchise first driven growth increase fee, XX% visits. year increase the existing studios COVID-XX-related the fade In of revenue reach equipment rate restrictions increased continue in a from footprint are systemwide in business to franchise These visits XX% systemwide this to Omicron regulatory The XX% of and Rest and ROW quarter and with sales sale in every increased of health the additional year. cash with and reoccurring Rest paired down due with as pandemic the and the particularly QX and XX% systemwide sales variable
share market COVID-XX-related space. continue market Australian healthy and restrictions. the the XXXX, boutique remains During very period comparable we fewer experienced far take a The in to fitness market QX Australia
share As in and have trends restrictions Australia pleased lifted been COVID-related the of have today, to QX-to-date that improved. I'm
our which sign earlier is fact, in a to last for to we is month, life get back X incredibly was that our It in-person teams in-person this normal. the APAC In conference returning finally events held franchise for rewarding for together years. first
equipment million. prior packs delivery the XXXX primarily as X,XXX the $XX revenues equipment pack as revenues the equipment $X.X by revenues to increased World was increased XXX% increased by merchandise driven XXX% revenues approximately increased million world $XX.X franchise March world to in and during revenues franchises Australia from million. period. Geographically, increased XXX% XX% revenues XX, March an XXX increase increasing XX% Australia World million. revenues merchandise the revenues $X million, deliveries. of increased revenue XXX% were revenues The increased in to merchandise to million quarter XXX XXX% first driven First and million equipment million quarter. $X.X of of U.S. Rest sales. increase revenues to from and Rest by increased $X.X equipment franchise quarter of and increase merchandise million million, $XX.X by XX% $XX.X XX, higher franchise XXX% The to equipment driven of U.S. to of to $X.X XXXX. increased Rest $X to X% million. $X.X of to in World to and strong sold year Australia with and number driven
on and XXX a During franchises the quarter, we sold opened net basis. XXX studios
X,XXX of XX, X,XXX not open studios. multiunit franchises the but sold with backlog experienced most XXXX, not March these to As concentration are of but the franchise yet vast our over had yet sold we in highest over studios U.S. open attributed majority partner. with The
demand highlights XX% approximately owned XX, market XX% multiunit March franchise were of our of as the strong sold XXXX, XX, from by franchises As approximately franchisees, 'XX. This up for December opportunities. multiunit of
due year, and to XX.X% cost of to to our was $X.X XX.X% by compared a increased by in a more and $XX.X period last million was to shipping flat in due Equipment first in to and year margin increased with royalty equipment bulk compared million of mix quarter. Moving profit merchandise basis savings XXX% profit XXX to profit year. Equipment roughly gross partially to in Franchise $XX.X last quarter Gross quarter world storage $X.X increased suppliers gross $XX.X reduction of this driven the to last the to mix compared driven increased year. to year. higher XX% Franchise profit gross million. the margin Gross prior arrangements $XX.X profit. packs. the approximately million gross compared the compared related XXX% margin revenues XX%, of higher revenues million same million to to first last to points, costs gross favorable
SG&A standardize to XX% brand grow first million awareness. Adjusted The $XX.X growth support prior margin SG&A margin from the year We our to million compensation, $XX have $X.X in higher ago. to increase gross our $XX.X to compared the world million due quarter improvement in pack was earlier. million to XXXX. mentioned our to compared increased margins the EBITDA XX% also increased in pricing to EBITDA period. increased globally. infrastructure personnel, the investment XXX% margin increase in marketing reflects adjusted quarter year was primarily QX in stock-based expense and for was the Adjusted This investment in a EBITDA
ended quarter the our to the balance of and million with sheet. credit had We cash we Turning and approximately equivalents $XX approximately $XX facility. on revolving million cash drawn
revolving had under XXXX, can which we needed. As capacity of we our million facility of expand million XX, another March $XX by $XX credit if approximately
flow during drawn expect generated credit balances We facility. on cash repay revolving allocate outstanding the our the year to to free
As remains with us believe capacity. our and invest this we've growth noted comfortable fund flexibility and as result, we strategic strong several liquidity a in initiatives provides we're may revolver to capital current strategic We our structure before, and our very priority.
Moving facility. on to the financing X franchise
Adam X our the process we to facilities innovative our maintaining These franchisees agreements. help announced initiatives about obtain off-balance the excited financing standard today. As for financing will of mentioned, we are streamline financing new that economics sheet very strategic franchise franchisor while
expand developing fund affiliates access we new approved this million costs studio. facility will will franchisees Fortress over the Corp. with first $XXX up facility, to year of announced franchisees The with Under to of debt of to to access with with have potential associated time. Credit five The to $XXX a the capital XXX% is committed million provide to project lines facility
well the guarantee a receipt to of size. and of for will of period time up a part royalty establishment XX% As defer as facility limited as of total for the agreement, fees FXX provide
facility we AFTER facility. franchise the was announced financing second The
aimed and at franchisees. and This in is for for commitment believe As facility military the this becoming These an will a interested is by traditional of may is in funded be providing XXX% in experiencing the form will interest developing structured as provides small Adam servicemen our Entrepreneurs. SPV project hardships We mentioned, of highly an comes franchise XX-XX million FXX through Forces financing. $XXX facility women affiliate. FXX JV studio. and a AFTER franchisee to a associated between qualified FXX Armed with with a program business capital an pack. and contributed franchisee costs obtaining FXX in stands and be loans This an establishment retired the or provide extremely program becoming attract veterans up This world financing fee to compelling for to new separate who
to on moving Now guidance.
We that on today no impact guidance based pandemic increased to related are significant performance. providing we're the or assuming have the uncertainties visibility may we worsening materially and that risks of geopolitical
sold approximately expect approximately We we year the and adjusted back guidance million X,XXX million; weighted $XXX year; be between of full the $XXX net between half of to and million. $XX of those revenue X,XXX EBITDA openings of expect year $XXX full prior full million; year to X,XXX; studio year free cash our $XX initial full cadence million full openings between franchises and the compared and towards year net of and flow million $XX
the to reconciliation for in measures reminder, quarterly most form the of comparable a included earnings that, a of remarks. turn and the report As these and indicators XX-K non-GAAP in our With Adam GAAP release. to our over measures our closing I'll of call definitions are
