quarter reported and year XXXX Good morning, This morning, you we us. ladies for and full joining gentlemen. fourth Thank results.
press a XXXX. On highlights today's detailed and will part to some XXXX XXXX. commentary for release, a exciting outline As the we the quarter, expect plans review I of on provide then investors our letter reviewing call, for XXXX and wrote from of what highlights our have our to I
in join wealth its Before relevant to have who wanted Finance a experience, I April. We're predecessors. excited us. finance do VP, to this, and however, Welcome, Sardinas, roles us of served joined Harris of having brings I these LX Carlos as introduce you Technologies Carlos Carlos. at beginning accounting at the and
for impending our address late XXXX. wanted and reviewing Before I our quarter, restatement to filings
the had public, came starting leadership our an finance change. -- as and turnover lessons throughout public As year, moves company. you young in concerning are the know, change And some stating part the auditor gained engagement. These of since of auditor we made coming from we we a
some to changes. and financial thorough review Our of make a us new auditor asked our reporting X-year did
and certain reviewing new required auditing auditors determined Upon statements, financial items our reported previously our XXXX statement.
in recognized post-IPO, with to there was reclassified. stock a Specifically, and was revenue we goods issued incorrectly liability recorded XXX, of and accordance to be ASC which needed not AR and related under cost sold were that
restatement These filing the XX-K items of as and delay we the as XXXX in corrected drove as our our results well XXXX early quarters. classifications these
are We file hopefully today. working XX-K to our
concerns Now transparency and our and Carlos addressing have oversee on reporting. audit and to that these our we brought we're hope to financial accounting, finance improve
strong revenue million which unit $X.X XX% XXX% in fourth had restated our strength We and $X.X CleanTech saw last year. growing product We quarter. during quarter the of to a versus lines, sales the the million up made
significant adding industrial progress from the XX industries. aviation, customer These customers educational also on We energy, customers. came front and maritime made by
reasoning in behind the I'd -- you to seasoning our Next, year. remind about expenses the like shift compared operating to last noticeable behind
product line. As penetrate repeated expected market year, new of sales further our we the educate said at the to customers, and customers throughout and CleanTech existing potential activities about we in identify the strategic significant to marketing our investments IPO benefits and make
positive of attracted orders new than investments a while in attention pursue future. foundation [indiscernible] in anticipated, us of these that strong show a million-plus returns, of we these opportunities XXXX, throughout pipeline investments impact the early confident the One remainder of on trade we sustainable win next growth building the Based was are that will these show fact $XX months. near XX participating the a major several and over strategic the for that to initially for helped the us profitability setting more
from last losses million margin reduce this higher operating the year side, to and On year. gross revenue helped the improved $X.X $X million cost
share per million decreased from to losses to improved $X.X million, loss net our from $X $X.XX. While $X.XX
up our success. which us capabilities set from will X,XXX-watt expanding With CleanTech believe, LPC help we to of will I our respect system, market. differentiate milestones, numerous for cleaning products, a further had the future at we XXXX, introduced the end During high
Enclosures enclosure leverage reduce AI risk Robotic significant will to significantly. safety ability We several simultaneously, This to efficiencies programmable reducing the also [indiscernible] developed have to tasks CleanTech important and risk. the Cell providing handle
at Navy industry-specific Force. We leverages market, has a as also little for with and having we'll launched both Department targeted million bit addresses products talk see And that DefenseTech surface smaller sales the and and system (sic) the Fonon $X.X our maritime more laser conjunction ideal DefenseTech marketing in our military X Defense. ingrained seen product smaller success market and lines, in and MARLIN specifically CleanTech It and ] vessels. the Markstar applications Technologies. and MARLIN. Army, [ Air in addressable handheld about the million cleaning early portable total cleaning for for industry, is is We crowd areas. treatment opportunity efforts this this $XXX of
relationship product technologies, it also LPC and subsidiary other reorganization our will sister customers. will up Corp our contractor, arm. occurs, semiconductor time, its XXXX, becoming publicly as In ICT marketing DefenseTech making plans of which and exciting Fonon Fonon government on on of Technologies, In manufacturing industrial majority coming marketing the as for transferred a to Corporation. Fonon stock same Fonon, with serving a bulk sales subsidiaries. the is military and subsidiary our to Next, set additive Fonon focus sales, monetize restructure to that and largest to owned its laser, company the of our manufacturing continue a including Fonon's and those the At markets LPC I'm to of portfolio Corporation. discuss line Once development LPC we months, both the focus traded for CleanTech, shareholder. while going with Photonics has to organizations IP expect Laser
materials the SaberTech our serve as a doing laser see This to would forward. basis high-power move as relationship our this of expanded of by into with In that keep cutting technology which last happened warp relationship opportunity An for technology, will enables us another and cold example total under of turbo as very the companies -- for Fonon when synergistic licensing we laser. October why market our things are cutting otherwise of we Fonon's line piercing product our addressable and appraised you plan other summary, for as developments shareholders, any and we with expand we way -- to the market. a heat
to look year we As exciting XXXX, foresee ahead. I an
in distribution announced far, technology a partnerships. So expansion we our significant and
for distribution the During with quarter, and distributor, linked our industrial -- products Fastenal, first industrial market. laser protective the we for equipment large a the protective personal cleaning agreement
brings companies demolition integrate as Brokk our a of for is technology X of as contaminated we with large the will one provides pipeline sales, technology robots nuclear More great repeated machines, for and where need replaced a become robots. decommissioning, these which these machines recently, leading announced to we frequently. remote-controlled us partnership manufacturer is that be for into a Brokk, This the advanced deal
side, Incredible lines On and and will Logistics, to Supply product and DefenseTech the marketer and leading these a ISL, our and government signed forward. bodies. LPC distribution or military of the distributor expand going agreement help sales We this a Fonon accelerate with sales and believe
this release Moving year. to introduce CleanTech new several exciting systems. upgrades we roadmap, our next-generation the to and to plan expect latter, next-generation Starting we product with the products
setting key materials will cleaned. wider while system, that our in reduction range enhance Some the power be new of expanding will other requirements models upgrades. enable the include the system be Certain of customize and a ability of form the believe support. be can frequency experience Ethernet Higher-power features with factor, come sales and WiFi a user power to IoT-ready lower also will the We systems and next-generation and funnel. this
to Returning SaberTech.
will that the sheets will of with can automation, and material Titan, the production to rack will system. system. load metal customers and Titan XX/X our their ready We With into have cut new automatic them The shifts. systems FX, come to metal the for this large-format sheet loading unloading revamp unload Titan run pieces plenty cutting a system
introducing that initiated with all the catalytic responds automotive motor the be market. MarkStar VIN. Senate requirement we will can a our law. engraving initiative legislation, aim with have to sales vehicle will California Bill shops by of XX, legal converters features laser This -- into to and our at within ensuring repair Finally, and the reinvigorate system targeted This requires directly which VIN. systems this passed recently manufacturers to marked capabilities explore adhere incorporating we By capability, the specific potential complying product's to automotive easily untapped this and new on capitalize legacy
efforts, with distribution our summary, we have and sales technology products, $XX of estimated marketing million. and an over built pipeline partnerships In increased and new
we to up sets all it and results long-term bodes well this improved believe this prospects. and While in won't for close XXXX for our medium- year, beyond growth us
remarks prepared now We move questions. to my concludes can for That today.
