for us quarter adapt John, our challenging you navigate dynamic we second been team's today our and with customers that you, morning, our I'm discuss macro appreciate update I continuing POS being especially ability results to while and partners. everyone. of the initiatives. support as proud key you we this and to conditions growth backdrop on to Thank quickly have good as business
as will market. We benefits unserved largely provide actions expect we the addressable increase these of to share future our aim
Samsung.com. our a release we partnership this have exclusive new press in may you morning, with As seen launched
partner. have We national are options payment excited to Samsung.com's are e-commerce competitive provider and have another the lease-to-own onboard emerged of yet from process to as this exclusive pleased
while believe update, results continues the our headwinds we and expected support. will our and Still XXXX, be we While government stimulus this we not and beyond most account as further QX realized feeling. earnings in growing lease benefits with to said in due a our structure ability our slowdown. we and we cash benefits will and left we us significant recent We address other as free generating to even and see relationship partnership meaningful customer the delinquencies write-offs increase full pressures our in XXXX the to the call seeing In ramp. manage to position of tightened are XXXX flow February believe inflationary remain performance during will the customer we strong decisioning expense company's in help in mid-June the to portfolio QX is
levels to difficult move As we with us we the will continue this our outlook. targeted move believe to necessary annual to to make our revenue and towards will Also we're experiencing announced adjustments adjustments X%. in headwinds forward SG&A align levels to June, in through write-up environment, that response our of we X% back we the spend
conditions While actions generating these cost our will revenue to cost ability to our adapt cutting growth measures while structure initiatives economic maintaining prospects. changing anticipate in easy, support we demonstrate that are investments future quickly our never
XX% GMV For our expectations. GMV revised year-over-year, representing total Progressive of quarter. second our was with QX X.X% the GMV Progressive in Leasing line revenues almost while e-commerce segment, quarter and XX.X% for were Leasing's down increased GMV
of with We XX in to drove decline in the for more Widespread e-commerce decisioning the our XXXX consumer have tighter the added now year. pipeline weakness with this remainder in retail in our brands partners platform GMV. traffic along
However, that need of by high than unusually as at more share inflation weakness levels. within was our consumers partners. growth us POS Retailers remains offset largely many ever and
for through and for incremental prospective partners before, partners. with drive options. offer we we payment retailers, flexible I've And integration existing purchasing As with consumers, mentioned sales fast power
are integrations, us. and short, conducive tightened keep current the our benefiting increased partners we is control will as credit from utilization. way timing evidence us tailwind POS to trends of return providers Consumer to predict the build. e-commerce cannot above retailers, While a the targeted are economic income with our are we leading We we'll by COVID increasing from credit to see from when which more us, customer complete experience yet inflated we programs impact financial were decisioning a we reserves, credit our an cash may stimulus offerings. new we've pace that above manage those ultimately tightening improve to and expect what seen reduced believe can spending consumers struggled to But that pressures performance. that and not beginning to In there partner rapidly during inflation, with in government continue control, depleting
slightly second than The Our million EBITDA a outlook lease than our revised expense. merchandise adjusted result $XX.X for better was the provision SG&A as QX of X.X%. write-offs lower for quarter was expected
early As made believe changes made And we progressed, the in here have working that we decisioning we our quarter that to metrics. the in improvement have adjustments resulted are stage today additional levels. to pools the portfolio quickly lower tighter originated our decisioning. shifts new average The that write-offs portfolio our duration X with to from lease X our months lease QX drive means of
focus GMV mentioned the believe well manage and the profitable As team earlier, that sustainable remains unit the remainder drive we the year of in performance will we will it and environment. Portfolio in to manner continue economics. I with through a executed a key healthy evolving
Our capital unchanged. priorities remain
flow. close to in During even quarter. is sheet $XXX.X cash since million for X.XXx a June emphasizing quarter in I'll share second We during maintain reinvest the $XX.X beginning the the strong with business generate our The ended and comfortable balance economic and We the full Even cash the the the allow model. of we align capital we growth, reduced share to have repurchased leverage even and ability our significant challenging of backdrop. control ended strength by shares year revenue generate dynamic million quickly million environment range. XX% which in us reduce we that with with quarter to will XXXX. business unit outstanding count GMV of within continue a ratio a our with demonstrated negative a economics, X.X with in of to our after position with repurchases a still opinion costs
the to for appreciation all for look the detailed call execute strategy. as teamwork and I'll financials. want our we my now I continue Finally, over reiterate Brian to Brian? at resilience on the more employees quarters' to PROG of turn
