first the Thank walk our world. and launch. first We timing for line and delivered joining cost of rest will our you, highlights our you, to to U.S. thank to take you Today, Andrew, gratitude partners like of a last the against teams finally, and balance XXXX. quarter quarter sheet the double-digit I for Andrew's outlook top I'd in results, the the year's through call. and and growth echo everyone, moment around
sales $XX.X XX% year-over-year, from net reflects net year-over-year. strong with we QX plan China. in the net XX. quarter, which for sales on as demand from U.S. shutdown up first in line Turning impact consumables, last February The by and We January to XX% in an our launch against driven of and Slide comped year sales million grew related delivered result is unsurprising Handel's cover
by grew drivers the are X% growth. primary X segment There moderated Systems year-over-year. Delivery Our behind
the Compagas First, launch Sandlin a year. strong last U.S. of
the Kobe U.S. in first Second, in International U.S. purchases the QX the anticipation was providers and shutdowns in system holding the difficult. Sandel QX related year-over-year of January comparison XXXX, driver, and of launch in XXXX. Sindel's in February a successful delivery surprise outside launch the of China; making Addressing third, and
end of On you the driver, the year. broadly at second recall, as China last reopening announced
wave a January market shut infection covet down and However, the of February. in
began Finally, the rapidly market recovering. March, in
is sold month, China region. confidence March natural, a in in in XXXX, previous as for X.X launch system purchases QX of mentioned, we delivery systems around high providers more opportunity in held sold giving of the the in us Andrew XXXX anticipation QX in international XXXX. Last, Cenveo As
traction strong performance launch markets. promising, with Importantly, Sindel's international launch date across is to our
contributes historically year. fiscal EBITDA quarter smallest reminder, sales a our As first the to the net and adjusted
outlook be This expect The EBITDA will margin the to We sales explain confidence range model to half million million us have and consistent business date to a expected raise and will in details in our and our XX% continue to to of contemplated reiterate XX% our adjusted XXXX gives weighted $XXX historical momentum see our in growth $XXX with we site. is target, further a XXXX. in to which back in I net we to our moment.
regional on to performance Turning XX. our Slide
XXXX EV of You will was and by followed net hydroficial see driven providers XX% Americas EMEA XX% testament the continued system anticipation to demand launch. Cenveo's in QX XX%, for in with year-over-year, Growth consumer growth this owners demand for sales segment strongest treatment. sales, grew holding net the driven refurbished prelaunch which to of year-over-year region consumables a by was strong growth.
performance impacted lack by EMEA's a Russia net in mentioned, XXXX. Andrew of was QX from As sales
XXXX was million, $X.X EMEA's total growth XX% sales contribution Russia's of year-over-year. net approximately Excluding
Despite to the months for first Turning quarter, in of the year-over-year. shutdowns APAC. the China achieved X% cobas of X growth we
year-over-year. encouraged with XX,XXX a touching our on Andrew in active with delivery KPIs of recovery we mentioned, Consistent and on systems what again installed the base systems, have we QX quarter March. China's connection by we As recovery XX% We in seen an sell XX. in net March. the discussed and churn we ended of in first last become quarter, increase starting Briefly with Slide are
XXXX and follow as of international X% XX quarter, for year's year-over-year growth step lapping QX note, contribution new for up would from launch drive international. the Sindel we a expect launch. first systems pattern to representing Excluding in QX we U.S. with Sindel's our of This execute the strategy XXXX Traub, to we despite trade last volumes Important adoption to continued XX placed materially similar smaller QX globally. delivery exception
of ASP XXXX to quarter primarily sold the Sandell the QX last for period XX% mix Our in grew driven of by to year. XX,XXX, same the increased compared
reminder, a U.S. early in As March Sindel launched in the XXXX.
year As a continue we systems blended increase growth have extent in we while trade-up be of to the ASP ASP full year. heavily before, expect stated will for high the the by single-digit influenced sold,
take the in system Turning FA The per installed a to our remind XX. Slide I to core consumables about future base. why revenue our business. and top the would moment strategy our chart of to excited so like the channel, shows annual we're Mass you delivery of growth the
you their revenue The getting providers As delivery of over the see, and booster grows potential upsell our We're for unlocking matures. face. productivity started one the represent system demonstration treatment a consumables treatment as promising our our placements sales base lifetime time utilize systems more just is in value, installed future the beyond as net often, each of upside chart embedded extend a the system base. installed in of source of long-tailed
how see can you up it ramp chart, MSP to bottom productivity. the base its long installed for takes On our
at takes seen. gains are X it shared quarters have before, we least meaningful As before
the metrics the per as our more growing a true curves fall we installed we expand This our ultimately left. will health using younger, long believe to base rapidly were and to business amidst on utilization footprint a system our is today potential installed over understates continue category, shifting these getting mature the and massively base and productive term. our become build As means of
XX. Slide to Moving
back adjusted was to of reported XX.X% year-over-year margin optimization Gross gross million a we which on quarter, to basis adjusted declined added of first a the or basis. inventory margin. related For GAAP XX% GAAP $X an gross write-off, on margin due
of meet the demand. resourceful growing us with the environment all volatile we to forcing pandemic, to As supply chain know, components been start be has since the
been this systems we assembling mentioned volatility. during chain have As the inefficiently supply before, means
we supply is by expenses options. the the processes will that efficient operations near-term this with stabilizing, our it in scrapping our as streamline come value term, opportunistically believe Now our but favor components in we inventory. chain are engineering materials long We does more and of optimize
On during launch driven margin lower-margin sale international points, by refurbished primarily basis the systems an by adjusted of the XXX pre-Saba gross period. basis, EV declined
XXXX expansion EBITDA part fiscal margin to of targeted to journey as our towards expect for our XX% continue margin. year-over-year XX% We gross
trade-up dynamics 'XX we work of first the half first with in gross with the launching the to with in XXXX, volume. expected Given the synbio, second half sequentially expect we be pressured the similar for the as margin of half XXXX of expansion increased
bottom million Moving to adjusted right, the a the we of EBITDA reported quarter. $X.X negative for
XXXX beyond. This, Cindi for burden given created the impacted January net As the quarter. second But international incurred associate and the inherent the gross quarter mentioned shutdowns were timing, and the profitability launch lower China sales OpEx in by in along and is quarter. QX resale our earlier, February upside costs expected with margin launch in the for this the refurbished
of of continue EBITDA profitable Our expenses growth. $X also expense litigation and to patent severance $X.X for restructuring we adjusted million included and million as optimize
I XX look only want which full moments performance, on to of XXXX. spend of repeating to QX remind expectations a bears you seasonality we our of at for business, year also our but as Slide not the the few
our compared left, of you the QX the resulting in net a net the growth represents see lower the year, sequential to On lowest the preceding sequential sales pattern growth XX the will quarter and year. QX throughout rate sales year. for
and of Cenveo's mentioned previously, seasonality. QX sequential the different. amplifying launch in As no this international January XXXX back we February, With providers holding QX is shutdowns China and in anticipation
quarter. the The against first marketing typical second due conducted quarter activities in momentum to the sequentially
saw the demand in a the Biolaunch. from with connection a benefit quarter up XXXX U.S. trade and second reminder, of million As onetime $XX.X
This pronounced slowdown summer less to trade demand. International moderate to the Sunday trade-ups. EMEA. continues spike with onetime QX QX in experience in growth, up build now momentum seasonal a due broadly sequential expect applicable across but that relatively on sector, full similar is QX's a steam, launch to is beauty we the excluding With 'XX in particularly
highest use the from quarter year. year. the holiday of promotion CapEx It QX a benefits utilize for fourth remaining to partners the of peak quarter Lastly, is and historically our many budget desire of consumer that our demand, the and dollar in
early to throughout our marketing XX. Slide for We our year, reiterate Moving which we I year. to the to as turn the how the progress sequencing investments year. profitability strategic during wanted the about subside think in
each from see of this of occurs lease in half margins most and XXXX. slide, these our support year, to biggest the the second the adjusted year On a and stronger investments and half amount quarterly feel in year. of Similar of trade sales productive show generated strategic sequencing historically results you see in QX in minimal the Our can the first the full funnel and EBITDA EBITDA. this last contribution year's generates the
cost base, sales naturally half walked seasonality fixed through substantial us for makes back weighted our Given business flow-through. just the we EBITDA a net
the We revenue moderate the marketing higher progresses. and extract year, the leverage operating of back our the year from half spend in as
contribution quarterly our XXXX. our is QX than as EBITDA year follow anticipate the we EBITDA shown of the XXXX business. We bulk roughly we the expect as generated back as XXXX a EBITDA a in contribution customary on cadence higher Important of for half volume trade-up note, with this to QX the discussed, currently for slide, reflects and similar just to
same increased and partially XX through quarter expense. a of sales our year. to launch The including U.S. commission the million I to higher in to as was revenue. lapping operating for higher leverage year-over-year, marketing basis million $XX.X costs to is will percentage $XX.X points to now primarily expenses XXX period the revenue compared last first due Sandi Selling costs, from decreased and due of cost Selling details. turn personnel-related increase marketing and expenses walk the Slide
to million an contract year-over-year, Fourth $XX basis, in quarter million professional rate primarily litigation higher to termination expenses, offset a software by million $XX lower certain a including On our including were result expenses, $X.X fees, hover of around $XX.X increase million. costs G&A partially expenses. run and service expenses recruiting-related patent continued expenses G&A of
flat. Lastly, R&D continue to costs remain relatively
million well balance platform. our to to move with capitalized quarter sheet of We on and M&A vision our ended growth continue first I our initiatives highlights XX. roughly we on and cash the will equivalents. to in $XXX.X remain remain the about cash execute We -- optimistic Slide that now accelerates
anticipation the last discussed during continue during the working in quarter we call, earnings capital As investments of Cenveo's first launch. make international to
working our going inventory. launch capital we upon forward, working With balance now through primarily to the us, expect by reduce existing our
approximately the before, As expect to we mentioned by inventory to to year. X worth of normalize X hand on of we quarter end the
Finally, our of the at In share quarter million. tranche million second April, the accelerated approximately first share count $XXX repurchase $XXX.X we stood completed at of program. our diluted end
million total shares million we retired With at per share. price the XX.X average of repurchases share last $XX.XX of $XXX announced year, an approximately
we a mentioned, been As China consumer since on strong, the Andrew These underlying strong sales XX. and March. global continue has to net implied confidence what The deliver part growth rapid are have gives for demand. shown has trends recovery Page to us traction Cenveo of the shown year-to-go
operating As value year. we to P&L, for to XX% EBITDA combining adjusted leverage margin to XX% reach earlier, expect gross deliver the I the an engineering line full mentioned and margin down strength expansion create to top
As Andrew deliver on we our mentioned, confident XXXX track commitment. and to remain
deliver launch of throughout call. to we the date and an forward earnings you double-digit marketing tailwinds. execution year-over-year our providing look next update The sustained promising, Cenveo with to to driving consumer and continue demand sector during International has our fueled by efforts, market growth, our been We
and will now gladly Andrew take I your questions.
