the XXXX, expenses Thanks, In the transaction-based Kelly. cover up revenue XX% I'll cost quarter. more million, Forge's give $XX from as last year-ago quarter and the from reductions totaled strong Forge's total time quarter. less let's to today's from the up of XX% line details profitability.
But second quarter well as about first, results
year-ago quarter, reset. from rose continue with amidst in XX% less the from expenses recorded continued revenues the renewed XXXX. revenue QX million up the marketplace continuation trough from and investor over jumped the great XXX% of quarter. last quarter transaction-based confidence reached to $XX.X million, of the Our Marketplace recover Total improvement marketplace last revenues reflecting $X.X
In addition, while European are still traction early, business. revenue starting to gain our we in
to our levels.
Meanwhile, nearly historically summer full million take X.X% the our moved given As QX quarter, volumes Transaction of and in $XXX year from slowdown the a QX, prevalence experience XX% $XXX rate XXXX a quarter million second reminder, bringing quarter net we holidays. in the volume during to to for purposes, the from modeling X.X%. vacations in third for increased year-to-date
in on QX, we fluctuates volume mix depending any to previously of several take In trading net take complete large and the higher drove period. rate lower As which were able rates. given trades, block discussed,
at balances roughly see end to quarter. can cash $XXX balances $XXX up administration end of QX, spikes first fees investment custodial activities. customer million totaled custodial the quarter. million in million, Total the prior from Our at the were the cash related $XX.X We flat meaningful to of
assets interest $XX.X flat billion, the total million QX, to quarter. end expected custody both are remain yields. rates At While seek custody current under last higher were decline, essentially rates of were to X.X and to driving investors elevated, accounts
was to net expense improved and This EBITDA quarter to as a million primarily $XX loss $XX.X operating loss million, attributable million to was improved non-recurring in the and $X.X revenue Second compared revenue quarter, second quarter-over- of declined last a to charges quarter. million first loss loss $X.X due adjusted legal expenses QX. quarter.
In to the quarter lower non-recurring from million compared declined $XX declining
last net Excluding one-time quarter of million expenditures $X.X resolution of used $XX.X matters, $X.X to million compared was associated cash quarter. million with legacy the in the legal
in and the our As such timing-driven annual the perspective, payout QX the quarter. corporate $XXX.X cash assets. the deposits year XXXX.
Cash, the flows, at in million fiscal bonuses as respectively, was last payment XXX as which deposits, end of of excludes weighted quarter equivalents million first and shares, of the a shares in June our outstanding neither first cash, these includes XX classified of second used housekeeping of XXX Including restricted $XXX.X total number of shares. insurance million loss and a as net count compared as QX, reminder, million our average cash cash annual at million million fully compute half of ended will recur $XXX.X our at our in to share $XXX.X stands quarter.
From million diluted in of basic $X.X other the $X million This term to half term to the quarter current and cash was compared
XXX QX, loss average million estimate weighted modeling a shares EPS basic For common position. purposes in we for
reduce to we our expenses our actions previously path accelerate to have As profitability. mentioned, to taken
Our $XX.X in headcount-related expenses expenses. savings, other million in $X.X the million estimate million against actions severance we charges. annualized excluding Of million will and $X.X savings in one-time generate approximately $XX.X budget, in
Our current post we actions, approximately our to reduce expense XXX to headcount headcount XXX. and at expect sits
As assumptions, our Kelly on mentioned, expect we we based which, have our reach path internally to profitability, to XXXX. in modeled
assumes modeling total that remain enacted flat post our Our headcount-related relatively spend cost will reductions.
that growth organic business.
If one We reaching operational sometime improvements into combined we breakeven extrapolate were have in the X driven marketplace with over scale in are forward and revenue growth incorporated investments we the alone. models outlined, the to technology as making build past our productivity, the EBITDA adjusted project based months, Forge XXXX global expense also on a assumptions automation, and by previously efficiencies, of projected
believe change, a making on back and models are brief productivity, we our While we to Kelly trajectory taking it to and that to overview assumptions we for questions. market over are based to hand before are our achieve turn targeted it necessary that improve steps the growth investments profitability.
I'll subject for
