and for discuss We and full raised year. strong joining good to guidance our afternoon, really the financial our today Sean, quarter everyone. you us appreciate third results Thanks,
and public a by year we second for track our record established begin company, financial as have the execution pleased I we As strong sound performance. am sustained, our
having expectations. our internal quarter third results exemplify that Our firmly outperformed
a Let me take the a items from to moment quarter. few notable highlight
First, is all which the strong. of pandemic-related accounts remained of major at underlying growth cases, believe the by growth to across we points distribution. of net supported When noise, three-year compound metrics, indicative rate, business deliver health annual continue our sales broad-based double-digit growth we and sold strength without looking
top line Second, one. the largely growth a strong story behind volume-driven our remains
CAGR was three-year Our XX.X%. volume
similar of brands depletions our lines. both and respected Importantly, showcase our demand our for power growth. the speaks This healthy well-known and consumer luxury the to high-quality
Third, profile. on-premise outsized gross top benefiting margin continues and growth, to line our both provide
of take category. portfolio Duckhorn for share growth consumption both a Perhaps our In per scale accelerated off-premise supported dollars rate basis, in fourth continues occurring importantly, $XX units. the to distribution. the growth in supplier to another point. depletions types luxury me sold And continue over on-premise data at U.S. IRI growth is fact, and proxy and brings gains accounts segment the most seeing points remains of as is looking three-year sales, growth to of shipments, as on-premise when on deliver mid-teens posted When for in three-year basis. growing wine this fastest-growing my a in CAGR that at by business time This an having off-premise on certain of a are of me we a point our double-digit bottle pride this
considerably X to faster for the unit per Deco grew dollars growth to and $XX over market. up luxury growth Winery Winery robust relative Growth portfolio level broader faster this similarly, top of one our in units. U.S. per within mid-teens was brand, XX also both brand the driver the wine the of both primary segment the dollars brand our bottle fastest-growing and the in #X $XX and over and U.S. As Deco among Xx the bottle
margin we continues same Lastly, a modest demanding expansion to against the all are growth and the operating be that backdrop driving robust line at delivering highly time, environment. top
grow adjusted team top Our we expanded of margins. minutes. the burdened year will in a all bit adjusted a also know be expand not gross versus to I'm important was public I environment to profit to fully execute costs challenged Lori discuss line, margin EBITDA a an prior detail by through what to when this make able very few apples-to-apples an comparison. and point. quarter how margin but the more in only company like for proud would
going to dynamics. minute talk on-premise about I'm take channel to a off-premise Now and
of As noted, slowdown channel. was seeing and our the momentum growth, primary our in driver no are a we on-premise within
In a accelerating of and sold points three-year metrics; fact, seeing are we three looking on all at CAGR, accounts cases, growth key distribution.
returning we reset Our of well. off-premise on-product proportion to to height Interestingly, good not off-premise baseline to toward of experienced to historical the velocities our sales. the resiliency our we are the of and off-premise to continue historic ratio of upwards on-premise the part off-premise XX-XX strengthen make the the growth the during pandemic, back of continue on- we progress Overall, business. of to because strong which as has
the the tried on drove an and first become wines or favor accounts consumers In sold is It luxury consumers CAGR we strong solid And double-digit year-on-year that during old wines channel. rediscovered points across cases, a and growth quarter, evidence time basis, our among of the growth. off-premise the we three-year pandemic off-premise. observed to for loyal steady Turning our distribution. that and in positive
which our high independent supply to out Keeping lines, brand continues Through of in stocks shot believe cost for quality common appeal our avoided execute one-stop elsewhere, expectations, see and between in chain with we've of for our be cost balanced accounts is glass and proud fine model am global of luxury portfolio considerable growth where entire disarray a of our organization I times speaks strategically. was of we hard today. and in luxury work robust as with core demand the well which our challenge and one increases. the strength wines. the to pace line of especially level inventory national as can Our and levelled company, we include significant like growth how shortages defaults team's tremendously any
we practices strategically drawing great customers, diversified vineyards or has that Our partners highly we and out our dedication number and benefits of ample, meets ensure provides level we wines. management our enable from our will nimble where our to diversification the produce gains. our to consistent needed the allows our uphold that have built on continue ensure supply with both growth grape and lines tenured chain, trade quality renowned To this growing to believe vineyards first enjoyed. and a supply high continue consumer focus that this fruit the state luxury are distribution that chain long share resulting We market luxury more flexible to including upon quality of a and practices of appetite than high supply wines for other and reliability growers source our the enabled specifications XXX sources trust refined sold to us
AVA our ability us offer their the manage to lines, as but along access recently allows us our exciting grapes, clear notably pleased trade of continued with of not provides with performance platform, Decoy. with XXX In coupled visibility the the to and good of our the support high purchase we to our sourcing Central affords in greater California approach have our Coast. diversifying when to This third our well. sight spirit and cost luxury shown diversified high-quality scale margins, stated with pricing goods. of portfolio production the line Additionally, supply and quality in access partners This our most XXrd capabilities into very marks to closing, our in us wine to combination it acres the In fruit vineyard we ensuring the of year-to-date. momentum vineyard the only quarter purchased int ensures state also of the our growth I'm our
that. there considerable fastest-growing macro ourselves, and wine. the of luxury that in we opportunity challenging of continually just the remember make believe irrespective are segment solely is to However, we and doing industry, It wine we environment, focused in on remains the important
average. XX-year commitment we we into sustained is to experience, growth provide force believe luxury of than which our history, we any environment. faster future the continue each supply sales and combined standing made our wineries portfolio curated exceptional a unique quality. our the industry with strength our The Over to thoughtfully brands, of and have luxury wine for Additionally, but have a and our in a growth, elastic chain all offering macro business DTC the durable will stable
second decision well-positioned XXXX in wine quarter on are greater I'm for this discuss and fiscal raise to we me year that, third performance it over our to in confident backdrop, Given year XXXX that With for to detail. updated guidance to demand year. and time growing our our Lori the fiscal the turn luxury capitalize let guidance
