Jason. you, Thank
growth In period a based $X.X growth revenues $XX.X year, year-over-year revenue by period and revenue basis, line XX% last transaction compared transaction based XX% GAAP year. was to had originations. to up revenue approximately On our to as last top We were million, GAAP the continues driven the terms approximately service primarily ExtraCash performance, ramp. QX non-GAAP to same significant year QX base period same total year. prior representing last of compared up same operating the banking product XXXX, million the compared growth versus was was which year-over-year XX% approximately approximately in year-over-year in
We to ambition mentioned product think the enhancements and fan account step in the engagement. Jason throughout experiences, previously, additional an ExtraCash and drive the primary year spend We continue growth this which we substantial as revenue important transaction out drive integrate roll status members. term in recurring our longer opportunity to is our with of believe to towards winning
engagement seasonally efficiency a service. existing from key slower and the growth reduce as as plays a the in of member of terms as ExtraCash demand trends, of tax engagement. both perspective itself top out for This refunds QX trend terms funnel well In is
investments and product largest such, and during the cycles holiday attempt to our to we summer align which marketing year, demand and are As peak the initiatives season. throughout
a internally the the variable performance, of address our primary the associated I'll Next, as economics. well drivers profile our this margin helpful used cost profit. indicator as portfolio. direct broader metric non-GAAP as ExtraCash drivers of recap metric, with health credit our This To unit of key and our is product
timing Further, performance. advances note origination changes From our non-GAAP stimulus secondary variable in unrecoverable the of QX. we'd early these total the volumes, revenues. representing XXX function decline continue scale points large period-over-period requiring of decline a million to rather late in operating swings This of additional large margin of this effects approximate changes that impacted For for primarily which margin relative total XX% XXXX and is to XXXX, about overall credit drove origination. the perspective, quarter, a allowances was impacted represents our by the be basis than a non-GAAP in to of profit higher approximately relative $XX.X
We forward. to expect going noise moderate this
see a We performance in versus similar Day XXXX about average. the of versus XXXX's points of QX quarter, basis XXXX's delinquency XX QX basis strong consistent saw rate decrease average XX XX or continue of average. QX In we performance improvement credit X.XX%, terms to and with point an for decrease
So again, from very strong portfolio. performance the
total short performance loyalty and nearly contributed of even to with Our experience That of origination our in environment. the the current duration extra very of base five million strong our member demographic target time. combined underwriting across credit our years $XX the
markets to newest and technology benchmarks, variety effectively capabilities is a that us of performing line manage our risk in growth historical with vintages and a are Our our in expectations I cycles. which testament unique and to and allow believe
Next, it negatively an operating. gross increased our was not we're strategy. spreads something we're monitoring which expected overall with we've fixed given a as impacts our size concerned is per though trend, at about average it's variable consistent and engagement seeing it margin member closely, tighter This charge origination we're
thorough on Further, limit better structure to all We driving funnel drive the of an of needs, our vendor cost more serve we we evaluation the to which conversion our as a as savings remain yield expect second to up help longer-term building and expansion economics increase efficient lifetime their contributing half As curve, value. and committed state we can cost ExtraCash we stack, in and a grow. margin the year. can and retention, the bring the members engagement unit we increasing profitability front, of variable up picked broader of
operating XXXX. for expenses, approximately QX $XX.X QX XXXX to in increase $XXX to XXXX advances during compared to attributable provision primarily QX million approximately the QX Moving approximately for million in an advanced million volume was $XXX unrecoverable increase totaled in from XXXX. $X.X to The million approximately
was we will discounts we reductions total of volume, 'XX. leverage increase million this processors, $X.X continue efficiency generate in with was of fees $XX.X As sheet, also as for and volume growth our item. as increase remains volume totaled in previously our advanced supporting $XXX here and origination QX It's cost processing mentioned, due for to from incredibly $X.X by by compared to incremental important line servicing as million, the to strong. significant to primarily associated volume quarter. origination of In of credit volume just and million approximately approximately XXXX, efficiency savings the performance Again, percentage million the receivables point to the attributable our a total balance driven out QX offset fluctuation price grow, this
approximately $XX $XX.X XXXX million QX for million marketing acquisition spend and for Our approximately compared to totaled QX XXXX.
particularly believe given We costs and today's acquisition to continue our have relevancy that inflationary amongst in the grow of efficiently, value the we proposition we environment. customer the lowest industry, can in
us we X.X transacting total market end to of population quarter, million growth. drive of a the for members, to efficient had substantial As of a to continue monthly member the
giving positioned months, new payback deploying we case the up can referenced and product discipline aligns higher months. period marketing to additional our Jason This value and while to a upcoming marketing. to outlets, us previously engine. strong and marketing drive strong a for position Overall growth million by by our on based outlook presented of that I flex If in range for execute we and see XX we're our down maintaining opportunities terms as return in In profile. ability This With to traction of function the earlier. development on in acquisition our million our to investments CAC LTV with we feel product XX between well attempting or further to approximately seasonal expecting the and spend initiatives, spend, align summer engagement, our periods invest the member is dollars for exciting that growth, initiatives incrementally into of to year, demand and our $XX creation feel uniquely particularly marketing we're a of capital plan. $XX scale expected mentioned, the of positive market we
of investment us In alluded to consistent earlier, to considerable believe we growth mode as in EBITDA, future scale. drive we're adjusted up will that Jason still terms set at
Our hiring focused are next on enhancing our products business. and building core generation the offerings our of for investments
ARPU us investments the allow loaded specifically, year. strong and members, will bring next several value our of of further and penetrate more front increase part robust investments into our TAM More offering years. more a to deliver the hiring most cost with first these expect to We over our other fixed the we growth to
XXXX drive a of was EBITDA With expenses. leverage one-time and includes the So million, we're QX approximately from million, backdrop, much that a leaseback $XX.X operating a which margin loss of expecting negative approximately year. net adjusted perspective, calendar with $XX.X related more to GAAP transaction throughout non-cash number
shares have our million. where our $XXX.X XX count. slide March of we our outstanding share detailing a XXXX, diluted As investor visit fully was Please website
sheet. balance the to turning Now,
growth prior the business which FTX million and us in capital equity the had a of As public after we January cash of million the the of $XXX additional closing reminder, as million XX, combination the There's capacity public had our organic XXXX capital to equity raised approximately and from Accounting the the January. of with $XXX.X from March new that transaction for had pursue opportunities. to further through cumulative the on and $XXX in going balance cash added is flexibility Further, sheet. approximately this of we we our significant. raised million marketable of added capital going provides investment times the relative in inorganic of expenses, securities Mark approximately five $XX inception received to close
a to free and growth, well have profitability we under positive scale execute without that currently as facility strategy significant we Additionally, business. our warehouse facility, our to Therefore, of capital. believe equity amount undrawn achieve any capitalized credit credit additional deliver the and our to expand we're we cash and runway flow capacity need on significant ample raise
revenue million to and $XXX total to to outlook, for turning year. year, Now for are between our be the continue operating million we non-GAAP we the which expect reiterating $XXX
to year throughout we as enhancements. in returns investments the growth expected from product realize our marketing ramp the our and expect We
the margins be our terms expect about continue In compelling XX% a us the opportunity the that, outlook. of We've very a we with accelerate strong beyond. over operator Q&A. macro XX%. is we throughout gotten of our second and margin, it to the growth our rest of that variable for range I'll ahead to We Overall, for to of and tailwind signal have pass the start believe non-GAAP on environment And prevailing quarter, the we're the business. of to year excited in
