afternoon, Thank you, good and everyone.
in execution Jason on losses Card progress delivered once happy accelerating delinquency overviewed, level, strategic transacting performance EBITDA revenue trend engagement. a cut to of high we we're and favorably; record again As we Dave our our significantly; QX. At made with priority members; and continues our
QX, XX% during the GAAP Our $XX.X same from total period up year. last was revenue million
Our monthly base increases $XX.X driven Dave record year. quarter. period XX% which total same ARPU QX member in was ExtraCash engagement, last combined non-GAAP was with and improved our by Card growth representing expansion seventh for to million, the drove monetization growth consecutive in transacting compared revenue This our
increased in $XX.X slightly relative representing profit margin our variable non-GAAP to QX XX% to was million, which Non-GAAP relative to a down revenue, QX.
was write-offs quarter related While the margin was of in to our benefited the the processing expense, by of during this growth quarter contraction driven significant modest increase an loss ExtraCash ExtraCash which by fourth originations third burdened from provision flows, year. optimization variable
be in substantially quarter in discussion plan most more expected with variable pronounced in in we As margin XXXX, XXXX XXXX. our I'll outlook on to the specifically realized relative first expand improvement to a the improve moment, to our of
of seasonal we January The continue ExtraCash business lower losses, renegotiated the quarter expect improve and partner addition savings In effective to we a to scale. are Dave from Card will we here results for benefit X. contract significant the substantial to benefit as first
majority processing payment we move made will utilized how relative networks quarter first The the to to (ph) of also reflect money. the the [cost] we've enhancements
both operating originations business. during million positive attributable growth QX member flat ExtraCash of $XX.X while and quarter quarter, to for the The to delinquency unrecoverable We basis The trends $XXX relatively the rates primarily fourth compared in expenses. up during in improving ExtraCash keeping significantly $XX.X of sequentially. approximately increase increases million million our to million for XX the was points $XXX of Moving provision fourth base, totaled quarter our last XXXX. year, originations advances from of had and
in points higher $X.X optimization relative fourth servicing percentage to and to from This of was originations. On increase the compared fourth to the to fourth due on primarily quarter of million in to ExtraCash, the origination to QX processing quarter the quarter we volume, upside and to this quarter was in during due down related improvement structural This X.X% network totaled basis, capture XXXX. of the X% a which servicing to improved additional largely basis XX Processing XXXX. a costs million costs in costs expect ExtraCash the year. compared $X.X
the was XX% fourth spend to we impact to guidance, mitigated investment sequentially. a optimization, to creative us marketing member million our at million in sequentially, supported more invest intelligently in reporting channel with fourth Notably, been by and at of midpoint represented in ongoing XXXX QX the improvements and targeting execution. came and growth efficient $XX.X improved mix. more reduction infrastructure levels our and Marketing our has allowed become acquisition across as that quarter XX% CAC these down measurement of lower new approximately on totaling the compared our quarter and the $XX.X
the typically softest that It's for given are marketing also base, response which favorable in our efficient situationally of be favorable and in with have support worth to profitability. has rates maximize liquidity noting marketing our acquisition efficiency that to quarter moderate quarter help costs refunds hence is on spend our the remained general, XXXX, of on tax customer returns choosing member investment, first how impact needs correspondingly In we our on a QX to reduced advertising. which
typically at and investment on Beyond we QX, QX back where returns we QX can ramp in up spend greater scale. marketing achieve attractive
to or of approximately increase compensation higher $XX.X $X adjusting this fourth compensation the XXXX. cost largely decreased million increased expense million expense, our period-over-period discipline personnel stock non-cash strategic the made for this to of engineering we on million fourth or to basis, investments $XX.X due terms and our was After to marketing growth compensation the quarter compensation to relative product XX% XXXX, fourth we in quarter exercise On million as sequential In execute in a expense of slightly needed XX% quarter in to $X.X impact, expense. compared continue tight due spent headcount. Nearly around of we initiatives.
development made late on have product team, the particularly XXXX, in our we investments XXXX business and for to of the believe us first We our half are execute sufficient plan. in
further will Given to expect our substantial we component scale to our leverage business, profitability. cost base, expense of fixed we achieve is operating compensation significant the strengthen the most path that which as
million million $XX.X to fourth GAAP quarter net the XXXX, of was the largely by loss the $XX.X quarter outlined driven factors compared above. for fourth in
variable $XX.X marketing EBITDA basis, a of optimize we the improved million Adjusted continue a top-line EBITDA our loss of loss adjusted and as unit to disciplined period. margins, the year-ago manner, $XX.X compared for a operating leverage. On to in strong the fourth quarter nearly loss a sequential improve was achieve spend XX% grow during maintain million economics,
to the Now, balance turning sheet.
$XXX As asset securities of we worth in net cash the million XXXX, for us. receivables, cash, compared It's approximately cash also is pointing million which marketable of restricted our and December investments a size XX, significant had out to equivalents, short-term period. the and $XXX of sequential
net million our of $XXX million, an As was $XX year-end, of receivables sequentially. increase balance
This primarily cash of on given on difference credit balance our the origination During our we balance returns cash fourth persist. primarily to we ExtraCash combined the contributed cash. sheet between our to opposed to corporate reduction QX relied capital with other in quarter, capital that to the as expect that relative QX working not net facility fund our and the in cost to increases do
the It's our of advance then the in to the rate we mentioning have growth, high ability two has we that need achieve additional that facility capital. level profitability also and a worth without on more our aggregate, conviction term our of deliver increases to execute equity credit strategy an and years capitalization facility. solid and our use utilize remaining In
our turning to Now, outlook.
to million from for and representing of $XXX our XX% expect XXXX. non-GAAP We growth $XXX revenue to million range XXXX, XX% between
margins, expect XXX range XX% to In to to point our XXXX. improvement points of to basis variable basis non-GAAP terms relative a expand of margin to XXX which we represents a XX%,
million adjusted flow the improve profitable turn moving And expected negative We loss reiterating our a of adjusted XXXX XX% a to $XX EBITDA $XX of million, our tracking XX% improvement to reflecting target to negative EBITDA XXXX. are our in cash to trajectory also expect over to we with operating free EBITDA forward. adjusted finally, range
over now his remarks. turn our back to concludes closing financial This highlights. for Jason I'll it
