Jon. you, Thank
financial results So XXXX. now for our the to second quarter ended XX, turning June
deals during year-to-date stems previously noted product-related quarterly included that first-party our first-party revenue recognized revenues the in previous we’ve inventory X purchases sales. period As and we our made from net where calls, inventory
revenue Jon XXXX of of financial and going presentation this in on of release ‘XX. second in those towards the Net quarter statements progress our of exclusively forward As XX.X% from will be a in the $XX.X GAAP alluded basis. we million continue to activities, as to elimination second quarter $XX.X million make earlier, to the the decreased
subsidiary and net to expect revenue a associated convert reductions primarily sales wholly-owned JV unprofitable the was the product The that end of with an revenue revenue JV in we in reductions with into to quarter. current in one due to decrease before continued and another related customer
the ongoing of past JV the to expect end the generating third wholly-owned nominal revenues our from contribution quite the for year business, customers. successful We for headwinds revenue been certainly consummation of the as tailwinds to and during and XXXX, sub, revenue a the become within quarter have partnership. fourth quarter, of soon quarter added pending Further, new our profitable as quickly of which both the we new
seasonally has the calendar to However, continue year, been of QX XXXX. is end contribution the customers the from throughout a accelerate as we the quarter revenue course current over especially the of expected and accelerating new to strong enter
million to loss in recording revenue. to due increased improvement $X.X the contribution activities comparable to as loss to executed an loss to of the loss as year expenses compared million our is in ago cost $X.X second to EBITDA operating of scalability operating related The ago the commercial well QX. of partial the increase Adjusted adjusted as beyond. $XX.X by in in million an optimization primarily certain as compared incurred in savings an reduction quarter driven million operating realized year previously period. reduction million unprofitable decreased EBITDA well improvement materialize and that relative to balance year of the period our year-over-year to initiatives the reductions cost conjunction the the aforementioned of we of in well of continue severance loss part and related was of warehouse The in increased as $XX loss $X.X period to $X.X legal throughout consolidation adjusted impact with decisions The EBITDA Operating loss in expense costs as activities, was a included million result in to of expect our sequential losses. from the operating
quarter. these of the was rate course losses of over The the reduced second
for Moving to XXXX. our outlook
in progress million seen based XXXX steady our As Jon demand on year-to-date, and nearly strong our we’ve new with as unique to in date. of $XX CaaS and today for offering, noted, bookings
cost our growth and We business, versus in aforementioned to well utilization customer of the of materially it of enhancements a sales assets. as noting existing as part revenue our the to both time. bookings serve agreements, through technology both the due over historical fulfillment-related profitability increase as ability to worth the via expect the well to drive is bookings data lack new customer our improved will driven have that of as is impact on to which Further, positive both
QX our With respect recognized and cost have the to actions profile, period taken we since. during actions from further taken benefits
forms only One the have that our to incur. headcount taken, the benefits savings of but now KPIs During customer as of drives manner not expect of cost our recognize our brand of area of our facility shipping the through verticals. clusters And national per we our customers quarter, current we in we of takes driven to by average also businesses. organized month in latter have example reduced responsibility This profile, number leverage industry which where but data the excess cost rich e-commerce capital, outcomes benefit not not reduces is related efficiency. in assets that reorganization to other is for including improves and consolidation a we customers’ the direct the able a our $XXX,XXX of actions human which only only utilize but we’re to efficiency similar
our success more them other fervently and will We us background, solid with management training we analytical giving in focused of throughout for brands. for forms investment top world the software, to building for P&L careers level and benefit have and current work focused staffed conducive network. This one backgrounds made that performance us them e-commerce performers top-tier our vertical where of or of from a come consulting hires to provide many sector responsible our or are to their team those with on and driving equity allows new dedicated skills have members, roles highly all banking, they private next
last I’d talent like some to the of take to discuss the to the over we’ve quarter. the opportunity also business brought
us at I in with his growing short growth to of a revenue business. exceptionally a With we’re that who over both Rugs pleased us where key the capability in focus primary $XXX our had The this and from previous of e-commerce value by Shoab with to closely with hundred as we’re was data Shoab building calendar standpoint. end Rugs and while driver that was customers time that leader and success frame of role a massive expertise generate who its our CTO, opportunities a role working once to a new playing build unavailable CTO group joined a several broad customers the some technology of completed, our revenue gained pleasure years percent internal range has will over few members with COO technology the for USA a of before Khan, value EBITDA million. for we space. him should be business USA for our over companies critical create revenue of of working begin to from provide and Shoab, small most First, of have and I the will previously in the assets year development
provide intrinsic through and quality going through all we accountability and where to assets talent and press are with develop and a to that have high We’ll for releases continue Overall, required the updates organization as results future areas and us we possesses forward. ownership and now of those those flatter team capabilities clearly further. efficiency produce a strong critical in placed calls with
benefited we full ability a and business, XXXX be the EBITDA and between revenue year year and from net would EBITDA actions activities $XX the result our savings the cost new the to cost of favorable adjusted related as new million of to certain date. and customer-related seasonality QX rebound onboard business, given revenues $XX than incrementally core performance, ramp alluded revenue to our expect These to state our the be from range and all full already the further the during would and sooner benefited the we bookings positive XXXX, party presently earlier a for entities mentioned from wins projections of be awarded generated, earlier to forecasted. adjusted million of of the For customer and realization in from expect for XXXX, same-store
year forecast financial and for margin. our XXXX setting for adjusted EBITDA the also We’re net calendar revenue
of XXXX, growth excess XX%. full range revenue year the net in to full margins XX% the be year XXXX. XX% Adjusted For of compared is EBITDA to to in
operating and aforementioned Our margins benefit profile the services the and of provide expected have the from wins mix associated to the on as realize favorable and leverage initiatives, improve core that our of to revenue continue platform with we clients. realized reliance we that greater customer growth benefits cost are technology emphasis
solidity that expect continued As my [indiscernible] drive that towards results sustained That this we course completes summary. execute strategy have profitability against and over our operational the year, forward. from of we to going
to I’d over the like turn to back Jon. call
