for Eido’s and you, Thank everyone team today's call. joining
XX% our reflecting growth billion XX%. quarter Our the first GMV fourth acceleration revenue strong $XX.X of up million, an first quarter increase achieved was We quarter year-over-year. year-over-year, for from XX% of $XX.X a percent
and GMV revenue by Our new primarily upsell and increase in was and all geographies. merchants revenue driven growth across
the of Tickets and billings area our vertical. most was doubled year-over-year this having nearly travel within growth, meaningful
is a we comparable growth a vertical, Going these as growth for year. forward normalized view expect now the still of coverage-related but in have active more area an this fully periods of level lapped we
and quarter, merchants by electronics money primarily addition, activity. new upsell our and food, driven transfer each during In grew categories the
categories improvements still an growth, these first negatively we’re categories in of saw during closely. is quarter, the rate encouraging this are our and that decline We year-over-year our impacting home the while retail monitoring in trend general
largest of in in our first category was the as growth goods this year-over-year that fashion One saw categories, XXXX. compared luxury flat in and to quarter we
sneaker down shift goods sub-segment. slow events, and continues some within spending believe to have seen in merchants merchants, services towards across a consumer types from position and we Within we portfolio business us a And this Getting all as as category, broad-based we away spending that durable particular in our benefit. and well environments. live same-focus of brands remain on diversified positioned our of spending of helps to luxury
From standpoint, the and quarter. approximately U.S., geographic largest by each grew XX% APAC and a our during high-single-digits EMEA region, improved the
growth gains. from our outside and Our regions United from environment the demonstrates of market continued the previous share positive revenue returns States,
non-GAAP profit quarter improvement of and gross margin the XX%, to of fourth XXXX. XX% margins, our XXXX in XXXX first quarter on Moving quarter for was from gross consistent the of with the first an
improvements benefit goods our in the cost ramping to of savings of impacts core machine-learning from of offset significant models and other by continue We merchants. new
on As analyzed a best may profit as a quarterly an margin basis annual on reminder, is fluctuate margin gross basis.
were a Moving XXXX million to operating for year-over-year. non-GAAP $X.X the expenses, total of expenses X% quarter first decrease ,
XX%, revenue year-over-year declined non-GAAP as to model. XX% business leverage from a Our in reflecting the percentage expenses of operating
$XX expense were million. As XXXX, meaningfully first our quarter and budget result in pleased rate our first below of reductions optimization quarter of expenses that of a I'm the further
and marketing was evaluation optimization of This other driven administrative of and systems, non-essential further expenses. seasonality tools of expense, and by primarily
the of remainder these expect XXXX. of through carry to throughout We most savings
range approximately $XX to quarter. For modeling our anticipate million of we the QX per purposes, expenses QX quarterly within
Adjusted EBITDA a quarter for year-over-year was first negative $X.X the improvement. XX% billion,
We basis making have decision year-over-year accelerate our to profitability. on adjusted a third since to quarter improved timeline our consecutive for the the EBITDA performance meaningfully reach
healthy maintain positivity addition, into this free flow very In we a cash quarter. cash flow we to and were excited continue cross model to
position. working continue towards strengthening free cash our will flow We
cash amount to we and sheet. debt. balance accrued and deposits the approximately ended million. sequential with We interest maintain accrued $X position. deposits million increase on the first strong of a interest And represents liquidity zero Moving in the we cash sheet, quarter This very $XXX of a balance carry
For same year. reference, in sequential a this million of the from $XX meaningful comparable the a period from decrease prior improvement
believe and balance business strategically liquidity with environment, sheet over opportunity positive an underappreciated advantage Simply the are we is liquid itself. capital present put, provides confidence and and flows And strong we an cash this our In asset. ability generate that us in flexibility strong deploy the is balance should our the term. to position long to
that our improving updating QX on In shared we outlook, call. terms our bottom-line previously guidance of we're XXXX our and
the we millions further $XXX to the between $XXX of and changes material XXXX to no macro of million revenue anticipate environment, the midpoint. or continue million, year full at for $XXX Assuming
and EBITDA, of going our our our from now $XX of between range. believe first forward, to disciplined negative Moving and that managing XX% the we approach OpEx to initial as will year an reductions improvement result be adjusted the adjusted full in $XX a business EBITDA million, quarter negative expected million
additional look always, we As leverage in to our find expenses.
continue will our on the and health results. broader we of macroeconomic landscape to continue Due our the consumer the monitor our guidance to approach environment, spending and merchants, and We ecommerce performance the to impact responsibly.
continued year shareholders. Overall, remain deliver for we're outlook to and value the our our amidst positioning the our results landscape. We our business, the long-term to prospects a ability challenging of with about for and pleased growth, excited
first take the Operator, please. we’re ready question, to
