Dev, everyone. and you, good morning Thank
carve-out from Before the on pre-spin Embecta Therefore, the have the I had meaningfully that ended and like results principles, and April XX, financial that Embecta's XXXX results ended for periods results comparable. standalone not for on are three three community would nine-month financial results the during BD Embecta discuss periods financial company. were investment XXth, nine-month spun-off do been was as to XX, not financial reflect operated the a of public accounting I June and and Xst based XXXX, periods June and XXXX, what June would remind the
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of and the stand-alone expense as Turning the in increased certain decrease company. marketing compensation the combination third quarter period. period. R&D Embecta selling to million. due GAAP to quarter million interest year admin of XXXX by prior million, to to and of driven a headcount, by both advertising million, of in lesser $XX in of prior in driven approximately zero of This increase which of net factors, timing income, A becoming is attributed which year a due costs spend during in that separation it the to of publicly spend the to is increases the include: $XX increase XXXX, $X fiscal traded The in approximately and million expenses approximately million incurred to and in third approximately $XX an and an $XXX.X and a compares compared decrease benefit was totaled $XX.X extent,
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XXXX, cash June equivalents, held we and approximately in $XXX $X.XX debt. approximately billion of million XX, in cash As and
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that with are thoughts our incur to approximately incurred in we during Here, expense, be million of continue QX. unchanged, to expected as expect half to roughly $XX expense
me adjusted gross margin, our that Finally, margin, EBITDA raising which, to are we expectation. adjusted like to from previous takes
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associated over well to we to financial a As margin driven In expected Dev quarter six the is second to as as as half low completes XXXX at we expenses months increase our margin strong continues from primarily operating expenses, fiscal Our in closing, final to some turn well adjusted gross XXXX our due remarks, remarks. would adjusted I complete be guidance R&D margin updated the company. for low-XXs sequential this QX, imply for would look my of like primarily with QX independent to fourth to call time, QX independent prepared an during by: with expected first decline positioned forward, the to a XXs. very That additional fiscal sequential and as expense, exit in And an incurred company profile which year as additional Embecta up a standing be Embecta EBITDA with
