morning, our SPAC then good year and our our balance discuss I quarter XXXX outlook. on and Tom, everyone. XXXX Thanks, on fourth and will full year touch merger fiscal results, update briefly following our you sheet Today,
first results and as all make full to channels. in sales have our continue three financial year to of results, Turning we our are solid pleased XXXX the quarter we progress fourth to delivered across
million, million compared quarter, For to QX $XX.X last year. of the fourth total to in XX% increased revenue $XX.X
in grew across increase revenue of sales wholesale our and revenue respectively. to total continued For channels, million. most their meaningful three by all outpost which driven by growth XX% the impressive year, in The notably XXX% XXXX growth our channels, XXX%, was and $XXX.X by full our
give will sales I additional details Now on some our channels. three
slight QX First, was direct-to-consumer To $XX.X with year to to against most a XXXX compared unprecedented pandemic. comping the result demand context, X% year. million revenues stuck compared were XXXX. a The revenue were the increase some up direct-to-consumer home when period our consumer increased at to prior during XX% million consumers give fourth QX quarter $XX.X COVID last of in
coffee the subscribers. year full million, channel of to our $XX.X by million in direct-to-consumer increase XXXX, XX% principally the or to clubs number $XXX.X our an For due increased
XXXX. grew in compared XXXX XXX,XXX base end subscribers XXX,XXX subscriber of to at Our XX% the to
Our QX compared $X.X to million wholesale increased XX% revenue to $XX.X year. last in million
above wholesale growth the RTD over bringing we ended four XX be all revenue SKUs which million. will to supply For C-store now ranked the wholesale in with or products our both to able full co-manufacturer. with drug food, in what $XX.X top total by our RTD and is the in Demand $XX.X XXX%, driven doors year XXXX, saw increase revenue well was increased our The XX,XXX million mass. in and for existing our year product, primarily we
terms, the several chain secure capacity scalable to supply. has supply production for to working been lasting finalizing which are and partnerships close be believe team increase we co-manufacturers Our and foundation we from will
the secure discuss for outlook that outpost, as of moving our to I existing assumptions XXXX supplier to RTD our we Before production the outlook. volume production want our be a additional in that Any clear XXXX co-manufacturers adding meets result will will shortly. committed to I new be upside
XXX% all with across XXXX, compared Next, stores tremendous we to in to of channels. positioned to see bringing we to and outpost XXXX. $X.X XX, the or channels capitalize infrastructure new number our for seven in Throughout payoff of have XXXX, the personnel wholesale invested company-owned year. increased we increased continued I’ll where stores $XX million million in and our omni-channel eight demand throughout remained growth channels for well our and of total $X.X QX to ensure outposts, Overall, XXXX, discuss compared within our products approach and the stores. million opportunities $X.X revenue Tennessee to million Throughout $X.X a million to opened three and revenue demand our Utah, Texas, eight outposts on XXXX heavily that last in throughout growth total significant XXX% to company-owned with franchise and Outposts three ahead. robust all corporate we’re
margin in last from to QX XX% XX.X% Turning QX basis of our profitability, year. decreasing XXX was our gross points
XX.X% as a as our well points For by in product XXX compared XX.X%, gross as of products costs shift, lower our from coffee and was higher came margins decrease The has RTD pressures driven in channel. XXXX. gross in the inflationary bag decrease mix basis XXXX, margins full year to at as DTC
impacted negatively to due costs increases, shipping seasonal gross addition, QX including surcharges. carrier margins In our rate
holiday during season. incurred we channels sales the Additionally, to charges peak shipping reach expedited customers products our across ensure all
to seeing. savings QX, freight, cost an material And are working We have In consulting combat taken we’ve in we multiple we identified cost opportunities with began internationally help, and action packaging. their operational sourcing with recognized across fronts the inflation firm.
take are our competitors the remaining in addition, XXXX the plans implemented Tom coming to some actions as We line product QX weeks. interfacing mentioned, of actions in portfolio. price In we executing our of these with across in over price
see impact improve P&L You will year. the through the actions our result, of our a as these we And flow throughout expect throughout will XXXX. sequentially margins
basis operating approximately sales, compared XX% of our by a as XXX QX to increased to As year. percentage during last points expenses
increased beginning XXX from drivers advertising. For walk up the increases I of will our the sales, saw points marketing of we full through basis expenses and operating XXXX. year, XX.X% with these
quarter to For quarter increased XXXX. million $XX.X fourth million fourth X.X% of in XXXX, marketing the the $XX.X expenses from of
to As year. a compared by sales, same last percentage to quarter decreased the basis points marketing approximately XXX of XX.X%
For our the million increased to our compared full of $XX.X million XXXX. The in-house to and production with XX.X% costs strengthen year awareness expenses brand increased by driven in XXXX, outreach content. was our increase marketing to $XX.X
quarter others, Additionally, in and related spend. from to similar Salaries, for benefits expenses increase $X our million lower $X.X and million ad seen X.X% of increased to digital XXXX. XXXX fourth we’ve effectiveness of the the wages fourth to costs quarter
As last XX.X% to XXX compared basis XX.X% by a points revenue, year. decreased to of it approximately percentage
million, For invested our wages support heavily headcount channels. teams, sales and the year, was out management to benefits $XX.X We’ve our XX% wholesale building within our million compared in salaries, increased and sales particularly to our employee driven by XXXX. increase significant for $XX.X to growth. outpost The
outpost XX to outpost $X.X portion compared structure included wages fourth typically quarter increased line, large benefits each salaries, the bring a and $X.X G&A the XXXX. in expenses of million, our XXX.X% we new of to to million employees is XX in opening. Additionally, cost for on as
increased revenue, percentage approximately XXX basis to by XX.X% G&A of points last revenue, compared of to X.X% As a year.
XX% the increase as period XXXX. This corporate expenses. growth G&A infrastructure, for was $XX.X across to multiple G&A year, business including our as same channels, full direct driven million million, in including to new $XX.X to occupancy well our the the and For support related investments of in technology increased compared for by outposts,
the EBITDA manage measure I’ve use internally. important that business mentioned, our is just addition an GAAP adjusted to we In to measures profitability
to the loss of XXX,XXX in compared XXXX. For adjusted quarter, was of $X.X EBITDA EBITDA million a adjusted
EBITDA spending compared XXX,XXX grow primarily year to For sales adjusted rapidly decrease scale and to the year, increased our a million multiple we reported to $XX.X earlier. due was of This channels.
touch SPAC briefly our pro we’ll forma X. Now, sheet on following our balance on merger February
As be channels, reminder, $XXX proceeds, million raised we coffee the but balance cash funds outposts of gross all providing three will growth paramount Black capacity. our Rifle our sales sheet. of to fund a to and increase helping $XXX of and growth company-owned within our us specifically continue roasting million These our
XXXX. share on will I for our Now, more details outlook
we in year, million, full expect the more which revenues shared generate our we when expected than to QX For last $XXX is of year. we of slightly forecasts
opening in inflationary combat productivity XXXX. We well pricing be outposts and initiatives company-owned Through XX we to implementation also as on pressures, XXXX. XX EBITDA in slightly to the between positive of as actions expecting plan adjusted are
and While business demand. very to meet seeing feel build we demand a given to capabilities material needed are to our it’s building us invest to critical the brand is important the highly profitable products, infrastructure and we its for
sound will in been once and investments we our in foundation constrain choosing cash short-term. business for model that result flow is make levels the will our of has strong EBITDA to built. such, believe We growth As profitability our and are
it on some would throughout guidance, we While color we be thought providing not XXXX. quarterly provide cadence to helpful are
QX be and to initiatives. the schedule drivers sales every our margin that the of expect opening first, quarter; The during in comparable year. growth of the will sequentially the acceleration QX gross phasing XXXX. of our we to channel; that three rapid third, pricing quarter accelerate weighted primary back Specifically, and second, year, is heavily half revenue On and the especially our outpost of wholesale of the product the growth growth an RTD profitability, are: fourth revenue to
for XXXX year. over that, as benefits. increasingly actions we while sequential deliver be will growth, our sequentially QX pricing margin throughout EBITDA the turn revenue XXXX productivity each negative, the improvements gross expect With the to to I call improve will and questions. like quarter operator Just adjusted we during Similarly, anticipate
