everyone. Good afternoon, Perry. Thank you,
For approximately revenue, million related the revenue to to the the $XXX,XXX quarter, contract license million, third $X balance with of $X.X of and was due revenue revenue revenue. product
second, were for the the sell $XXX,XXX; and to April we product XXXX development and another the to all customer built sources: portion components of contract first, came able our from The XXXX virtually April recognized for Ragentek revenue contract. X quarter with of of $XXX,XXX we related we engines customer. about revenue In we million comparison, on shipping revenue began from recognized revenue $X.X it of to last projection
$XXX,XXX. resulting in revenue negative Cost a of of million, was gross profit $X.X
the wrote-off MEMS incompatible million $X.X Class with die our During quarter, solution. we that were worth X third of
profit April the customer, we negative $XX,XXX. On gross of XXXX had
Because Although, been have good had comparison, gross the license $XX,XXX no $XXX,XXX, QX. function $XXX,XXX. positive experienced negative in had issues, $XXX,XXX written of of of gross negative gross have contributed volume. and profit In was units Ragentek royalties in profit had and profit was profit a previously Contract they product yields the gross a quality off, we low gross profit. revenue the and
our of and XX. was development the Third reduced outside reduced by stood $X.X of quarter at workforce At the to a operating completion The large compared in our million, the reduction since nearing headcount was prior were of caused expenses QX, in XX, it QX, headcount XXX. our end we end contract, ago At year the other in OpEx we XX% a quarter’s reduction ASICs were QX. $X.X and services, and was million. quarter spending third on
to For or share. loss $X.XX million a $X loss the quarter. $X.XX million of last or $X.X net compares quarter, third per per our was share This
quarter, was $X.X third and used used $X.X million. cash million. with ended the with operations cash equivalents We which compares third cash of of million We second cash ended quarter. the in For the prior $X.X the to quarter $X.X in quarter million,
During million facility million facility, Lincoln we a raised available the we million $X.X and the Park announced should long-time raised from it. we an $X.X to shareholder, the $X choose remains that Park third quarter, we utilize on from April. in from Lincoln investment
expect and that a access million, $X.X fourth customizations have quarter. we expectation from Lincoln receive to cash additionally, cash that carry into usage for and/or capital the So facility, our with will equipment the us cash balance QX. we Park in the at have we we the And customer payments lowered other rate, to significantly
back talk to XXXX and go a Now, the like contract. I’d April for minute about
signed, the program, toward $XX If forward development recall used would $XX a payment If we to million the was made be be to to agreement moved the million as prepayment that failed with refundable customer when would perform a the If ours purchases MicroVision. customer. keep. of the would program, may our the components. customer You they million the future canceled million to $XX obligations, be $XX the the
we as completing point “Contract repay did a might $XX sheet perform. Previously have the where the result it The classified a is to forward. as as development we Current move passed of Liability”. our failure $XX the the balance Fortunately, to the of million the portion classified program “Other And for on agreement, Liability”. now was have million
a the the prepayment. portion XXXX million in to of paid be credited As cash, be of the components will customer, a invoice the will we invoice and portion April $XX ship against
ships. MicroVision applied per License a unit unit on until is We And revenue. payment has each be is the consumed. to $XX customer payment as the prepayment will payment toward been payment will that million $XX in cash. that million be the record it Additionally, Royalty If used, our entitled fully and made
customer, that over the which had we the prepayment the of disclose quarter, applied next revenue X will application of be Naturally, This the be months, our against about future. that’s QX The will disclosed of prepayment the end know be over XXXX $XX the in you timing the of XX-Qs orders in from many subject we to amount file on the should forecasts will of QX $XXX,XXX to footnote the be based XXXX. that we XX-Ks on amount of the at will to million the future want change. we be to we and Based orders have to in million the invoices and invoices. estimate the of the $X amount and
like update give you to and on XXXX an I’d Finally, backlog revenue.
September to our in XX, product relates April XXXX the backlog we At had of orders $X.X customer. of backlog. million All
As the do of million last half and $X the XXXX. to on call revenue, from that customer we the we million currently that from not between be product expected over last said XXXX see change any revenue $X We XXXX for April guidance.
in we QX million indicate Since shipped to see revenue quarter range. quarter. is our through $X.X do $X.X million around shipments million million the for to that of would since the in $X.X $XXX,XXX we in total third that we revenue XXXX would to million, $X.X fourth So $X.X be
call before the over to the questions. for Perry back turn now call comments some to I’ll opening
