include measures corresponding to the adjusted net second measures included with that will measures income, commentary closest issued My Michael. announcing reconciliation basis is you earnings of non-GAAP was EBITDA the the and adjusted these full earlier of today. quarter A reference financial GAAP margin. non-GAAP our adjusted Thank in EBITDA release basis press
year and telematics by revenue services X% in three software to prior The revenue the we systems As profitability quarter, to with consolidated of increased second due and on increased we pleased as fleet solutions progress up management provider. software acquisition of revenue our $XX.X for and to the our product Michael Consolidated are services. an subscription transformation SaaS over the sales. as X% especially $XX.X contribution Synovia recent non-GAAP mentioned, from services subscription down continuous a sequentially quarter decline the was global million, year-over-year million, XX% our our as acquisitions, revenue making increasing results well to are and period expected due part driven the in
quarter of year. In the the our services LoJack million, revenue double was second almost from revenue subscription QX last $X.X
for services provide as our well represents businesses, services SaaS UK our entities business contribute Italy the in Our three to expected expansion LoJack strong as LoJack to recently software a and recurring and revenue aggregate now are LoJack continued acquired and subscription business. of Mexico. These Tracker foundation subscription
base XXX,XXX year. subscribers XXXX August grew period to unique as quarter the to million same last in X.X global subscriber we Additionally, for approximately of the XX, compared our
from to subscribers fleet telematics new acquisitions, and our added recent addition also services, management we vehicle subscribers recovery solutions. In international stolen for new
of as remainder beyond. We subscriber through progress expect and to base continue building the on we XXXX fiscal our
to MRM Telematics in X% quarter was XX% Performance as business. down as and telematics reflecting systems revenue second principally expected, sequentially with our as revenue decreases in product million, device Now network sales. the year-over-year OEM turning well to $XX and
the and to which categories, sales OEM top extent, we was product the lesser these customer a of XXXX. loss a For acquired Synovia former customers Caterpillar few of in to our a April mainly our of customer, decrease largest isolated
year-over-year. for attributable year-over-year. this for was and the second to quarter, which decreased Caterpillar, products XX% product revenue Network representing The million was category revenue OEM a decrease $XX.X
next from deliveries Caterpillar customer family. our revenue mentioned, of second million products revenue. to quarter, while with preparing Michael in largest As of is XG our generation LTE-based shifting including XX% continues consolidated the Caterpillar end-of-life ramp $X.X product devices, our representing to be of
over to We LoJack related upgrade expect scheduled QX the this as slightly year, previous LoJack LoJack UK Tracker lost to international product quarters. from LTE two in SVR of XG with next even significant a XG customers were consolidation through by and the flow telematics of the of sales delivery pickup licensees sales this up CalAmp. to field revenue order X% for customer over including Mexico Legacy the
manufacturers, manufacturing our expected facility transition to and the benefit completed second suppliers down up expected continue from in from and XXX quarter, December. improve basis comparison contract be was last our managing we also points which the as prior margin of integration in acquisitions, Consolidated the closure to of to about margin gross the year. complete the is U.S. recent to quarter approximately in slightly of performance is our Gross XX% while
towards margin progress to meaningful revenue EBITDA Additionally, as our progress we and we term expect achieve towards gross make long SaaS margin our targets, targets.
G&A second mentioned of recently general, GAAP percentages were the deferred that percentage OpEx approximately haircut In our and XX% increased revenue as and respectively. last due the I the higher of XX% expenses accounting and R&D, purchase marketing businesses OpEx, acquired XXXX quarter. in expenses of X%, adjustments from or fiscal a revenue basis combined In revenue as to sales quarter with
As begins revenue. as and fully will to integrate consolidated a we of revenue we our the OpEx our percent decrease from normalize acquisitions businesses, expect that these
was and percentages non-GAAP X%, revenue quarter the a for expense R&D, G&A XX% marketing XX% for as of and OpEx sales respectively. On basis, and second
we of of loss XX% net to quarter for loss R&D, in our revenue basis compared basis percentages the sales year quarter. full million XX% GAAP organizational percentages The respectively. the charge net per to to And loss and XX% reflects revenue the XX% realigned G&A basis expenses net per in as G&A be recent X%, expenses and fiscal quarter. respectively. structure OpEx X%, sales increase to and $X.XX we R&D, be incurred acquisitions expect share a of and the and XXXX, and For in marketing and non-GAAP share as marketing expect or of the we second due $X.XX $X.X The the was restructuring previous $X.X million or GAAP as GAAP
margin share was increase diluted primarily adjusted for of the of high last income $X.X million adjusted $X.X was compared quarter. net or compared adjusted and with the performance. with margin the or and an to improved Non-GAAP EBITDA guidance, in fiscal $X.X income in per diluted at sequential net $X.XX of as in EBITDA revenue to reflects the of the million X% million second share million The $X.XX in second non-GAAP quarter EBITDA our first per $XX.X quarter. increase combined quarter end Adjusted EBITDA margin an XX%
EBITDA progress towards meaningful our margin target of performance XX%. represents quarter's This
quarter, I At of and cash quarter-end. $XXX and fiscal securities had end liquidity of total on we assignees aggregate or million as outstanding details to marketable of the which $XX.X the provide our total notes due assumed Synovia. which position and million, sheet carrying additional will million some second our now the with of debt convertible of our in of was represents value acquisition coupled of unsecured amounts the $XXX factors balance
such and quarter the reflects for in Net stock-based as loss our fiscal depreciation, changes items XXXX, well certain cash as of was working activities generated $X.X which as net operating adjusted amortization $X.X second of million million, for in compensation capital. non-cash
period net of consolidated Our was receivable chain of our turns at The the inventory our X.X days the $XX.X end second the buffer representing performance. the quarter, stock million, aligned inventory while increase end of supply second accounts and total representing $XX.X approximately average collection balance was XX at million with in build to of is quarter times. inventory efforts to improve overall annualized an
conversion last cash the XX Our at second was to the end cycle quarter days of XX quarter. compared days
end the million $XX.X at revenue million the of $XX.X was to Additionally, quarter-end balance our compared first deferred at quarter. fiscal
along the partially quarter, to our loss other tax attributable income credits with R&D is second we offset $X.X items. an For pretax which by discrete tax of recorded available benefit million,
$XXX,XXX the cited that For current last same an for tax for recorded similar reasons we income quarter. the of year, benefit period just I
of our and remaining any other remainder we material do to federal credits. to taxes not the changes due XXXX, operating our For fiscal tax losses available expect cash net
Now turning to outlook. third fiscal XXXX our quarter
the a and million. range expect increase million $XX to quarter revenue to We $XX between third consolidated of
tariff outlook third reflects Our momentum increase are continued cautiously our systems and our managing transition. mitigation efforts. SaaS across we the with quarter businesses ongoing our making revenue supply product by while through customer We sales telematics progress across an to in remain due transitions combined encouraged LTE chain business
per to be the non-GAAP $X.XX share the the of range line, At to the share. income in $X.XX of we per to quarter $X.XX diluted third and loss expect net net $X.XX in range basis bottom GAAP
expect $X.X We to in be between million. $XX.X million adjusted of quarter the third and EBITDA range also
call will questions. some to to With final that, I turn over back Michael before the up call for open provide the we comments
