Thanks, John. Good morning, everybody.
which in license until Approximately XXXX. new in revenue the are of a later being deferred recognition $X.X million reflects quarter, standard, earned our dues over adopted During certain we of QX agreements.
in of certain the revenue minimum our In escalating $XXX,XXX. quarter agreements guaranteed addition, total by the in approximately increased royalties license straight-lining of
standard. negative $X to on new the expect on the would million quarter the standard in a our new net, approximately $X.X base million revenue revenue to we to million XXXX. So Based today, had add $X.X from licensing impact our contract
we revenue in the of as XXXX, transition of the $XX.X to due significant result term, $XX.X result standard. DTRs. $XX.X the our XXXX million the the balance, as million million adoption our a million, approximate reported of revenue primarily QX of versus Over reductions down $XX new asset longer contract in was recorded a annual expect
international XX% segment However, that plan, it ahead line QX our should performed of and in improving expectations our XXXX year-over-year. with be was our revenue noted
SG&A a first in in were quarter Our $XX.X to million, XXXX. the XX% of $XX.X compared increase expenses first million the quarter
charges, number items, included XXXX restructuring of Adjusting for approximately million SG&A these However, special X%. decreased purchase $X.X fees actually a including noncash a and unique adjustment. items, accounting or
was 'XX in XX% margin XX% operating versus in QX 'XX. QX Our
and XX% actually be for would XXXX margin sales adjusting after versus on the gains items XX% operating XXXX. However, aforementioned property, intellectual of in
approximately $XX expense of recently-announced through it on business. track our the appropriately go aligning to cost obtain rightsizing and to are our the million expected savings with plan We savings annual forward structure
We continue our and scalability as acquisitions. expect future to able our business such, structure. a organic growth down believe be the discipline capital through as maintain of or in slightly new of interest the was Net result expense to to we
of sheet. We balance stability are our satisfied with the
interest expect $XX.X prior million in to approximately expense primarily gain, $XX a related We noncash convertible structure versus debt I'll Other the in full year to year. adjustment million X.XX% notes. a included million few from the our minutes. discuss mark-to-market $XX be income
XXXX Other decreased notes million dictates $X.XX net of these decrease extinguishment revenue in share noncash income income share per of them or share and The mark quarter. the approximately million to due XXXX. each million $XX.X to predominantly or Non-GAAP were for accounting earnings $X.X on year-over-year. also approximately the versus that per includes per is gains $X.X in debt. market $X.XX Our we
by including and cash increase per issued is release income cash in million today $XX earnings cash A press flow changes. working activities $XX.X a capital reconciliation for by cash included provided in reconciliation Free operating was flow, factors, XXXX. is press contains an driven release. our flow XX% earnings million Free share. in non-GAAP Our XXXX, free to from net many earnings
sheet. Turning to balance the
QX of we We had believe unrestricted our million John cash solid. $XX hand of is at on the mentioned, cash 'XX. approximately end position As
million restricted restricted all by securitization our of also facility. approximately had cash, We was of which $XX almost
We end to similar with are cash on our balance amounts projecting XXXX of sheet.
of approximately is securitization which value Approximately our matures in at end face XXXX. of of the an balance million at quarter. debt had million that has the average and Looking structure, we facility, $XXX interest rate our January X.X%, approximately $XXX of debt
of million mature Our convertible not notes, approximately new These in X/X% X notes if XXXX. $XXX represent the balance. converted,
the our senior term X represents Finally, approximately secured at million XXXX. in interest LIBOR XXXX loan and $XXX matures total, of plus bears
focus to balance current sheet believe good growth we on are about a our the in XXXX proactively we puts January earlier, mentioned us maturity. currently going As position and forward, thinking
to related projections questions to financial received potentially compliance notes, We show convertible compliance X-year With and conversion. through a our shares our respect current I've of in with the in XXXX. newly-issued issuable us upon our indebtedness to number are covenants few around be
illustrative example, a would remaining would about we make-whole the the end principal at quarter, shares the The first were reflecting million. amount, conversion for an at of of price XX As converted, about if the unconverted end the $X.XX. QX million have of notes $XX have been issued
you approximately related to the XX we price stock the conversion, If assume $X issued upon make-whole. million shares was more would've
this notes those on additional the an are I as based assumptions, our approximately million. clarify shares new only, structured. So XX been convertible hope example would've helps how
as such, guidance. are have XXXX We first our with XXXX that quarter and a expected previously-issued we maintaining as started was
extinguishment interest by and on our of earnings, our in included increases are line debt gain which release. GAAP the press of of of addition expense, elimination the our earnings guidance noncash the details With
talked the of options. XXXX, Finally, bit at end strategic we about a
at As the no company. update, point alternatives in an strategic time, actively this for considering we longer are
always remarks. achieve now I'll brands. we the over John will ROI closing on turn consider our back opportunities a to for However, significant call to
