Thank Rob. you,
on start with a Slide review Let's of X quarter first results.
exchange revenue price year-on-year. organic First X/X quarter in volume, the past X% XX% of reported broad-based. Approximately our up growth from foreign came the resulting million rates revenue was we taken subtracted The increases to organically Changes revenue growth performance XX% year. by impact X/X of driven of in of remaining XX%. growth, in $XXX have with was strong revenue the
and driven reflecting was higher XX.X%, in increased expected, first points chain, costs and pricing increased margins. our better chain. Operating through expenses to margin by XX by Adjusted and operating as year-over-year, to getting team Gross EBITDA supply margin our our and share. offset hardware and our income year-over-year. from down basis more per expectations, was a revenue increased quarter improved $X.XX operations product higher Software the and return was primarily than product $X.XX was margin in by year-over-year, XX investments freight success of supply recurring XX.X%, Net basis margins gross per down revenue by the software driven lesser XX%, earnings points to a basis extent, dollars expense increased and, down XX.X%, levels. and XX by normalized lower share points strategic partially
strong versus was first build cash XXXX of $XXX quarter net reflecting from year operations capital and The remain supply difficult performance working strong Cash chain and our this flow a in near inventory payouts as and recurring following plan year-over-year cash XX%, free even continue environment. the Our strong, progresses we grew the revenue as as in $XXX X revenue Deferred dynamics capital growth working business objectives. million. remains in will we very our to our continued million that was in was quarter our underlying down result flow incentive streams. flow expect
Our net to around $XX declined debt our million over debt in quarter, net the remains adjusted ratio and EBITDA X.X.
ARR aggregate trends. X. review first revenue Slide XX% in and organically. XX% more to was quarter now Turning up detail in our I'll up
streams software and year-over-year XX% with X%. Our revenue nonrecurring hardware growing up grew perpetual
construction, hardware growth geospatial strong was agriculture. in performance driven and civil Our by
revenues America offerings hardware growth software. Our perspective, some with were hardware North software geographic Europe, our XX%. up to growth up as revenues From contributed perpetual bundled XX%. In a are of were
the Asia up rest of Pacific world and was up was the X% year-over-year, XX%.
metrics working X, negative XX-month follow. the and we our in the but the of deferred to represents and down from good continued going Resources approximately a all norms. Research environment. in Slide continue in ARR of be our development. or we Net grew of basis modestly of Supply software backlog, well on still on in historical while XX.X% growth Next, backlog, progress very improved digits a and levels Utilities development working Of highlight ARR year-end in approximately despite X/X made the first during our was and with above sequentially. around inventory Buildings chain our capital, inclusive in in into quarter to investments but dynamic and was teens trailing that in mid-single the Geospatial and above, Infrastructure, executing be key billion constraints well revenue, build transportation team the quarter. some challenging R&D million XXXX revenue, $X.X $XXX nature, constraints hardware Organic
organic an Revenue strong and reporting was was Resources was and both year-over-year, ARR driven row. Geospatial basis for and number in an to in revenue Utilities America driven in South each quarter. basis and was up by United and and an States. survey teens our showed basis businesses, improved up up basis. XX% Construction now organic Europe, up organic strength turn the an of high of growth a the on on was strong the continued in additional Slide Revenue Infrastructure and progression in XX% for in Civil on revenue up our quarter Buildings third Building X organic segments. transportation organic XX% was ARR on by the a agriculture areas. mapping in X% on Financial detail in revenue performance in Let's organic growth business. results the
year. of revenue which when believe we to the will new models enterprise this transportation and continue business product competitiveness and of on good mobility both development conversion improve progress made software business, is our a progress on to our We recurring launched in it later margins
project growth in ARR to segment in quarter. the momentum continue margins improved our We fourth and Transportation in
now XXXX. to provide X. I'd outlook for financial Turning Slide to like our updated
High As impacting we that highlighted meaningful across earlier, markets world, are, serve. current rates of demand impact Rob of end the developments reducing strong remains signs inflation, and for interest rising our the don't the demand course, war broadly the are offerings. in Ukraine see these around sentiment but we
Our us backlog gives offerings, hardware growth through of backlog levels of and revenue balance $X.X billion, in reflects historically high the of significant visibility which XXXX. our recurring
in With We chain optimistic guidance. through this talk although availability into will year. increasingly of I'll improve that second we updated expect continue half backdrop, the see to XXXX, supply are our challenges component that we
results will have trends. the for revenue both message that our of of Our so dollar The the all U.S. is divestitures balance key first for announced earnings of on focus ARR, and and recently financial organic the strengthening impact XXXX, here improved. outlook our value I'll organic the
organic reflects $X.XX revenue midpoint by of EPS our are increased organic of XX% guidance our an billion EPS has revised range updated to $X.XX an to XX%. We organic for with forecast That revenue The range with million to midpoint view raising $X.XX by $X.XX outlook $XX of $X. new the of a growth of billion.
We are raising our to XX%. above ARR outlook growth for organic
in where segments strong be that moderate mid-teens quarter first the in our will and be in backlog remains XXXX. and and is is our organic mid- the Infrastructure reflects expected and expectation the high single-digit high. range Buildings outlook year growth to in revenue the organic to growth for demand from full XX% year Resources and Geospatial very Utility growth pace Our against
currencies versus in in dollar ARR the see our outlook by and major organic retention quarter Transportation take improvement and euro meaningful our to upcoming segment the growth impacts grow the significantly low on that bridges of will X year when this for The presentation single-digit other the through organic initiatives table with the of the divestitures. exchange changes appreciated rates Page our improve days. fourth expect hold. has The last and our U.S. We XX
the our are revenue where outlook we Assuming that last from impact estimate exchange remain million. our approximately now, they rates $XX of on
the Infrastructure, XX% XX% the in XXXX in approximately million. that expect our will XX% will impact is and $XXX divestitures revenue by Buildings and the revenues We of close in second quarter transportation. Geospatial, and in reduce
As points of gross $X.XX the for This will the the reflects our in changes inflation majority that updated full guidance view more half. billion full pricing $X.XX be the billion. than a improvement revenue We to half. margins in we offset is incorporating now impact actions exchange result, coming basis XXX year are the with that of our second in taking approximately to year second recent divestitures expect and the up rates
in of Scale XX.X%. the year. Connect investments this we adversely impacted margins subscription present margins points transitions margins these year of the full by ongoing as are a to well and as range assumption for acceleration XX% operating our for strategy is ARR. of support approximately be In the basis outlook factors outlook XXX has of that making the headwind to a our operating increased and aggregate, in to Embedded will Our operating
year transitions Our full will exchange approximately the in quarter of recent presented in the majority $X.XX. impact $X.XX have divested the trends. outlook outlook subscription a of result, by The reduce unchanged businesses, will and revenue a about our substantial of to per $X.XX and the up year full on by range earnings for ago. what divestitures EPS margin makes the divestitures a from resulting is share rates impact strategic changes Hardware a and as impact investments foreign of will revised $X.XX, not EPS ARR meaningful we
business XXXX both margins. we our divestitures be more will ARR the will accretive expect software More post divestitures operating to strategy and Looking and our centered growth on mix beyond, higher. be that of and will revenue platform be to strategically, and our
from for investments cost unchanged. Forecast equity income net and is interest
million. will not dynamics tax R&D capitalized our passed on meaningful disrupted cost rates, payments. the costs our tax timing adversely purposes, chain balance our the R&D we view legislation on the no continued of impacted second half of permit If only From patterns approximately guidance rate we impact our and income a range levels are R&D the of the Congress for approximately upfront capitalization deduction expect tax and inventory this then tax modestly XXXX our cash non-GAAP seasonal a that year. our few the XX.X% the normal This free forecast be Our that to flow cash The $XX flow have year. issues performance A will take with book of has will that reflects the U.S. that to in quarterly will grow cash of of project be expenses. perspective, action by equal Note stronger has outlook the net is to the words increased cash supply for to business. flow XX%. in
quarter strong. in impact we second would divestitures we unusually second of largest absolute expect normally to that the is After what expect our the this quarter quarter not down recent which quarter versus and While be was slightly revenue revenue, the of movements, currency year. second XXXX, be
quarters, expect and recurring Driven fourth perspective, to in second second gross take second consistent Following and increasing be our then reflecting revenue quarter higher margins third gross will higher the gross points mix, as growth. margins expect increase and the the basis From the through increase quarter, we effect. and second expect the sequentially we supply to of a with chain, half. impact price the revenue approximately by improved prices and year-on-year normalization gradual first quarter margin with pricing back divestitures. additional versus we realization in XXX to half be half the the quarter even the for actions in year per We earnings be importantly, first year. share remainder of ARR increased the quarter below operating back double-digit the the of confidence approximately the Rob, the organic compared XXX XXXX points drivers the per half earnings in of half to you. first the half, the second progression we will second basis the share in EPS Most of to second in XXXX be after higher forecast our of year year software margins the growth have of and
