quarter financial strength Operator. full-year Good neurodiagnostics Today, results strong year-over-year X.X% morning and assessment for the for by fourth XXXX. hearing and product our in U.S. particular was across and during quarter international the record fourth you, Revenue and Thank $XXX a we the growth. everyone. was market multiple Revenue demand our driven reported markets. segments, representing saw quarter million, we
doubled Our resulting expected, more of share. a less quarter. during gross in earnings quarter flow the lower healthy from during margin the per launched. was fourth the quarter by non-GAAP was during when ended the ramping operations encouraged we million XXX remain Cash expected this than the $XX.X product with of digital ear We the Otoscan than Shipments new technology. versus adoption over field. And devices year third Otoscan the was very scanning in than the quarter
revenue of discuss neoBLUE are will now products We also customer minutes. further re-launched this And our neoBLUE a phototherapy few Drew blanket our With launch available during the detail fourth all quarter. shipments. in for in
to teams allow engineering, higher changing infrastructure. to leverage are and there for common customers elaborate, position to common same a used market, to more competitor approach and our believe a will sales upon serve The our that company and in you with the unimpeded and very operations, strategies leadership, We will steps profitability and need and and serve clear ensure customers. R&D, we've that chain And and the better industry. chief the retain optimize will us access of growth. One just specialized resources a have effort company supported announced make global Natus creation proven recognized and strategies organization will our to new needed are a go-to-market and the improve the we and critical initiative. performance, efficient and ago stronger, that take by we supply functions. ongoing the operations, global weeks commercial build for specialized The administrative rapidly will and information, years, successful medical we will a be unified As This Natus in office go-to-market device to teams know, few quality,
focus customer Natus offers to and and allocation. specialized quality, global continue This our energized very markets, Natus it gross team One and in support end results The our to as a common industry the we on by deliver internal reporting However, capital truly opportunities and structure way margin efficient to that usual. discipline, market very transparency the is expect care, company represents. revenue priorities is
customer our insight channel. to supply Next, I'd into like provide some
the short, very of And inventory, very specialty stored small in inventory. channel in on supplies are distributors. XX% customer hospitals sales Our with and are customers, capital are and Direct XX channel revenue of is typical revenue little order, carries service. clinics XX% inventory. for XX% sales industry. a to is our mix XX% is small our device efficient. XX% to than the of stock is less supply markets, of it businesses of typically basis, built distributors amount hospitals clinic hospital. sales usually is international little Approximately at minimum our and and and of med approximately a sold days and to no just-in-time device supply, In inventory all direct It normally devices, result by of capital resulting our Nearly to
the announced also exit product and balanced GND. NeuroCom our We EEG line of video our service ambulatory
unacceptable based reimbursement model. with challenging performance, to coupled financial decision on GND a Our exit was
Our towards expected virtual we technologies $XX our And XXXX reflects shift reality line. to was ICS profitable combined revenue NeuroCom that the be in neither NeuroCom based exit market assessment for GND decision and product Otometrics with balanced XXXX. million. address were approximately to
past a year we is the products to for GND and field. purposely service remaining exit inventory in NeuroCom over service, and not carry managed inventory, expected be such life over does the As used the of of that repairs the the
to for investment where expect growth. opportunities as evaluate portfolio well continue our product will lead to areas enhancing profit We to as
margin. million expect to achieve an to intermediate immediate $X as We of allow Natus a through initiative, the additional the benefits that approximately ongoing efficiencies of of direct beyond non-GAAP model annual us XX% operating result full-year gained XX% and XXXX XXXX to benefit of One during target
the expect to second-half. quarter, but of in visible to the improvement be benefits during second annual reported we operating XXXX, be margin beginning For the most
efforts. the be and We teens the quarter, focus expect steadily of to operations third mid achieved be in the operating and over teams, consolidation increasing of ongoing our term, and and of supply intermediate fourth our support the margins produced and additional in by our are R&D high to chain, integration benefits will
our audits the Seattle front, confirms audit result at an This quality of completion our manufacturing XXXX. On on during the successful systems audit five facility. we regulatory MDSAP successfully completed MDSAP
FDA, of summary, and the Single MDSAP with the to the encouraged Japan. manufacturer allows Audit of business the the five regulatory a a are countries, ahead Program opportunities for and audit Natus. performance that lie satisfy or audit Medical requirements of single we As the Device medical In device U.S. reminder, Canada, including
of our flow. and market margins focus of and goal products increasing to the leading of we and the in with cash many have continue business positions our We will markets, profitability on expanding
at to the over want Directors. Natus Before to Tom Natus Schroeder I our Sullivan Alice an call Alice regular board of its and I Drew Board drive Tom as our to is turn and the our employees, refine and enhance board welcome execute review, for and financial joining are refreshment. for profitability, to of and continue committed Natus customers, evaluation strategy, shareholders. value exciting we time and to
new in seven having Natus have these directors With past three four the past the joined five independent years, joined with in Board will eight directors, of our the months.
Now, I'll turn the Executive Financial Davies, Vice over call dive for Chief to results. deeper and Drew? our President a Drew financial Officer, into
