so plenty for brief months since questions. call. time you I’ll for call, our two been and your It’s less thank morning, Good QX comments of than and keep my Tracy. all you, Thank leave our joining
to report revenue following technology. impact growth that wireless the to QX due of in comparisons returned pleased XXXX, to XXXX, sunsetting the XG monitoring principally are of We negative year-over-year in our
XXXX. XXXX quarter behind year-over-year transition QX us, QX the first modestly margin of XXXX, growth QX grew providing since the revenue With over
the LTE past, required increase in of XXXX. monitoring mentioned next-generation XG network we’ve wireless provider customers of replacement systems. in sunsetting remote upgrade an wireless new legacy wireless the As to wireless equipment in our This upgrade sales technology to drove
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monitoring, that or at and total over QX typically, Also, $X.XX gross Reflecting on monitoring monitoring XXXX. hardware. annual ARRs, aside renew be consider sunsetting, events flat approximately upon setting because recurring margins such double revenues, in the as hardware unusual impacts revenue was of service those offsetting we million to expiration. Acorn’s plans Note on XX% monitoring revenues revenue are
The of return to trim us ago. to year our profitability, QX a loss to net $XXX,XXX loss monitoring ARR growth, net from enabled a with $XX,XXX its XXXX high
our growth our trajectory believe on achieve margin goals. is Acorn these we high on trends profitability a and Given to gross based contribution,
QX positive units were an quarter previously of a being QX our discussed. quarter impact the building second on normal the be historically, sales QX, due quarter. Speaking our into hardware quarter than sunsetting basis, strongest by higher strongest and as XXXX slowest pattern with cash XXXX to the to tends to QX first followed was this as in business anomaly as
QX. to QX year quarter sales cash and sales pattern quarter more QX than rather basis in expect QX and weakest to was and a terms do likely So weakest XXXX. We normal X.X% basis of cash our in were XXXX down with why very revenue building in a this quarter, return strong our QX
cash annual be flow enabling in revenue able corporate a cash expect to continue positive growth XX% profitability to achieve meet consolidated us on and basis can achieve cover we'd growth XXXX. our to our We optimistic goals, we to that are basis. If overhead business achieve
to important of million net that over become future benefit calls have on as conference as carryforwards largely it flow has profitability tax Acorn note liabilities we Also, prior operating would cash that is our and profitable. from therefore, $XX shield loss we
the business customer in few goal sizable confidence testing is our in potential terms activity field in forecasts to and XXXX of achieving trends new we Our sales annual business date leads, growth including based seen have discussions, a opportunities. on and
weather business focus severe also We on of increasing patterns as believe industry-leading from the issues, well our benefit environmental benefits our including as will business solutions.
growing of these solid industrial and our areas to of face commercial and of OmniMetrix a have challenges, ROI Commercial including labor be and rising growth costs, positive XXXX. constraints can budget in array the for impact which We have a businesses. all expect foundation fuel increasing companies high-margin and customers, goals. and a environmental industrial broad base we across pressures, solutions many
Increasingly, customers to and footprint carbon of business opportunities our We this development forward. moving growth combined monitoring their impact. as trend, see the they compelling are to remote believe with will ROI efforts attracted environmental our reduced minimize support
have and the we solution we're increase optimistic and installs also reconnected, additional voltage A/C These manpower protect many solution call devices corrosion. to lines. done their RAD. gas be Disconnect and is One This our from for requires that A/C power pipelines is really hand. risk Remote XXXX devices Acorn in for by complete. mitigation existing by created assets that to voltages need to a disconnected of which The hours overhead periodically operates
well are while this networks satellite company done connects devices. to truck as environmentally trips. by manually functioning the ensuring and saving eliminates existing these for via product remotely as safety to Our used and friendly RAD devices the RAD employee The This or be dramatically disconnect reduces reconnect need being increasing and properly. is cellular expenditures
later went hope this trials orders of customer into Our some into solution year. and trials late we in convert RAD XXXX, to these
a in Energy. The in CPower also grid our response upon see program We to customer program owners operator. generator with available to participating compensates generator loads when initial making their by activity hope demand from partnership energy called XXXX curtail for
enabling allows standby operators the provide enhanced brownouts is of response, periods turned help grid Standby or customers during OmniMetrix thus avoid generators generators. on to generators technology blackouts. provides that extreme programs relief power be efficient C&I automatically to This demand. electric residential supply rolling for new and designed demand for and grid available to have demand response deployed are added energy it
these XXXX then and initial grow We coming begin the expect to see with programs in years. deployments in
profitability roughly added and the monitoring our of Importantly, solutions response twice for monitoring endpoints. of traditional our the we control demand expect to value deliver
of growth opportunities. electric fund prevalence power of near-term trends our as all well to severe positioned of continue flow. vehicles grid, pursue and no benefits operating a which business of QX weather secular that lack other to XXXX, to as corporate in the in We will events, put power debt positive well to growth of generation increase power with approaching monitoring $X.X is remote an with addition strategies are million external we In aging standby organic closed control. potential opportunities new very and investment cash, the XXXX benefit should Acorn believe cash business supplies, electrification and further increasing longer-term, stress grid of on
continue We opportunities. bolt-on evaluate to potential
accretive and do our in deals or be our be to we have opportunistic our the Fortunately, for that flexibility public business unfortunately, come have would and and space shareholders. down to private evaluations benefit
for Artko feel hire a Finally, March has a a are shareholder next Coast, and I our and benefit Capital. his a Peter experience the Peter the the is starts power in Coast we to which committed who and that we market and growing to Also, on he West we said of generation. Board, were backup did Acorn leadership. we in We sales our week. past have new Rabover looking shareholder, to a manager, time jumpstart background confident help large long will West recently added from Director efforts
pass that, the With back and I’ll Tracy our for operations. insights financials on to call Tracy? review her the of
