a performance reseller compelling significant in joining momentarily. recurring everyone, and driven we This flow model. and the discuss income Acorn also generated Tracy, you, announced and I'll today. with strength revenue. cash increase which revenue OmniMetrix's for another new QX value operating proposition, discipline of a thanks, leading dealer, our demonstrates business, call our positive achieved to Today, XX% a agreement by U.S. We're of Thank that our happy including quarter report net
reverse split completion including during touch X-for-XX a achievements the during of me successful some on QX, quarter. let the First,
that split growing $X on our investors. reverse wider stock the common stocks, in those of we investing limitations a the low-priced particularly makes group below to Given believe per share, accessible
growth Given financial we post-split longer-term supporting to help new and outlook Acorn investors operating goal our believe strong also while a attract our will price of our results, position, exchange. share major up-listing higher sound
we Importantly, to believe continue -- sorry. I'm
the of [ growth the our expanding growth trajectory value of recurring following QX result Importantly, of monitoring of our monitoring our sunsetting X% XG in in to -- to and model more XX% Monitoring respectively. QX rising a this customers impact continued and service base a is following revenue XXXX. year, base which XX% ] QX revenue reflects revenue in gains return in and growth endpoints, of of the normal this
hardware that our sales, performance. our about Because growth monitoring our driver is margin a revenue margin twice of key on monitoring bottom of line gross is blended gross and
In our monitoring net fixed, endpoint costs largely revenue from to that addition, drops operating the additions largely income line. given are incremental
of in from following to costs that of hardware principally XG wireless some sunsetting monitoring The down in 'XX. Our is margin XX% the result in technology. of gross year-ago obsolescence increased to to improvement XX% a written up blended related due the period QX, was QX inventory
revenue. margin our mix the to seen in monitoring on would forward, Going of we expect gross in range depending blended hardware XXXX fall the more and
future periods. and the first And the Importantly, XXXX. months achieved performance track in on to a of are believe we net third profit build this quarter X Acorn for we on
future further flows. benefit carryforwards, to cash our over operating $XX liability, Acorn's profits future expect million, loss shielded NOLs from tax totaling we to largely our Given be providing
industrial of 'XX XX% in this QX. orders commercial to growth Clearly, some the that declined revenue cash timing and Our in relates a of C&I XX% for basis following QX year-over-year earlier were strong or as end continue are higher in generator we the rates interest generator sales customers. residential on who impact year, user side see some weakness placed dealers to the our but larger
economic we trailing on environmental achieve this believe we long-term benefits Though our that of enable support and level currently basis, to development working the should us and growth annually. to to a on initiatives achieving range XX% discussions remote forward. continue business customers going of goal We solutions growth we are year-to-date a are top contract monitoring averaging can more that that substantial line or believe
still monitoring market residential segments. Underlying the benefits substantial is and across our cost efficiency along limited to risk the optimism environmental customers control and [indiscernible] and reduction, mitigation our provide commercial very with that target solutions our
support our and of one XX a agreement believe of multiregional generator today, commercial with nonexclusive ramp resale operations. disclosed we outlook the agreement X,XXX X,XXX over growth We of this next with In between the months largest per could monitoring dealers year. the to connections nation's completion new
activation $X along of and to monitoring of fees million We base revenue revenue when years. monitoring adding contribute our subsequent believe sales, hardware in fully million to initial $X to relationship recurring this operational with annual
partnership to to of our starting contribute results this in to expect XXXX. We quarter begin the first
to Turning customers. C&I our
constraints offer monitoring and control face and ROI compelling remote solutions they as to that costs, environmental rising needs, increasing particularly continue targets. pressures, meet We their budget
areas, in the remote customers While carbon all increasingly our benefits to monitoring. C&I are solutions of reduction deliver benefits significant attracted these
they and our we terms to We needing environment regulations. value truck environmental combined provides but in with comply with work efforts. with requirements development reporting ROI also awareness generator to provide sites, rolls very can of operators believe growing marketing example, business favorable reporting state For for pressures environmental some and the reduced a that
well-known development believe We Kohler Platinum in billion agreed a large was off one and percentage like many Kohler, divisions, investment to $XX has an the for generators, large equity billion that business I energy a this Equity, minority business week. and a fund. very are X of industry that their to spin private dealerships. $X they retaining company what bath of that business mention important manufacturer the products announced private kitchen energy is the a I from support would other
capabilities our electric substantial see standby also potential to grid DR. We programs for generators control Response operators growth from support Demand and or through monitoring leveraging
partnered with generators enable and for compensation periods brief build support grid owners sign out their on generator and demand. the have offerings peak for to making automatically CPower our operators receive to that for We grid up available use to capabilities and turn to during
capabilities enrolled QX, first providing OmniMetrix our to we Response of announce XXX to endpoint. programs. compensated will are and some on will in And test, its market approximately for enrolled be Demand and [indiscernible] turn It these each customers, has the enabling XX proud time taken role and for formalize we kilowatts that during often power.
that these ERCOT, approved few we which Each now customers shortly Texas, must we expect expect them would by in to thereafter. weeks, grid operator to a live take of after a be go process the
mentioned, believe to business addition very a have our we in respects. is we compelling DR As several
ongoing And we are it additional of this help stream cost First, in backup regard, generator adding offset owning generator we to owners providing expect revenue generators. that or them helps the to demand. stimulate
new enrolled our revenue provides excited our our forward. provides to long-term and the to that potential For the benefit additional enrollments first to services an become Acorn, are going attractive source profit of and business about with double generator. DR stream the for potential each added profitability very an an sticky we important for Accordingly, DR
and and Lastly, cash, growth in for debt free X and value [indiscernible] XXXX. cash generated strong Acorn in the creation. to QX position to growth for for Acorn is quarter We million closed external no months organic in continued third $X.X look and first over of positive with very believe flow a continue opportunities
Our M&A explore avenues we a of value create opportunities, strategic to high business. hurdle for the possible disciplines accelerate growth our and continue potential but to
the her the review call her provide on for Tracy back hand to of operations. financials our now me and Tracy? insights Let
