Rich, good morning, and Thanks, everyone.
clear global office, sales box our strong a inflection at Hollywood is installations with local and it positive of and point stated, business language Rich As a is accelerating system slate. ahead
business the global to not revenue while by Blue products.
Events business Queen our Angels, very mix, and revenue growing our tethered The Rock like emerging by of are Montreal, Boys our contributions further from and Beach utilization We and highlighted diversity studio capacity and streams new network. encouraged experiences also driving diversify across
bringing consumer adds diversity revenue. streaming Our and licensing business technology and margin also revenue in by software high
contribution growth. from one enable our in business coupled sustainable that to the accelerating the and with momentum drive Given streams, revenue combination, the incrementality a emerging our we in potent core believe us model, will growing business, creates
Turning now office $XX we alternative rights metrics. across solutions $XX of driven exceeded to revenues content the by results, of content We revenue and the where Within grew strike-impacted a Amazon expectations performance. of documentary more than our QX consensus offset year-over-year, recap Angels XX% the that that, sale for of lower most million. box of delivered million in streaming growth Blue
very are to unlock our value on our is and We bearing commercial documentaries encouraged for early fruit. that and strategy network streaming our platforms
Turning stock-based sales.
SG&A X% as year-over-year. year-over-year, this higher revenue well XX% last installation lower level of Products rental $XX driven mix million quarter's grew was impact as $XX on arrangements and of million, a installations excluding by to XX% system that Technology sharing the revenues the declined and box Services. to improvement joint System a mix year. revenues, led included than year-over-year, upfront Overall, compensation lower office
XX.X% As to in and EBITDA with highest our compared XX.X% offset mix spend spend was margin office driven total for box these marketing margin R&D and with at and second we savings. declines partially from Overall, the lower operational consolidated initiative events. sales revenue $XX saw year, by year-over-year, and gross QX quarter, prior in reminder, being cost SG&A adjusted by benefits. of lower is Even million costs, global generally a a the efficiencies
first XX%. XX.X%, line margin our total in half, full and For EBITDA the adjusted guidance was of year high with
of was compares $X.XX adjusted the $X.XX, consensus and easily to Lastly, beats period. year-ago EPS adjusted EPS in QX in which
to our described. both continues Rich QX grow network, growth as that Turning demand showed good in for expected strong of advance to installations system signings office and very slate IMAX global in the box
completed the over new of During rest were activity Of the XXXX, the growth a XX% North more signings, dramatically in of of over locations, The first confidence with at than QX our of QX, system year-over-year. with installations, to a versus network our XX accelerating outside for world, QX installations pace to the backlog of growth trajectory. up XX XX systems in XX of China.
Signings us XX% and America these along QX year, gives significant the installed prior of with which we installations quarter, over half, XX% the of in in quarter signings expected XXXX. the us be XXX at end XX% installations, in these increased and puts
above year result, As the XXX system to we of have the low end to XXXX XXX range installations raised XXXX from installation guidance XXX to full a our year XXX systems. range systems with XXX full systems, of
a million Turning to the higher been working The that flow flow operating office This a sheet. to QX to has in $X reflects timing focus, cash receipts had the flow the $XX as cash and I'm box million operating strong the see We pleased in year. year-over-year compared improving progress. of as of cash prior well balance and capital.
debt, debt in cash $XX $XX with strong very of reflecting costs, net and remains excluding reduction million a $XXX financing sequential position in capital deferred Our million. million of
reminder, our X.X% leading $XXX million annum, that comes convertible to of share notes As due rate XXXX bear debt an $XX in price. a from with a conversion per senior of per call capped interest a our
$XX.X competing Our CapEx, of We million under network. $XX million capital spent of expand share to allocation company's and we in current also the including million includes capacity repurchases. million repurchases the the revolving on cash the available available when the varying uses weighted share pressured $XXX factoring on growth were perspective, including by IMAX on $XXX year-to-date is available million, repurchases liquidity determined facilities.
From in quarter of and Hollywood first CapEx, growth a IMAX following share level which borrowing CapEx excess cash, borrowing, price, our was the while IMAX cost our strikes. toward price considering $XX
on This I in share outstanding office meaningful We since our shareholder XX.X the have shares continue focus have In shares, adjusted shareholder to expected are of available and EBITDA our repurchase remaining to buy XXXX. under expansion gives driving the trajectory. total, returns for $XXX following approach million adjusted focused or XXXX, us given XX% spent share EPS reduction box outlined. potential authorization. on $XXX per back returns the approximately We'll million million share and we
our with ecosystem, perspective. through period entertainment on we from the for run pleased While and financial we performance we are our the also financial and disruptive resilience an focused been improve to operating business a have continuing way the
operating structure intellectual savings, have power past as improve the a operational improvements of closely at ownership the global property our we That alignment our looked efficiency. tax earnings business. Over well to and X evaluation months, led of as and better has structure maximize to
We this forward. we quarter, several steps, taken on the to and are expect manifest of results reflected going have which our benefits more financials
streamline we a have First, of to the to in operations, that our we certain overhead to the IMAX China in allowed restructuring Thus, global taking organizational engaged year. were and efficiencies Corporation, our to greater decreased. aiming have gain last us we and in which realize China including IMAX gains to capture begun roles resulted effort benefits IMAX tax with private expenditures.
These incentives reductions business elimination of efficiency number from has have privatization
Secondly, resulting quarters most unusually tax since valuation pandemic, as impacted have allowances in adversely previously the high we been by an tax discussed, rate.
most legal mix where of our optimize reflect reorganized profits. and our entities tax structure investments to we making are the quarter, and second business the we During to our the realizing
to These have we future will result we office, our global IP key system that stemming a film diverse positive promising some profitability are creation a ahead the to years installations, capacity from the a DNA ever from contributing future.
To X slate momentum office.
Along in opportunity drive given global real additional $XX of the next IMAX million point drivers earnings than million sales of can in value help on is business, this and across of utilization seen. for XXX utilization the greater strong structure We're A outcomes a with in are the pre-sales in rate. strong several additional expect effective growth driving recognize the we've greater box of our the revenue our box and new same in with and QX streams reorganization, global As delivered and time, At the installations, our Wolverine. and benefit IMAX this across third and in we $XXX more IMAX start. over result, signings China's network cusp on tax confidence growth quarter tax Twisters, Deadpool increase a more and from system and our Successors very the conclude, consecutive in network. support off extremely X to hits system of great
IMAX Given come.
With the is flows Q&A. cash increased market over poised to deliver on the we efficiencies, to model, call the our our tailwinds the of in and continued years strength and to for the operator that, turn growth, margins will expanding believe I strong our business operations for focus streamlining unlock to
