Good joining morning, you Thank Today, the business. last key for of be we we everyone. covering as will did us. areas quarter, three
First, the for detailed initiatives; followed Dean to the for quarter; Then structure the over by review, performance balance call key Q&A highlights in cannabis on I'll development financial sheet a and third, progress a second, the our the sector. capital company and turn session.
morning, this After completed the we synergies have and our cost heavy advantage business opportunities, market take fairly we strategic we expansion a remained integrating as improvements. well Earlier reported of which and structure investment acquisitions, XXXX this number results. future to development years of on in and positioning year, QX focused two as
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nearly revenue for XX% Highlighting and the of year-over-year software year-to-date. quarter, we saw XX% the growth
slightly a last in first strong year which catalyst just the the Our current ahead is full year, the seeing annual discuss run half rate, running in we'll and moment. some we're anticipating of of XXXX, year closing out
year's XX%, the XX% for quarter margin Gross to with last XX% last year-to-date. period, year's consistent and was compared was year-to-date for
existing industry this acknowledge of we moment more of internationally, has into seeing on domestically discuss And space the both pace some new growth, a elaborate we and delayed. decisions demonstration I'll While this with that when this of growth being do is impacts entrants purchase we're cycle. potentially, recent this trended in election the operators, is year-over-year clear slowing. a down US
now, I'm this. for clear is what But making
competitive position cost-saving measures to our through in ensure taking solidifying this market. our are we The available leadership We are the earlier year to P&L. measures we are tracking enacted
cost which being announce line successfully reduced proud each staff is to other We're realized. considerations, costs per clear that down from year demonstration reduction, saving This approximately expense a $XXX,XXX ago facility are reported a is currently and levels. quarter, efforts, our us reduction
bookings we'll client these revenue, metrics, provide call, in how we're our our as to on clarify Then key an they're explain last call CARR, performing. growth evaluation. committed I'd on our today's strategic reemphasize alternatives or I'll recurring in why important update transactions. quarter, like On metrics: annual and growth three of performance each and
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clients As design our a is contract. CARR amount success result, metrics track measure we which total for the of revenue the most and present our contracted recurring important with total
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light the represents reality clients have service sectors of select cuts. macroeconomic reality of that's This reaching a a a where, of across economy made factors, consumer foster number in some
our retained for However, needs. their mission-critical broadly speaking, clients we most have
them open. us ultimately that years as meeting acting and clear in to to value in they this trusted a as with eventually both backing with providing expand mutual now adjust have we them new important over experience make markets long of we're help are needs the positions clients to term, adviser With partnering it and climate. us, today, our XX the It's
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decrease. the closely market XX% legal supply habits, cannabis legal this consumer sequentially, growth our volume result dollar what spending and amount a well And Our is and reflected that as illustrates XX% as transaction in opportunities. of a increased as by demand track transactions will transaction
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volume course through a opportunities Macroeconomic and headwinds growth. The and charting challenges continues ultimately, that bring volumes, retail future still collective create wholesale for we're to certainly regulatory transaction industry payment industry political provide transaction growth for as opportunities. including to monetize revenue on the catalyst, changes climate domestic
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of call. as takeaway operating they is utilization. to The US But ready through actions to filings, make that US themselves, that such details international are Dean in SAFE steady markets we and/or our will that this the present is on during we balance and Banking state are the and in new on solid Act capitalize banking whether the movement remain our sheet, federal strengthening touch opportunities opening, as specifics growth continuing
should suggest regulatory that and President when was Last should environment be historic had a update. cannabis to reevaluated And month, offenses actions, for be the the first be partnered. to the for of the the touching SAFE President that Biden soon proposed the and federal on level cannabis utilization he These at potential when Banking PREPARE level. at US simple federal momentum sitting legal unprecedented moment scheduling coupled with and the cannabis signify Act,
ballot. passed legalize their for we midterm Maryland recreational Dakota initiative cycle, in state cannabis with Dakota. Maryland, five XXst cannabis. and As their Arkansas, becoming on North Missouri, and states the Both Missouri election XXth to and total, South recreational saw this
Future older. cannabis. with states demonstrate legal years nearly wins With half two the bipartisan voters The for uses anyone celebrated. it continued passage for when cannabis passing of in interest XX to or comes of initiatives live be of measures a these states Americans
the new initiatives represent Importantly, opening two these recreational of markets.
Although lines enter license and remain be stay ready yet markets structures are to to determined, these largely and we open. positioned time to
Colorado and of majority to of clear yet because state to when Senate continue do. At the has change. cannabis regardless see federal many I to must in and party remarks, which The declared we economy. House statement an statistically cannabis that the saw be a in there COVID to be the and say of states, finalized. seen was of races are this I vote the want the in time during be industry bipartisan as thing this these We when responsible this other legalization applies essential
federal incremental minds party creation safe revenue this the be the macroeconomic economic of increased job face the benefits, majority, In and climate, should bipartisan. Congress, as regardless banking, such action, or forefront actions of including at which of the has of cannabis putting
fourth We our progress into and all meeting heading the the suggest good series. believe three indicators beyond long-term that quarter
nice compliance core service clients. and business of a not is for our have to must-have a our First,
larger continue enterprises. small services best-in-class addresses businesses, will enterprises, that needs the a medium-sized midsized of and to suite We cannabis offering of
on positioned the projected more to running are grow each central of market with -- is and we the industry year. as Second, cannabis a a player
and solution that many category, our ahead. and making clients ensuring the come enjoy by years necessary decisions the are and that are narrowing for are industry is in to for cannabis go-to to the must-have the rise to to with we product ensure our focus space entrenched years we projected Third, core to prudent the firmly growth the we
in position future have believe realize and our to we've financial and us we will we the objectives. subment optimistic our We enable in front done the with of about their cost-cutting long-term conjunction remain us opportunities leadership
the Now, Ditto, who Dean of I'll provide will hand over financial overview Dean? quarter. the call a to our CFO,
