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spk00: We just released our Q2 results and in this video I want to recap our Q2 results and provide an update on our merger integration process. We completed the MCC acquisition on the 24th of April and we're off to a very good start as a combined company. In Q2, we're reporting our consolidated results for the first time. And these results are not a full quarter, to remind shareholders. They reflect two months, May and June, plus one week of April, that last week of April. We're pleased with our continued momentum and our progress at building a better and a bigger business. From a revenue perspective, our quarter two was up 75% year on year at $119 million in revenue. And it is our seventh consecutive quarter of year on year growth. So great momentum from a revenue perspective. and even with our strong year-on-year comps or year-over-year comps our underlying revenue performance is very very strong and well ahead of our five-year target we're just north of eight percent uh underlying revenue on a year-to-date basis also pleased with gross profit momentum our gross profit increased just under 57 to 32 million and our gross margin was 26.9 which really reflects the mcc's lower gross margin contribution Now, I want to remind shareholders that the lower gross margin MCC was actually part of the deal logic and one of the opportunities to create value and build the margin back up to our DCM margin of north of 30%. And we've got a clear action plan to get there over the next year. From an SG&A perspective, we're 19.3% of revenue, down from 20.5% a year ago, so very good progress. Also reflects MCC's lower SG&A expense as a percent of revenue. And these lower SG&A expenses also were very attractive as part of our deal logic. and helps our path to zero and even negative overhead growth. So really good progress from an SG&A perspective. And finally, total net debt on the quarter, $98.6 million, down 20% from when we closed this deal. And certainly, you know, really good progress. And we're very committed to continue to deleverage and pay down debt quickly. And you can certainly see that in our first quarter of being a combined company. Quickly turning to merger integration, we've really had great progress in our first 100 days. We just celebrated our 100 days a week ago. From day one, we brought the teams together and we really used Speed as our ally to engineer early wins. A few examples of that, our new DCM commercial teams are fully integrated and lots of focus on enterprise growth across our customer base. In the operations side, we announced our first steps to consolidate our footprint, which includes the closure of two facilities, so great progress there. and we've got a lot of ongoing work to help become more efficient, more effective, and accelerate production and improve margins. Also, our procurement teams are working very well together to leverage expanded scale and deliver anticipated savings. So overall, we're well on track to achieve our $25 to $30 million in synergies that we announced to shareholders. over the next 18 to 24 months. And already within the first quarter with the headcount reductions that we've completed and some of the work we've completed on procurement, we've already achieved 4.2 million of this Synergy Goal, so about 15% of the Synergy Goal in our first 100 days, so really good progress. So in summary, we're off to a terrific start, really proud of the team, proud of the momentum we've got in our business. We're certainly focused on growth, improving our efficiency, and building a better and a bigger business. Look forward to reporting on future progress and continuing the momentum we've got in our business. Thank you.
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