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Revenue for the fourth quarter of fiscal 2022 was $16 million, up 7% from the prior year quarter, compared to the same era last year, AHD coins were $11. 8 million, down 15%. IMNS coins were $3 million, five times more than last year, and software coins were $1. 1 million, up 63%. Within this software, Americas recurring SaaS coins under construction increased 231% year-over-year quarter. Gross profit margin was 47. 8%, compared to 51. 2% in the fourth quarter of fiscal 2021. Gross margin is a percentage of currencies that decreased due to an increase in the software charge and emerging product charges. Operating expenses were $20. 4 million, compared to $7 million in the same era a year ago, largely due to a $13. 2 million goodwill impairment rate related to the software business unit.
The non-cash impairment rate was taken to reduce the Company’s equity assets due to sustained declines in primary equity indices since the beginning of the year, resulting in a reduction in SaaS market multiples from 15. 5 to 5. 5 times annual revenue. We measured impairment capital gains on an annual basis in our fourth fiscal quarter. As a result of the impairment analysis, the Company recorded a goodwill impairment loss of $13. 2 million related to the software business unit for the third and 12 months ended September 30, 2022. Excluding impairment rates, constant expenses for the quarter were $7. 3 million, an accumulation of 4% over last year. Net loss for the quarter was $13. 8 million or $0. 38 consistent with share, compared to the net revenue source of $8. 8 million in the fourth quarter of fiscal 2021.
The reduction is primarily attributable to the non-cash goodwill impairment fee of $13. 2 million, the minimum gross profit margin on enhanced building sales, and a source of cash in tax expense. non-cash cash inflows of $1 million similar to the provision for valuation of deferred tax assets. Revenue for the full fiscal year 2022 $54 million, an accrual of 15% year-over-year, compared to the same era of the prior year. IMNS cash in construction increased 457% to $11. 4 million and software cash in construction increased 11% to $3. 1 million. These builds were partially offset by a 6% decrease in AHD cash to $39. 5 million. The software cash build is largely driven by software-as-a-service cash growth, which increased 427% year-over-year, partially offset by a 38% decline in professional services cash. Gross profit margin 48. 7% for the full year, compared to 49. 8% for fiscal 2021.
Gross margin as a percentage of earnings was lower than last year, basically due to higher prices related to continued investment in other people, i. e. our software earnings expansion and higher product prices in the current part of fiscal 2022. Operating expenses for the full year were $41. 9 million, compared to $22. 3 million for fiscal 2021, largely due to the $13. 2 million non-cash goodwill impairment rate I analyzed in the discussion of fourth quarter results. Excluding impairment of goodwill, general operating expenses for the year were $28. 7 million. The accrual in operating expenses is also due to the expected accrual in general and administrative expenses and studies and the progression compared to the year prior to the expansion of SaaS earnings. This accumulation in overhead, administrative and R expenses
In addition, depreciation and amortization and marketing expenses increased compared to last year. The net loss for fiscal 2022 was $16. 2 million or $0. 44 consistent with the consistent percentage, compared to the net revenue source of $0. 7 million or $0. 02 consistent with the consistent diluted percentage for fiscal 2021. This reduction is primarily due to the non-cash impairment loss of $13. 2 million, a non-cash source of income tax expenses of $1 million similar to the provision for the valuation of deferred tax assets, and an accrual in expenses of $6. 4 million. Adjusted EBITDA for fiscal 2022 was positive at $2. 4 million, compared to $4. 1 million last fiscal year. We believe this data compared to adjusted EBITDA improves overall understanding and visibility of our business according to performance.
To this end, a reconciliation of our GAAP to non-GAAP figures has been included in our earnings release. Our balance sheet remains strong and our business continues to generate significant money from our operations, enabling reinvestment for long-term expansion. Cash, cash equivalents and marketable securities totaled $19. 9 million as of September 30, 2022, compared to $20. 7 million as of September 30, 2021. The $800,000 minimum is the net result of the repurchase of approximately $1 million of common stock in open market transactions. Capital stood at $20. 3 million as of Sept. 30, 2022, up from $18 million a year ago. We generated $486,000 in money from operating activities in fiscal 2022, after reinvesting approximately $9 million in the software business for the expansion opportunities we anticipated.
We are diligently managing our capital allocation to remain debt-free, while advancing our company’s strategic shift toward higher-margin software services. With that, I want to open the call for questions and answers. Operator, can you start the Q&A session?
Operator: Merci. La ground is already open for the first one. Our first comes from Ed Woo of Ascendiant Capital. Please involve yourArray
Ed Woo: Congratulations on the quarter. My answer is: Have you seen a change in the macro environment in terms of the willingness of those governments to sign contracts?
What we’re seeing on a macro level, Ed, as I mentioned in my comments, the outside is even though everything is opening up. The APAC region has probably been the slowest to reopen in the wake of COVID. plague. But they are fully open at the moment, as well as other foreign markets. So no, I didn’t, that’s the direct answer to your question.
Ed Woo: Génial. Et problems with the source chain?Have you stepped up and returned to normal, do you have a lot of higher inflation?What effect does this have on your business, especially your hardware business?
Richard Danforth: Yes. The team here has been handling this during the pandemic and will continue to do so. Inflation is a fact and has an impact on our gross margins. Our gross margins for 2022 decreased by 1. 1 percentage points. it really took a step forward in the fourth quarter compared to the third quarter, so we have the opportunity to change the price of our products, which we did two or three times in fiscal 2022. Now, of course, accumulation is rarely very I don’t have an effect, but new reserves are. So yes, we are a little challenged by the expansion of inflation that the world is experiencing.
Ed Woo: Well, Genial. Eh well, thanks for answering my questions and so do I. Thank you.
Richard Danforth: Thank you.
Trader: Next is from Mike Latimore of Northland Capital. Indicate yourArray
Mike Latimore: Thank you, yes, and congratulations on a wonderful year here. I think he talked about $6 million in reserves in the fourth quarter. How much of that in the software category?
Richard Danforth: Are we revealing that? We’ll see the overall earnings of the software in the reports, but not in the reserves.
Mike Latimore: Okay. And then, can you remind me how many providers you have lately?
Richard Danforth: So we have another 31 people in terms of sales and marketing. At our most sensible, we have about 69 in the software development group.
Mike Latimore: Okay. How about a number of dealers like a transport room?
Richard Danforth: It’s at the peak 31. Es of 31, there’s also a pre-sale, but
Mike Latimore: I get it. It is ok. And then, in the longer term, as your software business evolves, what kind of gross margins do you foresee there?
Richard Danforth: 60% to 80%.
Dennis KlahnRevenue Call TranscriptKim RogersNASDAQ:GNSSQ4 2022Richard DanforthYahoo FinanceSee more. . . Show less
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