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accounted, accused, adherence, age, assessed, began, carry, charge, collaborate, collected, combine, Commercial, communicate, consistent, constraint, consumer, contractually, country, criteria, degree, Delaware, demonstrated, digital, distancing, doubtful, employed, equipment, estimation, exceed, excluding, expedient, extended, faced, fairly, favorably, footnote, found, Founded, fourth, free, fully, goodwill, hand, headset, health, human, identifiable, implemented, inception, incorporated, increasing, indirect, infrastructure, institution, interim, ISDA, judge, largest, leased, legendary, likelihood, maintain, meaningful, met, model, monitoring, naturally, necessarily, NYSE, omitted, operational, optimization, optional, petition, physical, point, power, powerful, practical, predicted, prioritizing, produce, producing, protection, rationalize, realign, RealPresence, recession, record, recording, reexamination, reflection, regularly, relevant, reorganize, repayment, replied, reply, responding, restricting, retail, returned, routine, sanitation, scheduling, shelter, shown, span, stipulation, streamlining, subsequently, symbol, Telepresence, ticker, unchanged, unforeseen, utilize, variability, variation, worldwide
Financial report summary
?Competition
Apple • ClearOne • Cisco Systems • Logitech International • Audiocodes • Avaya • Zte • Turtle Beach • RazerManagement Discussion
- Total net revenues for the first quarter of Fiscal Year 2023 were $415.6 million, a decrease of $15.6 million or 3.6%, compared to the first quarter of Fiscal Year 2022, primarily driven by declines in our Video and Services product categories. Products gross margin rate for the first quarter of Fiscal Year 2023 decreased from 36.6% in the first quarter of Fiscal Year 2022 to 36.4%, primarily driven by increased component costs as well as transportation costs. We continued to experience the effects of the current supply environment including constrained supply and longer lead times for certain components, such as semiconductor chips.
- During the first quarter of Fiscal Year 2023, Poly continues to expand its portfolio of smart devices with the introduction of the Poly Studio R30 video bar, the Poly Sync 10 speakerphone, and enhancements to the Poly Lens platform. These pro-grade solutions, combined with developments to Poly DirectorAI smart camera technology help deliver meeting equity for hybrid and office workers alike. These products were available during the first quarter of Fiscal Year 2023 and did not have a material impact on total net revenues.
- The Company’s reportable segments are Products and Services. Our Products reportable segment includes the Headsets, Voice, and Video product lines. Our Services reportable segment includes maintenance support on hardware devices, as well as professional, managed, and cloud services and solutions.