Revenues outside of the United States represented 49.5% of total net revenues for the three months ended December 31, 2023, compared to 46.4% for the same period in the prior year.

Software revenues, as a component of net product revenues, increased 1.8% for the three months ended December 31, 2023, from the comparable period in the prior year.

Operating expenses decreased by 13.8% year-over-year, primarily due to decreases in sales and marketing and research and development expenses. These decreases were largely driven by personnel cost reductions.

The company recorded restructuring charges of $8.5 million related to workforce reductions, indicating ongoing efforts to align strategic and financial objectives.

The 10-Q states that there have been no material changes to the risk factors from those described in the Annual Report on Form 10-K for the fiscal year ended September 30, 2023.

Continued customer budget constraints brought on by uncertainties in the macroeconomic environment have led to delays in customer purchase decisions. The impact of these buying patterns led to softer demand for both our software and systems products and services.

Cost of net product revenues decreased $16.1 million, or 16.3% for the three months ended December 31, 2023, from the comparable period in the prior year primarily due to a decrease in systems revenue.

Professional services headcount at the end of December 2023 decreased to 1,049 from 1,082 at the end of December 2022, indicating efforts to manage service delivery costs.

The company repurchased $150.0 million of common stock during the quarter, signaling continued confidence in the company's value and financial position. $772.4 million remains authorized for future repurchases.

Cash and cash equivalents, short-term investments and long-term investments totaled $832.0 million, representing an increase of $23.6 million. The increase was primarily due to cash provided by operating activities.

The company notes that uncertain economic conditions, including inflation and higher interest rates, may adversely affect results of operations and financial performance.