Strong Revenue Growth
Total net revenue of approximately $1.8 billion, including the impact of the Snap One acquisition, grew 19% year-over-year.
Significant Gross Margin Expansion
Total gross margin was 28.9%, up 200 basis points year-over-year, marking the eighth consecutive quarter of year-over-year gross margin expansion.
Record Growth in ADI Segment
The ADI team achieved 29% year-over-year growth in reported net revenue in the first quarter.
Positive Product and Solutions Performance
The Products and Solutions segment reported revenue growth of 5% year-over-year and 6% organic growth, with strong demand for new products.
Strong Adjusted EBITDA and Earnings Per Share
Total adjusted EBITDA grew 23% year-over-year to $168 million, and total adjusted earnings per share grew 34% year-over-year to $0.63.