The remaining increase in SG&A expense was largely due to higher travel and expenses following the lifting of COVID travel restrictions, higher salary costs following senior leadership team appointments in late 2022, and lastly, foreign exchange loss largely related to the accounting-driven requirement to mark the market Euro-denominated lease liabilities for right of use assets.

Jul 6, 2023 / CFO / receipt, needs a key / John Gillard, CFO | earnings call 2023-07-06 | transcript b450dfe0-577f-4af3-b4b8-e2847d34e8ef | chars 11068-11450 | segment 11

With the lifting of COVID-related travel restrictions, we have tasked our sales and marketing teams to increase travel to customers and trade shows, as we continue to revitalize our sales activities.

Mar 23, 2023 / CFO / receipt, needs a key / John Gillard, CFO | earnings call 2023-03-23 | transcript 392d483a-ff8b-4b97-a7fa-f7351aef4cb8 | chars 15955-16154 | segment 16

Offsetting this are additional travel and trade show related expenditures reflecting an increase in sales and marketing and senior operational staff travel post the lifting of many COVID-related travel bans. We believe it's important for our sales and marketing staff to resume face-to-face interaction with our customers and partners as a key component of rejuvenating our sales revenues.

Dec 15, 2022 / CFO / receipt, needs a key / John Gillard, CFO | earnings call 2022-12-15 | transcript accaffb6-4615-41b8-9e0d-691e976bef22 | chars 6761-7150 | segment 6

Offsetting this has been increase in transaction related management bonuses and increased travel costs as our sales teams have been focusing on meeting our customers and distributors. now that most COVID-related travel restrictions have been lifted.

Nov 3, 2022 / CFO / receipt, needs a key / John Gillard, CFO | earnings call 2022-11-03 | transcript 4fce2968-adf4-4f1b-b16e-a2edb401b770 | chars 5909-6158 | segment 6