Adjusted gross margin was 30.3%, up 60 basis points year-over-year, but Butler noted it was partially offset by increased product cost and declines in “high-margin finance-related fees,” which he linked largely to forward flow arrangements that shift certain finance income off the balance sheet.Adjusted operating margin was 3.9%, up 240 basis points year-over-year, marking what Pastor called a turning point after five quarters without year-over-year margin improvement. CFO Chuck Butler said adjusted operati ...