Our financial results in Q1 FY2021 were strong despite the continued negative impact of the pandemic on our business. Compared to Q4 FY2020 revenue grew, and the rate of year-over-year revenue decline improved sequentially, with reported revenue and organic constant-currency revenue down 7% and 10%, respectively. Our profitability was strong, with operating income and adjusted EBITDA up 42% and 11% year-over-year, respectively, as a result of continued efficiency improvements and recent cost reductions. Cash flow from operations and adjusted free cash flow were up 68% and 128% year over year, respectively, and we repaid $84 million of debt.
Our reported revenue and organic constant-currency revenue declined 7% and 10%, respectively, in Q1. The pandemic continues to negatively impact our revenue results, but the year-over-year decline was less severe in Q1 compared to Q4 across all segments
Q1 FY2021 GAAP operating income increased $10.6 million year over year to $36.0 million. The negative revenue impact of the pandemic was offset by variable cost controls, advertising efficiency and fixed cost savings. We also had a year-over-year decrease in restructuring charges of $2.3 million. Our GAAP operating income benefited from about $4.0 million of COVID-19-related government incentives, primarily to offset wages for manufacturing and customer service team members in countries where demand decreased but roles were maintained.
details at: https://ir.cimpress.com/static-files/40a10154-4649-4010-9752-a21b4680f535