in much lower cost of revenue for the Colares, given that these transactions are processed internally. We also completed implementation of risk based pricing in the travel vertical, which allows us to match the interest rates charged to the rich profile of these end customers. On Colares B2B business, we continued expanding the number of merchants in the eCommerce sector, which we now provide alternative means for customers to pay the foreign language. They can now pay by their payment solutions. We now have 30 merchants signed up, we also have at least four new merchants in payments and fraud, bringing the total number of merchants to 10, year to date. Notably, current total purchase value for the quarter tripled sequentially. As we look ahead, we expect to be adding more industries to our two verticals in the very near future. We see a very attractive potential for coin services, buy now pay later, and fraud prevention, which have a total addressable market of between 15 and 20 boards in Latin America. I will now turn the call over to Alberto to discuss this quarter's financial results. Thank you Damian, and thank you also for joining us today. Turning to page six, as reported revenues increased 32% sequentially, to 37% below third quarter ' 19 pre-pandemic levels, compared with 39% below second quarter ' 19 levels in the current quarter. Excluding extraordinary considerations in connect- in connection with the COVID-19 pandemic, revenues would have been 32% below third quarter ' 19 levels. Note that this quarter, we also saw lower cancellations. The ratio of cancellations to gross bookings decreased 33 basis points quarter on quarter. Importantly, our take rate remains strong, reaching 12.7% as reported, and 13.7% when excluding extraordinary cancellations. These factors and this development were a contribution from building and improvements in revenue management, implemented since last year, which have allowed us to further optimize pricing through more advanced algorithms. Now, please turn to slide seven. Moving on to profitability, we achieved the best quarterly adjusted EBITDA since the start of the COVID-19 pandemic in second quarter, 2020. Despite posting gross bookings 44% below third quarter ' 19, we were very close to break even when excluding extraordinary targets. This is proof of the initiatives launched new in the this period, particularly in terms of cost reduction. Excluding extraordinary charges, comparable adjusted EBITDA neared break even, reaching a loss of 3.6 million, improving from losses of 10 and a half million in the third quarter, and nearly 17 million in third quarter 2020. This compares with a comparable adjusted EBITDA gains over $9 million in third quarter ' 19. Note, that one time charges were nearly $7 million in the quarter, mainly in connection with extraordinary cancellations resulting from the surge in COVID-19 cases, compared to non-regarding charges of 12 million in second quarter t- 2021. We are confident that Despegar will be coming out of the pandemic as a more profitable company, very diversified from both a geographic and product mix perspective, backed by a more sustainable business model. Now, please turn to slide eight. We closed the quarter with a sold cash position of $276 million. As travel conditions improved, use of cash during the quarter increased to nearly 40 million. Recall that in the second quarter, we had granted a higher number of vouchers to customers who's travel plans were impacted by a spike in COVID cases, mainly in Brazil. While this resulted in a lower use of cash of close to 10 million in second quarter ' 21, with better travel conditions in this past quarter, we saw a pick up in demand with customers redeeming travel vouchers. The redemption of these vouchers added 15 million to the cash burn that we have been posting recently, of 25 million. In turn, our net payable position decreased nearly $20 million in the quarter. Now please turn to slide nine for the key takeaways of the quarter. First, we delivered a strong sequential recovery, driven by better performance across our key markets, except for Mexico this quarter. Brazil led the recovery with gross bookings up 126% sequentially, but still 60% below ' 19 levels. Colombia also showed a show inaudible with gross bookings exceeding third quarter ' 19 levels by 32%. Second EBITDA, excluding cancellations, we neared break even, even with gross bookings still 44% below ' 19 levels, as the initiatives implemented since the start of the pandemic have significantly strengthened the earnings power of the company. This positive trend in profitability continued into September with adjusted EBITDA reaching break even levels when excluding extraordinary cancellations. Fourth, we continued to deepen customer engagement with our loyalty program reaching the one million member milestone in Argentina, Brazil and Mexico combined. As demand has picked up, we also launched our first offline marketing campaign since second quarter last year. Finally, on the ESG front, we launched our materiality survey, and look forward to sharing the results in our next ESG report. Now, please turn to slide 10 for final remarks. Despite ongoing volatility and some macro inaudible, our longterm vision is if anything, in sharper focus. The initiatives required to realize it are pulling away even as we work through near term macro challenges and consumer behavior continues to adjust. Looking at the fourth quarter, the strong recovery observed in gross bookings in September continued into October, reaching 72% of ' 19 booking levels. In addition, we expect November and December to continue with these positive trends, benefiting from industry marketing events, such as the Buen Fin campaign in Mexico, and Black Friday in Brazil. December also marks the start of the summer season in LATAM, which would also contribute to higher demand in the region. In this context, we are stepping up our marketing efforts, while keeping a heightened focus on profitability. To illustrate the point, on a weekly basis we are launching a minimum of four unbeatable deals by country, while carefully balancing the price financing perception. With respect to inaudible we are on track with integration of the in destination activities segment, and expect to fully finalize the integration of this acquisition as planned by first quarter next year. We are also making steady headway in expanding coins acquisitions operations, in addition to adding new logos in the B2B business segment in Brazil, we are taking the first steps to launch coin in Mexico early next year. Finally, we are in conversation with several suppliers across the region to expand our vacation rental inventory, to meet current higher demand in this third segment. In summary, our continued focus on enough and our improved performance to date, together with a positive progression in demand, are quite encouraging. We believe that while forecasting future performance did present some challenges due to the ups and downs of the pandemic, we expect that the developments in vaccination front will generate the confidence to go back to normal travel levels. The third quarter and year to date results bring forth our confidence in our strategy and represent focus on discipline in executing our longterm strategic plan. This concludes our prepared remarks, we are ready to answer your questions, operator,