The following is a summary of the Consensus Cloud Solutions, Inc. (CCSI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Consensus Cloud Solutions reported Q1 2024 revenue of $88.1 million, attributed to corporate business and Soho business contributions.

• Adjusted EBITDA saw an increase of 8.7% from Q1 2023, resulting in an EBITDA margin of 54.5%.

• Earnings per share on a non-GAAP base was reported at $1.55, showing a 40.9% increase from the previous year.

• Free cash flows for the first quarter came in at approximately $36 million, reflecting a rise of 21.6% from Q1 2023.

• The firm successfully repurchased an additional $63.5 million of debt, reducing the outstanding debt to $679 million.

Business Progress:

• Strong sign-ups were witnessed for the new Cloud Fax product in the corporate channel.

• A record revenue performance was observed in their corporate business, with revenue of $51.4 million.

• New strategic partnership was established with a leading software company specialised in document delivery and data transfer solutions.

• The company executed its 2024 initiatives successfully, including launching an integrated portal and the AI-powered solution, Clarity.

• The company reaffirm its full year 2024 guidance. It also witnessed success in its upsell program, converting more than 1500 SOHO customers to its Corporate version.

More details: Consensus Cloud Solutions IR

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