The following is a summary of the Consensus Cloud Solutions, Inc. (CCSI) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Consensus Cloud Solutions recorded a Q4 2023 revenue of $87.8 million, a 2.7% increase compared to Q4 2022.

• Their EBITDA decreased by 5.1% in 2023, falling within their guidance expectations of 50% to 55%.

• They saw a slight fall in the adjusted non-GAAP EPS, which ended up $5.09, 4.5% lower than the previous period.

• The company saw an increase of cash and cash equivalents to $88.7 million at the end of 2023.

• During 2023, the company repurchased $71.3 million face value bonds and 1.349 million shares, costing them $31 million.

• An improved focus on cash collections led to a 9% increase from slow-paying customers, however, leading to termination of non-paying customers.

• They estimate revenues in the range of $338 million-$353 million, Adjusted non-GAAP EBITDA between $182 million - $194 million, and Adjusted non-GAAP EPS at $5.08 - $5.31 for the year 2024.

• The company generated $77.7 million in free cash flow for the full fiscal year, an increase from $53.1 million in 2022.

• They have targeted an EBITDA growth in 2024, with margins expected to expand approximately 290 basis points.

Business Progress:

• Product 'Clarity' from the company made significant progress, and their offering 'Harmony' is now in production.

• They have a new partnership with Lexmark and successfully managed a customer in the healthcare space, MRO.

• An e-commerce channel tailored for corporate clients led to around 1,000 paid customer adds in the quarter.

• The VA rollout is expected to contribute seven-digit figures in 2024.

• In 2024, strategic sales initiatives are planned with the aim of enhancing customer retention and cross and upsell opportunities.

• They plan to manage the SoHo channel strategically, focusing on customers who can contribute to long-term growth.

• The company has reallocated some marketing money towards its corporate channel and made a significant investment there.

• They are focusing on generating cash and retiring debt, which they expect will increase corporate contribution in 2024.

• Their AI and NLP technology applications for Healthcare-related use cases are well into development and are integrated with many EMR systems.

• The company plans to reduce advertising and marketing costs by approximately two-thirds.

More details: Consensus Cloud Solutions IR

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