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
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.