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Mar 31, 2024
Consensus Cloud Q1 2024 Earnings Report
Reported record GAAP net income/EPS and non-GAAP net income/non-GAAP EPS, driven by SoHo and Corporate revenues exceeding expectations and cost-saving measures.
Key Takeaways
Consensus Cloud Solutions reported a revenue of $88.1 million for Q1 2024, a decrease of 3.6% compared to Q1 2023. However, the company achieved record GAAP net income and EPS, along with strong Adjusted EBITDA margin and free cash flow growth.
Q1 revenues decreased by 3.6% year-over-year to $88.1 million.
GAAP net income increased to $26.4 million, with GAAP EPS increasing to $1.37.
Adjusted EBITDA increased to $48.1 million, with an Adjusted EBITDA margin of 54.5%.
Free cash flow increased by 21.6% year-over-year to $35.8 million.
Revenue by Segment
Forward Guidance
Consensus Cloud Solutions reaffirmed its full-year 2024 guidance and released Q2 2024 guidance.
Positive Outlook
- Q2 2024 Revenue is expected to be between $84.5 million and $88.5 million.
- Q2 2024 Adjusted EBITDA is expected to be between $46.0 million and $49.0 million.
- Q2 2024 Adjusted non-GAAP earnings per diluted share is expected to be between $1.30 and $1.36.
- Full year 2024 Revenue is expected to be between $338 million and $353 million.
- Full year 2024 Adjusted EBITDA is expected to be between $182 million and $194 million.
Challenges Ahead
- The company is unable to provide a reconciliation of non-GAAP measures to comparable GAAP measures without unreasonable effort due to the uncertainty of predicting certain items.
- Guidance is provided on a non-GAAP basis only.
- Adjusted non-GAAP earnings per diluted share excludes share-based compensation, amortization of acquired intangibles, and certain gains or costs related to non-routine and other matters that are nonrecurring, in each case net of tax.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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