Slide 1: Fourth Quarter and Full Year 2024 Preliminary Unaudited Results
Fourth Quarter and Full Year 2024 Preliminary Unaudited Results 2.19.2025
Slide 2: Forward-Looking Statements and Risk Factors
Forward-Looking Statements and Risk Factors Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Industry, Market and Other Data Reform Act of 1995, particularly those regarding our 2025 Financial Guidance. Such forward-look
Slide 3: Business Overview
Business Overview cansensus
Slide 4: Operations and GTM Update Q4 2024 - Corporate Business
Operations and GTM Update Q4 2024 - Corporate Business Business Update • Q4 Corporate revenue up 7.1% $52.9M vs. $49.4M previous year • Revenue retention rate of 100.5% vs 98.8% previous year • Total Corporate Customer Count 59K vs. 54K previous year (record while keeping ARPA stable) • 3.0K+ e-comm
Slide 5: Operations and GTM Update Q4 2024 - SoHo Business
Operations and GTM Update Q4 2024 - SoHo Business Business Update • Q4 SoHo revenue $34.1M vs. $38.3M previous year (slowing decline) • Account base 747K vs. Q3’24 768K • Q4’24 Churn 3.38% vs Q3’24 3.38% GTM update • Continually optimizing SoHo revenue management and marketing initiatives ©2025 Cons
Slide 6: Fourth Quarter and Full Year 2024 Results
Fourth Quarter and Full Year 2024 Results
Slide 7: Corporate Revenue Growth Benefiting From Positive Revenue Retention
Corporate Revenue Growth Benefiting From Positive Revenue Retention Corporate Revenue ($ in M) Quarter Ended Q4’23 Q4’24 YoY $52.9M Accounts 54 59 9.1% 7.1% (000’s) $49.4M YoY Growth(2) ARPA(1) $305.79 $303.58 -0.7% Paid Adds 3 4 64.1% (000’s) LTM Revenue Retention ~60% 98.8% 100.5% +170 bps Q4'23 Q
Slide 8: SoHo Revenue – Performing Ahead of Expectations
SoHo Revenue – Performing Ahead of Expectations SoHo Revenue ($ in M) Quarter Ended Q4’23 Q4’24 YoY Accounts 831 747 -10.1% -11.1% (000’s) $38.3M YoY $34.1M ARPA (1) $15.12 $14.99 -0.8% Paid Adds 57 60 4.8% (000’s) Monthly Account Churn ~60% 3.34% 3.38% -4 bps Q4'23 Q4'24 Paid Adds Increase YoY Amid
Slide 9: Q4 2024 Results
Q4 2024 Results (in $M, except Adjusted EPS) Revenue Adj. EBITDA Adj. EPS(1) $87.8 $87.0 -0.9% $47.2 $1.32 $44.4 $1.11 -6.0% 18.9% 53.8% 51.0% Margin Margin Q4'23 Q4'24 Q4'23 Q4'24 Q4'23 Q4'24 ● Q4’24 Reported Consolidated Revenue decline YoY, -$0.8M or -0.9% ● Adj. EBITDA down -$2.8M or -6.0% YoY,
Slide 10: FY2024 Results
FY2024 Results Revenue Non-GAAP Adj. EBITDA Non-GAAP Adj. EPS(1)(2) $362.6 $188.4 $5.63 -3.4% $186.6 $5.09 $350.4 1.0% 10.6% 51.5% 53.8% Margin Margin 2023 2024 2023 2024 2023 2024 ● FY2024 Reported Consolidated Revenue decline YoY, -$12.2M or -3.4%, primarily driven by an expected decline in our So
Slide 11: Strong Cash Generation Supports Capital Allocation Strategy
Strong Cash Generation Supports Capital Allocation Strategy Bond and Equity Repurchases • Q4’24 bond repurchases of $20.1M face value for ~$20.0M cash • Program to date bond repurchases of $207M in just over a year since program inception • Q4’24 share repurchases of ~$0.3M • Program to date equity
Slide 12: Debt to EBITDA Leverage
Bond Repurchase Program To Date Approaches 3x Target: Total Debt to Adj. EBITDA Leverage Debt to EBITDA Leverage 3.9x 3.6x 3.4x 3.2x 3.2x 3.5x 3.2x 3.1x 2.9x 3.0x 2026 6.0% $279M $261M $259M $256M $249M 2028 6.5% $455M $418M $390M $363M $349M Total Debt(1): $734M $679M $649M $618M $598M 2023YE 2024Q
Slide 13: 2025 Financial Guidance
2025 Financial Guidance cansensus
Slide 14: 2025 Non-GAAP Guidance Assumptions
2025 Non-GAAP Guidance Assumptions Revenue Range Corporate 4.5% to 8.5% SoHo -11.5% to -7.5% Total Revenue -2% to 2% Adjusted EBITDA Adjusted EBITDA Margin 52.2% - 53.2% Other Non-GAAP D&A $17M - $19M Share Count ~20M Interest on Debt $38M Non-GAAP Tax Rate 20.5% - 22.5% Capex $30M - $34M ©2025 Cons
Slide 15: FY2025 and Q1'25 Guidance Provided
FY2025 and Q1’25 Guidance Provided (1) Assumes ~20M shares and 20.5% to 22.5% ETR (2) The annual and quarterly guidance for Adjusted earnings per diluted share excludes any foreign exchange gains or losses. For the year ended December 31, 2024, such exclusion totaled $(0.18) per diluted share. Adjus
Slide 16: Appendix
Appendix cansensus
Slide 17: Consensus Metrics - Consolidated
Consensus Metrics - Consolidated 2023 2024 Consensus Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue by Type |------(in '000s)--------| Fixed Revenues 65,653 66,789 64,836 62,361 61,114 60,151 60,268 59,843 Variable Revenues 25,784 26,001 25,723 25,389 27,029 27,349 27,480 27,135 Fax Revenues 91,438 92,789
Slide 18: Consensus Metrics – Corporate
Consensus Metrics – Corporate 2023 2024 Corporate Fax Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue by Type |------(in '000s)-----| Fixed Revenues 26,852 27,600 27,963 27,154 27,441 27,433 28,493 28,582 Variable Revenues 22,556 22,760 22,468 22,267 23,947 24,289 24,592 24,335 Total Revenues 49,407 50,361
Slide 19: Consensus Metrics – SoHo
Consensus Metrics – SoHo 2023 2024 SOHO Fax Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue by Type |------(in '000s)-----| Fixed Revenues 38,802 39,188 36,873 35,207 33,673 32,718 31,775 31,261 Variable Revenues 3,229 3,241 3,255 3,121 3,082 3,060 2,889 2,801 Total Revenues 42,031 42,429 40,129 38,329 36,7
Slide 20: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation *The prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on Adjusted EBITDA. Adjusted EBITDA as calculated above represents earnings before interest expense, interest income,