Fusion Connect, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides CapEx Guidance for the Year 2018
Fusion Connect, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. Total revenue in the first quarter of 2018 was $29.0 million, compared to $28.5 million in the first quarter of 2017. Net loss attributable to common stockholders from continuing operations was $4.2 million, or $0.20 per share on a basic and diluted basis, compared to a net loss in the first quarter of 2017 of $4.4 million, or $0.32 per share on a basic and diluted basis. Adjusted EBITDA grew 2% to $3.7 million, compared to $3.6 million reported last year. Capital expenditures totaled $1.0 million. Operating loss was $2.2 million against $1.1 million reported last year. Loss before income taxes was $4.03 million against $3.15 million reported last year. Net loss attributable to common stockholders was $4.4 million against $4.7 million reported last year. EBITDA was $1.3 million against $2.8 million reported last year. Adjusted EBITDA was $3.65 million against $3.6 million reported last year. Fusion's unlevered free cash flow defined as adjusted EBITDA less capital expenditures was $2.7 million in the first quarter of 2018.
The company also expects to remain CapEx-lite postclose, targeting CapEx below 10% of total revenue. This positions the company to generate significant recurring unlevered free cash flow.