ConvergeOne Holdings, Inc (CVON) Tops Q1 EPS by 7c, Beats on Revenues; Affirms FY18 Guidance

ConvergeOne Holdings, Inc (NASDAQ: CVON) reported Q1 EPS of $0.19, $0.07 better than the analyst estimate of $0.12. Revenue for the quarter came in at $306.3 million versus the consensus estimate of $297.23 million.

First Quarter 2018 Highlights:

• Total revenue of $306.3 million, an increase of 67.4% year-over-year.
• Services revenue of $164.9 million, accounting for 53.8% of total revenue.
• Collaboration revenue of $201.4 million, accounting for 65.7% of total revenue.
• GAAP net income of $8.8 million. GAAP net loss to common shareholders of $116.6 million, which includes $125.4 million of earnout consideration or net loss per diluted share of $2.26. (1)
• Adjusted EBITDA per credit agreement of $28.9 million, an increase of 86.8% year-over-year.
• Adjusted net income of $11.1 million, Adjusted earnings per diluted share ("Adjusted EPS") of $0.19.

2018 Financial Expectations

ConvergeOne management is reaffirming its full year 2018 financial outlook:

• Revenue is expected to be in the range of $1,450 to $1,550 million.
• Gross profit margin is expected to be in the range of 29.5% to 30.5%.
• Adjusted EBITDA per credit agreement is expected in the range of $155 to $165 million.
• Adjusted Net Income is expected to be in the range of $70 to $78 million.
• Adjusted EPS is expected to be in the range of $0.98 to $1.08 based on 72.5 million weighted average shares outstanding on a diluted basis.

GUIDANCE:

ConvergeOne Holdings, Inc sees FY2018 EPS of $0.98-$1.08. ConvergeOne Holdings, Inc sees FY2018 revenue of $1.45-1.55 billion.

For earnings history and earnings-related data on ConvergeOne Holdings, Inc (CVON) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c