Internap Network Services (INAP) Reports Q1 Loss of $0.70

Internap Network Services (NASDAQ: INAP) reported Q1 EPS of ($0.70), versus ($0.29) reported last year. Revenue for the quarter came in at $74.2 million versus the consensus estimate of $73.99 million.

• Reported Revenue of $74.2 Million up 5.9% Sequentially and 2.9% Year-over-Year
  • Top-line grew from the combination of improved sales productivity and inclusion of SingleHop as of March 1, 2018
• INAP Reorganizes into New Reporting Segments in 2018, INAP US and INAP International
  • INAP US, comprising 77% of Revenue, up 7.2% Sequentially and 2.9% YoY
  • INAP INTL, comprising 23% of Revenue, up 1.9% Sequentially and 2.7% YoY
• GAAP Net Loss of $(14.1) Million, or GAAP Net Loss Margin of (18.9)%, with Adjusted EBITDA of $25.7 Million up 5.3% Sequentially and 19.1% Year-over-Year; Adjusted EBITDA Margin of 34.6% Comparable QoQ and up 470 Basis Points YoY
• Cash Flow from Operations was $3.5 Million, with Capital Expenditures of $6.4 Million
• INAP Completed Repricing of Senior Secured Term Loan, Reducing Interest Rate Margin over LIBOR by 125 Basis Points to L+575, Saving over $5 Million in Run-Rate Interest Expense
• Reaffirming 2018 Outlook for Revenue of $320-$330 Million, Adjusted EBITDA of $105-$115 Million, Capital Expenditures of $40-$45 Million

For earnings history and earnings-related data on Internap Network Services (INAP) click here.

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