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Consensus Cloud Solutions, Inc. (CCSI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Consensus Cloud Solutions, Inc.

CIK: 1866633 Ticker: CCSI

Consensus Cloud Solutions, Inc.
Provides Fourth Quarter 2021 Preliminary Results
Announces Acquisition of Summit Health
Announces VA Contract
Releases 2022 Guidance and Authorizes Share Buyback Program

LOS ANGELES -- Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) today reported preliminary financial results for the fourth quarter 2021, and provided fiscal 2022 financial estimates.

“Our organization has produced solid results during unprecedented times. The separation from Ziff Davis, Inc. (formerly “J2 Global, Inc.”) through the spin transaction was a watershed event for Consensus. As a result, we are now a pure play company setting the strategic direction to deliver sustainable growth.” said Scott Turicchi, CEO of Consensus.

FOURTH QUARTER 2021 HIGHLIGHTS

Preliminary Unaudited Results: These fourth quarter and full year 2020 and 2021 results are preliminary, unaudited, and subject to adjustments. In particular, due to the complexity of the October 7, 2021 spin-off of the Company from Ziff Davis and the related transactions, the presentation of the transaction's impact on the Company's financial statements (including the presentation of continuing and discontinued operations) is still being finalized. Any change to the impact could be material to our GAAP net income from continuing operations and certain balance sheet accounts. As a result of the foregoing, certain information provided herein is subject to change.

Due to the spin, Consensus has classified the historical J2 Cloud Services non-fax assets as discontinued operations in its financial statements for all periods. Results in this press release represent continuing operations, and where appropriate, results from discontinued operations have been disclosed.

In our first quarter as an independent company, Q4 2021 GAAP quarterly revenues increased 4.0% to $89.0 million compared to $85.6 million for Q4 2020.

GAAP net income decreased to $3.6 million in Q4 2021 compared to $4.5 million for Q4 2020.

GAAP earnings per diluted share (1) decreased to $0.18 in Q4 2021 compared to $0.22 for Q4 2020.

Our Q4 2020 financial results do not include certain costs associated with being a standalone public company, the change in the Company’s debt structure and the related income tax effects. As a result, the Company has provided investors with operating results which include pro forma adjustments as discussed below.

Quarterly Adjusted EBITDA (2) for Q4 2021 increased to $51.3 million compared to Q4 2020 pro forma adjusted EBITDA of $50.8 million. Adjusted non-GAAP earnings per diluted share (2)(3) for the quarter increased by to $1.46 compared to pro forma Adjusted non-GAAP earnings per diluted share (2)(3) of $1.36 for Q4 2020.

Consensus ended the quarter with $67.2 million in cash and cash equivalents due to strong operating cash flows generated during the period.


1

The following information was filed by Consensus Cloud Solutions, Inc. (CCSI) on Wednesday, March 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Consensus Cloud Solutions, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Consensus Cloud Solutions, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Income
Condensed Consolidated Statements Of Income (Parenthetical)
Condensed Consolidated Statements Of Stockholders??? (Deficit) Equity
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Business Acquisitions
Business Acquisitions (Allocation Of Aggregate Purchase Price) (Details)
Business Acquisitions (Narrative) (Details)
Business Acquisitions (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Narrative) (Details)
Debt (Summary Of Long-Term Debt) (Details)
Debt (Tables)
Discontinued Operations And Disposition Of Businesses
Discontinued Operations And Disposition Of Businesses (Key Components Of Cash Flows) (Details)
Discontinued Operations And Disposition Of Businesses (Key Components Of Income) (Details)
Discontinued Operations And Disposition Of Businesses (Narrative) (Details)
Discontinued Operations And Disposition Of Businesses (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Equity Incentive And Employee Stock Purchase Plan
Equity Incentive And Employee Stock Purchase Plan (Employee Stock Purchase Plan, Valuation Assumptions) (Details)
Equity Incentive And Employee Stock Purchase Plan (Market-Based Restricted Stock Awards, Valuation Assumptions) (Details)
Equity Incentive And Employee Stock Purchase Plan (Narrative) (Details)
Equity Incentive And Employee Stock Purchase Plan (Restricted Stock And Restricted Stock Unit Award Activity) (Details)
Equity Incentive And Employee Stock Purchase Plan (Tables)
Fair Value Measurements
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Changes In Carrying Amounts Of Goodwill) (Details)
Goodwill And Intangible Assets (Estimated Intangible Assets Amortization Expense) (Details)
Goodwill And Intangible Assets (Intangible Assets Subject To Amortization) (Details)
Goodwill And Intangible Assets (Intangible Assets With Indefinite Lives) (Details)
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Details)
Leases
Leases (Components Of Lease Expense) (Details)
Leases (Maturities Of Operating Lease Liabilities) (Details)
Leases (Narrative) (Details)
Leases (Supplemental Balance Sheet Operating Lease Information) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Recent Accounting Pronouncements
Related Party Transactions
Related Party Transactions (Details)
Revenues
Revenues (Disaggregation Of Revenue) (Details)
Revenues (Narrative) (Details)
Revenues (Tables)
Segment Information
Segment Information (Narrative) (Details)
Segment Information (Revenues And Long-Lived Assets By Geographic Information) (Details)
Segment Information (Tables)
Stockholders' Equity
Stockholders' Equity (Details)

Material Contracts, Statements, Certifications & more

Consensus Cloud Solutions, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CCSI
CIK: 1866633
Form Type: 10-Q Quarterly Report
Accession Number: 0001866633-22-000033
Submitted to the SEC: Mon May 16 2022 4:19:03 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Prepackaged Software

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