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Exhibit 99.1
Endurance International Group Reports 2018 Fourth Quarter
and Full Year Results
Fiscal Year 2018
| GAAP revenue of $1.145 billion |
| Net income of $4.5 million |
| Adjusted EBITDA of $338.1 million |
| Cash flow from operations of $182.6 million |
| Free cash flow of $129.2 million |
| Total subscribers on platform were approximately 4.802 million at December 31, 2018 |
Fourth Quarter 2018
| GAAP revenue of $282.4 million |
| Net income of $12.8 million |
| Adjusted EBITDA of $79.3 million |
| Cash flow from operations of $49.0 million |
| Free cash flow of $23.6 million |
BURLINGTON, MA (February 7, 2019) Endurance International Group Holdings, Inc. (NASDAQ: EIGI), a leading provider of cloud-based platform solutions designed to help small and
medium-sized businesses succeed online, today reported financial results for its fourth quarter and fiscal year ended December 31, 2018.I am pleased with our financial performance in 2018. The Endurance team made substantial strategic and operational progress while delivering to our 2018 integrated operating plan, commented Jeffrey H. Fox, president and chief executive officer at Endurance International Group. In 2019, we will continue to simplify our operations and maintain focus on increasing the value we deliver to customers on our strategic brands, which we believe provides a foundation for growth.
Full Year and Fourth Quarter 2018 Financial Highlights
| For fiscal year 2018, revenue was $1.145 billion, a decrease of 3 percent compared to $1.177 billion in fiscal 2017. Revenue for the fourth quarter of 2018 was $282.4 million, a decrease of 4 percent compared to $294.2 million in the fourth quarter of 2017. |
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Our amortization expense, which includes amortization of other intangible assets, amortization of deferred financing costs and amortization of net present value of deferred consideration, decreased by $37.9 million from $152.2 million for the year ended December 31, 2017 to $114.3 million for the year ended December 31, 2018.
The decrease was primarily related to lower costs as a result of the Constant Contact 2016 restructuring plan, including lower restructuring costs of $16.8 million, and the inclusion of Constant Contact for a full twelve months in fiscal year 2017.
For two of our reporting units, which represent approximately 3% of our goodwill, we based their fair value entirely upon the income approach, as these two reporting units are experiencing declining cash flows and are expected to continue to experience declines over time.
These reductions in free cash flow were partially offset by lower payments for both interest expense and restructuring costs.
Net income (loss) improved in 2018 as compared to 2017, due primarily to decreases in amortization expense, impairment charges, stock-based compensation expense, restructuring charges, net interest expense, depreciation expense, and lower cost of revenue and lower operating expense, all of which were partially offset by lower revenue and lower income tax benefit.
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Approximately 40% of our domain...Read more
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Endurance International Group Holdings, Inc. provided additional information to their SEC Filing as exhibits
Ticker: EIGI
CIK: 1237746
Form Type: 10-K Annual Report
Accession Number: 0001628280-19-001696
Submitted to the SEC: Thu Feb 21 2019 12:24:52 PM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Prepackaged Software