Consensus Cloud Solutions, Inc. reported its financial results for the third quarter of 2024, with total revenue reaching $87.1 million, marking a 1.0% decrease compared to $88.0 million in Q3 2023. The Corporate channel demonstrated strong performance, growing by 5.6% year-over-year to $54.3 million, while the Small Office Home Office (SoHo) channel saw a planned decline of 10.6% to $32.8 million.
The company achieved an Adjusted EBITDA of $47.3 million, resulting in a robust margin of 54.2%, and reported Adjusted Earnings Per Diluted Share of $1.37. Consensus Cloud Solutions generated significant cash flow, with net cash provided by operating activities at $40.9 million and free cash flow at $33.7 million for the quarter.
A key highlight was the continued progress in debt reduction, with $222.6 million face value of senior notes repurchased since late 2023 for approximately $209 million in cash. This reduced total outstanding debt to approximately $582 million, bringing the company's leverage ratio to 3.1x gross and 2.9x net debt to trailing EBITDA. The company also provided Q4 2024 guidance, projecting revenue between $85 million and $89 million, and reaffirmed its full-year 2024 guidance for revenue between $343 million and $357 million.
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