Consensus Cloud Solutions, Inc. reported a total revenue of $350.4 million for the fiscal year ending December 31, 2024, a decrease of 3% from $362.6 million in 2023. The decline was primarily attributed to a significant drop in revenue from its Small Office/Home Office (SoHo) segment, which fell by $21.7 million, while Corporate revenue increased by $9.5 million, reflecting organic growth and new customer acquisitions. The company's net income for the year was $89.4 million, up from $77.3 million in the previous year, resulting in a net income margin of 25.5%.
In terms of operational metrics, Consensus served approximately 800,000 customers across 46 countries, with 59,000 classified as Corporate customers. The company reported a monthly churn rate of 3.33% for its consolidated customer base, a slight improvement from 3.43% in 2023. The average revenue per customer account (ARPA) for Corporate customers was $310.67, while SoHo customers generated an ARPA of $14.92. The company’s employee headcount stood at 518 as of December 31, 2024.
Strategically, Consensus has focused on enhancing its product offerings, particularly in the healthcare sector, which remains its largest industry vertical. The company has made significant investments in its technology infrastructure, including the development of its internal-use software, which has seen capitalized costs rise to $88.2 million. Additionally, Consensus has engaged in a debt repurchase program, retiring $144.3 million of its senior notes during 2024, which has contributed to a reduction in interest expenses.
Looking ahead, Consensus Cloud Solutions aims to continue its growth trajectory through both organic and inorganic means, including potential acquisitions that align with its strategic goals. The company has expressed confidence in its ability to generate sufficient cash flow to meet its operational needs and to fund future investments. However, it remains vigilant regarding macroeconomic conditions that could impact its business, including inflationary pressures and global economic volatility.
About Consensus Cloud Solutions, Inc.
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