Lingo® Announces Q4′ 19 and Full Year 2019 Financial Results
Recent Customer Care and Service Provisioning Success Has Followed
ATLANTA, March 10, 2020 – Lingo Communications, LLC., (“Lingo”) a leading global Cloud/UC communications and managed service provider dedicated to serving the SMB, Carrier and Consumer markets, announced financial results for the fourth quarter and full-year ended December 31, 2019.
“We finished 2019 in a very strong position by largely completing the integration and synergy achievement goals associated with the previously announced acquisitions of Impact Telecom, select Fusion SMB customers and Momentum customers,” stated Brian McClintock, Chief Financial Officer of Lingo.
“Our success in 2019 allows us to begin 2020 with confidence knowing that we have largely completed the integration activities associated with these acquisitions and we have exceeded our original synergy estimates as well, stated Vincent M. Oddo, Executive Chairman of Lingo. “We expect to continue to grow both from an organic and inorganic perspective in 2020.”
Fourth Quarter 2019 Financial Highlights
- Revenue: Total revenue in Q4 ’19 was $33.4 million, up 83% compared to $18.3 million in Q4 ’18. Within total revenue, On-Net revenue was $16.9 million, up 1,200% compared to $1.3 million in Q4 ’18.
- Gross Profit: Gross profit in Q4 ’19 was $13.4 million, up 76% compared to $7.6 million in Q4 ’18. Gross margin percent in Q4 ’19 was 40.0%, compared to 41.5% in Q4 ’18.
- Adjusted EBITDA: Adjusted EBITDA in Q4 ’19 was $6.4 million, up 137% compared to $2.7 million in Q4 ’18.
Full Year 2019 Financial Highlights
- Revenue: Total revenue in 2019 was $145.8 million, up 199% compared to $48.8 million in 2018. Within total revenue, On-Net revenue was $74.1 million, up 2,290% compared to $3.1 million in 2018.
- Gross Profit: Gross profit in 2019 was $57.8 million, up 196% compared to $19.5 million in 2018. Gross margin percent in 2019 was 39.6%, compared to 40.0% in 2018.
- Adjusted EBITDA: Adjusted EBITDA in 2019 was $24.0 million, up 200.0% compared to $8.0 million in 2018.
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Note: % On-Net is defined as the % of customer revenue derived from service that is provided by one of the two Lingo-owned networks defined in the “About Lingo” section below.
Lingo is a leading global Cloud/UC communications and managed service provider to the SMB, Carrier and Consumer markets. Lingo provides modern, efficient, IP-based voice, data, managed services and network services to customers around the globe. Lingo owns both a nationwide IP-based Cloud/UC communications network as well as an expansive North American FG-D network serving many of the largest global Carrier customers. Lingo is proud to provide exceptional 24/7/365 customer care. For additional information, please visit lingo.com.
VP Sales & Marketing