Fusion Connect, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. Total revenue in the first quarter of 2018 was $29.0 million, compared to $28.5 million in the first quarter of 2017. Net loss attributable to common stockholders from continuing operations was $4.2 million, or $0.20 per share on a basic and diluted basis, compared to a net loss in the first quarter of 2017 of $4.4 million, or $0.32 per share on a basic and diluted basis. Adjusted EBITDA grew 2% to $3.7 million, compared to $3.6 million reported last year. Capital expenditures totaled $1.0 million. Operating loss was $2.2 million against $1.1 million reported last year. Loss before income taxes was $4.03 million against $3.15 million reported last year. Net loss attributable to common stockholders was $4.4 million against $4.7 million reported last year. EBITDA was $1.3 million against $2.8 million reported last year. Adjusted EBITDA was $3.65 million against $3.6 million reported last year. Fusion's unlevered free cash flow defined as adjusted EBITDA less capital expenditures was $2.7 million in the first quarter of 2018.

The company also expects to remain CapEx-lite postclose, targeting CapEx below 10% of total revenue. This positions the company to generate significant recurring unlevered free cash flow.