Endurance International Group is set to host the 9th edition of Cloudbazaar online on December 11-12, 2020, focusing on the theme 'Web Pros in a Post Pandemic World'. This virtual event gathers industry leaders to discuss trends in digitization, consumer behavior, and business strategies. Key speakers include executives from major firms like Automattic and Google, emphasizing the importance of digital adaptation for small businesses. The initiative aims to empower web professionals, reflecting the company's commitment to enhance online presence for millions globally.
Endurance International Group Holdings reported a GAAP revenue of $278.4 million for Q3 2020, a 3% increase from Q3 2019. However, net income fell to $6.7 million compared to $7.8 million in the prior year. Adjusted EBITDA decreased by 1% to $78.7 million. The company achieved a significant 33% growth in cash flow from operations to $54.6 million and a 53% increase in free cash flow to $42.6 million. Total subscribers reached approximately 4.965 million, marking an increase from the previous year.
Endurance International Group Holdings has announced a definitive merger agreement to be acquired by Clearlake Capital Group in an all-cash deal valued at approximately $3.0 billion. The acquisition price of $9.50 per share represents a 79% premium over the company's share price before speculation. The transaction is expected to close in the first quarter of 2021 and requires shareholder approval. Clearlake aims to leverage its expertise to drive growth in Endurance's cloud hosting and digital marketing sectors.
Endurance International Group Holdings (NASDAQ:EIGI) announced its Q3 2020 financial results will be released on November 5, 2020, at 7:00 a.m. EST. A conference call will follow at 8:00 a.m. EST, where management will discuss the results. Investors can access the call via telephone or through a webcast available on the company's investor relations site. Endurance provides cloud-based solutions to small businesses, employing over 3,600 staff across several countries. The company encompasses brands such as Constant Contact and Bluehost.
Endurance International Group (NASDAQ: EIGI) has launched the Power Hour series, virtual roundtables designed to support small businesses through discussions on the challenges posed by COVID-19. Each 60-minute session will focus on real-time issues faced by entrepreneurs, enabling participants to share strategies for adaptation and growth. John Orlando, CMO of Endurance, emphasized the importance of evolving their platform to better assist small businesses. This initiative reflects Constant Contact's commitment to helping various sectors, including real estate and retail, navigate the pandemic's impact.
Endurance International Group (EIGI) reported Q2 2020 revenue of $274.0 million, a 1% increase from the previous year. The company achieved a net income of $4.6 million, compared to a net loss of $26.2 million in Q2 2019. Adjusted EBITDA rose 12% to $84.0 million. The firm announced a $35.0 million acquisition of Retention Science, aimed at enhancing its e-commerce services. EIGI expects full-year 2020 revenue around $1.100 billion and adjusted EBITDA of approximately $300 million.
Endurance International Group Holdings (EIGI) reported preliminary results for Q2 2020, highlighting a significant recovery with a net addition of approximately 97,000 subscribers, contrasting last year's loss of 13,000 subscribers. The company achieved Q2 2020 GAAP revenue of $274 million, a slight decrease from $278.2 million in Q2 2019. Cash bookings rose by 5% year-over-year to $281.6 million. Adjusted EBITDA increased to $84 million compared to $76.3 million a year ago. The company also re-introduced its fiscal 2020 guidance, estimating GAAP revenue around $1.1 billion and adjusted EBITDA of approximately $300 million.
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