ConvergeOne Announces Second Quarter 2018 Financial Results
EAGAN, Minn., Aug. 9, 2018 /PRNewswire/ -- ConvergeOne Holdings, Inc. (NASDAQ: CVON) ("ConvergeOne" or the "Company"), a leading global IT services provider of collaboration and technology solutions, today announced financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Highlights:
-- Total revenue of $391.0 million, an increase of 104.4% year-over-year.
-- Services revenue of $193.8 million, accounting for 49.6% of total
revenue.
-- Collaboration revenue of $257.2 million, accounting for 65.8% of total
revenue.
-- GAAP net loss of $7.5 million. GAAP net loss to common shareholders of
$6.0 million, including the presentation effect of $(1.4) million of
earnout consideration related to compensation expense. ((1))
-- Adjusted EBITDA per credit agreement of $45.1 million, an increase of
98.3% year-over-year.
-- Adjusted net income of $22.8 million, Adjusted earnings per diluted
share ("Adjusted EPS") of $0.28.
"We are pleased with our second quarter results, which reflect strong execution across the board including robust growth of our Services and Collaboration revenues and ongoing realization of synergies from recent acquisitions," said John A. McKenna Jr., Chairman and CEO, ConvergeOne. "Our strong first half financial results and momentum in our pipeline and backlog give us increased confidence in our full year outlook. As a result we are reaffirming our 2018 guidance."
Second Quarter 2018 Financial Results:
-- Total revenue for the quarter ended June 30, 2018 was $391.0 million
compared to $191.3 million in the second quarter of 2017.
-- Services revenue for the second quarter of 2018 was $193.8 million,
an increase of 127.7% compared to $85.1 million in the second
quarter of 2017. Services revenue accounted for 49.6% of total
revenue compared to 44.5% in the second quarter of 2017.
-- Technology Offerings revenue for the second quarter of 2018 was
$197.2 million, an increase of 85.6% compared to $106.2 million in
the second quarter of 2017.
-- Gross Profit for the quarter ended June 30, 2018 was $114.3 million
compared to $57.8 million in the second quarter of 2017. Gross margin
for the second quarter of 2018 was 29.2% compared to 30.2% for the
second quarter of 2017.
-- Services gross profit was $69.7 million for the second quarter of
2018, compared to $33.1 million in the second quarter of 2017.
-- Technology Offerings gross profit was $44.6 million for the second
quarter of 2018, compared to $24.7 million in the second quarter of
2017.
-- GAAP net loss was $7.5 million for the quarter ended June 30, 2018,
compared to a GAAP net loss of $11.4 million in the second quarter of
2017. GAAP net loss to common shareholders, including the presentation
effect of $(1.4) million of earnout consideration related to
compensation expense for earnings per share purposes, was $6.0 million
for the quarter ended June 30, 2018, compared to a GAAP net loss of
$11.4 million in the second quarter of 2017.( (1)) Second quarter 2018
GAAP net loss to common shareholders includes $14.7 million of costs
related to the refinancing of the Company's 2017 Term Loan Agreement,
$6.2 million of transaction costs primarily associated with the
integration of recent acquisitions and a $5.1 million non-recurring
adjustment to the Company's previously recorded bargain purchase gain on
the acquisition of Arrow Electronics' Systems Integration Business.
-- Adjusted EBITDA per credit agreement for the quarter ended June 30, 2018
was $45.1 million, an increase of 98.3% compared to Adjusted EBITDA per
credit agreement of $22.7 million in the second quarter of 2017.
-- Adjusted net income for the quarter ended June 30, 2018 was $22.8
million, or $0.28 per diluted share based on 82.3 million
weighted-average diluted common shares outstanding, compared to $2.6
million in the second quarter of 2017.
-- Net cash used in operating activities for the six months ended June 30,
2018 was $1.4 million, and capital expenditures totaled $7.6 million,
compared with cash used in operating activities of $0.8 million and
capital expenditures of $3.9 million for the prior year's period.
Balance Sheet and Liquidity
-- At June 30, 2018, ConvergeOne had $17.5 million in cash, compared to
$13.5 million at the end of 2017. Net of debt issuance costs, total debt
outstanding at June 30, 2018 was $699.8 million, compared to $572.1
million at the end of 2017.
Dividend
-- On August 8, 2018, ConvergeOne's Board of Directors declared a regular
quarterly cash dividend of $0.02 per share to be paid on September 14,
2018 to stockholders of record as of August 24, 2018. ConvergeOne's
Board of Directors anticipates declaring this dividend in future
quarters on a regular basis; however, future declarations are subject to
Board of Directors' approval and may be adjusted as business needs or
market conditions change.
2018 Financial Expectations
ConvergeOne management is reaffirming its full year 2018 financial outlook:
-- Revenue is expected to be in the range of $1,450 to $1,550 million.
-- Gross profit margin is expected to be in the range of 29.5% to 30.5%.
-- Adjusted EBITDA per credit agreement is expected in the range of $155 to
$165 million.
-- Adjusted Net Income is expected to be in the range of $70 to $78
million.
-- Adjusted EPS is expected to be in the range of $0.91 to $1.01 based on
77 million weighted average shares outstanding on a diluted basis.
Earnings Teleconference Information
ConvergeOne will discuss its second quarter 2018 financial results during a teleconference today, August 9, 2018, at 8:00 AM ET. The conference call can be accessed at (866) 777-2509 (domestic) or (412) 317-5413 (international), conference ID# 10122610. A replay of the conference call will be available through 10:00 AM ET August 16, 2018 at (877) 344-7529 (domestic) or (412) 317-0088 (international). The replay passcode is 10122610. The call will also be broadcast simultaneously at https://investor.convergeone.com/. Following the completion of the call, a recorded replay of the webcast will be available on ConvergeOne's website.
About ConvergeOne
Founded in 1993, ConvergeOne is a leading global IT services provider of collaboration and technology solutions for large and medium enterprises with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 9,000 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions to achieve business outcomes. Our investments in cloud infrastructure and managed services provide transformational opportunities for customers to achieve financial and operational benefits with leading technologies. ConvergeOne has partnerships with more than 300 global industry leaders, including Avaya, Cisco, IBM, Genesys and Microsoft to customize specific business outcomes. We deliver solutions with a full lifecycle approach including strategy, design and implementation with professional, managed and support services. ConvergeOne holds more than 6,000 technical certifications across hundreds of engineers throughout North America including three Customer Success Centers. More information is available at www.convergeone.com.
Footnotes
(1) In the first quarter of 2018, the
Company recorded total estimated
earnout consideration of $126.9
million related to the merger of
Forum Merger Corporation and
ConvergeOne, as the March 31, 2018
last twelve months pro forma
EBITDA, as calculated in accordance
with the merger agreement, was in
excess of $155.0 million, and
therefore, the first two tranches
of the earnout have been deemed to
be achieved. The total earnout
consideration was subsequently
adjusted to $125.5 million when the
Earnout shares were actually issued
in May 2018. The earnout
consideration was recorded as an
equity transaction of $124.0
million and compensation expense of
$1.4 million. For accounting
presentation purposes, the equity
portion of the earnout
consideration is reflected as a
reduction of the net income
available to common shareholders.
Forward Looking Statements
This press release includes "forward-looking statements" regarding ConvergeOne with respect to its financial condition, its results of operations, its intended future capital return and its next quarterly cash dividend; the future impact of momentum in its pipeline and backlog; and its financial outlook for 2018. These forward-looking statements reflect ConvergeOne's current views and information currently available. This information is, where applicable, based on estimates, assumptions and analysis that ConvergeOne believes, as of the date hereof, provide a reasonable basis for the information contained herein. Forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "would", "could", "expect", "intend", "plan", "aim", "estimate", "target", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding ConvergeOne's plans, strategies, objectives, targets and expected financial performance.
These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of ConvergeOne. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the possibility that ConvergeOne may be adversely affected by economic, business, and/or competitive factors; (2) ConvergeOne's ability to identify and integrate acquisitions and achieve expected synergies and operating efficiencies in connection with acquired businesses; (3) changes in applicable laws or regulations; and (4) other risks and uncertainties indicated from time to time in the reports ConvergeOne files with the Securities and Exchange Commission ("SEC") including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those vary from forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information, cost savings, synergies and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information herein speaks only as of (1) the date hereof, in the case of information about ConvergeOne, or (2) the date of such information, in the case of information from persons other than ConvergeOne. Except as required under applicable law, ConvergeOne undertakes no duty to update or revise the information contained herein.
Use of Non-GAAP Financial Measures
To supplement the financial measures presented in the Company's press release in accordance with accounting principles generally accepted in the United States ("GAAP"), ConvergeOne also presents the following non-GAAP measures of financial performance: Adjusted EBITDA, Adjusted EBITDA per credit agreement, Adjusted net income, and Adjusted EPS.
A "non-GAAP financial measure" refers to a numerical measure of the Company's historical or future financial performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the Company's financial statements. The Company provides certain non-GAAP measures as additional information relating to its operating results as a complement to results provided in accordance with GAAP and should not be considered a measure of the Company's liquidity. The non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for or superior to, the financial information presented in accordance with GAAP. There are significant limitations associated with the use of non-GAAP financial measures. Further, these measures may differ from the non-GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare the Company's performance to that of other companies.
The Company has presented: Adjusted EBITDA, Adjusted EBITDA per credit agreement, Adjusted net income, and Adjusted EPS as non-GAAP financial measures in this press release. The Company defines adjusted EBITDA as net income (loss) plus (a) total depreciation and amortization, (b) interest expense and other, net, and (c) income tax expense, as further adjusted to eliminate non-cash stock-based compensation expense, acquisition accounting adjustments, transaction costs, and other one-time nonrecurring costs. The Company defines Adjusted EBITDA per credit agreement as Adjusted EBITDA plus (a) Board of Directors related expenses (b) one time and non-recurring process and efficiency improvements, (c) pro forma synergies, and (d) EBITDA per acquisition. The Company defines Adjusted net income as net income (loss) adjusted to exclude (a) amortization of acquisition-related intangible assets, (b) amortization of debt issuance costs, (c) non-cash share-based compensation expense, (d) costs related to debt refinancing, (e) acquisition accounting adjustments, (f) transaction costs, (g) other costs, and (h) the income tax impact associated with the foregoing items. The Company defines Adjusted EPS as Adjusted net income divided by weighted shares outstanding on a diluted basis.
The Company believes the use of non-GAAP financial measures, as a supplement to GAAP measures, is useful to investors in that they eliminate items that are either not part of the Company's core operations or do not require a cash outlay, such as stock-based compensation. ConvergeOne management uses these non-GAAP financial measures when evaluating the Company's operating performance and for internal planning and forecasting purposes. The Company believes that these non-GAAP financial measures help indicate underlying trends in the Company's business, are important in comparing current results with prior period results, and are useful to investors and financial analysts in assessing the Company's operating performance.
The Company has not reconciled its Adjusted EBITDA per credit agreement and Adjusted Net Income 2018 outlook to GAAP net income, or its Adjusted EPS 2018 outlook to GAAP EPS, because the reconciling items between such GAAP and Non-GAAP financial measures cannot be reasonably predicted or accurately forecasted due to the uncertain of timing and the magnitude of the reconciling items, and therefore, is not available without unreasonable effort.
ConvergeOne Holdings, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
As of As of
June 30, December 31,
2018 2017
---- ----
(unaudited)
Assets
Current Assets
Cash $17,529 $13,475
Trade accounts receivable, less
allowances 357,554 289,236
Inventories 25,161 14,717
Prepaid expenses and other current
assets 14,864 9,294
Deferred customer support contract
costs 44,057 35,151
Income tax receivable 20,509 10,576
Total current assets 479,674 372,449
------- -------
Other Assets
Goodwill 331,377 331,456
Finite-life intangibles, net 166,552 173,642
Property and equipment, net 37,217 36,659
Deferred customer support contract
costs, noncurrent 3,420 3,915
Non-current income tax receivable 579 2,620
Total other assets 539,145 548,292
------- -------
Total assets $1,018,819 $920,741
========== ========
Liabilities and Stockholders' Equity (Deficit)
Current Liabilities
Current maturities of long-term debt $6,700 $5,652
Accounts payable 189,770 157,778
Customer deposits 20,580 22,498
Accrued compensation 22,431 34,522
Accrued other 38,267 27,362
Earnout consideration payable 66,000 -
Deferred revenue 91,203 68,127
Total current liabilities 434,951 315,939
------- -------
Long-Term Liabilities
Long-term debt, net of debt issuance
costs and current maturities 693,075 566,424
Deferred income taxes 4,838 18,056
Long-term income tax payable 38 1,563
Deferred revenue and other long-term
liabilities 14,084 13,118
Total long-term liabilities 712,035 599,161
------- -------
Commitments and Contingencies
Stockholders' Equity (Deficit)
Preferred stock, $0.0001 par value; 10,000,000 shares
authorized; no shares issued and
outstanding - -
Common stock, $0.0001 par value; 1,000,000,000 shares
authorized; 76,341,016 shares issued and outstanding as of
June 30, 2018; 39,860,610 shares issued
and outstanding as of December 31,
2017* 8 4
Class B convertible common stock, $0.0001 par value; 16,000,000
nonvoting shares authorized; 6,585,546 nonvoting shares issued
and outstanding as of December 31,
2017* - 1
Subscription receivable from related
party - (1,805)
Additional paid-in capital 48,775 13,464
Accumulated deficit (176,950) (6,023)
Total stockholders' equity (deficit) (128,167) 5,641
-------- -----
Total liabilities and stockholders'
equity (deficit) $1,018,819 $920,741
========== ========
* Retroactively restated for the effect of the reverse recapitalization
ConvergeOne Holdings, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three months ended Six months ended
June 30, June 30,
-------- --------
2018 2017 2018 2017
---- ---- ---- ----
Revenue
Technology offerings $197,162 $106,203 $338,616 $194,168
Services 193,849 85,119 358,736 180,120
Total revenue 391,011 191,322 697,352 374,288
------- ------- ------- -------
Cost of revenue
Technology offerings 152,529 81,544 258,135 150,288
Services 124,154 51,991 236,504 112,920
Total cost of revenue 276,683 133,535 494,639 263,208
------- ------- ------- -------
Gross profit
Technology offerings 44,633 24,659 80,481 43,880
Services 69,695 33,128 122,232 67,200
Total gross profit 114,328 57,787 202,713 111,080
------- ------ ------- -------
Operating expenses
Sales and marketing 51,144 28,079 97,698 58,247
General and administrative 27,767 9,695 56,311 21,604
Transaction costs 6,204 922 12,051 2,035
Depreciation and amortization 12,018 6,959 23,357 13,985
Total operating expenses 97,133 45,655 189,417 95,871
Operating income 17,195 12,132 13,296 15,209
------ ------ ------ ------
Other (income) expense
Interest income (17) (4) (65) (7)
Interest expense 26,507 22,785 37,735 31,781
Preliminary bargain purchase gain 5,085 - (10,973) -
Other expense, net 9 5 26 5
Total other expense, net 31,584 22,786 26,723 31,779
------ ------ ------ ------
Loss before income taxes (14,389) (10,654) (13,427) (16,570)
Income tax (benefit) expense (6,928) 713 (14,772) (2,082)
Net income (loss) (7,461) (11,367) 1,345 (14,488)
------ ------- ----- -------
Earnout consideration 1,436 - (124,005) -
Net loss available to common
shareholders $(6,025) $(11,367) $(122,660) $(14,488)
======= ======== ========= ========
Net loss per common share:
Basic and diluted $(0.08) $(0.29) $(1.93) $(0.36)
====== ====== ====== ======
Weighted average number of shares
outstanding:
Basic and diluted 75,222,455 39,860,619 63,487,614 39,870,980
========== ========== ========== ==========
Cash dividends declared per
common share $0.02 $ - $0.02 $ -
===== ================== ===== ==================
ConvergeOne Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Six months ended
June 30,
--------
2018 2017
---- ----
Cash Flows from Operating Activities
Net income (loss) $1,345 $(14,488)
Adjustments to reconcile net income (loss) to net
cash used in
operating activities:
Preliminary bargain
purchase gain (10,973) -
Depreciation of
property and
equipment in
operating expense 5,258 2,805
Depreciation of
property and
equipment in cost
of revenue 2,792 690
Amortization of
finite-life
intangibles 18,099 11,180
Change in fair value
of acquisition-
related contingent
consideration (956) -
Deferred income
taxes (7,793) (2,492)
Amortization of debt
issuance costs 799 1,755
Loss on
extinguishment of
debt 14,732 13,638
Stock-based
compensation
expense 6,431 330
Other (46) 5
Changes in assets and liabilities, net of business
acquisition in 2018:
Trade accounts
receivable (3,892) 9,773
Inventories (7,809) 1,101
Prepaid expenses,
deferred customer
support contract
costs and other (503) (193)
Income tax
receivable (7,893) -
Accounts payable and
accrued expenses (5,599) (20,904)
Customer deposits (1,919) 1,240
Income tax payable (1,525) (3,846)
Deferred revenue and
other long-term
liabilities (1,910) (1,437)
Net cash used in
operating
activities (1,362) (843)
------ ----
Cash Flows from Investing Activities
Purchases of
property and
equipment (7,595) (3,891)
Acquisition of
business, net of
cash acquired (27,030) -
Net cash used in
investing
activities (34,625) (3,891)
------- ------
Cash Flows from Financing Activities
Proceeds from
revolving credit
agreement 139,000 18,000
Repayment of
revolving credit
agreement (119,000) (18,000)
Proceeds from term
notes, less
discount 670,000 435,700
Payment on long-
term debt (562,325) (414,138)
Payment of deferred
financing costs (9,414) (5,330)
Payment of
extinguishment
charges (5,684) (3,353)
Dividends paid (1,527) -
Repurchase of common
stock - (385)
Proceeds from
subscription
receivable 1,805 -
Proceeds from Forum
cash 147,335 -
Payment of reverse
recapitalization
costs (28,204) -
Payment to former C1
Securityholders (182,847) -
Repurchase of
warrants (9,098) -
Deferred offering
costs - (1,772)
Net cash provided by
financing
activities 40,041 10,722
------ ------
Net increase in cash 4,054 5,988
Cash -beginning of
the period 13,475 9,632
Cash -end of the
period $17,529 $15,620
======= =======
ConvergeOne Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands)
Three Months Ended June 30, Six Months Ended June 30,
--------------------------- -------------------------
2018 2017 2018 2017
---- ---- ---- ----
(in thousands)
Adjusted EBITDA reconciliation:
Net income (loss) $(7,461) $(11,367) $1,345 $(14,488)
Depreciation and amortization (a) 13,351 7,317 26,149 14,675
Preliminary bargain purchase gain 5,085 - (10,973) -
Other expense, net 26,499 22,786 37,696 31,779
Income tax (benefit) expense (6,928) 713 (14,772) (2,082)
EBITDA 30,546 19,449 39,445 29,884
Stock-based compensation expense 45 174 6,431 330
Acquisition accounting adjustments
(b) 1,700 9 3,264 3
Transaction costs (c) 6,204 922 12,051 2,035
Other costs (d) 59 753 394 2,136
Adjusted EBITDA 38,554 21,307 61,585 34,388
Additional Adjustments:
Board of Directors related expense 394 (272) 434 (225)
One time and non-recurring process
and efficiency improvements (e) 2,204 1,694 3,114 2,482
Pro Forma synergies (f) 3,926 - 6,652 1,533
EBITDA per acquisition (g) - - 2,160 -
Adjusted EBITDA per Credit
Agreement $45,078 $22,729 $73,945 $38,178
======= ======= ======= =======
(a) Depreciation and amortization
equals the sum of depreciation and
amortization included in total
operating expenses and
depreciation and amortization
included in total cost of revenue.
(b) Acquisition accounting adjustments
include charges associated with
non-cash acquisition accounting
fair value adjustments to deferred
revenue and deferred customer
support costs.
(c) Transaction costs of (1) $6.2
million for the three months ended
June 30, 2018 include $1.8 million
related to transaction-related
professional fees, including
legal, accounting, tax, and
advisory fees, $3.3 million of
acquisition-related integration
costs, and acquisition-related
expenses of $1.1 million related
to severance charges and employee
retention bonuses, and (2) $0.9
million for the three months ended
June 30, 2017 include acquisition-
related expenses of $0.4 million
related to transaction-related
professional fees and expenses,
and $0.5 million of acquisition-
related integration costs.
(d) Other costs of (1) $0.1 million for
the three months ended June 30,
2018 represent one-time
recruiting expenses, and (2) $.8
million for the three months ended
June 30, 2017 include expenses of
$0.3 million related to severance
and related legal expenses and
$0.5 million related to payments
to Clearlake for advisory and
consulting services pursuant to
its management and monitoring
services agreement.
(e) One time and non-recurring process
and efficiency improvements of
$2.2 million in the three months
ended June 30, 2018 primarily
related to Cloud product
development activities related to
the launch of our Cloud platforms
and costs associated with the
process of going public. One time
and non-recurring process and
efficiency improvements costs for
the three months ended June 30,
2017 include $1.1 million of Cloud
product development activities
related to the launch of our Cloud
platforms, and $0.5 million
related to rating agency fees.
(f) Pro Forma synergies represent
unrealized cost synergies of
acquired companies post-close.
(g) EBITDA per acquisition is the
acquired companies EBITDA prior to
the Company's ownership.
ConvergeOne Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands except per share amounts)
Three Months Ended June 30, Six Months Ended June 30,
--------------------------- -------------------------
2018 2017 2018 2017
---- ---- ---- ----
(in thousands)
Adjusted net income reconciliation:
Net income (loss) $(7,461) $(11,367) $1,345 $(14,488)
Amortization of intangible assets 9,367 5,551 18,099 11,180
Amortization of debt issuance costs 358 849 799 1,755
Preliminary bargain purchase gain 5,085 - (10,973) -
Stock-based compensation expense 45 174 6,431 330
Costs related to debt financing 14,732 13,638 14,732 14,194
Acquisition accounting adjustments 1,700 9 3,264 3
Transaction costs 6,204 922 12,051 2,035
Other costs 59 753 394 2,136
Income tax impact of adjustments (7,339) (7,945) (12,319) (11,026)
Adjusted net income $22,750 $2,584 $33,823 $6,119
======= ====== ======= ======
Adjusted Net Income per share
Adjusted EPS - Basic $0.30 $0.53
====================
Adjusted EPS - Diluted $0.28 $0.48
======================
Weighted average number of shares
outstanding (a)
Basic shares 75,222 63,488
Diluted Shares 82,340 69,909
(a) The weighted average diluted
shares includes the effect of the
common share equivalents for the
quarter. The amount differs from
diluted shares in the financial
statements, as common share
equivalents were excluded for
financial reporting purposes, due
to the anti-dilutive effect since
there was a net loss to common
shareholders. Diluted shares for
Adjusted EPS include approximately
7.1 million of equivalent common
shares representing the liability
for the 2018 and 2019 Earnout Cash
Payments of $66,000,000. If
Clearlake elects to pay the
Earnout in cash, these additional
common share equivalents would not
be included in the calculation of
Adjusted EPS - Diluted.
Contacts:
Media Contact:
Scott Clark
Vice President, Marketing, ConvergeOne
651.393.3957
sclark@convergeone.com
Investor Relations:
Scott MacDonald
651-393-6399
smacdonald@convergeone.com
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SOURCE ConvergeOne Holdings, Inc.
