GTT Reports Q1 2020 Financial Results

GTT Communications, Inc. (NYSE: GTT), a global cloud networking provider to multinational clients, has announced its financial results for the quarter ended March 31, 2020, the company said.

First quarter financial highlights:

Revenue for the 1st quarter 2020 increased 0.2% compared to the 4th quarter 2019, and decreased 5.7% compared to the 1st quarter 2019.
Revenue, on a constant currency basis, for the 1st quarter 2020 increased 0.4% compared to the 4th quarter 2019, and decreased 4.4% compared to the 1st quarter 2019.
Net loss was USD 83.3 million for the 1st quarter 2020 compared to a net loss of USD 19.1 million for the 4th quarter 2019, and a net loss of USD 27.3 million for the 1st quarter 2019.
Adjusted EBITDA, on a constant currency basis, for the 1stquarter 2020 decreased 12.8% compared to the 4th quarter 2019, and decreased 25.6% compared to the 1st quarter 2019.
Adjusted EBITDA for the 1st quarter 2020 decreased 13.1% compared to the 4th quarter 2019, and decreased 26.9% compared to the 1st quarter 2019.
Net cash provided by operating activities for the 1st quarter 2020 increased 37.0% to USD 41.5 million compared to USD 30.3 million for the 4th quarter 2019, and increased 157.8% compared to USD 16.1 million for the 1st quarter 2019.
Capital expenditures were USD 22.0 million (5.2% of revenue) for the 1st quarter 2020 compared to USD 24.9 million (5.9% of revenue) for the 4th quarter 2019, and USD 32.1 million (7.1% of revenue) for the 1st quarter 2019.
Free cash flow was a source of cash of USD 19.5 million for the 1st quarter 2020 compared to a source of cash of USD 5.4 million for the 4th quarter 2019, and a use of cash of USD 16.0 million for the 1st quarter 2019.

GTT connects people across organizations, around the world and to every application in the cloud. For more information on GTT (NYSE: GTT), visit www.gtt.net.