Kaleyra, Inc., Reports Financial Results for the Fourth Quarter and Fiscal Year 2019
Summary
NEW YORK & VIENNA, Va.--(BUSINESS WIRE)--Kaleyra, Inc. (NYSE American: KLR) (KLR WS) (“Kaleyra” or the “Company”) a rapidly growing cloud communications software provider delivering a secure system of application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market, today reported its U.S. GAAP financial results for the year ended December 31, 2019. This included becoming a public company by way of a business combination in November 2019 and achieving the full earnout targets of 30% (where the threshold was 24%) revenue and 45% pro forma Adjusted EBITDA year-over-year growth.” Kaleyra provides an end-to-end platform to deliver identity authentication, notifications, secure messaging and connectivity to enterprises worldwide. With our innovative technology, product leadership, global revenue growth as well as a strengthened capital structure as a public company, Kaleyra is poised for significant global growth and shareholder value creation within the consolidating Cloud Communications for Enterprises market by both organic and strategic means.” Due to the uncertain and evolving public health outlook resulting from COVID-19, particularly as it relates to our business in Italy, Kaleyra is currently reviewing its 2020 annual guidance. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Adjusted EBITDA is defined as of any date of calculation, as the consolidated pro forma earnings of Kaleyra and its subsidiaries, before finance income and finance cost (including bank charges), tax, depreciation and amortization, plus (i) transaction expenses, (ii) without duplication of clause (i), severance or change of control payments, (iii) any expenses related to company restructuring, (iv) the Adjusted EBITDA for pre-acquisition period of subsidiaries, (v) any compensation expenses relating to stock options, restricted stock units, restricted stock or similar equity interests as may be issued by Kaleyra or any of its subsidiaries to its or their employees and (vi) any provision for the write down of assets.