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J2 Global Reports Record First Quarter 2021 Results & Raises Full Year 2021 Guidance LOS ANGELES 2021 . -- " J2 continues to produce outstanding results across the board , " said Vivek Shah , CEO of J2 Global . " Our strong momentum adds to the considerable excitement within our organization as we prepare to separate into two independent publicly traded companies . " J2 Global , Inc. ( NASDAQ : JCOM ) today reported financial results for the first quarter ended March 31 , FIRST QUARTER 2021 RESULTS Q1 2021 quarterly revenues increased 19.8 % to a Q1 record of $ 398.2 million compared to $ 332.4 million for Q1 2020. On a pro - forma ) basis , Q1 2021 quarterly revenues increased 23.2 % to $ 385.6 million compared to $ 313.0 million for Q1 2020 . Net cash provided by operating activities increased to $ 178.7 million compared to $ 102.0 million for Q1 2020. Q1 2021 free cash flow ( 2 ) increased 60.1 % to $ 152.5 million compared to $ 95.2 million for Q1 2020 . GAAP earnings per diluted share ( 3 ) increased to $ 1.67 in Q1 2021 compared to $ ( 0.13 ) for Q1 2020 . Adjusted non - GAAP earnings per diluted share ( ³ ) ( 4 ) for the quarter increased 55.8 % to $ 2.18 as compared to $ 1.40 for Q1 2020 . On a pro - forma ) basis , Adjusted non - GAAP earnings per diluted share ( ( 4 ) for the quarter increased 60.0 % to $ 2.11 as compared to $ 1.32 for Q1 2020 . GAAP net income increased to $ 77.9 million as compared to $ ( 6.4 ) million for Q1 2020 . Adjusted non - GAAP net income increased by 43.9 % to $ 97.2 million as compared to $ 67.5 million for Q1 2020. On a pro forma basis , Adjusted non - GAAP net income increased by 48.3 % to $ 94.0 million as compared to $ 63.4 million for Q1 2020 . Adjusted EBITDA ( 5 ) for the quarter increased 33.8 % to $ 156.3 million compared to $ 116.8 million for Q1 2020. On a pro forma basis , Adjusted EBITDA ) for the quarter increased 37.5 % to $ 151.5 million compared to $ 110.2 million for Q1 2020 . J2 ended the quarter with approximately $ 511 million in cash , cash equivalents , and investments after deploying approximately $ 8 million during the quarter for prior year acquisitions . Revenues Key financial results for Q1 2021 versus Q1 2020 are set forth in the following table ( in millions , except per share amounts ) . Reconciliations of Adjusted non - GAAP earnings per diluted share , Adjusted EBITDA and free cash flow to their nearest comparable GAAP financial measures are attached to this Press Release . The Pro - Forma Results below exclude Voice assets in Australia , New Zealand , and the United Kingdom that have been sold as well as the Company's B2B Backup business which it expects to sell . Cloud Services Digital Media Total Revenue : ( 1 ) Operating Income Net Cash Provided by Operating Activities Free Cash Flow ( 2 ) GAAP Earnings per Diluted Share ( 3 ) Adjusted Non - GAAP Earnings per Diluted Share ( 3 ) ( 4 ) GAAP Net Income ( Loss ) Adjusted Non - GAAP Net Income Adjusted EBITDA Adjusted EBITDA Margin ( 5 ) ( 5 ) Q1 2021 $ 171.4 $ 226.8 $ 398.2 $ 78.5 $ 178.7 $ 152.5 $ 1.67 $ 2.18 $ 77.9 $ 97.2 $ 156.3 39.3 % Q1 2020 % Change Q1 2021 $ 169.8 $ 162.6 $ 332.4 $ 55.2 $ 102.0 $ 95.2 $ ( 0.13 ) $ 1.40 $ ( 6.4 ) $ 67.5 $ 116.8 35.1 % 0.9 % 39.5 % 19.8 % 42.1 % 75.2 % 60.1 % NM Pro - Forma Results ( 6 ) Q1 2020 55.8 % NM 43.9 % 33.8 % 11.7 % $ 158.8 $ 226.8 $ 385.6 $ 2.11 $ 94.0 $ 151.5 39.3 % $ 150.4 $ 162.6 $ 313.0 $ 1.32 $ 63.4 $ 110.2 35.2 % % Change 5.6 % 39.5 % 23.2 % 60.0 % 48.3 % 37.5 % 11.6 %