Our mission is to empower our partners to provide businesses a unified and seamless communications and collaboration platform that enables employees to work better from anywhere. We provide a leading, proprietary cloud-based communications and collaboration platform, purpose-built for our extensive and expanding network of more than 7,000 channel partners and used by a growing base of over 122,000 business customers as of December 31, 2020. Through our platform, our partners provide their customers our comprehensive portfolio of enterprise-grade, seamlessly integrated Unified Communications-as-a-Service (UCaaS) solutions, including our flagship product Intermedia Unite®, as well as a suite of Business Cloud Applications (BCA) that includes cloud-based email, security and productivity applications. Our UCaaS solutions benefit from strong growth as our partners enable businesses to modernize their legacy communications architectures. To incentivize and empower our partners to grow their businesses on our platform, we offer them a highly differentiated Customer Ownership Reseller model, branded CORE™. This model enables them to resell, package and manage our solutions as if they were their own, at highly attractive economic terms while maintaining ownership of their customer relationships. We further differentiate from our competition by providing our partners world-class customer support, J.D. Power-certified five years in a row and with an average monthly Net Promoter Score (NPS) of 83 for the twelve months ended December 31, 2020, and HostPilot®, a comprehensive and intuitive management interface, which allows our partners and end customers to manage our full suite of solutions across users and devices from a single control panel. Our recently launched exclusive strategic partnership with NEC Platforms, Ltd. (a subsidiary of NEC Corporation) and its consolidated organizations (NEC), pursuant to which NEC and its partner network offer our UCaaS solutions for resale to an estimated installed base of approximately 80 million on-premise NEC business phone users, underscores our value proposition to our partners and provides a foundation to significantly accelerate our partner-led growth strategy. We employ a channel-first strategy whereby we distribute our solutions predominantly through our Managed Service Provider (MSP) and Value Added Reseller (VAR) partners as well as through our co-marketing program with Costco Business Services targeted at their membership base of millions of businesses. This broadens our sales reach considerably in our target market of small and medium-sized businesses (SMBs), which rely heavily on channel partners to address their IT needs, as well as our sales reach to enterprise customers. We establish long-term, strategic and mutually beneficial relationships with our partners, providing them with the tools, capabilities and support to effectively sell our solutions, serve their customers and achieve sustainable growth. We believe our approach is significantly more partner-friendly than our competitors’ primary go-to-market approach, which is centered on our competitors owning the end customer relationship themselves, either through direct sales or by limiting their partners to commission-based sales agent roles. The most popular model among our partners is our CORE model, which enables our partners to sell our solutions using their own brand or on a co-branded basis, with their own pricing structure, and potentially as part of a broader solutions package they have assembled. This model allows our partners to retain direct customer and billing relationships with their customers. While we believe the commissions we pay our sales agents are competitive, CORE partners can earn up to five times higher revenue and up to two times higher profit than our sales agents. In addition, we benefit from significant financial and operational leverage as our partners are responsible for the majority of the customer-facing activities including sales, marketing, onboarding, support, billing and collections. Based on a 2019 market study by McKinsey & Company commissioned by us (the 2019 McKinsey Study), 95% of MSPs and VARs prefer the CORE model over the sales agent model. We believe our differentiated CORE model results in high loyalty among our partners, incentivizes them to grow their businesses on our platform and helps us recruit new partners to our platform. In April 2020, we entered into an exclusive strategic partnership with NEC with an initial term of five years, whereby NEC offers our UCaaS solutions for resale on a private label basis, directly and through its own partner network, to its global customer base. NEC’s on-premise business phone base, estimated at approximately 80 million global users, is the largest installed base within the SMB segment and third largest across all customer segments, globally. The NEC partnership provides us with a significant long-term growth opportunity and a platform to expand internationally while also underscoring the strong appeal of our differentiated partnership strategy. Over 400 NEC partners have accepted NEC’s partner agreement to sell our UCaaS solutions under the NEC brand. We expect the number of NEC partners to grow significantly as we continue to strengthen our relationship with NEC and expand our presence globally. We estimate the total addressable market for our UCaaS and BCA solutions to be $67 billion. The fast growth of our UCaaS solutions, with a total addressable market of $47 billion, is primarily driven by our partners using our solutions to upgrade their customers’ legacy communications systems, which are not designed to address the evolving work environment and need for connected, seamless and modern architectures. Gartner Inc. (Gartner) has estimated that of the 445.4 million business telephony users globally, only 105.0 million will have migrated to cloud-based solutions by the end of 2020, representing a penetration rate of 23.6%. Gartner further estimates that in 2024 the number of global business telephony users on cloud-based solutions will be 186.3 million, representing an estimated compound annual growth rate of 15.4%, which provides a strong demand backdrop for our UCaaS solutions. Substantially all of our revenue is recurring from the sale of subscriptions for our solutions predominantly by our partners, who contributed 73.6% of our annualized recurring revenue (ARR) as of December 31, 2020. We own the underlying core technology of our proprietary platform, allowing us to achieve compelling unit economics and strong profit margins. To date we have primarily targeted end-customers in the United States, but are actively expanding our presence internationally by leveraging our partner network, including our recent exclusive partnership with NEC. Our revenue was $251.6 million in the year ended December 31, 2020. Our fast-growing UCaaS Solutions product group, which includes video, voice, chat, contact center, and file backup and collaboration solutions contributed 35% of our total ARR as of December 31, 2020. Our BCA product group, which includes cloud-based email solutions, email protection, archiving and encryption services, file backup and collaboration solutions, productivity services and other services including SIP trunking, contributed 65% of our total ARR as of December 31, 2020. Our net loss was $21.7 million, representing a net loss margin of 8.6%, and our Adjusted EBITDA was $46.7 million, representing an Adjusted EBITDA margin of 18.6% in the year ended December 31, 2020. Intermedia was founded in 1993. We were incorporated in 2016 as Ivy Holding Corp., a Delaware corporation, in connection with the MDP Acquisition. In January 2021, we changed the name of our company to Intermedia Cloud Communications, Inc. Our principal executive offices are located at 100 Mathilda Place, Suite 600, Sunnyvale, California.