John Karnes Email & Phone Number

Madison, Connecticut, United States

Dallas-Fort Worth Metroplex

As the Chief Financial Officer of Quarterhill Inc., I was hired to expand this SaaS-enabled $200M toll road software company in the US, execute the strategic divestiture of its legacy operations, lead a $450M acquisition strategy, and improve legacy financial reporting, systems, and planning processes.► Built a new team of CPA leadership and management over FP&A, M&A, and financial systems ► Implemented NetSuite at a newly acquired $150M subsidiary, revised business processes to boost business performance and compliance-based controls visibility, and saved $850K in SG&A► Launched FP&A planning and forecasting model producing an annual operating budget, 13-week cash forecast, three-year financial plan, and five-year strategic plan to support value creation plan► Negotiated numerous waivers and amendments under the company’s bank credit facility

Houston, Texas, United States

As the Chief Financial Officer of Ontellus, recruited by PE sponsor, I provided the strategic, operational, financial, and M&A leadership to convert this $175M SaaS medical record e-Marketplace organization to an ARR revenue model and double revenues.► Spearheaded conversion of legacy record exchange service to recurring revenue-based eCommerce platform contributing $18M of EBITDA annually over a three-year value creation plan► Integrated zero-based/initiative-driven budgeting and agile forecasting process measuring performance metrics achievement in real-time► Innovated operational costing and financial reporting, including dashboards tracking orders, order value, and cost daily, enabling KPI-to-budget tracking and ROI-driven new logo pricing► Reduced G&A expense by +$1M, refining NetSuite and automating billing and collections► Led the successful acquisition of a leading competitor and 45-day operational integration

Denver, Colorado

As the Chief Financial Officer of Vertafore, I facilitated the highly successful $5.3B exit in 2020 of this Bain/Vista-owned SaaS Insurtech with nearly $600M in revenues and $2.7B in debt by remediating accounting issues and NetSuite deficiencies and implementing best-in-class financial systems facilitating scalability, efficiency, enriched reporting, and compliance. Reduced G&A by $3.3M, improved customer satisfaction by +90%, remediated NetSuite performance, instituted a new accounting team, and automated ordering, billing, and payments.► Achieved IPO readiness, rectifying audit deficiencies to ensure compliance with debt covenants ► Acquired a $180M Hyderabad-based SaaS company and fully integrated operations in 90 days ► Negotiated the $170M expansion of a $2.5B debt facility with +350 capital market participants► Boosted working capital +$10M with an order-to-cash program targeting $50M slow-pay accounts

Denver, Colorado, United States

Acted as the interim Chief Financial Officer of SambaSafety for Abry Partners in this $120M SaaS driver monitor company during the active CEO search.

Houston, Texas, United States

As the Chief Financial Officer of Alert Logic, I achieved IPO readiness, leading a 9-month company sale process for this $120M SaaS cybersecurity provider. Directed a multi-disciplinary team of 65 in accounting, finance, FP&A, revenue operations, contract administration, HR, and IT. ► Introduced a renewal program to increase ARR by 4% and LTV by 220% for affected cohorts► Launched a contract administration function generating a 3% increase in ARR ► Implemented a three-year operating plan and agile forecasting process producing >99% accuracy ► Negotiated a $70M MRR-based, syndicated bank credit agreement to provide working capital► Instituted KPI-driven marketing metrics regime tracking ROI, lead cost/conversion, and CAC

Houston, Texas, United States

As the Chief Financial Officer, General Counsel, and Corporate Secretary of Clearly Petroleum LLC, Inavigated the startup operating company acquiring $500M of distressed portfolio assets to achieve IPO readiness, spearheading a two-step 144A/public offering process before the 2015 oil-price collapse resulting in company restructuring in 2016. ► Initiated the hiring of personnel, enactment of business processes, and raising of initial capital► Administered $280M debt/equity restructuring resulting in a change of control of the company► Accessed additional working capital by negotiating a $175M credit facility ► Reduced the operating budget by +70% to $20M annually and G&A expenses by 120% to $4M

Houston, Texas, United States

As the Chief Financial Officer of KiOR, Iadvanced three capital raises, successful IPO at $1B, and construction of a $350M cellulosic fuels refinery. Revenue scaled at $70M per year, but Renewable Fuels Standard (RFS) changes led to the company going private in 2014. Managed corporate accounting, FP&A, procurement, HR, IT teams, and plant staff.► Negotiated a $2.2B loan under the Obama Administration Department of Energy loan program► Directed a $375M capital expenditure program and $75M operating budget► Led $60M VC funding rounds, $55M follow-on rounds, and $350M of project finance offerings

Houston, Texas, United States

Houston, Texas, United States

As the Chief Financial Officer of Mariner Energy, Inc., I led the company's going public (NYSE: "ME") and increased enterprise value nearly 300% to $3.8 billion through integration of acquired deep-water and Permian Basin assets combined with continuing high-impact acquisitions and accretive public offerings, ultimately resulting in the company's sale closing in 2011.

Houston, Texas, United States

As the Chief Financial Officer of The Houston Exploration Company, I formulated and led strategic plan increasing enterprise value nearly 200% to $1.8 billion for this publicly traded oil gas company (NYSE: "THX") through an innovative strategic split-off transaction from KeySpan Energy, numerous accretive acquisitions, and multiple public offerings, ultimately culminating in the company's sale process in 2006.

Reston, Virginia, United States

As the Chief Financial Officer of CyberCash, I achieved nearly a 100% increase in shareholder value of this global, publicly traded (NASDAQ: "CYCH") e-Commerce Internet payment provider, taking over software development operations in India employing over 400 engineers, rationalizing business units in UK and Asia, closing multiple private equity rounds, and orchestrating the company’s successful sale process to Verisign and First Data in 2001.

Dallas-Fort Worth Metroplex

As General Counsel of Snyder Oil, I led the successful review of strategic alternatives for this multi-billion dollar publicly traded (NYSE: "SNY") oil and gas company with substantial international holdings through its public subsidiaries SOCO International (enterprise value US$2.5 billion) and Cairn Energy (US$1.1 billion), ultimately leading to the company's sale in 1999.

Dallas-Fort Worth Metroplex

As the General Counsel of Pillowtex Corp, I delivered over 50% increase in enterprise value for this multi-billion dollar publicly traded (NYSE: "PTX") home textile manufacturer employing 16,000 workers globally, through a financial recapitalization and acquisition of industry leader Fieldcrest Cannon, culminating in the company's successful change of control in 1997.

Houston, Texas, United States

As the General Counsel (Interim) & Deputy General Counsel of Apache Corporation, I performed the senior-most executive legal, M&A and financial roles in the transformation of this Fortune 500 (NYSE: APA) oil and gas company from a master limited partnership promoter into the US' leading independent oil and gas producer through the roll up of 21 publicly traded MLPs, consummation of over 120 acquisitions ranging up to $550 million, and capital market executions raising over $4.0 billion of public debt and equity.

United States

As an Attorney at Law with Kirkland & Ellis LLP, I advised Boards of leading international clients such as NL Industries, Inc., Citicorp Venture Capital, Kronos GmbH, General Motors, and Contran Corporation. Expertise included corporate governance and stockholder matters, M&A, public debt and equity offerings including IPOs, leveraged buyouts, proxy contests, spin-offs, and going-private transactions.

United States

Series 7

Houston, Texas, United States

Postgraduate Certificate, Artificial Intelligence: Implications For Business Strategy

Doctor Of Law - Jd, Law

Activities and Societies: • Honors Graduate • Associate Editor Southwestern Law Journal • Order of the Coif National Society of Exemplary.

Bachelor Of Business Administration - Bba, Accounting

Activities and Societies: Honor Scholar; Honor Roll and Dean's List Beta Gamma National Honor Society for Accountants

Postgraduate Certificate, Artificial Intelligence For Leaders