GTT Communications stock price plunged to its lowest level in more than five years in the aftermath of the company's dismal Q2 earnings reported last week.

"This was a challenging quarter for us as we have not yet returned to organic rep-driven growth," said CEO Richard Calder, according to a transcript.

The company's poor performance has driven the company to employ an adviser to begin liquidating non-essential, non-strategic assets acquired over the course of years of acquisitions. Proceeds from the sale of these assets will be used to pay down the company's debts.

Speaking to analyst Frank Louthan of Raymond James last week, GTT CFO Michael Sicoli assured investors that selling these assets would net the company "north of $100 million." How big a difference this sale will make remains unclear given the company's nearly $3.2 billion in long-term debt.

GTT saw robust growth in the second quarter, with revenues up  33% year over year to $434 million. However revenues were far outpaced by the company's expenditures leading to a net loss of $33 million in Q2, up $6 million from the last quarter but down more than $100 million from the year-ago period.

Sicoli said losses were largely driven by nonrecurring costs including exit and integrations costs.

Despite these challenges, Calder remains confident that the company will return to organic growth in the future. GTT remains focused on providing cloud networking services to larger multinational clients and taking share from incumbent telcos, he said.

Returning to growth will mean bolstering the company's sales force from 320 to 400 by the end of 2019 and 500 by the end of 2020, said Calder. "We need a larger sales force to drive a larger volume of sales and installs," he said, according to a transcript.

While Calder stressed the importance of expanding GTT's sales force he also talked up the successful integration of European telecom company Interoute — which the company purchased in May 2018 for $2.3 billion in cash.

Interoute's acquisition, however, didn't come without some growing pains. GTT is still addressing billing challenges that have cost the company an estimated $6 million in bill credits during the second quarter.

"While Interoute is not the most complex integration we've ever done, it was certainly the largest," Calder said, according to a transcript. The purchase of Interoute is the latest in a lengthy string of acquisitions by GTT. Since 2017, the company has successfully acquired 10 businesses in the telecom space.

GTT is also in the process of acquiring Dutch telco KPN International for $50 million in cash. Calder said GTT is expected to close on the deal by the end of the year and complete integration within two or three quarters.