Ribbon Communications Inc. - RBBN STOCK NEWS

Ribbon Communications (RBBN) reported Q3 2024 financial results with revenue of $210 million, up 3.5% year-over-year from $203 million. The Cloud & Edge segment showed strong performance with 11% YoY and 16% QoQ growth. GAAP Loss from Operations was ($1 million), while Non-GAAP Adjusted EBITDA improved to $30 million, representing 14% of sales. GAAP and Non-GAAP Gross Margins were robust at 52% and 55% respectively. For Q4 2024, the company projects revenue between $235-255 million with Non-GAAP gross margin of 55.5-56% and Adjusted EBITDA of $46-52 million.

Ribbon Communications (Nasdaq: RBBN) has been named to Newsweek's 2025 list of America's Greenest Companies. This recognition highlights Ribbon's success in achieving key sustainability goals, including meeting its emissions reduction target seven years early. The company's recent achievements include:

• 33% reduction in Scope 1+2 CO2e emissions compared to 2018
• 17% reduction in waste sent to landfills compared to 2022
• 90% cumulative reduction in equipment and laboratory space
• EcoVadis Silver Sustainability Rating in 2023

Ribbon has also cut electricity consumption by 26% over six years and increased renewable electricity use to 10% of total consumption. The Newsweek list, designed in collaboration with Plant-A Insights Group and GIST Impact, is based on research and analysis of public data from organizations meeting minimum standards set by the European Union.

Ribbon Communications Inc. (Nasdaq: RBBN) has announced inducement equity grants for John Townsend, its newly appointed Chief Financial Officer. The grants, approved by the Board of Directors, include:

1. Time-based RSUs: 128,205 units vesting on October 15, 2025, and 102,564 units vesting in four equal installments through October 15, 2027.

2. Financial Performance PSUs: 230,769 units vesting based on annual financial goals (60% weighting) and relative total shareholder return (40% weighting) from 2025 to 2027.

3. Stock Price PSUs: 314,583 units vesting based on specified stock prices and time passage.

All grants are subject to Mr. Townsend's continued employment. The PSUs can vest up to 200% of the target amount. Upon vesting, all units will be settled in Ribbon's common stock. These awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

Ribbon Communications Inc. (Nasdaq: RBBN) has been chosen as the technology provider for the US Department of Defense Information Services Agency (DISA) Soft Switch Backbone (SSBB) RFP, awarded to ValidaTek, Inc. The SSBB aims to provide a global, secure, and resilient mission-critical voice communications infrastructure for all US Department of Defense branches and agencies.

Ribbon will deliver state-of-the-art voice communication infrastructure components to modernize and secure DISA's communications network, reducing cybersecurity vulnerabilities and lowering operational costs. The company is partnering with Tyto Athene to support ValidaTek in this global technology deployment.

Bill Grabner, Ribbon's Vice President of Federal Markets, emphasized the importance of addressing escalating security threats in the defense community, which legacy phone systems struggle to handle. Ribbon's solutions offer a proven migration path to a modern communications infrastructure, providing updated capabilities and increased security in line with government mandates and unique deployment needs.

Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications technology and IP optical networking solutions, has announced it will report its third quarter 2024 financial results after market close on Wednesday, October 23, 2024. The company will host a conference call with the financial community at 4:30 p.m. ET to discuss the results.

Conference call details include:

• Domestic dial-in: 877-407-2991
• International dial-in: 201-389-0925
• Instant Telephone Access: Call me™
• Live webcast: Available via the Investor Relations website at investors.ribboncommunications.com

Ribbon Communications Inc. (Nasdaq: RBBN) has announced the industry's first demonstration of a compact modular solution supporting 400G ZR+ with upgradability to 800G ZR+ on a single sled at NGON / NetworkX. The live demo operates on Ribbon's 9408 compact modular platform, featuring a density of 25.6T per 2RU and low power consumption of less than 0.07W/G, significantly reducing TCO.

The platform utilizes Acacia's 131Gbaud 800G ZR+ QSFP-DD transceiver with interoperable PCS, powered by its 4nm Delphi DSP. It also supports 5nm-140Gbaud technology for capacity and reach optimized transport including wavelengths up to 1.2T. This innovation aims to enable converged metro and long haul transport on a single sled, enhancing performance and cost efficiencies.

Ribbon Communications Inc. (Nasdaq: RBBN) has announced the appointment of John Townsend as Executive Vice President and Chief Financial Officer, effective November 1, 2024. Townsend, with over 30 years of experience leading financial organizations in the telecommunications industry, will succeed Miguel "Mick" Lopez, who is retiring. Townsend's career includes nine years at Verizon Communications as CFO for various divisions and nearly two decades at Vodafone with multiple regional CFO assignments. Most recently, he served as CFO of Digicel.

Bruce McClelland, Ribbon Communications CEO, expressed confidence in Townsend's ability to deliver profitable growth and value creation. Townsend stated his enthusiasm for joining Ribbon, recognizing the company's strategic vision and potential to capitalize on major industry investments in network transformation.

Ribbon Communications Inc. (Nasdaq: RBBN) has announced that its Executive Vice President and Chief Financial Officer, Miguel "Mick" Lopez, plans to retire in the fourth quarter of 2024 after 40 years in the technology industry. The company has initiated an executive search for a successor, considering both internal and external candidates. Lopez will continue in his role until a replacement is appointed.

CEO Bruce McCleland praised Lopez's contributions since joining Ribbon in 2020, highlighting his role in maturing company operations and executing strategic initiatives, particularly during the Ribbon-ECI integration and recent capital structure refinancing. Lopez expressed pride in the team's achievements and confidence in Ribbon's future growth prospects.

Ribbon Communications Inc. (Nasdaq: RBBN) has released its 2023 sustainability report, highlighting progress on ESG goals. The company achieved its emissions reduction target seven years early, with a 33% reduction in Scope 1+2 CO2e emissions compared to 2018. This was facilitated by a 26% cut in electricity consumption over six years and increasing renewable electricity use to 10% of total consumption.

Ribbon reported on its 'Three by 30' targets:

• 33% reduction in carbon emissions (target: 30% by 2030)
• 17% of management roles held by women (target: 30% by 2025)
• 21% of Tier 1 suppliers audited (target: 30% by 2025)

The company acknowledges more progress is needed on diversity goals, with 26% of new hires being women in 2023. Ribbon continues to focus on hiring and promoting women into leadership positions.