Welcome to our dedicated page for Ribbon Communications news (Ticker: RBBN), a resource for investors and traders seeking the latest updates and insights on Ribbon Communications stock.
Ribbon Communications Inc. (Nasdaq: RBBN) is a leading global provider of communications software, IP, and optical networking solutions. Serving a diverse clientele that includes service providers, enterprises, and critical infrastructure sectors, Ribbon is focused on modernizing communication networks for enhanced business outcomes. Their innovative, end-to-end solutions span from core to edge software-centric offerings, cloud-native services, advanced security tools, and analytics, as well as IP and optical networking solutions essential for the rollout of 5G technology.
Ribbon operates primarily through two segments: the Cloud and Edge segment, and the IP Optical Networks segment. The Cloud and Edge segment, which generates the majority of the company's revenue, offers secure and reliable software and hardware solutions for VoIP communications and Voice Over LTE, addressing the needs of both service providers and enterprise customers. Meanwhile, the IP Optical Networks segment focuses on delivering robust networking solutions that aid in the seamless transition to 5G.
Ribbon's latest initiatives highlight its commitment to innovation and customer engagement. Recently, the company hosted the Ribbon Tech Forum in Plano, Texas, bringing together industry experts to discuss cutting-edge trends and best practices. Additionally, Ribbon announced a significant partnership with BroadSource to integrate its SBC SWe technology into BroadSource's PCI-DSS compliant SecureCall payment system, enhancing secure payment processes over the phone.
Financially, Ribbon reported significant improvements for the full year 2023 with a total revenue of $826 million, up from $820 million in 2022. The company also showed a marked increase in adjusted non-GAAP EBITDA, which rose to $91 million, reflecting a 41% year-over-year improvement. Looking forward, Ribbon projects continued growth and profitability, supported by strategic initiatives and new customer engagements.
Environmental, Social, and Governance (ESG) principles are deeply embedded in Ribbon's operations, underscored by their annual Sustainability Report. This commitment ensures that Ribbon not only pursues business success but also contributes positively to societal and environmental well-being.
To stay updated on the latest developments and financial performance of Ribbon Communications Inc., visit their official site at rbbn.com.
Orion Innovation has announced a strategic multi-year agreement with Ribbon Communications (NASDAQ:RBBN) and American Virtual Cloud Technologies (NASDAQ:AVCT). This partnership will enhance Orion's digital product development services, utilizing over 400 engineers from a newly established R&D center in Istanbul. The agreements will expand Orion's capabilities in telecommunications, solidifying its position with blue-chip clients. Orion has recently invested in growth with additional R&D centers in Romania and Turkey, aiming to deepen domain expertise and deliver innovative solutions in Europe and the US.
Ribbon Communications (Nasdaq: RBBN) announced a third amendment to its credit agreement, increasing its Term Loan A by $75 million. This increase, supported by new and existing banks, allows the company to pay off a higher interest Term Loan B. The move is designed to enhance Ribbon's capital structure and improve loan covenant terms. The funding reflects strong market endorsement, bolstering Ribbon's strategy as it aims to become a global technology leader.
Ribbon Communications (Nasdaq: RBBN) announced certification of its Enterprise Session Border Controller (eSBC) portfolio with Twilio Elastic SIP Trunks, enabling Microsoft Teams Direct Routing capabilities. This certification allows enterprises to utilize Teams as their phone system, leveraging Twilio's Elastic SIP Trunking service. The eSBCs offer advanced interoperability and security, with rapid deployment options across cloud platforms like AWS and Azure. Ribbon's solutions enhance bandwidth utilization and ensure continuous calling capabilities during Microsoft 365 outages.
Ribbon Communications (Nasdaq: RBBN) announced the deployment of its Session Border Controller Software Edition (SBC SWe) by Emily Cooperative Telephone, enhancing security and simplifying SIP trunk routing for business customers in Central Minnesota. The SBC SWe provides advanced encryption, Microsoft Teams Direct Routing support, and scalable performance. Ribbon's longstanding relationship with Emily Tel emphasizes its commitment to delivering reliable communications solutions, showcasing industry-leading technology tailored for service providers.
Ribbon Communications reported a strong financial performance for Q4 and FY 2020, with Q4 revenue reaching $244 million, a 52% increase from $161 million in Q4 2019. Total revenue for 2020 was $844 million, up 50% from $563 million in 2019. The acquisition of ECI Telecom contributed significantly, adding $89 million in Q4 and $261 million for the year. The company also achieved record adjusted EBITDA and reported a GAAP net income of $124 million in Q4. For 2021, Ribbon projects revenue between $925 million and $945 million.
Ribbon Communications (Nasdaq: RBBN) announced an Asset Purchase Agreement with Hermon Laboratories to sell its QualiTech division, which provides testing and standardization services. This strategic move allows Ribbon to sharpen its focus on its core IP Optical Networks and Cloud and Edge businesses. Under the agreement, Hermon Laboratories will continue to offer testing services, retaining the QualiTech team. The transaction is pending regulatory approval and is expected to close in Q2 2021.
Ribbon Communications (Nasdaq: RBBN) announced findings from its annual Unified Communications (UC) survey, revealing a substantial rise in interest for UC technology, particularly triggered by the COVID-19 pandemic. Small businesses showed a remarkable 103% increase in deploying Microsoft Teams, while 36% of large companies reported similar growth. Despite advancements, 76% of small, 67% of medium, and 61% of large companies have yet to invest in IP-based communications solutions. The survey indicates a significant market opportunity for IP communications as remote work becomes a lasting trend.
Ribbon Communications (Nasdaq: RBBN) announced that Eastern Slope Rural Telephone upgraded its network using Ribbon's IP and Optical Transport solutions. The Neptune IP Transport and Apollo Optical Transport systems will enhance broadband capacity to meet growing demand and improve speeds for residential and business customers. The project was facilitated through a partnership with KGPCo. Eastern Slope emphasized the need for a reliable, scalable system to support existing services while preparing for future growth.
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