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.
Ribbon Communications Inc. (Nasdaq: RBBN) reported its Q2 2024 financial results, showing mixed performance. While revenue decreased to $193 million from $211 million in Q2 2023, the company saw significant improvements in profitability. Net income increased by 21% and Adjusted EBITDA rose by 65% in the first half of 2024 compared to the same period in 2023. The company achieved higher gross margins and lower operating expenses year-over-year.
Despite lower sales, Ribbon projects a strong second half of 2024, driven by growth from U.S. Tier 1, Rural Broadband, Enterprise, and India markets. The company completed a refinancing of its capital structure with a $385 million five-year senior secured credit facility, providing greater liquidity. Ribbon adjusted its full-year 2024 guidance, now expecting revenue between $830 million and $850 million, and Adjusted EBITDA between $105 million and $115 million.
Converge ICT Solutions Inc. (PSE: CNVRG) is partnering with Ribbon Communications Inc. (NASDAQ: RBBN) to implement Ribbon's Apollo optical networking system in the Philippines. This collaboration will enhance Converge's backbone network capacity from 800 Gbps to 1.2 Tbps per channel, tripling the capacity needed for hyperscale applications. The upgrade utilizes Ribbon's 5nm - 140Gbaud transmission chipset, offering superior performance, energy efficiency, and heat management.
Converge CEO Dennis Anthony Uy emphasized that this technology will meet the increasing demand for large-scale capacity amid surging data consumption and cloud-native applications. The implementation includes Ribbon's Muse SDN Domain Orchestration for network optimization. This advancement is expected to result in significant power and cost savings for Converge while improving network reliability, data transfer speeds, and scalability.
Ribbon Communications Inc. (Nasdaq: RBBN) and Brightspeed announced a collaboration to modernize Brightspeed's network infrastructure. Brightspeed, the fourth largest fiber builder in the US, is utilizing Ribbon's comprehensive solutions to upgrade legacy assets while maintaining uninterrupted services. The transformation includes:
1. Deployment of Ribbon's C20 Call Controller, Application Server, SBC, PSX server, and RAMP
2. Implementation of Ribbon's NPT 1250 multi-service access routing platform
3. Replacement of power-hungry legacy equipment with energy-efficient solutions
4. Seamless transition without impacting customers or regulatory compliance
This modernization aims to enhance operational efficiency, flexibility, and capabilities while reducing power consumption and physical footprint. Brightspeed's CTO Brian Bond emphasized the importance of scalability in their fiber broadband network expansion across 160+ communities.
Ribbon Communications (Nasdaq: RBBN) will announce its Q2 2024 financial results after the market closes on July 24, 2024. The company, a global provider of real-time communications technology and IP optical networking solutions, will also host a conference call for the financial community at 4:30 p.m. ET to discuss the results. The call will be available via a live, listen-only webcast on the investor section of the company's website, and a replay will be accessible until August 7, 2024. Domestic callers can dial in at 877-407-2991, and international callers can use 201-389-0925.
Ribbon Communications (Nasdaq: RBBN) announced the closure of a new $385 million senior secured credit facility, including a $350 million term loan and a $35 million revolving credit facility. The proceeds will be used to repay existing debt, redeem Series A Preferred Stock, and cover related fees and expenses, with remaining funds allocated for working capital and general corporate purposes. The loans, maturing on June 21, 2029, will bear interest at SOFR plus 6.25%, adjustable based on net leverage. HPS Investment Partners and WhiteHorse Capital led the arrangement.
The company has issued a full redemption notice for its Series A Preferred Stock, effective June 25, 2024. CFO Mick Lopez expressed confidence in the new capital structure to support profitable growth and flexibility for future opportunities.
Ribbon Communications Inc. and SURF have successfully achieved 800G over an 1,650 km fiber optic link, enabling data-intensive research between research institutes and the Large Hadron Collider. The trial showcased Ribbon's advanced transport solutions, including the Apollo TM800_2 and NPT 2400 metro router.
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