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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 reported 7% revenue growth year-over-year, with first-quarter 2023 revenue of $186 million compared to $173 million in Q1 2022.
Notable increases include a 62% rise in Cloud & Edge sales to enterprises and a 13% increase in IP Optical Networks revenue.
The company maintains a positive outlook for 2023, anticipating second-quarter revenue between $205 million and $215 million, alongside improved gross margins and EBITDA projections.
Despite a net loss of $38 million for the quarter, Ribbon made strides in enhancing its capital structure with an $80 million debt repayment and a 4% reduction in operating expenses. Cash reserves stood at $46 million.
Ribbon Communications (Nasdaq: RBBN) announced a partnership with Legos to implement the STIR/SHAKEN solution, ensuring compliance with the French regulatory body ARCEP by the July 2023 deadline. This collaboration aims to enhance call trust and reduce telephony fraud for Legos customers. The STIR/SHAKEN solution will facilitate caller identity authentication and certificate management, while Legos will also integrate Ribbon's core SBC and PSX for improved VoIP services. Ribbon emphasizes the importance of this deployment in safeguarding customer networks against malicious calls. The partnership reflects Ribbon's commitment to adapting to regulatory demands in Europe and the USA.
Ribbon Communications (Nasdaq: RBBN) has partnered with Valley Telecommunications to enhance network capabilities, providing a significant tenfold increase in bandwidth for users in South Dakota. This upgrade utilizes Ribbon's Apollo Optical Transport and Neptune IP Routing solutions, promising to improve broadband services for local residents and businesses. The collaboration will enable Valley Telecommunications to offer enhanced security and diverse services, addressing demands for greater bandwidth and mobile support. This partnership exemplifies Ribbon's commitment to advancing communication technology.
Ribbon Communications (Nasdaq: RBBN) has announced the deployment of Ribbon Connect for Microsoft Teams Direct Routing by kölbi Negocios, a subsidiary of Grupo ICE in Costa Rica. This cloud-based solution aims to streamline the integration of Microsoft Teams for business communications, simplifying the process while reducing costs and complexity. The deployment is expected to enhance customer experience by providing easier access to Teams Phone capabilities for users on the go. Ribbon's Vice President of Sales noted that this partnership positions kölbi Negocios as a leader in the Costa Rican market, offering improved deployment experiences and reducing configuration errors. Ribbon emphasizes its commitment to modernizing network solutions for enterprises globally.
Ribbon Communications (NASDAQ: RBBN) announced it has received a "Top Provider" score in Metrigy's 2023 Customer Experience MetriStar report on Fraud Prevention. This recognition highlights Ribbon's effective fraud prevention solutions, already utilized by over 100 customers. The report is based on a survey of 1,695 participants across 13 countries and ranks ten providers. Ribbon is one of four companies to earn a MetriStar award. Their solutions include a comprehensive Session Border Controller portfolio and voice security analytics. This award is indicative of Ribbon's commitment to delivering measurable business outcomes and modernizing networks for service providers and enterprises.
On April 18, 2023, Ribbon Communications (Nasdaq: RBBN) announced a partnership with JCS Co., Ltd. to distribute its cloud telephony and networking solutions in South Korea. JCS, a seasoned provider of telecommunications solutions, will resell Ribbon Connect for Microsoft Teams Direct Routing and Ribbon's Session Border Controller (SBC) portfolio to large enterprises, SMBs, and government clients. This strategic collaboration aims to enhance communications security and streamline the transition to cloud services, aligning with market trends in unified communications.
Ribbon's offerings are designed to simplify telecom integration with Microsoft Teams, reflecting the company's commitment to support hybrid work environments. This partnership is expected to bolster Ribbon's market presence in a competitive market, benefiting from JCS's established distribution network.
Ribbon Communications (Nasdaq: RBBN) has announced its participation in the MPLS SD & AI NET 2023 conference, showcasing its advanced IP Optical solutions aimed at enhancing network performance and ROI for service providers. The company will feature a live demo of its IP Wave technology and the Muse multi-layer orchestrator, critical for integrating IP routing and optical networking. Additionally, Ribbon intends to highlight its participation in EANTC's MPLS SDN interoperability test to promote an interoperable ecosystem. COO Sam Bucci emphasized the need for agile solutions to help customers address network challenges. Ribbon's David Stokes will present on disaggregation on April 20.
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