Ribbon Communications Inc. - RBBN STOCK NEWS

Ribbon Communications (NASDAQ: RBBN) announced its partnership with SkyLine, a North Carolina telecommunications provider, to implement a comprehensive IP and Optical network solution. This collaboration aims to enhance SkyLine's service capabilities, aligning with their long-standing experience with Ribbon's offerings. SkyLine will leverage Ribbon's state-of-the-art IP Wave solutions and Apollo DWDM Optical Transport platform to achieve greater speeds and simplified management.

Ribbon's solutions are designed for future flexibility, enabling SkyLine to efficiently scale as demand grows. This partnership reflects Ribbon's commitment to providing advanced communication technology, enhancing network performance for service providers.

Ribbon Communications (Nasdaq: RBBN) announced it will release its first quarter 2023 financial results on April 26, 2023, after market close. A conference call will take place at 4:30 p.m. ET the same day to discuss the results, with an accessible live webcast available on their investor website. This announcement reflects the company's ongoing commitment to transparency and engagement with stakeholders.

Ribbon Communications specializes in real-time communications technology and networking solutions, aiming to enhance customer networks for better performance in a data-driven environment. The company provides software-centric solutions and security tools, particularly for 5G infrastructure.

Ribbon Communications Inc. (Nasdaq: RBBN) has completed a private placement of Series A preferred stock and warrants, raising approximately $53.4 million. The financing included participation from major stockholders such as Neuberger Berman, JPMorgan Chase, and Swarth Investments. The net proceeds will be used to prepay $75 million of its Term Loan A. Ribbon issued 55,000 shares of Series A preferred stock at $970 each, alongside warrants for approximately 4.86 million shares of common stock at a 15% premium. This move aims to enhance balance sheet flexibility amidst a diminishing outlook for interest rate increases.

Ribbon Communications (Nasdaq: RBBN) is showcasing its innovative communications and data networking solutions at Enterprise Connect, Booth 427, on March 27, 2023. Focused on facilitating seamless transitions for enterprises facing hybrid work models and digitization, the company emphasizes lowering total costs of ownership and enhancing network security. Ribbon's offerings include cloud migration solutions for major platforms like Teams and Zoom, network security enhancements, and private network capabilities for data center interconnects. The event allows Ribbon to engage with customers and prospects, highlighting its commitment to modernizing critical enterprise infrastructures.

Ribbon Communications announced a private placement financing of Series A preferred stock and warrants, aiming to raise approximately $53.4 million. The company plans to issue 55,000 shares at $970 per share, with warrants exercisable for four years.

Additionally, Ribbon has amended its senior secured credit agreement, allowing for a higher maximum consolidated net leverage ratio and a reduced minimum fixed charge coverage ratio. Ribbon will also prepay $75 million of its Term Loan A, using proceeds from the private placement alongside existing cash.

Ribbon Communications (Nasdaq: RBBN) announced that the closure of Silicon Valley Bank (SVB) will not significantly impact its operations. The company withdrew funds from SVB on March 9, 2023, and expects that customer deposits made after this date will be accessible, following the FDIC's assurance. Ribbon is confident other lenders in its Credit Facility will support any financial needs, allowing uninterrupted operations. The firm emphasizes a diversified strategy for banking relationships, which helps minimize risks. Ribbon continues to monitor the situation while ensuring access to working capital.

Ribbon Communications has launched the Apollo OT9408, a next-generation compact modular transport platform. This platform, available for trials in the first half of 2023, offers industry-leading capabilities, including 1.2T wavelengths for short-haul applications and 19.2T density in a compact 2RU form factor. It provides unparalleled power efficiency, utilizing over 50% less power per gigabit than competitors. The Apollo OT9408 is built for easy deployment and operation, featuring front-to-back cooling and field-replaceable modules. Additionally, it has been recognized in the 2023 Lightwave Innovation Awards and showcased at the OFC Conference.

Ribbon Communications (Nasdaq: RBBN) has expanded its Telco Cloud portfolio by announcing the deployment of its Core SBC, PSX, and RAMP solutions in a cloud-native environment. This innovation aims to reduce deployment costs and enhance network resiliency while aligning with 5G technology. The cloud-native architecture allows service providers to adopt new capabilities at their own pace, leveraging existing skills and tools. Key offerings include the Session Border Controller Cloud Native edition and the Policy and Routing Server Cloud Native edition. Ribbon's commitment to efficiency and operational cost reduction continues to drive its strategy.

Ribbon Communications (RBBN) reported a 13% sequential revenue growth in Q4 2022, totaling $234 million, compared to $231 million in Q4 2021 and $207 million in Q3 2022. Full-year revenue declined to $820 million from $845 million. The company achieved non-GAAP net income of $15 million in Q4 2022, an improvement from $1 million in Q4 2021. Adjusted EBITDA rose 25% quarter-over-quarter to $29 million. Looking ahead, RBBN projects Q1 2023 revenue between $180 million and $190 million and expects full-year revenue of $840 million to $870 million.