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 (RBBN) reported a 20% revenue increase in its IP Optical Networks segment for Q3 2022, totaling $207 million, slightly down from $210 million a year earlier. The bookings-to-revenue ratio improved significantly to 1.28x, with a notable 1.45x for IP Optical Networks. Gross margins rose by 10 percentage points sequentially, although GAAP net loss decreased to $18 million. Looking ahead, Q4 2022 revenue is projected between $220 million to $240 million.
Ribbon Communications (Nasdaq: RBBN) announced the certification of its Session Border Controllers (SBCs), including SBC 5400, SBC SWe, SBC SWe Edge, SBC 1000, and SBC 2000, for Google's SIP Link, enhancing Google Cloud's telephony services for global business customers. This collaboration aims to improve connectivity and security across business communications and support hybrid work environments. Tony Scarfo, EVP, emphasized the significance of SIP Link in advancing cloud-based voice services for improved employee productivity worldwide.
Ribbon Communications (Nasdaq: RBBN) has been awarded a network modernization project by MEPSO, the electricity transmission operator in Macedonia, in partnership with Infosoft Systems. This project aims to enhance the network's automation and intelligence, reducing emissions while improving safety and offering new services. By utilizing Ribbon's Neptune, Apollo, and Lightsoft solutions, MEPSO is set to modernize its operations, positioning itself as a leader in the Balkans. This collaboration underscores Ribbon's commitment to delivering advanced technology for critical infrastructures.
Ribbon Communications (Nasdaq: RBBN) is set to report its third-quarter 2022 financial results on October 26, 2022, after market close. Following this, a conference call will be held at 4:30 p.m. ET to discuss the results with the financial community. Investors can access the call through a live webcast on the company's investor relations website, where a replay will also be available later. Ribbon specializes in real-time communications technology and IP optical networking solutions, catering to major service providers and enterprises.
Ribbon Communications (Nasdaq: RBBN) announced its Apollo TM400_2 400G Dual Transponder-Muxponder has received a 4 Diamonds recognition in the 2022 Broadband Technology Report Diamond Technology Reviews. This solution is noted for its compact and low power design, catering to both 400GbE and 100GbE clients, and supports efficient transport over ROADM-based OTN mesh networks. The recognition confirms Ribbon's innovative contributions to the broadband cable industry, highlighting its role in helping service providers lower costs and enhance service availability.
On September 20, 2022, Ribbon Communications (NASDAQ: RBBN) announced its partnership with French telecom provider Paritel to implement its STIR/SHAKEN solution. This initiative aims to comply with the 'Loi Naegelen' set for July 2023, which mandates measures against telephony-based fraud. Paritel's Telecom Infrastructure Manager emphasized the need to restore trust in the phone network, while Ribbon's solutions will enhance security and caller identity verification. This deployment highlights Ribbon's expertise and longstanding relationship with Paritel in the telecom sector.
Ribbon Communications (Nasdaq: RBBN) has appointed Scott Mair, former President of AT&T Networks Engineering and Operations, to its Board of Directors. Mair's extensive experience in 5G mobile networks and cybersecurity is expected to enhance Ribbon's strategic direction. His appointment increases the Board size to nine members, with Mair serving on the Audit and Technology Committees. Ribbon aims to leverage Mair's expertise to strengthen its position in the competitive telecom industry.
Ribbon Communications has announced a successful securities purchase agreement, raising approximately $52 million in a private placement of common stock. Led by Neuberger Berman, major investors include JPMorgan Chase and Swarth Investments. The company will issue about 17,050,000 shares at a price of $3.05 per share, with the transaction expected to close on August 16, 2022. Proceeds will support general corporate purposes, including capital expenditures and debt repayment, enhancing the company's financial flexibility for product development and profitable growth.
Ribbon Communications reported a sequential revenue growth of 19% to $206 million for Q2 2022, up from $173 million in Q1 2022, but down from $211 million in Q2 2021. Despite this, gross margin improved by 600 basis points to 51%. The net loss for the quarter was $30 million, impacted by a non-cash loss of $12 million related to investments. For Q3 2022, the company projects revenue of $210 million to $225 million and expects full-year revenue between $840 million to $870 million.
Ribbon Communications has partnered with Poly and TD SYNNEX to introduce the Get Connected bundle, designed to facilitate the adoption of Microsoft Teams for remote and hybrid work environments. This solution features Ribbon Connect and Poly's CCX 600 desk phones or P15 video bars, allowing seamless voice connectivity.
Available through TD SYNNEX, enterprises can test the solution free for 60 days, aiming to enhance employee productivity and engagement.
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