Ribbon Communications Q1 revenue $180M, loss narrows; Verizon multi-year deal

Ribbon Communications Inc.

2024-Q1 EPS reported -$0.18 revenue$179,664,000

Revenue $180M vs $186M YoY; GAAP net loss $30M vs $38M; EPS ($0.18) vs ($0.23).
Non-GAAP Adj EBITDA $12M vs ($2M); GAAP and Non-GAAP gross margin improved >700 bps YoY.
Selected by Verizon for multi-year Advanced Voice Network Platform modernization.
IP Optical Networks up 9% YoY for 7th consecutive quarter; EMEA sales up 24% YoY.
Cloud & Edge segment expects return to growth with US Tier 1 spending recovery and new Federal projects.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ribbon Communications Inc. reported first quarter 2024 results: revenue $180 million, net income GAAP Net income (loss) $(30) million, EPS GAAP diluted earnings (loss) per share $(0.18).

Period: first quarter 2024
Revenue: $180 million
Net income: GAAP Net income (loss) $(30) million
EPS: GAAP diluted earnings (loss) per share $(0.18)
Result: reported results

Exact text from the filing

infrastructure operators to modernize and protect their networks, today announced its financial results for the first quarter 2024. Revenue for the first quarter of 2024 was $180 million, compared to $186 million for the first quarter of 2023. First quarter 2024 GAAP Loss from Operations improved $22 million year over year, and Non-GAAP Adjusted EBITDA improved

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Source: SEC EDGAR

accession 0001104659-24-050937

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