Ribbon Communications Financials
This page shows Ribbon Communications (RBBN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Ribbon’s cash-improving but operating-margin-sensitive model shows how flat revenue can still fund the business when cash conversion tightens.
Between FY2022 and FY2025, revenue stayed essentially flat, moving from$820M to$845M . Yet operating cash flow swung from-$26M to$51M , helped by shrinking receivables, which points to better cash conversion and working-capital control rather than a sales-led recovery.
This is a thin-margin operating model: gross margin fell to
The balance sheet is liquid in the short term but not cash-rich: cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Ribbon Communications's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ribbon Communications has an operating margin of -0.4%, meaning the company retains $-0 of operating profit per $100 of revenue. This below-average margin results in a low score of 22/100, suggesting thin profitability after operating expenses. This is down from 2.0% the prior year.
Ribbon Communications's revenue grew a modest 1.3% year-over-year to $844.6M. This slow but positive growth earns a score of 35/100.
Ribbon Communications carries a low D/E ratio of 0.72, meaning only $0.72 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Ribbon Communications's current ratio of 1.44 is below the typical benchmark, resulting in a score of 24/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Ribbon Communications has a free cash flow margin of 3.1%, earning a moderate score of 32/100. The company generates positive cash flow after capital investments, but with room for improvement.
Ribbon Communications generates a 0.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is up from -0.0% the prior year.
Ribbon Communications passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ribbon Communications generates $1296.75 in operating cash flow ($51.4M OCF vs $40K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Ribbon Communications generated $844.6M in revenue in fiscal year 2025. This represents an increase of 1.3% from the prior year.
Ribbon Communications's EBITDA was $57.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 29.1% from the prior year.
Ribbon Communications reported $40K in net income in fiscal year 2025. This represents an increase of 173.1% from the prior year.
Ribbon Communications earned $0.22 per diluted share (EPS) in fiscal year 2025. This represents an increase of 171.0% from the prior year.
Cash & Balance Sheet
Ribbon Communications generated $26.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 6.4% from the prior year.
Ribbon Communications held $96.4M in cash against $324.5M in long-term debt as of fiscal year 2025.
Ribbon Communications had 176M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Margins & Returns
Ribbon Communications's gross margin was 49.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.9 percentage points from the prior year.
Ribbon Communications's operating margin was -0.4% in fiscal year 2025, reflecting core business profitability. This is down 2.4 percentage points from the prior year.
Ribbon Communications's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.
Ribbon Communications's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Capital Allocation
Ribbon Communications invested $178.9M in research and development in fiscal year 2025. This represents a decrease of 0.6% from the prior year.
Ribbon Communications spent $9.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Ribbon Communications invested $25.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 13.1% from the prior year.
RBBN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $162.6M-28.5% | $227.3M+5.5% | $215.4M-2.4% | $220.6M+21.7% | $181.3M-27.9% | $251.4M+19.6% | $210.2M+9.1% | $192.6M |
| Cost of Revenue | $92.9M-12.6% | $106.3M-1.1% | $107.4M-3.5% | $111.3M+12.5% | $98.9M-11.1% | $111.3M+10.6% | $100.6M+6.2% | $94.8M |
| Gross Profit | $69.7M-42.4% | $121.1M+12.1% | $108.0M-1.2% | $109.3M+32.7% | $82.4M-41.2% | $140.1M+27.8% | $109.6M+12.0% | $97.9M |
| R&D Expenses | $44.4M-0.6% | $44.7M-2.6% | $45.9M+2.7% | $44.7M+2.6% | $43.6M-3.3% | $45.0M-1.3% | $45.6M+5.0% | $43.5M |
| SG&A Expenses | $17.0M+5.4% | $16.1M-1.6% | $16.4M-1.6% | $16.6M+9.9% | $15.1M-11.3% | $17.1M-21.0% | $21.6M+44.9% | $14.9M |
| Operating Income | -$31.7M-440.9% | $9.3M+236.5% | $2.8M-34.6% | $4.2M+121.6% | -$19.6M-159.0% | $33.2M+3683.6% | -$927K+52.1% | -$1.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$6.4M+92.8% | -$89.3M-2951.4% | $3.1M+43.5% | $2.2M+389.5% | -$754K-144.5% | $1.7M+5.9% | $1.6M+6.7% | $1.5M |
| Net Income | -$34.5M-169.7% | $49.5M+508.5% | -$12.1M-9.2% | -$11.1M+57.7% | -$26.2M-143.3% | $60.5M+551.1% | -$13.4M+20.2% | -$16.8M |
| EPS (Diluted) | $-0.20 | N/A | $-0.07-16.7% | $-0.06+60.0% | $-0.15 | N/A | $-0.08+20.0% | $-0.10 |
RBBN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-4.3% | $1.2B+9.7% | $1.1B-3.2% | $1.1B+0.4% | $1.1B-2.2% | $1.2B+4.3% | $1.1B+0.8% | $1.1B |
| Current Assets | $408.5M-10.1% | $454.5M+8.6% | $418.4M-3.6% | $433.9M+2.1% | $425.1M-8.3% | $463.7M+11.3% | $416.6M+3.1% | $404.2M |
| Cash & Equivalents | $67.6M-29.9% | $96.4M+28.9% | $74.8M+23.7% | $60.5M-15.1% | $71.2M-18.8% | $87.8M+135.7% | $37.2M-42.3% | $64.6M |
| Inventory | $81.5M+3.4% | $78.8M-1.5% | $80.0M-0.4% | $80.3M+0.8% | $79.6M+0.6% | $79.2M+2.4% | $77.3M-2.4% | $79.2M |
| Accounts Receivable | $204.1M-12.0% | $231.9M+6.2% | $218.3M-12.5% | $249.4M+10.6% | $225.5M-11.5% | $254.7M+2.2% | $249.2M+18.1% | $211.0M |
| Goodwill | $300.9M0.0% | $300.9M0.0% | $300.9M0.0% | $300.9M0.0% | $300.9M0.0% | $300.9M0.0% | $300.9M0.0% | $300.9M |
| Total Liabilities | $740.6M-3.0% | $763.3M+2.4% | $745.2M-3.4% | $771.7M+2.1% | $755.7M-0.3% | $757.9M+5.4% | $719.2M+2.7% | $700.4M |
| Current Liabilities | $298.8M-5.3% | $315.5M+8.1% | $291.9M-6.9% | $313.6M+2.8% | $305.2M-7.2% | $328.9M+12.2% | $293.1M+7.5% | $272.6M |
| Long-Term Debt | $323.0M-0.5% | $324.5M-0.5% | $326.1M-0.5% | $327.6M-0.5% | $329.2M-0.5% | $330.7M-0.5% | $332.4M-0.5% | $334.0M |
| Total Equity | $419.1M-6.7% | $449.0M+24.7% | $360.1M-2.8% | $370.4M-3.0% | $381.8M-5.6% | $404.6M+2.3% | $395.5M-2.3% | $405.0M |
| Retained Earnings | -$1.6B-2.2% | -$1.5B+5.5% | -$1.6B-0.8% | -$1.6B-0.7% | -$1.6B-1.7% | -$1.6B+0.4% | -$1.6B-0.9% | -$1.6B |
RBBN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$22.0M-175.2% | $29.2M+10.4% | $26.5M+3431.9% | -$795K+77.5% | -$3.5M-105.7% | $61.8M+516.0% | -$14.8M-51.9% | -$9.8M |
| Capital Expenditures | $3.1M+55.6% | $2.0M-64.3% | $5.5M-2.6% | $5.7M-53.2% | $12.1M+52.3% | $8.0M-9.5% | $8.8M+184.4% | $3.1M |
| Free Cash Flow | -$25.1M-191.9% | $27.3M+30.1% | $21.0M+423.5% | -$6.5M+58.7% | -$15.7M-129.2% | $53.8M+327.3% | -$23.7M-83.8% | -$12.9M |
| Investing Cash Flow | -$3.1M-55.6% | -$2.0M+64.3% | -$5.5M+2.6% | -$5.7M+53.2% | -$12.1M-52.3% | -$8.0M+11.5% | -$9.0M-180.5% | -$3.2M |
| Financing Cash Flow | -$3.1M+47.6% | -$5.9M+2.6% | -$6.1M-9.2% | -$5.6M-208.0% | -$1.8M+26.7% | -$2.5M+24.6% | -$3.3M-106.7% | $49.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $824K-74.4% | $3.2M-7.9% | $3.5M+52.2% | $2.3M | N/A | N/A | N/A | N/A |
RBBN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.9%-10.4pp | 53.3%+3.1pp | 50.1%+0.6pp | 49.5%+4.1pp | 45.4%-10.3pp | 55.7%+3.6pp | 52.1%+1.3pp | 50.8% |
| Operating Margin | -19.5%-23.6pp | 4.1%+2.8pp | 1.3%-0.6pp | 1.9%+12.7pp | -10.8%-24.0pp | 13.2%+13.7pp | -0.4%+0.6pp | -1.0% |
| Net Margin | -21.2%-43.0pp | 21.8%+27.4pp | -5.6%-0.6pp | -5.0%+9.4pp | -14.5%-38.6pp | 24.1%+30.5pp | -6.4%+2.4pp | -8.7% |
| Return on Equity | -8.2%-19.3pp | 11.0%+14.4pp | -3.4%-0.4pp | -3.0%+3.9pp | -6.9%-21.8pp | 15.0%+18.4pp | -3.4%+0.8pp | -4.2% |
| Return on Assets | -3.0%-7.1pp | 4.1%+5.2pp | -1.1%-0.1pp | -1.0%+1.3pp | -2.3%-7.5pp | 5.2%+6.4pp | -1.2%+0.3pp | -1.5% |
| Current Ratio | 1.37-0.1 | 1.440.0 | 1.43+0.0 | 1.380.0 | 1.39-0.0 | 1.41-0.0 | 1.42-0.1 | 1.48 |
| Debt-to-Equity | 0.77+0.0 | 0.72-0.2 | 0.91+0.0 | 0.88+0.0 | 0.86+0.0 | 0.82-0.0 | 0.84+0.0 | 0.82 |
| FCF Margin | -15.4%-27.4pp | 12.0%+2.3pp | 9.7%+12.7pp | -2.9%+5.7pp | -8.6%-30.0pp | 21.4%+32.7pp | -11.3%-4.6pp | -6.7% |
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Frequently Asked Questions
What is Ribbon Communications's annual revenue?
Ribbon Communications (RBBN) reported $844.6M in total revenue for fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ribbon Communications's revenue growing?
Ribbon Communications (RBBN) revenue grew by 1.3% year-over-year, from $833.9M to $844.6M in fiscal year 2025.
Is Ribbon Communications profitable?
Yes, Ribbon Communications (RBBN) reported a net income of $40K in fiscal year 2025, with a net profit margin of 0.0%.
What is Ribbon Communications's EBITDA?
Ribbon Communications (RBBN) had EBITDA of $57.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ribbon Communications have?
As of fiscal year 2025, Ribbon Communications (RBBN) had $96.4M in cash and equivalents against $324.5M in long-term debt.
What is Ribbon Communications's gross margin?
Ribbon Communications (RBBN) had a gross margin of 49.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ribbon Communications's operating margin?
Ribbon Communications (RBBN) had an operating margin of -0.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ribbon Communications's net profit margin?
Ribbon Communications (RBBN) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ribbon Communications's return on equity (ROE)?
Ribbon Communications (RBBN) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ribbon Communications's free cash flow?
Ribbon Communications (RBBN) generated $26.1M in free cash flow during fiscal year 2025. This represents a -6.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ribbon Communications's operating cash flow?
Ribbon Communications (RBBN) generated $51.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ribbon Communications's total assets?
Ribbon Communications (RBBN) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ribbon Communications's capital expenditures?
Ribbon Communications (RBBN) invested $25.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ribbon Communications spend on research and development?
Ribbon Communications (RBBN) invested $178.9M in research and development during fiscal year 2025.
What is Ribbon Communications's current ratio?
Ribbon Communications (RBBN) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.
What is Ribbon Communications's debt-to-equity ratio?
Ribbon Communications (RBBN) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ribbon Communications's return on assets (ROA)?
Ribbon Communications (RBBN) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ribbon Communications's Piotroski F-Score?
Ribbon Communications (RBBN) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ribbon Communications's earnings high quality?
Ribbon Communications (RBBN) has an earnings quality ratio of 1296.75x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ribbon Communications?
Ribbon Communications (RBBN) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.