Ribbon Communications Inc. reports developments in real-time communications technology, secure cloud communications, IP routing and optical networking for service providers, enterprises, critical infrastructure and defense customers. Recurring updates cover quarterly results, bookings commentary, customer network modernization projects, high-capacity optical routes, and products such as Apollo 9608, Muse and the Acumen AIOps platform.
Company news also includes cloud-native voice communications initiatives, including work with Amazon Web Services, as well as investor conference participation and governance changes. Ribbon’s updates commonly connect demand for 5G, broadband, data center interconnect, private optical networks and autonomous-network automation with its communications software and IP Optical portfolio.
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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.