Ribbon Communications Stock Price, News & Analysis

Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications technology and IP optical networking solutions, has announced it will report its third quarter 2024 financial results after market close on Wednesday, October 23, 2024. The company will host a conference call with the financial community at 4:30 p.m. ET to discuss the results.

Conference call details include:

• Domestic dial-in: 877-407-2991
• International dial-in: 201-389-0925
• Instant Telephone Access: Call me™
• Live webcast: Available via the Investor Relations website at investors.ribboncommunications.com

Ribbon Communications Inc. (Nasdaq: RBBN) has announced the industry's first demonstration of a compact modular solution supporting 400G ZR+ with upgradability to 800G ZR+ on a single sled at NGON / NetworkX. The live demo operates on Ribbon's 9408 compact modular platform, featuring a density of 25.6T per 2RU and low power consumption of less than 0.07W/G, significantly reducing TCO.

The platform utilizes Acacia's 131Gbaud 800G ZR+ QSFP-DD transceiver with interoperable PCS, powered by its 4nm Delphi DSP. It also supports 5nm-140Gbaud technology for capacity and reach optimized transport including wavelengths up to 1.2T. This innovation aims to enable converged metro and long haul transport on a single sled, enhancing performance and cost efficiencies.

Ribbon Communications Inc. (Nasdaq: RBBN) has announced the appointment of John Townsend as Executive Vice President and Chief Financial Officer, effective November 1, 2024. Townsend, with over 30 years of experience leading financial organizations in the telecommunications industry, will succeed Miguel "Mick" Lopez, who is retiring. Townsend's career includes nine years at Verizon Communications as CFO for various divisions and nearly two decades at Vodafone with multiple regional CFO assignments. Most recently, he served as CFO of Digicel.

Bruce McClelland, Ribbon Communications CEO, expressed confidence in Townsend's ability to deliver profitable growth and value creation. Townsend stated his enthusiasm for joining Ribbon, recognizing the company's strategic vision and potential to capitalize on major industry investments in network transformation.

Ribbon Communications Inc. (Nasdaq: RBBN) has announced that its Executive Vice President and Chief Financial Officer, Miguel "Mick" Lopez, plans to retire in the fourth quarter of 2024 after 40 years in the technology industry. The company has initiated an executive search for a successor, considering both internal and external candidates. Lopez will continue in his role until a replacement is appointed.

CEO Bruce McCleland praised Lopez's contributions since joining Ribbon in 2020, highlighting his role in maturing company operations and executing strategic initiatives, particularly during the Ribbon-ECI integration and recent capital structure refinancing. Lopez expressed pride in the team's achievements and confidence in Ribbon's future growth prospects.

Ribbon Communications Inc. (Nasdaq: RBBN) has released its 2023 sustainability report, highlighting progress on ESG goals. The company achieved its emissions reduction target seven years early, with a 33% reduction in Scope 1+2 CO2e emissions compared to 2018. This was facilitated by a 26% cut in electricity consumption over six years and increasing renewable electricity use to 10% of total consumption.

Ribbon reported on its 'Three by 30' targets:

• 33% reduction in carbon emissions (target: 30% by 2030)
• 17% of management roles held by women (target: 30% by 2025)
• 21% of Tier 1 suppliers audited (target: 30% by 2025)

The company acknowledges more progress is needed on diversity goals, with 26% of new hires being women in 2023. Ribbon continues to focus on hiring and promoting women into leadership positions.

Ribbon Communications Inc. (Nasdaq: RBBN) reported its Q2 2024 financial results, showing mixed performance. While revenue decreased to $193 million from $211 million in Q2 2023, the company saw significant improvements in profitability. Net income increased by 21% and Adjusted EBITDA rose by 65% in the first half of 2024 compared to the same period in 2023. The company achieved higher gross margins and lower operating expenses year-over-year.

Despite lower sales, Ribbon projects a strong second half of 2024, driven by growth from U.S. Tier 1, Rural Broadband, Enterprise, and India markets. The company completed a refinancing of its capital structure with a $385 million five-year senior secured credit facility, providing greater liquidity. Ribbon adjusted its full-year 2024 guidance, now expecting revenue between $830 million and $850 million, and Adjusted EBITDA between $105 million and $115 million.

Converge ICT Solutions Inc. (PSE: CNVRG) is partnering with Ribbon Communications Inc. (NASDAQ: RBBN) to implement Ribbon's Apollo optical networking system in the Philippines. This collaboration will enhance Converge's backbone network capacity from 800 Gbps to 1.2 Tbps per channel, tripling the capacity needed for hyperscale applications. The upgrade utilizes Ribbon's 5nm - 140Gbaud transmission chipset, offering superior performance, energy efficiency, and heat management.

Converge CEO Dennis Anthony Uy emphasized that this technology will meet the increasing demand for large-scale capacity amid surging data consumption and cloud-native applications. The implementation includes Ribbon's Muse SDN Domain Orchestration for network optimization. This advancement is expected to result in significant power and cost savings for Converge while improving network reliability, data transfer speeds, and scalability.

Ribbon Communications Inc. (Nasdaq: RBBN) and Brightspeed announced a collaboration to modernize Brightspeed's network infrastructure. Brightspeed, the fourth largest fiber builder in the US, is utilizing Ribbon's comprehensive solutions to upgrade legacy assets while maintaining uninterrupted services. The transformation includes:

1. Deployment of Ribbon's C20 Call Controller, Application Server, SBC, PSX server, and RAMP
2. Implementation of Ribbon's NPT 1250 multi-service access routing platform
3. Replacement of power-hungry legacy equipment with energy-efficient solutions
4. Seamless transition without impacting customers or regulatory compliance

This modernization aims to enhance operational efficiency, flexibility, and capabilities while reducing power consumption and physical footprint. Brightspeed's CTO Brian Bond emphasized the importance of scalability in their fiber broadband network expansion across 160+ communities.

Ribbon Communications (Nasdaq: RBBN) will announce its Q2 2024 financial results after the market closes on July 24, 2024. The company, a global provider of real-time communications technology and IP optical networking solutions, will also host a conference call for the financial community at 4:30 p.m. ET to discuss the results. The call will be available via a live, listen-only webcast on the investor section of the company's website, and a replay will be accessible until August 7, 2024. Domestic callers can dial in at 877-407-2991, and international callers can use 201-389-0925.