Exhibit 99.1 Ribbon Communications Inc. Reports Second Quarter 2024 Financial Results Net income increased 21% and Adjusted EBITDA up 65% in 1H 2024 YoY Continued improvement in gross margin and lower operating expenses Expect strong second half based on growth from U.S. Tier 1, Rural Broadband, Enterprise, and India July 24, 2024 Conference Call Details: Conference call to discuss the Company's financial results for the second quarter ended June 30, 2024. Date: Wednesday, July 24, 2024 Time: 4:30 p.m. (ET) ...

Net income increased 21% and Adjusted EBITDA up 65% in 1H 2024 YoY Expect strong second half based on growth from U.S. Tier 1, Rural Broadband, Enterprise, and India "Earnings increased significantly in the first half of 2024 with Adjusted EBITDA increasing 65% year over year despite lower sales. The improvement in profitability was driven by higher gross margins and lower operating expenses year over year. Revenue in the second quarter was impacted by a large U.S. Federal deal that was delayed to the third ...

Core Insights - Converge ICT Solutions Inc. is collaborating with Ribbon Communications Inc. to implement the Apollo optical networking system in the Philippines, enhancing data transmission across its backbone network [1][2] - The new technology aims to address the growing demand for large-scale capacity due to increased data consumption and the rise of cloud-native applications [2][12] - The adoption of Ribbon's 5-nm chipset will expand Converge's fiber network capacity from 800 Gbps to 1.2 Tbps per channel, significantly improving performance for hyperscale applications [12][13] Company Overview - Converge ICT Solutions Inc. is the fastest-growing fixed broadband service provider in the Philippines, operating an end-to-end pure fiber internet network [7] - The company has over 705,000 kilometers of fiber optic assets, making it one of the most extensive fiber networks in the country [17] - Converge also offers integrated data center and network solutions, providing a premium digital experience for various customer segments [8] Technological Advancements - Ribbon's 5-nm chipset is noted for its superior performance, energy efficiency, and heat management capabilities, making it a sustainable option for optical networks [3] - Converge is utilizing Ribbon's Muse SDN Domain Orchestration to enhance network capabilities through automation, planning, and real-time control [4] - The collaboration is expected to lead to significant power and cost savings while improving network reliability and data transfer speeds [14] Strategic Partnerships - Converge has also signed a Memorandum of Understanding with Super Micro Computer Inc. to establish AI-powered, green data centers in the Philippines [6] - The partnership with Ribbon Communications is seen as a major step in modernizing Converge's network to meet increasing capacity demands [15]

Brightspeed is leveraging a suite of Ribbon solutions including the C20 Call Controller, Application Server, SBC, PSX centralized policy and routing server, and Ribbon Application Management Platform (RAMP) to modernize its legacy central office equipment and lay the foundation for further innovation. Additionally, Ribbon's NPT 1250 multi-service access routing platform, part of Ribbon's comprehensive Neptune IP Routing portfolio, enables technology convergence for the service provider's legacy assets. Ribb ...

Conference call details Dial-in number (Domestic): 877-407-2991 Replay information: SOURCE Ribbon Communications Inc. The Company will offer a live, listen-only webcast of the conference call via the investor section of its website at investors.ribboncommunications.com, where a replay will also be available shortly following the conference call. Time: 4:30 p.m. ET Instant Telephone Access: Call me™ About Ribbon PLANO, Texas, July 11, 2024 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global p ...

Proceeds will be used to repay outstanding debt under current credit facility and to redeem Series A Preferred Stock HPS Investment Partners, LLC will serve as Administrative Agent under the 2024 Credit Facility and HPS Investment Partners, LLC and WhiteHorse Capital served as joint lead arrangers and bookrunners. About Ribbon Forward-looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 For the quarterly period ended March 31, 2024 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) For the transition period from to ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-38267 RIBBON COMMUNICATIONS INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Financial Data and Key Metrics Changes - In Q1 2024, Ribbon generated revenues of $180 million, a decrease of 3.5% year-over-year [22] - Non-GAAP gross margin was 55.1%, an increase of 700 basis points from the prior year [22] - Adjusted EBITDA was $12 million, a significant improvement from a loss of $2 million in the previous year [23] Business Line Data and Key Metrics Changes - Cloud & Edge business revenue was $102 million, down 11% year-over-year, primarily due to lower product sales at US Tier 1 service providers [24] - IP Optical Networks revenue increased to $78 million, a 9% increase year-over-year, with non-GAAP gross margin improving to 41% [25] - Software content in product sales grew from 25% to 29% year-over-year, contributing to higher margins [7] Market Data and Key Metrics Changes - EMEA region sales increased by 24% year-over-year, contributing to strong gross margins exceeding 40% in the IP optical segment [12] - Sales in the Asia-PAC region remained stable, with key customers in India showing slight declines [15] - In the Americas, IP Optical sales increased in Canada and Latin America, while US rural broadband shipments were lower due to timing issues [16] Company Strategy and Development Direction - The company is focused on leveraging long-term relationships to diversify and grow its business, particularly in the government and defense sectors [30] - Ribbon is investing in innovation, particularly with the new Apollo 9400 platform, which is expected to significantly expand its addressable market [32] - The company aims to achieve sustainable profitability in its IP optical business and return to growth in its telco voice infrastructure business [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth and improved profitability, particularly with the new Verizon program expected to ramp up in the second half of the year [29] - The company anticipates a strong second half of 2024, driven by improvements in both Cloud Managed and IP Optical segments [36] - Management noted that while federal funding processes can be distracting, they have not seen any programs being unfunded or canceled [75] Other Important Information - The company ended the quarter with $31 million in cash and cash equivalents, an increase of $4 million from the end of 2023 [26] - Ribbon has started a refinancing process for its capital structure, receiving favorable ratings from Moody's and S&P [27] Q&A Session Summary Question: What type of gross margin should be assumed for the Verizon program? - Management indicated that the gross margin may vary but is expected to be below the current high 60s level due to a higher content of hardware and services [44] Question: What is the revenue run rate for Verizon compared to previous years? - Management stated that the new program represents a significant step up from the current run rate, with expectations to exceed $100 million per annum as the program gains momentum [47][49] Question: What opportunities exist in India, particularly with Vodafone Idea? - Management noted that Vodafone has recently completed a successful equity raise and plans to invest heavily in 4G and 5G upgrades, positioning Ribbon as a key supplier [52][53] Question: How does Ribbon's outlook differ from competitors like Ciena regarding optical demand? - Management highlighted that Ribbon's diversification into critical infrastructure and defense segments has helped maintain growth, contrasting with Ciena's focus on large carriers [68] Question: What is the status of federal contracts and funding? - Management confirmed that while federal funding processes can be distracting, they have not seen delays or cancellations, and multiple contracts are progressing [75][76]

Revenue Performance - Revenue for Q1 2024 was $180 million, a decrease from $186 million in Q1 2023[4] - Total revenue for Q1 2024 was $179.664 million, a decrease of 20.6% from $226.401 million in Q4 2023 and a decrease of 3.4% from $186.159 million in Q1 2023[30] - The company projects Q2 2024 revenue between $200 million and $210 million, with Non-GAAP gross margin expected to be between 53.5% and 54.5%[10] - The company projects Q2 2024 revenue to be approximately $205 million, with a range of +/- $5 million, and FY 2024 revenue to be around $855 million, with a range of +/- $15 million[44] Profitability Metrics - GAAP Loss from Operations improved by $22 million year over year, while Non-GAAP Adjusted EBITDA improved by $14 million to $12 million[4] - Gross Margin increased by over 700 basis points year over year, exceeding 40% for the IP Optical Networks segment[4][6] - Gross profit for Q1 2024 was $91.955 million, resulting in a gross margin of 51.2%, compared to 53.8% in Q4 2023 and 43.7% in Q1 2023[30] - GAAP Gross margin for Q1 2024 decreased to 51.2% from 53.8% in Q4 2023 and 43.7% in Q1 2023[40] - Non-GAAP Net income for Q1 2024 was a loss of $1.096 million, compared to a profit of $21.572 million in Q4 2023 and a loss of $2.827 million in Q1 2023[40] - Non-GAAP Adjusted EBITDA for the trailing twelve months reached $104.634 million, up from $90.509 million in the previous quarter and $70.272 million a year ago[42] - Adjusted EBITDA for Q2 2024 is projected to be between $20 million and $25 million[10] - GAAP income (loss) from operations for Q2 2024 is projected at $(2.5) million, with an expected Non-GAAP outlook of $22.5 million[44] Operating Expenses and Cash Flow - Operating expenses totaled $105.441 million in Q1 2024, slightly up from $105.038 million in Q4 2023 and down from $116.591 million in Q1 2023[30] - Cash from operations for Q1 2024 was $13 million, indicating solid order bookings[9] - The company reported a net cash provided by operating activities of $13.100 million in Q1 2024, compared to $11.133 million in Q1 2023[34] - Cash and cash equivalents increased to $30.931 million as of March 31, 2024, up from $26.630 million at the end of 2023[32] Debt and Liabilities - Current liabilities surged to $504.315 million as of March 31, 2024, compared to $341.073 million at the end of 2023, primarily due to the current portion of term debt[32] - The company is currently seeking to refinance its term debt, which is scheduled to mature on March 3, 2025[32] Regional Performance - EMEA region sales grew by 24% year over year across Service Provider and Critical Infrastructure markets[5] - IP Optical Networks segment sales increased by 9% year over year for the seventh consecutive quarter[6] Stock-Based Compensation and Other Expenses - Stock-based compensation for Q1 2024 totaled $4.522 million, down from $4.892 million in Q4 2023 and $5.848 million in Q1 2023[38] - The company incurred litigation costs of $951,000 in Q1 2024, compared to $538,000 in Q4 2023 and $177,000 in Q1 2023[40] - Amortization of acquired intangible assets for Q1 2024 was $13.257 million, slightly up from $13.166 million in Q4 2023 and down from $14.653 million in Q1 2023[40] Shareholder Metrics - The weighted average shares used to compute GAAP diluted earnings per share increased to 172,428 in Q1 2024 from 171,755 in Q4 2023 and 168,541 in Q1 2023[40]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38267 RIBBON COMMUNICATIONS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...