Meets key environmental milestone ahead of schedule PLANO, Texas, Aug. 12, 2024 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications technology and IP optical networking solutions to many of the world's largest service providers, enterprises, and critical infrastructure operators to modernize and protect their networks, today released its 2023 sustainability report. The report highlights Ribbon's continued efforts in achieving its sustainability initiative ...

(Mark One) Delaware 82-1669692 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 RBBN The Nasdaq Global Select Market If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $193 million, a decrease of 8.5% year-over-year and below the guidance range [49][88] - Non-GAAP gross margin was 54.4%, a 240 basis point improvement over the prior year [88] - Adjusted EBITDA for the quarter was $22 million, slightly down from the prior year but up $10 million from Q1 [62][56] - Year-to-date profitability increased 65% on an adjusted EBITDA basis compared to 2023 [56] Business Line Data and Key Metrics Changes - IP Optical revenue in Q2 was $82 million, a 4% decrease year-over-year, primarily due to lower sales in Eastern Europe [63][82] - Cloud & Edge revenue was $111 million, a decrease of 12% year-over-year, mainly due to a delayed U.S. Federal defense deal [90] - Non-GAAP adjusted EBITDA for IP Optical was negative $4 million, showing significant improvement year-over-year [91] Market Data and Key Metrics Changes - Sales to India in the first half of 2024 were down approximately 20% year-over-year, but significant growth is expected in the second half [50] - EMEA region, excluding Eastern Europe, saw a 30% year-over-year increase in IP Optical sales [57] - Asia Pacific region outside of India experienced a 32% year-over-year sales increase [57] Company Strategy and Development Direction - The integration of Ribbon and ECI is progressing, creating a strong foundation for growth in 2025 and beyond [4] - The company is focusing on achieving sustainable profitability in the IP Optical business and diversifying sales in enterprise market verticals [71] - Recent industry consolidations, such as the Nokia-Infinera deal, present opportunities for Ribbon to capture market share [54][70] Management's Comments on Operating Environment and Future Outlook - Management expects significant growth in the second half of the year, projecting revenue to increase approximately 25% compared to the first half [66] - The company anticipates a strong second half driven by enterprise and U.S. Federal contracts, with revenue expected to grow more than 50% versus the first half [69] - The suspension of shipments to Eastern Europe is expected to impact revenue by approximately $20 million to $25 million in the second half [28][98] Other Important Information - The company successfully refinanced its credit facility, enhancing its capital structure and liquidity [64][93] - The backlog is currently higher than the total amount shipped in the first half of the year, indicating strong future demand [58] Q&A Session All Questions and Answers Question: What was the impact of Eastern Europe on the second quarter results? - The shortfall from Eastern Europe was approximately $20 million to $25 million, which is expected to be offset by other tailwinds in the second half [102] Question: Can you elaborate on the Verizon and Brightspeed deals? - The Verizon program is off to a great start, and the company expects significant growth from the Brightspeed partnership as they modernize their infrastructure [95][70] Question: How does the company plan to maintain R&D while managing expenses? - The company is focused on sustaining engineering and optimizing costs while ensuring that R&D remains a priority for future growth [104]

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 ...

Company Overview - Ribbon Communications Inc. is a global provider of real-time communications technology and IP optical networking solutions, serving large service providers, enterprises, and critical infrastructure operators [4][6] - The company focuses on modernizing and protecting networks to improve competitive positioning and business outcomes in a data-driven environment [6] Financial Reporting - The company will report its financial results for the second quarter of 2024 after the market closes on July 24, 2024 [4] - A conference call will be held at 4:30 p.m. ET on the same day to discuss the financial results with the financial community [4][5] Conference Call Details - The conference call will be accessible via a domestic dial-in number (877-407-2991) and an international dial-in number (201-389-0925) [5] - A replay of the conference call will be available until August 7, 2024, with specific access numbers provided for both domestic and international callers [5]

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 ...