RBBN

MKT CAP:$493M

Ribbon Communications Inc.

Market Cap

$493M

Communication Services·Telecommunications Services·🇺🇸 United States·NASDAQ

Communication·Telecommunications·🇺🇸·NASDAQ

Stock Price

$2.74-$0.16 (-5.52%)

Apr 24, 2026

Company Details

Ribbon Communications Inc. provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud...

CEO

Bruce W. McClelland

IPO Date

May 25, 2000

Website

www.ribboncommunications.com

Key Metrics TTM

Revenue

$845M

+1.3% YoY

Net Income

$40M

EPS (Diluted)

$0.22

Free Cash Flow

$26M

Revenue / Share

$4.73

Gross Margin

49.1%

Operating Margin

0.7%

Net Margin

4.7%

FCF Margin

3.1%

P/S

0.6x

P/E

12.4x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 26, 2026

$845M+1.3%EPS $0.22

Q4 2025

Feb 26, 2026

$227M-9.6%EPS $0.50

Q3 2025

Oct 23, 2025

$215M+2.4%EPS -$0.07

Q2 2025

Jul 24, 2025

$221M+14.5%EPS -$0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$173M	$78M	-$32M
Q2 22	$206M	$105M	-$7M
Q3 22	$207M	$104M	-$3M
Q4 22	$234M	$114M	$1M
Q1 23	$186M	$81M	-$35M
Q2 23	$211M	$101M	-$7M
Q3 23	$203M	$104M	$856.0K
Q4 23	$226M	$115M	$20M
Q1 24	$180M	$85M	-$10M
Q2 24	$193M	$91M	-$15.0K
Q3 24	$210M	$110M	-$927.0K
Q4 24	$251M	$140M	$33M
Q1 25	$181M	$82M	-$20M
Q2 25	$221M	$109M	$4M
Q3 25	$215M	$108M	$3M
Q4 25	$227M	$115M	$19M

Valuation

Quarter	P/S	P/E
Q1 22	0.6x	—
Q2 22	0.6x	—
Q3 22	0.5x	—
Q4 22	0.6x	—
Q1 23	0.7x	—
Q2 23	0.6x	—
Q3 23	0.5x	—
Q4 23	0.6x	—
Q1 24	0.7x	—
Q2 24	0.7x	—
Q3 24	0.7x	—
Q4 24	0.9x	—
Q1 25	0.8x	—
Q2 25	0.8x	—
Q3 25	0.8x	—
Q4 25	0.6x	13.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$15M	$12M
Q2 22	-$39M	-$42M
Q3 22	-$18M	-$25M
Q4 22	$16M	$16M
Q1 23	$11M	$9M
Q2 23	-$3M	-$4M
Q3 23	-$12M	-$14M
Q4 23	$20M	$17M
Q1 24	$13M	$10M
Q2 24	-$10M	-$13M
Q3 24	-$15M	-$24M
Q4 24	$62M	$54M
Q1 25	-$4M	-$16M
Q2 25	-$795.0K	-$6M
Q3 25	$26M	$21M
Q4 25	$29M	$27M

Capital Expenditures

Quarter	CapEx
Q1 22	$3M
Q2 22	$3M
Q3 22	$7M
Q4 22	$510.0K
Q1 23	$2M
Q2 23	$2M
Q3 23	$3M
Q4 23	$3M
Q1 24	$3M
Q2 24	$3M
Q3 24	$9M
Q4 24	$8M
Q1 25	$12M
Q2 25	$6M
Q3 25	$6M
Q4 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-10.2%	+0.1%
Q2 22	-2.6%	+7.5%
Q3 22	-1.6%	+1.0%
Q4 22	+1.3%	-33.7%
Q1 23	+7.5%	+7.7%
Q2 23	+2.3%	+2.0%
Q3 23	-1.9%	-3.9%
Q4 23	-3.1%	-11.4%
Q1 24	-3.5%	-14.1%
Q2 24	-8.5%	-11.3%
Q3 24	+3.5%	+4.4%
Q4 24	+11.0%	+5.9%
Q1 25	+0.9%	+5.7%
Q2 25	+14.5%	+12.3%
Q3 25	+2.4%	+0.7%
Q4 25	-9.6%	-4.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	2.5%
Q2 22	$4M	2.1%
Q3 22	$5M	2.3%
Q4 22	$5M	2.2%
Q1 23	$6M	3.1%
Q2 23	$6M	2.9%
Q3 23	$5M	2.4%
Q4 23	$5M	2.2%
Q1 24	$5M	2.5%
Q2 24	$3M	1.8%
Q3 24	$4M	1.9%
Q4 24	$4M	1.6%
Q1 25	$4M	2.4%
Q2 25	$4M	2.0%
Q3 25	$6M	2.7%
Q4 25	$5M	2.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$53M	$13M	$38M
Q2 22	$51M	$13M	$36M
Q3 22	$49M	$12M	$36M
Q4 22	$51M	$13M	$38M
Q1 23	$51M	$14M	$35M
Q2 23	$48M	$14M	$34M
Q3 23	$46M	$13M	$33M
Q4 23	$45M	$14M	$35M
Q1 24	$46M	$15M	$35M
Q2 24	$43M	$15M	$33M
Q3 24	$46M	$22M	$33M
Q4 24	$45M	$17M	$37M
Q1 25	$44M	$15M	$32M
Q2 25	$45M	$17M	$33M
Q3 25	$46M	$16M	$33M
Q4 25	$45M	$16M	$36M

Revenue Segments

Quarter	Cloud and Edge	IP Optical Networks
Q1 22	$110M	$63M
Q2 22	$137M	$69M
Q3 22	$125M	$82M
Q4 22	$137M	$97M
Q1 23	$114M	$72M
Q2 23	$125M	$85M
Q3 23	$116M	$87M
Q4 23	$122M	$104M
Q1 24	$102M	$78M
Q2 24	$111M	$82M
Q3 24	$128M	$82M
Q4 24	$165M	$87M
Q1 25	$108M	$74M
Q2 25	$137M	$84M
Q3 25	$124M	$91M
Q4 25	$142M	$85M

Revenue by Geography

Quarter	Asia Pacific	Emea	Other Geographical Location	United States
Q1 22	$36M	$49M	$12M	$76M
Q2 22	$37M	$54M	$17M	$98M
Q3 22	$34M	$70M	$17M	$87M
Q4 22	$45M	$80M	$17M	$92M
Q1 23	$38M	$54M	$12M	$82M
Q2 23	$44M	$55M	$13M	$99M
Q3 23	$45M	$58M	$14M	$86M
Q4 23	$40M	$95M	$15M	$77M
Q1 24	$30M	$67M	$12M	$71M
Q2 24	$38M	$59M	$14M	$81M
Q3 24	$38M	$50M	$13M	$110M
Q4 24	$45M	$59M	$14M	$134M
Q1 25	$43M	$45M	$10M	$83M
Q2 25	$42M	$52M	$10M	$116M
Q3 25	$43M	$63M	$13M	$97M
Q4 25	$53M	$54M	$14M	$107M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$93M	$0	$93M
Q2 22	$36M	$0	$36M
Q3 22	$56M	$0	$56M
Q4 22	$67M	$0	$67M
Q1 23	$46M	$0	$46M
Q2 23	$35M	$0	$35M
Q3 23	$25M	$0	$25M
Q4 23	$27M	$0	$27M
Q1 24	$31M	$0	$31M
Q2 24	$65M	$0	$65M
Q3 24	$37M	$0	$37M
Q4 24	$88M	$0	$88M
Q1 25	$71M	$0	$71M
Q2 25	$60M	$0	$60M
Q3 25	$75M	$0	$75M
Q4 25	$96M	$0	$96M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	149M	+0.3%	+2.2%
Q2 22	150M	+0.7%	-2.6%
Q3 22	159M	+5.8%	+7.2%
Q4 22	172M	+8.4%	+15.8%
Q1 23	169M	-2.1%	+13.0%
Q2 23	170M	+0.9%	+13.3%
Q3 23	171M	+0.6%	+7.7%
Q4 23	173M	+1.1%	+0.5%
Q1 24	172M	-0.3%	+2.3%
Q2 24	174M	+0.8%	+2.2%
Q3 24	175M	+0.5%	+2.0%
Q4 24	179M	+2.3%	+3.3%
Q1 25	176M	-1.7%	+1.9%
Q2 25	176M	+0.3%	+1.4%
Q3 25	176M	+0.1%	+1.0%
Q4 25	179M	+1.3%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$47.0K	4K
Q2 22	$55.8K	4K
Q3 22	$56.2K	4K
Q4 22	$68.8K	3K
Q1 23	$54.8K	3K
Q2 23	$62.1K	3K
Q3 23	$59.9K	3K
Q4 23	$72.9K	3K
Q1 24	$57.8K	3K
Q2 24	$62.0K	3K
Q3 24	$67.7K	3K
Q4 24	$82.4K	3K
Q1 25	$59.4K	3K
Q2 25	$72.3K	3K
Q3 25	$70.6K	3K
Q4 25	$73.8K	3K

Revenue / Employee