Ribbon Communications Inc.

Listed Company

RBBNCIK 0001708055NasdaqAcceleratedServices-Computer Integrated Systems DesignDelawareFY ends Dec 31

Period

FY 2025

Revenue

$844.56M

Net Income

$39.64M

Total Assets

$1.21B

Equity

$448.99M

Shares Out

175.60M

Op. Cash Flow

$51.40M

Business

Ribbon Communications Inc. is a global provider of communications technology delivering software and high-performance hardware to service providers and enterprises. It offers software-centric and cloud-native solutions, session border controllers, network transformation platforms, IP routing and switching, optical transport products, SDN orchestration, analytics, identity assurance, professional services, maintenance, and managed services. The company operates two primary segments: Cloud and Edge (VoIP, UC&C, SBCs and network transformation) and IP Optical Networks (Apollo, Neptune, Muse multi-layer IP/optical solutions). It sells worldwide through direct sales to service providers and via channel partners, resellers, distributors, system integrators, and as-a-service cloud platforms.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	845	834	826	820	845
Total cost of revenue	424	394	418	419	400
Gross profit	421	440	408	401	445
Research and development	179	180	191	204	195
Sales and marketing	133	138	137	148	150
General and administrative	64	69	55	51	54
Amortization of acquired intangible assets	24	26	29	30	28
Acquisition-, disposal- and integration-related	4	—	4	6	8
Restructuring and related	20	10	16	11	12
Total operating expenses	424	423	432	449	562
(Loss) income from operations	−3	17	−24	−48	−118
Interest expense, net	−44	−34	−27	−20	−16
Other income (expense), net	2	−29	−4	−44	−75
Loss before income taxes	−45	−46	−55	−113	−208
Income tax benefit (provision)	85	−8	−11	15	31
Net income (loss)	40	−54	−66	−98	−177
Basic (in dollars per share)	0.22	−0.31	−0.39	−0.63	−1.2
Diluted (in dollars per share)	0.22	−0.31	−0.39	−0.63	−1.2
Basic (in shares)	176	174	170	157	148
Diluted (in shares)	180	174	170	157	148

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	96	88	26	67	104
Restricted cash	2	3	100,000	200,000	3
Accounts receivable, net	232	255	268	267	283
Inventory	79	79	78	75	54
Other current assets	46	39	46	68	38
Total current assets	454	464	419	478	481
Property and equipment, net	66	60	42	45	48
Intangible assets, net	143	188	238	295	351
Goodwill	301	301	301	301	301
Deferred income taxes	174	89	70	—	47
Operating lease right-of-use assets	46	35	40	45	53
Other assets	27	27	35	39	23
Total assets	1,212	1,163	1,144	1,256	1,348
Current portion of term debt	9	6	35	20	20
Accounts payable	80	88	85	96	97
Accrued expenses and other	91	106	92	—	—
Operating lease liabilities	12	9	16	15	17
Deferred revenue	124	119	113	114	109
Total current liabilities	315	329	341	330	344
Long-term debt, net of current	325	331	197	306	350
Warrant liability	2	8	5	0	—
Operating lease liabilities, net of current	60	37	39	46	55
Deferred revenue, net of current	32	21	19	19	21
Deferred income taxes	6	6	6	4	8
Other long-term liabilities	24	26	31	31	42
Total liabilities	763	758	691	737	821
Commitments and contingencies (Note 26)	—	—	—	—	—
Common stock, $0.0001 par value per share; 390,000,000 shares authorized at December 31, 2025; 240,000,000 shares authorized at December 31, 2024; 175,776,074 shares issued and outstanding at December 31, 2025; 175,599,250 shares issued and outstanding at December 31, 2024	18,000	18,000	17,000	17,000	15,000
Additional paid-in capital	1,977	1,971	1,959	1,942	1,875
Accumulated deficit	−1,535	−1,574	−1,520	−1,454	−1,356
Accumulated other comprehensive income	7	8	14	31	8
Total stockholders' equity	449	405	453	518	527
Total liabilities and stockholders' equity	1,212	1,163	1,144	1,256	1,348

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of property and equipment	17	14	14	15	17
Amortization of intangible assets	44	51	57	61	67
Amortization of debt issuance costs and original issue discount	3	5	3	2	—
Amortization of accumulated other comprehensive gain related to interest rate swap	—	−8	−6	0	0
Stock-based compensation	19	16	22	19	19
Deferred income taxes	−86	−17	−9	−18	−46
Gain on sale of swap	—	—	−7	0	0
Change in fair value of warrant liability	−6	3	−201,000	0	0
Change in fair value of preferred stock liability	—	8	2	0	0
Dividends accrued on preferred stock liability	—	3	4	0	0
Payment of dividends accrued on preferred stock liability	—	−7	—	—	—
Foreign currency exchange losses (gains)	4	6	−44,000	2	5
Accounts receivable	20	12	6	14	−47
Inventory	234,000	−4	−11	−32	−9
Other operating assets	−564,000	30	35	2	10
Accounts payable	−3	−6	−10	−448,000	34
Accrued expenses and other long-term liabilities	−16	−9	−15	−38	−50
Deferred revenue	16	8	−593,000	3	7
Net cash provided by operating activities	51	50	17	−26	19
Purchases of property and equipment	−25	−22	−9	−10	−17
Purchases of software licenses	—	−462,000	−100,000	−3	0
Net cash used in investing activities	−25	−23	−9	−12	−14
Borrowings under revolving line of credit	—	44	97	74	0
Principal payments on revolving line of credit	—	−44	−97	−74	0
Proceeds from issuance of term debt	—	342	0	0	75
Principal payments of term debt	−6	−237	−95	−45	−92
Payment of debt issuance costs	—	−6	−2	−1	−789,000
Proceeds from issuance of preferred stock and warrant liabilities	—	—	53	0	0
Payment of preferred stock liability	—	−57	—	—	—
Proceeds from the exercise of stock options	6,000	21,000	15,000	1,000	24,000
Payment of tax obligations related to vested stock awards and units	−4	−4	−4	−3	−14
Repurchase of common stock	−9	—	—	—	0
Net cash (used in) provided by financing activities	−19	38	−48	931,000	−34
Effect of exchange rate changes on cash and cash equivalents	1	−1	−379,000	−2	−523,000
Net increase (decrease) in cash and cash equivalents	8	64	−41	−39	−29
Interest paid	38	33	26	19	15
Income taxes paid	12	29	19	17	14
Income tax refunds received	1	2	2	1	1
Capital expenditures incurred, but not yet paid	5	10	3	3	2
Inventory transfers to property and equipment	2	2	2	3	676,000
Warrant liability released to additional paid-in-capital	150,000	—	—	—	—
Fair value of vested restricted and performance-based stock grants	14	15	16	10	41

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