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RBBN

Ribbon Communications Inc.

RBBN

Ribbon Communications Inc. • NASDAQ
$2.86 ▲ 0.70% (+0.02)
Market Cap $505.07 M
52w High $5.38
52w Low $2.72
Dividend Yield 0%
P/E -11.92
Volume 258.56K
Outstanding Shares 176.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $215.371M ▼ $105.203M ▲ $-12.109M ▼ -5.622% ▼ $-0.069 ▼ $18.044M ▲
Q2-2025 $220.583M ▲ $105.081M ▲ $-11.093M ▲ -5.029% ▲ $-0.063 ▲ $17.929M ▲
Q1-2025 $181.279M ▼ $101.98M ▼ $-26.227M ▼ -14.468% ▼ $-0.15 ▼ $-1.211M ▼
Q4-2024 $251.359M ▲ $106.853M ▼ $6.364M ▲ 2.532% ▲ $0.036 ▲ $35.361M ▲
Q3-2024 $210.238M $110.544M $-13.422M -6.384% $-0.077 $16.337M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $74.799M ▲ $1.105B ▼ $745.182M ▼ $360.052M ▼
Q2-2025 $60.45M ▼ $1.142B ▲ $771.737M ▲ $370.435M ▼
Q1-2025 $71.243M ▼ $1.137B ▼ $755.662M ▼ $381.815M ▼
Q4-2024 $87.77M ▲ $1.163B ▲ $757.933M ▲ $404.621M ▲
Q3-2024 $37.24M $1.115B $719.225M $395.534M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.109M ▼ $26.489M ▲ $-5.537M ▲ $-6.097M ▼ $14.493M ▲ $20.952M ▲
Q2-2025 $-11.093M ▲ $-795K ▲ $-5.682M ▲ $-5.581M ▼ $-11.54M ▲ $-6.477M ▲
Q1-2025 $-26.227M ▼ $-3.535M ▼ $-12.149M ▼ $-1.812M ▲ $-16.665M ▼ $-15.684M ▼
Q4-2024 $6.364M ▲ $61.767M ▲ $-7.978M ▲ $-2.471M ▲ $50.386M ▲ $53.789M ▲
Q3-2024 $-13.422M $-14.849M $-9.014M $-3.279M $-27.315M $-23.863M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $150.00M ▲$80.00M ▼$120.00M ▲$110.00M ▼
Service
Service
 $100.00M ▲$100.00M ▲$110.00M ▲$110.00M ▲
Service Revenue Maintenance
Service Revenue Maintenance
 $70.00M ▲$70.00M ▲$70.00M ▲$70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been essentially flat for several years, which suggests the company is holding its ground but not yet expanding its top line in a meaningful way. Profitability has been choppy: gross margins are decent and have improved recently, but operating profit is only slightly positive and net income is still in the red after several years of losses. In plain terms, the core business is stabilizing and edging toward break‑even, but it has not yet translated that into consistent, bottom‑line profitability.

Balance Sheet

Balance Sheet The balance sheet looks adequate but not especially strong. Total assets and shareholders’ equity have trended down over time, indicating some erosion of the company’s financial cushion. Debt is meaningful but not extreme, and has been reduced from earlier levels, which is a positive. Cash on hand is relatively thin, leaving less room for error if business conditions weaken, and making ongoing discipline around costs and working capital important.

Cash Flow

Cash Flow Cash generation is modest but has improved from the weakest year in the recent past. Operating cash flow has generally been positive except for one down year, and free cash flow is slightly positive after covering a relatively light level of capital spending. This points to a capital‑efficient model, but with limited excess cash being produced so far, leaving only a small buffer to fund growth or further de‑leveraging internally.

Competitive Edge

Competitive Edge Ribbon operates in specialized niches of telecom infrastructure, particularly secure cloud communications and IP optical networking. Its strength comes from long‑standing relationships with major carriers and critical infrastructure customers, products that are deeply embedded in customer networks, and a sizeable patent portfolio that helps protect its technology. The broad, end‑to‑end portfolio from the network edge into the optical core and strong security capabilities create switching costs and differentiation. At the same time, the company competes in a crowded, price‑sensitive market against much larger vendors, so maintaining relevance, winning new projects, and defending margins remain ongoing challenges.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation, focusing on areas where telecom spending is still growing: 5G transport, AI‑driven network automation, cloud‑native functions, and secure voice and data. Platforms like its Muse automation suite, AI agents for network operations, and autonomous networking tools show a strategy aimed at simplifying complex networks and lowering customers’ operating costs. Its strong position in session border controllers, optical transport (Apollo), and IP systems (Neptune) indicates active product development rather than a static portfolio. The main question is execution: how effectively these innovations convert into larger, higher‑margin software and services revenue over time.

Summary

Overall, Ribbon looks like a technically strong, innovation‑focused telecom vendor that is still working to fully translate its product and customer strengths into steady growth and reliable profits. Financially, the story is one of stable but flat revenue, improving but still fragile profitability, a balance sheet that is serviceable but not overly robust, and modest positive cash flow. Strategically, its deep ties with carriers, focus on security, and push into AI, cloud‑native, and 5G‑related solutions provide clear opportunities. The key factors to watch are whether revenue can move from flat to growing, whether margins can continue to improve without over‑stretching the balance sheet, and how successfully the company monetizes its newer, software‑heavy offerings in a competitive, rapidly evolving telecom landscape.

NEWS

November 17, 2025 · 8:00 AM UTC

Ribbon to Participate in Four Leading Investor Conferences Before Year-End

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November 12, 2025 · 8:00 AM UTC

Seren Juno and Ribbon Achieve 20Tbps Transmission on 10,000 km JUNO Trans-Pacific Cable

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October 31, 2025 · 4:30 PM UTC

Ribbon Communications Announces Inducement Equity Grants to Steve McCaffery and Don Toft Under Nasdaq Listing Rule 5635(c)(4)

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October 22, 2025 · 4:03 PM UTC

Ribbon Communications Inc. Reports Third Quarter 2025 Financial Results

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October 13, 2025 · 4:05 PM UTC

Ribbon Communications to Report Third Quarter 2025 Financial Results on October 22, 2025

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