Ribbon Communications Inc. reported revenue for the second quarter of 2023 of $211 million, compared to $206 million for the second quarter of 2022 and $186 million for the first quarter of 2023.
- International represented 53% of sales
- Enterprise represented 32% of product sales
“Ribbon delivered solid results in the second quarter with sequential and year-over-year growth in both revenue and earnings. IP Optical Networks continued to build momentum with sales increasing 24% versus the same period in 2022, extending the trend of double-digit growth for the fourth consecutive quarter. Shipments to India continued to grow, and our cross-sell strategy resulted in strong growth in North America and Japan. Sales of our Cloud & Edge communications products to Enterprise customers grew 94% year over year, including a new strategic U.S. Federal agency win supporting modernization of critical voice communications,” stated Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. “We continue to anticipate a stronger second half and are maintaining our full year guidance range for 2023, but, due to the overall projected mix, Adjusted EBITDA is expected to be towards the lower half of our $95-110M range, a significant 50% improvement vs. 2022.”
For the third quarter of 2023, the company projects revenue of $215 million to $225 million, Non-GAAP gross margin is projected in a range of 51.5% to 52.5%, and Adjusted EBITDA is projected in a range of $26 million to $32 million.
