Ribbon Communications Inc. RBBN
We are a leading global provider of communications technology to service providers and enterprises. We provide a broad range of software and high-performance hardware products, network solutions, and services that enable the secure delivery of data and voice communications, and high-bandwidth networking and connectivity for residential consumers and for small, medium, and large enterprises and industry verticals such as finance, education, government, utilities, and transportation. Our mission is to create a recognized global technology leader that provides network solutions that are scalable, elastic and cloud-centric, enabling the secure exchange of information. We are at the intersection of the adoption of Artificial Intelligence ("AI") by Service Providers and Enterprises addressing the rapid growth in fiber connectivity and integration of voice capabilities into Agentic AI platforms We are headquartered in Plano, Texas, and have a global presence with research and development or sales and support locations in over 30 countries around the world.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $844.6M | $833.9M | $826.3M | $819.8M | $845.0M | $843.8M | $563.1M | $577.9M | $329.9M | $252.6M |
| Cost of revenue | $423.9M | $394.4M | $418.3M | $418.8M | $400.3M | $393.0M | $246.0M | $230.6M | $128.4M | $85.0M |
| Gross profit | $420.7M | $439.5M | $408.1M | $400.9M | $444.7M | $450.8M | $317.1M | $347.3M | $201.5M | $167.6M |
| R&D | $178.9M | $179.9M | $190.7M | $203.7M | $194.9M | $194.5M | $141.1M | $145.5M | $101.5M | $72.8M |
| SG&A | $64.2M | $68.7M | $55.0M | $51.1M | $53.7M | $63.3M | $53.9M | $66.0M | $47.6M | $35.9M |
| Total operating expenses | $424.0M | $422.6M | $432.4M | $449.3M | $562.5M | $449.1M | $506.5M | $412.7M | $256.7M | $181.2M |
| Operating income | -$3.3M | $16.9M | -$24.3M | -$48.3M | -$117.8M | $1.7M | -$189.5M | -$65.4M | -$55.2M | -$13.6M |
| Pre-tax income | -$45.1M | -$46.1M | -$55.4M | -$112.6M | -$208.1M | $93.3M | -$122.9M | -$73.4M | -$53.7M | -$11.4M |
| Income tax | $84.7M | $8.2M | $10.8M | $14.5M | $31.0M | $4.7M | $7.2M | $3.4M | $18.4M | $2.5M |
| Net income | $39.6K | -$54.2K | -$66.2K | -$98.1K | -$177.2K | $88.6M | -$130.1M | -$76.8M | — | — |
| EPS, basic | 0.22 | -0.31 | -0.39 | -0.63 | -1.20 | 0.64 | -1.19 | -0.74 | -0.60 | -0.28 |
| EPS, diluted | 0.22 | -0.31 | -0.39 | -0.63 | -1.20 | 0.61 | -1.19 | -0.74 | -0.60 | -0.28 |
| Shares, diluted (wtd. avg.) | $179.8M | $174.0M | $170.4M | $156.7M | $147.6M | $144.7M | $109.7M | $103.9M | $58.8M | $49.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $96.4M | $87.8M | $26.6M | $67.3M | $106.5M | $135.7M | $44.6M | $43.7M | $57.1M | $31.9M |
| Short-term investments | — | — | — | — | — | — | $0 | $7.3M | $17.2M | $61.8M |
| Receivables | $231.9M | $254.7M | $268.4M | $267.2M | $282.9M | $237.7M | $192.7M | $187.9M | $165.2M | $53.9M |
| Inventory | $78.8M | $79.2M | $77.5M | $75.4M | $54.0M | $45.8M | $14.8M | $22.6M | $21.3M | $18.3M |
| Total current assets | $454.5M | $463.7M | $418.7M | $478.0M | $481.0M | $447.6M | $279.3M | $278.4M | $282.2M | $177.9M |
| Property, plant and equipment | — | — | — | — | — | $48.9M | $29.0M | $27.0M | $24.8M | $11.7M |
| Goodwill | $300.9M | $300.9M | $300.9M | $300.9M | $300.9M | $416.9M | $224.9M | $383.7M | $335.7M | $49.4M |
| Other intangibles | $143.3M | $187.5M | $238.1M | $294.7M | $350.7M | $417.4M | $213.4M | $251.4M | $244.4M | $30.2M |
| Total assets | $1.21B | $1.16B | $1.14B | $1.26B | $1.35B | $1.55B | $814.9M | $957.2M | $910.9M | $308.1M |
| Accounts payable | $79.8M | $87.8M | $85.2M | $95.8M | $97.1M | $63.4M | $31.4M | $45.3M | $45.9M | $6.5M |
| Short-term debt | $8.8M | $6.1M | $35.1M | $20.1M | $20.1M | $15.5M | $3.5M | $0 | — | — |
| Total current liabilities | $315.5M | $328.9M | $341.1M | $330.5M | $344.5M | $327.6M | $206.7M | $289.7M | $242.8M | $77.1M |
| Long-term debt | $324.5M | $330.7M | $197.5M | $306.3M | $350.2M | $369.0M | $46.0M | $0 | $20.0M | — |
| Total liabilities | $763.3M | $757.9M | $691.4M | $737.1M | $820.6M | $860.4M | $331.7M | $366.9M | $295.5M | $88.9M |
| Retained earnings | -$1.53B | -$1.57B | -$1.52B | -$1.45B | -$1.36B | -$1.18B | -$1.27B | -$1.14B | -$1.07B | -$1.04B |
| Total equity | $449.0M | $404.6M | $452.8M | $518.4M | $527.2M | $686.9M | $483.3M | $590.3M | $615.4M | $219.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $51.4M | $50.2M | $17.1M | -$26.4M | $19.2M | $101.6M | $55.7M | -$9.6M | $8.1M | $19.2M |
| Depreciation and amortisation | $16.7M | $13.5M | $14.1M | $15.3M | $17.0M | $17.2M | $11.9M | $11.2M | — | — |
| Stock-based compensation | $19.4M | $16.1M | $21.8M | $18.7M | $19.4M | $13.9M | $12.6M | $11.1M | $25.7M | $19.8M |
| Capital expenditure | $25.3M | $22.4M | $9.4M | $10.3M | $17.1M | $26.7M | $10.8M | $7.9M | $4.0M | $4.6M |
| Investing cash flow | -$25.3M | -$22.9M | -$9.5M | -$12.1M | -$14.2M | -$330.1M | -$3.5M | -$35.4M | $21.0M | -$27.3M |
| Financing cash flow | -$19.4M | $37.7M | -$47.9M | $931.0K | -$33.7M | $319.3M | -$51.3M | $31.8M | -$4.5M | -$9.9M |
| Buybacks | $9.0M | — | — | — | $0 | $0 | $4.5M | $0 | $0 | $9.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-044643.
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