What is Ribbon Communications' operating income?

Ribbon Communications' total operating income in 2025 was -$3.32 million, based on the following breakdown: Total Gross Profit: $420.71 million Total Operating Expenses: $424.03 million

Ribbon Communications (RBBN) Financials

$2.14 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$2.19 +0.05 (+2.34%)

As of 07/2/2026 07:58 PM Eastern

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Annual Income Statements for Ribbon Communications

This table shows Ribbon Communications' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-32	-14	-35	-77	-130	89	-177	-98	-66	-54	40
Consolidated Net Income / (Loss)	-32	-14	-35	-77	-130	89	-177	-98	-66	-54	40
Net Income / (Loss) Continuing Operations	-32	-14	-35	-77	-130	89	-177	-98	-66	-54	40
Total Pre-Tax Income	-30	-11	-54	-73	-123	93	-208	-113	-55	-46	-45
Total Operating Income	-31	-14	-55	-65	-189	1.67	-118	-48	-24	17	-3.32
Total Gross Profit	162	168	201	347	317	451	445	401	408	440	421
Total Revenue	249	253	330	578	563	844	845	820	826	834	845
Operating Revenue	249	253	330	578	563	844	845	820	826	834	845
Total Cost of Revenue	87	85	128	231	246	393	400	419	418	394	424
Operating Cost of Revenue	87	85	128	231	246	393	400	419	418	394	424
Total Operating Expenses	193	181	257	413	507	449	562	449	432	423	424
Selling, General & Admin Expense	40	36	48	66	54	63	54	51	55	69	64
Marketing Expense	73	69	83	118	106	139	150	148	137	138	133
Research & Development Expense	78	73	101	145	141	195	195	204	191	180	179
Amortization Expense	-	-	-	50	12	19	28	30	29	26	24
Restructuring Charge	2.28	3.89	24	34	29	33	19	17	21	10	24
Total Other Income / (Expense), net	1.33	2.19	1.54	-8.00	67	92	-90	-64	-31	-63	-42
Interest & Investment Income	0.21	0.77	0.26	-4.23	-3.88	-21	-16	-20	-27	-34	-44
Other Income / (Expense), net	1.12	1.42	1.27	-3.77	70	113	-75	-44	-3.77	-29	2.23
Income Tax Expense	2.01	2.52	-18	3.40	7.18	4.73	-31	-15	11	8.17	-85
Basic Earnings per Share	($0.64)	($0.28)	($0.60)	($0.74)	($1.19)	$0.64	($1.20)	($0.63)	($0.39)	($0.31)	$0.22
Weighted Average Basic Shares Outstanding	49.56M	49.39M	58.82M	103.92M	109.73M	138.97M	147.58M	156.67M	170.41M	174.04M	176.20M
Diluted Earnings per Share	($0.64)	($0.28)	($0.60)	($0.74)	($1.19)	$0.61	($1.20)	($0.63)	($0.39)	($0.31)	$0.22
Weighted Average Diluted Shares Outstanding	49.56M	49.39M	58.82M	103.92M	109.73M	144.65M	147.58M	156.67M	170.41M	174.04M	179.82M
Weighted Average Basic & Diluted Shares Outstanding	-	-	101.93M	107.27M	111.31M	145.56M	148.96M	169.23M	172.46M	175.72M	175.60M

This table shows Ribbon Communications' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-14	7.08	-30	-17	-13	6.36	-26	-11	-12	89	-34
Consolidated Net Income / (Loss)	-14	7.08	-30	-17	-13	6.36	-26	-11	-12	89	-34
Net Income / (Loss) Continuing Operations	-14	7.08	-30	-17	-13	6.36	-26	-11	-12	89	-34
Total Pre-Tax Income	-8.91	6.45	-27	-15	-12	8.06	-27	-8.91	-8.98	-0.24	-41
Total Operating Income	0.86	17	-13	-1.94	-0.93	33	-20	4.23	2.76	9.30	-32
Total Gross Profit	104	122	92	98	110	140	82	109	108	121	70
Total Revenue	203	226	180	193	210	251	181	221	215	227	163
Operating Revenue	203	226	180	193	210	251	181	221	215	227	163
Total Cost of Revenue	100	105	88	95	101	111	99	111	107	106	93
Operating Cost of Revenue	100	105	88	95	101	111	99	111	107	106	93
Total Operating Expenses	103	105	105	100	111	107	102	105	105	112	101
Selling, General & Admin Expense	13	14	15	15	22	17	15	17	16	16	17
Marketing Expense	33	35	35	33	33	37	32	33	33	36	32
Research & Development Expense	46	45	46	43	46	45	44	45	46	45	44
Amortization Expense	7.22	6.86	6.71	6.51	6.46	6.30	6.16	5.98	5.93	5.79	5.66
Restructuring Charge	3.52	3.78	3.07	1.92	3.79	1.38	5.34	5.24	3.95	9.47	2.04
Total Other Income / (Expense), net	-9.76	-10	-14	-13	-11	-25	-7.37	-13	-12	-9.54	-9.24
Interest & Investment Income	-7.14	-6.99	-5.99	-3.88	-12	-12	-11	-11	-12	-11	-9.76
Other Income / (Expense), net	-2.62	-3.23	-7.51	-9.50	1.06	-13	3.13	-2.16	-0.13	1.39	0.51
Income Tax Expense	4.59	-0.63	3.38	1.50	1.60	1.69	-0.75	2.18	3.13	-89	-6.45
Basic Earnings per Share	($0.08)	$0.05	($0.18)	($0.10)	($0.08)	$0.05	($0.15)	($0.06)	($0.07)	$0.50	($0.20)
Weighted Average Basic Shares Outstanding	171.19M	170.41M	172.43M	173.79M	174.61M	174.04M	175.72M	176.75M	176.62M	176.20M	175.66M
Diluted Earnings per Share	($0.08)	$0.05	($0.18)	($0.10)	($0.08)	$0.05	($0.15)	($0.06)	($0.07)	$0.50	($0.20)
Weighted Average Diluted Shares Outstanding	171.19M	170.41M	172.43M	173.79M	174.61M	174.04M	175.72M	176.75M	176.62M	179.82M	175.66M
Weighted Average Basic & Diluted Shares Outstanding	171.73M	172.46M	173.91M	174.53M	175.38M	175.72M	176.54M	177.08M	176.60M	175.60M	176.14M

This table details how cash moves in and out of Ribbon Communications' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	8.95	-18	25	-13	0.95	91	-29	-39	-41	64	7.65
Net Cash From Operating Activities	20	19	8.08	-9.60	56	102	19	-26	17	50	51
Net Cash From Continuing Operating Activities	20	19	8.08	-9.60	56	102	19	-26	17	50	51
Net Income / (Loss) Continuing Operations	-32	-14	-35	-77	-130	89	-177	-98	-66	-54	40
Consolidated Net Income / (Loss)	-32	-14	-35	-77	-130	89	-177	-98	-66	-54	40
Depreciation Expense	12	7.97	8.49	11	12	17	17	15	14	14	17
Amortization Expense	7.11	7.50	17	50	50	67	71	63	55	48	47
Non-Cash Adjustments To Reconcile Net Income	22	20	30	16	178	-97	209	62	18	29	17
Changes in Operating Assets and Liabilities, net	11	-2.11	-13	-9.60	-54	26	-101	-69	-3.56	15	-69
Net Cash From Investing Activities	-4.59	-27	21	-35	-3.53	-330	-14	-12	-9.48	-23	-25
Net Cash From Continuing Investing Activities	-4.59	-27	21	-35	-3.53	-330	-14	-12	-9.48	-23	-25
Purchase of Property, Plant & Equipment	-7.79	-4.63	-4.00	-7.91	-11	-27	-17	-10	-9.38	-22	-25
Acquisitions	-11	-21	-43	-46	0.00	-347	0.00	-3.30	-0.10	-0.46	0.00
Net Cash From Financing Activities	-6.20	-9.87	-4.48	32	-51	319	-34	0.93	-48	38	-19
Net Cash From Continuing Financing Activities	-6.20	-9.87	-4.48	32	-51	319	-34	0.93	-48	38	-19
Repayment of Debt	-0.08	-0.04	-14	-163	-191	-157	-93	-120	-194	-288	-6.13
Repurchase of Preferred Equity	-	-	-	-	-	-	-	0.00	0.00	-57	0.00
Repurchase of Common Equity	-7.92	-9.53	0.00	0.00	-4.54	-	-	-	0.00	0.00	-8.96
Issuance of Debt	0.00	0.00	16	198	167	479	75	74	97	386	0.00
Issuance of Preferred Equity	-	-	-	-	-	-	0.00	0.00	53	0.00	0.00
Other Financing Activities, net	-0.59	-1.66	-6.91	-2.60	-24	-2.86	-15	-3.38	-4.47	-4.29	-4.35
Effect of Exchange Rate Changes	-0.13	-0.16	0.55	-0.18	0.07	0.26	-0.52	-1.65	-0.38	-1.23	1.03
Cash Interest Paid	0.06	0.04	0.32	2.37	4.07	16	15	19	26	33	38
Cash Income Taxes Paid	1.43	1.25	2.29	5.51	4.67	9.29	14	17	19	29	12

This table details how cash moves in and out of Ribbon Communications' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-10	2.13	4.30	36	-27	50	-17	-12	14	21	-29
Net Cash From Operating Activities	-12	20	13	-9.78	-15	62	-3.54	-0.80	26	29	-22
Net Cash From Continuing Operating Activities	-12	20	13	-9.78	-15	62	-3.54	-0.80	26	29	-22
Net Income / (Loss) Continuing Operations	-14	7.08	-30	-17	-13	6.36	-26	-11	-12	89	-34
Consolidated Net Income / (Loss)	-14	7.08	-30	-17	-13	6.36	-26	-11	-12	89	-34
Depreciation Expense	3.54	3.50	3.39	3.38	3.36	3.41	3.47	4.29	4.43	4.55	4.46
Amortization Expense	13	12	12	9.33	13	12	12	12	12	11	11
Non-Cash Adjustments To Reconcile Net Income	7.35	7.40	9.17	5.90	-5.30	11	1.24	6.49	5.79	3.56	5.89
Changes in Operating Assets and Liabilities, net	-22	-9.97	19	-12	-13	29	5.74	-12	17	-79	-8.78
Net Cash From Investing Activities	-2.53	-2.86	-2.66	-3.21	-9.01	-7.98	-12	-5.68	-5.54	-1.97	-3.07
Net Cash From Continuing Investing Activities	-2.53	-2.86	-2.66	-3.21	-9.01	-7.98	-12	-5.68	-5.54	-1.97	-3.07
Purchase of Property, Plant & Equipment	-2.53	-2.76	-2.51	-3.10	-8.82	-7.98	-12	-5.68	-5.54	-1.97	-3.07
Net Cash From Financing Activities	4.54	-16	-5.84	49	-3.28	-2.47	-1.81	-5.58	-6.10	-5.94	-3.11
Net Cash From Continuing Financing Activities	4.54	-16	-5.84	49	-3.28	-2.47	-1.81	-5.58	-6.10	-5.94	-3.11
Repayment of Debt	-32	-45	-20	-263	-2.88	-1.20	-0.88	-0.88	-2.19	-2.19	-2.19
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-3.48	-3.22	-0.82
Other Financing Activities, net	-0.44	-0.57	-0.83	-1.79	-0.40	-1.27	-0.94	-2.45	-0.43	-0.53	-0.10
Effect of Exchange Rate Changes	-0.53	-	-0.29	0.17	-0.17	-0.93	0.83	0.52	-0.36	0.04	-0.35
Cash Interest Paid	6.99	6.97	6.32	5.90	11	10	9.38	9.79	9.63	9.20	8.55
Cash Income Taxes Paid	2.78	9.16	3.14	6.53	3.14	16	3.06	4.66	1.85	2.39	2.12

This table presents Ribbon Communications' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	308	911	957	815	1,547	1,348	1,256	1,144	1,163	1,212
Total Current Assets	178	282	278	279	448	481	478	419	464	454
Cash & Equivalents	32	57	44	45	128	104	67	26	88	96
Restricted Cash	-	-	-	0.00	7.27	2.57	-	0.14	2.71	1.73
Accounts Receivable	54	165	188	193	238	283	267	268	255	232
Inventories, net	18	21	23	15	46	54	75	78	79	79
Other Current Assets	12	21	17	27	28	38	68	46	39	46
Plant, Property, & Equipment, net	12	25	27	29	49	0.00	45	42	60	66
Total Noncurrent Assets	118	604	652	507	1,051	867	733	684	639	692
Goodwill	49	336	384	225	417	301	301	301	301	301
Intangible Assets	30	244	251	213	417	351	295	238	188	143
Noncurrent Deferred & Refundable Income Taxes	1.54	8.43	9.15	4.96	11	47	54	70	89	174
Other Noncurrent Operating Assets	4.90	6.29	7.48	63	206	168	83	75	61	74
Total Liabilities & Shareholders' Equity	308	911	957	815	1,547	1,348	1,256	1,144	1,163	1,212
Total Liabilities	89	295	367	332	860	821	737	691	758	763
Total Current Liabilities	77	243	290	207	328	344	330	341	329	315
Short-Term Debt	0.00	20	55	11	16	20	20	35	6.13	8.75
Accounts Payable	34	122	130	88	198	198	181	85	88	80
Accrued Expenses	-	-	-	-	-	-	-	92	106	91
Current Deferred Revenue	44	101	105	100	97	109	114	113	119	124
Other Current Liabilities	-	-	0.00	7.72	17	17	15	16	9.44	12
Total Noncurrent Liabilities	12	53	77	125	533	476	407	350	429	448
Long-Term Debt	-	-	0.00	46	369	350	306	197	331	325
Noncurrent Deferred Revenue	7.19	14	18	20	26	21	19	19	21	32
Noncurrent Deferred & Payable Income Tax Liabilities	3.05	2.79	4.74	4.65	17	8.12	3.75	5.62	5.94	5.73
Other Noncurrent Operating Liabilities	1.63	13	31	54	121	97	77	128	71	86
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	219	615	590	483	687	527	518	453	405	449
Total Preferred & Common Equity	219	615	590	483	687	527	518	453	405	449
Total Common Equity	219	615	590	483	687	527	518	453	405	449
Common Stock	1,251	1,685	1,724	1,748	1,870	1,875	1,942	1,959	1,971	1,977
Retained Earnings	-1,037	-1,072	-1,137	-1,267	-1,178	-1,356	-1,454	-1,520	-1,574	-1,535
Accumulated Other Comprehensive Income / (Loss)	5.50	3.07	3.70	2.53	-4.94	7.58	31	14	8.08	6.57

This table presents Ribbon Communications' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,192	1,167	1,122	1,078	1,105	1,115	1,137	1,142	1,105	1,160
Total Current Assets	430	421	390	369	404	417	425	434	418	408
Cash & Equivalents	46	35	25	31	65	37	71	60	75	68
Restricted Cash	0.18	-	-	-	2.85	2.85	2.57	1.82	1.97	2.05
Accounts Receivable	255	253	242	212	211	249	225	249	218	204
Inventories, net	76	74	70	81	79	77	80	80	80	81
Other Current Assets	53	59	54	45	47	50	46	42	43	53
Plant, Property, & Equipment, net	43	42	42	41	41	49	65	67	66	64
Total Noncurrent Assets	719	704	689	669	660	649	648	642	620	687
Goodwill	301	301	301	301	301	301	301	301	301	301
Intangible Assets	280	265	251	225	212	199	176	165	154	134
Noncurrent Deferred & Refundable Income Taxes	66	67	63	72	78	84	94	99	91	182
Other Noncurrent Operating Assets	72	71	73	70	69	65	77	77	75	70
Total Liabilities & Shareholders' Equity	1,192	1,167	1,122	1,078	1,105	1,115	1,137	1,142	1,105	1,160
Total Liabilities	719	713	678	654	700	719	756	772	745	741
Total Current Liabilities	343	346	325	504	273	293	305	314	292	299
Short-Term Debt	20	25	40	228	3.50	4.81	7.44	8.75	8.75	8.75
Accounts Payable	186	191	163	151	157	182	81	89	77	77
Accrued Expenses	-	-	-	-	-	-	90	90	88	78
Current Deferred Revenue	122	114	108	111	100	96	117	115	107	123
Other Current Liabilities	15	15	15	14	12	11	10	11	12	12
Total Noncurrent Liabilities	376	367	352	149	428	426	450	458	453	442
Long-Term Debt	226	216	207	0.00	334	332	329	328	326	323
Noncurrent Deferred Revenue	18	20	18	14	17	17	24	32	30	32
Noncurrent Deferred & Payable Income Tax Liabilities	3.76	3.76	3.73	5.62	5.62	5.62	5.94	5.94	5.94	5.73
Other Noncurrent Operating Liabilities	128	127	124	130	72	71	92	93	92	81
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	473	454	444	425	405	396	382	370	360	419
Total Preferred & Common Equity	473	454	444	425	405	396	382	370	360	419
Total Common Equity	473	454	444	425	405	396	382	370	360	419
Common Stock	1,946	1,950	1,955	1,963	1,964	1,968	1,974	1,974	1,976	1,982
Retained Earnings	-1,492	-1,514	-1,527	-1,550	-1,567	-1,581	-1,600	-1,612	-1,624	-1,569
Accumulated Other Comprehensive Income / (Loss)	19	18	16	12	7.83	8.11	7.99	7.93	7.72	6.13

This table displays calculated financial ratios and metrics derived from Ribbon Communications' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	1.43%	30.62%	75.15%	-2.56%	49.85%	0.14%	-2.98%	0.80%	0.91%	1.28%
EBITDA Growth	0.00%	129.79%	-963.23%	71.60%	-613.80%	444.68%	-152.47%	86.51%	389.49%	20.18%	28.32%
EBIT Growth	0.00%	59.51%	-342.80%	-28.22%	-72.04%	196.09%	-268.17%	51.74%	69.78%	56.34%	91.03%
NOPAT Growth	0.00%	56.41%	-305.83%	-18.43%	-189.66%	101.19%	-5,304.07%	58.98%	49.75%	169.48%	-119.70%
Net Income Growth	0.00%	56.32%	-153.03%	-117.89%	-69.35%	168.11%	-300.00%	44.64%	32.50%	18.08%	173.08%
EPS Growth	0.00%	56.25%	-114.29%	-23.33%	-60.81%	151.26%	-296.72%	47.50%	38.10%	20.51%	170.97%
Operating Cash Flow Growth	0.00%	-3.41%	-57.90%	-218.75%	680.35%	82.39%	-81.11%	-237.44%	164.81%	194.02%	2.30%
Free Cash Flow Firm Growth	0.00%	0.00%	-407.48%	82.78%	89.61%	-4,616.19%	114.19%	-132.68%	599.79%	-80.81%	-281.59%
Invested Capital Growth	0.00%	0.00%	517.90%	7.63%	-19.94%	88.99%	-15.47%	-1.70%	-15.28%	-1.17%	5.09%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.87%	3.09%	-2.77%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	34.23%	16.44%	-13.32%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.15%	35.10%	-113.27%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38.81%	5,139.75%	-116.14%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-25.40%	-1.34%	192.04%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-39.29%	0.00%	195.65%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	30.98%	483.37%	-38.76%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	175.03%	-139.86%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.16%	-6.02%	10.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.91%	66.36%	61.07%	60.10%	56.31%	53.43%	52.63%	48.91%	49.38%	52.71%	49.81%
EBITDA Margin	-4.43%	1.30%	-8.59%	-1.39%	-10.21%	23.48%	-12.30%	-1.71%	4.91%	5.85%	7.42%
Operating Margin	-12.54%	-5.39%	-16.74%	-11.32%	-33.65%	0.20%	-13.94%	-5.89%	-2.94%	2.02%	-0.39%
EBIT Margin	-12.08%	-4.82%	-16.35%	-11.97%	-21.14%	13.55%	-22.76%	-11.32%	-3.39%	-1.47%	-0.13%
Profit (Net Income) Margin	-12.81%	-5.52%	-10.68%	-13.29%	-23.10%	10.50%	-20.97%	-11.96%	-8.01%	-6.50%	4.69%
Tax Burden Percent	106.72%	122.04%	65.66%	104.63%	105.84%	94.94%	85.13%	87.11%	119.56%	117.73%	-87.87%
Interest Burden Percent	99.31%	93.69%	99.51%	106.11%	103.26%	81.60%	108.23%	121.31%	197.39%	376.16%	4,108.29%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	5.06%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-20.49%	-11.58%	-7.68%	-23.82%	0.22%	-9.55%	-4.31%	-2.37%	1.80%	-0.35%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-13.50%	-15.67%	480.67%	-11.08%	66.96%	-46.51%	-28.89%	-23.53%	-27.40%	17.08%
Return on Net Nonoperating Assets (RNNOA)	0.00%	7.77%	3.13%	-5.07%	-0.41%	14.92%	-19.64%	-14.45%	-11.27%	-14.45%	9.64%
Return on Equity (ROE)	0.00%	-12.72%	-8.45%	-12.74%	-24.23%	15.14%	-29.19%	-18.76%	-13.63%	-12.65%	9.29%
Cash Return on Invested Capital (CROIC)	0.00%	-220.49%	-155.86%	-15.02%	-1.67%	-61.37%	7.22%	-2.60%	14.17%	2.98%	-5.31%
Operating Return on Assets (OROA)	0.00%	-3.96%	-8.85%	-7.41%	-13.43%	9.68%	-13.29%	-7.13%	-2.34%	-1.06%	-0.09%
Return on Assets (ROA)	0.00%	-4.52%	-5.78%	-8.22%	-14.68%	7.50%	-12.24%	-7.54%	-5.52%	-4.70%	3.34%
Return on Common Equity (ROCE)	0.00%	-12.72%	-8.45%	-12.74%	-24.23%	15.14%	-29.19%	-18.76%	-13.63%	-12.65%	9.29%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-6.36%	-5.73%	-13.01%	-26.92%	12.90%	-33.61%	-18.92%	-14.62%	-13.40%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-9.53	-39	-46	-133	1.58	-82	-34	-17	12	-2.33
NOPAT Margin	-8.77%	-3.77%	-11.72%	-7.92%	-23.55%	0.19%	-9.76%	-4.13%	-2.06%	1.42%	-0.28%
Net Nonoperating Expense Percent (NNEP)	0.00%	-6.99%	4.08%	-488.34%	-12.74%	-66.74%	36.96%	24.58%	21.16%	29.20%	-17.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-4.00%	-2.48%	1.59%	-0.30%
Cost of Revenue to Revenue	35.09%	33.64%	38.93%	39.90%	43.69%	46.57%	47.37%	51.09%	50.62%	47.29%	50.19%
SG&A Expenses to Revenue	16.00%	14.23%	14.44%	11.43%	9.57%	7.50%	6.35%	6.23%	6.65%	8.24%	7.61%
R&D to Revenue	31.28%	28.84%	30.76%	25.17%	25.05%	23.05%	23.07%	24.85%	23.07%	21.58%	21.18%
Operating Expenses to Revenue	77.45%	71.74%	77.81%	71.42%	89.95%	53.23%	66.57%	54.80%	52.32%	50.68%	50.21%
Earnings before Interest and Taxes (EBIT)	-30	-12	-54	-69	-119	114	-192	-93	-28	-12	-1.10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-11	3.29	-28	-8.05	-57	198	-104	-14	41	49	63
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	1.39	1.71	0.81	0.96	1.55	0.97
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	91.07
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	1.13	1.06	0.51	0.53	0.75	0.51
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	10.77	0.00	0.00	0.00	0.00	10.93
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	9.29%	0.00%	0.00%	0.00%	0.00%	9.15%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	1.29	1.47	0.87	0.98	1.34	0.98
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	1.43	1.38	0.83	0.78	1.05	0.79
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	6.07	0.00	0.00	15.82	17.87	10.67
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	10.52	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	759.04	0.00	0.00	0.00	73.86	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	11.84	60.63	0.00	37.59	17.36	13.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	18.66	0.00	6.31	44.65	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.03	0.09	0.12	0.56	0.70	0.63	0.51	0.83	0.74
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.10	0.54	0.66	0.59	0.44	0.82	0.72
Financial Leverage	0.00	-0.58	-0.20	-0.01	0.04	0.22	0.42	0.50	0.48	0.53	0.56
Leverage Ratio	0.00	1.41	1.46	1.55	1.65	2.02	2.38	2.49	2.47	2.69	2.78
Compound Leverage Factor	0.00	1.32	1.45	1.64	1.70	1.65	2.58	3.02	4.88	10.12	114.30
Debt to Total Capital	0.00%	0.00%	3.15%	8.52%	10.47%	35.89%	41.26%	38.63%	33.94%	45.43%	42.60%
Short-Term Debt to Total Capital	0.00%	0.00%	3.15%	8.52%	1.95%	1.45%	2.24%	2.37%	5.12%	0.83%	1.12%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	8.52%	34.44%	39.02%	36.26%	28.81%	44.60%	41.49%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	96.85%	91.48%	89.53%	64.11%	58.74%	61.37%	66.06%	54.57%	57.40%
Debt to EBITDA	0.00	0.00	-0.71	-6.83	-0.98	1.94	-3.56	-23.26	5.73	6.90	5.32
Net Debt to EBITDA	0.00	0.00	2.23	-0.50	-0.21	1.26	-2.54	-18.47	5.07	5.05	3.75
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-0.80	1.86	-3.37	-21.83	4.86	6.78	5.18
Debt to NOPAT	0.00	0.00	-0.52	-1.20	-0.43	242.71	-4.49	-9.65	-13.68	28.52	-143.23
Net Debt to NOPAT	0.00	0.00	1.64	-0.09	-0.09	157.07	-3.20	-7.66	-12.12	20.86	-101.06
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-0.35	232.91	-4.25	-9.05	-11.62	28.00	-139.47
Altman Z-Score	0.00	0.00	0.00	0.00	0.00	0.48	-0.47	-0.73	-0.76	-0.58	-0.60
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.31	1.16	0.96	1.35	1.37	1.40	1.45	1.23	1.41	1.44
Quick Ratio	0.00	1.92	0.99	0.82	1.15	1.12	1.12	1.01	0.86	1.04	1.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-103	-520	-90	-9.31	-439	62	-20	102	20	-35
Operating Cash Flow to CapEx	254.99%	414.87%	202.05%	-121.35%	514.46%	0.00%	111.97%	-257.11%	182.14%	224.23%	202.82%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.82	0.54	0.62	0.64	0.71	0.58	0.63	0.69	0.72	0.71
Accounts Receivable Turnover	0.00	4.69	3.01	3.27	2.96	3.92	3.25	2.98	3.09	3.19	3.47
Inventory Turnover	0.00	4.65	6.49	10.50	13.16	12.98	8.02	6.47	5.47	5.03	5.37
Fixed Asset Turnover	0.00	21.51	18.07	22.30	20.10	21.67	0.00	0.00	19.07	16.32	13.41
Accounts Payable Turnover	0.00	2.53	1.65	1.83	2.26	2.74	2.02	2.21	3.14	4.56	5.06
Days Sales Outstanding (DSO)	0.00	77.83	121.14	111.48	123.34	93.10	112.45	122.48	118.30	114.49	105.15
Days Inventory Outstanding (DIO)	0.00	78.53	56.25	34.75	27.74	28.12	45.50	56.41	66.73	72.52	68.02
Days Payable Outstanding (DPO)	0.00	144.17	221.36	199.28	161.47	132.99	180.60	165.13	116.17	80.02	72.16
Cash Conversion Cycle (CCC)	0.00	12.19	-43.97	-53.05	-10.39	-11.77	-22.65	13.77	68.87	106.98	101.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	93	575	618	495	936	791	777	659	651	684
Invested Capital Turnover	0.00	5.43	0.99	0.97	1.01	1.18	0.98	1.05	1.15	1.27	1.27
Increase / (Decrease) in Invested Capital	0.00	93	482	44	-123	441	-145	-13	-119	-7.72	33
Enterprise Value (EV)	0.00	0.00	0.00	0.00	0.00	1,203	1,163	679	642	872	668
Market Capitalization	0.00	0.00	0.00	0.00	0.00	954	899	420	436	626	433
Book Value per Share	$0.00	$4.44	$10.46	$5.79	$4.51	$6.17	$3.62	$3.48	$2.64	$2.31	$2.54
Tangible Book Value per Share	$0.00	$2.83	$0.60	($0.44)	$0.42	($1.32)	($0.86)	($0.52)	($0.50)	($0.48)	$0.03
Total Capital	0.00	219	635	645	540	1,071	897	845	685	741	782
Total Debt	0.00	0.00	20	55	56	385	370	326	233	337	333
Total Long-Term Debt	0.00	0.00	0.00	0.00	46	369	350	306	197	331	325
Net Debt	0.00	-126	-63	4.02	12	249	264	259	206	246	235
Capital Expenditures (CapEx)	7.79	4.63	4.00	7.91	11	-17	17	10	9.38	22	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	7.09	-15	-7.20	38	-0.15	50	100	86	50	50
Debt-free Net Working Capital (DFNWC)	0.00	101	59	44	83	136	157	168	113	141	148
Net Working Capital (NWC)	0.00	101	39	-11	73	120	137	147	78	135	139
Net Nonoperating Expense (NNE)	10	4.41	-3.41	31	-2.55	-87	95	64	49	66	-42
Net Nonoperating Obligations (NNO)	0.00	-126	-41	28	12	249	264	259	206	246	235
Total Depreciation and Amortization (D&A)	19	15	26	61	62	84	88	79	69	61	64
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	2.81%	-4.51%	-1.25%	6.82%	-0.02%	5.93%	12.23%	10.42%	6.05%	5.88%
Debt-free Net Working Capital to Revenue	0.00%	39.92%	18.01%	7.58%	14.75%	16.06%	18.53%	20.44%	13.64%	16.90%	17.50%
Net Working Capital to Revenue	0.00%	39.92%	11.95%	-1.94%	12.89%	14.22%	16.16%	17.99%	9.40%	16.16%	16.46%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.60)	$0.00	($1.19)	$0.64	($1.20)	($0.63)	($0.39)	($0.31)	$0.22
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	58.82M	0.00	109.73M	138.97M	147.58M	156.67M	170.41M	174.04M	176.20M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.60)	$0.00	($1.19)	$0.61	($1.20)	($0.63)	($0.39)	($0.31)	$0.22
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	58.82M	0.00	109.73M	144.65M	147.58M	156.67M	170.41M	174.04M	179.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	101.93M	0.00	111.31M	145.56M	148.96M	169.23M	172.46M	175.72M	175.60M
Normalized Net Operating Profit after Tax (NOPAT)	-20	-6.80	-22	-22	2.93	33	12	-22	-2.52	19	14
Normalized NOPAT Margin	-8.13%	-2.69%	-6.58%	-3.81%	0.52%	3.95%	1.45%	-2.66%	-0.31%	2.27%	1.71%
Pre Tax Income Margin	-12.00%	-4.52%	-16.27%	-12.70%	-21.82%	11.06%	-24.63%	-13.74%	-6.70%	-5.52%	-5.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-24.82%	-68.40%	0.00%	0.00%	-3.49%	0.00%	0.00%	0.00%	0.00%	0.00%	22.59%

This table displays calculated financial ratios and metrics derived from Ribbon Communications' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	175,724,084.00	176,544,386.00	177,081,847.00	-	175,604,524.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	175,724,084.00	176,544,386.00	177,081,847.00	-	175,604,524.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.15	-0.06	-0.07	-	-0.20
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.91%	-3.10%	-3.49%	-8.55%	3.48%	11.02%	0.90%	14.52%	2.44%	-9.56%	-10.30%
EBITDA Growth	18.30%	55.33%	51.85%	-83.34%	12.18%	23.70%	85.75%	1,344.91%	10.51%	-26.76%	-1,957.55%
EBIT Growth	74.90%	2,959.15%	30.96%	-22.86%	107.31%	49.29%	21.52%	118.07%	1,937.98%	-46.73%	-89.19%
NOPAT Growth	125.97%	1,966.46%	61.68%	70.78%	-208.29%	43.38%	-45.41%	318.40%	398.06%	-75.20%	-61.63%
Net Income Growth	26.69%	-65.45%	20.74%	21.71%	0.59%	-10.10%	13.62%	34.03%	9.78%	1,299.51%	-31.50%
EPS Growth	33.33%	-68.75%	21.74%	23.08%	0.00%	0.00%	16.67%	40.00%	12.50%	900.00%	-33.33%
Operating Cash Flow Growth	35.68%	25.10%	17.67%	-282.10%	-27.72%	206.70%	-126.98%	91.87%	278.39%	-52.66%	-522.23%
Free Cash Flow Firm Growth	0.00%	0.00%	105.93%	97.68%	95.96%	-75.22%	-188.08%	317.05%	384.32%	-178.44%	-61.33%
Invested Capital Growth	0.00%	-15.28%	-7.55%	2.13%	3.94%	-1.17%	3.65%	-4.53%	-10.77%	5.09%	5.68%
Revenue Q/Q Growth	-3.54%	11.44%	-20.64%	7.21%	9.15%	19.56%	-27.88%	21.68%	-2.36%	5.55%	-28.47%
EBITDA Q/Q Growth	98.86%	92.27%	-118.53%	123.52%	1,238.75%	112.03%	-102.14%	2,483.72%	2.39%	40.52%	-159.99%
EBIT Q/Q Growth	81.05%	861.79%	-256.27%	45.53%	101.13%	15,451.16%	-182.15%	112.54%	27.19%	306.50%	-391.77%
NOPAT Q/Q Growth	112.93%	2,953.82%	-151.59%	85.65%	52.09%	4,143.20%	-152.32%	121.55%	-34.62%	236.48%	-440.92%
Net Income Q/Q Growth	37.14%	152.43%	-528.89%	44.61%	20.18%	147.41%	-512.12%	57.70%	-9.16%	835.53%	-138.72%
EPS Q/Q Growth	38.46%	162.50%	-460.00%	44.44%	20.00%	162.50%	-400.00%	60.00%	-16.67%	814.29%	-140.00%
Operating Cash Flow Q/Q Growth	-354.32%	273.22%	-34.95%	-174.64%	-51.86%	515.97%	-105.72%	77.51%	3,431.95%	10.38%	-175.23%
Free Cash Flow Firm Q/Q Growth	-0.03%	120.59%	-69.81%	-137.32%	-74.26%	226.20%	-207.32%	191.96%	128.27%	-134.82%	-120.74%
Invested Capital Q/Q Growth	0.82%	-1.16%	-5.59%	8.55%	2.61%	-6.02%	-0.98%	-0.01%	-4.10%	10.68%	-0.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.95%	53.76%	51.18%	50.81%	52.14%	55.73%	45.44%	49.55%	50.13%	53.26%	42.86%
EBITDA Margin	7.44%	12.84%	-3.00%	0.66%	8.07%	14.31%	-0.42%	8.30%	8.70%	11.59%	-9.72%
Operating Margin	0.42%	7.36%	-7.51%	-1.00%	-0.44%	13.22%	-10.82%	1.92%	1.28%	4.09%	-19.49%
EBIT Margin	-0.87%	5.94%	-11.69%	-5.94%	0.06%	7.98%	-9.09%	0.94%	1.22%	4.70%	-19.18%
Profit (Net Income) Margin	-6.65%	3.13%	-16.90%	-8.73%	-6.38%	2.53%	-14.47%	-5.03%	-5.62%	39.18%	-21.21%
Tax Burden Percent	151.58%	109.77%	112.51%	109.79%	113.52%	78.98%	97.21%	124.50%	134.89%	-36,956.43%	84.25%
Interest Burden Percent	504.93%	47.99%	128.51%	133.91%	-9,165.12%	40.17%	163.71%	-431.06%	-341.46%	-2.26%	131.29%
Effective Tax Rate	0.00%	-9.77%	0.00%	0.00%	0.00%	21.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.74%	9.30%	-6.65%	-0.84%	-0.37%	13.29%	-9.99%	1.76%	1.19%	3.62%	-17.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-11.94%	4.48%	-17.19%	-7.33%	-5.28%	4.50%	-15.43%	-3.41%	-3.87%	37.91%	-21.69%
Return on Net Nonoperating Assets (RNNOA)	-5.98%	2.14%	-7.61%	-4.07%	-3.27%	2.38%	-8.80%	-2.39%	-2.84%	21.39%	-14.21%
Return on Equity (ROE)	-5.24%	11.44%	-14.26%	-4.91%	-3.64%	15.67%	-18.79%	-0.64%	-1.65%	25.01%	-31.21%
Cash Return on Invested Capital (CROIC)	0.00%	14.17%	7.57%	-1.89%	-3.83%	2.98%	-2.40%	6.43%	13.58%	-5.31%	-7.15%
Operating Return on Assets (OROA)	-0.65%	4.09%	-8.44%	-4.19%	0.04%	5.77%	-6.86%	0.72%	0.96%	3.34%	-13.79%
Return on Assets (ROA)	-4.94%	2.15%	-12.21%	-6.16%	-4.62%	1.83%	-10.91%	-3.86%	-4.40%	27.87%	-15.25%
Return on Common Equity (ROCE)	-5.24%	11.44%	-14.26%	-4.91%	-3.64%	15.67%	-18.79%	-0.64%	-1.65%	25.01%	-31.21%
Return on Equity Simple (ROE_SIMPLE)	-11.89%	0.00%	-13.72%	-13.23%	-13.53%	0.00%	0.00%	-11.98%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.60	18	-9.44	-1.35	-0.65	26	-14	2.96	1.93	6.51	-22
NOPAT Margin	0.29%	8.08%	-5.25%	-0.70%	-0.31%	10.44%	-7.57%	1.34%	0.90%	2.86%	-13.64%
Net Nonoperating Expense Percent (NNEP)	12.67%	4.83%	10.54%	6.49%	4.92%	8.79%	5.43%	5.16%	5.06%	-34.29%	4.69%
Return On Investment Capital (ROIC_SIMPLE)	-	2.67%	-	-	-	3.54%	-1.91%	0.42%	0.28%	0.83%	-2.95%
Cost of Revenue to Revenue	49.05%	46.24%	48.82%	49.19%	47.86%	44.27%	54.56%	50.45%	49.87%	46.74%	57.14%
SG&A Expenses to Revenue	6.34%	6.05%	8.46%	7.74%	10.27%	6.79%	8.35%	7.54%	7.60%	7.09%	10.44%
R&D to Revenue	22.75%	20.03%	25.47%	22.58%	21.71%	17.92%	24.03%	20.26%	21.31%	19.67%	27.33%
Operating Expenses to Revenue	50.53%	46.39%	58.69%	51.81%	52.58%	42.51%	56.26%	47.64%	48.85%	49.17%	62.35%
Earnings before Interest and Taxes (EBIT)	-1.76	13	-21	-11	0.13	20	-16	2.07	2.63	11	-31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	29	-5.39	1.27	17	36	-0.77	18	19	26	-16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.91	0.96	1.13	1.22	1.24	1.55	1.54	1.63	1.59	0.97	0.76
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	91.07	0.00
Price to Revenue (P/Rev)	0.48	0.53	0.59	0.62	0.60	0.75	0.71	0.70	0.66	0.51	0.39
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.93	10.17
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.15%	9.84%
Enterprise Value to Invested Capital (EV/IC)	0.94	0.98	1.09	1.13	1.13	1.34	1.32	1.36	1.34	0.98	0.85
Enterprise Value to Revenue (EV/Rev)	0.75	0.78	0.83	0.95	0.97	1.05	1.02	1.02	0.96	0.79	0.70
Enterprise Value to EBITDA (EV/EBITDA)	20.68	15.82	14.62	19.09	18.76	17.87	15.96	12.45	11.49	10.67	12.21
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	151.91	100.26	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	519.22	3,487.68	73.86	113.32	74.13	57.55	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	47.96	37.59	35.62	64.64	91.28	17.36	25.37	20.60	9.89	13.01	17.64
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	6.31	13.85	0.00	0.00	44.65	0.00	20.70	9.32	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.51	0.54	0.83	0.85	0.83	0.88	0.91	0.93	0.74	0.79
Long-Term Debt to Equity	0.47	0.44	0.00	0.82	0.84	0.82	0.86	0.88	0.91	0.72	0.77
Financial Leverage	0.50	0.48	0.44	0.55	0.62	0.53	0.57	0.70	0.73	0.56	0.66
Leverage Ratio	2.53	2.47	2.53	2.64	2.66	2.69	2.75	2.90	2.94	2.78	2.87
Compound Leverage Factor	12.76	1.19	3.25	3.54	-244.16	1.08	4.50	-12.49	-10.03	-0.06	3.77
Debt to Total Capital	35.75%	33.94%	34.95%	45.45%	46.02%	45.43%	46.85%	47.59%	48.18%	42.60%	44.18%
Short-Term Debt to Total Capital	5.80%	5.12%	34.95%	0.47%	0.66%	0.83%	1.04%	1.24%	1.26%	1.12%	1.17%
Long-Term Debt to Total Capital	29.95%	28.81%	0.00%	44.98%	45.37%	44.60%	45.82%	46.35%	46.93%	41.49%	43.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.25%	66.06%	65.05%	54.55%	53.98%	54.57%	53.15%	52.41%	51.82%	57.40%	55.82%
Debt to EBITDA	8.16	5.73	4.92	8.42	8.05	6.90	6.30	4.77	4.63	5.32	6.97
Net Debt to EBITDA	7.35	5.07	4.25	6.74	7.09	5.05	4.92	3.89	3.57	3.75	5.51
Long-Term Debt to EBITDA	6.84	4.86	0.00	8.33	7.93	6.78	6.16	4.65	4.51	5.18	6.79
Debt to NOPAT	-8.89	-13.68	-126.24	229.03	1,496.19	28.52	44.74	28.42	23.22	-143.23	-30.75
Net Debt to NOPAT	-8.01	-12.12	-109.13	183.29	1,318.31	20.86	34.93	23.16	17.90	-101.06	-24.30
Long-Term Debt to NOPAT	-7.45	-11.62	0.00	226.66	1,474.84	28.00	43.75	27.68	22.61	-139.47	-29.94
Altman Z-Score	-0.74	-0.64	-1.03	-0.73	-0.72	-0.49	-0.69	-0.62	-0.67	-0.57	-0.90
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.23	0.73	1.48	1.42	1.41	1.39	1.38	1.43	1.44	1.37
Quick Ratio	0.82	0.86	0.48	1.01	0.98	1.04	0.97	0.99	1.00	1.04	0.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-666	137	41	-15	-27	34	-36	34	77	-27	-59
Operating Cash Flow to CapEx	-459.71%	729.41%	521.29%	-315.42%	-168.45%	774.22%	-29.10%	-13.99%	478.40%	1,481.21%	-716.02%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.69	0.72	0.71	0.72	0.72	0.75	0.77	0.78	0.71	0.72
Accounts Receivable Turnover	3.44	3.09	3.51	3.46	3.29	3.19	3.82	3.75	3.72	3.47	3.85
Inventory Turnover	6.17	5.47	5.13	5.04	5.26	5.03	5.06	5.29	5.45	5.37	5.19
Fixed Asset Turnover	19.70	19.07	19.48	19.27	17.76	16.32	15.84	16.07	15.08	13.41	12.82
Accounts Payable Turnover	2.66	3.14	2.38	2.22	2.25	4.56	3.49	3.43	3.32	5.06	5.28
Days Sales Outstanding (DSO)	106.05	118.30	104.10	105.61	110.86	114.49	95.67	97.29	98.23	105.15	94.92
Days Inventory Outstanding (DIO)	59.14	66.73	71.14	72.47	69.42	72.52	72.17	68.97	66.95	68.02	70.36
Days Payable Outstanding (DPO)	137.30	116.17	153.45	164.40	162.29	80.02	104.48	106.31	110.05	72.16	69.07
Cash Conversion Cycle (CCC)	27.88	68.87	21.79	13.68	17.99	106.98	63.36	59.95	55.12	101.01	96.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	666	659	622	675	693	651	645	645	618	684	681
Invested Capital Turnover	2.50	1.15	1.27	1.20	1.19	1.27	1.32	1.31	1.33	1.27	1.25
Increase / (Decrease) in Invested Capital	666	-119	-51	14	26	-7.72	23	-31	-75	33	37
Enterprise Value (EV)	626	642	679	765	786	872	853	877	830	668	581
Market Capitalization	403	436	481	495	489	626	590	603	572	433	319
Book Value per Share	$2.59	$2.64	$2.46	$2.33	$2.27	$2.31	$2.17	$2.10	$2.03	$2.54	$2.39
Tangible Book Value per Share	($0.63)	($0.50)	($0.59)	($0.62)	($0.60)	($0.48)	($0.54)	($0.54)	($0.53)	$0.03	($0.09)
Total Capital	691	685	653	743	733	741	718	707	695	782	751
Total Debt	247	233	228	337	337	337	337	336	335	333	332
Total Long-Term Debt	207	197	0.00	334	332	331	329	328	326	325	323
Net Debt	222	206	197	270	297	246	263	274	258	235	262
Capital Expenditures (CapEx)	2.53	2.76	2.51	3.10	8.82	7.98	12	5.68	5.54	1.97	3.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	81	86	62	68	88	50	54	67	59	50	49
Debt-free Net Working Capital (DFNWC)	105	113	93	135	128	141	127	129	135	148	118
Net Working Capital (NWC)	65	78	-135	132	123	135	120	120	127	139	110
Net Nonoperating Expense (NNE)	14	11	21	15	13	20	13	14	14	-83	12
Net Nonoperating Obligations (NNO)	222	206	197	270	297	246	263	274	258	235	262
Total Depreciation and Amortization (D&A)	17	16	16	13	17	16	16	16	16	16	15
Debt-free, Cash-free Net Working Capital to Revenue	9.67%	10.42%	7.57%	8.44%	10.90%	6.05%	6.40%	7.74%	6.74%	5.88%	5.91%
Debt-free Net Working Capital to Revenue	12.61%	13.64%	11.34%	16.85%	15.86%	16.90%	15.24%	14.95%	15.58%	17.50%	14.34%
Net Working Capital to Revenue	7.80%	9.40%	-16.49%	16.41%	15.26%	16.16%	14.35%	13.93%	14.57%	16.46%	13.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	$0.05	($0.18)	($0.10)	($0.08)	$0.05	($0.15)	($0.06)	($0.07)	$0.50	($0.20)
Adjusted Weighted Average Basic Shares Outstanding	171.19M	170.41M	172.43M	173.79M	174.61M	174.04M	175.72M	176.75M	176.62M	176.20M	175.66M
Adjusted Diluted Earnings per Share	($0.08)	$0.05	($0.18)	($0.10)	($0.08)	$0.05	($0.15)	($0.06)	($0.07)	$0.50	($0.20)
Adjusted Weighted Average Diluted Shares Outstanding	171.19M	170.41M	172.43M	173.79M	174.61M	174.04M	175.72M	176.75M	176.62M	179.82M	175.66M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	171.73M	172.46M	173.91M	174.53M	175.38M	175.72M	176.54M	177.08M	176.60M	175.60M	176.14M
Normalized Net Operating Profit after Tax (NOPAT)	3.06	14	-7.29	-0.01	2.01	27	-9.99	6.63	4.70	13	-21
Normalized NOPAT Margin	1.51%	6.32%	-4.06%	-0.01%	0.95%	10.87%	-5.51%	3.01%	2.18%	5.78%	-12.77%
Pre Tax Income Margin	-4.38%	2.85%	-15.02%	-7.95%	-5.62%	3.21%	-14.88%	-4.04%	-4.17%	-0.11%	-25.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.59%	31.17%

Financials Breakdown Chart

Key Financial Trends

Ribbon Communications (NASDAQ: RBBN) showed a mixed but clearly improving operating picture over the past year, followed by a weak start to 2026. Revenue has been relatively stable to slightly lower, margins remain thin, and the business is still carrying a meaningful debt load. The good news is that the company has generated operating cash flow in several recent quarters, but Q1 2026 was a setback with a larger loss and negative operating cash flow.

Revenue held up reasonably well over the last year, with Q1 2026 revenue of $162.6 million versus $181.3 million in Q1 2025 and $179.7 million in Q1 2024.
Ribbon delivered strong profitability in late 2025, including $89.1 million of net income in Q4 2025, showing the business can swing sharply positive when conditions improve.
Operating cash flow was positive in Q4 2025 at $29.2 million and Q3 2025 at $26.5 million, which is a sign the core business can still throw off cash.
Cash and equivalents increased to $67.6 million in Q1 2026 from $60.5 million in Q2 2025 and $37.2 million in Q3 2024, giving the company some liquidity cushion.
Current assets of $408.5 million still exceed current liabilities of $298.8 million, indicating near-term asset coverage remains intact.
The company has been reducing debt over time, with long-term debt down to $323.0 million in Q1 2026 from $333.0 million in Q3 2024.
Gross profit was $69.7 million in Q1 2026, but the company still posted an operating loss, so gross margin gains have not yet translated into durable operating profitability.
Balance sheet equity remains positive at $419.1 million, but retained earnings are still deeply negative at $(1.57 billion), reflecting years of accumulated losses.
The company’s large noncash assets, including $300.9 million of goodwill and $134.2 million of intangibles, mean reported book value depends heavily on acquisition-related assets.
Q1 2026 included $2.0 million of restructuring charges, suggesting management is still working through cost actions.
Q1 2026 net income swung to a loss of $(34.5 million) from a profit of $89.1 million in Q4 2025, a major sequential deterioration.
Operating income turned negative again in Q1 2026 at $(31.7 million), compared with $9.3 million of operating income in Q4 2025.
Operating cash flow was negative in Q1 2026 at $(22.0 million), reversing the strong cash generation seen in late 2025.
Interest expense remains a burden: interest and investment income line items were negative, and cash interest paid was still high at $8.5 million in Q1 2026.
The company continues to spend heavily on marketing, R&D, and restructuring, which keeps operating expenses elevated relative to revenue.

Bottom line: Ribbon Communications has shown it can generate profits and cash in strong quarters, but the latest quarter was a reminder that profitability remains unstable. Investors should watch for whether management can sustain revenue, restore operating margins, and keep debt trending lower. Until then, the story looks more like a turnaround in progress than a consistently profitable business.

07/05/26 02:34 AM ETAI Generated. May Contain Errors.

Ribbon Communications Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ribbon Communications' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Over the last 10 years, Ribbon Communications' net income changed from -$31.90 million in 2015 to $39.64 million in 2025, a change of -224.3%. See where experts think Ribbon Communications is headed by visiting Ribbon Communications' forecast page.

Ribbon Communications' total operating income in 2025 was -$3.32 million, based on the following breakdown:

Total Gross Profit: $420.71 million
Total Operating Expenses: $424.03 million

Over the last 10 years, Ribbon Communications' total revenue changed from $249.03 million in 2015 to $844.56 million in 2025, a change of 239.1%.

Ribbon Communications' total liabilities were at $763.26 million at the end of 2025, a 0.7% increase from 2024, and a 758.2% increase since 2016.

In the past 9 years, Ribbon Communications' cash and equivalents has ranged from $26.49 million in 2023 to $128.43 million in 2020, and is currently $96.41 million as of their latest financial filing in 2025.

Over the last 10 years, Ribbon Communications' book value per share changed from 0.00 in 2015 to 2.54 in 2025, a change of 254.2%.

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Financial statements for NASDAQ:RBBN last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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