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Sep 30, 2025
Ribbon Q3 2025 Earnings Report
Ribbon Communications delivered steady Q3 2025 results with 2% year-over-year revenue growth, positive adjusted EBITDA, and solid performance across its IP Optical Networks and Cloud & Edge segments.
Key Takeaways
Ribbon Communications reported Q3 2025 revenue of $215 million, up from $210 million a year earlier. The company posted a GAAP net loss of $12.1 million ($-0.07 per share) and non-GAAP EPS of $0.04. Adjusted EBITDA reached $28.9 million, supported by strong contributions from the IP Optical Networks segment and disciplined cost management.
Revenue was $215 million, increasing 2% year over year from $210 million.
Non-GAAP adjusted EBITDA was $29 million, consistent with prior-year levels.
GAAP gross margin was 50.1%, while non-GAAP gross margin was 52.6%.
Cash flow from operations was $26 million, with cash balance rising to $77 million.
Revenue by Segment
Forward Guidance
For Q4 2025, Ribbon projects revenue between $230 million and $250 million, non-GAAP gross margin in the range of 55% to 56%, and adjusted EBITDA between $42 million and $48 million. The company expects continued strength in IP Optical Networks and a stable demand environment across its customer base.
Positive Outlook
- Projected Q4 2025 revenue between $230 million and $250 million.
- Expected non-GAAP gross margin of 55% to 56%.
- Forecasted adjusted EBITDA of $42 million to $48 million.
- Strong IP Optical Networks performance expected to continue.
- Stable demand from Global Service Providers and enterprise customers.
Challenges Ahead
- GAAP earnings guidance not provided.
- Impact from foreign exchange headwinds estimated at $3 million.
- Minor delays in U.S. Federal Government Cloud & Edge projects.
- Macroeconomic and geopolitical factors could affect demand timing.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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