olivLaw · US equity research
Ribbon Communications Inc. RBBN
Services-Computer Integrated Systems Design · SIC 7373 · Vertical: Services-Computer Integrated Systems Design (SIC 7373)
Ribbon Communications supplies voice communications software, IP routing and optical networking to telecom operators, enterprises and critical sectors such as defense. The company sits at the intersection of AI adoption and rising fiber connectivity, while quarterly revenue remains volatile, with revenue of 844.6 million USD in 2025 and revised 2026 guidance of 810 - 840 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Ribbon Communications Inc. (RBBN) stock was 1.54 USD (−2.53% on the day), with market capitalisation 275.9 m USD, P/E 22.5 on diluted EPS of 0.07 USD over the last 12 months, beta 1.51, 52-week range 1.32–3.34 USD. Latest reported quarter (Q3 2026): revenue of 218.7 m USD (+1.6% YoY), net income of -9.1 m USD, diluted EPS -0.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 47.4
- neutral
- Bollinger (20, 2)
- 1.27 – 1.74
- in the upper half of the band · %B 0.58 · band width 31.4%
- SMA 50 / 200
- 1.72 / 2.23
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.04 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −9.4% | −1.1% | −8.3 pp | — |
| 3 months | −28.4% | −0.5% | −27.9 pp | — |
| 6 months | −42.5% | +4.4% | −46.9 pp | — |
| Year to date | −46.5% | +12.3% | −58.8 pp | — |
| 1 year | −51.4% | +13.5% | −65.0 pp | −33.2% |
| 3 years | −25.2% | +76.4% | −101.7 pp | −15.9% |
| 5 years | −74.6% | +63.7% | −138.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 251.4 m | 181.3 m | 220.6 m | 215.4 m | 227.3 m | 162.6 m | 192.3 m | 218.7 m |
| Cost of revenue | 111.3 m | 98.9 m | 111.3 m | 107.4 m | 106.3 m | 92.9 m | 102.0 m | 113.2 m |
| Gross profit | 140.1 m | 82.4 m | 109.3 m | 108.0 m | 121.1 m | 69.7 m | 90.3 m | 105.5 m |
| Research & development | 45.0 m | 43.6 m | 44.7 m | 45.9 m | 44.7 m | 44.4 m | 44.9 m | 44.4 m |
| Operating income | 33.2 m | -19.6 m | 4.2 m | 2.8 m | 9.3 m | -31.7 m | -12.2 m | 5.6 m |
| Pre-tax income | 8.1 m | -27.0 m | -8.9 m | -9.0 m | -241.0 k | -40.9 m | -25.2 m | -4.6 m |
| Income tax | 1.7 m | -754.0 k | 2.2 m | 3.1 m | -89.3 m | -6.4 m | 1.7 m | 4.6 m |
| Net income | 6.4 m | -26.2 m | -11.1 m | -12.1 m | 89.1 m | -34.5 m | -26.9 m | -9.1 m |
| Diluted EPS | 0.04 ≈ | -0.15 | -0.06 | -0.07 | 0.47 ≈ | -0.20 | -0.15 | -0.05 |
| Operating cash flow | 61.8 m | -3.5 m | -795.0 k ≈ | 26.5 m ≈ | 29.2 m | -22.0 m | -11.5 m ≈ | -14.4 m ≈ |
| Capex | 8.0 m | 12.1 m | 5.7 m ≈ | 5.5 m ≈ | 2.0 m | 3.1 m | 4.3 m ≈ | 1.1 m ≈ |
| Share repurchases | — | — | 2.3 m | 3.5 m | 3.2 m | 824.0 k | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 10-quarter history (min 11.0, median 20.5, max 122.2; quarters with earnings only).
Fiscal years
| Fiscal year | ⚠ 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 577.9 m | 563.1 m | 843.8 m | 845.0 m | 819.8 m | 826.3 m | 833.9 m | 844.6 m |
| Revenue YoY | — | −2.6% | +49.8% | +0.1% | −3.0% | +0.8% | +0.9% | +1.3% |
| Net income | -76.8 m | -130.1 m | 88.6 m | -177.2 m | -98.1 m | -66.2 m | -54.2 m | 39.6 m |
| Net income YoY | — | unavailable | unavailable | −300.0% | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.74 | -1.19 | 0.61 | -1.20 | -0.63 | -0.39 | -0.31 | 0.22 |
| Diluted EPS YoY | — | unavailable | unavailable | −296.7% | unavailable | unavailable | unavailable | unavailable |
| net % | -13.3% | -23.1% | 10.5% | -21.0% | -12.0% | -8.0% | -6.5% | 4.7% |
| Free cash flow | -17.5 m | 44.9 m | 74.8 m | 2.1 m | -36.6 m | 7.7 m | 27.8 m | 26.1 m |
The series breaks before 2018: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 96.4 m USD
- Financial debt
- 333.3 m USD
- Net debt
- 236.9 m USD
- Equity
- 449.0 m USD
- Total assets
- 1.2 bn USD
- Debt / equity
- 0.74x
- Current ratio
- 1.44x
- ROE
- 9.3%
- ROA
- 3.3%
- FCF margin
- 3.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 843.8 m | 845.0 m | 819.8 m | 826.3 m | 833.9 m | 844.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 393.0 m | 400.3 m | 418.8 m | 418.3 m | 394.4 m | 423.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 450.8 m | 444.7 m | 400.9 m | 408.1 m | 439.5 m | 420.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Research & development | 194.5 m | 194.9 m | 203.7 m | 190.7 m | 179.9 m | 178.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 1.7 m | -117.8 m | -48.3 m | -24.3 m | 16.9 m | -3.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 93.3 m | -208.1 m | -112.6 m | -55.4 m | -46.1 m | -45.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 4.7 m | -31.0 m | -14.5 m | 10.8 m | 8.2 m | -84.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 88.6 m | -177.2 m | -98.1 m | -66.2 m | -54.2 m | 39.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 0.61 | -1.20 | -0.63 | -0.39 | -0.31 | 0.22 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 144.7 m | 147.6 m | 156.7 m | 170.4 m | 174.0 m | 179.8 m | SEC (XBRL)· 26 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 128.4 m | 103.9 m | 67.3 m | 26.5 m | 87.8 m | 96.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 237.7 m | 282.9 m | 267.2 m | 268.4 m | 254.7 m | 231.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 45.8 m | 54.0 m | 75.4 m | 77.5 m | 79.2 m | 78.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 447.6 m | 481.0 m | 478.0 m | 418.7 m | 463.7 m | 454.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 48.9 m | — | — | — | — | — | SEC (XBRL)· 11 Mar 2022verified |
| Goodwill | 416.9 m | 300.9 m | 300.9 m | 300.9 m | 300.9 m | 300.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 417.4 m | 350.7 m | 294.7 m | 238.1 m | 187.5 m | 143.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.5 bn | 1.3 bn | 1.3 bn | 1.1 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 63.4 m | 97.1 m | 95.8 m | 85.2 m | 87.8 m | 79.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 3.5 m | 20.1 m | 20.1 m | 35.1 m | 6.1 m | 8.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 369.0 m | 350.2 m | 306.3 m | 197.5 m | 330.7 m | 324.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 327.6 m | 344.5 m | 330.5 m | 341.1 m | 328.9 m | 315.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 860.4 m | 820.6 m | 737.1 m | 691.4 m | 757.9 m | 763.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 686.9 m † | 527.2 m † | 518.4 m † | 452.8 m † | 404.6 m † | 449.0 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 101.6 m | 19.2 m | -26.4 m | 17.1 m | 50.2 m | 51.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 26.7 m | 17.1 m | 10.3 m | 9.4 m | 22.4 m | 25.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 74.8 m ≈ | 2.1 m ≈ | -36.6 m ≈ | 7.7 m ≈ | 27.8 m ≈ | 26.1 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -330.1 m | -14.2 m | -12.1 m | -9.5 m | -22.9 m | -25.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 319.3 m | -33.7 m | 931.0 k | -47.9 m | 37.7 m | -19.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 0 | 0 | — | — | — | 9.0 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 31 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 275.9 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation47
- Balance sheet31
- Quality25
- Growth14
- Returns58
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.42 – 13.07 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/Sales2.42 – 13.07 (Mid 5.34)13 companies used · median multiple 1.6x · quartiles 0.9x – 3.3xCACI, CREX, DAIC, FUSE, GDDY, HCTI, JKHY, KD, LDOS, OTEX, PSN, SAIC, WAY
- Peers: EV/EBITDAunavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 31/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 48.3% | 21 (on a fixed band) | 11% |
| EBIT margin · Quality | -3.6% | 56 (vs peers) | 9% |
| FCF margin · Quality | -3.6% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 1.0% | 4 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 1.3% | 35 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.3x | 31 (on a fixed band) | 7% |
| EV/Sales · Valuation | 0.7x | 82 (vs peers) | 18% |
| FCF yield · Valuation | -10.6% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 1.5% | 58 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial31/100 · 1/2 factors with a value
- Growth14/100 · 2/2 factors with a value
- Quality25/100 · 3/3 factors with a value
- Returns58/100 · 1/1 factors with a value
- Valuation47/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RIBBON COMMUNICATIONS INC. (RBBN). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 844.6 m USD in 2025; YoY growth 1.3%; net margin 2.3%; ROE 5.0%.
The estimated value range is 2.42–13.07 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 5.34 USD, the price of 1.54 USD leaves a potential of 246.5% (value / price − 1) and a margin of safety of 71.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 31/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/Sales: 0.7x
- The price is below the estimated value range
What contradicts it
- Gross margin: 48.3%
- FCF margin: -3.6%
- Revenue CAGR 3Y: 1.0%
- FCF yield: -10.6%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA.
Versus the vertical median
Services-Computer Integrated Systems Design (SIC 7373) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LDOSLeidos Holdings, Inc. | 16.6 bn | 12.2 | 28.2% | 8.0% | +3.1% | −29% / +26% |
| GDDYGoDaddy Inc. | 14.3 bn | 16.2 | — | 18.6% | +8.3% | −7% / +18% |
| CACICACI International Inc | 14.0 bn | 25.9 | 12.5% | 5.5% | +10.9% | +2% / +97% |
| JKHYJack Henry & Associates, Inc. | 12.6 bn | 25.7 | 24.0% | 19.8% | +7.1% | +3% / +13% |
| IONQIonQ, Inc. | 11.3 bn | — | -60.8% | -553.3% | +201.9% | −40% / +142% |
| OTEXOpen Text Corp | 6.4 bn | 10.3 | 16.2% | 12.3% | +1.5% | −21% / −34% |
| SAICScience Applications International Corporation | 6.3 bn | 17.6 | 25.7% | 5.1% | −2.9% | +75% / +28% |
| WAYWaystar Holding Corp. | 5.7 bn | 42.9 | 3.7% | 10.7% | +16.5% | −20% / unavailable |
| PSNParsons Corporation | 5.5 bn | 38.2 | 5.7% | 2.3% | −5.7% | −38% / −16% |
| KDKyndryl Holdings, Inc | 3.7 bn | 48.9 | 6.8% | 0.5% | +0.2% | −35% / −7% |
| AGYSAgilysys, Inc. | 3.5 bn | 78.5 | 13.6% | 12.9% | +15.9% | −0% / +42% |
| NTCTNetscout Systems Inc | 2.8 bn | 23.3 | 7.5% | 13.7% | +4.5% | +42% / +90% |
| AURAurora Innovation, Inc. | 2.6 bn | — | -45.7% | -13,328.6% | unavailable | −3% / +86% |
| PONYPony AI Inc. | 2.1 bn | — | -10.3% | -148.9% | +20.0% | −65% / unavailable |
| OSPNOneSpan Inc. | 872.9 m | 13.2 | 26.8% | 27.5% | +0.0% | +94% / +136% |
| TLSTelos Corporation | 378.2 m | — | -14.9% | -8.1% | +52.2% | −12% / +23% |
| SLPSimulations Plus, Inc. | 374.2 m | 46.7 | 6.2% | 9.9% | +13.1% | unavailable / unavailable |
| SMRTSmartrent, Inc. | 307.5 m | — | -7.6% | -11.0% | −12.9% | −6% / −48% |
| ASURAsure Software, Inc. | 293.6 m | — | -1.9% | — | +24.3% | +22% / +22% |
| VEEAVeea Inc. | 281.2 m | — | — | -2,491.9% | +56.6% | −55% / −98% |
| RBBNRibbon Communications Inc. | 275.9 m | 22.5 | 5.0% | 2.3% | +1.3% | −51% / −25% |
| KDKKodiak AI, Inc. | 220.7 m | — | — | -4,259.6% | −74.6% | −82% / unavailable |
| UISUnisys Corp | 171.4 m | — | — | -21.7% | −2.9% | −12% / −51% |
| AIOSAIOS Tech Inc. | 138.9 m | — | -208.9% | -4,359.1% | −98.5% | −87% / −86% |
| MRLNMerlin, Inc. | 91.5 m | — | — | — | unavailable | −92% / unavailable |
1- and 3-year price returns: for RBBN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.33 Total return -14% · Per year -14% | 2.35 Total return 53% · Per year 53% | 3.55 Total return 131% · Per year 131% |
| 3 years | 1.20 Total return -22% · Per year -8% | 2.40 Total return 56% · Per year 16% | 3.99 Total return 159% · Per year 37% |
| 5 years | 1.08 Total return -30% · Per year -7% | 2.45 Total return 59% · Per year 10% | 4.48 Total return 191% · Per year 24% |
- Exit P/E± 0.60
- Net margin± 0.42
- Annual revenue growth± 0.36
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
In brief
Ribbon Communications supplies voice communications software, IP routing and optical networking to telecom operators, enterprises and critical sectors such as defense. The company sits at the intersection of AI adoption and rising fiber connectivity, while quarterly revenue remains volatile, with revenue of 844.6 million USD in 2025 and revised 2026 guidance of 810 - 840 million USD 13.
SWOT
Strengths
- The company has an extensive operator installed base and a broad portfolio of voice, IP and optical products that supports cross-selling 1.
- The Cloud and Edge segment carries a high gross margin that supports overall profitability 1.
- Record IP Optical bookings in the second quarter of 2026 point to solid demand in North America 3.
Weaknesses
- Revenue is concentrated, and a single customer accounts for a significant share, making results sensitive to its decisions 1.
- Quarterly revenue is hard to predict, and much of the operating cost base is fixed in the short term 1.
- The operating loss in the first half of 2026 shows profitability is still fragile 2.
Opportunities
- Government broadband programs for rural areas and fiber investments in Europe and Asia could generate new orders 13.
- Integrating AI voice agents into contact centers could create a new source of recurring revenue 13.
- Migration of federal agencies to cloud communications could open public sector contracts 1.
Risks
- Customer concentrationhigh
A small number of customers generates a large share of revenue, and cuts in their orders could weigh on results 1.
- Revenue volatilityhigh
The timing of operator orders can shift revenue from one quarter to another, making period comparisons difficult 1.
- Tariffs and supply chainmedium
Tariff changes and reliance on contract manufacturers in Mexico and Asia could increase production costs 2.
- Geopolitical conflictsmedium
The war in Ukraine and the Middle East conflict could affect sales and call-ups of employees in Israel 12.
- Debt and goodwillmedium
Credit agreement terms may limit financial flexibility, and goodwill impairment could produce accounting charges 1.
Investment thesis
What would need to be true (bull case)
- If demand for fiber and optical networks holds, the IP Optical segment could keep growing from already record bookings.
- Third-quarter and full-year 2026 guidance points to sequential recovery, and management expects profitability to improve.
- Integration with AI agent platforms and AIOps could lift recurring software revenue over time.
What would break the thesis
- Revenue fell year on year in the second quarter of 2026, and the operating result was negative in the first half of the year.
- Dependence on a few large customers and an uncertain order calendar can make results hard to forecast.
- Tariffs, high interest rates and regional conflicts could delay purchases and keep pressure on margins.
What to watch
- Actual revenue against third-quarter guidanceQ3 2026
- Non-GAAP gross margin against the projected range for the third quarterQ3 2026
- Delivery of full-year revenue and adjusted EBITDA guidance2026
- Effect of tariffs and a possible USMCA termination on import costsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (27 Oct 2026 · results).
The business
Ribbon describes itself as a global provider of communications technology to service providers and enterprises, offering software, high-performance hardware, network solutions and services 1. The company was formed by the 2017 merger of Sonus Networks and GENBAND, and expanded through the 2020 acquisition of ECI Telecom, which added optical transport and IP routing 1. Headquarters are in Plano, Texas, with presence in over 30 countries 1.
Strategy emphasizes operational integration, modernizing networks with high technology debt, cross-selling to tier one providers and growing share in North American IP and optical networking 1. The company is also developing the Acumen AIOps platform and partnerships linking AI voice agents to existing networks 1.
Market context
The target market covers telecom operators, enterprises and critical infrastructure, where investment in fiber, 5G and data center networks is growing 1. Government programs such as the US BEAD fund, of 42 billion USD, support rural broadband expansion 1.
Demand is also shaped by cloud adoption of communications and the traffic load from AI applications, though operator investment can be postponed during periods of economic uncertainty 12.
Trends
- Fiber and data centerstailwind
Rising traffic from AI applications and government fiber programs could support demand for Ribbon's optical networks 13.
- Tariffsheadwind
US tariffs and uncertainty over the USMCA could raise import costs and delay customer purchases 2.
- Voice and cloud modernizationmixed
Migration of operators and federal agencies to cloud voice opens opportunities, but management expects a more moderate pace of acceleration 13.
- Interest rates and inflationheadwind
Interest rates remain high and core inflation persists, which may raise the cost of capital and operating costs 12.
Competitive position
The telecom equipment market is intensely competitive, with large incumbents that have greater financial and sales resources, plus new entrants from virtualization and cloud 1. Industry consolidation, including recent deals among vendors, could shift the competitive balance 1.
Ribbon competes on price, reliability and interoperability with multi-vendor networks, and states its advantage lies in its installed base and existing operator relationships 1.
- Ericsson
Large telecom equipment supplier named in the risk factors as part of the traditional ecosystem dominated by a few large players 1.
- Nokia
Network equipment company named in the filing, which acquired Infinera in 2025 1.
- Ciena
Optical networking supplier identified in the source as a direct competitor in optical transport 1.
- Cisco Systems
Large routing and networking vendor named as a competitor in telecom networking 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Ribbon made of carbon pentagons and heptagons has metallic propertiesNature · 28 Oct 2026 · EN
- Trump inaudible at helipad ribbon cutting amid press pool fightThe Hill · 21 Sept 2026 · EN
- CEO of Pabst Blue Ribbon offers $20,000 reward for stolen beer: 'I’m sure they look cool with a garage full of PBR'Yahoo Finance — News · 04 Sept 2026 · EN
- Russian defense chief presents St. George's Banner Ribbon to Battlegroup East unitTASS (RU, EN) · 15 Aug 2026 · EN
SEC filings
- Quarterly report28 Oct 2026
- Current report27 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report28 Jul 2026Results of operations · Financial statements and exhibits
- Current report17 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report05 Jun 2026Shareholder vote
- Quarterly report06 May 2026
- Current report28 Apr 2026Results of operations · Departure or appointment of officers · Financial statements and exhibits
- Proxy statement17 Apr 2026
- Current report15 Apr 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Ribbon Communications Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Ribbon Communications Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Ribbon Communications Inc. · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.