Ribbon Communications reported Q4 2020 revenue of $244 million, compared to $161 million for the fourth quarter of 2019, an increase of 52%. Revenue for 2020 was $844 million, compared to $563 million in 2019, an increase of 50%. Approximately $89 million of the year-over-year revenue increase in the fourth quarter and $261 million of the increase in 2020 was attributable to the Company's acquisition of ECI Telecom Group, which closed on March 3, 2020.
"We are very pleased with our fourth quarter results, in particular our second consecutive quarter of record adjusted EBITDA as we benefitted from strong sales and gross margins, along with efficiencies in operating expense," noted Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. "We are excited to carry this momentum forward in 2021 as we continue to focus on growing our IP Optical sales and improving overall profitability."
Highlights
- In addition to the company's first IP Optical win in North America with a Top 4 cable MSO, Ribbon earned new IP Optical business with 5 regional telco carriers
- Closed significant new orders with North American Tier-1 service providers
- Revenue from customers outside the United States increased to 60% of total sales in 4Q20; international highlights include:
- New network transformation project with a Tier-1 carrier in CALA using new virtualized C20 Call Session Controller
- Secured the first large-scale OTN deployment for metro access for a defense customer in Europe
- Implementing metro optical networks globally with Telecom Italia and collaborating with them to win new regional public, private, and enterprise IP optical opportunities in Europe
- Signed over $10 million in Cloud and Edge deals in Japan with Tier-1 service providers
- 4Q20 India sales consistent with those in 3Q20 with improvements in several accounts
