Ribbon Communications Inc. · NASDAQ:RBBN
Ribbon Communications — Q2 2026 Earnings Presentation
21 slides from Ribbon Communications's earnings presentation, Jul 28, 2026
Slide 1: Ribbon Communications Second Quarter 2026 Financial Results
Ribbon Communications Second Quarter 2026 Financial Results July 28, 2026 © 2026 Ribbon | Public 1
Slide 2: Note Regarding Forward-Looking Statements and Non-GAAP Financial Measures
Note Regarding Forward-Looking Statements and Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties. All statements other than state
Slide 3: Second Quarter 2026 Business Overview
Second Quarter 2026 Business Overview Bruce McClelland, President & CEO Rick Marmurek, Executive Vice President & CFO © 2026 Ribbon | Public 3
Slide 4: Second Quarter 2026 Highlights | Consolidated
Second Quarter 2026 Highlights | Consolidated REVENUE GROSS MARGIN1 ADJUSTED EBITDA1 CASH FROM OPERATIONS $192M 49% $12M ($12M) ▲ +$30M QoQ ▲ +350 bps QoQ ▲ +$20M QoQ Ending Cash Balance $45M ▼ ($28M) YoY ▼ (280) bps YoY ▼ ($20M) YoY 6% Adj. EBITDA1 Margin Market Grow th Customer Highlights Record I
Slide 5: Key Financial Trends
Key Financial Trends1 Adjusted EBITDA1 Cloud and Edge Revenue ($ millions) IP Optical Networks Revenue Adj. EBITDA Margin % $40 $32 $29 $12 $251M $221M $227M $6 $210M $215M ($8) $87 $192M 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $181M $85 $84 $82 $91 $163M Trailing Twelve Months Adjusted EBITDA1 $82 ($ million
Slide 6: Highlights | IP Optical Networks
Second Quarter 2026 Highlights | IP Optical Networks REVENUE GROSS MARGIN1 ADJUSTED EBITDA1 ADJ. EBITDA1 MARGIN $82M 35% ($6M) (7%) ▲ +$19M QoQ ▲ +680 bps QoQ ▲ +$11M QoQ ▲ +1870 bps QoQ ▼ ($2M) YoY ▼ (70) bps YoY ▼ ($1M) YoY ▼ (80) bps YoY Book to revenue of 1.6x Reflects changes in geographic and
Slide 7: Highlights | Cloud and Edge
Second Quarter 2026 Highlights | Cloud and Edge REVENUE GROSS MARGIN1 ADJUSTED EBITDA1 ADJ. EBITDA1 MARGIN $111M 60% $18M 16% ▲ +11M QoQ ▲ +300 bps QoQ ▲ +$10M QoQ ▲ +800 bps QoQ ▼ ($26M) YoY ▼ (210) bps YoY ▼ ($19M) YoY ▼ (1100) bps YoY Large Enterprise Wins YoY Impacted by Lower U.S. Service Provi
Slide 8: Key Metrics | Consolidated
Second Quarter 2026 Key Metrics | Consolidated Revenue Mix Profitability Balance Sheet Cash Flow Enterprise 33%2 49% Gross Margin1 Senior Term Loan Debt3 $338M Cash Position @ $45M Service Provider 67%2 Operating Expenses1 @ $88M 4.7M Warrants Outstanding ($12M) Cash from Operations 34% Maintenance
Slide 9: Non-GAAP Financial Summary
Second Quarter 2026 Non-GAAP1 Financial Summary 2Q25 1Q26 2Q26 Revenue $221M $163M $192M Non-GAAP Gross Margin1 52% 46% 49% Non-GAAP Opex1 $87M $87M $88M Non-GAAP Operating 13% (8%) 4% Margin1 Non-GAAP Adjusted $32M ($8M) $12M EBITDA1 Non-GAAP Diluted EPS1 $0.05 ($0.05) ($0.03) 1. Please see the dis
Slide 10: Key Market Trends & Outlook
Key Market Trends & Outlook rlIODON
Slide 11: Operating Environment in 2026
Operating Environment in 2026 Shifting Govt & Critical Competitive Infrastructure Environment Communications ▪ Industry consolidation Fiber & DCI Agentic & continues – both supplier Investment ▪ Major voice AI Voice and Service Provider – Network modernization projects creates both opportunity ▪ Exp
Slide 12: Growing Regional Data Center Interconnect (DCI) Opportunity
Growing Regional Data Center Interconnect (DCI) Opportunity AI infrastructure requires massive edge-to-core data transport Ribbon Positioned to Win Rural DCI % of data centers in the USA • Optical scaling Urban Rural • Cross-sell into rural telecom installed base • Edge AI Factories and Rural Data C
Slide 13: Defense – Continued Momentum
Defense – Continued Momentum Network Expansion IP & Optical Networks Voice Networks • Major systems integrator and technology • Modern cloud based unified voice provider of secure data communication communications portfolio infrastructure • Unique and differentiated tactical voice • Hardened integra
Slide 14: Expanding Presence in Critical Infrastructure Networks
Expanding Presence in Critical Infrastructure Networks Winning in Critical Infrastructure Differentiated Value • Security – Critical need to modernize to protect from new Telecom Network threats Utility Telecom Services Proven broadband portfolio • Reliability – AI and automation to accelerate troub
Slide 15: Third Quarter and Full Year 2026 Business Outlook
Third Quarter and Full Year 2026 Business Outlook 3Q25 FY25 3Q26 FY26 (Actual) (Actual) (Outlook) (Outlook) Revenue $215M $845M $215M to $230M $810M to $840M Non-GAAP Gross Margin1 52.6% 52.3% 51% to 52% 51% to 52% Non-GAAP Adjusted EBITDA1 $29M $107M $26M to $31M $78M to $88M 1. Please see the disc
Slide 16: Appendix
Appendix
Slide 17: Ribbon Key Revenue Statistics
Ribbon Key Revenue Statistics USD Millions except for percentages 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 2Q26 Revenue Product 82 115 110 128 435 68 96 Service 99 106 105 100 410 94 97 Total Revenue 181 221 215 227 845 163 192 % of Total Revenue: Revenue Mix Product 45% 52% 51% 56% 51% 42% 50% Services 55% 48
Slide 18: Quarterly Non-GAAP Segment Trend | Cloud and Edge
Quarterly Non-GAAP1 Segment Trend | Cloud and Edge Cloud and Edge – 2025 2026 1Q 2Q 3Q 4Q FY25 1Q 2Q Revenue $108M $137M $124M $142M $511M $100M $111M vs Prior Year +6% +24% (3%) (14%) +1% (8%) (19%) Non-GAAP 63% 62% 62% 68% 64% 57% 60% Gross Margin1 Non-GAAP Adjusted $20M $37M $28M $48M $134M $8M $
Slide 19: Quarterly Non-GAAP Segment Trend | IP Optical Networks
Quarterly Non-GAAP1 Segment Trend | IP Optical Networks IP Optical Networks – 2025 2026 1Q 2Q 3Q 4Q FY25 1Q 2Q Revenue $74M $84M $91M $85M $333M $63M $82M vs Prior Year (6%) +2% +11% (2%) +1% (14%) (2%) Non-GAAP 28% 36% 39% 34% 35% 28% 35% Gross Margin1 Non-GAAP Adjusted ($15M) ($5M) $1M ($8M) ($27M
Slide 20: Second Quarter 2026 GAAP Financial Summary
Second Quarter 2026 GAAP Financial Summary 2Q25 1Q26 2Q26 Revenue $221M $163M $192M Gross Margin 50% 43% 47% Operating Expenses $105M $101M $103M Income (loss) from $4M ($32M) ($12M) operations Other (expense) income, net ($13M) ($9M) ($13M) Net income (loss) ($11M) ($34M) ($27M) Diluted EPS ($0.06)
Slide 21: Thank You
Refer to the supplemental schedules including financial results, key stats, and non-GAAP reconciliations on the investor relations website at investors.ribboncommunications.com Thank You © 2026 Ribbon | Public 21
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