Slide 1: Ribbon Communications First Quarter 2026 Results
Ribbon Communications First Quarter 2026 Results April 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: First Quarter 2026 Business Overview
First Quarter 2026 Business Overview Bruce McClelland, President & CEO John Townsend, Executive Vice President & CFO © 2026 Ribbon | Public 3
Slide 4: Key Financial Trends
Key Financial Trends1 Cloud & Edge Revenue Adjusted EBITDA1 IP Optical Networks Revenue Adj. EBITDA Margin % ($ millions) $251M $40 $227M $32 $29 $221M $210M $215M $6 ($8) $87 $193M $181M $84 $85 1Q25 2Q25 3Q25 4Q25 1Q26 $82 $91 $163M $82 $74 $63 Trailing Twelve Months Adjusted EBITDA1 ($ millions)
Slide 5: First Quarter Highlights | Consolidated
First Quarter Highlights | Consolidated Q1 2026 Market Growth Revenue Voice Network Modernization Data Center Interconnect (DCI) $163M Agentic AI and Acumen AIOps Platform Quantum Key Distribution (QKD) Encryption for Secure Optical Networks Gross Margin1 46% Customer Highlights Cloud Native SBC Sol
Slide 6: Non-GAAP Segment Financial Highlights | IP Optical Networks
Non-GAAP1 Segment Financial Highlights | IP Optical Networks Revenue (14%) Revenue Decline Year over Year Adjusted EBITDA1 Book to Revenue @ 1.5x ($ millions) $1 Customer Trends India Network Investments ($5) ($8) Critical Infrastructure and Defense Strength ($15) ($16) Data Center Interconnect (DCI
Slide 7: Non-GAAP Segment Financial Highlights | Cloud & Edge
Non-GAAP1 Segment Financial Highlights | Cloud & Edge Revenue Adjusted EBITDA1 (8%) Revenue Decline Year over Year ($ millions) U.S. Service Provider Decline Year over Year U.S. Federal Opportunities Timing Market Trends $48 $37 $8 $20 $28 Cloud Native Leadership Commercial Deployment on AWS Q1 Fina
Slide 8: First Quarter 2026 Key Metrics | Consolidated
First Quarter 2026 Key Metrics | Consolidated Revenue Mix Profitability Balance Sheet Cash Flow Enterprise 28%2 46% Gross Margin1 Senior Term Loan Debt3 $340M Cash Position @ $70M Service Provider 72%2 Operating Expenses1 @ $87M 4.7M Warrants Outstanding ($22M) Cash from Operations 39% Maintenance R
Slide 9: First Quarter 2026 Non-GAAP Financial Summary
First Quarter 2026 Non-GAAP1 Financial Summary 1Q25 4Q25 1Q26 Revenue $181M $227M $163M Non-GAAP Gross Margin1 49% 55% 46% Non-GAAP Opex1 $86M $90M $87M Non-GAAP Operating 1% 16% (8%) Margin1 Non-GAAP Adjusted $6M $40M ($8M) EBITDA1 Non-GAAP Diluted EPS1 ($0.03) $0.59 ($0.05) 1. Please see the discu
Slide 10: Key Market Trends & Outlook
Key Market Trends & Outlook rlIODON
Slide 11: Rural DCI – Offering New Engagements
Rural DCI – Offering New Engagements Ribbon Positioned to Win Rural DCI States with Greatest % Data Center Growth • Cross-sell into rural telecom installed base 160% • Open, thin transponder design 140% ‒ Enables dual source supply in constrained market 120% ‒ A new class of transponders which use s
Slide 12: Operating Environment in 2026
Operating Environment in 2026 Govt & Critical Shifting Infrastructure Competitive Communications Environment ▪ Industry consolidation ▪ Major voice continues – both supplier Network modernization projects Fiber and Service Provider – Agentic & that require convergence creates both opportunity Modern
Slide 13: Embracing AI Opportunities
Embracing AI Opportunities Multiple paths to engage with customers as they embrace AI AIOps and Automation Global Engagements • Faster Outcomes: Low code/ no code applications • Unified Observability: Across layers 0-7 • Open and Multi-vendor: No vendor lock-in • End-to-End Automation: AIOps, DevOps
Slide 14: Second Quarter and Full Year 2026 Business Outlook
Second Quarter and Full Year 2026 Business Outlook 2Q25 FY25 2Q26 FY26 (Actual) (Actual) (Outlook) (Unchanged) Revenue $221M $845M $185M to $195M $840M to $875M Non-GAAP Gross Margin1 52.1% 52.3% 49.0% to 50.0% 52.5% to 53.5% Non-GAAP Adjusted EBITDA1 $32M $107M $9M to $14M $105M to $120M 1. Please
Slide 15: Appendix
Appendix
Slide 16: Ribbon Key Revenue Statistics
Ribbon Key Revenue Statistics USD Millions except for percentages 1Q25 2Q25 3Q25 4Q25 FY25 1Q26 Revenue Product 82 115 110 128 435 68 Service 99 106 105 100 410 94 Total Revenue 181 221 215 227 845 163 % of Total Revenue: Revenue Mix Product 45% 52% 51% 56% 51% 42% Services 55% 48% 49% 44% 49% 58% R
Slide 17: Quarterly Non-GAAP Segment Trend | Cloud & Edge
Quarterly Non-GAAP1 Segment Trend | Cloud & Edge CLOUD & EDGE – 2025 2026 1Q 2Q 3Q 4Q FY25 1Q Revenue $108M $137M $124M $142M $511M $100M vs Prior Year +6% +24% (3%) (14%) +1% (8%) Non-GAAP Gross 63% 62% 62% 68% 64% 57% Margin1 Non-GAAP Adjusted $20M $37M $28M $48M $134M $8M EBITDA1 Non-GAAP Adjuste
Slide 18: 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 Revenue $74M $84M $91M $85M $333M $63M vs Prior Year (6%) +2% +11% (2%) +1% (14%) Non-GAAP Gross 28% 36% 39% 34% 35% 28% Margin1 Non-GAAP Adjusted ($15M) ($5M) $1M ($8M) ($27M) ($16M) EBITDA1
Slide 19: First Quarter 2026 GAAP Financial Summary
First Quarter 2026 GAAP Financial Summary 1Q25 4Q25 1Q26 Revenue $181M $227M $163M Gross Margin 45% 53% 43% Operating Expenses $102M $112M $101M Income (loss) from ($20M) $9M ($32M) operations Other (expense) income, ($7M) ($10M) ($9M) net Net income (loss) ($26M) $89M ($34M) Diluted EPS ($0.15) $0.
Slide 20: Thank You
Refer to the supplemental schedules including financial results, key stats, and non-GAAP reconciliations on the investor relations website investors.ribboncommunications.com Thank You © 2026 Ribbon | Public 20