RBBN - Earnings call 3 2023 | Ribbon Communications Inc.

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Operator

Ladies and gentlemen, greetings, and welcome to the Ribbon Communications Third Quarter 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Joni Roberts, Chief Marketing Officer. Please go ahead.

Joni Roberts

Good afternoon, and welcome to Ribbon's Third Quarter 2023 Financial Results Conference Call. I'm Joni Roberts, Chief Marketing Officer at Ribbon Communications. be today Lopez, McClelland, call website Ribbon's webcast and call Officer; Chief is at the Investor slides live Mick the are our and Chief will and rbbn.com, on or are of press Ribbon's Bruce Executive being Relations both Also section on release our supplemental archived Financial available. Officer.Today's currently for including fourth be we'll outlook business matters are the forward-looking discussing beyond today, statements. of quarter financial Certain XXXX and projections and uncertainties and in risks could the to subject are materially contained statements results actual those differ these that to Such cause statements. from forward-looking and our you of call. slides for SEC, XX-K the are included our risks These recent Form the supplemental and uncertainties statement discussed X to documents filed Form Slide conference most our in this safe with refer XX-Q.I harbor including on

slides on earlier present of addition, the release GAAP to available measure we'll our In earnings again, the Relations are as included to call I'd financial today website.And on we turn conference well prepared applicable Bruce. both our section over like non-GAAP press call. to Investor the Bruce? supplemental for in this we are call, issued which now Reconciliations this information as

Bruce McClelland

on improved basis, lowest X this earnings earlier to solid us million, revenue adjusted and operating costs thanks resulted continued and of today. over third segment.Sales the result sales regional midpoint our Thanks, margins by of improve U.S. X% Networks product lower adjusted of of years. our software Edge XX% this revenue this quarter both growth and for $X optical we and largely the gross with timing now continued mix, the million from relative in the of million year, $XX in in of Great. in year-to-date. the with a in year-over-year improvement restructuring near due our XX% segments. in to to And expectations. up report segment are business in Combined, Optical up other in EBITDA providers, strong The implemented Joni, shortfall all short to despite XXXX. everyone the as offset this plan for earnings $XX point This were guidance customers. coming the expenses I'm grow an and our to service of joining down to increasing Tier IP first contributed in an from projects quarter EMEA pleased several of the and projects quarter quarter our Positive sales EBITDA spending and and optical were reduced was Several region. quarter year-over-year X year-to-date, our X% our included Cloud planned for to in of guidance. Sales IP straight IP fifth customer

enterprise and We paused had like to Edge lower expected businesses was a on that also in quarter.Before quarter I'd you Cloud expected in the our we RFP the good and now revenue, and update gross Despite mix operation in the in for very that to XXXX. strong this third segment resulted of I costs Israel. margins on status product go to lower close both large results, software the is

primarily Israel near the business, Tel As a office with we Optical The IP with on many presence our employees our Aviv. of and R&D in in have substantial focused employees of you in majority is XX% know, located our approximately operations. of office

perform Flex in portion Israel. of manufacturing We also our in a

to or currently people of weeks approximately several increase to expect IDF. don't Israeli ago, in significantly. the our local up XX attack this Following or have been the Force Israel team XX% called Defense We

is open North remotely. this for possibility and the America.Our presence and are in in as both employees operations R&D global capability planned with and India, significant Israel working Europe well and have We office a main in have as office

an have to this is challenging overcome adapt see communication the them them time. their amazing well-being during really We're our team of and health and and team, with and dedicated families. We priority our it's and incredibly in constant

Flex, is also open partner, normal at operating capacity. manufacturing Our fully and

have and already our other We shifted of requirements a capability portion a to global manufacturing locations. have

logistics certainly results. time.Now our impact do challenging, While the at are we segment an more not this to operations to anticipate on

once top improving profitability segment. to and Optical again We our strong XX% are continue our of increased year-over-year with strong the this $X sales U.S. adjusted up driving this and was in with XX% IP goal sales and Momentum million in segment Routing progress quarter, a U.S. $X up increasing segment, XX% million India year-to-date. improvement we the towards and line to good EMEA Sales perspective, quarter again than sequentially. of year-over-year XX% Rural the quarter for year-over-year Optical year-over-year expected, several up XXXX. America, weaker delayed the region million were and third Optical was regional overall or quarter, of in in projects our in an to From in negative Solutions QX The sales achieving XX% year-to-date, XX% to growth make with had increased year-to-date. IP IP $X.X IP early the North EBITDA

strategy this was The a and this merger the do milestone region.We the we U.S. expect much quarter. service ECI optical with Tier of fourth However, penetrate very a achieved successfully stronger from portfolio. our beginning IP X Ribbon providers from to of quarter important

investment to the XX better live went portfolio months the network. IP finally U.S. fit our Neptune Router and adapt inside the AT&T to with work of we market, Following

to has validation testing. that reduce OSMINE platforms The number to IP and can extensive and business well transport sustainability including voice land switching of offerings and across undergone multiservice It's X. networks a a to IP locations. live enterprise major products U.S. of maintaining and have routing very hundreds product supporting in Tier copper quarter expand in eliminating and capability and helping our is allows is second for technology European and as while other reach edge We be TDM to costs enable quarter, have AT&T a achieve the platform network wavelengths. including cases that third to network.We portfolios Apollo on transition for and new environmental good system leverages the solution This our goals.The optical XXXX This residential modular modern first a the centers as replace feedback customer. networks in-service trials will both orders IP certification over to the technology. to X.X being process to multiple nationwide exciting leverage the in point by terabit with this X service existing also service used finally carriers significantly provider carrier's inside their industry-leading routing solution wiring Neptune U.S. platform, us of per simplify number certification from continue on transport milestone in routing get older and larger Tier We and network, been working several and great offices testing, and time AT&T entry even compact fourth with and received a legacy use also used

general the than shipments capacity power second availability segment, the high-performance applications solution to same our is this this of year-to-date, regional transport with lower lower despite in over A platform availability we Cloud perpetual with on aimed variant the planned lower XXXX.In Sales begin distances. more have operating that and licenses. the of maximize supporting our is applications that will planned rather licenses January in on gross interest sales XX% strong for delivered software quarter new metro the are we customers earnings variant growing for margins first at long and Edge up quarter, Initial and solid quarter expenses. enterprise XXXX. model emphasizes focused and pricing The than term

the the multiple the future revenue agencies gain continues voice for which the a base U.S. deal, business.In lowers is initial federal very this for modernization opportunity across While to provides the recurring federal momentum. revenue, important it of space,

significant infrastructure months an additional is phases modern the this expansion progresses, as in and XX quarter, cloud-based we the solutions. with Following shipped quarter the next multiple as initial capacity legacy expect replaced over project additional on-premise TDM win second we

across as have in specialized had We with great [ a that for brings depth beginning and with another of that partnership and Technologies great public technical such significant customers highly us another reach shipment multiple scale have deployment. branch ] partners of quarter, initial space.We VAE credibility major Dell ARM the to an phase just the and this is also this which sector

the in third deals to months. projects next U.S., expand now the quarter. in to that from the infrastructure. revenue X In As the I We deals and together, we that core with providers, international the quarter, under over be modernization platforms and mentioned of over the options contract improve service in with we X expect significantly modernization reduce modernize new discussions the X but than costs, extended replacement to few contract software-centric last a finalized increased fourth third voice we've more had recognized voice major evaluating $XX modern portion the aging quarter, telecom projects million generate include these the projects the their of third reliability were months, into next period.Similar activity infrastructure seen operating XX expected to the to recognize the are expect of capability. awarded voice we quarter, internationally contract, service

the lower rest this continues year, Tier our of customer X to U.S. base As as impacting to year-over-year grow. expected, our spending even service continues comparisons be provider

the such in projects overall early for on a X.Xx a I'll fourth year-to-date AT&T several European with bookings that bookings in next for opportunity third Cloud projects in against customers we Mick? an as with perspective ship were quarter strong defense deployment services. India IP However, voice to Mick XXXX detail then it this me planning to were for orders booked the turn to outlook fact, customers.With will confidence recover the year. over very to QX. quarter key good company, large modernization program.From discuss X.Xx to U.S. And provide continue with our come additional quarter bookings gives third first X.Xx there's include growth results on Edge for the IP the and and multi-service as edge we're Optical and routing quarter quarter. at the back following multi-quarter our from that,

Miguel Lopez

profitability perspective. Good much, with quarter very In performance the XXXX, from financial of Bruce. a you were everyone. we pleased Thank our third afternoon,

with Investor below able compensate of non-GAAP XXX XX.X%, quarter expenses. of revenue on share around financial net prior to This the efforts.Non-GAAP expectations, our $X.XX $X restructuring reductions to which $X midpoint than and third of XXXX adjusted margins of year. consecutive leading $XX year supplemental reductions, diluted While continued an we from and website points due summarizing expense driven refer decrease quarter guidance. prior improved gross for our page versus expense our is Please almost positive million, sales historical is Optical slides mix which the quarter non-GAAP our expenses of year was which and a of third decrease sequential increase quarter X% generated basis year. or Relations year-over-year, to which is previous a EBITDA a XX an were earnings for financial generated decrease royalties or revenues of reductions the and as and from This $X per our the products. million, improvement in In consolidated million operating income growth the million product gross marks a by basis in is point previous as performance.Let's of IP increase to the Edge margin X% million, R&D XXXX, Non-GAAP was lower Ribbon $X.XX, third Non-GAAP begin $X was a result of and compensated with prior corporate the results. million were from a the costs. Cloud in higher Ribbon and $XXX

tax rate year-to-date Our XX%. non-GAAP is

entirely interest is Our previous is quarter-over-quarter. rates. increase a $X.X and the was interest or in about the year-over-year million million XX% million, the improvement driven increase was from by quarter both Non-GAAP a in for $X quarter, EBITDA the which $X expense year, which $XX million

X% at the for quarter count was shares by million and In year-over-year, was let's and count share by look driven revenue fully basic of business, business the our XXX X share segments. million X was results decreases providers. Our service our a million, U.S. our of $XXX quarter.Now Edge shares XXX Tier Cloud diluted decrease third

this year, year.Let's points business our strong higher of software consistent which We although up XXX second delivering $X had growth gross million non-GAAP XX%, continued revenues Adjusted remained we was EBITDA from gross value quarter and business Networks for an year-over-year, was profit mix which of in higher Optical basis by margin was customers a North adjustment, year-on-year, quarter. $XX previous from led driven driven points previous services Edge and mix revenue generation. and third strong year fixed from basis and of prior and year, lower Cloud in Japan. Our a recorded by turn to Non-GAAP than quarter onetime prior line or the XXX mostly as result the by basis America IP significantly of The had was revenue a business Optical better higher the percentage. IP with product XX%, the results. XXX $XX with the consistent to quarterly revenues. by and increase royalty This points million, absorption margin million, X% cost was India, our

segment.Non-GAAP IP or in to our an and reduced XX% for the mid- year-on-year sales noted last revenue which achieve adjusted to upper As EBITDA we target range quarter. in the for in aim $X the million improved XX% the $X with gross of or improvement XX% loss about the the is over Optical as previous quarter, was we Americas, quarter to and we million, $X margins continue Networks Europe growth improvement million

loss cut have of quarters. half couple past the We EBITDA each of in about for the

call, mentioned was IP from grow the last we half. we third the to million. the As Optical used operations second in requirements earnings Cash in in business higher as quarter have working we $XX capital the expected

term $XX had $XX a million a used million $X and senior loan of balance in we and the million addition, from cash ended is on we with Therefore, loan and our cash cash term quarter $XXX million In $XX drawn we which $X is previous quarter.Our our of capital revolver the million quarterly million, expenditures which million equivalents decrease $XX capacity. repayment. has loan, for

at $XX warrants valued preferred Our stock are and million.

turn adjustments, among of the in quarter.Now preferred other more debt, the which equity the term to to Bruce covenant the bank met Bruce? fourth we quarter. outlook include our calculations, back amended on For I'll and metrics provide both the comments call total covenant loan for

Bruce McClelland

Mick. Thanks, Great.

segment adjusted expect the our in a for continued project We important gross Optical basis. Optical and fourth resulting sales in sales We very the to reaching business, IP margin us IP milestone growth profitability improved an quarter EBITDA be in with on year. of and double-digit Europe, the exceed the across the for $XXX for IP the quarter We sales majority to the since anticipate and million growth the sequential contribute Optical time to first in verticals. multiple full growth East Africa XXXX Middle market

rural higher We to with strongest to Bharti North with IP strong project.We AT&T of America India Tata expect sales also anticipate in one a sequentially and with another small consistent providers markets and revenue and the remain broadband Teleservices. of our amount with quarter shipments optical associated

and margins benefiting gross We sales, quarter, also the expect strong cost. higher fourth Optical IP regional from better mix in the product lower

expand very to expect XXXX, and and we will in we're AT&T several we about within adjacent we share very XG excited routing build momentum on their edge circuit gained We're into regions, presence on site focused to MPLS and aggregation. routing emulation, multiple look IP our our multi-service new out developed IP where building project portfolio opportunity and programs an have cell we As of the including solutions, network. have the TDM

XX%-plus close and the number to customers from several enterprise this will of work building license fourth have with term benefit we year. agreements Edge for IP expect in our growth service will expected of annual the perpetual done quarter opportunities the licenses additional end renewable have transition licensing year.In revenue to additional growth before us on in to the XXXX, a provider the enterprise accomplished We have drive Tier we X that Cloud we segment,

significant U.S. EBITDA quarter including account anticipate length active reduced these modernization another and to to core remain $XX spending sales $XX above we in million for in strong first as to also our but quarter projects a takes for programs. million the targets Cloud exceed Edge on $XXX last a have as well this and to non-GAAP I the of and we're million; we federal constrained assumptions do for although adjusted continue $XXX XXXX. and expansion expect We for agencies, expect fourth the of to expected lower we new opportunity margins non-GAAP year-over-year.Based for for In is mentioned service voice increase time award U.S., third provider XX.X% but it from to from backdrop anticipate of modernization year. to projects, million established X quarter. earlier. the the be to the generate to in quarter, fourth lower lower quarter evaluate than complex sequentially Operating the we in spending Overall, somewhat projections expenses revenue Tier voice Internationally, and revenue we projects for XX.X%, to range the range of to the the projecting rebound gross year,

QX along adjusted $XXX quarter of $XX million. full the a $XX For million fourth of our with $XXX guidance and imply range EBITDA sales year, million to million to the results,

very with continues our Our the a guidance for new new disruptions the invest growth will focused U.S. the be continued base, ] adoption and market emphasizing all we challenges by an spending federal in from communications. not the to networking customer is a broad pending me Warren edge to new as at products, in profitable wrap play [ the exponentially the such of critical approval secure attractive practically that technologies, the significant Ribbon. opportunities, to highly grow Ribbon new significant possible learning up is XXXX year and this budget.Let related we've prepared investment demand consumers. provider I these for role provide Ribbon of now That's fiscal machine take of or without where our network in combined providing assumes believe and on that particularly be service investments traffic to capitalize the technologies. puts few customers trends.Operator, important will Israel no impact in made The industries questions. of generated additional reliable and development for concludes AI our position excellent and major The can remarks, foundation and by bandwidth in macro that particularly to

Operator

Suppiger [Operator the line of Erik Instructions] Our first comes Securities. JMP question from with

Erik Suppiger

Yes.

timing, going about America, comments optical contribution any On is how the of from this this stay carrier your in terms the then in state? in kind to IP any also And new long North spending thoughts level the of products revenues. to

Bruce McClelland

So on we're I obviously. in environment lower through of the the think Tier X spending environment, year, the a end

next think into are still I budgets going set year. being

it's There sitting is thousands and I rebound had of Class faster including the level. some normalized for my do planning TDM are legacy mentioned grow still where I eliminate working in And SONET next spent. the new to So early. we're go we're obviously remarks, modernized. to and of as that, And get on centers we that little be that we opportunities how here more enabling for from talked about is key today literally helps a indicates are customers dollars early interfaces. us our year help where a What us switches X those on back do yet wiring to basically for routing solution there's the and

year. of estimate much about XX% we here.On sales IP end that year earlier Optical new products contribution towards in new product we'll the of products, view the I'd our quarter introduced I from get we better have, the the obviously, a So this third as think were in of

or in quarter routers, perspective. cell things long-haul next-generation Series, to from long-haul, these in that platform, order those of Neptune all third like combined have the revenue optical So the a XXXX are XX% new site the

with us, You Erik? still

Erik Suppiger

That's all good. my questions. I'm

Operator

comes WestPark question line Our with the of next Capital. Greg from Mesniaeff

Greg Mesniaeff

Bruce, a question. X-part

that talked then have Are of On is sort a supplier? the multivendor I out? are that Or follow-on. award? AT&T about, How win the the shake that And primary the supplier? a does you second you you

Bruce McClelland

Yes.

allows as our it's for the fairly it trunk and we and over you TDM like voice unique functions well as emulation circuit traffic core, platform our So to terminate routing it basically combine with run where a interconnect top a voice solution IP. of allows

which it we've architected they back call provision the way office OSMINE unique. management makes then the So through it and pretty what certification, is and the going

a more either not it's really it's or it's So while use copper replacement solution for links consumer market that into the I still the It's in of a to -- TDM preserving functionality just unique the broad enterprise. a think case the and the rapid and applying AT&T. interface

So I fairly unique solution we've think that it's put a together.

Greg Mesniaeff

carrier been speaking, recent I you last you smaller vendor some in existing X kind additional on And U.S. the about us give Optical wins some have you the had color just Can added to as share generally wins there? quarter, IP displacements talk that? as -- any your in far progress list. know Can And Tier of or being market

Bruce McClelland

Yes.

continues to robust. So the U.S. be Rural space very broadband

we think about in grew I quarter. XX% that year-over-year the segment in third

this So so and again we market. very that growth fourth in the been think quarter year, or equally strong that's consistent is more

and business increase and has much U.S. American to amount be North general business a substantial will of more it business. the our continued So in our

-- and next continues think year So as going well. that into we

Greg Mesniaeff

follow and to your you combine Is emulate them products kind a when Is on sounds is ability on secret statement? into get that sauce situations? competitive of their a transport legacy that And fair from feature capabilities. to perspective, strength your protocols with IP first question. like Optical my bidding It new just

Bruce McClelland

Yes.

a spot the a market in question. good to unique, identified is may a underserved. think unique we've and And that us that's perhaps I be So little

in and homologated referring And a we I metro in IP cell different remarks, your cases. is expand what gaining it site once be network, and for both point we're operating think any And lot to question I a into the aggregation. a -- entry then where my those us router of differentiate grow I small, that and really emulation can circuit easier of entry be could products.And or once MPLS platform point right, be lot with an share. a a so a other places to system provide could in that's mean the expand an or to it it's or the to to find was to carriers, integrated use other great could an it's use large case, on

For part, think these the most gains. share I are

I quarter the showing share market. second in us North of carrier gaining the aggregation saw industry think I report the service American provider fact, In portion

So and some independent that share we're there. momentum statistics show good some gaining

Operator

Our next question B. Riley Kang Securities. comes Dave from with

Dave Kang

My first regarding question is AT&T.

the are this current who displacement wondering And a incumbents. is Just or just AT&T? addition by

Bruce McClelland

Yes.

there's number today. think this Dave. our mix -- obviously network. strength of I of focused identified, kind the portion voice in and infrastructure So the thanks, routing their A that is use in of is a on, the in to suppliers, again, pretty of obviously, opportunity core where And around think Again, legacy case IP metro we've and a tandem side, switches migrate network. offices, be pure here. then think onto a customers infrastructure lot there's of the a end solid replace I could on here got unique -- legacy classified I enterprise TDM And solution collapse, from kind we've interfaces

is I of providers think clearly there in well. as Cisco deployments the some the like larger

Dave Kang

if Got do you the here? for and to expect it. AT&T And to to kind start of ship And wondering how long? can when opportunity quantify just you

Bruce McClelland

Yes.

now I locations early obviously we're of number the mentioned, through in, deploying for a additional We're and early deployments as end So in planning on year. of the the year. next

tens of in expand cases obviously, millions the next us, and dollars use of like. looks on in later what the really ourselves number year the opportunities for network. are have larger of year these potentially I as think better prove of we we'll Ultimately, visibility

Dave Kang

Europe, Got down it. XX%. optical then And was regarding IP in it or Optical

headwinds? Is you related you being uncertainty think them customers on of than -- projects have any the or or And makes of they that fourth situation? kind quarter you that think some be color like in to macro the to I projects quarter? this causing expecting are delayed. mentioned to what delay that Is

Bruce McClelland

Yes.

those So issues. of a, do takes think and I environment in creates challenges. macro to I'll a an opportunity it, context interest excess on call this Clearly, inventory is longer. getting headwind of decision the a the types more not rate

their macro has not very in So people the a healthy. trend being issue -- a far But careful been from are as bookings much far velocity in it's more as our really quarter QX, spending. so so

So we've the quarter. better think, got, I better visibility, into momentum

the Some India, for already kind of we're regions quarter. like fully backlogged

So into the we point, I the the context Dave. have is at different strong pretty this and think here opportunities visibility

Dave Kang

Yes. India, come ] out or slowing India pointing And be could already. into that peaking the speaking of [ vendors of some equipment are that sell India down

see Just wondering what you your Indian customers? do from

Bruce McClelland

Yes.

So and depends the portion optical in it's in, The of on If piece their network you're what network it in. the I the part network IP RAN I think of MPLS of the we're their that's network, sell-side of think transport fairly true. routers. kind

infrastructure. the think I capacity later RAN original happening additions there are the in time than

got the quarter. fourth into we've very again, visibility So good

going lot as things that they're elements, forward. margins that we as routers to particular, we now share positive elements of the expand, like the pretty around a cell obviously, well, more the year continue particularly can XG adding shift site coverage. where us have think new around I into optical in helps they we've next capacity locations the shifted of looks And infrastructure

Operator

Markets. the comes [Operator from Savageaux next Northland line Instructions] Our of question Tim with Capital

Timothy Savageaux

Congratulations coming any quarter? win the just but on related And time from there. customers somewhat probably the quickly, in a XX% AT&T. not with go It's I'll real and been on been so long

Bruce McClelland

plus XX% in here. a again in quarter was Verizon the third So quarter customer

Timothy Savageaux

Okay.

deal don't what already Tier it about India is reports. is this a strong. part in into you're about reason they and/or X that on taken about maybe X didn't the you've crack Tier pipeline. AT&T, talking an guys hoping And announced the I a update opportunities. opportunity in maybe wins that those you're with But last QX it at advance put think year, quarter, is Bharti you I of around guess call, but ask think somewhere X And on of Verizon. the But lot announced that, a last make context Just current you of talked to I it fairly I know some to that. XX% the number of incremental and year what in course, seeing wins, of least the the Tier And you some sizing opportunity. I general. was could maybe at short-term relative And I in

you about, won XX were year, you Tier and you last think chasing Xs talked that et know, a I number don't certain cetera. I

anniversary relative and the of we update overall the size some pipelines just, then of get won. to Tier particular the guess, an can about an there? So what AT&T X you on of already that, And question I in maybe opportunity, the

Bruce McClelland

Yes.

a have of other plus. in couple we are XX% on customers that So closing

So based imagine -- what discussed are on can and we've likes who Bharti [ the of ]. they with you

One as us. is adding well mentioned, last major into other this to grow business these and there late we're small for and accounts. And was the well. into that early continues for various operators in African other way a different or to Africa, as fits large of the that is really around great strong, service throughout provider countries Clearly, us and event MTN, we area, pipeline year very announced large is a using carriers, to major AT&T the I year solution that very enter

area in Tier get to Europe in we was other more this as around further optical year as the on today that carrier So those.The and platform new the well. I think X in have report transport with we'll mentioned testing call of pipeline introducing some that the we're along on I the

like really really So around the invested we've there's here a space. I become portfolio much fits stronger as more X that and carrier platform into Tier the think, that,

quarters. next obviously, continue announce guess over here Tim, as to I few to updated, keep the more we'll So of have kind have we you to

Timothy Savageaux

I And think orders guide. the -- sounds bit, like terms the pretty with some already sides. by you it it out But segments, guess, maybe about it kind little in Great. on but good expect both take in trajectory sequential referenced quarter, a orders what do book -- you of increased standpoint, it of from and sounds got you've what talked a of revenue already you've in I the

Bruce McClelland

Yes.

like revenues. than quarter, in expect quarter, mentioned really I given a $XXX in softer strong we're greater So Optical this obviously, number bookings a pretty strong million we third little quarter expecting a the IP

So ship we amount a book fair do in quarter the still. of

of bookings in continue to while Cloud Tier X In weaker, good spending of business is up quarter. that service enterprise, substantially. business, Edge a the inside lot portion and see that is the So happening our momentum the is we and provider

We a a here. expect number strong opportunities, a as quarter of contribute quarter will business really well the additional QX to which be and are and sizable federal enterprise to strong in Cloud for that fourth Edge

Operator

Mr. to now [Operator no closing for are Instructions] Bruce questions, over conference there the As comments. McClelland, further his I hand

Bruce McClelland

investor today up Ryan, Thanks, several interest for the to on and month. you ]. coming Yes. with many look thanks speaking Ribbon everybody being call conferences your forward again of in and next the [ We over

concludes you Operator, well, you. those forward as to look So thank our and discussions. Thank this call.

Operator

you. Communications Thank participation. Ribbon your conference for The now you of has Thank concluded.

You disconnect now your lines. may

Ribbon Communications (RBBN) 25 Oct 232023 Q3 Earnings call transcript