Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $253M | $330M | $578M | $563M | $844M | $845M | $820M | $826M | $834M | $845M |
| Revenue growth | — | 30.6% | 75.2% | -2.6% | 49.8% | 0.1% | -3.0% | 0.8% | 0.9% | 1.3% |
| Gross profit | $168M | $201M | $347M | $317M | $451M | $445M | $401M | $408M | $440M | $421M |
| Gross margin | 66.4% | 61.1% | 60.1% | 56.3% | 53.4% | 52.6% | 48.9% | 49.4% | 52.7% | 49.8% |
| Operating income | -$13.6M | -$55.2M | -$65.4M | -$189M | $1.67M | -$118M | -$48.3M | -$24.3M | $16.9M | -$3.32M |
| Operating margin | -5.4% | -16.7% | -11.3% | -33.6% | 0.2% | -13.9% | -5.9% | -2.9% | 2.0% | -0.4% |
| Net income | — | — | -$76.8M | -$130M | $88.6M | -$177M | -$98.1M | -$66.2M | -$54.2M | $39.6M |
| Net margin | — | — | -13.3% | -23.1% | 10.5% | -21.0% | -12.0% | -8.0% | -6.5% | 4.7% |
| EPS (diluted) | -$0.28 | -$0.60 | -$0.74 | -$1.19 | $0.61 | -$1.20 | -$0.63 | -$0.39 | -$0.31 | $0.22 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $19.2M | $8.08M | -$9.60M | $55.7M | $102M | $19.2M | -$26.4M | $17.1M | $50.2M | $51.4M |
| Capital expenditures | $4.63M | $4.00M | $7.91M | $10.8M | $26.7M | $17.1M | $10.3M | $9.38M | $22.4M | $25.3M |
| Free cash flow | $14.6M | $4.08M | -$17.5M | $44.9M | $74.8M | $2.05M | -$36.6M | $7.71M | $27.8M | $26.1M |
| Share buybacks | $9.53M | $0.00 | $0.00 | $4.54M | $0.00 | $0.00 | — | — | — | $8.96M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $31.9M | $57.1M | $43.7M | $44.6M | $128M | $104M | $67.3M | $26.5M | $87.8M | $96.4M |
| Total assets | $308M | $911M | $957M | $815M | $1.55B | $1.35B | $1.26B | $1.14B | $1.16B | $1.21B |
| Total liabilities | $88.9M | $295M | $367M | $332M | $860M | $821M | $737M | $691M | $758M | $763M |
| Long-term debt | — | $20.0M | $0.00 | $46.0M | $369M | $350M | $306M | $197M | $331M | $325M |
| Shareholders' equity | $219M | $615M | $590M | $483M | $687M | $527M | $518M | $453M | $405M | $449M |
| Retained earnings | -$1.04B | -$1.07B | -$1.14B | -$1.27B | -$1.18B | -$1.36B | -$1.45B | -$1.52B | -$1.57B | -$1.53B |
| Shares (wtd avg diluted) | 49.4M | 58.8M | 104M | 110M | 145M | 148M | 157M | 170M | 174M | 180M |
Every figure is extracted from Ribbon Communications Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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