Ribbon Communications Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Cover page
Show cover page
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|---|
| For the quarterly period ended March 31, 2024 | |
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number 001-38267
(Exact name of Registrant as specified in its charter)
| Delaware | 82-1669692 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. Employer Identification No.) |
6500 Chase Oaks Boulevard, Suite 100, Plano, Texas 75023
(Address of principal executive offices) (Zip code)
(978)614-8100
(Registrant's telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.0001 | RBBN | The Nasdaq Global Select Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x Noo
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x Noo
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☒ | Non-accelerated filer | ☐ |
|---|---|---|---|---|---|
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act)o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ Nox
As of May 10, 2024, there were 173,909,887 shares of the registrant's common stock, $0.0001 par value per share, outstanding.
FORM 10-Q
QUARTERLY PERIOD ENDED MARCH 31, 2024
TABLE OF CONTENTS
| Item · Page | ||
|---|---|---|
| Cautionary Note Regarding Forward-Looking Statements | 3 | |
| PART I FINANCIAL INFORMATION | ||
| 1. | Financial Statements | |
| Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (unaudited) | 4 | |
| Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) | 5 | |
| Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 (unaudited) | 6 | |
| Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (unaudited) | 7 | |
| Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) | 8 | |
| Notes to Condensed Consolidated Financial Statements (unaudited) | 9 | |
| 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 34 |
| 3. | Quantitative and Qualitative Disclosures About Market Risk | 45 |
| 4. | Controls and Procedures | 45 |
| PART II OTHER INFORMATION | ||
| 1. | Legal Proceedings | 46 |
| 1A. | Risk Factors | 46 |
| 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 46 |
| 5. | Other Information | 46 |
| 6. | Exhibits | 47 |
| Signatures | 48 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.