Ribbon Communications (RBBN)
Modernizes carrier voice networks and supplies optical transport equipment to telecom operators worldwide.
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Formed through a 2017 merger of two voice-infrastructure vendors, the business sells session-border-controller-based voice modernization to telecom carriers and enterprises, plus optical-transport and IP-routing equipment gained through a later acquisition and concentrated in Indian, European, and North American carrier networks. The voice-modernization line carries most of the profitability.
Formed in 2017 by merging two established voice-infrastructure vendors, the business sells communications and network gear to carriers, enterprises, and critical-infrastructure operators worldwide.
Its larger, more profitable line modernizes carrier and enterprise voice networks around session border controllers, paired with a cloud communications platform and services that shift legacy voice systems onto it; global carriers, including major U.S. providers, are core customers.
A second, acquired line supplies optical transport and IP routing and switching gear, sold heavily into India alongside customers across Europe and North America; it still trails the voice business on margin and has absorbed a multi-year drop in Eastern European demand since sales there were halted.
Its IT systems were breached in late 2025 by an actor reportedly linked to a nation-state, adding one-time remediation costs alongside recurring litigation expenses.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Rosenblatt | Downgrade | ||
| Jul 29, 2026 | B. Riley | Upgrade | ||
| Jul 29, 2026 | C.L. King | Target | Target: $6 | Target: $3.30 |
| Feb 11, 2026 | Craig-Hallum | Target | Target: $6 | Target: $3 |
| Feb 6, 2026 | Northland Securities | Target | Target: — | Target: $4 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $43.5M · Total debt $397.0M · Total assets $1.14B · Shareholders' equity $392.6M
- Revenue
- $192.3M
- Operating income
- −$4.8M
- Net income
- −$26.9M
No dividends on record.
| Institutions | ≈ 72.15% | 129.03M shares | |
|---|---|---|---|
| 165 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 4.05% | 7.24M shares | |
| 13 holders · as of Jul 15, 2026 | |||
| Other | ≈ 23.80% | 42.55M shares | |
| remainder | |||
178.82M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
JPMorgan Chase & CoInstitution | 29.10% | 52.04M | as of Jun 30, 2026 |
Neuberger Berman Group LLCInstitution | 10.24% | 18.31M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 4.00% | 7.15M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 3.52% | 6.29M | as of Jun 30, 2026 |
Royce & Associates LPInstitution | 2.85% | 5.09M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 10, 2026 | Bruce William McClelland | director, officer: President & CEO | +12,000 | $2.06 |
| Feb 11, 2026 | Bruce William McClelland | director, officer: President & CEO | +12,500 | $1.99 |
| Feb 13, 2026 | Bruce William McClelland | director, officer: President & CEO | +12,500 | $1.98 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ribbon Communications | $1.82 | −1.17% | $329.0M | 22.6 | 13.0 | 0.4 | −12.8% |
| Cisco Systems | $106.21 | −0.22% | $419.53B | 32.0 | 20.7 | 6.6 | +17.6% |
| Nokia (ADR) | $10.73 | −0.88% | $58.44B | 76.8 | 25.5 | 2.5 | +2.3% |
| Ciena | $361.27 | −1.98% | $52.17B | 82.3 | 34.9 | 8.7 | +37.0% |
| Oracle | $147.17 | −1.31% | $429.54B | 23.4 | 17.3 | 6.0 | +29.6% |
| AudioCodes | $10.64 | +2.16% | $265.0M | 40.9 | 16.4 | 1.1 | +3.1% |
| ADTRAN | $7.22 | −1.03% | $590.5M | — | 20.3 | 0.5 | +6.1% |
| Ericsson (ADR) | $9.79 | −0.34% | $32.25B | 13.2 | 20.1 | 1.4 | −5.4% |
| Hewlett Packard Enterprise | $61.82 | +1.29% | $80.83B | 31.8 | 13.6 | 1.9 | +33.5% |
| Median | 32.0 | 20.2 | 2.2 | +11.8% |