Ribbon Communications Inc. (NASDAQ:RBBN) Q2 2022 Earnings Conference Call July 27, 2022 4:30 PM ET
Company Participants
Bita Milanian - Senior Vice President, Global Marketing
Bruce McClelland - President and Chief Executive Officer
Miguel Lopez - Chief Financial Officer
Conference Call Participants
Paul Silverstein - Cowen Inc.
Tim Savageaux - Northland Capital Markets
Dave Kang - B. Riley Securities
Operator
Greetings, and welcome to Ribbon Communications Second Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Bita Milanian, Senior Vice President, Global Marketing. Please go ahead.
Bita Milanian
Good afternoon, and welcome to Ribbon’s second quarter 2022 financial results conference call. I’m Bita Milanian, SVP of Marketing at Ribbon Communications. Also on the call today are Bruce McClelland, Ribbon’s Chief Executive Officer; and Mick Lopez, Ribbon’s Chief Financial Officer.
Today’s call is being webcast live and will be archived on the Investor Relations section of our website at rbbn.com, where both our press release and supplemental slides are currently available. Certain matters we will be discussing today, including the business outlook and financial projections for the third quarter and full year 2022 are forward-looking statements.
Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those contained in these forward-looking statements. These risks and uncertainties are discussed in our documents filed with the SEC, including our most recent Form 10-K. I refer you to our Safe Harbor statement included on Slide 2 of the supplemental slides for this conference call.
In addition, we will present non-GAAP financial information on this call. Reconciliations to the applicable GAAP measures are included in the earnings press release we issued earlier today as well as in the supplemental slides we prepared for this conference call, which again, are both available on the Investor Relations section of our website.
And now, I would like to turn the call over to Bruce. Bruce?
Bruce McClelland
Great. Thanks, Bita, and thanks to everyone for joining us today to discuss our second quarter results and our outlook for the remainder of the year. We had solid performance in the second quarter with financial results in line with our expectations and within our guidance. Revenue was $206 million and adjusted EBITDA was $21 million. Sales increased 19% versus the first quarter this year. And we had a particularly strong quarter in North America, with sales of our Cloud & Edge products and services increasing 33% sequentially led by a $25 million increase in voice over IP network transformation sales quarter over quarter.