Ribbon Communications Inc. (NASDAQ:RBBN) Q1 2022 Earnings Conference Call April 27, 2022 4:30 PM ET
Company Participants
Bita Milanian - SVP, Marketing
Bruce McClelland - CEO
Mick Lopez - CFO
Conference Call Participants
Paul Silverstein - Cowen
Tim Savageaux - Northland Capital Markets
Dave Kang - B. Riley
Operator
Greetings. Welcome to the Ribbon Communications First 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] Please note, this conference is being recorded.
I'll now turn the conference over to your host Bita Milanian, Senior Vice President of Marketing for Ribbon. You may begin.
Bita Milanian
Good afternoon, and welcome to Ribbon's first 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 second 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 first quarter results and our outlook for the remainder of the year. Financial results for the first quarter were in line with our expectations and at the midpoint of our guidance. Revenue was $173 million and adjusted EBITDA was a loss of $8.7 million.
We successfully navigated the continued supply chain related challenges, including new issues like the increased delays being incurred for material transiting through the shipping ports in Shanghai. We expect margins to continue to be affected by higher material and logistics costs again in the second quarter, but fees associated with expediting components are beginning to lessen and as a result, combined with higher revenues, we expect margins to improve this quarter and as the year progresses.