Ribbon Communications Inc. (NASDAQ:RBBN) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET
Company Participants
Joni Roberts - Senior Vice President & Chief Marketing Officer
Bruce McClelland - President, Chief Executive Officer & Director
Miguel Lopez - Executive Vice President & Chief Financial Officer
Conference Call Participants
Christian Schwab - Craig-Hallum
Dave Kang - B. Riley Securities
Trevor Walsh - JMP Securities
Tim Savageaux - Northland Capital Markets
Operator
Hello and welcome to the Ribbon Communications First Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to turn the call over to Joni Roberts, Chief Marketing Officer. Please go ahead, Ms. Roberts.
Joni Roberts
Good afternoon and welcome to Ribbon’s first quarter 2024 financial results conference call. I am Joni Roberts, Chief Marketing Officer at Ribbon Communications. Also on the call today, 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, rbbn.com or both, our press release and supplemental slides are currently available.
Certain matters we’ll be discussing today, including the business outlook and financial projections for second quarter of 2024 and beyond 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 in the supplemental financial information posted on our website. In addition, we’ll present non-GAAP financial information on this call. Reconciliations to the applicable GAAP measure are included in the earnings press release we issued earlier today, as well as 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’d like to turn the call over to Bruce. Bruce?
Bruce McClelland
Great. Thanks, Joni. Good morning, everyone and thanks for joining us at this new time today to discuss our Q1 results and outlook for the year. I'd like to start with a few comments on the major announcement we just released with Verizon this morning.
As I've mentioned on recent calls, there's a significant opportunity with telecom service providers in large enterprises, including the US Federal Government to complete the replacement of legacy TDM voice switching platforms with modern cloud-based solutions. There's a strong ROI for our customers with multiple benefits, including improved overall quality and reliability of the service, significant cost savings from lower power consumption and cooling requirements, a reduction in facilities and floor space that can be repurposed to meet the exponential growth and data consumption from mobile and broadband services and lower engineering and operations effort needed to manage this complex network. All while significantly reducing the environmental footprint made from providing this critical communication service.