Vonage Reports First Quarter 2020 Financial Results

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Go back to Vonage Reports First Quarter 2020 Financial Results

Vonage (VG) Tops Q1 EPS by 4c; Provides 2Q & FY20 EPS/Revenue Guidance

May 7, 2020 7:14 AM EDT

Vonage (NASDAQ: VG) reported Q1 EPS of $0.05, $0.04 better than the analyst estimate of $0.01. Revenue for the quarter came in at $297.46 million versus the consensus estimate of $279.46 million.

First Quarter 2020 Highlights:

Consolidated Revenues of $297 million (including $14 million of USF revenues)Business Segment Revenues of $210 million (including $4 million of USF revenues)Service Revenues of $196 million, a 23% IncreaseAPI Platform Revenues Increased 44%Applications Service Revenues Increased 10%Net Loss of $4 Million and Adjusted EBITDA of $39 million

We had a strong first quarter, highlighting the power of our programmable platform strategy, said Alan... More