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Wednesday, February 21, 2018

=Vonage (VG) reported earnings on Wed 21 Feb 2018 (b/o)

Vonage reports EPS in-line, revs in-line; guides FY18 above consensus 
  • Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.09; revenues rose 2.9% year/year to $254 mln vs the $254.19 mln Capital IQ Consensus. 
  • Vonage Business revenues were $134 million, representing 53% of total revenues and 21% GAAP growth in the fourth quarter of 2017. Full year revenues increased 33% to $499 million.
  • Fourth quarter UCaaS revenues were $94 million, of which $74 million were service revenues. Service revenues increased 16% year-over-year on an organic3 basis. UCaaS revenue churn was 1.2% in the fourth quarter of 2017, flat sequentially and down from 1.4% the prior year.
  • Nexmo, the Vonage API Platform revenues +36% organically to $40 million in Q4; full year Vonage API platform revenues were $140 million, up 39% year-over-year on an organic basis. The Company increased its registered developers on the Vonage API Platform to 430,000, a sequential increase of 59,000.
  • Consumer revenues were $120 million in the fourth quarter, down 12% from the prior year quarter, and the fifth consecutive quarter of a lower year-over-year rate of decline in revenue.
  • Co issues upside guidance for FY18, sees FY18 revs of $1.03-1.045 bln vs. $1.03 bln Capital IQ Consensus Estimate. Vonage Business revenues in the range of $590 million to $605 million, with first quarter 2018 Vonage Business revenues expected to be in the range of $136 million to $137 million. Consumer revenues in the range of $435 million to $440 million reflecting the Company's continued focus on optimizing the business for cash flow. Consolidated Adjusted OIBDA of at least $195 million, including the impact of Topic 606, with first quarter 2018 Adjusted OIBDA in the low $40 million area.  

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