Vonage's Dramatic Transition Led By Google's Former Head Of Apps And Chrome Has Gone Largely Unnoticed
ACM Research Team • 11 Comments
ACM Research Team • 11 Comments
The Diffusion Of Vonage Into New Markets Can Take It Even Higher
Thu, Jun. 30, 10:57 AM
- Vonage Holdings (NYSE:VG) has added Gary Steele to its board of directors.
- Steele is the founding CEO for security-as-a-service firm Proofpoint, and Vonage is counting on him to add software-as-a-service expertise to their growing cloud and business presence.
- Before joining Proofpoint, Steele was CEO of Portera.
- "Not only will his knowledge and understanding of the evolving enterprise SaaS market provide invaluable insights for management, but his strategic experience with global B2B service and subscription businesses will help Vonage continue to grow as we realize our mission of becoming the global leader in Cloud Communications," says Vonage CEO Alan Masarek.
Tue, Jun. 14, 12:51 PM
Thu, May 5, 10:50 AM
- Vonage Holdings (NYSE:VG) opened strong, then tanked 12.5% after posting a Q1 beat along with news that it's acquiring communications platform company Nexmo for $230M.
- Revenue by segment: Business, $74M (up 76%); Consumer, $153M (down 14%).
- Customer churn was 2.2%, down from the prior year's 2.4%. In Business, revenue churn was 1.3%, down from last year's 1.4%. With the company shifting toward its Business segment, ending seats were 564,000, up from a year-ago 338,000 (includes organic growth as well as SimpleSignal and iCore customers).
- The deal for Nexmo -- a Communications Platform-as-a-Service company -- is in cash and stock. Vonage expects annual cost synergies of $5M from the acquisition, amid a CPaaS market growing to $8B by 2018.
- With the acquisition, Vonage has updated guidance -- now expecting GAAP revenue for 2016 of $950M-$960M (Business revenues of $365M-$370M). It sees EBITDA of at least $150M after a small loss in that area from Nexmo the rest of the way.
- Press Release
Thu, May 5, 8:32 AM
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Fri, Feb. 12, 3:31 PM
- Vonage Holdings (NYSE:VG) is up 0.4% today after a "messy" quarter, according to Oppenheimer, which cut its price target to $6.50 from a previous $8.
- The company had initially dropped off heavily, as much as 11.2% yesterday, after it supplied light forward guidance in its Q4 earnings report. But shares recovered to finish with a 1.5% gain.
- The acquisition of Icore and termination of Basic Talk hurt the guidance, says analyst Timothy Horan, but "We believe the results mask the underlying strength of the business. Business bookings in the quarter were strong, and VG is exiting unprofitable consumer products, which we believe is the correct strategy."
- The company can use free cash flow to keep making accretive acquisitions, he writes, and the company trades at a big discount to pure-play business peers.
- Shares are trading at $4.74, implying 37% upside in Oppenheimer's target. Meanwhile, FBN Securities upgraded the shares to Outperform.
- Previously: Vonage down 7.3% after guiding to lighter full-year revenues (Feb. 11 2016)
- Previously: Vonage Holdings beats by $0.01, beats on revenue (Feb. 11 2016)
Thu, Feb. 11, 10:05 AM
- Vonage Holdings (NYSE:VG) is off 7.3% after its Q4 results, which beat expectations but featured full-year revenue guidance short of analyst expectations.
- Adjusted EBITDA of $33.8M was down from a prior-year $35M and beat an expected $33.1M.
- Revenue at Vonage Business was $71M, up 149% on a GAAP basis. Revenue churn in Vonage Business was 1.1% compared to a prior-year 1.5%.
- In Consumer Services, revenue was $159M (down 14.5%) as the company redeployed capital into unified communications-as-a-service for business. Churn improved to 2.2% from a prior-year 2.4%. ARPU fell to $26.93 from $28.06 and net line losses were about 58,000.
- For the full year, it's guided to revenue of $905M-$920M, short of an expected $933M. It sees adjusted EBITDA of at least $150M.
- Conference call link
- Press Release
Thu, Feb. 11, 8:08 AM
Wed, Feb. 10, 5:30 PM
- AAP, AB, ACOR, ALLE, ALU, AVP, AYR, BG, BTU, BWA, CCE, COR, CPLA, CVE, DBD, FAF, FLIR, GNC, GPI, GRA, HUN, INCY, INT, IVC, K, KKR, LC, LIOX, LPX, MANU, MFC, MGI, MOS, MWW, NCI, NICE, NILE, NLSN, NNN, NOK, NTWK, NWE, OZM, PAG, PDS, PEP, PNK, Q, RAI, SHPG, SON, STC, TAP, TCK, TEVA, TGH, THS, TIME, TRI, TRIP, TZOO, VG, WBC, WOOF, WSO, WWAV, WWE
Nov. 24, 2015, 10:16 AM
- Vonage Holdings (VG -2.5%) has named Susan Quackenbush its new chief human resources officer, effective Nov. 30.
- She joins from the same post at Presidio Inc., and has prior experience at BT Group and Thomson Reuters.
- Vonage has some 1,400 employees spread across 30 locations in the U.S., the UK and Israel.
Nov. 4, 2015, 9:41 AM
- Vonage Holdings (NYSE:VG) has jumped 15.6% after its Q3 results eked out a beat on revenues for Q3 and produced in-line earnings.
- A transition to business lines is bearing fruit as acquisitions added customers in that area and average revenue per seat rose more than 17%.
- Revenue by segment: Business, $57M (up 134% on GAAP basis; up 36% on organic basis); Consumer Services, $166M (down 12.6%).
- Average monthly revenues per line were $27.38, down from a prior-year $27.60. Customer churn fell to 2.3% from last year's 2.6%, but up slightly from Q2's 2.2%.
- In Business, average monthly revenues per seat were $41.56, up from the prior year's $35.39. Revenue churn was flat at 1.3% sequentially and Y/Y.
- Consumer services ended the quarter with 2M subscriber lines; Business ended with 514,000 seats, up from a year-ago 242,000 seats, aided by adding Telesphere, SimpleSignal and iCore customers.
- With the closing of its iCore acquisition, Vonage updated full-year guidance on GAAP revenue to $891M-$895M (higher than an expected $888M) and adjusted EBITDA of $142M-$144M (over an expected $138M).
Nov. 4, 2015, 8:02 AM
- Vonage Holdings (NYSE:VG): Q3 EPS of $0.06 in-line.
- Revenue of $223.36M (+0.7% Y/Y) beats by $2.1M.
- Shares +1.9% PM.
Nov. 3, 2015, 5:30 PM
- AFAM, AGN, AMRN, ARCC, ARCO, ARQL, ARRY, AVA, AVP, AXAS, BDX, BIOS, BSFT, CBB, CDW, CECO, CHK, CLH, CRK, CRL, CRTO, CRZO, CST, CSTE, CTSH, DAVE, DDD, EE, EMES, FOR, FOXA, GDP, HAE, HEP, HMC, HSIC, HSNI, INXN, KELYA, KORS, LINC, LL, MEMP, MFA, MNTA, MSI, MWE, NAVB, NCT, NEWP, NRG, NYLD, REGN, SBGI, SCMP, SE, SHOP, SNH, SODA, SSYS, STNG, TESO, TMHC, TWX, USAK, VG, VOYA, VRTU, VSI, WCG, WD, WEC, WEN, WILN, WIX, WMC
Oct. 5, 2015, 9:42 AM
- Vonage (NYSE:VG) is up 2.1% early as it notes seven new patents it's received in the third quarter.
- The grants bring Vonage patents to 93 overall, with 249 patents pending in the U.S. and others worldwide.
- Three of the patents deal with mobile solutions, three deal with enhanced call experience, and one key patent involves integrating a business' cloud phone system with third-party applications for CRM and productivity, allowing software to "automatically annotate call history data with the caller's full contact information and call notes."
Sep. 1, 2015, 9:43 AM
- Vonage (VG -1.3%) has closed on its $92M acquisition of iCore Networks, which it says gives it the largest sales force in the Unified Communications-as-a-Service market.
- ICore is a "natural complement to Vonage's rapidly growing UCaaS business and strengthens the Company's national footprint," says Vonage CEO Alan Masarek. "ICore is particularly successful in serving mid-market and enterprise customers, with more than 60% of its revenue derived from customers with 100 or more seats."
- Vonage had previously bumped its revenue guidance for the full year based on the deal, to GAAP revenues of $885M-$892M.
- Previously: Vonage boosts guidance on $92M iCore acquisition (Aug. 20 2015)
Aug. 20, 2015, 9:32 AM
- Vonage (NYSE:VG) is up 1% out of the market's open after updating guidance, on news that it's acquiring privately held iCore Networks, for $92M in cash.
- Vonage says adding iCore will give it the largest sales force in the Unified Communications-as-a-Service market, as iCore supports more than 85,000 customer seats with revenue churn of less than 1%.
- With the acquisition, Vonage now sees full-year GAAP revenue of $885M-$892M, and a resulting pro forma organic revenue growth of about 37%. It's guiding to EBITDA of at least $135M and capex of about $30M.
- Vonage will use balance sheet cash and its revolving credit facility for the deal, to end up with pro forma net debt/LTM EBITDA of about 1.5x. The transaction is expected to close by the end of Q3.
Vonage Holdings Corp. provides communication services connecting people through people through cloud-connected devices worldwide. It provides residential and business communication solutions that offer flexibility, portability and ease-of-use for both landline and mobile phones. The company was... More
Industry: Diversified Communication Services
Country: United States
Other News & PR