Dec. 9, 2014, 5:36 PM
- Vonage's (NYSE:VG) $100M buyback would be good for repurchasing 15% of shares at current levels, if fully used. The VoIP service provider had $64M in cash at the end of Q3.
- Vonage "plans to exit the Brazilian market for consumer telephony services and commence the wind down of its joint venture operations in the country." It expects to record $1M in related cash charged.
- The company adds its $114M acquisition of hosted unified communications service provider Telesphere is expected to close next week.
Nov. 5, 2014, 9:16 AM
- Gainers: CRTO +19%. JIVE +17%. YOD +16%. TTPH +12%. IBIO +11%. AEZS +9%. EXEL +8%. CLNY +7%. ANR +7%. ROYT +7%. EOG +6%. PHMD +6%. NICE +6%. VPCO +6%. ATVI +5%. VG +5%. CTSH +5%. WLT +5%. MACK +5%.
- Losers: CHUY -24%. NUS -22%. FEYE -16%. ZU -14%. TRIP -13%. SSYS -8%. MEMP -7%. NG -6%. ANV -6%. ARIA -6%. AWAY -6%.
Nov. 5, 2014, 8:10 AM
Oct. 7, 2014, 9:19 AM
- Alan Masarek, a Google exec and formerly the co-founder/CEO of mobile productivity app developer Quickoffice (acquired by Google in 2012), has been named Vonage's (NYSE:VG) new CEO.
- Masarek will take over as CEO on Nov. 5 from Marc Lefar, who announced in April he'd be retiring once a successor was found, and will also be taking Lefar's board seat.
Aug. 27, 2014, 5:35 PM
Jul. 31, 2014, 12:45 PM
Jul. 31, 2014, 11:45 AM
- Along with its Q2 results, Vonage (NYSE:VG) announces it has obtained a new $225M credit facility. $90M of the proceeds will be used to retire debt under an existing facility.
- Vonage lost 6.7K subs in Q2, a reversal from Q1 and year-ago adds of 12.5K and 2.5K, respectively. Its total sub base stood at 2.55M at quarter's end.
- The company now expects 5% 2014 revenue growth, below a 6.9% consensus. If adjusted for the acquisition of business VoIP service provider Vocalocity, guidance would be for revenue to be flat to down 2%.
- 2H net customer adds will be lower than previously expected due to "actions to optimize the profitability of certain sales channels, and timing differences in the rollout of BasicTalk to additional locations and in the expansion of marketing in Brazil." Nonetheless, EBITDA guidance has been hiked to $106M-$112M.
- ARPU fell to $28.59 in Q2 from $28.86 in Q1 and $29.06 a year ago. Churn was 2.6%, even with Q1 but up from 2.4% a year ago. Marketing costs per gross sub add were $342 vs. $299 in Q1 and $375 a year ago. $13M was spent on buybacks.
- Shares had rallied going into earnings, aided by positive reports from peers.
- Q2 results, PR
Jul. 31, 2014, 8:08 AM
Jul. 30, 2014, 3:39 PM
Jul. 24, 2014, 2:47 PM
- Following a healthy FQ1, 8x8 (EGHT +10%) expects FY15 (ends March '15) revenue to grow "at least 25%." The company previously guided for FY15 revenue to grow "approximately 25%." Net income is still expected to account for a high-single digit % of revenue.
- Average monthly service revenue per business customer rose to $293 from $287 in FQ4 and $263 a year ago. Notably, churn fell to just 0.4% from 1.2% in both FQ4 and the year-ago period.
- Service revenue rose 29% Y/Y to $34.3M, product revenue rose 32% to $2.8M. A 94% increase in channel/mid-market sales helped fuel the growth.
- GAAP opex rose 42% to $37.4M. Service margin was 80% vs. 79% in FQ4 and 82% a year ago.
- Fellow VoIP/unified communications service providers RingCentral (RNG +4.2%) and Vonage (VG +2.4%) are also rallying, as is software supplier BroadSoft (BSFT +2.8%).
- 8x8's FQ1 results, PR, CC transcript
May 1, 2014, 8:16 AM
Apr. 7, 2014, 9:23 AM
- Marc Lefar, Vonage's (VG) CEO since 2008, plans to retire once a successor is found. The board will commence a search.
- Lefar, 49, will remain CEO "through an orderly leadership transition, which is expected to conclude by year-end."
- Vonage shares have more than doubled since Lefar became CEO, but remain below their 2011 highs.
Feb. 27, 2014, 9:53 AM
- Northland Securities' checks indicate T-Mobile USA will resell Vonage's (VG +8.4%) business VoIP services under its own brand.
- Vonage has made new 52-week highs in response. Shares gained earlier this month after Vonage posted largely in-line Q4 results, and but also reported 9K net line additions (compares with -6K a year earlier).
Feb. 12, 2014, 8:02 AM
Feb. 12, 2014, 12:05 AM
Feb. 11, 2014, 5:30 PM
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