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Vonage Holdings Corp. (VG)

- NYSE
  • Mon, Aug. 10, 10:56 AM
    • Vonage (NYSE:VG) is up 4.3% as Canaccord Genuity launches Coverage at Buy.
    • The firm has a price target of $7.50. Shares closed Friday at $6.24, and are currently trading at $6.51, implying 15% upside.
    • Analyst consensus rates the stock as a Buy. It's up more than 26% since a solid beat on Q2 earnings July 30.
    | Mon, Aug. 10, 10:56 AM | Comment!
  • Thu, Jul. 30, 10:01 AM
    • Vonage Holdings (NYSE:VG) is up 8.9% after beating expectations with its Q2 profits and revenues, and continuing progress in redeploying capital into higher-value business services.
    • EBITDA of $38M (up 29%) was highest in four years and beat an expected $33.6M.
    • Revenue by segment: Vonage Business, $49M (up 38% as if Vonage had owned Telesphere and Simple Signal); Consumer Services, $173M (down 11.7%).
    • Average monthly revenues per line were $27.79, down slightly from a year-ago $28.02 and from Q1's $27.97. Consumer customer churn was 2.2%, (down from a year-ago 2.6%, and best churn since Q1 2006). Revenue churn -- which Vonage is now using instead of account churn to measure business results -- was 1.3% vs. Q1's 1.4% and a year-ago 1.2%.
    • Business Services ended the quarter with 403K seats, up from a year-ago 217K. Consumer net line losses were 45K, part of a continuing strategy to lower churn and decrease unprofitable customers.
    • Press Release
    | Thu, Jul. 30, 10:01 AM | 2 Comments
  • Thu, Jul. 16, 11:30 AM
    • Vonage (VG +1.1%) has appointed Omar Javaid its chief product officer, to join the company Aug. 3.
    • Javaid is coming from Rovi, where he was GM of Discovery and Cloud Platforms, and will oversee the product roadmap for both consumer services and Vonage Business.
    • Previously, Javaid had worked as a VP for Hewlett-Packard as well as holding positions at Motorola Mobility and Qualcomm.
    | Thu, Jul. 16, 11:30 AM | Comment!
  • Nov. 5, 2014, 9:16 AM
    | Nov. 5, 2014, 9:16 AM | Comment!
  • Aug. 27, 2014, 5:35 PM
    • Top gainers, as of 5:15 p.m.: VNET +3.9%. ZLTQ +3.3%. SIFY +2.9%. HIL +2.6%. SFUN +2.3%.
    • Top losers, as of 5:15 p.m.: GOMO -21.2%. WSM -10.3%. TLYS -9.6%. GES -7.4%. VG -4.3%.
    | Aug. 27, 2014, 5:35 PM | 1 Comment
  • Jul. 31, 2014, 12:45 PM
    | Jul. 31, 2014, 12:45 PM | Comment!
  • 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, 11:45 AM | Comment!
  • Jul. 30, 2014, 3:39 PM
    • Add Vonage (VG +9.2%) to the list of VoIP-related companies posting big gains after RingCentral beat Q2 estimates and hiked full-year revenue guidance.
    • 8x8 and BroadSoft are also higher. Vonage reports tomorrow morning.
    | Jul. 30, 2014, 3:39 PM | Comment!
  • 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
    | Jul. 24, 2014, 2:47 PM | Comment!
  • 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. 27, 2014, 9:53 AM | 1 Comment
  • Jan. 22, 2014, 12:10 PM
    • Craig-Hallum has started coverage on Vonage (VG +14.1%) with a Buy and $7 PT.
    • Shares of the VoIP service provider have jumped to new 52-week highs in response.
    | Jan. 22, 2014, 12:10 PM | 1 Comment
  • Nov. 6, 2013, 11:44 AM
    • Vonage (VG -8%) shares slip after the company missed revenue expectations in Q3.
    • Net lines grew by 11K, up from 3K in Q2 and 9K in Q3 2012.
    • Gross line additions totaled 175K, up from 155K in Q2 and 172K in Q3 2012, on the back of "stable volume" in the international calling segment and the first quarter of national sales of Vonage's low-cost domestic calling product BasicTalk. Churn was up 20bp to 2.6% during the quarter.
    • EBITDA plunged 32% Y/Y and 15% Q/Q to $23M.
    • Management expects Q4 EBITDA, excl. the impact of Vocalocity, to be "modestly higher" than in Q3. Net line additions are expected to be positive in Q4 due to gross additions from BasicTalk and stable churn.
    | Nov. 6, 2013, 11:44 AM | Comment!
  • Oct. 10, 2013, 12:45 PM
    | Oct. 10, 2013, 12:45 PM | Comment!
  • Oct. 10, 2013, 10:11 AM
    • Vonage (VG +18.4%) is acquiring Vocalocity, a provider of fairly inexpensive cloud-based VoIP services and value-added features for SMBs, for $130M ($105M in cash + $25M in stock). Investors are quite pleased with the news. (PR)
    • Vocalocity had 1H revenue of $28M (+39% Y/Y), and was free cash flow positive during the period. The company focuses on companies with less than 20 employees, and had 21K customers at the end of Q2.
    • The market for hosted/cloud-based business telecom services market has been growing quickly (hence the enthusiasm for RingCentral's recent IPO), and generally features higher margins than the consumer VoIP market Vonage remains dependent on.
    • The deal is expected to close in Q4, and Vonage eventually expects annual synergies in "the high single-digit million dollar range." Vonage is paying for the cash portion of the deal using $30M in existing cash and $75M drawn from a credit facility.
    | Oct. 10, 2013, 10:11 AM | Comment!
  • Oct. 10, 2013, 9:16 AM
    | Oct. 10, 2013, 9:16 AM | Comment!
  • May 10, 2013, 5:47 PM
    After-hours top gainers, as of 5:30 p.m.: ENDP +3.6%. NVAX +2.8%. GRFS +2.7%. REE +2.6%. IMRS +2.4%.
    AftTer-hours top losers: ET -4.0%. APTS -3.7%. SYNC -3.6%. SSRI -2.7%. VG -2.5%.
    | May 10, 2013, 5:47 PM | Comment!
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Company Description
Vonage Holdings Corp is a provider of communications services through Voice over Internet Protocol devices.