Management ChangeApr 28, 2026, 04:22 PM
RBBN CFO John Townsend Resigns; Rick Marmurek Appointed; Q1 Revenue $163M
AI Summary
Ribbon Communications Inc. announced that CFO John Townsend is resigning effective April 30, 2026, to pursue another opportunity, with Rick Marmurek promoted to succeed him as CFO and Chief Accounting Officer, effective May 1, 2026. The company also reported Q1 2026 financial results, with revenue of $163 million, a GAAP operating loss of ($32) million, and a non-GAAP adjusted EBITDA of ($8) million. Despite declines from Q1 2025, revenue was in line with expectations, and the company projects Q2 2026 revenue of $185 million to $195 million, expecting sequential and second-half growth.
Key Highlights
- CFO John Townsend resigned, effective April 30, 2026, to pursue another professional opportunity.
- Rick Marmurek promoted to EVP, CFO, and Chief Accounting Officer, effective May 1, 2026.
- Q1 2026 Revenue was $163 million, down from $181 million in Q1 2025.
- Q1 2026 GAAP Operating Loss was ($32) million, compared to ($20) million in Q1 2025.
- Q1 2026 Non-GAAP Adjusted EBITDA was ($8) million, compared to $6 million in Q1 2025.
- Q1 2026 GAAP diluted EPS was ($0.20), compared to ($0.15) in Q1 2025.
- Projects Q2 2026 revenue of $185 million to $195 million.
- Projects Q2 2026 Non-GAAP gross margin of 49% to 50%.