Vonage Reports Q1

Vonage Holdings announced results for the quarter ended March 31, 2007

May 10, 2007

1 Min Read

HOLMDEL, N.J. -- Vonage Holdings Corp.(NYSE: VG), a leading provider of broadband telephone service, todayannounced results for the quarter ended March 31, 2007.

Revenue for the first quarter 2007 grew to a record $196 million, a 64%increase from $120 million in the first quarter 2006, driven by strongcustomer line growth over the course of the year and higher average revenueper line.

Adjusted loss from operations(1) narrowed to $58 million in thequarter, a 20% improvement from $73 million in the year-ago quarter.Adjusted loss from operations excluding royalty(1) narrowed to $48 millionin the first quarter 2007, a 34% improvement from $73 million in the firstquarter 2006 and a 10% improvement from $53 million last quarter.

For the first quarter of 2007, the Company's net loss narrowed to $72million, or $0.47 per share, from a net loss of $85 million reported in thefirst quarter 2006. Net loss excluding royalty and associated interest(2)improved to $61 million, or $0.39 per share, from $65 million in the fourthquarter 2006.

Vonage added approximately 166,000 net subscriber lines during thequarter and finished with nearly 2.4 million lines in service.

Jeffrey Citron, Vonage Chairman, said, "We have battled through anextremely difficult quarter and will continue the fight in the courtroom.While the patent litigation has challenged our business, it has notdistracted our focus on providing consumers with the opportunity to choosea better phone service.

"We believe we have workable designs for the two name translationpatents and intend to begin deploying the solution to our customersshortly. In addition, we are continuing our development of the workaroundfor the wireless patent."

Vonage Holdings Corp. (NYSE: VG)

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