Vonage Reports Q3

Revenue for Q3 2007 grew to a record $211M

November 8, 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 September 30, 2007.

Revenue for the third quarter 2007 grew to a record $211 million, a 30%increase from $162 million in the third quarter 2006, driven by customerline growth and an increase in average revenue per line.

Adjusted loss from operations excluding certain charges(1) narrowed to$1 million, a 98% improvement from $53 million in the third quarter 2006and an improvement from $3 million sequentially. The Company expects togenerate positive adjusted operating income for 2008. Net loss excluding certain charges(2) narrowed to $16 million, or $0.10per share, from $62 million or $0.40 per share reported in the thirdquarter 2006. Including these charges, third quarter 2007 GAAP net loss was$162 million.

Jeffrey Citron, Vonage Chairman, said, "We are executing against ourstrategy to fix the fundamentals of our business. We are acquiringcustomers more effectively and running the business at an improved coststructure. While this has resulted in positive changes in our business, wehave much more to do. Our primary focus today is to improve the customerexperience to reduce churn. While this will take time, we believe theCompany has the appropriate plan in place to improve customer satisfactionand build loyalty."

Vonage Holdings Corp. (NYSE: VG)

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