Vonage Reports Q3
Vonage added nearly one million net subscriber lines over the past twelve months, including 204,591 in the third quarter. This marks the seventh consecutive quarter of more than 200,000 net subscriber line additions. Vonage finished the quarter with 2,057,844 lines in service, an increase of 11% sequentially and 94% above the year-ago level.
Mike Snyder, Vonage CEO, said, “Our results this quarter provide further evidence of our continued progress toward achieving profitability. For the first time in Vonage’s history, GAAP net loss narrowed year-over-year. In addition, for the second consecutive quarter, we narrowed our net loss by aggressively managing direct costs and achieving scale benefits due to growth in our subscriber base. Direct margin2 percentage improved to a record 64% and adjusted loss from operations1 declined 12% from the prior quarter even as we continued to invest in customer care and marketing to achieve strong growth.”
Vonage Holdings Corp. (NYSE: VG)