NEW YORK, August 7, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Vonage Holdings Corp. (NYSE: VG). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=VG
Highlights from our VG Report include:
- A Glance at the Q2 2015 Results - On July 30, 2015, Vonage Holdings Corporation announced consolidated results for the second quarter ended June 30, 2015. Revenue for Q2 2015 stood at $222 million compared to $219 million in the year-ago period. Adjusted EBITDA advanced 29% year-over-year to $38 million. Meanwhile, net income grew to $8 million or $0.04 per share, as against $6 million or $0.03 per share in the previous year corresponding period.
- A Quick Look at Segmental Performance - On an organic basis, revenue at Vonage Business segment grew strongly by 38% YoY to $49 million in Q2 2015. Vonage informed that the results for Q2 2015 also include results for SimpleSignal, the acquisition of which was completed on April 1, 2015. Revenue churn rate stood at 1.3% in Q2 2015, down from 1.4% in Q1 2015 and up from 1.2% in Q2 2014.
For Consumer Services, revenue contracted to $173 million in Q2 2015 from $196 million in Q2 2014. The decline reflected the Company's continued focus on adding customers that meet its customer lifetime value objectives. Further, the decision to redeploy capital into Vonage Business, where it generates higher customer lifetime values, also restricted the revenue growth in this segment.
- Update on Patent Portfolio - With the addition of 11 new patents in Q2 2015, Vonage now owns 86 US patents. The Company also has pending applications for over 250 US patents, along with many foreign patents and pending applications in jurisdictions worldwide.
- Acquired gUnify Inc. in Q2 2015 - Vonage completed the acquisition of gUnify Inc. on May 15, 2015. The acquisition of gUnify Inc. enabled the integration of the Company's robust cloud communications platform with today's most widely used Software-as-a-Service (SaaS) business applications, including Google for Work, Zendesk, Salesforce's Sales Cloud and Clio.
To find out how this influences our rating on Vonage Holdings Corp., read the full report in its entirety here: http://www.aciassociation.com/?c=VG
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