How Is Vonage Doing Now?
They actually seem to be doing quite well, as indicated by their second quarter revenues, which were just announced today. Their revenue has grown 43% to a whopping $206 million, which reflects a sharp increase from the $144 mil they reported for the same quarter last year. The increase has been marked by growth in their subscriber base and an increase in average revenue per line. For the second quarter of 2007, Vonage’s net loss narrowed to $34 million, or $0.22 per share, as compared to a net loss of $74 million that they reported in the same quarter in 2006.
Jeffrey Citron, Vonage Chairman, said, “We made significant strides this quarter in reducing costs and narrowing our losses. Despite the continued challenges associated with the Verizon litigation, the Company maintained its focus on achieving adjusted operating profitability. At the same time, we have substantially completed the deployment of workarounds for the two name translation patents and have completed the development of the wireless patent workaround. This is a significant step toward moving ahead with our business in the wake of the Verizon litigation. We look forward to the Court’s ultimate decision and remain confident in the strength of our appeal.”
You can read more details on their financial results reporting in their press release right here.