Monday, October 30, 2006

Vonage Passes 2 Million Subscriptions

Vonage added 204,591 net subscribers in Q3, giving it a total of 2,057,844 lines in service, an increase of 11% sequentially and 94% above the year-ago level.

Third quarter 2006 revenue grew to $161 million, a 12% increase from $143 million in the second quarter 2006 and up 118% from $74 million in the year- ago quarter. The sequential growth was driven primarily by the growth in subscriber lines while year-over-year revenue growth resulted from subscriber line growth and increases in average monthly revenue per line.

Non-GAAP adjusted loss from operations was $53 million in the quarter, down 12% from the prior quarter and down 18% from the year-ago quarter. Net loss for the quarter was $62 million, or $0.40 per share, an improvement of 16% from a net loss of $74 million, or $1.16 per share, in the prior quarter and from $66 million last year.

See also