Vonage reports record revenues
Vonage Holdings Corp. posted record Q2 revenues of $143 million, up 141 percent from the year-ago quarter.
The VoIP provider also managed to narrow its year-over-year net loss 14 percent, to $74 million.
In the quarter, Vonage signed up 256,000 net subscriber lines, marking its second-highest total in company history, giving it a total of 1.85 million total subscriber lines.
Vonage CEO Mike Snyder said the company expects that its adjusted loss from operations will continue to decline over the next six quarters, with the belief that Vonage will begin to generate adjusted operating profits as early as Q1 2008.
For the quarter, Vonage reported a monthly churn rate of 2.3 percent, up from 2.1 percent in the previous period.