05/09/2012

Vonage

 

Vonage is the main operator of Voip telephonic lines in the United States with more than 2 million VOIP subscribers in September/06.

 

Vonage opened its capital in May/06 through IPO and had as main goal to raise US$ 500 million, however, it's not having succes. Vonage has been having some problems with Verizon in the dispute of patents.

 

 

www.vonage.com

 

 

Operational Performance

 

 

Quarter Results

 

-	1Q11	2Q11	3Q11	4Q11	1Q12	∆Qter	∆Year
Subscribers (Thousands)	2.408	2.398	2.389	2.375	2,356	(0.8%)	(2.2%)
Net Adds	3.4	(10.6)	(8.9)	(13.8)	(18.7)	(35.5%)	(660.2%)
Monthly Churn	2.5%	2.5%	2.7%	2.7%	2.8%	-	-
ARPU (US$)	30.23	30.14	30.06	30.12	30.35	0.8%	0.4%
Acquisition Cost*	282	330	300	306	323	5.6%	14.5%
Employees	1.126	1.059	1.035	1.008	1,004	(0.4%)	(10.8%)

* per subscribers addition

 

 

Economic Performance

 

Million Dollars	1Q11	2Q11	3Q11	4Q11	1Q12	∆Qter	∆Year
Net Revenue	220	218	217	216	216	0.1%	(1.8%)
EBITDA	43	44	40	40	32	(21.2%)	(26.8%)
EBITDA margin	19.8%	20.0%	18.6%	18.7%	14.7%	-	-
Net (loss) profit	23	25	24	25	19	(26.5%)	(19.2%)
Debt	-	-	-	-	26	(13.4%)	(79.4%)

 

 

Operational Costs and Expenditures

 

Million Dollars	1Q11	2Q11	3Q11	4Q11	1Q12	∆Qter	∆Year
Operational Expenditures	190	187	189	188	195	4.0%	2.8%
Services Cost	60	58	59	59	62	4.7%	2.4%
General and Management Expenditures	58	58	59	59	62	5.6%	6.2%
Marketing Expenditures	49	52	51	52	53	3.5%	8.1%
Cost of Sold Products	11	10	11	10	10	(2.8%)	(10.9%)
Depreciation and Amortization	11	9	9	9	9	0.1%	(21.9%)

 

 

Annual Results

 

Operational Performance

 

-	2008	2009	2010	2011	∆Year
Subscribers (Thousands)	2.607	2.435	2.405	2,375	(1.2%)
Net Adds	26.9	(172.3)	(30.0)	(30.0)	(0.1%)
Monthly Churn	3.1%	3.1%	2.4%	2.6%	-
ARPU (US$)	27.82	28.68	30.06	30.22	0.5%
Acquisition Cost *	266	305	310	314	1.3%
Employees	1,491	1,225	1,140	1,008	(11.6%)

* by subscribers gross addition

 

 

Economic Performance

 

Million Dollars	2008	2009	2010	2011	∆Year
Net Revenue	900	889	885	870	(1.7%)
EBITDA	54	119	156	168	7.2%
EBITDA Margin	6.0%	13.4%	17.7%	19.3%	-
Net (Loss) Profit	(65)	(43)	(84)	409	588.9%
Debt	194	211	141	30	(78.9%)

 

 

Millions Dollars	2008	2009	2010	2011	∆Year
Operational Expenses	907	832	790	754	(4.6%)
Services Costs	226	214	244	236	(3.1%)
General and Management Expenses	299	265	239	235	(1.8%)
Marketing Expenses	253	228	198	204	3.1%
Costs of Sol Products	79	71	56	42	(25.4%)
Depreciation and Amortization	49	53	53	37	(30.2%)

 

 

 

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