Vonage has done a great job this last quarter — posting growth numbers in a slower economy. I just had a podcast interview with Jeffrey Citron where he talked about the company’s growth rate and the number of new initiatives at the pure-play VoIP service provider.
Citron explains that they are pleased with their financial performance as their revenue was $225 million and this is a 15% increase from the previous year. One great bit of news is that expenses increased and adjusted operating income is now $8 million.
These results were ahead of expectations and in addition to the news on earnings, Citron was proud to explain how well-received his new products have been. Visual voicemail and unlimited international calling are some of these new items.
Moreover, the company has a new prosumer product and another called Companion which installs on your computer and works in conjunction with your phone service.
Perhaps most importantly, Vonage is becoming a double-play provider by reselling Covad broadband DSL service.
The company seems to be more enthusiastic than I have seen in some time and more importantly they are becoming product-focused once again.
This coupled with the morale boost of better earnings will likely be the catalyst the company needs to carry this momentum towards higher levels of profitability and growth. After all, having a quarter that beats expectations in a slower economy is something the company should be proud of.
You really have to check out the podcast to learn the details.