What Ribbon Communications Inc. told the SEC could break it.

Ribbon depends on a few key customers — its top five contributed about 41% of revenue in 2025 (with Verizon alone ~17%) — so loss of any could materially hurt results.

“One customer, Verizon, contributed approximately 17% of our revenue in the year ended December 31, 2025. Our top five customers contributed approximately 41% of our revenue in 2025.”

Certain components and third-party software licenses in Ribbon's products are single-sourced; a supplier or subcontractor failure could delay product delivery and hurt revenue.

“Certain components and software licenses from third parties used in Ribbon's products are procured from single sources of supply. The failure of a supplier, including a subcontractor, to deliver on schedule could delay or interrupt Ribbon's delivery of products and thereby materially adversely affect Ribbon's revenue and operating results.”

Ribbon has a significant number of employees in Israel, so the ongoing war and political/military conditions there could directly disrupt its operations.

“We have a significant number of employees located in Israel. As a result, political, economic and military conditions in Israel may directly affect our business.”

Ribbon manufactures appliance products and buys raw materials/components from Mexico, Malaysia, Thailand, Israel, China and other countries, exposing it to tariffs, trade restrictions and retaliatory 'trade wars' that could raise costs.

“We manufacture certain of our appliance products and purchase a portion of our raw materials and components from suppliers in Mexico, Malaysia, Thailand, Israel, China and other foreign countries.”