Vonage has announced its financial results for the quarter ended March 31, 2020.
1Q20 business segment highlights include:
- Service revenues from enterprise applications customers (those with greater than $120,000 of ARR) grew 21 percent in the first quarter of 2020.
- Service revenues from mid-market plus enterprise applications customers (those with greater than $12,000 of ARR) grew 14 percent in the first quarter of 2020.
- Bookings from mid-market plus enterprise applications customers represented 64 percent of total bookings in the first quarter of 2020 versus 62 percent in the previous quarter.
- High-value API revenue grew at nearly 70 percent in the first quarter of 2020, driven by strength in programmable video.
- Business service revenue per customer was $475 per month, up 16 percent from the year-ago quarter.
- Business service revenue churn was 0.8 percent, down from 1.2 percent in the year-ago quarter.
