HOLMDEL, N.J., March 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage today announced that its Board of Directors has increased the size of the Board from seven to eight members and elected Jeff Misner as a new member. As a Director, Misner will serve on the Audit Committee.

"We're pleased to have Jeff join Vonage's Board and believe that his extensive financial experience will be of great value as we transition to an established, profitable enterprise," said Jeffrey Citron, Chairman, Chief Strategist and Interim CEO of Vonage.

Misner currently serves as Chief Financial Officer and Executive Vice President of Continental Airlines Inc. In this role, he is responsible for the airline's overall financial operations, including internal audit, funds, corporate finance, risk management, financial planning, tax, accounting and investor relations. Prior to Continental, Misner was a tax and business consultant, having served as a tax partner with Ernst and Young in Orange County, Calif., and with Kenneth Leventhal and Company in Newport Beach, Calif.

Misner received his bachelor's degree in accounting from San Diego State University, and currently lives in Houston with his wife and three children.

HOLMDEL, N.J., Feb 18, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage today announced that Russell Dauer has been appointed Senior Vice President of Product Development, the organization that drives strategy for delivering innovative, consumer-responsive technology to the marketplace.

"Russ brings an impressive breadth of product development and engineering experience in the communications sector to the table," said Jeffrey Citron, Chairman, Chief Strategist, and Interim CEO of Vonage. "We believe that he can hit the ground running when it comes to capitalizing on the positive reaction we've seen thus far to the expanding stable of Vonage-branded devices."

Dauer most recently held the title of Vice President, Engineering of the Emerging Technologies Division at Avaya, a global leader focused on communication systems, applications, and services. In this position, he led the newly formed Emerging Technologies R&D Division in the development of strategic technologies and products.

- Fourth Quarter Revenue Grows 19% to $216 Million -
- Company Generates Adjusted Operating Income Excluding Charges(1) of $6 Million -
- 4Q07 Net Loss Excluding Charges(2) Narrows to $9 Million from $65 Million Year-over-Year -

HOLMDEL, N.J., Feb 13, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage Holdings Corp. (NYSE: VG), a leading provider of broadband telephone service, today announced results for the quarter and year ended December 31, 2007.

Revenue for the fourth quarter 2007 grew to a record $216 million, up 19% from $181 million in the fourth quarter 2006, driven by an increase in subscriber lines.

For the fourth quarter of 2007, the Company reported a GAAP net loss of $11 million or $0.07 per share. Excluding certain charges(2), net loss narrowed to $9 million, or $0.06 per share, down from $65 million reported in the fourth quarter 2006. Adjusted operating income excluding certain charges(1) was $6 million in the quarter, a significant improvement from a loss of $53 million in the year-ago quarter.

Jeffrey Citron, Vonage Chairman, said, "Although 2007 was a difficult period marked by numerous legal challenges, Vonage maintained its focus on improving the business. We improved our marketing efficiency, reduced our cost structure and for the first time in our history, generated positive adjusted operating income in the fourth quarter. Looking to 2008, we are confident in our ability to grow the business profitably and provide customers innovative, feature-rich and cost-effective communications services."

Fourth Quarter 2007 Financial and Operating Highlights

Fourth quarter 2007 revenue grew to $216 million, an increase of 19% from $181 million in the year-ago quarter. The year-over-year increase was driven by growth in subscriber lines.

Average monthly revenue per line in the fourth quarter 2007 was $28.19, down from $28.25 in the year-ago quarter and $28.24 reported in the third quarter 2007. Average monthly telephony services revenue per line for the quarter increased to $27.42, in line with $27.41 reported a year ago and up from $27.32 sequentially.

In the fourth quarter 2007, direct cost of telephony services was $54 million, up from $52 million a year ago and in line with the third quarter 2007. On a per line basis, average direct cost of telephony services fell to $7.11, down from $8.13 in the year ago quarter and $7.30 sequentially as the Company continued to benefit from call routing efficiency and scale.

Direct cost of goods sold for the quarter was $17 million, up from $12 million in the year-ago quarter and in line with the prior quarter. Direct margin(3) increased to 67% of revenues from 65% in the year-ago quarter.

Selling, general and administrative ("SG&A") expense excluding certain charges(4) was $77 million, down from $82 million in the year-ago quarter, and $81 million sequentially.

Pre-marketing operating income excluding certain charges(1) was $81 million, up from $49 million in the year-ago quarter and $71 million sequentially.

Marketing expense for the quarter was $63 million, or 29% of revenue, down sharply from $96 million, or 53% of revenue a year ago. Marketing expense was up slightly from the third quarter 2007. Marketing cost per gross subscriber line addition ("SLAC") was $223 in the fourth quarter 2007. As expected, SLAC increased slightly from $206 in the third quarter due to seasonal costs of advertising. The Company expects the cost of acquisition will be within $225- $250 for 2008.

Vonage added 56,000 net subscriber lines during the quarter to end the year at nearly 2.6 million lines.

Excluding certain charges, adjusted income from operations(1) was $6 million in the fourth quarter 2007, up from a loss of $53 million in the year ago quarter and a loss of $1 million sequentially. The Company generated $3 million in adjusted operating income in the fourth quarter 2007. John Rego, Vonage CFO said, "This is a significant accomplishment for the Company and reflects our ability to grow while effectively managing costs. We reached this milestone ahead of plan, and did so in a turbulent year."

Average monthly customer churn remained flat sequentially at 3.0% in the fourth quarter 2007.

Current cash and marketable securities and restricted cash on December 31, 2007 was $190 million. This includes $39 million in restricted cash used as collateral for routine business operations. The change in cash from the prior quarter was driven by settlement payments of $202 million, capital expenditures of $9 million, cash provided from operations(5) of $15 million and an $8 million increase in restricted cash. This is the second consecutive quarter of positive cash generation from operations.

Year-End 2007 Results

Revenue for 2007 increased to $828 million, up 36% from $607 million in 2006. Adjusted loss from operations excluding certain charges(1) narrowed to $46 million from $238 million in 2006. Net loss excluding certain charges(2) in 2007 narrowed to $90 million from $286 million the prior year. GAAP net loss was $265 million or $1.70 per share in 2007.

Vonage added 356,000 net subscriber lines in 2007 and finished the year with nearly 2.6 million lines in service, 16% above the year-ago level of 2.2 million lines.

Convertible Debt Refinancing Update

Vonage has $253 million in convertible debt, which can be put to the Company in December 2008. The Company with its financial advisors is currently in discussions with several parties regarding a refinancing of the debt. While the result of such discussions cannot be predicted with certainty, Vonage believes that it will be able to resolve its financial issues and meet its obligations. There can be no assurance, however, that Vonage will be able to resolve these issues in the near term. Assuming the Company has no resolution by the time it files its annual report on Form 10-K, the Company expects that its auditors' report on its 2007 financial statements will include an explanatory paragraph regarding the Company's ability to continue as a going concern.

HOLMDEL, N.J., Feb 04, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage today announced that Mike Sears has been appointed Senior Vice President of Global Service Delivery Operations, the customer-facing organization that is responsible for all customer contacts. In addition, the company announced that Executive Vice President and Chief Legal Officer Sharon O'Leary will be departing the company at the end of the first quarter.

Commenting on Sears' appointment, Vonage Chairman, Chief Strategist, and Interim CEO Jeffrey Citron said, "Mike has an impressive skill set that will enhance Vonage's ability to keep improving our customer service. We believe that Sears' 18-plus years of leadership experience in customer service and operations will build upon the foundation Vonage currently has in place."

HOLMDEL, N.J., Feb 04, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage Holdings Corp. (NYSE: VG), a leading provider of broadband telephone services, will report its financial results for the fourth quarter and full year ended December 31, 2007 on Wednesday, February 13, 2008. The earnings release will be available on Vonage's Investor Relations website at http://ir.vonage.com.

Management will host a webcast discussion of the quarter's and full year's results on Wednesday, February 13, 2008 at 10:00 AM Eastern Time. To participate, please dial (877) 548-7903 approximately ten minutes prior to the call. International callers should dial (719) 325-4896. A replay will be available approximately two hours after the conclusion of the call until midnight February 27, 2008, and may be accessed by dialing (888) 203-1112. International callers should dial (719) 457-0820. Replay Passcode: 1142438.

The webcast will be broadcast live through Vonage's Investor Relations website at http://ir.vonage.com. Windows Media Player or RealPlayer is required to listen to this webcast. A replay will be available shortly after the live webcast.

HOLMDEL, N.J., Jan 07, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage Holdings Corp. (NYSE: VG) today announced that its Chairman and Chief Strategist, Jeffrey A. Citron, will speak at the Citi 18th Annual Global Entertainment, Media & Telecommunications Conference on Wednesday, January 9, 2008 at 2:00 PM MT (4:00 PM ET). The event will be held at the Arizona Biltmore Resort & Spa in Phoenix, Arizona.

The presentation will be webcast live through Vonage's Investor Relations website at http://ir.vonage.com. Windows Media Player or RealPlayer is required to listen to this webcast. A replay will be available shortly after the live webcast.

Product Strategy for 2008 Begins with the Introduction of Digital Voice Adaptor with LCD Display

HOLMDEL, N.J., Jan 07, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage, a leading provider of digital phone services, today announced its "MyVonage" product strategy, which is focused on introducing products, services and features that fit into a customer's given lifestyle and support the way they want to communicate. As part of the overall strategy, Vonage today unveiled the V-Portal(TM), a digital voice adapter and single port router with a built-in liquid crystal display (LCD), and Contact Book, an innovative one-stop communication hub with useful features such as group calling and voice activated dialing, giving customers more control over how they can communicate.

"At Vonage, we believe technology, not Telco's, will drive the future of communications," said Jeffrey Citron, Chairman, Chief Strategist, and Interim CEO. "Vonage is more than a new technology for landline replacement. We are dedicated to delivering new solutions that empower the consumer and we envision a day when people can communicate without boundaries; when, where and how they want."

HOLMDEL, N.J., Dec 21, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage and AT&T have entered into a definitive agreement to settle their patent dispute, the companies announced today. The companies had agreed in principle to a settlement on November 7.

- Third Quarter Revenues Grow 30% to $211 Million - - Adjusted Loss from Operations Excluding Charges(1) Narrows to $1 Million - - Net Loss Excluding Charges(2) Narrows to $16 Million from $62 Million Year-over-Year - - Company Generates Positive Cash from Operations in the Third Quarter 2007 -

HOLMDEL, N.J., Nov 08, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage Holdings Corp. (NYSE: VG), a leading provider of broadband telephone service, today announced results for the quarter ended September 30, 2007.

Revenue for the third quarter 2007 grew to a record $211 million, a 30% increase from $162 million in the third quarter 2006, driven by customer line growth and an increase in average revenue per line.

Adjusted loss from operations excluding certain charges(1) narrowed to $1 million, a 98% improvement from $53 million in the third quarter 2006 and an improvement from $3 million sequentially. The Company expects to generate positive adjusted operating income for 2008.

Net loss excluding certain charges(2) narrowed to $16 million, or $0.10 per share, from $62 million or $0.40 per share reported in the third quarter 2006. Including these charges, third quarter 2007 GAAP net loss was $162 million.

Settlement Cost Capped at Additional $32 Million

HOLMDEL, N.J., Oct 25, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage today announced that the cost of its settlement of a patent dispute with Verizon will be effectively capped at a maximum of $32 million, in addition to the $88 million already accrued and held in escrow. The $88 million includes a $66 million cash-collateralized bond, a $12 million second-quarter escrow payment, and a $10 million third-quarter escrow payment made in the fourth quarter of 2007.

Vonage and Verizon earlier today announced they have agreed to resolve their patent lawsuit. The terms of the resolution depend on how the Court of Appeals decides Vonage's pending petition for rehearing regarding two of the Verizon patents (the '574 and '711). If Vonage wins rehearing on either the '574 or '711 patent or if the injunction is vacated as to the '574 or '711 patent, Vonage will pay Verizon $80 million. If Vonage does not win rehearing on either the '574 or '711 patent, or if the stay is lifted reinstating the injunction, Vonage will pay $120 million, which includes $2.5 million payable to certain charities.