• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    RingCentral Announces Third Quarter 2024 Results

    11/7/24 4:05:00 PM ET
    $RNG
    EDP Services
    Technology
    Get the next $RNG alert in real time by email

    Q3 2024 revenue above high end of guidance

    Achieves GAAP operating profitability in Q3 2024

    Raising 2024 revenue, net cash provided by operating activities and free cash flow outlook

    RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced financial results for the third quarter ended September 30, 2024.

    Third Quarter Financial Highlights

    • Total revenue increased 9% year-over-year to $609 million.
    • Subscriptions revenue increased 10% year-over-year to $583 million.
    • Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.48 billion.
    • Enterprise ARR increased 11% year-over-year to $1.07 billion.
    • GAAP operating margin of 0.5%, compared to (9.7%) in the prior year.
    • Stock-based compensation as percent of total revenue of 14.0%, down 630 basis points year-over-year
    • Non-GAAP operating margin of 21.0%, up 190 basis points year-over-year.
    • Net cash provided by operating activities of $127 million, up 47% year-over-year
    • Free cash flow of $105 million, up 51% year-over-year.

    "Our strong results were driven by continued momentum with new products, in particular RingCX, and strength in our core UCaaS market," said Vlad Shmunis, RingCentral's Founder, Chairman, and CEO. "Our healthy top line growth and significant margin expansion, resulted in robust free cash flow generation. This, combined with a material reduction in stock based compensation, resulted in positive GAAP operating income for the first time in our history."

    • Revenue: Total revenue was $609 million for the third quarter of 2024, up from $558 million in the third quarter of 2023, representing 9% year-over-year growth. Adjusted for constant currency, total revenue rose 9%. Subscriptions revenue of $583 million increased 10% year-over-year and accounted for 96% of total revenue. Adjusted for constant currency, subscriptions revenue rose 10%.
    • Operating Income (Loss): GAAP operating income was $3 million, compared to a loss of ($54) million in the same period last year. Non-GAAP operating income was $128 million, or 21.0% of total revenue, compared to $107 million, or 19.1% of total revenue, in the same period last year.
    • Adjusted EBITDA: Adjusted EBITDA was $149 million, or 24.5% of total revenue, compared to $128 million, or 22.9% of total revenue, in the same period last year.
    • Net Income (Loss) Per Share: GAAP net loss per share was ($0.09), compared to ($0.45) in the same period last year. Diluted non-GAAP net income per share was $0.95, compared to $0.78 per share in the same period last year. The third quarters of 2024 and 2023 reflected an approximately 22.5% non-GAAP tax rate.
    • Cash Flow: Net cash provided by operating activities for the third quarter of 2024 was $127 million, or 20.9% of total revenue, compared to $87 million, or 15.5% of total revenue, for the third quarter of 2023. Free cash flow for the third quarter of 2024 was $105 million, or 17.3% of total revenue. This includes cash paid for interest of $22 million, restructuring and other payments of $5 million and cash received from certain strategic partners of $5 million. For comparison, free cash flow for the third quarter of 2023 was $70 million, which included cash paid for interest of $7 million, and restructuring and other payments of $10 million.
    • Cash and Cash Equivalents: Total cash and cash equivalents at the end of the third quarter of 2024 was $213 million. Our cash balance reflects the repurchase of $83 million in shares during the third quarter of 2024 under the plans previously authorized by our Board. We currently have approximately $243 million remaining on our total authorization.

    Financial Outlook

    Full Year 2024 Guidance:

    • Raising subscriptions revenue range to $2.295 to $2.297 billion, representing annual growth of 9%.
    • Raising total revenue range to $2.397 to $2.399 billion, representing annual growth of 9%.
    • Raising GAAP operating margin range to (0.7%) to (0.5%) from (1.3%) to (0.8%).
    • Maintaining non-GAAP operating margin of 21.0%.
    • Maintaining non-GAAP tax rate assumption of 22.5%. No material cash taxes expected given net operating loss carryforwards.
    • Raising non-GAAP EPS to $3.69 based on 94.5 million fully diluted shares. This compares to $3.62 to $3.67 based on 96.0 to 95.0 million fully diluted shares previously.
    • Lowering share-based compensation range to $350 to $355 million from $370 to $380 million.
    • Updating amortization of acquired intangibles to $138 million from $140 million.
    • Updating restructuring costs to $16 million from $6 to $7 million.
    • Raising free cash flow to $400 to $405 million, up from $395 to $400 million. This guidance includes capitalized expenditures of $85 million, cash paid for interest of $60 million and restructuring and other payments of $27 million, as well as $25 million of cash received from certain strategic partners.

    Fourth Quarter 2024 Guidance:

    • Subscriptions revenue range of $587.0 to $589.0 million, representing year-over-year growth of 7% to 8%.
    • Total revenue range of $611.0 to $613.0 million, representing year-over-year growth of 7%.
    • GAAP operating margin range of (0.1%) to 0.8%.
    • Non-GAAP operating margin of 21.2%.
    • Non-GAAP tax rate assumption of 22.5%. No material cash taxes expected given net operating loss carryforwards.
    • Non-GAAP EPS of $0.96 to $0.97 based on 93.0 to 92.5 million fully diluted shares.
    • Share-based compensation range of $85 to $90 million.
    • Amortization of acquired intangibles of $35 million.
    • Restructuring costs of $5 million.

    CFO Announcement

    RingCentral today announced that Abhey Lamba has been appointed as the company's Chief Financial Officer. Lamba will be responsible for all the company's financial functions including financial planning, controllership, tax, treasury, corporate development and investor relations.

    Please see our separate press release regarding this important announcement.

    Additional Highlights

    • Announced new innovations for RingCX, our AI-powered contact center solution. These include a native, real-time AI-powered assistant for both agents and supervisors, advanced AI-based coaching insights for managers and supervisors, and a new bring-your-own IVA framework for customers and partners to quickly integrate their Intelligent Virtual Agent of choice with RingCX.
    • Announced a strategic partnership with Verint to provide RingCX customers access to best-in-class workforce engagement management (WEM) and CX Automation. Through this partnership, RingCX customers will have more choice and be able to leverage Verint's leading WEM and CX automation solutions, which complement RingCentral's native AI capabilities, to enhance employee productivity and improve customer experiences, ultimately driving competitive advantage and operational efficiency.
    • Announced new innovations for RingEX, our flagship cloud communications platform. This includes RingCentral AI Assistant, which automatically generates detailed, real-time notes for phone calls; helps write, polish, and translate texts and chats; and summarizes meetings with crisp action items, reducing employees' daily mundane work to free up their time for more critical, strategic work. AI Assistant is now included in RingEX at no additional cost.
    • Announced the receipt of the PAN-India license from the Department of Telecommunications (DoT) to operate across all 22 telecommunications circles in India. As the first cloud provider to deliver fully-compliant UCaaS and CCaaS solutions across all of India, Global RingEX Select India connects teams across the globe with offices in India, ensuring secure and reliable connectivity and the ability to navigate the regulatory landscape so customers can focus on their core business operations.
    • Renewed our agreement with AT&T, the nation's premier fiber, fixed wireless and wireless provider. This powerful combination will continue to make leading access and AI communications platforms available to businesses of all sizes.
    • Announced a new joint offering with Zayo, Zayo UC+ with RingCentral. The offering combines Zayo's robust network infrastructure, integration planning, and engineering expertise with RingCentral's native, AI-powered, and secure RingEX and RingCX solutions.
    • Announced that Gartner has recognized RingCentral as a Leader in the 2024 Magic Quadrant for Unified Communications as a Service (UCaaS) report for the tenth year in a row. The 2024 Gartner Critical Capabilities for UCaaS report, which accompanies the Magic Quadrant report, also revealed that RingCentral is ranked #1 in three out of the six product or service use case categories, including: #1 for Telephony-Centric/Heavy Organizations; #1 for UC with Integrated Contact Center; and #1 for Midsize Enterprises.

    For a reconciliation of our forecasted non-GAAP operating margin and free cash flow, see "Reconciliation of Forecasted Operating Margin GAAP Measures to Non-GAAP Measures." We have not reconciled our forecasted non-GAAP EPS to its respective forecasted GAAP measure because we do not provide guidance on it. We do not provide guidance on forecasted GAAP EPS because of the inherent uncertainty and complexity involved in forecasting the intercompany remeasurement gain (loss), gain (loss) associated with investments, gain (loss) on early debt conversions, and provision (benefit) from income taxes, which could be significant reconciling items between the non-GAAP and respective GAAP measures. The intercompany remeasurement gain (loss) is affected by the movement in various exchange rates relative to the U.S. Dollar, which is difficult to predict and subject to constant change. We do not provide guidance on gain (loss) associated with investments as it is based on future share prices, which are difficult to predict and subject to inherent uncertainties. We do not provide guidance on gain (loss) on debt early conversions as it is based on future conversion requests, future share prices, and interest rates, which are difficult to predict and are subject to inherent uncertainties. We do not provide guidance on forecasted GAAP tax rates as we do not forecast discrete tax items as they are difficult to predict. The provision (benefit) from income taxes, excluding discrete items, is expected to have an immaterial impact to our GAAP EPS. We utilized a projected long-term tax rate in our computation of the non-GAAP income tax provision. For fiscal 2024, we have determined the projected non-GAAP tax rate to be 22.5%. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort.

    Conference Call Details:

    • What: RingCentral financial results for the third quarter of 2024 and outlook for the fourth quarter and full year of 2024.
    • When: Thursday, November 7, 2024 at 2:00PM PT (5:00PM ET).
    • Dial-in: 1-888-349-0093 from the United States; 1-412-317-5201 internationally
    • Webcast: RingCentral Q3 2024 Earnings Webcast (live and replay).
    • Replay: Following the completion of the call through 11:59 PM ET on November 14, 2024, a telephone replay will be available by dialing 1-844-512-2921 from the United States or 1-412-317-6671 internationally with recording access code 10193681.

    Investor Presentation Details

    An investor presentation providing additional information and analysis can be found at https://ir.ringcentral.com.

    About RingCentral

    RingCentral is a leading provider of AI-powered cloud business communications, contact center, video and hybrid event solutions. RingCentral empowers businesses with conversation intelligence, and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of millions of customers and thousands of partners worldwide. Visit ringcentral.com to learn more.

    © 2024 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Contact Center and the RingCentral logo are trademarks of RingCentral, Inc.

    Forward-Looking Statements

    This press release contains "forward-looking statements," including but not limited to, statements regarding our future financial results, our GAAP and non-GAAP guidance, the results of the pace of our innovation and our partner networks, our expectations regarding our profitability and our non-GAAP free cash flow, our expectations around the contribution of our new products, our estimates and expectations regarding third parties, and our ability to execute and lead in the UCaaS digital transformation market, our expectations around the demand for our products and the growth of the markets in which we compete. Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are: our ability to realize the anticipated benefits of our strategic relationships; our expectations regarding our strategic acquisitions, including acquisition of select assets from Hopin and Mitel; our ability to grow at our expected rate of growth; our ability to add and retain larger and enterprise customers and enter new geographies and markets; our ability to continue to release, and gain customer acceptance of, new and improved versions of our services, including RingEX (formerly RingCentral MVP™), and RingCentral Video®; our ability to compete successfully against existing and new competitors; our ability to enter into and maintain relationships with resellers, carriers, channel partners and strategic partners; our ability to successfully and timely integrate, and realize the benefits of any significant acquisition we may make; our ability to manage our expenses and growth; and general market, political, economic, and business conditions, as well as those risks and uncertainties included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time.

    All forward-looking statements in this press release are based on information available to RingCentral as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current financial quarter.

    Non-GAAP Financial Measures

    Our reported financial results and financial outlook include certain Non-GAAP financial measures, including Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP income (loss) from operations, Non-GAAP adjusted EBITDA, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP free cash flow, Non-GAAP free cash flow margin, and constant currency revenue. Non-GAAP subscriptions gross margin is defined as Non-GAAP subscriptions gross profit divided by GAAP subscriptions revenue. Non-GAAP other gross margin is defined as Non-GAAP other gross profit divided by GAAP other revenue. Non-GAAP income (loss) from operations is defined as GAAP income (loss) from operations excluding share-based compensation which includes related employer payroll taxes, amortization of acquisition intangibles, third-party relocation costs tied to the conflict between Russia and Ukraine and other costs including acquisition-related transaction costs and retention payments, certain litigation-related costs, net impact of amended agreements with strategic partners, and restructuring costs. Non-GAAP operating margin is defined as Non-GAAP income (loss) from operations divided by total GAAP revenue. Non-GAAP adjusted EBITDA is defined as Non-GAAP income (loss) from operations excluding depreciation and amortization. Non-GAAP net income (loss) is defined as GAAP net income (loss) excluding share-based compensation which includes related employer payroll taxes, amortization of acquisition intangibles, third-party relocation costs tied to the conflict between Russia and Ukraine and other costs including acquisition-related transaction costs and retention payments, certain litigation-related costs, net impact of amended agreements with strategic partners, restructuring costs, non-cash interest expense associated with amortization of debt discount and issuance costs related to our long term debt, loss (gain) associated with investments, loss (gain) on early extinguishment of debt, intercompany remeasurement gains or losses, and the related income tax effect of these adjustments.

    Non-GAAP free cash flow is defined as GAAP net cash provided by (used in) operating activities adjusted for capital expenditures including purchases of property and equipment and capitalized internal-use software. We believe information regarding Non-GAAP free cash flow provides useful information to investors in understanding and evaluating the strength of liquidity and available cash. Non-GAAP free cash flow margin is defined as Non-GAAP free cash flow divided by total GAAP revenues.

    We have included Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP income (loss) from operations, Non-GAAP adjusted EBITDA, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP free cash flow, Non-GAAP free cash flow margin, and constant currency revenue in this press release because they are key measures used by us to understand and evaluate our operating performance and trends, to prepare and approve our annual budget, and to develop short and long-term operational plans. In particular, the exclusion of certain expenses and cash flow items in calculating Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP income (loss) from operations, Non-GAAP adjusted EBITDA, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP free cash flow, and Non-GAAP free cash flow margin provide useful measure for period-to-period comparisons of our business.

    We have provided certain revenue-related information adjusted for constant currency to provide a framework for assessing how our underlying business performed excluding the effect of foreign currency rate fluctuations. To present this information, current period results in currencies other than United States dollars are converted into United States dollars at the average exchange rate prevailing for the quarter being compared to for growth rate calculations presented, rather than the actual exchange rates in effect during that period.

    Although Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP income (loss) from operations, Non-GAAP adjusted EBITDA, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP free cash flow, Non-GAAP free cash flow margin, and constant currency revenue are frequently used by investors in their evaluations of companies, these non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Because of these limitations, these non-GAAP financial measures should be considered alongside other financial performance measures.

    Reconciliations of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release.

    Other Measures

    Our reported results also include our annualized exit monthly recurring subscriptions, mid-market and enterprise annualized exit monthly recurring subscriptions, enterprise annualized exit monthly recurring subscriptions and net monthly subscriptions dollar retention rate. We define our annualized exit monthly recurring subscriptions as our monthly recurring subscriptions multiplied by 12. Our monthly recurring subscriptions equal the monthly value of all customer recurring charges contracted at the end of a given month. We believe this metric is a leading indicator of our anticipated subscriptions revenue. We calculate mid-market and enterprise annualized exit monthly recurring subscriptions in the same manner as we calculate our annualized exit monthly recurring subscriptions, except that only customer subscriptions from customers generating $25,000 or more in annual recurring revenue are included. We calculate enterprise annualized exit monthly recurring subscriptions in the same manner as we calculate our annualized exit monthly recurring subscriptions, except that only customer subscriptions from customers generating $100,000 or more in annual recurring revenue are included. We define our Net Monthly Subscription Dollar Retention Rate as (i) one plus (ii) the quotient of Dollar Net Change divided by Average Monthly Recurring Subscriptions. We calculate dollar net change as the quotient of (i) the difference of our monthly recurring subscriptions at the end of a period minus our monthly recurring subscriptions at the beginning of a period minus our monthly recurring subscriptions at the end of the period from new customers we added during the period, (ii) all divided by the number of months in the period. We define our average monthly recurring subscriptions as the average of the monthly recurring subscriptions at the beginning and end of the measurement period.

    TABLE 1

    RINGCENTRAL, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (Unaudited, in thousands)

     

     

    September 30, 2024

     

    December 31, 2023

    Assets

     

     

     

    Current assets

     

     

     

    Cash and cash equivalents

    $

    212,652

     

     

    $

    222,195

     

    Accounts receivable, net

     

    395,805

     

     

     

    364,438

     

    Deferred and prepaid sales commission costs

     

    185,906

     

     

     

    184,620

     

    Prepaid expenses and other current assets

     

    64,612

     

     

     

    77,396

     

    Total current assets

     

    858,975

     

     

     

    848,649

     

    Property and equipment, net

     

    185,160

     

     

     

    184,390

     

    Operating lease right-of-use assets

     

    45,100

     

     

     

    42,989

     

    Deferred and prepaid sales commission costs, non-current

     

    347,683

     

     

     

    395,724

     

    Goodwill

     

    75,322

     

     

     

    67,370

     

    Acquired intangibles, net

     

    290,234

     

     

     

    393,767

     

    Other assets

     

    15,908

     

     

     

    12,024

     

    Total assets

    $

    1,818,382

     

     

    $

    1,944,913

     

    Liabilities, Temporary Equity, and Stockholders' Deficit

     

     

     

    Current liabilities

     

     

     

    Accounts payable

    $

    34,786

     

     

    $

    53,295

     

    Accrued liabilities

     

    287,820

     

     

     

    325,632

     

    Current portion of long-term debt, net

     

    181,143

     

     

     

    20,000

     

    Deferred revenue

     

    260,999

     

     

     

    233,619

     

    Total current liabilities

     

    764,748

     

     

     

    632,546

     

    Long-term debt, net

     

    1,352,057

     

     

     

    1,525,482

     

    Operating lease liabilities

     

    29,830

     

     

     

    28,178

     

    Other long-term liabilities

     

    17,648

     

     

     

    61,827

     

    Total liabilities

     

    2,164,283

     

     

     

    2,248,033

     

     

     

     

     

    Temporary equity

     

     

     

    Series A convertible preferred stock

     

    199,449

     

     

     

    199,449

     

     

     

     

     

    Stockholders' deficit

     

     

     

    Common stock

     

    9

     

     

     

    9

     

    Additional paid-in capital

     

    1,210,961

     

     

     

    1,204,781

     

    Accumulated other comprehensive loss

     

    (6,084

    )

     

     

    (8,223

    )

    Accumulated deficit

     

    (1,750,236

    )

     

     

    (1,699,136

    )

    Total stockholders' deficit

    $

    (545,350

    )

     

    $

    (502,569

    )

    Total liabilities, temporary equity and stockholders' deficit

    $

    1,818,382

     

     

    $

    1,944,913

     

    TABLE 2

    RINGCENTRAL, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (Unaudited, in thousands, except per share data)

     

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Revenues

     

     

     

     

     

     

     

    Subscriptions

    $

    582,970

     

     

    $

    531,030

     

     

    $

    1,707,515

     

     

    $

    1,552,956

     

    Other

     

    25,795

     

     

     

    27,134

     

     

     

    78,368

     

     

     

    78,202

     

    Total revenues

     

    608,765

     

     

     

    558,164

     

     

     

    1,785,883

     

     

     

    1,631,158

     

    Cost of revenues

     

     

     

     

     

     

     

    Subscriptions

     

    150,864

     

     

     

    141,172

     

     

     

    442,621

     

     

     

    413,664

     

    Other

     

    29,320

     

     

     

    27,802

     

     

     

    84,712

     

     

     

    80,403

     

    Total cost of revenues

     

    180,184

     

     

     

    168,974

     

     

     

    527,333

     

     

     

    494,067

     

    Gross profit

     

    428,581

     

     

     

    389,190

     

     

     

    1,258,550

     

     

     

    1,137,091

     

    Operating expenses

     

     

     

     

     

     

     

    Research and development

     

    84,144

     

     

     

    85,444

     

     

     

    244,422

     

     

     

    250,965

     

    Sales and marketing

     

    276,976

     

     

     

    270,767

     

     

     

    819,193

     

     

     

    795,422

     

    General and administrative

     

    64,170

     

     

     

    87,154

     

     

     

    207,902

     

     

     

    244,472

     

    Total operating expenses

     

    425,290

     

     

     

    443,365

     

     

     

    1,271,517

     

     

     

    1,290,859

     

    Income (loss) from operations

     

    3,291

     

     

     

    (54,175

    )

     

     

    (12,967

    )

     

     

    (153,768

    )

    Other income (expense), net

     

     

     

     

     

     

     

    Interest expense

     

    (16,393

    )

     

     

    (12,162

    )

     

     

    (48,668

    )

     

     

    (19,492

    )

    Other income

     

    1,073

     

     

     

    20,441

     

     

     

    12,820

     

     

     

    61,521

     

    Other income (expense), net

     

    (15,320

    )

     

     

    8,279

     

     

     

    (35,848

    )

     

     

    42,029

     

    Loss before income taxes

     

    (12,029

    )

     

     

    (45,896

    )

     

     

    (48,815

    )

     

     

    (111,739

    )

    (Benefit from) provision for income taxes

     

    (4,176

    )

     

     

    (3,780

    )

     

     

    2,285

     

     

     

    6,258

     

    Net loss

    $

    (7,853

    )

     

    $

    (42,116

    )

     

    $

    (51,100

    )

     

    $

    (117,997

    )

    Net loss per common share

     

     

     

     

     

     

     

    Basic and diluted

    $

    (0.09

    )

     

    $

    (0.45

    )

     

    $

    (0.55

    )

     

    $

    (1.24

    )

    Weighted-average number of shares used in computing net loss per share

     

     

     

     

     

     

     

    Basic and diluted

     

    91,892

     

     

     

    94,593

     

     

     

    92,590

     

     

     

    95,213

     

    TABLE 3

    RINGCENTRAL, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited, in thousands)

     

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

    Cash flows from operating activities

     

     

     

    Net loss

    $

    (51,100

    )

     

    $

    (117,997

    )

    Adjustments to reconcile net loss to net cash provided by operating activities:

     

     

     

    Depreciation and amortization

     

    167,557

     

     

     

    174,723

     

    Share-based compensation

     

    258,607

     

     

     

    314,533

     

    Unrealized loss on investments

     

    —

     

     

     

    1,646

     

    Amortization of deferred and prepaid sales commission costs

     

    120,685

     

     

     

    100,618

     

    Amortization of debt discount and issuance costs

     

    3,112

     

     

     

    3,465

     

    Gain on early extinguishment of debt

     

    —

     

     

     

    (42,891

    )

    Reduction of operating lease right-of-use assets

     

    15,329

     

     

     

    15,272

     

    Provision for bad debt

     

    4,852

     

     

     

    5,200

     

    Other

     

    (11,762

    )

     

     

    4,879

     

    Changes in assets and liabilities:

     

     

     

    Accounts receivable

     

    (36,219

    )

     

     

    (39,641

    )

    Deferred and prepaid sales commission costs

     

    (99,238

    )

     

     

    (103,773

    )

    Prepaid expenses and other assets

     

    15,592

     

     

     

    (7,251

    )

    Accounts payable

     

    (17,473

    )

     

     

    (31,664

    )

    Accrued and other liabilities

     

    (24,461

    )

     

     

    9,383

     

    Deferred revenue

     

    18,709

     

     

     

    15,309

     

    Operating lease liabilities

     

    (13,796

    )

     

     

    (15,993

    )

    Net cash provided by operating activities

     

    350,394

     

     

     

    285,818

     

    Cash flows from investing activities

     

     

     

    Purchases of property and equipment

     

    (18,617

    )

     

     

    (17,515

    )

    Capitalized internal-use software

     

    (40,858

    )

     

     

    (38,241

    )

    Cash paid for business combination, net of cash acquired

     

    (26,291

    )

     

     

    (14,709

    )

    Purchases of intangible assets

     

    (2,540

    )

     

     

    —

     

    Net cash used in investing activities

     

    (88,306

    )

     

     

    (70,465

    )

    Cash flows from financing activities

     

     

     

    Proceeds from issuance of stock in connection with stock plans

     

    10,000

     

     

     

    10,954

     

    Payments for taxes related to net share settlement of equity awards

     

    (5,333

    )

     

     

    (7,124

    )

    Payments for repurchases of common stock

     

    (244,996

    )

     

     

    (249,568

    )

    Proceeds from issuance of long-term debt, net of issuance costs

     

    —

     

     

     

    786,311

     

    Payments for the repurchase of convertible notes

     

    —

     

     

     

    (580,960

    )

    Payments for fees on long-term debt

     

    (4,308

    )

     

     

    —

     

    Repayments of principal on long-term debt

     

    (15,000

    )

     

     

    (5,000

    )

    Repayments for financing obligations

     

    (3,085

    )

     

     

    (4,738

    )

    Payments for contingent consideration

     

    (10,345

    )

     

     

    (1,673

    )

    Net cash used in financing activities

     

    (273,067

    )

     

     

    (51,798

    )

    Effect of exchange rate changes

     

    1,436

     

     

     

    (1,187

    )

    Net increase (decrease) in cash, cash equivalents, and restricted cash

     

    (9,543

    )

     

     

    162,368

     

    Cash, cash equivalents, and restricted cash

     

     

     

    Beginning of period

     

    222,195

     

     

     

    269,984

     

    End of period

    $

    212,652

     

     

    $

    432,352

     

    TABLE 4

    RINGCENTRAL, INC.

    RECONCILIATION OF OPERATING INCOME (LOSS)

    GAAP MEASURES TO NON-GAAP MEASURES

    (Unaudited, in thousands)

     

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Revenues

     

     

     

     

     

     

     

    Subscriptions

    $

    582,970

     

     

    $

    531,030

     

     

    $

    1,707,515

     

     

    $

    1,552,956

     

    Other

     

    25,795

     

     

     

    27,134

     

     

     

    78,368

     

     

     

    78,202

     

    Total revenues

    $

    608,765

     

     

    $

    558,164

     

     

    $

    1,785,883

     

     

    $

    1,631,158

     

    Cost of revenues reconciliation

     

     

     

     

     

     

     

    GAAP Subscriptions cost of revenues

    $

    150,864

     

     

    $

    141,172

     

     

    $

    442,621

     

     

    $

    413,664

     

    Share-based compensation

     

    (5,536

    )

     

     

    (7,392

    )

     

     

    (18,028

    )

     

     

    (21,096

    )

    Amortization of acquired intangibles

     

    (31,376

    )

     

     

    (37,045

    )

     

     

    (99,228

    )

     

     

    (110,324

    )

    Third-party relocation and other costs

     

    —

     

     

     

    (93

    )

     

     

    (49

    )

     

     

    (105

    )

    Restructuring costs

     

    (313

    )

     

     

    —

     

     

     

    (572

    )

     

     

    (637

    )

    Non-GAAP Subscriptions cost of revenues

    $

    113,639

     

     

    $

    96,642

     

     

    $

    324,744

     

     

    $

    281,502

     

     

     

     

     

     

     

     

     

    GAAP Other cost of revenues

    $

    29,320

     

     

    $

    27,802

     

     

    $

    84,712

     

     

    $

    80,403

     

    Share-based compensation

     

    (1,919

    )

     

     

    (2,380

    )

     

     

    (5,995

    )

     

     

    (6,892

    )

    Amortization of acquired intangibles

     

    (21

    )

     

     

    (22

    )

     

     

    (65

    )

     

     

    (66

    )

    Restructuring costs

     

    (400

    )

     

     

    (6

    )

     

     

    (748

    )

     

     

    (58

    )

    Non-GAAP Other cost of revenues

    $

    26,980

     

     

    $

    25,394

     

     

    $

    77,904

     

     

    $

    73,387

     

    Gross profit and gross margin reconciliation

     

     

     

     

     

     

     

    Non-GAAP Subscriptions

     

    80.5

    %

     

     

    81.8

    %

     

     

    81.0

    %

     

     

    81.9

    %

    Non-GAAP Other

     

    (4.6

    )%

     

     

    6.4

    %

     

     

    0.6

    %

     

     

    6.2

    %

    Non-GAAP Gross profit

     

    76.9

    %

     

     

    78.1

    %

     

     

    77.5

    %

     

     

    78.2

    %

    Operating expenses reconciliation

     

     

     

     

     

     

     

    GAAP Research and development

    $

    84,144

     

     

    $

    85,444

     

     

    $

    244,422

     

     

    $

    250,965

     

    Share-based compensation

     

    (20,033

    )

     

     

    (24,576

    )

     

     

    (59,644

    )

     

     

    (71,804

    )

    Third-party relocation and other costs

     

    (732

    )

     

     

    (3,401

    )

     

     

    (2,277

    )

     

     

    (4,964

    )

    Restructuring costs

     

    (1,056

    )

     

     

    (1,794

    )

     

     

    (2,829

    )

     

     

    (4,281

    )

    Non-GAAP Research and development

    $

    62,323

     

     

    $

    55,673

     

     

    $

    179,672

     

     

    $

    169,916

     

    As a % of total revenues non-GAAP

     

    10.2

    %

     

     

    10.0

    %

     

     

    10.1

    %

     

     

    10.4

    %

     

     

     

     

     

     

     

     

    GAAP Sales and marketing

    $

    276,976

     

     

    $

    270,767

     

     

    $

    819,193

     

     

    $

    795,422

     

    Share-based compensation

     

    (35,528

    )

     

     

    (38,287

    )

     

     

    (104,028

    )

     

     

    (117,063

    )

    Amortization of acquired intangibles

     

    (2,055

    )

     

     

    (1,134

    )

     

     

    (3,798

    )

     

     

    (2,529

    )

    Third-party relocation and other costs

     

    —

     

     

     

    (86

    )

     

     

    (332

    )

     

     

    (101

    )

    Restructuring costs

     

    (2,028

    )

     

     

    (1,124

    )

     

     

    (4,639

    )

     

     

    (5,093

    )

    Non-GAAP Sales and marketing

    $

    237,365

     

     

    $

    230,136

     

     

    $

    706,396

     

     

    $

    670,636

     

    As a % of total revenues non-GAAP

     

    39.0

    %

     

     

    41.2

    %

     

     

    39.6

    %

     

     

    41.1

    %

     

     

     

     

     

     

     

     

    GAAP General and administrative

    $

    64,170

     

     

    $

    87,154

     

     

    $

    207,902

     

     

    $

    244,472

     

    Share-based compensation

     

    (22,092

    )

     

     

    (40,456

    )

     

     

    (77,374

    )

     

     

    (103,858

    )

    Third-party relocation and other costs

     

    (463

    )

     

     

    (1,689

    )

     

     

    (4,691

    )

     

     

    (5,317

    )

    Restructuring costs

     

    (1,049

    )

     

     

    (1,520

    )

     

     

    (1,838

    )

     

     

    (2,856

    )

    Non-GAAP General and administrative

    $

    40,566

     

     

    $

    43,489

     

     

    $

    123,999

     

     

    $

    132,441

     

    As a % of total revenues non-GAAP

     

    6.7

    %

     

     

    7.8

    %

     

     

    6.9

    %

     

     

    8.1

    %

    Income (loss) from operations reconciliation

     

     

     

     

     

     

     

    GAAP income (loss) from operations

    $

    3,291

     

     

    $

    (54,175

    )

     

    $

    (12,967

    )

     

    $

    (153,768

    )

    Share-based compensation

     

    85,108

     

     

     

    113,091

     

     

     

    265,069

     

     

     

    320,713

     

    Amortization of acquired intangibles

     

    33,452

     

     

     

    38,201

     

     

     

    103,091

     

     

     

    112,919

     

    Third-party relocation and other costs, net

     

    1,195

     

     

     

    5,269

     

     

     

    7,349

     

     

     

    10,487

     

    Restructuring costs

     

    4,846

     

     

     

    4,444

     

     

     

    10,626

     

     

     

    12,925

     

    Non-GAAP Income from operations

    $

    127,892

     

     

    $

    106,830

     

     

    $

    373,168

     

     

    $

    303,276

     

    Non-GAAP Operating margin

     

    21.0

    %

     

     

    19.1

    %

     

     

    20.9

    %

     

     

    18.6

    %

     

     

     

     

     

     

     

     

    Depreciation and amortization

    $

    21,131

     

     

    $

    20,966

     

     

    $

    64,466

     

     

    $

    61,804

     

    Non-GAAP Adjusted EBITDA

    $

    149,023

     

     

    $

    127,796

     

     

    $

    437,634

     

     

    $

    365,080

     

    As a % of total revenues non-GAAP

     

    24.5

    %

     

     

    22.9

    %

     

     

    24.5

    %

     

     

    22.4

    %

    TABLE 5

    RINGCENTRAL, INC.

    RECONCILIATION OF NET INCOME (LOSS)

    GAAP MEASURES TO NON-GAAP MEASURES

    (In thousands, except per share data) (Unaudited)

     

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Net income (loss) reconciliation

     

     

     

     

     

     

     

    GAAP net loss

    $

    (7,853

    )

     

    $

    (42,116

    )

     

    $

    (51,100

    )

     

    $

    (117,997

    )

    Share-based compensation

     

    85,108

     

     

     

    113,091

     

     

     

    265,069

     

     

     

    320,713

     

    Amortization of acquired intangibles

     

    33,452

     

     

     

    38,201

     

     

     

    103,091

     

     

     

    112,919

     

    Third-party relocation and other costs, net

     

    1,158

     

     

     

    (1,731

    )

     

     

    (349

    )

     

     

    (22

    )

    Restructuring costs

     

    4,846

     

     

     

    4,444

     

     

     

    10,626

     

     

     

    12,925

     

    Amortization of debt discount and issuance costs

     

    1,098

     

     

     

    1,067

     

     

     

    3,112

     

     

     

    3,465

     

    Loss associated with investments

     

    —

     

     

     

    99

     

     

     

    458

     

     

     

    1,745

     

    Gain on early extinguishment of debt

     

    —

     

     

     

    (11,784

    )

     

     

    —

     

     

     

    (42,891

    )

    Intercompany remeasurement loss (gain)

     

    1,116

     

     

     

    669

     

     

     

    820

     

     

     

    (1,217

    )

    Income tax expense effects

     

    (29,995

    )

     

     

    (25,866

    )

     

     

    (72,868

    )

     

     

    (60,319

    )

    Non-GAAP net income

    $

    88,930

     

     

    $

    76,074

     

     

    $

    258,859

     

     

    $

    229,321

     

    Reconciliation between GAAP and non-GAAP weighted average shares used in computing basic and diluted net income (loss) per common share:

     

     

     

     

     

     

     

    Weighted average number of shares used in

    computing basic net loss per share

     

    91,892

     

     

     

    94,593

     

     

     

    92,590

     

     

     

    95,213

     

    Effect of dilutive securities

     

    1,952

     

     

     

    2,362

     

     

     

    2,308

     

     

     

    1,622

     

    Non-GAAP weighted average shares used in

    computing non-GAAP diluted net income per share

     

    93,844

     

     

     

    96,955

     

     

     

    94,898

     

     

     

    96,835

     

     

     

     

     

     

     

     

     

    Diluted net income (loss) per share

     

     

     

     

     

     

     

    GAAP net loss per share

    $

    (0.09

    )

     

    $

    (0.45

    )

     

    $

    (0.55

    )

     

    $

    (1.24

    )

    Non-GAAP net income per share

    $

    0.95

     

     

    $

    0.78

     

     

    $

    2.73

     

     

    $

    2.37

     

    TABLE 6

    RINGCENTRAL, INC.

    RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES

    GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES

    (Unaudited, in thousands)

     

     

    Three Months Ended

    September 30,

     

    Nine Months Ended

    September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Net cash provided by operating activities

    $

    127,219

     

     

    $

    86,594

     

     

    $

    350,394

     

     

    $

    285,818

     

    Capitalized expenditures

     

    (21,774

    )

     

     

    (16,632

    )

     

     

    (59,475

    )

     

     

    (55,756

    )

    Non-GAAP free cash flow

    $

    105,445

     

     

    $

    69,962

     

     

    $

    290,919

     

     

    $

    230,062

     

    Non-GAAP free cash flow margin

     

    17.3

    %

     

     

    12.5

    %

     

     

    16.3

    %

     

     

    14.1

    %

    TABLE 7

    RINGCENTRAL, INC.

    RECONCILIATION OF FORECASTED OPERATING MARGIN AND FREE CASH FLOW

    GAAP MEASURES TO NON-GAAP MEASURES

    (Unaudited, in millions)

     

     

    Q4 2024

     

    FY 2024

     

    Low Range

     

    High Range

     

    Low Range

     

    High Range

    GAAP revenues

    611.0

     

     

    613.0

     

     

     

    2,396.9

     

     

     

    2,398.9

     

     

     

     

     

     

     

     

     

    GAAP loss from operations

    (0.5

    )

     

    5.0

     

     

     

    (17.0

    )

     

     

    (11.6

    )

    GAAP operating margin

    (0.1

    %)

     

    0.8

    %

     

     

    (0.7

    %)

     

     

    (0.5

    %)

    Share-based compensation

    90.0

     

     

    85.0

     

     

     

    355.0

     

     

     

    350.0

     

    Amortization of acquired intangibles

    35.0

     

     

    35.0

     

     

     

    137.8

     

     

     

    137.8

     

    Third-party relocation and other costs, net

    —

     

     

    —

     

     

     

    10.8

     

     

     

    10.8

     

    Restructuring costs

    5.0

     

     

    5.0

     

     

     

    16.0

     

     

     

    16.0

     

    Non-GAAP income from operations

    129.5

     

     

    130.0

     

     

     

    502.6

     

     

     

    503.0

     

    Non-GAAP operating margin

    21.2

    %

     

    21.2

    %

     

     

    21.0

    %

     

     

    21.0

    %

     

     

    FY 2024

     

    Low Range

     

    High Range

    GAAP net cash provided by operating activities

    $

    485.0

     

     

    $

    490.0

     

    Capitalized expenditures

     

    (85.0

    )

     

     

    (85.0

    )

    Non-GAAP free cash flow

    $

    400.0

     

     

    $

    405.0

     

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241107332378/en/

    Get the next $RNG alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $RNG

    DatePrice TargetRatingAnalyst
    1/27/2025$45.00 → $37.00Overweight → Equal Weight
    Barclays
    1/7/2025$38.00 → $30.00Equal Weight → Underweight
    Wells Fargo
    1/3/2025$50.00 → $45.00Strong Buy → Outperform
    Raymond James
    12/13/2024$42.00Outperform → Neutral
    Mizuho
    8/2/2024$45.00Neutral → Buy
    Rosenblatt
    12/20/2023$36.00Overweight → Equal Weight
    Wells Fargo
    12/12/2023$40.00 → $35.00Buy → Hold
    Jefferies
    10/23/2023$52.00 → $35.00Buy → Neutral
    Rosenblatt
    More analyst ratings

    $RNG
    SEC Filings

    See more
    • RingCentral Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - RingCentral, Inc. (0001384905) (Filer)

      5/8/25 4:40:35 PM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

      8-K - RingCentral, Inc. (0001384905) (Filer)

      3/27/25 4:42:15 PM ET
      $RNG
      EDP Services
      Technology
    • SEC Form S-8 filed by RingCentral Inc.

      S-8 - RingCentral, Inc. (0001384905) (Filer)

      2/26/25 4:18:56 PM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Leadership Updates

    Live Leadership Updates

    See more
    • RingCentral Announces Appointment of Kira Makagon as President and Chief Operating Officer

      RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications, today announced that it has appointed Kira Makagon, current Chief Innovation Officer and CMO, as President and Chief Operating Officer, effective today. Makagon will be responsible for the Company's product and technology organization, direct and channel sales, customer success, marketing, and operations organizations. Vlad Shmunis, RingCentral's Founder, Chairman, and CEO, said, "Kira's visionary leadership at RingCentral spans over a decade, spearheading our product innovation and establishing our brand as an industry leader. Kira's proven track record of building high-performing teams and her de

      2/20/25 4:05:00 PM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Appoints Abhey Lamba as Chief Financial Officer

      RingCentral, Inc. (NYSE:RNG), a leading global provider of trusted AI communications for businesses of all sizes, today announced that Abhey Lamba has been appointed Chief Financial Officer and will join in his new role in the coming weeks. Lamba will be responsible for all the Company's financial functions, including financial planning, controllership, tax, treasury, corporate development and investor relations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241107140330/en/Abhey Lamba, courtesy of RingCentral A seasoned finance and technology leader with more than 30 years of experience, Lamba joins RingCentral from Amazon Web

      11/7/24 4:05:00 PM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Appoints Prat Bhatt to Board of Directors

      RingCentral, Inc. (NYSE:RNG), a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions, today announced that Prat Bhatt has been appointed to the Company's Board of Directors, effective March 1, 2024. Bhatt has been named a member of the Board's audit committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240220097878/en/Photo of Prat Bhatt, courtesy of RingCentral Bhatt is an accomplished technology industry veteran and financial expert, having previously served as Chief Accounting Officer of Cisco Systems. In his more than 20 years at Cisco, Bhatt was instrumental in sc

      2/20/24 4:05:00 PM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • RingCentral Announces First Quarter 2025 Results

      Exceeded $2.5 billion in ARR Total revenue at the high end of guidance with record cash flow GAAP operating profitable for the third consecutive quarter; non-GAAP operating margin above guidance Now has over 1,000 paying customers on each of RingCX and AI Receptionist (AIR) RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, today announced financial results for the first quarter ended March 31, 2025. "Our continued leadership in UCaaS, combined with strong early momentum in CCaaS and accelerated adoption of our AI-powered solutions, drove solid Q1 results, with ARR surpassing $2.5 billion," said Vlad Shmunis, RingCentral's Founder, Chairman, and CEO. "

      5/8/25 4:05:00 PM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Recognized by Frost & Sullivan with the 2025 Global Customer Value Leadership Award for Excellence in Web Events

      Award highlights RingCentral Events' innovative approach; robust, AI-driven platform; and commitment to maximizing customer ROI New, simplified pricing model further empowers marketers RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, announced today that it has been recognized by Frost & Sullivan with the prestigious 2025 Global Customer Value Leadership Award for exemplary performance in the web events industry. According to Frost & Sullivan, RingCentral Events™ stands out by taking a value-driven strategy designed specifically to make virtual, hybrid, and in-person events engaging, powerful, simple, and affordable for customers. Evaluated based on rig

      5/7/25 8:00:00 AM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Announces RingCX for Salesforce Service Cloud Voice on Salesforce AppExchange

      Provides a single pane of glass for omnichannel customer engagement Drives intelligent, effortless, and personalized experiences across the customer journey Enriches CRM ecosystem with deep insights into customer interactions RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, today announced it has launched RingCX™ for Salesforce Service Cloud Voice on Salesforce AppExchange, a leading enterprise marketplace for partner apps and experts, empowering customers to deliver a unified and streamlined experience for agents by integrating RingCentral's digital channel and voice capabilities into Salesforce. This powerful combination enables organizations to not

      5/5/25 8:00:00 AM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Financials

    Live finance-specific insights

    See more
    • RingCentral Announces First Quarter 2025 Results

      Exceeded $2.5 billion in ARR Total revenue at the high end of guidance with record cash flow GAAP operating profitable for the third consecutive quarter; non-GAAP operating margin above guidance Now has over 1,000 paying customers on each of RingCX and AI Receptionist (AIR) RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, today announced financial results for the first quarter ended March 31, 2025. "Our continued leadership in UCaaS, combined with strong early momentum in CCaaS and accelerated adoption of our AI-powered solutions, drove solid Q1 results, with ARR surpassing $2.5 billion," said Vlad Shmunis, RingCentral's Founder, Chairman, and CEO. "

      5/8/25 4:05:00 PM ET
      $RNG
      EDP Services
      Technology
    • RingCentral to Announce First Quarter 2025 Financial Results On May 8, 2025

      RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered business communications, today announced that it will report financial results for the first quarter ended March 31, 2025 after market close on May 8, 2025. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its financial results. The conference call can be accessed by dialing 1-888-349-0093 from the United States or 1-412-317-5201 internationally with reference to the company name and conference title. Following the completion of the call through 11:59 PM Eastern Time on May 8, 2025, a telephone replay will also be available by dialing 1-844-512

      4/24/25 8:00:00 AM ET
      $RNG
      EDP Services
      Technology
    • RingCentral Announces Fourth Quarter and Fiscal Year 2024 Results

      Q4 2024 revenue and operating margin above guidance range with record cash flow Exceeded $50 million ARR from new products Kira Makagon promoted to President and Chief Operating Officer RingCentral, Inc. (NYSE:RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. "We had a good fourth quarter, capping a strong year," said Vlad Shmunis, RingCentral's founder and CEO. "Our new AI-powered products are gaining steam, and today we unveiled RingCentral AI Receptionist, or AIR, which we believe will deliver tremendous value to businesses everywhere. Buildi

      2/20/25 4:05:00 PM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • RingCentral downgraded by Barclays with a new price target

      Barclays downgraded RingCentral from Overweight to Equal Weight and set a new price target of $37.00 from $45.00 previously

      1/27/25 7:49:40 AM ET
      $RNG
      EDP Services
      Technology
    • RingCentral downgraded by Wells Fargo with a new price target

      Wells Fargo downgraded RingCentral from Equal Weight to Underweight and set a new price target of $30.00 from $38.00 previously

      1/7/25 8:25:38 AM ET
      $RNG
      EDP Services
      Technology
    • RingCentral downgraded by Raymond James with a new price target

      Raymond James downgraded RingCentral from Strong Buy to Outperform and set a new price target of $45.00 from $50.00 previously

      1/3/25 7:48:17 AM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by RingCentral Inc.

      SC 13G - RingCentral, Inc. (0001384905) (Subject)

      11/21/24 6:08:56 AM ET
      $RNG
      EDP Services
      Technology
    • Amendment: SEC Form SC 13G/A filed by RingCentral Inc.

      SC 13G/A - RingCentral, Inc. (0001384905) (Subject)

      11/14/24 12:30:28 PM ET
      $RNG
      EDP Services
      Technology
    • Amendment: SEC Form SC 13G/A filed by RingCentral Inc.

      SC 13G/A - RingCentral, Inc. (0001384905) (Subject)

      11/13/24 12:52:42 PM ET
      $RNG
      EDP Services
      Technology

    $RNG
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Bhatt Prat was granted 13,287 shares, increasing direct ownership by 129% to 23,581 units (SEC Form 4)

      4 - RingCentral, Inc. (0001384905) (Issuer)

      4/3/25 4:05:11 PM ET
      $RNG
      EDP Services
      Technology
    • New insider Arora Tarun claimed ownership of 64,335 shares (SEC Form 3)

      3 - RingCentral, Inc. (0001384905) (Issuer)

      3/4/25 4:16:24 PM ET
      $RNG
      EDP Services
      Technology
    • Director Theis Robert I sold $40,344 worth of shares (1,457 units at $27.69), decreasing direct ownership by 5% to 27,233 units (SEC Form 4)

      4 - RingCentral, Inc. (0001384905) (Issuer)

      3/4/25 4:15:29 PM ET
      $RNG
      EDP Services
      Technology