RingCentral Stock Price, News & Analysis

RingCentral, Inc. (NYSE: RNG) has partnered with MegaCorp Logistics, a growing U.S. logistics firm, to enhance their cloud communications for better customer engagement. Previously, MegaCorp faced significant revenue loss due to phone system outages costing up to $40,000 per hour. The partnership aims to implement flexible, scalable, and reliable communications solutions, enabling MegaCorp to meet increasing business demands. RingCentral's advanced technology is expected to support MegaCorp's continued growth trajectory and improve operational efficiency in complex supply chains.

Westland Insurance Group Ltd. has chosen RingCentral, Inc. (NYSE:RNG) to enhance its business communication as it prepares for significant growth. Utilizing RingCentral MVP, Westland aims to integrate communications across its operations for over 2,200 employees in Canada. The need for a reliable centralized solution was driven by inefficiencies from managing multiple vendors. Key reasons for choosing RingCentral include ease of use and integration capabilities, enabling improved collaboration and scalability as Westland embarks on national expansion.

RingCentral, Inc. (NYSE: RNG) has expanded its End-to-End Encryption (E2EE) to support phone and messaging, enhancing security for its RingCentral MVP® platform. This technology safeguards communications, preventing unauthorized access and providing privacy for sensitive conversations. E2EE also supports large groups and can be activated mid-conversation. With GDPR fines rising 570% from 2020 to 2021, this offering aims to streamline compliance and enhance protection against data breaches. The E2EE feature is currently available for video and will enter closed beta for phone and messaging towards the end of the year.

RingCentral has launched a new Device as a Service (DaaS)U.S. customers, with monthly hardware costs ranging from $3.50 to $336.00.

RingCentral (NYSE:RNG) has been recognized by Gartner as a Leader in the 2022 Magic Quadrant for Unified Communications as a Service (UCaaS) for the eighth consecutive year, reinforcing its position in the cloud communications sector. This recognition supports RingCentral's commitment to innovation and enhancing digital transformation strategies for businesses. Notable enhancements in its UCaaS offerings include features like AI-based meeting insights and next-gen analytics, aimed at simplifying communications and improving customer experiences.

RingCentral, Inc. (NYSE: RNG) has been recognized by the Frost and Sullivan Institute and MSCI for its commitment to environmental, social, and corporate governance (ESG). The company received the 2022 Enlightened Growth Leadership Best Practices Award for its sustained financial growth and positive societal impact. Additionally, RingCentral's MSCI ESG rating improved from A to AA, indicating enhanced resilience to ESG risks. Notably, the company invested $23.4 million in diverse suppliers and emphasizes mental health support for employees.

RingCentral, Inc. (NYSE: RNG) announces management presentations at several upcoming investor conferences. Key dates include the Credit Suisse Technology Conference on November 29, 2022, the Wells Fargo TMT Summit on November 30, 2022, and the UBS Global TMT Conference on December 5, 2022, among others. Live webcasts will be available on the company's investor relations website. RingCentral provides cloud communication solutions, including RingCentral MVP, RingCentral Video, and RingCentral Contact Center, to support modern workforces.

RingCentral and Charter Communications have entered a strategic partnership to launch new communication solutions tailored for businesses in today’s remote working environment. The offerings, Spectrum Business Connect with RingCentral and Spectrum Enterprise Unified Communications, combine RingCentral’s MVP™ platform with Charter’s high-speed internet. This collaboration aims to enhance productivity for small to large enterprises by providing reliable and secure communication tools. RingCentral remains a leading provider in the UCaaS market, boasting significant new features and integrations.

RingCentral (RNG) reported a strong performance in Q3 2022, with total revenue rising 23% to $509 million. Subscriptions revenue grew 25% to $483 million, while Annualized Exit Monthly Recurring Subscriptions reached $2.05 billion. The non-GAAP operating margin improved to a record 13.5%, up 300 basis points year-over-year. However, GAAP operating loss increased to $183 million, affected by a non-cash charge related to Avaya prepaid commissions. The company is implementing a reduction plan, anticipating a 10% workforce cut with associated costs of $10-15 million.