RingCentral Stock Price, News & Analysis

RingCentral, Inc. (NYSE:RNG) reported strong financial results for Q4 2022, with total revenue reaching $525 million, a 17% increase year over year. Annualized exit monthly recurring subscriptions (ARR) also grew 17% to $2.1 billion. Subscriptions revenue rose 19% to $502 million. Despite a GAAP operating loss of ($256) million, the company achieved a record non-GAAP operating margin of 14.0%. Additionally, a new $600 million credit facility was announced. For 2023, the company projects subscriptions revenue to be between $2.080 and $2.100 billion, with total revenue projected at $2.180 to $2.200 billion.

RingCentral (NYSE: RNG) has announced a multi-year strategic collaboration with Amazon Web Services (AWS) aimed at accelerating cloud adoption for businesses. This partnership will integrate RingCentral MVP® and Contact Center solutions into AWS offerings, enhancing customer communication across various sectors such as healthcare, finance, and education. The collaboration will focus on cloud migration and training to optimize integration, initially targeting North America and later expanding to Europe, Asia Pacific, and Latin America. Both companies will also invest in joint marketing efforts.

RingCentral, Inc. (NYSE: RNG) has announced an extended strategic partnership with Avaya Inc., solidifying Avaya Cloud Office by RingCentral as the exclusive UCaaS solution for Avaya's customers. The enhanced agreement aims to drive accelerated customer migration to ACO through improved seat commitments and incentives. With this expansion, both companies will invest in product development and integrate offerings to capitalize on Avaya’s large installed base. CEO Vlad Shmunis mentioned the success of previous seat transitions, indicating a strong continuation of this trend. The partnership is expected to enhance customer cloud migration experiences while creating significant growth opportunities for both companies.

RingCentral, Inc. (NYSE: RNG) will report its fourth-quarter financial results for the period ended December 31, 2022, after market close on February 15, 2023. Following the announcement, a conference call will be held at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss the financial results. Investors can access the call by dialing provided numbers or through a live webcast available on the company's investor relations website. RingCentral is recognized for its cloud communications and contact center solutions, empowering modern workforces with its MVP platform and various integrated products.

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.