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RingCentral, Inc. (symbol: RNG) is a leading provider in the Unified Communications as a Service (UCaaS) sector, offering businesses a seamless and secure way to manage voice, fax, text, and conferencing needs regardless of their size, location, device, or budget. Established in 2003, RingCentral has developed a robust cloud computing platform that ensures reliable and mission-critical business communications.
Unlike traditional phone companies, RingCentral delivers a flexible and easy-to-manage cloud communications solution that eliminates the need for on-premise phone systems and associated hardware. This allows businesses to easily set up, access, and control their communication services online or via a mobile device.
RingCentral's core product is the RingCentral MVP (Message, Video, Phone) solution, which integrates multiple communication methods into a single platform. Additionally, the company offers a cloud-based contact center solution and a stand-alone video meetings solution, as well as webinars.
Recent achievements include major partnerships and integrations with other cloud applications, further enhancing their service flexibility and scalability. The company’s financial health is underscored by consistent investments in their technology infrastructure, which has allowed them to provide a highly reliable and adaptable communication service.
RingCentral’s transformative approach has made it a significant player in modernizing business communications, moving companies away from outdated, on-premises systems to efficient, cloud-based solutions.
RingCentral, Inc. (NYSE:RNG) has been recognized by Gartner as a Leader in the 2021 Magic Quadrant for Unified Communications as a Service (UCaaS), marking its seventh consecutive year in this category. The report highlights RingCentral's strength in innovation and global service availability, especially in enhancing its Message Video Phone (MVP) platform with AI capabilities.
The company has also acquired Kindite and DeepAffects to further advance its offerings and partnered with Verizon Business and Vodafone Business for broader market reach.
RingCentral (NYSE: RNG) will announce its third-quarter financial results for the period ending September 30, 2021, after market close on November 9, 2021. A conference call will be held at 2:00 PM PT to discuss these results. Investors can access the call by dialing (888) 349-0093 in the U.S. or (412) 317-5201 internationally. A live webcast and replay will also be available on RingCentral’s investor relations page.
RingCentral offers cloud communication solutions and is headquartered in Belmont, California.
RingCentral (NYSE:RNG) has unveiled new capabilities to enhance its cloud-based business communications platform, enabling organizations to seamlessly integrate their preferred apps. These updates include new APIs for analytics and audit trails, facilitating customized workflows in hybrid work environments. The company also announced new partnerships with independent software vendors (ISVs) and significant momentum in their ISV program, highlighting the rapid growth of their platform, which now hosts over 60,000 developers and 6,500 custom applications.
RingCentral (NYSE:RNG) has launched RingCentral Rise, a platform tailored for service providers worldwide, allowing them to offer unique, co-branded cloud communications solutions swiftly. This initiative is aimed at accelerating the cloud transformation process for businesses, making it more seamless. Major service providers including AT&T, ecotel, MCM, and TELUS are already integrating RingCentral Rise into their offerings. This program enhances RingCentral's market position by fostering strategic partnerships and simplifying the customer transition to unified communications.
RingCentral (NYSE: RNG) partners with MCM Telecom to introduce a co-branded hybrid working solution, RingCentral for Symphony, for Mexican enterprises. This integrated platform combines video conferencing, mobile collaboration, and advanced phone capabilities, leveraging MCM's robust fiber network. The partnership aims to enhance business communications, enabling faster deployment and increased flexibility for organizations in Mexico. The initiative reflects the growing demand for unified communications solutions amid evolving workplace dynamics.
RingCentral (NYSE:RNG) has unveiled new features for its MVP™ platform, addressing hybrid work challenges with AI-powered meeting summaries, live transcription, and next-gen analytics. These innovations aim to improve productivity and enhance communication for distributed teams. Key features include automatic meeting transcriptions, concise summaries, and an infinite whiteboard for collaborative brainstorming. RingCentral also emphasizes enhanced data insights through customizable analytics dashboards. These advancements are expected to be available in Q1 2022, supporting organizations with efficient collaboration.
RingCentral (NYSE:RNG) has received a Unified License to provide its Unified Communications as a Service (UCaaS) and Contact Center solutions in India. This makes RingCentral the first global cloud provider to offer compliant voice and unified cloud communications in the region. The move aims to support global organizations transitioning to cloud-based services, capitalizing on India’s rapid economic growth. The company will now build its domestic infrastructure and fulfill regulatory requirements before launching services.
RingCentral (NYSE:RNG) has announced new capabilities aimed at enhancing organizational communication and collaboration. Key features include Dynamic End-to-End Encryption for secure video meetings, new integrations with popular third-party applications, and an embedded dialer for Microsoft Teams. The company aims to support organizational transformation by providing robust tools for remote work. Additionally, enhancements to the RingCentral Message Video Phone™ (MVP™) include immersive video features and a mobile HeadsUp Display (HUD) for phone capabilities. These updates reflect RingCentral's commitment to innovation and security.
RingCentral, a leader in cloud communications, reported a strong second quarter for 2021, achieving a 36% year-over-year revenue growth to $379 million. Subscriptions revenue rose 37% to $351 million, with an annualized recurring subscriptions (ARR) total of $1.5 billion. Despite a GAAP operating loss of $73 million, non-GAAP operating income increased to $39 million. The company has raised its full-year revenue guidance to a range of $1.539 to $1.545 billion. New partnerships and product enhancements further bolster its market position.
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