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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approach has made it a significant player in modernizing business communications, moving companies away from outdated, on-premises systems to efficient, cloud-based solutions.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) will be presenting at several upcoming investor conferences in May and June 2024. The company is a leading provider of AI-driven cloud business communications, contact center, video, and hybrid event solutions.
RingCentral, Inc. announced its first quarter 2024 financial results, exceeding revenue guidance with total revenue up 9% to $584 million and subscriptions revenue up 10% to $557 million. The company reported a solid performance, with a 40,000 seat deal with a Fortune 500 retailer and RingSense AI winning Best Overall Award at Enterprise Connect. The GAAP operating margin improved to (1.9%), and non-GAAP operating margin rose to 20.7%. RingCentral raised its 2024 revenue outlook and share repurchase authorization by $250 million.
RingCentral, Inc. (NYSE: RNG) announced new platform capabilities allowing users to embed AI, video, and social messaging into workflows without coding. Developers can gain insights into audio and video interactions, enhancing customer engagement. The platform offers new APIs for RingSense AI, Video SDK, and Social Messaging APIs, available to RingCentral Video Pro+™ and RingEX™ customers for free. The company also introduced RingCentral Workflow Builder for custom and automated workflows to enhance workplace efficiency and customer experiences.
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