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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approach has made it a significant player in modernizing business communications, moving companies away from outdated, on-premises systems to efficient, cloud-based solutions.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 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
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.
Healius Limited has selected RingCentral (NYSE: RNG) for a five-year contract to deploy an integrated UCaaS and CCaaS solution aimed at enhancing doctor and patient experiences across its pathology and diagnostic imaging practices in Australia. The project includes 500,000 toll-free calling minutes and e-fax functionality, integrating with Microsoft Teams and Salesforce.com. The system promises a telephony service level of 99.999%, ensuring reliable communication while maintaining data security.
RingCentral (NYSE: RNG) released a survey indicating that 95% of business decision-makers value voice communication for enhancing customer engagement and boosting revenue. Key findings reveal that over 90% consider phones essential, with 52% using it as their primary tool. Regardless of company size, phone usage remains prevalent, with expectations for increased adoption in the near future. Additionally, over 95% of companies utilize SMS, highlighting an ongoing emphasis on telephony in modern business.
RingCentral, Inc. (NYSE: RNG) announced plans to report its financial results for the third quarter ending September 30, 2022, after market close on November 9, 2022. A conference call will follow at 2:00 PM Pacific Time to discuss these results. Investors can join by phone or access a live webcast on the company's investor relations website. RingCentral offers cloud communications and contact center solutions, driving digital transformation for modern workforces. This report will offer insights into the company's performance and strategic direction.
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