Welcome to our dedicated page for RAAS news (Ticker: RAAS), a resource for investors and traders seeking the latest updates and insights on RAAS stock.
Cloopen Group Holding Limited (historically NYSE: RAAS and now quoted over-the-counter as RAASY) is a China-based, cloud-focused communications solution provider. The company’s news flow reflects both its role in the cloud communications and SaaS sector and its evolving status as a U.S.-reporting issuer.
News releases from Cloopen emphasize its business as a multi-capability cloud-based communications solution provider offering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Updates often restate the company’s mission to enhance enterprise communication experiences and operational productivity through SaaS-based tools and related tactics.
Investors following RAAS/RAASY can expect several recurring categories of news. Cloopen has issued multiple announcements about annual reports on Form 20-F filed with the U.S. Securities and Exchange Commission for fiscal years 2021, 2022, 2023, and 2024, each containing audited financial statements. These filings and related press releases provide insight into the company’s financial reporting and compliance status.
Regulatory and listing developments are another major theme. Cloopen has reported on NYSE listing compliance, including an ADS ratio change that had the effect of a reverse ADS split, subsequent confirmation of compliance with the NYSE minimum share price requirement, and later a NYSE notice commencing delisting proceedings and suspension of trading due to delayed SEC filings. The company has also described the transition of its ADSs to eligibility for trading on the over-the-counter market.
Additional news items cover corporate governance and regulatory matters, such as a settlement with the SEC related to employee misconduct and transaction irregularities, board composition changes with new and departing directors, and a preliminary non-binding proposal for a potential going private transaction submitted by a buyer group including the company’s founder and an investment fund.
By monitoring this news stream, readers can track Cloopen’s disclosures on its cloud communications business, SEC reporting, listing status, governance changes, and any proposed corporate transactions affecting RAAS/RAASY securities.
Cloopen Group Holding Limited (NYSE: RAAS) reported strong Q2 2021 results, with revenues of RMB273.9 million (US$42.4 million), up 47.9% year-over-year. Cloud-based contact center solutions surged by 105.1%, driving overall growth. Gross margin remained robust at 43.1%. However, the company recorded a net loss of RMB105.6 million (US$16.4 million), worsening from RMB62.2 million in Q2 2020. Non-GAAP net loss improved to RMB26.4 million. Active customers reached 12,976, with a dollar-based net customer retention rate of 109.6%. The outlook for Q3 2021 anticipates revenues between RMB275.0 and RMB278.0 million.
Cloopen Group Holding Limited (NYSE: RAAS) announces its intention to report unaudited financial results for Q2 2021 prior to U.S. market opening on August 11, 2021. A conference call is scheduled for the same day at 8:00 A.M. ET to discuss these results. Cloopen, a cloud-based communications provider in China, offers services including CPaaS and cloud-based contact centers, aimed at enhancing operational productivity for enterprises. Investors can access the live call and archived webcast through the company's investor relations website.
Cloopen Group Holding Limited (NYSE: RAAS) reported its Q1 2021 results, revealing RMB204.5 million (US$31.2 million) in revenue, a 54.4% increase year-over-year. Revenue from cloud-based contact center solutions surged by 63.4%.
However, the company experienced a net loss of RMB171.0 million (US$26.1 million), up from RMB47.7 million last year. Adjusted EBITDA loss rose to RMB59.8 million (US$9.1 million). Looking ahead, Cloopen expects Q2 revenues between RMB255.0 million and RMB260.0 million, indicating 37.6% to 40.3% year-over-year growth.
Cloopen Group Holding Limited (NYSE: RAAS) will announce its unaudited financial results for Q1 2021 on June 10, 2021, before the U.S. market opens. A conference call is scheduled for the same day at 8:00 A.M. ET. The call will allow investors to discuss the results and access the replay until June 17, 2021. Cloopen is a leading cloud-based communications solution provider in China, offering services including CPaaS, cloud-based contact centers, and UC&C solutions aimed at enhancing enterprise communication and productivity.
Cloopen Group Holding Limited (NYSE: RAAS) filed its annual report on Form 20-F, including audited financial statements for the year ended December 31, 2020, with the SEC on May 10, 2021. The report is accessible on Cloopen's investor relations website and the SEC's website. The company, a leading cloud-based communications provider in China, aims to enhance communication experiences and operational productivity for enterprises through innovative SaaS tools.
Cloopen Group Holding Limited (NYSE: RAAS) reported its financial results for Q4 2020, revealing revenues of RMB258.7 million (US$39.6 million), up 15.5% year-over-year, primarily driven by a 74.0% increase in cloud-based contact center solutions. However, the company experienced a significant net loss of RMB305.4 million (US$46.8 million), a 466.9% increase YoY. For FY 2020, revenues were RMB767.7 million (US$117.7 million), an 18.1% increase, with a net loss of RMB509.1 million (US$78.0 million), marking a 177.5% annual rise in losses. The company also provided positive guidance for Q1 2021, expecting revenues between RMB192.0 million and RMB197.0 million.
Cloopen Group Holding Limited (NYSE: RAAS), a leading cloud-based communications provider in China, will release its unaudited financial results for Q4 and the full year 2020 on March 26, 2021. A conference call will follow at 8:00 A.M. ET to discuss these results. The company aims to enhance communication experiences and operational productivity for enterprises through innovative cloud solutions. Investors can access the call and a replay through designated numbers and the company’s investor relations website.
Cloopen Group Holding Limited (NYSE: RAAS) announced an acquisition of EliteCRM, a top CRM software provider in China, aiming to strengthen its cloud communication solutions. The deal involves issuing restricted shares to EliteCRM management, representing less than 1% of Cloopen's outstanding shares, with a vesting period of two years. This acquisition is expected to enhance Cloopen's capabilities in integrated cloud-based contact center solutions, reflecting its commitment to driving digital transformation in enterprise management. However, completion is subject to closing conditions, introducing potential uncertainty.
Cloopen Group Holding Limited (NYSE: RAAS) announced the pricing of its initial public offering of 20,000,000 American depositary shares (ADSs) at US$16.00 each, totaling US$320.0 million. The offering, set to close on February 11, 2021, assumes no additional purchases by underwriters. They have the option to buy an additional 3,000,000 ADSs within 30 days. Goldman Sachs, Citigroup, and China International Capital Corporation are the joint bookrunners. This offering aims to enhance the Company's capital base as it continues to provide cloud-based communication solutions in China.