RingCentral Stock Price, News & Analysis

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.

RingCentral achieves top ranking in analytics capabilities among UCaaS vendors according to Tolly Group's independent study. The research shows that RingCentral MVP meets 100% of criteria in 13 categories, surpassing competitors like 8x8, Microsoft Teams, and Zoom, which met the criteria in only four categories. The study highlights RingCentral's comprehensive analytics approach covering phone, video, and messaging, along with cost-effective solutions that integrate seamlessly into its platform. Users benefit from extensive QoS analytics and customizable KPIs, enhancing decision-making.

RingCentral (NYSE: RNG) announces enhanced video meeting capabilities with AI-driven features, expanding browser support for RingCentral MVP and RingCentral Video. New functionalities include AI-based meeting insights, live transcription, and participant reactions. All features are available for both free and paid users, allowing unlimited free meetings without 40-minute limits. The updates cater to the growing demand for effective hybrid work solutions, aiming to improve productivity and reduce meeting fatigue.

RingCentral (NYSE: RNG) has been recognized by Gartner as the leading provider in all four use cases in the 2021 Gartner Critical Capabilities for Unified Communications as a Service (UCaaS) report, updated on August 1, 2022. The four use cases include Midsize Enterprise, Large & Multinational Organizations, UC with Integrated Contact Center, and Mobility and Remote Working. Additionally, RingCentral has been positioned as a Leader in the 2021 Gartner Magic Quadrant for UCaaS, marking its seventh consecutive year in the Leaders Quadrant.

RingCentral (NYSE: RNG) announced its management team's presentation at the Goldman Sachs Communacopia + Technology Conference on September 12, 2022, at 10:45 a.m. PT (1:45 p.m. ET). The event aims to highlight RingCentral's role as a leader in global enterprise cloud communications, video meetings, and collaboration solutions. Investors can access the webcast on the company's investor relations website. RingCentral continues to empower modern workforces through its MVP platform, enhancing communication and collaboration.

RingCentral, Inc. (NYSE: RNG) has partnered with Big Ass Fans to enhance employee collaboration and communication. Big Ass Fans, a leading fan manufacturer, will implement RingCentral MVP™ to streamline operations for its 650 global employees. This transition from legacy systems to a cloud-based solution aims to improve productivity and mobility while delivering cost savings. The integration with existing applications like Salesforce and Google Suite is expected to elevate operational efficiency and team productivity.