RingCentral, Inc. develops AI-powered business communications and customer engagement software for voice, SMS, contact center, workforce engagement management, video collaboration, and messaging. Its updates commonly cover RingCX, AI Receptionist, AIR Pro, AI Conversation Expert, branded calling, RCS messaging, international SMS, and integrations that extend customer engagement across business phone, contact center, Microsoft Teams, and partner channels.
Company news also includes quarterly results, subscription revenue trends, cash flow, share repurchases, dividends, and product adoption across industries such as healthcare, financial services, legal, hospitality, construction, and business services.
Vodafone Germany and RingCentral have launched ‘Vodafone Business UC with RingCentral’ in Germany. This integrated platform combines team messaging, video meetings, and a cloud phone system to enhance hybrid work. With capabilities like call recording and AI-driven insights, it aims to provide a secure and flexible solution for businesses. Notably, this launch integrates Vodafone's 5G and mobility strengths, enabling seamless communication across devices.
RingCentral (NYSE: RNG) has expanded its hardware ecosystem by partnering with Avocor, EPOS, and Jabra to enhance its RingCentral Rooms™ experience. This initiative aims to improve collaboration as organizations adapt to hybrid work environments, meeting the needs of 76% of companies prioritizing conference room technology upgrades. New features include Whiteboard functionality, proximity sharing, end-to-end encryption, and closed captioning, which collectively aim to foster better engagement and inclusivity in meetings.
RingCentral (NYSE: RNG) announced that Preferred Risk Insurance Services has adopted its RingCentral MVP and Contact Center solutions. This transition aims to enhance communication, allowing employees to effectively support a growing customer base while working remotely. Preferred Risk Insurance faced challenges during the pandemic due to legacy systems, which impaired customer service. The cloud-based platform will streamline operations, enabling compliance through automated call recordings and providing superior customer engagement tools moving forward.
RingCentral, Inc. (NYSE: RNG) will report its financial results for Q2 2022 on August 2, 2022, after market close. A conference call is scheduled for 2:00 PM PT on the same day to discuss the results. Investors can access the call by dialing 1-888-349-0093 or 1-412-317-5201 for international calls. Replay options will be available through August 9. RingCentral is a leading provider of cloud communications and contact center solutions, offering products like RingCentral MVP, a UCaaS platform.
RingCentral, Inc. (NYSE: RNG) has appointed Sonalee Parekh as Chief Financial Officer, effective May 31, 2022. Parekh brings over 25 years of experience from Hewlett Packard Enterprise, overseeing critical growth initiatives and corporate development. Concurrently, Mo Katibeh has been promoted to President, expanding his role to include human resources and corporate strategy. Both leaders aim to enhance RingCentral's operational capabilities and drive sustainable growth in the cloud communications sector.
RingCentral reported strong Q1 2022 results, with total revenue up 33% year-over-year to $468 million. Subscription revenue also rose 35% to $440 million, while Annualized Exit Monthly Recurring Subscriptions (ARR) grew to $1.9 billion. The company anticipates subscription revenue growth of 27% to 28% for the year, raising its guidance to $1.882 to $1.898 billion. Operating income improved to $49 million, though GAAP operating loss expanded to $104 million due to increased share-based compensation. New appointments include Sonalee Parekh as CFO and Mo Katibeh as President.
RingCentral, Inc. (NYSE: RNG) partners with SCM Insurance Services to enhance communication solutions for its mobile and hybrid workforce. Utilizing RingCentral MVP™, SCM's claims adjusters can communicate effectively during disasters, ensuring timely support for clients. The integration of RingCentral Video® provides richer interactions, with screen-sharing capabilities enhancing operational efficiency. SCM's leadership praises the flexibility of local number provisioning during crises, positioning the company to deliver personalized assistance when needed most.
RingCentral (NYSE: RNG) will announce its first-quarter financial results for the period ending March 31, 2022, after market close on May 9, 2022. A conference call will follow at 2:00 PM Pacific Time to discuss these results. Investors can access the call by dialing specific numbers or through a live webcast available on the company’s investor relations page. RingCentral, known for its cloud communications and contact center solutions, provides a unified communications platform and is headquartered in Belmont, California.
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Theta Lake, a leader in unified communication security and compliance, announced a $50 million Series B funding round led by Battery Ventures with participation from notable investors including Zoom, Salesforce Ventures, and RingCentral Ventures. This funding increases its total raised to over $70 million. The investment aims to enhance Theta Lake's technology as organizations transition to remote work, addressing compliance and security challenges. The company is recognized in the 2022 Gartner Magic Quadrant for Enterprise Information Archiving.