RingCentral Stock Price, News & Analysis

RingCentral (NYSE:RNG) announced an upgrade of its MVP platform by C&S Wholesale Grocers, enhancing their communication capabilities. This upgrade provides features like integrated messaging, video meetings, and voice services, aimed at improving operational efficiency during the pandemic. C&S emphasized the importance of this upgrade for seamless communication among employees and customers, noting its ability to switch devices easily during meetings. The partnership underscores RingCentral's role in supporting modern workforce needs.

RingCentral (NYSE: RNG) has announced measures to combat the growing issue of robocalls and spam, utilizing its AI-trained data and participating in industry tracebacks. The company has implemented the STIR/SHAKEN framework to enhance call authentication, which is crucial in curbing call spoofing. With a reported 4.9 billion robocalls in March 2021 alone, RingCentral aims to protect consumer confidence in voice services. The company supports FCC efforts to eliminate such unwanted calls and promotes industry-wide collaboration for more effective results.

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RingCentral (NYSE: RNG) announced significant enhancements to RingCentral Rooms™, improving video meetings within its MVP™ platform. New features include voice-activated controls and mobile phone integration, promoting touchless experiences. Compatibility with Logitech Rally devices and Windows appliances expands accessibility. The upgrades aim to facilitate a seamless return to hybrid work, addressing safety and collaboration challenges. The partnership with Logitech enhances the hybrid meeting experience, allowing organizations to modernize workspaces efficiently and support diverse employee needs.

Avaya (NYSE:AVYA) and RingCentral (NYSE:RNG) have launched new features for the Avaya Cloud Office UCaaS solution, including enhancements for easier migration and video connectivity, along with expanded global capabilities. Cloud communications adoption has surged, with 55% of organizations expected to adopt UCaaS by 2021. Avaya Cloud Office is now available in 13 countries and has received accolades for customer satisfaction, ranking 2nd among providers. New features support hybrid working, making it simpler for organizations to transition to cloud-based communication.

RingCentral (NYSE: RNG) announced a partnership with Deutsche Telekom to enhance business communications for customers of varying sizes. This collaboration combines Deutsche Telekom's extensive network with RingCentral's robust Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions. The partnership will initially offer a co-branded version of RingCentral Video (RCV) as a standalone service, aimed at providing secure and reliable video meetings and messaging.

This initiative is part of Deutsche Telekom's strategy to support customers transitioning to cloud communication solutions.

RingCentral (NYSE: RNG) and NICE (Nasdaq: NICE) have announced a multi-year expansion of their partnership to market RingCentral Contact Center™ globally. This collaboration integrates NICE's CXone cloud contact center with RingCentral's Message Video Phone™ (MVP™) platform, enhancing customer communications.
The partnership, ongoing since 2015, serves over 1,000 joint customers across various sectors. The integration aims to improve workforce agility, reduce costs, and enhance customer satisfaction, as evidenced by data showing companies using a single provider report significantly improved revenue and customer ratings.

RingCentral (NYSE: RNG) has been ranked first in the 2021 Omdia Unified Communications as a Service (UCaaS) Scorecard for the fifth consecutive year. The company leads in market share, financial stability, and service development, with an installed base of UCaaS seats unmatched by competitors. Significant acquisitions, such as DeepAffects for video AI and Kindite for cloud security, bolster RingCentral's innovation. The company’s integrated solutions enhance collaboration, while a partnership with NICE CXone strengthens its cloud contact center offering.

RingCentral reported Q1 2021 results with a total revenue of $352 million, a 32% increase year over year. Subscriptions revenue rose 34% to $325 million, accounting for 92% of total revenue. Annualized Exit Monthly Recurring Subscriptions (ARR) reached $1.4 billion, with RingCentral Office ARR growing 40% to $1.3 billion. GAAP operating loss was ($42) million, worsening from ($25) million the previous year, while non-GAAP operating income improved to $33 million. The company raised its full-year 2021 revenue guidance to $1.500 to $1.510 billion.