RingCentral, Inc.

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Description

RingCentral Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. Total sales increased 11% in the quarter, exceeding the upper end of its target range. ARR increased by 12%. Operating profit margins grew 8 percentage points from the prior year to 19.4%. This improvement reflects the leverage in the company’s methodology and its budgetary restraint. The profit increase also resulted in another quarter of significant free cash flow. Revenue from subscriptions increased 11% year over year to $514 million. A crucial growth factor was strength in important industrial sectors whose products are mission-critical, like professional and financial services, healthcare, retail, and the public sector. Additionally, contact center ARR increased from about $300 million at the end of 2022 to almost $330 million. The persistent client need for a top integrated UCaaS + CCaaS solution drives significant momentum in contact centers. Their most recent competitive victory over Republic Airways, one of the biggest regional airlines in the United States, illustrates the strength of their platform. In the quarter, they announced the acquisition of specific assets from Hopin, a prominent technology provider for engaging online audiences. This transaction encompasses Hopin’s notable Events platform and Session product.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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