RingCentral Press Releases

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Articles archive: 2021

February 24, 2021

RingCentral Introduces Direct Calls from Salesforce

London, UK — 24 February, 2021 RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration and contact centre solutions, today announced the release of in-app calling for Salesforce. The new feature enables sales agents to make, transfer and control phone calls directly from Salesforce, resulting in increased productivity and efficiency and empowering sales agents to drive improved customer engagement. 

With in-app calling, sales associates can easily control and manage all customer calls without ever leaving their browser. Users can select their preferred caller ID number, organise multiple calls as separate tabs on the browser and manage incoming and outgoing calls across devices without having to download any additional software.

“Today’s modern workforce needs the ability to communicate from anywhere using their preferred channels of choice in order to stay connected and efficient,” said Will Moxley, chief product officer at RingCentral. “Our in-app calling for Salesforce brings the capabilities of RingCentral to customer phone conversations directly within a browser, eliminating the need to switch between different apps. Our integration with Salesforce builds on our vision of providing an open platform, where users are empowered to access RingCentral’s cloud-based communications capabilities from within their applications of choice for optimal productivity across their organisation.” 

The capabilities are built with WebRTC technology and are the latest advancements in the growing list of features of the RingCentral for Salesforce integration that now includes: 

  • In-app calling: Now using WebRTC technology, users can leverage RingCentral calling capabilities like call controls, inbound and outbound calls without ever navigating away from Salesforce. Users can also switch active calls between different RingCentral endpoints.

  • High Velocity Sales (HVS): By powering the telephony side of a sales cadence, sales reps have the ability to “click-to-call” right from their work queue for added convenience.

  • Intelligent performance reporting: Users can view a complete dashboard of a team’s performance. Now, users can edit and customise the RingCentral Analytics data as a native Salesforce report through RingCentral’s Cloud Phone Report.

  • Click-to-call: Users can place calls from within Salesforce by clicking on any phone number, saving time and improving call efficiency.

  • Instant screen pop-up: Incoming calls trigger screen pop ups with a 360° view of the caller, enabling quality interactions.

  • Call logs: With advanced features such as offline call logging and multi-call log option, agents can address their most important tasks first.

  • Effortless meeting scheduling: Seamlessly schedule RingCentral Video meetings from Salesforce.

  • Integration with the Salesforce app: Reach out to customers on the fly by calling or texting right from Account, Contact, or Lead tabs.

  • Work-from-anywhere access: Connect on both Windows® and Mac® devices, using any popular browser.

  • Interface flexibility: Users can work the way they prefer, in Salesforce Classic or Salesforce Lightning UI.

Sales teams are using RingCentral for Salesforce to improve business continuity, automate tedious tasks and easily access call history information needed to deliver personalised customer experiences. RingCentral customer Buffalo Americas is a global provider of networking, storage and multimedia solutions for the home and small business environments as well as for system builders and integrators. With in-app calling for Salesforce, Buffalo Americas has been able to easily train their remote sales teams to call customers directly from within their Salesforce browser for fast and efficient call management.

“RingCentral for Salesforce has made our salesforce more productive and is incredibly simple to deploy and use,” said Ben DeLaurier, Director of Customer Support, Buffalo Americas. “In-app calling allows all of my Salesforce users to have full calling capabilities right from within the RingCentral for Salesforce app. In addition, training users has become simpler and faster. This has been a great help with all of my users, especially in light of a now-distributed workforce.”

The new in-app calling feature is available now as part of RingCentral for Salesforce on the Salesforce AppExchange. To learn more about this new feature, read our blog, RingCentral for Salesforce: leveraging WebRTC for in-app calling

About RingCentral 
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact centre solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate and connect via any mode, any device and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings and a cloud phone system; Glip ®  the company's free video meetings solution with team messaging that enables Smart Video Meetings™; and RingCentral cloud Contact Centre  solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customise business workflows. RingCentral is headquartered in Belmont, California and has offices around the world.

©  2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, MVP, RingCentral Office, Glip, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

 

February 16, 2021

RingCentral Announces Fourth Quarter 2020 Results

RingCentral Office® ARR up 39% to $1.2 billion

Subscriptions Revenue up 34%

London, UK -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter Financial Highlights

  • Total revenue increased 32% year over year to $335 million.
  • Subscriptions revenue increased 34% year over year to over $306 million.
  • Annualized Exit Monthly Recurring Subscriptions (ARR) increased 35% year over year to $1.3 billion.
  • RingCentral Office® ARR increased 39% year over year to $1.2 billion.
  • Mid-market and Enterprise ARR increased 49% year over year to $713 million.
  • Enterprise ARR increased 55% year over year to $454 million.
  • Channel ARR increased 55% year over year to $465 million.
  • TCV deals over $1 million were a new record, up over 50% sequentially, including two over $10 million.

“Fourth quarter was outstanding, driven by robust growth across the business with strong contributions from the channel and our key partners led by Avaya, AT&T, and Atos,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “We are also excited to add Vodafone Business as a key partner as we continue to expand our global distribution network to meet the rising worldwide demand for cloud-based communication solutions. We believe RingCentral is uniquely positioned to address business communication needs in the new work from anywhere environment with a well-differentiated Message Video Phone™ (MVP™) cloud solution. With the recent addition of our Smart Video Meetings solution, RingCentral Glip™, we can now address our customers’ needs even better to communicate via any mode, on any device, anywhere as they continue on their digital transformation journey.”

Financial Results for the Fourth Quarter 2020

  • Revenue: Subscriptions revenue of over $306 million increased 34% year over year and accounted for 92% of total revenue. Other revenue of $28 million increased 20% year over year, reflecting higher adoption of RingCentral apps in the current work from anywhere environment. Total revenue was $335 million for the fourth quarter of 2020, up from $253 million in the fourth quarter of 2019, representing 32% growth.
  • Operating Income (Loss): GAAP operating loss was ($29) million, compared to a GAAP operating loss of ($20) million in the same period last year, primarily driven by higher share-based compensation and amortization of acquisition intangibles, partially offset by lower costs for acquisition related matters. Non-GAAP operating income was $34 million, compared to a non-GAAP operating income of $24 million in the same period last year.
  • Net Income (Loss) Per Share: GAAP net loss per share was ($0.02), compared to ($0.30) in the same period last year. The lower loss was primarily driven by higher mark-to-market gains associated with investments and strategic partnerships and lower costs for acquisition related matters, partially offset by higher share-based compensation, amortization of acquisition intangibles, and amortization of debt discount and issuance costs. Non-GAAP net income per diluted share was $0.29, compared to $0.22 per diluted share in the same period last year. The fourth quarters of 2020 and 2019 reflected a 22.5% non-GAAP tax rate. There were no material cashtaxes given our net operating loss carryforwards.
  • Cash and Cash Equivalents: Total cash and cash equivalents at the end of the fourth quarter of 2020 was $640 million, which reflects a one-time payment related to a recent strategic partnership, as well as $69 million cash paid for partial repurchase of our 2023 convertible senior notes. This compares to $746 million at the end of the third quarter of 2020.

Financial Results for the Full Year 2020

  • Revenue: Subscriptions revenue of $1.1 billion increased 33% and accounted for 92% of total revenue. Other revenue of $97 million increased 15%, reflecting higher adoption of RingCentral apps in the current work from anywhere environment. Total revenue was $1.2 billion, up from $903 million in 2019, representing 31% growth.
  • Operating Income (Loss): GAAP operating loss was ($113) million, compared to a GAAP operating loss of ($46) million in 2019, primarily driven by higher share-based compensation and amortization of acquisition intangibles, partially offset by lower costs for acquisition related matters. Non-GAAP operating income was $115 million, compared to a non-GAAP operating income of $83 million in 2019.
  • Net Income (Loss) Per Share: GAAP net loss per share was ($0.94), compared to ($0.64) in 2019, primarily driven by higher share-based compensation, amortization of acquisition intangibles, and amortization of debt discount and issuance costs, partially offset by higher mark-to-market gains associated with investments and strategic partnerships and lower costs for acquisition related matters. Non-GAAP net income per diluted share was $0.98, compared to $0.82 in 2019. 2020 and 2019 reflected a 22.5% non-GAAP tax rate. There were no material cashtaxes given our net operating loss carryforwards.

Additional Highlights

Platform

  • Launched RingCentral Glip™, a free, unlimited, easy-to-use solution that offers high quality and high-availability video and audio conferencing, seamlessly integrated with team messaging, file sharing, contact, task, and calendar management - resulting in a Smart Video Meetings™ experience. It includes innovative pre-meeting, in-meeting, and post-meeting capabilities - all for free. Glip® video meetings last up to 24-hours for up to 100 people, and provide a completely integrated team collaboration capability.
  • Announced acquisition of certain technology assets of DeepAffects, a leading conversational intelligence pioneer that uses artificial intelligence (AI) to analyze business conversations and extract meaningful insights. DeepAffects brings powerful AI capabilities that will enable RingCentral to deliver enhanced pre-meeting, in-meeting and post-meeting experiences for customers.
  • Announced new innovations including RingCentral Embeddable™ for RingCentral Video™, enabling developers to quickly integrate video meeting capabilities such as scheduling, joining, and hosting directly from their custom enterprise workflows. Also announced a Call Supervision, Monitoring, and Streaming API, enabling developers to add real-time transcription of a call or use Natural Language Processing and Artificial Intelligence.
  • RingCentral UK announced that the company has secured the United Kingdom National Cyber Security Centre’s (NCSC) Cyber Essentials Plus certification. The Cyber Essentials Plus certification demonstrates robust practice across operational processes and resilient cyber defenses.
  • Announced that RingCentral Office® has achieved three internationally recognized ISO certifications including ISO 27001, ISO 27017, and ISO 27018 for information security best practices. With these third-party certifications in place, RingCentral meets a stringent set of requirements around security and privacy.

Partnerships

  • Announced a strategic partnership with Vodafone Business to deliver new cloud-based communications services. Together the companies will create a new co-branded, cloud-based service that will be the lead UCaaS solution for Vodafone Business, and also offer Contact Center as a Service (CCaaS) to Vodafone Business customers.
  • In partnership with Avaya, announced that Avaya Cloud Office™ by RingCentral® is expanding availability to five of the largest economies in Europe - Austria, Belgium, Germany, Italy, and Spain.
  • Announced that Atos SE is deploying Unify Office by RingCentral to over 30,000 workers in over 20 countries. Unify Office by RingCentral will be integrated by direct routing into Atos’ Microsoft Teams digital workplace environment providing a seamless single pane of glass for communications both internally and externally.
  • In partnership with Atos SE, launched Unify Office by RingCentral in the United StatesUnited Kingdom, and Australia.
  • Announced an expansion of the partnership between RingCentral and TELUS to serve broader sizes of businesses. The two companies will work together to now enable Canadian small businesses to easily transition their legacy phone systems to the cloud via TELUS Business Connect, an all-in-one communications solution for message, video, and phone.
  • Announced that Horizon Telecom, a leading carrier-neutral provider of communication and connectivity for global enterprises, will offer RingCentral Office® to large-scale multinational enterprises around the world.
  • Announced a new partnership between RingCentral and Stack8. The partnership will enable Stack8 to offer RingCentral’s Unified Communications as a Service platform to their large enterprise customers around the world. Additionally, Stack8 will provide RingCentral Office® and an international cloud phone system to all customers.

People

  • Announced that Mignon Clyburn has been appointed to the company’s board of directors. Clyburn served as a Commissioner of the U.S. Federal Communications Commission from 2009 to 2018, including as acting chair. Prior to her federal appointment, Clyburn served 11 years on the Public Service Commission of South Carolina and worked for nearly 15 years as publisher of the Coastal Times, a Charleston weekly newspaper focused on the African American community.
  • Announced that Nat Natarajan has joined the company as its Executive Vice President of Products and Engineering. Natarajan brings more than 20 years of experience as a global operations, product, technology, and organizational leader. Natarajan joins from Ancestry where he was Chief Product Officer and Chief Technology Officer. Prior to Ancestry, Natarajan was Senior Vice President, Chief Product and Technology Officer for Intuit’s TurboTax, and also Chief Information Security and Fraud Officer.
  • Announced that Jaya Kumar has joined the company as its Chief Marketing Officer (CMO). Kumar brings more than 25 years of experience with multiple Fortune 100 companies including PepsiCo and Kraft Foods/Mondelez where he held both president and CMO positions. Most recently he was Global CMO at Capital Group, the world’s largest fund manager with over $2.2 trillion in assets under management.
  • Announced that Matthew Bishop has been appointed as Chief Digital Officer. Bishop spent over 18 years at Microsoft, most recently as Corporate Vice President of Commercial Strategy and Operations of Microsoft’s Worldwide Commercial Business. He joined RingCentral from Core Scientific, where he served as Chief Administrative Officer after leaving Microsoft.
  • Announced that Heather Hinton has joined RingCentral as the company’s Chief Information Security Officer (CISO). Hinton joins RingCentral from IBM, where she spent 13 years in various leadership positions, most recently as vice president and IBM distinguished engineer, and CISO for the company’s Cloud and Cognitive Software business unit.

Recognition

  • Announced that Gartner has recognized RingCentral as a Leader in the 2020 Magic Quadrant for Unified Communications as a Service, Worldwide report.* In the Magic Quadrant report, published on November 11, 2020, RingCentral was positioned furthest for completeness of vision in the Leaders quadrant. This is RingCentral’s sixth year in a row being named to the Leaders quadrant.
  • Announced that RingCentral has received the highest scores in every use case among 14 total vendors in the 2020 Gartner Critical Capabilities for Unified Communications as a Service (UCaaS), Worldwide report.* In the report, Gartner evaluated UCaaS vendors across the following five identified use cases: Mobility and Remote Working, Integrated Contact Center, Midsize Enterprise, Multinational Organization, and Large Enterprise.
  • Announced that RingCentral ranked first and highest for growth in the 2020 Frost Radar™ UCaaS Market Report from Frost & Sullivan for the second year in a row. RingCentral was also ranked as the number one market share leader in a separate report issued by Frost & Sullivan focused on growth opportunities in the UCaaS market.
  • Announced that RingCentral’s executive and investor relations leadership were named to Institutional Investor’s prestigious 2021 All-America Executive Team. For the second consecutive year, the team achieved the ‘Most Honored’ company distinction and ranked in the top three positions across all categories in the software sector of CEO, CFO, and Investor Relations.

Financial Outlook

Full Year 2021 Guidance:

  • Total revenue range of $1.475 to $1.490 billion, representing annual growth of 25% to 26%.
  • Subscriptions revenue range of $1.365 to $1.375 billion, representing annual growth of 26% to 27%.
  • GAAP operating margin range of (21.7%) to (20.4%).
  • Non-GAAP operating margin range of 10.0% to 10.1%.
  • Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
  • Non-GAAP EPS range of $1.20 to $1.24 based on 94.0 to 94.5 million fully diluted shares.
  • Share-based compensation range of $410 to $420 million, amortization of debt discount and issuance costs of $65 million, and amortization of acquisition intangibles range of $45 to $48 million.

First Quarter 2021 Guidance:

  • Total revenue range of $337 to $340 million, representing annual growth of 26% to 27%.
  • Subscriptions revenue range of $311.5 to $313.5 million, representing annual growth of 28% to 29%.
  • GAAP operating margin range of (15.1%) to (13.8%).
  • Non-GAAP operating margin range of 8.6% to 8.8%.
  • Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
  • Non-GAAP EPS range of $0.24 to $0.25 based on 93.5 million fully diluted shares.
  • Share-based compensation range of $66 to $68 million, amortization of debt discount and issuance costs of $16 million, and amortization of acquisition intangibles range of $11 to $12 million.

For a reconciliation of our forecasted non-GAAP operating margin, see “Reconciliation of Forecasted Operating Margin GAAP Measures to Non-GAAP Measures.” We have not reconciled our forecasted non-GAAP EPS to its respective forecasted GAAP measure because we do not provide guidance on it. We do not provide guidance on forecasted GAAP EPS because of the inherent uncertainty and complexity involved in forecasting the intercompany remeasurement gain (loss), gain (loss) associated with investments and strategic partnerships, gain (loss) on early debt conversions, and provision (benefit) from income taxes, which could be significant reconciling items between the non-GAAP and respective GAAP measures. The intercompany remeasurement gain (loss) is affected by the movement in various exchange rates relative to the U.S. Dollar, which is difficult to predict and subject to constant change. We do not provide guidance on gain (loss) associated with investments and strategic partnerships as it is based on future share prices, which are difficult to predict and subject to inherent uncertainties. We do not provide guidance on gain (loss) on debt early conversions as it is based on future conversion requests, future share prices, and interest rates, which are difficult to predict and are subject to inherent uncertainties. We do not provide guidance on forecasted GAAP tax rates as we do not forecast discrete tax items as they are difficult to predict. The provision (benefit) from income taxes, excluding discrete items, is expected to have an immaterial impact to our GAAP EPS. We utilized a projected long-term tax rate in our computation of the non-GAAP income tax provision. For fiscal 2021, we have determined the projected non-GAAP tax rate to be 22.5%. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort.

Conference Call Details:

  • What: RingCentral financial results for the fourth quarter of 2020 and outlook for the first quarter and full year of 2021.
  • When: February 16, 2021 at 2:00PM PT (5:00PM ET).
  • Dial-in: To access the call in the United States, please dial (877) 705-6003, and for international callers, dial (201) 493-6725. Callers are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.
  • Webcast: http://ir.ringcentral.com/ (live and replay).
  • Replay: Following the completion of the call through 11:59 PM ET on February 23, 2021, a telephone replay will be available by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally with recording access code 13715059.

Investor Presentation Details

An investor presentation providing additional information and analysis can be found at http://ir.ringcentral.com/.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip®  the company’s free video meetings solution with team messaging that enables Smart Video Meetings™, and RingCentral cloud Contact Center solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

Forward-Looking Statements

This press release contains “forward-looking statements,” including but not limited to, statements regarding our future financial results, our GAAP and non-GAAP guidance, our momentum in mid-market and enterprise, contributions from channel partners, the success of our Glip solution, the success of our strategic relationships, such as our relationships with Vodafone Business, Avaya, Atos SE, TELUS, Horizon Telecom, and Stack8, our ability to expand and deepen our global distribution network, our market opportunity, our ability to address business communication needs in the new work from anywhere environment, and the effects of the COVID-19 pandemic. Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are: the future effects of the COVID-19 pandemic, our ability to realize the anticipated benefits of our strategic relationships, such as our relationships with Vodafone Business, Avaya, Atos SE, TELUS, Horizon Telecom, and Stack8; our ability to grow at our expected rate of growth; our ability to add and retain larger and enterprise customers and enter new geographies and markets; our ability to continue to release, and gain customer acceptance of, new and improved versions of our services, including Glip and RingCentral Video; our ability to compete successfully against existing and new competitors; our ability to enter into and maintain relationships with resellers, carriers, channel partners and strategic partners; our ability to successfully and timely integrate, and realize the benefits of any significant acquisition we may make; our ability to manage our expenses and growth; and general market, political, economic, and business conditions, as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Form 10-Q for the quarter ended September 30, 2020, filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time.

All forward-looking statements in this press release are based on information available to RingCentral as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current financial quarter.

Non-GAAP Financial Measures

Our reported financial results and financial outlook include certain Non-GAAP financial measures, including Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP income (loss) from operations, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP net cash provided by (used in) operating activities, and non-GAAP free cash flow. Non-GAAP subscriptions gross margin is defined as Non-GAAP subscriptions gross profit divided by GAAP subscriptions revenue. Non-GAAP other gross margin is defined as Non-GAAP other gross profit divided by GAAP other revenue. Non-GAAP income (loss) from operations is defined as GAAP income (loss) from operations excluding share-based compensation, amortization of acquisition intangibles, and acquisition related matters including transaction costs, integration costs, restructuring costs, and acquisition-related retention payments, as well as changes in the fair value of contingent consideration obligations. Non-GAAP operating margin is defined as Non-GAAP income (loss) from operations divided by total GAAP revenue. Non-GAAP net income (loss) is defined as GAAP net income (loss) excluding share-based compensation, intercompany remeasurement gains or losses, acquisition related matters, amortization of acquisition intangibles, non-cash interest expense associated with amortization of debt discount and issuance costs related to our convertible senior notes, gain (loss) associated with investments and strategic partnerships, loss on early extinguishment of debt, tax benefit from release of valuation allowance, and the related income tax effect of these adjustments.

Non-GAAP diluted shares outstanding include the impact on shares used in per share calculations of our outstanding capped call transactions. Our outstanding capped call transactions are anti-dilutive in GAAP earnings per share but are expected to mitigate the dilutive effect of our convertible notes and therefore are included in the calculations of non-GAAP diluted shares outstanding.

Non-GAAP net cash provided by (used in) operating activities is defined as net cash provided by (used in) operating activities plus cash paid for repayments of convertible senior notes attributable to debt discount and cash paid for strategic partnerships. Non-GAAP free cash flow is defined as Non-GAAP net cash provided by (used in) operating activities reduced by purchases of property and equipment and capitalized internal-use software. We believe information regarding free cash flow provides useful information to investors in understanding and evaluating the strength of liquidity and available cash.

We have included Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP net cash provided by (used in) operating activities, and Non-GAAP free cash flow in this press release because they are key measures used by us to understand and evaluate our operating performance and trends, to prepare and approve our annual budget, and to develop short and long-term operational plans. In particular, the exclusion of certain expenses and cash flow items in calculating Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP net cash provided by (used in) operating activities, and Non-GAAP free cash flow provide useful measure for period-to-period comparisons of our business.

Although Non-GAAP subscriptions gross margin, Non-GAAP other gross margin, Non-GAAP operating margin, Non-GAAP net income (loss), Non-GAAP net income (loss) per diluted share, Non-GAAP net cash provided by (used in) operating activities, and Non-GAAP free cash flow are frequently used by investors in their evaluations of companies, these non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Because of these limitations, these non-GAAP financial measures should be considered alongside other financial performance measures.

Reconciliations of the Company’s non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release.

Other Measures

Our reported results also include our annualized exit monthly recurring subscriptions, RingCentral Office® annualized exit monthly recurring subscriptions, mid-market and enterprise annualized exit monthly recurring subscriptions, enterprise annualized exit monthly recurring subscriptions, channel partner annualized exit monthly recurring subscriptions, and net monthly subscriptions dollar retention. We define our annualized exit monthly recurring subscriptions as our monthly recurring subscriptions multiplied by 12. Our monthly recurring subscriptions equal the monthly value of all customer recurring charges contracted at the end of a given month. We believe this metric is a leading indicator of our anticipated subscriptions revenue. We calculate our RingCentral Office® annualized exit monthly recurring subscriptions in the same manner as we calculate our annualized exit monthly recurring subscriptions, except that only customer subscriptions from RingCentral Office® and RingCentral customer engagement solutions customers are included when determining monthly recurring subscriptions for the purposes of calculating this key business metric. We calculate mid-market and enterprise annualized exit monthly recurring subscriptions in the same manner as we calculate our RingCentral Office® annualized exit monthly recurring subscriptions, except that only customer subscriptions from customers generating $25,000 or more in annual recurring revenue are included. We calculate enterprise annualized exit monthly recurring subscriptions in the same manner as we calculate our RingCentral Office® annualized exit monthly recurring subscriptions, except that only customer subscriptions from customers generating $100,000 or more in annual recurring revenue are included. We calculate channel partner annualized exit monthly recurring subscriptions in the same manner as we calculate our annualized exit monthly revenue subscriptions, except that only customer subscriptions generated from channel partners are included. We define Dollar Net Change as the quotient of (i) the difference of our Monthly Recurring Subscriptions at the end of a period minus our Monthly Recurring Subscriptions at the beginning of a period minus our Monthly Recurring Subscriptions at the end of the period from new customers we added during the period, (ii) all divided by the number of months in the period. We define our Average Monthly Recurring Subscriptions as the average of the Monthly Recurring Subscriptions at the beginning and end of the measurement period.

*Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner, Inc., “Critical Capabilities for Unified Communications as a Service, Worldwide” Christopher Trueman, Megan Fernandez, Daniel O’Connell, Rafael Benitez, Pankil Sheth, November 17, 2020.

Gartner, Inc., “Magic Quadrant for Unified Communications as a Service, Worldwide,” Rafael Benitez, Megan Fernandez, Daniel O’Connell, Christopher Trueman, Pankil Sheth, November 11, 2020.

TABLE 1

RINGCENTRAL, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands)

       

 

December 31, 2020

 

December 31, 2019

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

639,853

 

 

$

343,606

 

Accounts receivable, net

176,034

 

 

129,990

 

Deferred and prepaid sales commission costs

63,726

 

 

36,589

 

Prepaid expenses and other current assets

46,516

 

 

25,354

 

Total current assets

926,129

 

 

535,539

 

Property and equipment, net

142,208

 

 

89,230

 

Operating lease right-of-use assets

51,115

 

 

39,269

 

Long-term investments

213,176

 

 

132,188

 

Deferred and prepaid sales commission costs, non-current

667,779

 

 

462,344

 

Goodwill

57,313

 

 

55,278

 

Acquired intangibles, net

118,313

 

 

127,338

 

Other assets

8,564

 

 

9,561

 

Total assets

$

2,184,597

 

 

$

1,450,747

 

Liabilities, Temporary Equity, and Stockholders’ Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

54,043

 

 

$

34,612

 

Accrued liabilities

210,654

 

 

138,729

 

Current portion of convertible senior notes, net

31,148

 

 

 

Deferred revenue

142,223

 

 

107,372

 

Total current liabilities

438,068

 

 

280,713

 

Convertible senior notes, net

1,375,320

 

 

386,889

 

Operating lease liabilities

38,722

 

 

28,516

 

Other long-term liabilities

20,241

 

 

8,929

 

Total liabilities

1,872,351

 

 

705,047

 

 

 

 

 

Temporary equity

3,787

 

 

 

 

 

 

 

Stockholders’ equity

 

 

 

Common stock

9

 

 

9

 

Additional paid-in capital

673,950

 

 

1,033,053

 

Accumulated other comprehensive income

6,806

 

 

1,948

 

Accumulated deficit

(372,306

)

 

(289,310

)

Total stockholders’ equity

$

308,459

 

 

$

745,700

 

Total liabilities, temporary equity and stockholders’ equity

$

2,184,597

 

 

$

1,450,747

 

TABLE 2

RINGCENTRAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands, except per share data)

       

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2020

 

2019

 

2020

 

2019

Revenues

 

 

 

 

 

 

 

Subscriptions

$

306,495

 

 

$

229,405

 

 

$

1,086,276

 

 

$

817,811

 

Other

28,041

 

 

23,460

 

 

97,381

 

 

85,047

 

Total revenues

334,536

 

 

252,865

 

 

1,183,657

 

 

902,858

 

Cost of revenues

 

 

 

 

 

 

 

Subscriptions

67,305

 

 

45,977

 

 

236,990

 

 

160,320

 

Other

23,907

 

 

20,896

 

 

86,617

 

 

70,723

 

Total cost of revenues

91,212

 

 

66,873

 

 

323,607

 

 

231,043

 

Gross profit

243,324

 

 

185,992

 

 

860,050

 

 

671,815

 

Operating expenses

 

 

 

 

 

 

 

Research and development

56,574

 

 

38,658

 

 

189,484

 

 

136,363

 

Sales and marketing

161,842

 

 

126,077

 

 

583,773

 

 

439,100

 

General and administrative

53,651

 

 

41,626

 

 

200,032

 

 

142,027

 

Total operating expenses

272,067

 

 

206,361

 

 

973,289

 

 

717,490

 

Loss from operations

(28,743

)

 

(20,369

)

 

(113,239

)

 

(45,675

)

Other income (expense), net

 

 

 

 

 

 

 

Interest expense

(16,501

)

 

(5,232

)

 

(49,281

)

 

(20,512

)

Other income, net

43,548

 

 

129

 

 

80,458

 

 

9,247

 

Other income (expense), net

27,047

 

 

(5,103

)

 

31,177

 

 

(11,265

)

Loss before income taxes

(1,696

)

 

(25,472

)

 

(82,062

)

 

(56,940

)

Provision for (benefit from) income taxes

131

 

 

(215

)

 

934

 

 

(3,333

)

Net loss

$

(1,827

)

 

$

(25,257

)

 

$

(82,996

)

 

$

(53,607

)

Net loss per common share

 

 

 

 

 

 

 

Basic and diluted

$

(0.02

)

 

$

(0.30

)

 

$

(0.94

)

 

$

(0.64

)

Weighted-average number of shares used in computing net loss per share

 

 

 

 

 

 

 

Basic and diluted

89,951

 

 

85,449

 

 

88,684

 

 

83,130

 

TABLE 3

RINGCENTRAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in thousands)

   

 

Year Ended December 31,

 

2020

 

2019

Cash flows from operating activities

 

 

 

Net loss

$

(82,996

)

 

$

(53,607

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

 

 

 

Depreciation and amortization

75,612

 

 

37,870

 

Share-based compensation

189,600

 

 

101,354

 

Amortization of deferred and prepaid sales commission costs

47,207

 

 

30,134

 

Amortization of debt discount and issuance costs

49,031

 

 

20,337

 

Loss on early extinguishment of debt

13,284

 

 

 

Repayment of convertible senior notes attributable to debt discount

(35,020

)

 

 

Reduction of operating lease right-of-use assets

15,712

 

 

13,256

 

Unrealized gain and other related costs on investments

(80,988

)

 

3,369

 

Foreign currency remeasurement (gain) loss

(2,954

)

 

(105

)

Provision for bad debt

5,936

 

 

2,949

 

Deferred income taxes

(499

)

 

(737

)

Tax benefit from release of valuation allowance

 

 

(3,210

)

Other

512

 

 

240

 

Changes in assets and liabilities:

 

 

 

Accounts receivable

(51,980

)

 

(37,163

)

Deferred and prepaid sales commission costs

(274,908

)

 

(102,303

)

Prepaid expenses and other current assets

(20,878

)

 

(1,575

)

Other assets

266

 

 

764

 

Accounts payable

21,916

 

 

21,753

 

Accrued liabilities

62,451

 

 

27,095

 

Deferred revenue

34,851

 

 

18,845

 

Operating lease liabilities

(15,362

)

 

(13,830

)

Other liabilities

14,016

 

 

(590

)

Net cash (used in) provided by operating activities

(35,191

)

 

64,846

 

Cash flows from investing activities

 

 

 

Purchases of property and equipment

(43,618

)

 

(27,767

)

Capitalized internal-use software

(38,113

)

 

(16,526

)

Cash paid for business combination, net of cash acquired

 

 

(27,870

)

Purchases of long-term investments

 

 

(135,557

)

Cash paid for acquisition of intangible assets

(25,955

)

 

(89,060

)

Net cash used in investing activities

(107,686

)

 

(296,780

)

Cash flows from financing activities

 

 

 

Proceeds from issuance of convertible senior notes, net of issuance costs

1,627,177

 

 

 

Payments for 2023 convertible senior notes partial repurchase

(1,086,268

)

 

 

Payments for capped calls and transaction costs

(102,695

)

 

 

Proceeds from issuance of stock in connection with stock plans

41,230

 

 

29,827

 

Payments for taxes related to net share settlement of equity awards

(36,717

)

 

(14,666

)

Payment for contingent consideration for business acquisition

(3,648

)

 

(5,176

)

Repayment of financing obligations

(1,489

)

 

(943

)

Net cash provided by financing activities

437,590

 

 

9,042

 

Effect of exchange rate changes

1,534

 

 

169

 

Net increase (decrease) in cash, cash equivalents, and restricted cash

296,247

 

 

(222,723

)

Cash, cash equivalents, and restricted cash

 

 

 

Beginning of year

343,606

 

 

566,329

 

End of year

$

639,853

 

 

$

343,606

 

TABLE 4

RINGCENTRAL, INC.

RECONCILIATION OF OPERATING INCOME (LOSS)

GAAP MEASURES TO NON-GAAP MEASURES

(Unaudited, in thousands)

       

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2020

 

2019

 

2020

 

2019

Revenues

 

 

 

 

 

 

 

Subscriptions

$

306,495

 

 

$

229,405

 

 

$

1,086,276

 

 

$

817,811

 

Other

28,041

 

 

23,460

 

 

97,381

 

 

85,047

 

Total revenues

334,536

 

 

252,865

 

 

1,183,657

 

 

902,858

 

Cost of revenues reconciliation

 

 

 

 

 

 

 

GAAP Subscriptions cost of revenues

67,305

 

 

45,977

 

 

236,990

 

 

160,320

 

Share-based compensation

(2,831

)

 

(2,095

)

 

(10,454

)

 

(6,891

)

Amortization of acquisition intangibles

(9,105

)

 

(3,310

)

 

(32,055

)

 

(6,998

)

Acquisition related matters

 

 

(81

)

 

 

 

(145

)

Non-GAAP Subscriptions cost of revenues

55,369

 

 

40,491

 

 

194,481

 

 

146,286

 

 

 

 

 

 

 

 

 

GAAP Other cost of revenues

23,907

 

 

20,896

 

 

86,617

 

 

70,723

 

Share-based compensation

(1,025

)

 

(534

)

 

(3,821

)

 

(1,850

)

Non-GAAP Other cost of revenues

22,882

 

 

20,362

 

 

82,796

 

 

68,873

 

Gross profit and gross margin reconciliation

 

 

 

 

 

 

 

Non-GAAP Subscriptions

81.9

%

 

82.3

%

 

82.1

%

 

82.1

%

Non-GAAP Other

18.4

%

 

13.2

%

 

15.0

%

 

19.0

%

Non-GAAP Gross profit

76.6

%

 

75.9

%

 

76.6

%

 

76.2

%

Operating expenses reconciliation

 

 

 

 

 

 

 

GAAP Research and development

56,574

 

 

38,658

 

 

189,484

 

 

136,363

 

Share-based compensation

(11,365

)

 

(7,132

)

 

(39,283

)

 

(23,132

)

Acquisition related matters

 

 

(341

)

 

 

 

(693

)

Non-GAAP Research and development

45,209

 

 

31,185

 

 

150,201

 

 

112,538

 

As a % of total revenues non-GAAP

13.5

%

 

12.3

%

 

12.7

%

 

12.5

%

 

 

 

 

 

 

 

 

GAAP Sales and marketing

161,842

 

 

126,077

 

 

583,773

 

 

439,100

 

Share-based compensation

(19,075

)

 

(10,736

)

 

(64,240

)

 

(38,325

)

Amortization of acquisition intangibles

(962

)

 

(929

)

 

(3,781

)

 

(3,720

)

Acquisition related matters

 

 

(8,374

)

 

4

 

 

(10,483

)

Non-GAAP Sales and marketing

141,805

 

 

106,038

 

 

515,756

 

 

386,572

 

As a % of total revenues non-GAAP

42.4

%

 

41.9

%

 

43.6

%

 

42.8

%

 

 

 

 

 

 

 

 

GAAP General and administrative

53,651

 

 

41,626

 

 

200,032

 

 

142,027

 

Share-based compensation

(17,894

)

 

(9,167

)

 

(71,802

)

 

(31,156

)

Acquisition related matters

(244

)

 

(1,947

)

 

(2,820

)

 

(4,955

)

Non-GAAP General and administrative

35,513

 

 

30,512

 

 

125,410

 

 

105,916

 

As a % of total revenues non-GAAP

10.6

%

 

12.1

%

 

10.6

%

 

11.7

%

Income (loss) from operations reconciliation

 

 

 

 

 

 

 

GAAP loss from operations

(28,743

)

 

(20,369

)

 

(113,239

)

 

(45,675

)

Share-based compensation

52,190

 

 

29,664

 

 

189,600

 

 

101,354

 

Amortization of acquisition intangibles

10,067

 

 

4,239

 

 

35,836

 

 

10,718

 

Acquisition related matters

244

 

 

10,743

 

 

2,816

 

 

16,276

 

Non-GAAP Income from operations

33,758

 

 

24,277

 

 

115,013

 

 

82,673

 

Non-GAAP Operating margin

10.1

%

 

9.6

%

 

9.7

%

 

9.2

%

TABLE 5

RINGCENTRAL, INC.

RECONCILIATION OF NET INCOME (LOSS)

GAAP MEASURES TO NON-GAAP MEASURES

(In thousands, except per share data) (Unaudited)

       

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2020

 

2019

 

2020

 

2019

Net income (loss) income reconciliation

 

 

 

 

 

 

 

GAAP net loss

$

(1,827

)

 

$

(25,257

)

 

$

(82,996

)

 

$

(53,607

)

Share-based compensation

52,190

 

 

29,664

 

 

189,600

 

 

101,354

 

Amortization of acquisition intangibles

10,067

 

 

4,239

 

 

35,836

 

 

10,718

 

Acquisition related matters

244

 

 

21,300

 

 

2,816

 

 

26,833

 

Amortization of debt discount and issuance costs

16,418

 

 

5,188

 

 

49,031

 

 

20,337

 

Gain associated with investments and strategic partnerships

(41,683

)

 

(8,343

)

 

(89,488

)

 

(8,343

)

Loss on early extinguishment of debt

961

 

 

 

 

13,284

 

 

 

Intercompany remeasurement gain

(2,050

)

 

(383

)

 

(1,634

)

 

(119

)

Income tax expense effects (1)

(7,621

)

 

(6,105

)

 

(25,478

)

 

(24,446

)

Non-GAAP net income

$

26,699

 

 

$

20,303

 

 

$

90,971

 

 

$

72,727

 

Reconciliation between GAAP and non-GAAP weighted average shares used in computing basic and diluted net (loss) income per common share:

 

 

 

 

 

 

 

Weighted average number of shares used in computing basic net (loss) income per share

89,951

 

 

85,449

 

 

88,684

 

 

83,130

 

Effect of dilutive securities

2,845

 

 

5,783

 

 

4,144

 

 

5,393

 

Non-GAAP weighted average shares used in computing non-GAAP diluted net income per share

92,796

 

 

91,232

 

 

92,828

 

 

88,523

 

 

 

 

 

 

 

 

 

Diluted net (loss) income per share

 

 

 

 

 

 

 

GAAP net loss per share

$

(0.02

)

 

$

(0.30

)

 

$

(0.94

)

 

$

(0.64

)

Non-GAAP net income per share

$

0.29

 

 

$

0.22

 

 

$

0.98

 

 

$

0.82

 

(1) Income tax expense effects for the year ended December 31, 2019 include the tax benefit from release of valuation allowance.

TABLE 6

RINGCENTRAL, INC.

RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES

GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES

(Unaudited, in thousands)

   

 

 

Year Ended
December 31,

 

2020

 

2019

Net cash (used in) provided by operating activities

$

(35,191

)

 

$

64,846

 

Strategic partnerships

141,584

 

 

34,500

 

Repayment of convertible senior notes attributable to debt discount

35,020

 

 

 

Non-GAAP net cash provided by operating activities

141,413

 

 

99,346

 

Purchases of property and equipment

(43,618

)

 

(27,767

)

Capitalized internal-use software

(38,113

)

 

(16,526

)

Non-GAAP free cash flow

$

59,682

 

 

$

55,053

 

TABLE 7

RINGCENTRAL, INC.

RECONCILIATION OF FORECASTED OPERATING MARGIN

GAAP MEASURES TO NON-GAAP MEASURES

(Unaudited, in millions)

       
 

Q1 2021

 

FY 2021

 

Low Range

 

High Range

 

Low Range

 

High Range

GAAP revenues

337.0

 

 

340.0

 

 

1,475.0

 

 

1,490.0

 

 

 

 

 

 

 

 

 

GAAP loss from operations

(51.0

)

 

(47.1

)

 

(320.5

)

 

(304.5

)

GAAP operating margin

(15.1

%)

 

(13.8

%)

 

(21.7

%)

 

(20.4

%)

Share-based compensation

68.0

 

 

66.0

 

 

420.0

 

 

410.0

 

Amortization of acquisition intangibles

12.0

 

 

11.0

 

 

48.0

 

 

45.0

 

Acquisition related matters

 

 

 

 

 

 

 

Non-GAAP income from operations

29.0

 

 

29.9

 

 

147.5

 

 

150.5

 

Non-GAAP operating margin

8.6

%

 

8.8

%

 

10.0

%

 

10.1

%

 

February 10, 2021

Lush Cosmetics Selects RingCentral through CDW to Power Cloud Communications Globally

London, UK –  10 February 2021 -- RingCentral UK Ltd. and CDW, technology services and solutions provider, today announced that Lush Cosmetics has selected RingCentral® to power its business communications across its global workforce and enable them to better engage with their customers.

RingCentral UK Ltd. is a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions.

As a growing organisation, Lush needed a communications solution capable of scaling to meet the increasing demands of their business. They worked with their longstanding IT services and solutions partner, CDW, to identify the right cloud communications solution.

According to Gavin Berwitz, Commercial Sales Director at CDW, “CDW worked as a trusted partner, assisting with capturing Lush’s requirements, providing market insights around partner differentiation, and accelerating the evaluation process. RingCentral Office® is the industry-leading solution for cloud unified communications, and is best positioned to empower Lush’s employees to deliver the best possible service to their customers and do what they do best – create innovative and ethical products. Lush is an iconic brand and a great British retail success story, and we’re proud to help them become a more resilient and adaptable business, now and far into the future.”

With multimodal capabilities including team messaging, video meetings, and a cloud phone system, RingCentral Office enables Lush employees—who are increasingly working remotely—to communicate with customers and peers across multiple channels, from any location, and on any device.

Brad Candy, Technical Operations Manager at Lush, explains, “The feedback from our team has already been hugely positive. There’s a sense of relief that we’ve now moved from the clunkiness of an on-premise system to a next-generation cloud communications solution. Updates that used to take us hours to complete previously can now be done in a matter of minutes with RingCentral. The transition was much easier than expected.”

Steve Rafferty, UK Managing Director at RingCentral adds, “We’re delighted to be working with such a well-loved global cosmetics brand, and we’re excited to see where our partnership will go in 2021. We understand that with scale comes the need for flexible solutions that not only provide robust collaboration features, but are compatible with existing company systems. We spent a lot of time customizing our offering to Lush’s specific requirements to ensure their employees be as productive as possible and engage with customers effectively.” 


About CDW UK
CDW UK works with its customers to provide vendor-agnostic IT solutions and manage major IT infrastructure projects. The company has an international presence in both private and public sector IT and through its global supply chain provides products and services in more than 170 countries. The CDW UK team possess the industry’s highest achievable accreditations, which means their customers can focus on running their business, not managing their IT. For more information, visit www.uk.cdw.com.

About RingCentral  
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system; Glip ®  the company's free video meetings solution with team messaging that enables Smart Video Meetings™; and RingCentral cloud Contact Center  solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings and the RingCentral logo are trademarks of RingCentral, Inc.

 

January 28, 2021

Atos launches Unify Office by RingCentral in the United Kingdom

London, UK, 28 January, 2021 – Atos SE (CAC40: ATO) and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact centre solutions, today announced the first release of Unify Office (UO) in the United Kingdom. A Unified Communications-as-a-Service (UCaaS), UO enables businesses to communicate and collaborate with ease using industry-leading voice, video, and team messaging capabilities from anywhere and on any device via a single enterprise solution.

“As all organisations try to navigate the acute challenges of a third UK lockdown, the importance of long-term communication and collaboration plans are becoming clear. Unify Office by RingCentral brings leading edge capabilities of team messaging ,  cloud phone system , and high quality video into a single application, giving our customers the flexibility to work  across multiple environments to meet the new working patterns of their employees,” said David Webbley, Atos Unify Head of Northern Europe.  “Additionally, as GDPR and data compliance are now mandatory elements of our customers’ requirements Unify Office by RingCentral has been specifically designed to meet the highest UK & EU security and privacy standards.”

Unify Office offers several benefits to customers, including:

-      Seamless migration: Customers can migrate at their own pace from traditional on-premise telephony systems to Unify Office by RingCentral. They can also continue to use their existing Atos Unify OpenScape Desk phones with Unify Office.

-      Simplicity: One vendor, One offer, One solution. Whether a customer’s need is big or small we can support them with a simplified landscape to cover all their communication and collaboration needs, wherever their teams are working in the new normal.

-      Open Platform and Integrations: Easily integrate Unify Office with existing business applications, when using applications such as Salesforce, Microsoft, and Google productivity suites through 200+ pre-built integrations or with help of Atos to develop integrations for specific custom workflow.

-      Enhanced user experience: Unify Office will now offer dark theme for easier viewing, integration with Microsoft Office 365 and Google contacts for easy communication, and desktop phone updates for better navigation. 

-      New call features: Will enable users to switch from a voice call to a video call with a single click, pick-up authorised calls that are directed to another user’s extension, and setup queue overflow to extensions so that more calls are answered rather than getting routed to voicemail. 

-      Enhanced video meeting experience and security: Unify Office will include admin, host, and moderator controls, and password protection.  

-      Also, participants will now have the ability to switch their view of the video gallery to one of two new layouts: Film Strip and Active Speaker. This will provide an improved user experience so if users choose, they can focus on who is speaking or presenting without distraction from other users. 

-      Integrated team messaging: With built-in messaging, users can get more done before, during, and after meetings. Using task management, users can pin action items for easy follow-up and keep teams accountable.

“At RingCentral, we’re focused on bringing the benefits of cloud communications to businesses everywhere,” said Anand Eswaran, RingCentral’s president and chief operating officer. “With Atos Unify now available in the UK, more of Atos' customers will have access to a single, secure, and trusted business communications solution with integrated team messaging, video meetings, and an enterprise cloud phone system, enabling people and teams to be productive and efficient.” 

For more information, please visit Unify Office by RingCentral online. 


About Atos
Atos is a global leader in digital transformation with 110,000 employees and annual revenue of € 12 billion. European number one in cybersecurity, cloud and high performance computing, the group provides tailored end-to-end solutions for all industries in 73 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos operates under the brands Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris stock index.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Atos UCC (Unified Communications and Collaboration) refers to the former Unify Division  
Atos Unify refers to the product family of former Unify products and partner program.  

About RingCentral  
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™(MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office®, a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system; Glip®the company's free video meetings solution with team messaging that enables  Smart Video Meetings™; and RingCentral cloud Contact Center solutions. RingCentral's open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

©  2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, MVP, RingCentral Office and the RingCentral logo are trademarks of RingCentral, Inc.

 

January 14, 2021

Atos launches Unify Office by RingCentral in U.S.

London, UK, January 14, 2021 – Atos SE , AC40: ATO) and RingCentral, Inc. (NYSE: RNG),a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced the first release of Unify Office (UO) in the United States. A Unified Communications-as-a-Service (UCaaS), UO enables businesses to communicate and collaborate with ease using industry-leading voice, video, and team messaging capabilities from anywhere and on any device via a single enterprise solution.

“Customers seek communication and collaboration solutions that interact with their preferred business applications and provide future-proofed capabilities for businesses of all sizes. With Unify Office customers can leverage the unique combination of message, video, and enterprise phone system capabilities together in a single application,” said Oliver Coste, Head of Unified Communications, Atos North America. “Atos has a rich history of delivering leading edge communication and collaboration platforms in North America. Since the days of ROLM, Atos Unify solutions have supported a wide variety of customers, from the federal government, states and municipalities to manufacturers, hospitals, utilities and more. We’re excited to bring the innovative combination of RingCentral’s leading UCaaS product together with Atos’ deep system integrator capabilities to the United States. Together we have capabilities to build deeply integrated and managed digital workplaces that end users need to be competitive.”

Unify Office offers several benefits to customers, including:
-      Seamless migration: Customers can migrate at their own pace from traditional on-premise telephony systems to Unify Office by RingCentral. They can also continue to use their existing Atos Unify OpenScape CP Desk phones with Unify Office.

-      Simplicity: One vendor, One offer, One solution. Whether a customer’s need is big or small we can support them with a simplified landscape to cover all their communication and collaboration needs, wherever their teams are working in the new normal.

-      Open Platform and Integrations: Easily integrate Unify Office with existing business applications, when using applications such as Salesforce, Microsoft, and Google productivity suites through 200+ pre-built integrations or with help of Atos to develop integrations for specific custom workflow.

-      Enhanced user experience: Unify Office will now offer dark theme for easier viewing, integration with Microsoft Office 365 and Google contacts for easy communication, and desktop phone updates for better navigation. 

-      New call features: Will enable users to switch from a voice call to a video call with a single click, pick-up authorized calls that are directed to another user’s extension, and setup queue overflow to extensions so that more calls are answered rather than getting routed to voicemail.

-      Enhanced video meeting experience and security: Unify Office will include admin, host, and moderator controls, and password protection. 

-      Also, participants will now have the ability to switch their view of the video gallery to one of two new layouts: Film Strip and Active Speaker. This will provide an improved user experience so if users choose, they can focus on who is speaking or presenting without distraction from other users.

-      Integrated team messaging: With built-in messaging, users can get more done before, during, and after meetings. Using task management, users can pin action items for easy follow-up and keep teams accountable.

“At RingCentral, we’re focused on bringing the benefits of cloud communications to businesses everywhere,” said Anand Eswaran, RingCentral’s president and chief operating officer. “With Atos Unify now available in the US, more of Atos' customers will have access to a single, secure, and trusted business communications solution with integrated team messaging, video meetings, and an enterprise cloud phone system, enabling people and teams to be productive and efficient.” 

For more information, please visit Unify Office by RingCentral online. 

About Atos
Atos is a global leader in digital transformation with 110,000 employees and annual revenue of € 12 billion. European number one in cybersecurity, cloud and high performance computing, the group provides tailored end-to-end solutions for all industries in 73 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos operates under the brands Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris stock index.

The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

Atos UCC (Unified Communications and Collaboration) refers to the former Unify Division  
Atos Unify refers to the product family of former Unify products and partner program.  

About RingCentral 
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip ®  the company's free video meetings solution with team messaging that enables  Smart Video Meetings™, and RingCentral cloud Contact Center   solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

©  2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, MVP, RingCentral Office and the RingCentral logo are trademarks of RingCentral, Inc.

 

January 12, 2021

RingCentral Hires Jaya Kumar as Chief Marketing Officer

London, UK -- January 12, 2021 -- RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions today announced that Jaya Kumar has joined the company as its Chief Marketing Officer (CMO) reporting to Anand Eswaran, president and chief operating officer (COO) at RingCentral. 

“I am delighted to welcome Jaya to lead our world-class marketing organization,” said Anand Eswaran, president and chief operating officer at RingCentral. “Jaya has a terrific track record of envisioning and leading category changing marketing programs across several industries and geographies. The boundaries between businesses and consumers are collapsing, and Jaya’s global experience, and pioneering marketing work at this intersection of consumers and businesses will prove invaluable in RingCentral’s journey to lead the digital transformation of business communications solutions in the work from anywhere environment.” 

Kumar brings more than 25 years of experience with multiple Fortune 100 companies including PepsiCo, Kraft Foods/Mondelez where he held both president and CMO positions. In addition, Jaya has worked in multiple markets of the world including Asia, Middle East, Canada, and USA. Most recently he was Global CMO at Capital Group, one of the world’s largest fund manager with over $2.2 trillion in assets under management for individuals and institutional investors. 

“Throughout my career I’ve been lucky to work around the world in different industries and bring unique approaches to drive successful business outcomes. The opportunity to join a company like RingCentral that’s at the center of a major global shift as people start to work from anywhere, comes along once in a lifetime,” said Kumar. “RingCentral is well positioned to help companies of any size support a hybrid workforce using the very latest cloud communications solutions. I couldn’t be more excited to join the company. The possibilities are endless.” 

Follow Jaya Kumar on LinkedIn.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip ®  the company's free video meetings solution with team messaging that enables  Smart Video Meetings™, and RingCentral cloud Contact Center   solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

©  2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

 

January 7, 2021

RingCentral Appoints Security Expert Heather Hinton as Chief Information Security Officer

London, U.K. -- Jan. 7, 2021 -- RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions today announced that industry security veteran, Heather Hinton has joined RingCentral as the company’s Chief Information Security Officer (CISO). Hinton joins RingCentral from IBM, where she spent 13 years in various leadership positions, most recently as vice president and IBM distinguished engineer, and CISO for the company’s Cloud and Cognitive Software business unit.

Heather Hinton

Heather Hinton

Hinton brings more than 30 years of experience in Information Technology (IT) and cyber security expertise to RingCentral. Over the years, she has led product design and architecture, development, and sales and support for several organizations and was instrumental in bringing Privacy by Design thinking into IBM’s Security and Privacy by Design discipline in response to emerging privacy requirements. She has also overseen security operations and data center security, risk management, and incident response activities for large Fortune 500 customers.

“As everyone evolves to work from anywhere, it is absolutely crucial that we continue to provide our customers with a trusted cloud communications platform,” said Nat Natarajan, executive vice president of products and engineering, at RingCentral. “Heather brings incredible experience and insights on security and privacy that perfectly aligns with our vision. We are delighted to welcome her to the RingCentral family and look forward to continuing to build trust with our customers through delivering a best-in-class secure, reliable, and compliant cloud communications platform.”

While at IBM, Heather held a variety of key positions including IBM Distinguished Engineer and chief technology officer (CTO) for the company’s Security and Compliance Specialty Service Area (SSA), where she addressed security and compliance concerns for internal adopters and external clients. She was also chief architect for the Worldwide Technical Sales and Solutions group where she was responsible for driving the adoption of IBM Cloud solutions (also known as IBM Bluemix IaaS, IBM SoftLayer, and IBM Smart Cloud) with key strategic clients.

As an IBM Master Inventor, Hinton holds over 100 patents covering federated identity management, cloud security, and policy management. She was inducted into the Women in Technology Hall of Fame in 2019.

“I am excited for the opportunity to provide RingCentral customers with a trusted, reliable, and secure platform that supports customers’ digital transformation and enables their people to work from anywhere,” said Hinton. “As the concept of the workplace continues to evolve at a rapid pace, security and privacy have taken center stage. RingCentral’s commitment to security and privacy and desire to continuously delight and empower customers with broader security innovation was a big draw for me. Together with the team, I will help maintain and improve RingCentral’s current security posture and processes as we continue to drive innovation and collaboration.”

Follow Heather Hinton on LinkedIn and Twitter.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip ®  the company's free video meetings solution with team messaging that enables Smart Video Meetings™, and RingCentral cloud Contact Center  solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings and the RingCentral logo are trademarks of RingCentral, Inc.

 

January 6, 2021

RingCentral Continues Focus on Trust with Cyber Essentials Plus Certification in the United Kingdom

London, U.K. January 6, 2021 – RingCentral UK Ltd., a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact centre solutions and a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG) today announced that the company has secured the United Kingdom National Cyber Security Centre’s (NCSC) Cyber Essentials Plus certification. The certification, under the UK Government's Cyber Essentials scheme, was achieved following a comprehensive external audit process undertaken by Manchester based NCC Group. The Cyber Essentials Plus certification demonstrates robust practice across operational processes and resilient cyber defences. This certification is part of RingCentral’s ongoing commitment to trust, security, and compliance.

“Trust is the currency of business communications,” said Steve Rafferty, Country Manager, United Kingdom & Ireland at RingCentral. “We are committed to ensuring that our customers can rely on the highest standards of security, compliance, and privacy. Our focus on adding the Cyber Essentials Plus certification is part of that commitment and assures our existing and future customers across the public and private sector that we’re focused on embracing the very highest standards.” 

This certification underpins the company's commitment as a key supplier of services to the public sector. In addition, RingCentral undergoes frequent and proactive testing, assessments, and third-party security audits throughout the year to give customers assurance and builds on its core pillars including security, trust, privacy, transparency, and reliability.

For more information on RingCentral’s approach to trust and security click here.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact centre solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip®   the company's free video meetings solution with team messaging that enables  Smart Video Meetings™, and RingCentral cloud Contact Centre   solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customise business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, MVP, RingCentral Office, Glip, Smart Video Meetings and the RingCentral logo are trademarks of RingCentral, Inc.

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