RingCentral Press Releases

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Articles archive: 2021

June 24, 2021

RingCentral Video Wins “Overall Video Conferencing Solution of the Year” from RemoteTech Breakthrough 2021 Awards

London, UK — June 24, 2021 — RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that RingCentral Video® has been selected as the winner of the “Overall Video Conferencing Solution of the Year” award in the 2021 RemoteTech Breakthrough Awards. RemoteTech Breakthrough is a leading independent market intelligence organisation that evaluates and recognises standout technology companies and products empowering remote work and distributed teams globally. Their awards program this year attracted more than 1,600 nominations from over 15 countries worldwide.

“Keeping a team cohesive when you go remote can be a challenge. In a matter of days, RingCentral was able to help businesses around the world connect their dispersed teams and transition to staying at home, safe without missing a beat in productivity and communication,” said Bryan Vaughn, managing director of RemoteTech Breakthrough Awards. “RingCentral is driving rapid innovation around helping people have smarter meetings through an integrated message, video, and phone solution. Its global cloud communications solution continues to lead the market and meet evolving business and enterprise customer needs. Congratulations on being our choice for ‘Overall Video Conferencing Solution of the Year.’ We’re excited to see what’s next for RingCentral as they continue to set themselves apart in the space.” 

RingCentral Video, the company's video meetings solution with team messaging, enables people to connect, communicate, and collaborate seamlessly, whether they are returning to the office or working from anywhere. RingCentral Video raises the bar for online collaboration and meetings with integrated video meetings and team messaging, providing people with the tools they need to be productive working from anywhere.

"The pandemic has changed the way organisations think about work and redefined how people connect in their work and personal lives,” said Nat Natarajan, executive vice president of products and engineering at RingCentral. “Our focus is and always has been on driving innovation that empowers our customers not just to connect but to do it productively. We’re honored by this accolade as we continue to develop solutions teams need to work easily and securely from anywhere."

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™) global platform. More flexible and cost effective than legacy on-premises 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 MVP™, a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and cloud phone system; RingCentral Video®,  the company's 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 customise business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

About RemoteTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the RemoteTech Breakthrough Awards program is devoted to honoring excellence in technologies, services, companies and products that empower remote work and distributed teams around the globe. The RemoteTech Breakthrough Awards program provides a forum for public recognition around the achievements of technology companies and solutions in categories including messaging & communication, project management, virtual events, team collaboration, virtual offices, collaborative design and more. For more information visit RemoteTechBreakthrough.com.

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

 

June 22, 2021

RingCentral Reimagines Meeting Rooms for New Hybrid Work Styles

Highlights include:

  • Voice activated control and mobile phone controller for RingCentral Rooms™ 
  • RingCentral Rooms on Logitech Rally devices
  • RingCentral Rooms for Windows devices

London, UK -- June 22, 2021 -- RingCentral Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced new enhancements to RingCentral Rooms™. The enhancements, specific to its video meetings capabilities within RingCentral’s Message Video Phone™(MVP™) offering and RingCentral Video®, the company's video meetings solution with team messaging, will enable people to connect, communicate, and collaborate seamlessly, whether they are returning to the office or working from anywhere. The new capabilities include voice activated control enabling users to start and join meetings through a touchless experience and the ability to control the meeting from a mobile device. In addition, RingCentral Rooms will now be compatible with Logitech Rally devices and Windows devices and appliances, making RingCentral Rooms accessible to a wider audience. 

“At RingCentral we are focused on connecting people - wherever they are located - with the best messaging, video, and cloud phone service,” said Nat Natarajan, executive vice president of products and engineering at RingCentral. “As offices open up, organizations are quickly adapting to support a collaborative hybrid workforce that creates participation equity. Our rapid innovation on RingCentral Rooms makes it easier and more rewarding for people to connect, resulting in a more inclusive culture so they can do their best work.”  

RingCentral customer Dave Evans, CIO of Computer History Museum, a well-known Bay Area-based institution, said, “Our mission is to enable our employees, partners and guests to communicate digitally with audiences all over the world - whether that's in-person from our historical venue, from home, or on-the-go. With new RingCentral Rooms capabilities, we will have the flexibility we need to redesign and transform our venue for the new way of working and support a hybrid model. By doing this, we can continue to preserve the history of computing through the exchange of ideas with audiences seamlessly from wherever they are.” 

Meeting Room Features for the Hybrid Workplace 

As workers begin to return to offices and work from anywhere, organizations must manage safety concerns, including cleanliness and social distancing guidelines to ensure their employees are comfortable attending hybrid video meetings in an office environment. To support this, we are announcing the following features for RingCentral Rooms: 

  • Voice activated Rooms: Users can use a voice command, “Hi RingCentral, join my meeting” in any conference room that leverages RingCentral Rooms, without needing to touch the shared tablet controller or any high touch surfaces. 
  • Mobile phone as controller: Users can start, join, and manage video meetings in a conference room using their own RingCentral mobile app (connecting to the room via Bluetooth) so they can adhere to social distancing guidelines and avoid touching the communal controller tablet to control the Rooms system. The RingCentral app will natively support a command to start an upcoming meeting. 
  • Rooms monitoring: Users can now track and monitor their RingCentral Rooms devices in real-time, gaining visibility into device history and unprovisioned devices. With this feature, users can easily search, filter, and track meeting rooms and devices based on location/IP address, time, and device name.
  • Rooms status and alerts: IT admins can now customize the operational status of their room’s assets to ensure meeting rooms are fully functional. Administrators can receive real-time, proactive alerts about the status of devices and integrations in any particular meeting room and remedy any issues before the meeting occurs.
  • Windows for RingCentral Rooms: RingCentral Rooms now supports Windows-based host appliances, in addition to Android and Mac appliances. With this update, we are continuing to expand our portfolio by providing compatibility and support for the majority of devices used by customers today including devices from Logitech and AVer. 

“Organizations are actively discussing plans to enable employees to work in the office and exactly when and how that will happen. However, they will need an actual plan in place that addresses things like meeting accessibility, simplicity, control, inclusion, workplace safety, security, privacy, etc. for that to happen effectively,” said Rich Costello, senior research analyst, IDC. “The capabilities and enhancements highlighted in this RingCentral Rooms announcement are key attributes of any smart return to work plan.”

RingCentral Rooms for Logitech: All-in-One Video Meeting Rooms Solution

Together, Logitech and RingCentral are providing an easy way for businesses to modernize their workplaces for the new hybrid workforce with an enhanced meeting rooms experience. With RingCentral Rooms for Logitech, mutual customers can deploy, start, and join meetings without the need for extensive meeting room equipment, delivering an all-in-one video conferencing solution for almost any workspace. This solution enables organizations to accelerate their hybrid transitions and allow onsite and remote employees to connect and collaborate with minimal friction. 

The Logitech Rally Family of devices will support RingCentral Rooms, included with the Logitech® Tap controller to allow users to control room settings. Devices include:

  • Logitech® Rally Bar Mini for small-sized meeting rooms
  • Logitech® Rally Bar for medium-sized meeting rooms
  • Logitech® Rally Plus & RoomMate for large-sized meeting rooms (available by end of 2021)

“Teleconference phones in conference rooms are rapidly transforming into video rooms as the world starts returning to the office and transitioning to hybrid work,” said Scott Wharton, GM of Video Collaboration for Logitech. “RingCentral has been a leader and innovator in driving Unified Communications to businesses of all sizes, so their RingCentral Rooms, powered by Logitech's market-leading video products, is a next logical step to helping people adapt to the new hybrid reality.” 

For more information about RingCentral Rooms, visit https://www.ringcentral.com/office/rooms.html

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™) global 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 MVP™, a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and cloud phone system, RingCentral Video™,  the company's 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, RingCentral Office, RingCentral Rooms, RingCentral Video, RCV, Message Video Phone, MVP, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

All product names and trademarks are the property of their respective owners.

 

June 21, 2021

Alcatel-Lucent Enterprise and RingCentral launch new cloud communication solution, Rainbow Office powered by RingCentral, in the United Kingdom

PARIS, France & BELMONT, Calif. – June 21, 2021 – Alcatel-Lucent Enterprise, a leading provider of communications, networking, and cloud solutions and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact centre solutions, are joining forces to launch Rainbow Office powered by RingCentral, a Unified Communication as a Service (UCaaS) solution, in the United Kingdom. 

Stemming from a strategic partnership between RingCentral and Alcatel-Lucent Enterprise, announced in August 2020, Rainbow Office powered by RingCentral, will combine the very latest in UCaaS technology from RingCentral, with market-leading networking, communication, and cloud solutions and services from Alcatel-Lucent Enterprise’s portfolio, making it a unique offering in the market. 

Alcatel-Lucent Enterprise’s mission is to deliver customised technology experiences to enterprises with a verticalized business approach. 

Rainbow Office powered by RingCentral, will enrich the company’s cloud portfolio enabling customers to accelerate their digital transformation with UCaaS.  

With Rainbow Office, users can efficiently and securely collaborate from anywhere and on any device via a single enterprise solution, leveraging RingCentral’s industry-leading integrated Message Video Phone™ (MVP™) capabilities. Rainbow Office provides users HD audio and video, virtual backgrounds, screen share capabilities, the ability to check presence, share files, and seamlessly switch between devices with integrated carrier-grade voice.

“We are delighted to partner with RingCentral to address the needs of Middle and Large Enterprise customers in the UK,” says Heather Zhang, Alcatel-Lucent Enterprise Country Business Leader for UK, and Ireland. “This public UCaaS solution, which includes outbound and inbound calling minutes, represents a fantastic opportunity for companies who want to accelerate their transformation to the cloud. These businesses can benefit from a secure business communication platform, which is both easy to implement and to use. The Rainbow Office carrier-grade communication suite, provides an all-in-one solution with multiple security layers, offering protection for applications and devices from potential attacks.”  

“We are delighted to launch Rainbow Office powered by RingCentral, in the UK," said Sahil Rekhi, VP Strategic Partnerships, RingCentral. "By bringing together RingCentral's leading cloud communications portfolio and Alcatel-Lucent's ability to deliver customised technology experiences to enterprises, we are confident that customers can accelerate their digital transformation. Additionally, customers will now have access to a powerful UCaaS solution that will meet their growing communications needs and enable them to work from anywhere.”

Rainbow Office is available also in Austria, Belgium, France, Germany, Italy, Ireland, Spain, and in The Netherlands since March 2021. 

About Alcatel-Lucent Enterprise
Alcatel-Lucent Enterprise delivers the customised technology experiences enterprises need to make everything connect.

ALE provides digital-age networking, communications and cloud solutions with services tailored to ensure customers’ success, with flexible business models in the cloud, on premises, and hybrid. All solutions have built-in security and limited environmental impact.

Over 100 years of innovation have made Alcatel-Lucent Enterprise a trusted advisor to more than a million customers all over the world.

With headquarters in France and 3,400 business partners worldwide, Alcatel-Lucent Enterprise achieves an effective global reach with a local focus.

al-enterprise.com | LinkedIn | Twitter | Facebook | Instagram

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™) global platform. More flexible and cost effective than legacy on-premises 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 MVP™, a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and cloud phone system; RingCentral Video™, the company's 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 MVP, RingCentral Video, RingCentral Contact Centre, 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 RingCentral’s future financial and operating performance, RingCentral’s future financial and operating performance, RingCentral’s plans to partner with Alcatel-Lucent Enterprise to offer Rainbow Office powered by RingCentral, the anticipated benefits of and activity under RingCentral’s strategic partnership with Alcatel-Lucent Enterprise, including the ability to create a long-term growth opportunities for RingCentral, 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 RingCentral’s Form 10-Q for the quarter ended June 30, 2020, filed with the Securities and Exchange Commission; and in other filings RingCentral makes 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.

 

May 4, 2021

RingCentral Announces First Quarter 2021 Results

RingCentral Office® ARR up 40% to $1.3 billion

Enterprise ARR up 62% to over $500 million

Global 2000 and Fortune 1000 Enterprise Business now surpasses $100 million ARR

London, UK.--(BUSINESS WIRE)-- 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 first quarter ended March 31, 2021.

First Quarter Financial Highlights

  • Total revenue increased 32% year over year to $352 million.
  • Subscriptions revenue increased 34% year over year to $325 million.
  • Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 37% year over year to $1.4 billion.
  • RingCentral Office® ARR (UCaaS + CCaaS) increased 40% year over year to $1.3 billion.
    • Direct and Partners Office ARR(1) increased 33% year over year to $817 million, an acceleration of 8 points year over year.
    • Channel Office ARR increased 53% year over year to $505 million.

“First quarter results were exceptional, with meaningful contributions from key partners including Avaya, Atos, AT&T, BT, and Telus,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “We believe we are witnessing the intersection of two megatrends of digital transformation and hybrid workforce adoption, which is creating a structural shift in awareness and demand for cloud communications solutions. RingCentral has always been about work from anywhere. With our proven UCaaS platform and a comprehensive CCaaS portfolio, RingCentral continues to win as a trusted communications partner of choice for businesses of all sizes in their digital transformation journeys.”

(1) Direct and Partners Office ARR is defined to include direct, Avaya, Atos, Alcatel-Lucent Enterprise, AT&T, BT, Telus, and other non-channel partners.

Financial Results for the First Quarter 2021

  • Revenue: Subscriptions revenue of $325 million increased 34% year over year and accounted for 92% of total revenue. Total revenue was $352 million for the first quarter of 2021, up from $268 million in the first quarter of 2020, representing 32% growth.
  • Operating Income (Loss): GAAP operating loss was ($42) million, compared to a GAAP operating loss of ($25) million in the same period last year, primarily driven by higher share-based compensation and amortization of acquisition intangibles. Non-GAAP operating income was $33 million, compared to a non-GAAP operating income of $22 million in the same period last year.
  • Net Income (Loss) Per Share: GAAP net loss per share was ($0.00), compared to ($0.70) in the same period last year. The lower loss was primarily driven by mark-to-market gains associated with investments and strategic partnerships. Non-GAAP net income per diluted share was $0.27, compared to $0.19 per diluted share in the same period last year. The first quarters of 2021 and 2020 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 first quarter of 2021 was $463 million. This compares to $640 million at the end of the fourth quarter of 2020. Our cash balance reflects $183 million cash paid for partial repurchase of our 2023 convertible senior notes.

Additional Highlights

Partnerships

  • Together with Avaya, announced global expansion of Avaya Cloud Office™ by RingCentral®, now available in 13 countries. In addition, the companies announced new capabilities including Team Connect, customizable key layouts, Salesforce integration, multi-account administration, and conversation folders.
  • Together with Atos, launched Unify Video by RingCentral in Europe. A standalone video with team messaging product, Unify Video is designed to enhance online meetings and enable people to work smarter and communicate and collaborate from anywhere.
  • Together with Alcatel-Lucent Enterprise, announced the launch of Rainbow Office, powered by RingCentral, in eight European countries including Austria, Belgium, France, Germany, Ireland, Italy, Spain, and the Netherlands.
  • Together with AT&T Business, introduced AT&T Office@Hand Wireless, empowering users with a single phone number with native mobile dialing and voicemail options. AT&T Office@Hand Wireless allows businesses to maintain a high-performing voice presence across all devices - mobile, desk phones, tablets, and personal computers.
  • Announced partnership with Eclipse Technology Solutions, a leading provider specializing in the delivery of transformative, end-to-end technology solutions and services, to offer RingCentral’s market leading UCaaS solutions as a lead cloud communications offer to enterprise customers in Canada.
  • Announced partnership with ecotel communication ag, a leading provider of IT and telecommunication solutions for business customers in Germany, whereby RingCentral will be the lead UCaaS offer for customers of all sizes transitioning to the cloud. As part of the partnership, ecotel will offer RingCentral Office® and provide customers with value-added services including migration, adoption, and integration to help customers rapidly move to the cloud.

Platform

  • Announced a range of new video and team messaging capabilities to enhance online meetings. Some of the new RingCentral Video features include video overlay, video virtual backgrounds, breakout rooms, and picture-in-picture. New team messaging capabilities include personal folders, export message data, and external guest controls.
  • 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.
  • Acquired the technology and engineering team at Kindite, a developer of leading cryptographic technologies that mitigate and reduce security and privacy risks to information and applications in the cloud. The new technology will be incorporated into RingCentral’s global communications platform later this year, providing customers with enhanced security capabilities including end-to-end encryption.
  • Announced plans to open a new innovation center in India with sites in Bangalore and Gurgaon. Also announced that Anil Goel has been appointed as Vice President of Engineering and India General Manager. Goel was most recently Global Chief Technology and Product Officer at OYO Hotels and Homes, and previous to that, was at Amazon as Head of Engineering of Customer Returns and Reverse Logistics Business.

Recognition

  • Announced that RingCentral was named a Customers’ Choice in the April 2021 Gartner Peer Insights ‘Voice of the Customer’: Unified Communications as a Service (UCaaS), Worldwide report for both the large and mid-size enterprise. RingCentral was the only vendor to receive the highest overall rating of 4.6 out of 5 stars, as of February 28, 2021 based on 126 reviews.
  • Announced that RingCentral has been recognized as a Leader in two IDC MarketScape UCaaS reports for Enterprise and small and medium-sized business (SMB) market segments. The Enterprise report evaluates 19 different vendors that sell to organizations with 1,000 or more employees, while the SMB report evaluates 15 different vendors that sell to organizations with fewer than 1,000 employees. In both reports, RingCentral was named a Leader.

Financial Outlook

Full Year 2021 Guidance:

  • Raising subscriptions revenue range to $1.388 to $1.396 billion, representing annual growth of 28% to 29%. This is up from our prior range of $1.365 to $1.375 billion and annual growth of 26% to 27%.
  • Raising total revenue range to $1.500 to $1.510 billion, representing annual growth of 27% to 28%. This is up from our prior range of $1.475 to $1.490 billion and annual growth of 25% to 26%.
  • GAAP operating margin range of (21.3%) to (20.1%).
  • 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.
  • Raising non-GAAP EPS range to $1.24 to $1.27 based on 93.5 to 94.0 million fully diluted shares. This is up from our prior 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 $64 million, amortization of acquisition intangibles range of $46 to $49 million, and acquisition related matters of approximately $0.4 million.

Second Quarter 2021 Guidance:

  • Subscriptions revenue range of $332 to $334 million, representing annual growth of 29% to 30%.
  • Total revenue range of $356.5 to $359.5 million, representing annual growth of 28% to 29%.
  • GAAP operating margin range of (23.2%) to (21.6%).
  • Non-GAAP operating margin of 9.3%.
  • Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
  • Non-GAAP EPS range of $0.27 to $0.28 based on 93.0 million fully diluted shares.
  • Share-based compensation range of $99 to $104 million, amortization of debt discount and issuance costs of $16 million, and amortization of acquisition intangibles of $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 first quarter of 2021 and outlook for the second quarter and full year of 2021.
  • When: Tuesday, May 4, 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 May 11, 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 13718511.

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 strategic relationships, such as our relationships with Avaya, Atos, AT&T, Alcatel-Lucent Enterprise, BT, Eclipse Technology Solutions, ecotel communication, Telus, and Vodafone Business, our expectations regarding our strategic acquisitions, such as Kindite, our ability to expand and deepen our global distribution network, our market opportunity, our expectations around market trends, including digital transformation and hybrid workforce adoption, our expectations with respect to awareness and demand for cloud communications solutions, 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 Avaya, Atos, AT&T, Alcatel-Lucent Enterprise, BT, Eclipse Technology Solutions, ecotel communication, Telus, and Vodafone Business; our expectations regarding our strategic acquisitions, such as Kindite; 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 RingCentral Office® and Glip; 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-K for the year ended December 31, 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 which includes related employer payroll taxes, 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 which includes related employer payroll taxes, 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 Office 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 calculate direct and partners Office annualized exit monthly recurring subscriptions in the same manner as we calculate our annualized exit monthly revenue subscriptions, except that only customer subscriptions not 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.

TABLE 1

RINGCENTRAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands)

       

 

March 31, 
2021

 

December 31, 
2020

Assets

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

463,067

 

 

$

639,853

 

Accounts receivable, net

166,852

 

 

176,034

 

Deferred and prepaid sales commission costs

73,578

 

 

63,726

 

Prepaid expenses and other current assets

40,206

 

 

46,516

 

Total current assets

743,703

 

 

926,129

 

Property and equipment, net

145,598

 

 

142,208

 

Operating lease right-of-use assets

48,938

 

 

51,115

 

Long-term investments

270,697

 

 

213,176

 

Deferred and prepaid sales commission costs, non-current

680,988

 

 

667,779

 

Goodwill

56,295

 

 

57,313

 

Acquired intangibles, net

115,040

 

 

118,313

 

Other assets

8,453

 

 

8,564

 

Total assets

$

2,069,712

 

 

$

2,184,597

 

Liabilities, Temporary Equity, and Stockholders’ Equity

 

 

 

Current liabilities

 

 

 

Accounts payable

$

44,719

 

 

$

54,043

 

Accrued liabilities

216,343

 

 

210,654

 

Current portion of convertible senior notes, net

37,051

 

 

31,148

 

Deferred revenue

146,245

 

 

142,223

 

Total current liabilities

444,358

 

 

438,068

 

Convertible senior notes, net

1,350,792

 

 

1,375,320

 

Operating lease liabilities

36,070

 

 

38,722

 

Other long-term liabilities

21,299

 

 

20,241

 

Total liabilities

1,852,519

 

 

1,872,351

 

 

 

 

 

Temporary equity

4,125

 

 

3,787

 

 

 

 

 

Stockholders’ equity

 

 

 

Common stock

9

 

 

9

 

Additional paid-in capital

582,157

 

 

673,950

 

Accumulated other comprehensive income

3,394

 

 

6,806

 

Accumulated deficit

(372,492

)

 

(372,306

)

Total stockholders’ equity

$

213,068

 

 

$

308,459

 

Total liabilities, temporary equity and stockholders’ equity

$

2,069,712

 

 

$

2,184,597

 

TABLE 2

RINGCENTRAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands, except per share data)

   

 

Three Months Ended 
March 31,

 

2021

 

2020

Revenues

 

 

 

Subscriptions

$

325,223

 

 

$

243,104

 

Other

27,133

 

 

24,408

 

Total revenues

352,356

 

 

267,512

 

Cost of revenues

 

 

 

Subscriptions

73,247

 

 

52,433

 

Other

23,734

 

 

21,011

 

Total cost of revenues

96,981

 

 

73,444

 

Gross profit

255,375

 

 

194,068

 

Operating expenses

 

 

 

Research and development

62,676

 

 

40,910

 

Sales and marketing

179,249

 

 

131,312

 

General and administrative

55,461

 

 

47,336

 

Total operating expenses

297,386

 

 

219,558

 

Loss from operations

(42,011

)

 

(25,490

)

Other income (expense), net

 

 

 

Interest expense

(16,278

)

 

(7,502

)

Other income (expense)

58,543

 

 

(27,517

)

Other income (expense), net

42,265

 

 

(35,019

)

Gain (loss) before income taxes

254

 

 

(60,509

)

Provision for income taxes

440

 

 

212

 

Net loss

$

(186

)

 

$

(60,721

)

Net loss per common share

 

 

 

Basic and diluted

$

 

 

$

(0.70

)

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

 

 

 

Basic and diluted

90,634

 

 

87,339

 

TABLE 3

RINGCENTRAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in thousands)

   

 

Three Months Ended 
March 31,

 

2021

 

2020

Cash flows from operating activities

 

 

 

Net loss

$

(186

)

 

$

(60,721

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

24,577

 

 

16,548

 

Share-based compensation

54,962

 

 

36,589

 

Amortization of deferred and prepaid sales commission costs

15,644

 

 

9,809

 

Amortization of debt discount and issuance costs

16,200

 

 

7,452

 

Loss on early extinguishment of debt

658

 

 

7,250

 

Repayment of convertible senior notes attributable to debt discount

(4,712

)

 

(13,894

)

Reduction of operating lease right-of-use assets

4,322

 

 

3,843

 

Unrealized (gain) loss on investments

(57,521

)

 

22,246

 

Foreign currency remeasurement loss

194

 

 

964

 

Provision for bad debt

1,485

 

 

1,492

 

Deferred income taxes

(274

)

 

(33

)

Other

153

 

 

45

 

Changes in assets and liabilities:

 

 

 

Accounts receivable

7,697

 

 

(6,935

)

Deferred and prepaid sales commission costs

(36,502

)

 

(22,544

)

Prepaid expenses and other current assets

6,310

 

 

(8,958

)

Other assets

818

 

 

131

 

Accounts payable

(8,109

)

 

888

 

Accrued liabilities

9,063

 

 

19,948

 

Deferred revenue

4,022

 

 

2,806

 

Operating lease liabilities

(4,382

)

 

(3,783

)

Other liabilities

2,536

 

 

(74

)

Net cash provided by operating activities

36,955

 

 

13,069

 

Cash flows from investing activities

 

 

 

Purchases of property and equipment

(8,721

)

 

(6,861

)

Capitalized internal-use software

(9,757

)

 

(7,389

)

Cash paid for acquisition of intangible assets

(8,358

)

 

 

Net cash used in investing activities

(26,836

)

 

(14,250

)

Cash flows from financing activities

 

 

 

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

 

 

986,508

 

Payments for 2023 convertible senior notes partial repurchase

(178,911

)

 

(495,704

)

Payments for capped calls and transaction costs

 

 

(60,900

)

Proceeds from issuance of stock in connection with stock plans

1,192

 

 

4,802

 

Payments for taxes related to net share settlement of equity awards

(4,900

)

 

(10,351

)

Payment for contingent consideration for business acquisition

(3,600

)

 

(3,548

)

Repayment of financing obligations

(277

)

 

(511

)

Net cash (used in) provided by financing activities

(186,496

)

 

420,296

 

Effect of exchange rate changes

(409

)

 

(657

)

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

(176,786

)

 

418,458

 

Cash, cash equivalents, and restricted cash

 

 

 

Beginning of period

639,853

 

 

343,606

 

End of period

$

463,067

 

 

$

762,064

 

TABLE 4

RINGCENTRAL, INC.

RECONCILIATION OF OPERATING INCOME (LOSS)

GAAP MEASURES TO NON-GAAP MEASURES

(Unaudited, in thousands)

   

 

Three Months Ended 
March 31,

 

2021

 

2020

Revenues

 

 

 

Subscriptions

$

325,223

 

 

$

243,104

 

Other

27,133

 

 

24,408

 

Total revenues

352,356

 

 

267,512

 

Cost of revenues reconciliation

 

 

 

GAAP Subscriptions cost of revenues

73,247

 

 

52,433

 

Share-based compensation

(3,978

)

 

(2,076

)

Amortization of acquisition intangibles

(10,618

)

 

(7,701

)

Acquisition related matters

 

 

 

Non-GAAP Subscriptions cost of revenues

58,651

 

 

42,656

 

 

 

 

 

GAAP Other cost of revenues

23,734

 

 

21,011

 

Share-based compensation

(1,656

)

 

(650

)

Non-GAAP Other cost of revenues

22,078

 

 

20,361

 

Gross profit and gross margin reconciliation

 

 

 

Non-GAAP Subscriptions

82.0

%

 

82.5

%

Non-GAAP Other

18.6

%

 

16.6

%

Non-GAAP Gross profit

77.1

%

 

76.4

%

Operating expenses reconciliation

 

 

 

GAAP Research and development

62,676

 

 

40,910

 

Share-based compensation

(14,649

)

 

(7,467

)

Acquisition related matters

 

 

 

Non-GAAP Research and development

48,027

 

 

33,443

 

As a % of total revenues non-GAAP

13.6

%

 

12.5

%

 

 

 

 

GAAP Sales and marketing

179,249

 

 

131,312

 

Share-based compensation

(24,767

)

 

(11,291

)

Amortization of acquisition intangibles

(970

)

 

(931

)

Acquisition related matters

 

 

4

 

Non-GAAP Sales and marketing

153,512

 

 

119,094

 

As a % of total revenues non-GAAP

43.6

%

 

44.5

%

 

 

 

 

GAAP General and administrative

55,461

 

 

47,336

 

Share-based compensation

(17,443

)

 

(15,105

)

Acquisition related matters

(438

)

 

(1,863

)

Non-GAAP General and administrative

37,580

 

 

30,368

 

As a % of total revenues non-GAAP

10.7

%

 

11.4

%

Income (loss) from operations reconciliation

 

 

 

GAAP loss from operations

(42,011

)

 

(25,490

)

Share-based compensation

62,493

 

 

36,589

 

Amortization of acquisition intangibles

11,588

 

 

8,632

 

Acquisition related matters

438

 

 

1,859

 

Non-GAAP Income from operations

32,508

 

 

21,590

 

Non-GAAP Operating margin

9.2

%

 

8.1

%

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 
March 31,

 

2021

 

2020

Net income (loss) reconciliation

 

 

 

GAAP net loss

$

(186

)

 

$

(60,721

)

Share-based compensation

62,493

 

 

36,589

 

Amortization of acquisition intangibles

11,588

 

 

8,632

 

Acquisition related matters

438

 

 

1,859

 

Amortization of debt discount and issuance costs

16,200

 

 

7,452

 

Loss (gain) associated with investments and strategic partnerships

(59,597

)

 

20,148

 

Loss on early extinguishment of debt

658

 

 

7,250

 

Intercompany remeasurement loss

735

 

 

898

 

Income tax expense effects

(6,933

)

 

(4,809

)

Non-GAAP net income

$

25,396

 

 

$

17,298

 

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

 

 

 

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

90,634

 

 

87,339

 

Effect of dilutive securities

2,349

 

 

4,927

 

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

92,983

 

 

92,266

 

 

 

 

 

Diluted net income (loss) per share

 

 

 

GAAP net loss per share

$

 

 

$

(0.70

)

Non-GAAP net income per share

$

0.27

 

 

$

0.19

 

TABLE 6

RINGCENTRAL, INC.

RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES

GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES

(Unaudited, in thousands)

   

 

Three Months Ended 
March 31,

 

2021

 

2020

Net cash provided by operating activities

$

36,955

 

 

$

13,069

 

Repayment of convertible senior notes attributable to debt discount

4,712

 

 

13,894

 

Non-GAAP net cash provided by operating activities

41,667

 

 

26,963

 

Purchases of property and equipment

(8,721

)

 

(6,861

)

Capitalized internal-use software

(9,757

)

 

(7,389

)

Non-GAAP free cash flow

$

23,189

 

 

$

12,713

 

TABLE 7

RINGCENTRAL, INC.

RECONCILIATION OF FORECASTED OPERATING MARGIN

GAAP MEASURES TO NON-GAAP MEASURES

(Unaudited, in millions)

       

 

Q2 2021

 

FY 2021

 

Low Range

 

High Range

 

Low Range

 

High Range

GAAP revenues

356.5

 

 

359.5

 

 

1,500.0

 

 

1,510.0

 

 

 

 

 

 

 

 

 

GAAP loss from operations

(82.8

)

 

(77.6

)

 

(319.4

)

 

(303.9

)

GAAP operating margin

(23.2

%)

 

(21.6

%)

 

(21.3

%)

 

(20.1

%)

Share-based compensation

104.0

 

 

99.0

 

 

420.0

 

 

410.0

 

Amortization of acquisition intangibles

12.0

 

 

12.0

 

 

49.0

 

 

46.0

 

Acquisition related matters

 

 

 

 

0.4

 

 

0.4

 

Non-GAAP income from operations

33.2

 

 

33.4

 

 

150.0

 

 

152.5

 

Non-GAAP operating margin

9.3

%

 

9.3

%

 

10.0

%

 

10.1

%

 

View source version on businesswire.comhttps://www.businesswire.com/news/home/20210504006255/en/

 

April 21, 2021

RingCentral Recognized as a 2021 Gartner Peer Insights Customers’ Choice for Unified Communications as a Service, Worldwide

BELMONT, Calif. — April 21, 2021 RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that it was named a Customers’ Choice in the April 2021 Gartner Peer Insights ‘Voice of the Customer’: Unified Communications as a Service (UCaaS), Worldwide report for both the large and mid-size enterprise. RingCentral® was the only vendor to receive the highest overall rating of 4.6 out of 5 stars, as of 28th February 2021 based on 126 reviews. 

Per the Gartner report, “In the UCaaS market, Gartner Peer Insights has published 1,193 reviews and ratings in the 12-month period, which ended on February 28, 2021. The overall rating is a measure of how satisfied existing customers are with a vendor’s product. The table in the report takes into consideration the number of reviews because ultimately, the more reviews a vendor receives, the more likely it is that you can trust a summary rating.”

“Being recognized as a Customers’ Choice in Gartner Peer Insights is an incredible honor for us at RingCentral,” said Anand Eswaran, president and chief operating officer at RingCentral. “Our customers are our North Star. Everything we do revolves around providing them with the best communications innovations so they can drive their businesses forward and empower their workforces to communicate effectively with customers and colleagues from anywhere.”

The following are examples of RingCentral customer reviews from Gartner Peer Insights:

●     "I have used RingCentral in my business for over 15 years and have found the product to be rock-solid and feature-rich. When we began recommending and offering UCaaS to our clients, we had an array of vendors to choose from but our go-to is invariably RingCentral.” - President in the Services Industry

●     “RingCentral worked hard to earn our business, giving us the most bang for our budget. They worked to make a transition of over 1,500 lines as seamless as possible. Their product has given us the ability to be much more agile in a time where employees are working both on-prem and remotely.” - Director of Technology in the Education Industry

●     "Overall the implementation of RingCentral phones, integration with contact center, hardphone and softphone calling, messaging, texting, virtual meeting rooms, have turned out to be a saving grace during the challenging Covid period. The ability of the company to enhance their product is another great plus. In addition to all this, their customer service and attention to clients' needs is top-notch. I would definitely recommend them to any SMB that needs to function like an enterprise corporation or an enterprise that needs flexibility and ease of management of their telecom investment." - Manager of IT Operations in the Healthcare Industry

●     "RingCentral has been an amazing company to partner with and delivered on all promises. The product continues to evolve delivering best of breed services and technology. The team is one of the best I've ever worked with." - IT Manager in the Services Industry

For more information, please click here.

Please see all the reviews here.

Gartner Peer Insights ‘Voice of the Customer’: Unified Communications as a Service, Worldwide, Peer Contributors, 9th April, 2021.

Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.

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.

 

April 20, 2021

RingCentral Rapidly Expands Capabilities of RingCentral Video

Belmont, Calif.— April 20, 2021RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced a range of new video and team messaging capabilities to enhance online meetings and enable people to effectively communicate and collaborate from anywhere. In addition, as people continue to work from anywhere, the RingCentral mobile app is gaining significant momentum. It is the highest rated app in its category on Google Play with a rating of 4.6 and among the top ranking apps in its category on the Apple Store with a rating of 4.6*.  

A select few new RingCentral Video capabilities include: 

  • Overlay: Enables users to keep audiences engaged during their virtual presentations by overlaying their video on top of the content on their screen, creating a “weather person” visual effect. Presenters can interact directly with the content by moving themselves around on the screen in order to guide the message and stay visually present throughout their journey. This helps the presenter hold the audience’s attention and allows the audience to keep an eye on the presenter while following the material being presented. 

  • Video virtual backgrounds: Along with static images, users can now upload video files as virtual backgrounds to have more fun during meetings and express themselves creatively while maintaining their privacy. Backgrounds such as a cosy fireplace or waves on the beach can be used to create an enjoyable virtual experience, and help users maintain a professional presence by hiding their physical backgrounds. 

  • Breakout Rooms: Meeting moderators can quickly split up participants into smaller groups for a side discussion or brainstorm during a video meeting. This feature can create an experience that is similar to an in-person group exercise for more interactive and intimate conversations. This capability will be available by the end of Q2 2021. 

  • Picture-in-picture: Allows meeting participants to multi-task within the RingCentral app during a meeting. Users can quickly reference conversations in team messaging through a separate window on their screen while participating in the live video meeting. 

A few new capabilities for team messaging are listed below: 

  • Personal folders: Enables users to group together relevant teams and conversations by creating folders for added ease and efficiency and improved organisation. 

  • Export message data: The message data export tool helps admins narrow down their search parameters, saving time and reducing the amount of data being exported. This type of feature enables companies to export historical messages for compliance needs.

  • External guest controls: Admins can elect which users have the ability to invite external guests into the organisation’s RingCentral system. Additionally, admins can choose whether external guests have the ability to start conversations with internal users.

  • Mobile app resource center: Instead of searching around for help and relevant resources, users can now access all of that in one place, directly from within their mobile app so they can resolve issues quickly, even while on-the-go.

“How we work is changing and the capabilities we need to have to communicate and collaborate will evolve,” said Nat Natarajan, executive vice president of products and engineering at RingCentral. “We are rapidly delivering new capabilities of RingCentral Video that not only make video meetings more enjoyable and more effective but combine video with team messaging so people can get more work done more effectively before, during, and after their meetings.”

To provide greater integration between different modes of communication, including message, video and phone, and to manage concerns for when people get back into their offices and ensure they are safe, we are announcing: 

  • Mobile phone as RingCentral Rooms controller: Users can start, join, and manage video meetings in any conference room using their own RingCentral mobile app (connecting to the room via Bluetooth) so they can avoid touching the shared controller tablet. As some workers begin to return to the office, while others remain at home, RingCentral Rooms allows all participants to join the meeting while adhering to the physical distancing requirements and without using the communal iPad or device to control the Rooms system. 

Roopam Jain, Industry Director for Unified Communications and Collaboration at analyst firm Frost & Sullivan, said, “The rapid pace of new video capabilities demonstrates RingCentral’s strong commitment to innovation and addressing the needs of today’s evolving hybrid workforce. The wide variety of new features that RingCentral has added to RingCentral Video™ will help drive even greater engagement for people working from anywhere - enabling them to connect and build relationships while driving business outcomes.”

RingCentral customer Elliot Hamby of Envera Systems, a leading provider of technology-based security solutions, said, “With RingCentral Video our customers and employees are able to join video meetings from a laptop or mobile phone with the click of a button and screen sharing is just as easy, which has helped us increase our productivity. We’ve been pleased to see the rapid pace of new innovations like virtual video backgrounds and closed captioning. We couldn’t be happier with our choice to embrace RingCentral as our unified communications platform.”

Cody Broderick, founder & CEO, inWhatLanguage, a RingCentral customer that provides innovative translation solutions, said, “RingCentral enables us to work smarter and faster by integrating video meetings and team messaging all in a single application. We have the RingCentral application on our laptops, mobile phones and tablets so we can communicate from anywhere on any device. We’ve been impressed with the speed of innovation and availability of new RingCentral Video features, like overlay presenter mode and breakout rooms, which have enabled us to share experiences both externally and internally as we continue to work together from anywhere to shape a better future.” 

For a full list of RingCentral Video features, visit https://www.ringcentral.com/hybrid-work-solutions.html. To learn more about some of the features we’ve announced today, read our latest blog

*Rating as of April 19, 2021

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 customise business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

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

 

April 15, 2021

Atos and RingCentral announce ‘Unify Video by RingCentral’ in Europe

Paris (France), and Belmont (California, US) - April 15, 2021 -  Atos and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions, today announced the launch of Unify Video by RingCentral in Europe. A standalone video with team messaging product, Unify Video is designed to enhance online meetings and enable people to work smarter and communicate and collaborate from anywhere.  

The new solution is a powerful entrant into the enterprise video collaboration market, which has seen rapid growth through the course of 2020. Unify Video, based on RingCentral’s integrated video meeting with team messaging solution, provides users with high quality and high-availability video meetings, seamlessly integrated with team messaging, file sharing, contact, task, and calendar management - resulting in a Smart Video Meetings™ experience. In addition, Unify Video offers secure video meetings based on WebRTC with seven layers of application security.

“Flexibility is key to continued productivity in these uncertain times.  Unify Video by RingCentral offers customers enterprise-grade quality video integrated with team messaging, delivered and operated from Europe ensuring that compliance requirements are met around data sovereignty and security,” said Robert Vassoyan, EVP, Head of Unified Communications and Collaboration and Head of Healthcare and Life Sciences at Atos. “We believe Unify Video by RingCentral is the natural next step for existing Circuit and Atos Unify OpenScape customers who are looking for a comprehensive cloud-based video and team messaging solution.”

Unify Video adopts RingCentral’s rapid innovation cycles and customers can enjoy industry-leading capabilities such as enhanced meeting security, noise reduction, cloud recordings, closed captioning, single sign on, no downloads, one click device switch and thousands of custom business app integrations.

Leveraging the existing Unify Office by RingCentral infrastructure, Unify Video will be delivered from the same data center in Frankfurt, Germany.

“Business communications has rapidly expanded from single mode video meetings to collaborative experiences that combine video and messaging to address pre-, during- and post-meeting needs,” said Anand Eswaran, president and chief operating officer at RingCentral. “Unify Video by RingCentral has been designed to make our meetings smarter. It combines great video capabilities with team messaging that enables real-time collaboration into one single solution while adhering to the specific needs of data protection of our European customers.” 

Availability

Unify Video will be available in Germany, France, Austria, The Netherlands, Spain, Italy and Belgium during Q2 with more countries to follow. Pricing starts from 8.99 Euros per user per month and be available directly from Atos at www.unifyoffice.com/now and from Atos Unify Channel Partners.

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 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, RingCentral Office, RingCentral Cloud PBX, Message Video Phone, MVP, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

 

April 14, 2021

RingCentral powers mass sleepout in the UK in fight against homelessness

London, UK –  April 14, 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), recently connected people across the UK as they participated in The Big Easter Sleepout At Home to fight homelessness and poverty. 

On April 1st, CEO Sleepout, a UK charity which supports organisations such as The Trussell Trust, encouraged families to give up their warm beds for a night to help raise money for the homeless. Due to the current restrictions, participants were asked to sleep ‘out’ either alone, or with the people they live with, in a safe location. RingCentral’s smart video and messaging platform, Glip®, played an essential role in keeping people connected for the night.

All participants had access to the Glip mobile app ahead of the night, with dedicated groups pre-assigned. RingCentral built a complete video programme of music, live chats and comedy including a show-stopping number from the musical "Dear Evan Hansen". Participants heard heartwarming stories from Kerri Douglas, who talked about her journey from becoming homeless at the age of 13 on the streets of London to author, speaker and mother of twins.

The charity also managed to raise £35,500 from the event this year. To date, CEO Sleepout has raised £2.8 million, donated to over 100 charities, and changed countless lives. Bianca Robinson, CEO of CEO Sleepout explains: “The Big Easter Sleepout is intended to bring compassionate people together to tackle the rising tide of homelessness we’re seeing as a result of the pandemic and lockdown measures. Sleeping out somewhere safe at home doesn’t come close to the horror of becoming homeless, but through the initiative--supported by RingCentral--we’re achieving three vitally important things; raising awareness of some of the issues surrounding homelessness, raising funds for charities on the front line of homelessness, and people are giving up their time and comfort to help others.”

Steve Rafferty, RingCentral UK MD, adds: “As a society, we’re going through an incredibly challenging time, and it’s vitally important that initiatives like the Big Easter Sleepout At Home can still go ahead. RingCentral enables people around the world to work from anywhere through our communications and collaboration solutions. It’s an honour to be able to share our technology for such a good cause.”

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, Glip, Message Video Phone, MVP, RingCentral Office and the RingCentral logo are trademarks of RingCentral, Inc.

 

March 31, 2021

RingCentral and Alcatel-Lucent Enterprise Announce the Availability of Rainbow Office, Powered by RingCentral, in Eight European Countries

PARIS, France & BELMONT, Calif. – March 31, 2021 – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, video meetings, and contact center solutions and Alcatel-Lucent Enterprise, a leading provider of communications, networking and cloud solutions, today announced the launch of Rainbow Office, powered by RingCentral, a Unified Communications as a Service (UCaaS) solution, in eight European countries including Austria, Belgium, France, Germany, Ireland, Italy, Spain, and the Netherlands.

Resulting from a strategic partnership between the two companies, Rainbow Office, powered by RingCentral, combines the latest in UCaaS technology from RingCentral with market-leading telephony and networking products and services from Alcatel-Lucent Enterprise’s portfolio.

“Businesses today need communications solutions that are modern, agile, and secure,” said Jack Chen, CEO of Alcatel-Lucent Enterprise. “With Rainbow Office, we are offering customers the communications solutions they need to be productive from anywhere in the world. The integrated team messaging, video, and cloud phone system capabilities from RingCentral, combined with our ability to deliver customized technology experiences to businesses in networking, communications, and cloud is a true differentiator in these markets.”

Leveraging Rainbow Office, business customers will be able to accelerate their migration to cloud communications solutions and be effective and efficient from anywhere, regardless of their location. 

“We believe that organizations need business communications solutions that meet the needs of people working from anywhere - whether that’s in the office, at home, a coffee shop, or anywhere in-between,” said Anand Eswaran, president and chief operating officer, RingCentral.  “With Rainbow Office, users can efficiently and securely collaborate from anywhere and on any device via a single enterprise solution. We are excited to partner with Alcatel-Lucent Enterprise to bring the power of our industry-leading integrated Message Video Phone™ (MVP™) platform capabilities to their customers.”

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.

About Alcatel-Lucent Enterprise 
Alcatel-Lucent Enterprise delivers the customized technology experiences enterprises need to make everything connect. 
ALE provides digital-age networking, communications and cloud solutions tailored to ensure customers’ success, with flexible business models in the cloud, on premises, and hybrid. All solutions have built-in security and limited environmental impact. 
Over 100 years of innovation have made Alcatel-Lucent Enterprise a trusted advisor to more than 830,000 customers in 100 countries around the world.
The privately-owned company with headquarters in France has over 2900 direct business partners worldwide, achieving an effective global reach with a local focus.

For more information: https://www.al-enterprise.com

LinkedIn, Facebook, Twitter, Instagram.

 

March 4, 2021

RingCentral Named a Leader in Two IDC MarketScape UCaaS Reports for Enterprise and SMB Segments

London, UK — March 4, 2021 — RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact centre solutions, today announced that it has been recognised as a Leader in two IDC MarketScape reports for UCaaS Enterprise and small and medium-sized business (SMB) market segments. The Enterprise report evaluates 19 different vendors that sell to organisations with 1,000 or more employees, while the SMB report evaluates 15 different vendors that sell to organisations with fewer than 1,000 employees. In both reports, RingCentral was named a Leader. 

The two new IDC MarketScape reports are:

IDC MarketScape: Worldwide UCaaS Service Providers for Enterprise 2021 Vendor Assessment (Doc #US47452521, February 2021) and
- IDC MarketScape: Worldwide UCaaS Service Providers for SMB 2021 Vendor Assessment (Doc #US47452421, February 2021)

IDC estimates that worldwide UCaaS service provider revenue, including Over the Top (OTT) providers, will reach $16.1 billion in 2024 in its Worldwide UCaaS Service Provider Forecast, 2020–2024 (Doc #US46763020, Aug 2020). As businesses look for ways to empower employees to communicate easily, share information, and meet as needed with colleagues, customers, and partners, opportunities to use UCaaS solutions expand around the world.

“Enterprises should consider RingCentral when they need a UCaaS platform that has an emphasis on security and reliability and has been integrated across a broad portfolio of unified communications and collaboration solution elements with access to a platform that comes with numerous integrations to enterprise software and services,” said Denise Lund, research director, Worldwide Telecom and Unified Communications at IDC. “RingCentral offers SMBs good value with its RingCentral Office solution, but the company has also made a significant investment in its free video conferencing and team messaging solution with RingCentral Glip, which will be available in the UK later this year, to address the entry point barrier for any business to easily start their journey to a full cloud communications solution.”

The 2021 IDC MarketScape Reports for Enterprise and SMB highlight a number of key strengths for RingCentral in each segment, but the commonality between the two reports include: 

  • Mobility: RingCentral has built its UCaaS solution with mobile as a major use case, an approach that allows it to be considered by organisations that have communications and collaboration needs for employees that have broad roles and may work outside of a set office environment.

  • Reliability and Security: RingCentral has a UCaaS platform that places an emphasis on reliability and security, with compliance on major standards (i.e., HIPAA and FINRA) that are important to its customers.

  • Integration capabilities: RingCentral offers a broad portfolio of unified communications and collaboration solution elements with access to a platform that comes with various integrations to enterprise software and services.

Carson Hostetter, senior vice president of Worldwide Field Sales at RingCentral said, “We’re observing a major shift in how we work, how we communicate, and how we collaborate. RingCentral is helping enterprise organisations support their workforce to work from anywhere with secure, reliable cloud-based communications. We’re proud to be recognised by the IDC MarketScape report as a Leader in UCaaS. The combination of an enterprise-ready platform that easily integrates with existing enterprise applications and adds capabilities such as team messaging, video meetings, and a cloud phone system is exactly what large organisations need to help their people work productively from anywhere.” 


Faiza Hughell, senior vice president for Small to Medium Business at RingCentral said, “Small and medium-sized businesses are at the heart of every economy in the world. Enabling those organisations to support their people working from anywhere with the same capabilities as larger firms is our business. We support them as their needs change and as they expand their business. We are thrilled that the IDC MarketScape report recognises our capabilities and our commitment to giving these organisations the very best communications capabilities.”


Results are based on the 2021 IDC MarketScape UCaaS reports. For more information on the Enterprise report, please view this complimentary excerpt. For more information on the SMB report, please view this complimentary excerpt

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.

About IDC MarketScape
About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilises a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

©  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 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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