RingCentral Press Releases

London, U.K. — November 19, 2020 - RingCentral UK Ltd., a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions and a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG) today announced that RingCentral Office®, the company’s flagship unified communications solution that includes team messaging, video and a cloud phone system, has achieved three internationally recognised 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. These certifications test the maturity of RingCentral’s processes and programmes against the highest international standards and demonstrate RingCentral’s ongoing commitment to ensure customers’ security and privacy.

“When your people are working from anywhere, providing secure and private cloud-based business communications are essential,” said Michael Machado, Chief Security Officer at RingCentral. “We are focused on ensuring our customers can run their business on a reliable, trusted, and secure communications platform. Adding internationally recognised ISO certifications for information security and privacy best practices demonstrates our ongoing commitment to protecting our customers.” 

The three ISO certifications include:

• ISO 27001: This certification recognises that RingCentral has designed and implemented a set of controls and measures to effectively manage risk and achieve compliance on a continual basis to protect customer information and data. The certification also demonstrates that RingCentral has a robust security programme with rigorous management activity and technical controls to address leading Confidentiality, Integrity, and Availability (CIA) principles of Information Security.

• ISO 27017: Provides guidelines for information security controls applicable to and specific to the provisioning and use of cloud services. RingCentral’s ISO/IEC 27017 certification demonstrates that the company extends its disciplined Information Security Management System (ISMS) to the operation of its cloud services.

• ISO 27018: Establishes commonly accepted controls and guidelines for implementing measures to protect Personally Identifiable Information (PII) for the public cloud computing environment. The ISO/IEC 27018 certification demonstrates RingCentral’s commitment to the privacy of its customers’ data. It further demonstrates that RingCentral, acting as a processor of its customers’ PII data, has implemented controls for protecting PII.

“Security and compliance are crucial parts of business communications as companies deploy solutions that enable their employees to work from anywhere and on any device," said Wayne Kurtzman, Research Director of Communities and Collaboration at IDC. "ISO certifications are frequently demanded by the enterprise and underscore a company's commitment to meeting those demands.” 

For more information about RingCentral’s ISO certifications, click here. 

About RingCentral 

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP™), customer engagement, and contact centre solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office, Message Video Phone, MVP, and the RingCentral logo are trademarks of RingCentral, Inc.

London, U.K. — November 17, 2020 — RingCentral UK Ltd. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today 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.

“Communications is the lifeblood of every company, now, more than ever,” said Anand Eswaran, president and chief operating officer, RingCentral. “The past few months have underlined the value of cloud-based communications in empowering employees to get work done, enhancing productivity, and delighting customers wherever they are. We think being recognized as a Leader in the Gartner Magic Quadrant for Unified Communications as a Service, Worldwide for the sixth year in a row is a testament to our innovation in cloud communications and the reliability and robust functionality of our platform, our global delivery capabilities, and most importantly, our commitment to helping customers bring their communications to the cloud.”

Over the last 12 months, RingCentral has focused on combining rapid product innovation with multiple strategic partnerships -- including Avaya, Atos and Alcatel-Lucent Enterprise -- to bring the benefits of RingCentral’s Unified Communications platform to more customers around the world. In particular, the launch of RingCentral Video, which enables customers with a fast, unified, open, and trusted video meetings experience for today’s work from anywhere environment. This completes RingCentral’s differentiated Message Video Phone^™ (MVP^™) solution. Additionally, RingCentral released a new collaboration-centric desktop app that includes MVP capabilities in a single solution for a streamlined experience.

Download a complimentary copy of the 2020 Gartner Magic Quadrant for Unified Communications as a Service, Worldwide report.

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.

*Source: 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. 

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone^™ (MVP^™), customer engagement and contact center solutions for businesses worldwide. 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’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.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, and the RingCentral logo are trademarks of RingCentral, Inc. Other third-party marks and logos displayed in this document are the trademarks of their respective owners.

London, U.K.– November 11, 2020 –   RingCentral UK Ltd., a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions and a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG), today released the findings of its Connected Culture Report revealing that employees working for companies that foster a “connected culture” are twice as likely (34% vs. 15%)  to be productive when working from anywhere, than those that don’t. The study defines companies that foster a “connected culture” as those that blend effective technology that helps teams stay connected with a commitment to supporting work/life balance, and frequent opportunities for people to interact with one another. As positive news about a vaccine emerges, the survey findings reiterate the important role employers play in building a culture that encourages employee productivity and well-being -- key factors for an engaged remote and hybrid workforce working from anywhere.

The study, conducted by CITE Research in partnership with Kaleido Insights, surveyed 4,000 knowledge workers across four countries, including 1,000 from across the UK, about how they have adapted and adjusted to this extended period of remote working with the onset of the pandemic.

“Since the pandemic hit the UK last March, forcing the nation into their homes, we have seen the debate over productivity while working remotely rage on. While some leaders have branded it ‘bad for business’, the results of this study show that an employee’s level of productivity is highly dependent on how far a company has gone to build a culture of connection - despite being separated physically,” said Steve Rafferty, country manager - UK & Ireland, RingCentral. “Sadly, this also means that for companies that were not ready for remote working before March, and have done very little to adapt subsequently, employee productivity and wellbeing will almost certainly have suffered as a result. As remote working looks to continue, businesses must stop resisting change and make the move to digital - bringing what made the company great offline, online through technology and social behaviour.”

The shift to WFH has not leveled the playing field

The Connected Culture Report also revealed a number of other impacts stemming from the sudden shift to remote working that need to be addressed by businesses.

   ●      According to the survey, men in the UK are handling remote work better than women during the pandemic. British women are reporting lower levels of happiness (36% vs. 43%) and motivation (32% vs. 44%) in comparison to their male counterparts. 

The reason for this disparity is rooted in the differences in working space at home.

   ●      Almost half of all UK male respondents stated that they have a dedicated office space with a closed-door; while just over a third of women noted having the same professional set-up at home. Unsurprisingly, only 34% of women are keen to continue working from home post-pandemic.

Those under the age of 25 are also being unfairly disadvantaged.

   ●      Despite the majority having a dedicated workspace at home, almost half of those under 25 would prefer to work from the company office post-pandemic. A stark contrast to Generation Xers: less than a third want to go back to the office post-pandemic, with 40% wanting to work from home going forward.

Yet, according to the study, fear and loneliness are pushing Gen Z back to the office.

   ●      60% cited a lack of human connection being the biggest downside to working remotely, and just over a third (32%) believe long-term home working will lead to a lack of progression or career advancement.

In a bid to level the playing field during the pandemic, many UK companies have been taking a hybrid approach - allowing workers to split their time between home and office during the working week. Yet, according to the study, only 23% of all office workers surveyed showed any interest in working this way post-pandemic.

"The results of this study are so meaningful in the way they show concrete steps any business can take towards adopting a connected culture. It is what employees want,” said Anand Eswaran, president and chief operating officer, RingCentral. "Our company is founded on the power of connecting people. The study validates our belief that harnessing that power leads to a productive and engaged remote workforce, as well as the hybrid workforce we anticipate in the future.”

For more details, read the Connected Culture Report.

Methodology

   ●      CITE Research working with Kaleido Insights conducted an online survey among Knowledge Workers in the US, UK, Canada, and Australia.

   ●      Total of 4,000 surveys were completed among Knowledge Workers (N=1000 per country).

   ●      Research was conducted between July 15-July 23, 2020.

   ●      Screening criteria:

          ○      Workers on a laptop or computer always

          ○      Collaborates with others constantly or sometimes

          ○      Works at a company with at least 2 employees

          ○      Ages 18+ although 35-44 was most common response group

          ○      53% are in a detached, single family home

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone^™ (MVP^™), customer engagement and contact center solutions for businesses worldwide. 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’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.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, and the RingCentral logo are trademarks of RingCentral, Inc.

BELMONT, Calif. — November 9, 2020 — RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today 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. 

“Mignon is an accomplished leader with a successful track record in many different fields. She has been a tireless advocate for addressing the digital divide and promoting diversity and inclusion. We’re delighted she is bringing all those incredible experiences and insights to RingCentral,” said Vlad Shmunis, founder, chairman, and CEO, RingCentral. “I am looking forward to her contributions as we continue to grow RingCentral and scale around the world.”

“It’s great to be joining the RingCentral board at such an important time for cloud-based communications,” said Clyburn. “Cloud business communications solutions are more critical than ever to help people work productively from anywhere, while enabling organizations to be successful and contributing to our economic recovery. RingCentral is at the heart of leading this technology trend, and I’m looking forward to working with my fellow board members.”

Previously, Ms. Clyburn served as a Commissioner of the U.S. Federal Communications Commission (the “FCC”) from 2009 to 2018, including as acting chair. While at the FCC, she was committed to closing the digital divide and championed the modernization of the agency’s Lifeline Program, which assists low-income consumers with voice and broadband service. In addition, Ms. Clyburn promoted diversity in media ownership, initiated Inmate Calling Services reforms, supported inclusion in STEM opportunities and fought for an Open Internet. Prior to her federal appointment, Ms. 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.

Ms. Clyburn is President of MLC Strategies, LLC, a Washington, D.C.-based consulting firm, a position she has held since January 2019. Ms. Clyburn is also a board director and member of the Compensation Committee and Nominating and Corporate Governance Committee of Charah Solutions, Inc. (NYSE: CHRA) since March 2019. In addition, she has served on the board of directors and as a member of the Nominating and Corporate Governance Committee of Lions Gate Entertainment Corporation (NYSE: LGF.A) since September 2020.
 

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone^™ (MVP), customer engagement and contact center solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Global Office, RingCentral Global Connect Network, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.

London, U.K., & Belmont, Calif. November 9, 2020 – BT, the UK’s leading telecommunications and network provider, and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced an expanded partnership to accelerate the adoption of cloud-based communications and support the digital transformation of businesses across the UK. Cloud Work provided by RingCentral will be a lead Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) offering for BT with small, medium and large sized UK enterprises, as well as public sector customers.  

Combining the best of BT’s network leadership and resources with RingCentral’s industry-leading technology, Cloud Work provided by RingCentral, brings reliable, trusted and secure cloud-based communications to organizations across the UK. With integrated voice, video, and team messaging capabilities, the solution provides a seamless communications experience for distributed workforces to collaborate effectively and be productive from anywhere, anytime.

“As businesses continue to navigate through the complexities of Covid-19, our extended partnership with RingCentral reinforces a commitment and shared vision of bringing innovative communications solutions to our customers so they can thrive now, and put the right building blocks in place for a successful post-pandemic workplace,” said Ashish Gupta, Chief Operating Officer, BT’s Enterprise Unit. “Every organization is adopting new remote and digital ways of working, with varying degrees of complexity. By collaborating with partners like RingCentral, we’re focused on removing this complexity for our customers to enable a successful digital transformation journey.”

 Key benefits of Cloud Work provided by RingCentral include:

·         Improved flexibility and productivity as workers can connect anytime and from anywhere with a single, integrated team messaging, video and phone solution

·         Single business identity enabling enterprises to manage multiple office locations, create an auto receptionist, route calls, and manage directory listings

·         Seamless integration with all critical business applications and cloud services empowering the workforce to use the cloud and collaborate like never before

·         Access to a professional services support team of industry experts to assist with initial planning, strategic consultations, comprehensive implementation or integration designs, and provide ongoing support and system training.

“Today people need to work and collaborate productively from everywhere, and that’s what we focus on enabling at RingCentral,” said Anand Eswaran, President and Chief Operating Officer, RingCentral. “We’re delighted to extend our partnership with BT to make our solution available to a broader set of BT’s customers and deliver additional productivity, quality, and cloud economies of scale through tighter integration with BT’s leading fixed and wireless network.”

Cloud Work provided by RingCentral will be available through BT’s Account managers (Corporate and Major Corporate), BT Local Businesses, and through dedicated telesales and call centers. Cloud Work service is provided by RingCentral UK, Ltd., a wholly owned subsidiary of RingCentral, Inc.

To learn more about Cloud Work provided by RingCentral, visit https://business.bt.com/products/cloud-work/. To learn more about RingCentral, visit ringcentral.com.

About BT
BT Group is the UK’s leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.

For the year ended 31 March 2020, BT Group’s reported revenue was £22,905m with reported profit before taxation of £2,353m.

British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.

For more information, visit www.bt.com/about.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Global Office, RingCentral Global Connect Network, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.

RingCentral Office® ARR up 36% to $1.1 billion

Subscriptions Revenue up 33%
 

Belmont, Calif. – November 9, 2020 – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced financial results for the third quarter ended September 30, 2020.

Third Quarter Financial Highlights

•          Total revenue increased 30% year over year to $304 million.

•          Subscriptions revenue increased 33% year over year to $280 million.

•          Annualized Exit Monthly Recurring Subscriptions (ARR) increased 34% year over year to $1.2 billion.

•          RingCentral Office^® ARR increased 36% year over year to $1.1 billion.

•          Mid-market and Enterprise ARR increased 49% year over year to $633 million.

•          Enterprise ARR increased 55% year over year to $401 million.

•          Channel ARR increased 59% year over year to $419 million.

“We delivered a solid third quarter driven by strong new logo momentum across SMB, mid-market, and enterprise sized businesses and continued contributions from channel partners,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “We are excited to add Alcatel-Lucent Enterprise and expand our relationship with BT as we further expand and deepen our unique global distribution network. We believe our customers and partners are embracing RingCentral’s differentiated Message Video Phone (MVP) cloud platform as a go forward staple of their digital transformation journeys.”

Financial Results for the Third Quarter 2020

•          Revenue: Subscriptions revenue of $280 million increased 33% year over year and accounted for 92% of total revenue. Other revenue of $24 million increased 7% year over year, reflecting higher adoption of RingCentral apps in the current work from anywhere environment. Total revenue was $304 million for the third quarter of 2020, up from $233 million in the third quarter of 2019, representing 30% growth.

•          Operating Income (Loss): GAAP operating loss was ($30) million, compared to a GAAP operating loss of ($11) million in the same period last year, primarily driven by higher share-based compensation and amortization of acquisition intangibles. Non-GAAP operating income was $31 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 diluted share was ($0.24), compared to ($0.15) in the same period last year, primarily driven by higher share-based compensation, amortization of acquisition intangibles, and amortization of debt discount and issuance costs, offset by gains associated with investments and strategic partnerships. Non-GAAP net income per diluted share was $0.26, compared to $0.22 per diluted share in the same period last year. The third quarters of 2020 and 2019 reflected a 22.5% non-GAAP tax rate. There were no material cash taxes given our net operating loss carryforwards.

•          Cash and Cash Equivalents: Total cash and cash equivalents at the end of the third quarter of 2020 was $746 million, which reflects a one-time payment related to our recent strategic partnership for exclusive access, a minimum seat commitment, and future commissions. This compares to $774 million at the end of the second quarter of 2020.

Additional Highlights

RingCentral Video

•          Announced that RingCentral has released more than 70 new features to RingCentral Video^™  since it launched in April 2020. Key innovations include security enhancements, waiting rooms, flexible video layouts, participant view pagination, and network quality indicators. We believe this rapid innovation makes business video meetings fast, smart, open, and secure while delivering a great user experience within a browser, with no downloads required, or via mobile or desktop apps, as per user preference. Also announced that RingCentral Video^™ is now available as part of the RingCentral Office^® solution in Europe.

•          Based on these innovations, RingCentral Video^™ has been recognized by the Academy of Interactive and Visual Arts with a W3 Gold award in the General Website Applications-Services category. RingCentral Video also received two W3 Silver awards for Best Visual Appeal - Experience and Best Visual Appeal - Utility.

•          Announced RingCentral Rooms^™ for Poly, bringing the power and ease-of-use of RingCentral Video^™ to every work space. Designed for a flexible and hybrid workforce, the powerful and intuitive RingCentral Rooms service will be built into the simple Poly Studio X all-in-one video bars.

MVP Platform

•          Announced a new high-volume SMS service that enables businesses to send SMS messages and updates to their customers rapidly and reliably. Using this service, developers can build customized apps using RingCentral’s business communications platform for use cases such as mass marketing, automated messages, notifications, customer polls/surveys, chatbots, Two-Factor Authentication (2FA), and One Time Passwords (OTP).

•          Announced that RingCentral is now featured in the new Amazon Web Services (AWS) Activate Console Exclusive Offers program. This means startups building on AWS can now access customized, discounted offers on RingCentral Office^® directly through the AWS Activate Console.

•          Announced that RingCentral Global Office^™ will be available in six continents including Africa, Asia, Australia, Europe, North America, and South America, with expansion into several countries including Estonia, Greece, Lithuania, Slovenia, and South Africa. Also announced RingCentral’s unified communications platform will now be available in Germany with a new datacenter in Frankfurt, and a new office in Hamburg, Germany.

Strategic Partnerships

•          Announced a strategic partnership with Alcatel-Lucent Enterprise to introduce a new co-branded cloud solution - Rainbow Office powered by RingCentral - making it unique and exclusive for Alcatel-Lucent Enterprise. RingCentral and Alcatel-Lucent Enterprise will jointly develop programs enabling both companies to lead the cloud communications services for the enterprise market.

•          In partnership with Atos SE, launched Unify Office by RingCentral in Germany and its strong partner community of 800 partners, as well as in France, Austria, Belgium, Ireland, Italy, Spain and the Netherlands.

•          Announced expansion of Avaya Cloud Office^™ by RingCentral^® across Europe, with general availability in France, Ireland, and the Netherlands. In addition, announced several new ACO capabilities including additional network performance and quality controls, admin and security controls, and adoption and usage analytics.

Financial

•          Issued $650 million aggregate principal amount of 0% Convertible Senior Notes due 2026 priced with a 52.5% conversion premium to the last reported sale price per share of RingCentral’s Class A common stock on September 10, 2020 (‘last reported price’). We also purchased a capped call in conjunction with these Notes with a cap price of approximately $556 per share, representing a premium of 100% over the last reported price.

Financial Outlook

Full Year 2020 Guidance:

•          Raising subscriptions revenue range to $1.070 to $1.072 billion, representing annual growth of 31%. This is up from our prior range of $1.043 to $1.048 billion and annual growth of 28%.

•          Raising total revenue range to $1.164 to $1.167 billion, representing annual growth of 29%. This is up from our prior range of $1.135 to $1.143 billion and annual growth of 26% to 27%.

•          GAAP operating margin range of (9.9%) to (9.8%), up from our prior range of (10.8%) to (10.1%).

•          Non-GAAP operating margin of 9.7%, up from our prior range of 9.6% to 9.7%.

•          Non-GAAP tax rate for 2020 assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.

•          Raising non-GAAP EPS to $0.96 based on 93 million fully diluted shares. This is up from our prior range of $0.92 to $0.94.

•          Share-based compensation range of $190 to $191 million, amortization of debt discount and issuance costs of $49 million, amortization of acquisition intangibles of $34 million, and acquisition related matters of approximately $2.6 million.

Fourth Quarter 2020 Guidance:

•          Subscriptions revenue range of $290.5 to $292.5 million, representing annual growth of 27% to 28%.

•          Total revenue range of $315 to $318 million, representing annual growth of 25% to 26%.

•          GAAP operating margin range of (9.8%) to (9.2%).

•          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 $0.26 to $0.27 based on 93 million fully diluted shares.

•          Share-based compensation range of $53 to $54 million, amortization of debt discount and issuance costs of $16 million, and amortization of acquisition intangibles of $8.5 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, 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 2020, 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 third quarter of 2020 and outlook for the fourth quarter and full year of 2020.

•          When:  Monday, November 9, 2020 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 November 16, 2020, a telephone replay will be available by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally with recording access code 13711153.

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 cloud Message Video Phone (MVP), customer engagement and contact center solutions for businesses worldwide. 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’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.

©2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office, RingCentral Video, Message Video Phone, 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 SMB, mid-market and enterprise, contributions from channel partners, the success of our RCV solution, the success of our strategic relationships, such as our relationships with Avaya, Atos, Alcatel-Lucent Enterprise, and BT, our ability to expand and deepen our global distribution network, our market opportunity, 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, Alcatel-Lucent Enterprise, and BT; 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 RCV; 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 June 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, 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.

(1) Income tax expense effects for the nine months ended September 30, 2019 include the tax benefit from release of valuation allowance.

View source version on businesswire.com: 

https://www.businesswire.com/news/home/20201109006086/en/

London, United Kingdom – October 13, 2020 – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced that RingCentral Global Office™ a unified solution that includes team messaging, video meetings, and a cloud phone system will be available in six continents including Africa, Asia, Australia, Europe, North America, and South America. RingCentral is also announcing expansion into several countries -- Estonia, Greece, Lithuania, Slovenia, and South Africa. 

RingCentral Global Office enables businesses to connect their mobile and distributed workforces across multiple countries with local phone numbers, PSTN access, and other capabilities. The unique capabilities available to customers include: 

1. Licensing and Regulatory: Manages regulatory challenges on behalf of customers, enabling them to operate in compliance with local laws and regulations 

2. Emergency Services: Automatically provides the caller's location to emergency dispatchers

3. Security and Compliance: Provides robust security measures at every level of the architecture and processes, and support for regional certifications and frameworks such as ISO 27001, UK Cyber Essentials and complies with the German requirements of Cloud Computing Compliance Controls Catalog (C5)

4. Quality of Service and Service Level Agreement (SLA): Enables access to key operational Quality of Service metrics in near real-time to monitor the phone system's global health and proactively diagnose and troubleshoot issues, backed by an industry-leading 99.999 percent SLA 

5. Language localization: Enables users to seamlessly change language settings, setup multilingual IVRs, receive localised voice prompts, and more in over 10 languages

"When you expand a unified communications platform globally, it’s critical you meet all the local regulatory compliance, security, and Service Level Agreement (SLA) needs of those countries,” said Anand Eswaran, president and chief operating officer, RingCentral. “With RingCentral, customers can rest assured that they will get all the key capabilities to keep their global teams and customers connected. We are helping our customers move from legacy on-premise communications systems to the cloud with all the inherent benefits of reduced costs, higher flexibility, and increased capabilities.”

RingCentral offers its services via its cloud-based RingCentral Global Connect Network™, a redundant service delivery architecture built from the ground up and interconnects directly with service providers enabling RingCentral to provide carrier-grade reliability and quality of service globally. The RingCentral Global Connect Network is a purpose-built framework with the carrier peering relationships necessary to provide local service in various countries. By handling the interconnects directly, RingCentral removes the burden on enterprise customers of setting up and managing on-premise systems in other countries. Unlike other cloud competitors, RingCentral does not lease lines or outsource service delivery to third parties.

For customers who have a presence in multiple countries, they have traditionally had the complex problem of managing multiple legacy phone systems and multiple carrier relationships. RingCentral eliminates the need for businesses having to manage this complexity with its single global platform. Customers can also leverage Bring Your Own Carrier (BYOC)  in most of the world, which offers the customer flexibility to use another PSTN provider to power their RingCentral solutions. This brings the added benefit of extending RingCentral services to additional countries, flexible migration to the cloud at the customer’s pace, and the ability to leverage existing carrier contracts.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Global Office, RingCentral Global Connect Network, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.

Paris, France and Belmont, Calif.– September 30, 2020 – Atos SE (CAC40: ATO), a global leader in digital transformation and RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced the launch of Unify Office by RingCentral in Germany.

Unify Office by RingCentral combines the very latest Unified Communications as a Service (UCaaS) technology with the knowledge and insights of the German communications market from Atos and its strong partner community of 800 partners. The result is a unique set of capabilities that will enable German organizations to communicate and collaborate effectively from anywhere, on any device, using any mode.

Ursula Morgenstern, Atos Germany CEO, commented, “Atos has been at the forefront of Communications and Collaboration technology in Germany for many years. To be able to bring the world leader in UCaaS to Germany and tailor Unify Office to this market is an honor. RingCentral’s RCause signature Corporate Social Responsibility Program aligns perfectly with our own vision of a decarbonized digital future.”

Unify Office by RingCentral enables employees to leverage Message, Video, and Phone system capabilities and several out-of-the-box integrations with business applications they love so businesses can remain connected and productive from anywhere, as they continue to adapt to the new ways of working.

“We’re excited to see Atos bring the very latest business communications technology to Germany with Unify Office by RingCentral. With Atos, we have a market leading partner who knows the German unified communications and collaboration market,” said Sahil Rekhi, vice president, Global Strategic Partnerships, RingCentral. “Together with Atos, we are offering users a custom-built solution that will give them access to leading cloud communications technology, enabling them to stay connected and remain productive from anywhere and on any device.”

Unify Office by RingCentral offers customers several benefits including:

• Data Residency: All customer data will reside in RingCentral’s Frankfurt datacenter ensuring the highest data protection, residency, and back up standards. The datacenter is supplied by 100 percent renewable energy.
• Language support: 24/7 365 day German language support by Atos to meet local customer needs.
• Seamless migration: Atos unified cloud communications and collaboration offers customers a dedicated product management team to ensure seamless migration from existing Atos Unify products to Unify Office by RingCentral and feature parity.
• Security and Reliability: Unify Office by RingCentral offers a safe, stable, and secure solution with more than 20 years of product development behind it, 24/7 platform monitoring and 99.999 percent uptime SLA guaranteed.
• Global footprint: Unify Office enables customers to deploy a single global solution across more than 40 countries without the need to deploy multiple on-premise systems. Solution is localized in more than 10 languages.

Unify Office by RingCentral will be available directly from Atos at www.unifyoffice.com as well as leading local Atos Unify partners including KOMSA, Herweck and ALSO.

Purchasing association Gemeinschaft Fernmelde-Technik eG  (GFT) will support their partners with test access to Unify Office by RingCentral to familiarize them with the solution and aid onboarding. “We’re proud to be a launch partner for Unify Office by RingCentral in Germany. Its transformational capabilities will offer our partners and customers new ways of creating integrated digital workplaces,” said Rudolf Saken, Sprecher des Vorstands der GFT.

About Atos
Atos is a global leader in digital transformation with 110,000 employees in 73 countries and annual revenue of € 12 billion. European number one in Cloud, Cybersecurity and High-Performance Computing, the Group provides end-to-end Orchestrated Hybrid Cloud, Big Data, Business Applications and Digital Workplace solutions. The Group is the Worldwide Information Technology Partner for the Olympic & Paralympic Games and operates under the brands Atos, Atos|Syntel, and Unify. 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.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone (MVP), customer engagement and contact center solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

London, United Kingdom, –September 29, 2020 –  Avaya Holdings Corp. (NYSE: AVYA) and RingCentral Inc. (NYSE: RNG) today announced the expansion of Avaya Cloud OfficeTM by RingCentral® across Europe, with the solution now generally available in France, Ireland, and the Netherlands. In addition, the companies also announced that they have signed their first seven-figure deal with a large United Kingdom-based Government customer.

This geographic expansion of Avaya Cloud Office follows the launch of the solution in Canada, the United Kingdom, and Australia in June and the United States in March. Since then, the solution has seen uptake continue to accelerate, with a growing number of new customers being signed across every country in which Avaya Cloud Office is available.

“It is now more important than ever before that vendors in UC&C are able to provide UCaaS for clients both new and potential,” said Oru Mohiuddin, Research Manager Enterprise Communications & Collaboration, IDC. “According to the IDC Europe forecast¹, UCaaS will grow at a compounded annual growth rate of 23.3 percent between 2019 and 2023, higher than 17.1 percent as anticipated during the pre-COVID-19 period. Avaya Cloud Office is now available in France, Ireland, and the Netherlands and follows the success that Avaya has seen in North America, Australia, and other European countries. This is to facilitate remote collaboration as working from home becomes the new norm in the post-crisis period. It is, however, not just enough to provide UCaaS – it needs to be customizable, flexible, modular, agile, frictionless, scalable, omnichannel, and secure to cater to the varying needs of enterprises.”

Following today’s announcement, organizations in France, Ireland and the Netherlands will benefit from the same recently announced features that are available to all Avaya Cloud Office customers, including additional migration tools, enhanced devices support, along with advanced telephony management and other capabilities.

“Avaya Cloud Office is generating tremendous return on investment for our customers, who  appreciate the flexibility and reliability the solution provides,” said Dennis Kozak, SVP, Business Transformation, Avaya. “Over the last quarter, we have activated an eager base of customers and partners with this compelling UCaaS offer. As we expand availability of Avaya Cloud Office across Europe, we look forward to enabling more customers to achieve positive business outcomes as they transition to new ways of work and engagement.”

In addition to the recently announced features, Avaya Cloud Office customers will enjoy new capabilities, such as:

• Avaya branded unified desktop app: Entirely reimagines the user experience for enterprise communications. The clean and refreshed redesign of the desktop application enables users to be more productive with an integrated experience between messaging, video, and phone services in one place. It will also let users switch from different devices while participating in video meetings. 
• Avaya branded video: Offers a full meeting experience from a web browser so users do not have to download any application and can get their meetings started faster than before.
  
• Network performance and video quality controls: Admins can set up custom alerts that proactively notify them of call quality and device status issues that could impact teams.
• Admin & security controls: Provides hosts with multiple security options when scheduling, starting, or managing on-going meetings to prevent unwanted participation.
• Adoption and usage analytics: Provides insight into usage data to identify areas of improvement and discover ways to help customers get the most out of Avaya Cloud Office. 

“The need for modern cloud communications has only become more pronounced since we jointly launched Avaya Cloud Office in March 2020, with many organizations realizing the benefits of a powerful UCaaS solution,” said Phil Sorgen, Chief Revenue Officer, RingCentral. “Avaya Cloud Office helps meet the communications needs of these organizations, and we continue to see adoption as we roll it more broadly worldwide. We look forward to expanding the ability of our joint European customers to take advantage of these capabilities.”

Avaya has initiated a comprehensive go-to-market strategy in Europe, having announced new master agent partnerships to meet the growing regional demand for Avaya Cloud Office. Avaya has signed a new master agent agreement with Itancia and ScanSource to rapidly enable adoption of the solution in France. The Netherlands will see Avaya Cloud Office offered by ScanSource. Finally, Avaya has expanded its master agent agreement with Westcon so that it now covers Ireland, France and the Netherlands.

¹Source: The Impact of COVID-19 on European Unified Communications and Collaboration doc # EUR146381420.

About Avaya
Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya Holdings Corp. (NYSE: AVYA). Avaya is shaping what's next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalized, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering Experiences that Matter. Learn more at https://www.avaya.com

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premises systems, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect from any location, on any device, and via any mode. RingCentral provides unified voice, video meetings, team messaging, digital customer engagement, and integrated contact center solutions for enterprises globally. RingCentral’s open platform integrates with leading business apps and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world. © 2020 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

Cautionary Note Regarding Forward-Looking Statements
This document contains certain “forward-looking statements”, including but not limited to, statements regarding the anticipated impact and benefits of Avaya Cloud Office. All statements other than statements of historical fact are “forward-looking” statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," “our vision,” "plan," "potential," "preliminary," "predict," "should," "will," or “would” or the negative thereof or other variations thereof or comparable terminology. RingCentral and Avaya have based these forward-looking statements on their current expectations, assumptions, estimates and projections. While RingCentral and Avaya believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond their control. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including risks related to the parties’ ability to successfully perform their obligations under the commercial arrangement, the parties ability to successfully market, sell and transition customers to Avaya Cloud Office, as well as those risks and uncertainties discussed in RingCentral’s and Avaya’s respective Annual Reports on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) available at www.sec.gov. RingCentral and Avaya caution you that the list of important factors included in their respective filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not in fact occur. Neither RingCentral nor Avaya undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Source: Avaya Newsroom

London, United Kingdom, -- 28, September 2020 -- RingCentral UK Ltd., a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions and a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG), today announced that RingCentral Video™ (RCV), a reimagined video meetings experience for businesses, will now be available as part of the RingCentral Office® solution in Europe. In addition, the company has also announced that customers can now extend their RingCentral Video experience into their conference rooms with RingCentral Rooms™ and with RingCentral Rooms for Poly.  

“Businesses are enabling their people to work from anywhere and stay connected. It’s becoming increasingly important that the communications platform and tools businesses are using are secure and trusted,” said Will Moxley, chief product officer, RingCentral. “RingCentral Video, offered as part of RingCentral Office, is designed to provide the best security option for business video meetings, whether you are remote, or returning to the office. Additionally, we are focused on building solutions and technologies that are not only designed for today, but also the post-pandemic world. We want to ensure that the RingCentral Video experience is extended into modern collaboration spaces - be that at home, in the office, or anywhere else. The launch of RingCentral Rooms and RingCentral Rooms for Poly across Europe is the next step in our strategy as we continue to transform the meetings experience for the fast emerging hybrid workforce regardless of where they are working, so they can be productive and effective from anywhere.” 

RingCentral Video 

RingCentral Video offers several key capabilities, including: 
•  Unified: RingCentral Video is integrated with team messaging and global cloud phone system capabilities, including business voice and fax, all tightly integrated enabling people and teams to collaborate across all modes of communication without losing context.

•  Fast: RingCentral Video offers a complete browser-based experience, leveraging and extending Google Chrome's WebRTC, so users do not have to download an application to join, host, or schedule a meeting. 

•  Secure: RingCentral offers rich admin, host and user settings such as host and moderator controls for audio, video, chat and screen share, meeting passwords, waiting room, and user authentication for meeting join, make the overall meetings experience ideal for enterprises who are seeking secure business communications solutions.  

•  Trusted: RingCentral is committed to customers’ privacy. Per the company’s privacy policy, RingCentral does not rent or sell any of its customers’ personal information. In addition, RingCentral Video and RingCentral Office meet GDPR, CCPA, and HIPAA privacy and security requirements. 

•  Reliable: RingCentral Video is built on a new, state-of-the-art, high-availability infrastructure that leverages years of RingCentral’s experience as a global Unified Communications as a Service (UCaaS) leader for secure and reliable business communications..

•  Open: Leveraging RingCentral’s open platform, RingCentral Video is tightly integrated with popular business productivity applications such as Google (G Suite and Gmail), HubSpot, Microsoft (Teams and O365), Slack, Theta Lake, and Zoho. RingCentral for Salesforce is available on Salesforce AppExchange. Coming later, RingCentral will add numerous integrations including those with Canvas, Epic, Gong.io, and Zendesk.

•  Smart: RingCentral Video includes a robust analytics platform that gives IT system administrators access to Key Performance Indicators (KPIs) such as adoption, usage, and Quality of Service (QoS) metrics. Easy to read dashboards help administrators deliver a seamless communications experience across their companies globally.

“As employees switched from their desks in the office to the kitchen table at home, eliminating in-person meetings almost entirely during the pandemic, organisations have had to rethink the meetings experience," said Oru Mohiuddin, Research Manager Enterprise Communications & Collaboration, IDC. “Video meetings have been designed to facilitate seamless remote collaboration through an intuitive interface and necessary features such as content sharing for a hybrid workforce to drive business efficiency and long-term goals.”

RingCentral Rooms and RingCentral Rooms for Poly

RingCentral Rooms transforms meeting rooms of any size into cloud-based video collaborative spaces, where both in-office and remote teams can work together face-to-face. RingCentral Rooms leverages the hardware that many meeting rooms are already equipped with (cameras, TVs, speakers, and computers) in order to help minimize the need for complicated initial IT deployment and set-up.

In addition, RingCentral Rooms built in partnership with Poly consolidates meeting rooms’ hardware needs while enabling a new wave of room intelligence, analytics, and manageability. Specifically designed to simplify large-scale RingCentral Room deployments, these turnkey solutions from Poly enable frictionless procurement, faster installs, and an easy management experience.

RingCentral Rooms for Poly is generally available to all customers in the US and Europe and is fully integrated with Poly Studio X30 and Poly Studio X50 plug-and-play USB video bars which bring simplicity, convenience, and a seamless modern meeting experience to physical workspaces.

RingCentral Rooms for Poly offers one-touch robust video, audio, and web conferencing capabilities, allowing teams to enjoy the following benefits:
•  Collaboration with anyone, anywhere: RingCentral Rooms allows users to instantly connect and collaborate with other participants joining from anywhere on any device with a one-tap interface.

•  Modern workspace for rooms of all sizes: Teams can utilise advanced conferencing services, from digital whiteboards to wireless file and screen sharing through Wi-Fi or AirPlay Mirror, all wrapped into a touch-based, high-quality collaboration experience.

•  Easy to deploy, monitor, and manage: IT teams can set up a cloud-based telepresence room with off-the-shelf equipment, avoiding costly proprietary endpoints and complicated configuration. With a single iPad controller, the host can manage camera functions, speakers, and participants during online meetings.

•  Consistent and unified experience: Built on the RingCentral platform, users enjoy a simple, interactive experience that is seamless across RingCentral Video and RingCentral Team Messaging™.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Rooms, RingCentral Video, RingCentral Office, RingCentral Team Messaging, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc. Poly and Poly Studio are trademarks of Plantronics, Inc.

London, United Kingdom — September 23, 2020 — RingCentral UK Ltd (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced its unified communications platform that includes team messaging, video meetings, and cloud phone system will now be available in Germany with a new datacentre in Frankfurt, and a new office in Hamburg, Germany.

As RingCentral continues its global expansion efforts, Germany remains a key strategic location for the company. The new datacentre in Germany will enable compliance with local regulatory guidelines and laws. RingCentral will offer customers local data storage, the ability to register endpoints in-country, and keep voice and video call media local. The new datacentre will also give users access to local phone numbers and emergency services in compliance with local laws and regulation. All team messaging, voicemails, audio and video recordings, call logs, faxes and analytics data will also be stored locally.

In addition, as a cloud communications and collaboration provider, RingCentral complies with the European Union’s requirements of Cloud Computing Compliance Criteria Catalogue (C5), which is a baseline of security controls that was developed by the Federal Office for Information Security in Germany. 

“We’ve always been focused on helping businesses modernise communications with the cloud solutions that enable their workforce to be productive regardless of their location. The current environment has accelerated the need for a solution that is easy to use, scalable, trusted and secure,” said Ashu Varshney, senior vice president, Service Operations and Security, RingCentral. “We are excited to begin offering our customers in Germany a unified communications solution enabling them to communicate and collaborate seamlessly regardless of their industry or location.”  

RingCentral offers its customers a cloud-based unified communications platform that combines team messaging, video conferencing, and cloud telephony in a single application. RingCentral’s open API platform already integrates more than 4,000 services and applications, including leading business applications from Google, Microsoft, and Salesforce. RingCentral enables organisations to increase productivity and accelerate business processes by unifying their communications services.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

Paris, France and Belmont, Calif.– September 21, 2020 – Atos SE (CAC40: ATO), a global leader in digital transformation and RingCentral, Inc. (NYSE: RNG), ), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced the first release of Unify Office (UO) by RingCentral in France. It will also be available in Austria, Belgium, Ireland, Italy, Spain and The Netherlands.

Pierrick Belledent, Head of the Business Information Department at the Ecole Normale Supérieure (ENS), which uses Unify Office by RingCentral, explains: “The pandemic has made it necessary to virtualize our exam grading process, which is a key strategic activity for the school.  Our partnership with RingCentral and Atos enabled us to carry out remote sessions by allowing teachers to collaborate together, freeing them from technical challenges. Atos helped us to implement the RingCentral solution very quickly, which was appreciated by all our users.”

With Unify Office by RingCentral businesses of all sizes can communicate and collaborate with ease using industry leading voice, video, team messaging and fax capabilities from anywhere using any device via a single enterprise solution.

Unify Office offers several benefits to customers, including:

• Seamless Migration: Customers can migrate at their own pace from traditional on-premise telephony solutions 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 workflows.

“Unify Office leverages an industry-leading cloud communication platform to enable flexible technology consumption and address the constantly evolving needs of the increasingly mobile and highly distributed workforce,” said Elka Popova, Vice President of Research, Frost & Sullivan “Atos, with its Unify communications and collaboration business, stands out among other solution providers as it combines the skills of an independent systems integrator (SI) with the technology expertise of a communications solutions developer. Drawing on its deep vertical knowledge and vertical industry transformation program, Atos tailors its solutions and services to effectively address the unique challenges and objectives businesses face in their different industries.”

Available directly from Atos, at www.unifyoffice.com. Unify Office by RingCentral will also be available from partners of leading regional distributors including Itancia and BusinessCom.

For more information on Unify Office by RingCentral please go to: www.unifyoffice.com

About Atos
Atos is a global leader in digital transformation with 110,000 employees in 73 countries and annual revenue of € 12 billion. European number one in Cloud, Cybersecurity and High-Performance Computing, the Group provides end-to-end Orchestrated Hybrid Cloud, Big Data, Business Applications and Digital Workplace solutions. The Group is the Worldwide Information Technology Partner for the Olympic & Paralympic Games and operates under the brands Atos, Atos|Syntel, and Unify. 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 cloud Message Video Phone (MVP), customer engagement and contact center solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

London, UK - September 3, 2020 - RingCentral UK Ltd., a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions and a wholly-owned subsidiary of RingCentral, Inc. (NYSE: RNG), has partnered with Fulham Football Club (FFC) as their official communications provider.

In March, RingCentral partnered with FFC to support the team’s communication efforts across their front office, ticket sales, back office, and executive staff. The team opted for the RingCentral Office® messaging, video and phone platform for its versatile and agile capabilities. Due to the global pandemic, Fulham’s coaches and players also adopted RingCentral’s messaging, video and phone platform to host digital training sessions successfully for the first time in the Club’s history. 

RingCentral Office enables FFC to communicate across multiple channels, from any location, on any device. In addition, RingCentral equips the club’s staff to communicate via phone, video and team messaging—all in one seamless solution

Darren Preston, chief operating officer of Fulham Football Club explains: “The RingCentral Office solution has quickly increased operational efficiency thanks to cutting-edge call and video conferencing quality and the ability to communicate using new digital channels.

“Our migration to RingCentral was just underway when the Covid-19 crisis struck… We quickly had to become very action-orientated. The platform has supported our business beyond my expectations. With zero training, I’m having virtual meetings, sharing live presentations and connecting with my internal & external colleagues on a daily basis whilst I try to over-communicate in these challenging and uncertain times.”

Established in 1879, FFC is based in London and plays in the English Premier League. The Club was looking for a high-quality, reliable solution that would enable its departments to work together seamlessly, as well as improve communications and collaboration with external parties.  

The way Fulham has adopted the technology has further proven the capabilities of RingCentral Office. “The right communications tools have been essential throughout the past few months, and are quickly becoming a business priority,” said Steve Rafferty, MD RingCentral UK.“The great thing about the RingCentral Office solution is that it’s incredibly agile, meaning we’ve been able to work reactively with FFC as their teams shifted to home working.”

RingCentral worked with channel partner CDW as part of the deal. “There are many UC solutions on the market today, and for businesses, it is often hard to understand which best fits their needs. By continually evaluating the market, CDW has a solid understanding of the solutions and can act as a trusted advisor to businesses,” said Ross Pedder, Head of Cloud Services at CDW. “For FFC, we knew that RingCentral would be the perfect fit—as a robust and resilient communications platform.”

About Fulham Football Club

Fulham Football Club was formed in 1879 as a local boys’ church side, Fulham St Andrew’s. The oldest of London’s first-class clubs, Fulham FC has a long and colourful history, spanning over 140 years, and is rightly positioned as London’s Original Football Club with its home, Craven Cottage, having hosted matches since 1896.

Promotion to the Premier League was first achieved in 2001 and the team remained in England’s top division until 2013. The Club reached the final of the inaugural Europa League in 2010, losing to Atletico Madrid 2-1 in extra-time.

Fulham FC Chairman Shahid Khan, owner of the Jacksonville Jaguars of the National Football League, purchased the Club in 2013.

The Club promoted to the Premier League this summer (2020) by winning the Championship Play-Off Final against Brentford at Wembley Stadium.

Under the guidance of Head Coach Scott Parker, the team’s first match of the 2020-21 Premier League campaign is against Arsenal at Craven Cottage.

About RingCentral

RingCentral, Inc. (NYSE:RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact center solutions. More flexible and cost-effective than legacy on-premises systems, the RingCentral platform empowers employees to work better together, from any location, on any device, and via any mode to serve customers, improving business efficiency and customer satisfaction. The company provides unified voice, video meetings, team messaging, digital customer engagement, and integrated contact center solutions for enterprises globally. RingCentral’s open platform integrates with leading business apps and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, USA and has offices around the world.

©  2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office and the RingCentral logo are trademarks of RingCentral, Inc.

LONDON, UK. -- Aug 20, 2020 -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration and contact centre solutions, today announced the appointment of Homayoun Razavi to lead its service provider business, globally. Razavi will oversee the continued expansion of partnerships with mobile operators, Internet Service Providers (ISPs), and managed service providers. Razavi brings over 30 years of telecom experience to RingCentral including senior leadership roles at BroadSoft, Coriant, Ditech Networks, Laurel Networks, Lucent, and MCI/Verizon.   

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200820005197/en/

Homayoun Razavi (Photo: Business Wire)

RingCentral partners with leading service providers such as AT&T in the U.S., BT in the U.K., and TELUS in Canada. These relationships enable service providers to quickly and easily offer their customers world class cloud-based unified communications across mobile devices, tablets, and desktop computers.

“Service providers are playing a critical role in enabling businesses to transform,” said Anand Eswaran, president and chief operating officer for RingCentral. “Central to that transformation is powerful, reliable, and secure cloud-based communications services that bring together messaging, video, and phone capabilities enabling people to work from anywhere.  We’re excited to have Homayoun join our team to champion that opportunity to partner with service providers, globally.”

“Service providers are focused on driving value for their business customers,” said Homayoun Razavi, senior vice president of Global Service Providers for RingCentral. “Recent events have accelerated the need for delivering advanced Unified Communications as a Service that include messaging, video, and phone capabilities to today’s remote workforce. I’m excited to join RingCentral to partner with global service providers as they continue to innovate in 5G, Mobile Edge Computing (MEC), and Internet of Things (IoT).”

Fazil Balkaya, industry analyst, Synergy Research commented, “RingCentral’s strategy of working closely with carriers and service providers enables them to capitalise on the global market opportunity to scale growth and demand for cloud based communications services, while giving carriers and service providers an avenue to partner with the #1 UCaaS provider.”

Partnering with RingCentral gives service providers a turnkey cloud-based solution that is fully managed, significantly reducing the operating expenses (OPEX) and capital expenditures (CAPEX) burden. This allows service provider partners to dedicate resources toward other key strategic areas such as 5G and IoT, while expanding revenue to capture demand in the growing Unified Communications as a Service (UCaaS) market. RingCentral also offers service providers the ability to integrate their networks via IMS and SD-WAN to deliver differentiated next generation services with better quality and faster deployment.

To learn more about RingCentral's service provider program, join our upcoming webinar, hosted in partnership with Cavell Consulting Group. 

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

© 2020 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.

London, UK - Aug. 12, 2020 - RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced it has been ranked highest for both the European Hosted IP Telephony and Unified Cloud Communications as a Service (UCaaS) Market in the new 2020 Frost & Sullivan UCaaS Radar Report. The Frost & Sullivan Radar Report provides results from an in-depth analysis built on a 360-degree research methodology evaluating more than 120 companies. The team of industry analysts identified 20 industry leaders excelling at innovation, most poised for growth and ripe for investment. RingCentral received the highest combined growth and innovation score of all the providers.

“RingCentral stands out among providers offering hosted IP telephony and UCaaS in the European market with its keen ability to identify key mega trends and promptly align its solutions portfolio roadmap with rapidly evolving business technology requirements,” explained Elka Popova, Vice President of Research at Frost & Sullivan. “Unique partnerships with leading industry participants and a growth-focused company culture, combined with the provider’s relentless pursuit of technology innovation, are likely to boost RingCentral’s future growth prospects in Europe, as well as the rest of the world.”

The 2020 Frost & Sullivan UCaaS Radar report highlights a number of key strengths for RingCentral, including:

● RingCentral ranks high on both the innovation and growth axes on Frost Radar due to the company’s robust and constantly evolving UCaaS portfolio and market-leading growth rates

● Being cited for constantly enhancing customer value by adding new features and capabilities to its flagship RingCentral Office® solution

● RingCentral’s growth in European markets, which may accelerate the company’s creative partnerships with Atos, Avaya and BT, among other partners, and highly effective direct sales

● Using flexible cloud technology and a proprietary platform that enable cost-effective scalability

“Our platform was built for the mobile and distributed workforce, so that enterprises can keep their customers, partners, and employees connected,” said Anand Eswaran, president and chief operating officer, RingCentral. “We’re honored to be ranked highest in this new report by Frost & Sullivan, a validation of our continued commitment to providing the secure messaging, video, and phone communications and collaboration solutions for the ‘work from anywhere’ reality of today’s unique circumstances and the years to come.”

Results are based on the 2020 Frost & Sullivan UCaaS Radar report. For more information, please view a complimentary copy of the report. Results are not an endorsement of RingCentral. Visit ww2.frost.com for more details.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

©  2020 RingCentral, Inc. All rights reserved. RingCentral,  RingCentral Office,  Message Video Phone and the RingCentral logo are trademarks of RingCentral, Inc.

PARIS, France & LONDON, UK - [11 August 2020]

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 and contact centre solutions, today announced that they have entered into a strategic partnership to introduce a new co-branded cloud solution – Rainbow Office powered by RingCentral –  making it unique and exclusive for Alcatel-Lucent Enterprise. RingCentral and Alcatel-Lucent Enterprise will jointly develop programs enabling both companies to lead the cloud communications services for the enterprise market. 

“We are excited to partner with Alcatel-Lucent Enterprise and to bring our industry-leading cloud communications solutions to their customers and partners,” said Vlad Shmunis, founder, chairman and CEO. “Alcatel-Lucent Enterprise’s strong presence in Europe and beyond will enhance our ability to jointly enable customers and partners accelerate their migration to cloud communication solutions in these markets.” 

Alcatel-Lucent Enterprise’s mission is to deliver customised technology experiences to enterprises with a verticalised business approach in networking, communications, and cloud. Rainbow Office powered by RingCentral will enrich the company’s cloud portfolio enabling customers to accelerate their digital transformation with public Unified Communications as a Service (UCaaS). 

“Customers demand agile, robust and secured cloud communication and collaboration solutions in today’s high-speed technology world,” said Jack Chen, CEO of Alcatel-Lucent Enterprise. “For our customers and partners, this strategic partnership enables us to offer them a wider choice of technology-leading cloud solutions, to comprehensively cover their business needs. This partnership will also enable Alcatel-Lucent Enterprise to accelerate the development and transformation of our cloud business to become the number one player in cloud solutions in Europe and beyond focusing on vertical solutions and services to make everything connect. It will bring significant opportunities for our well-established business partner ecosystem and strong values for our customers.”

Rainbow Office powered by RingCentral will be available in the first quarter of 2021.

Financial Terms:

Under the commercial agreement, both companies will contribute resources towards development and sales & marketing of Rainbow Office powered by RingCentral. RingCentral will pay Alcatel-Lucent Enterprise $100 million in cash for exclusive access, a minimum seat commitment, and future commissions.

Conference Call Details:

The companies also announced that they will hold a conference call today August 11, 2020 at 5:15 AM Pacific Time (8:15 AM Eastern Time) to discuss this partnership.

• When: Tuesday, August 11, 2020 at 5:15AM PT (8:15AM ET).

• Dial-in: To access the call in the United States, please call 1-877-705-6003, and for international callers, dial 1-201-493-6725. 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 August 18, 2020, a telephone replay will be available by dialing 1-844-512-2921 from the United States or 1-412-317-6671 internationally with recording access code 13708193.

Investor Presentation Details:

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

About Alcatel-Lucent Enterprise

Alcatel-Lucent Enterprise delivers the customised technology experiences enterprises need to make everything connect. Their digital-age networking, communications and cloud solutions tailored to ensure customers’ success, are offered with flexible business models; in the cloud, on premises, and hybrid. These solutions have built-in security and are designed to limit their 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, visit our web site at: https://www.al-enterprise.com/.

For ongoing news, visit our LinkedIn, Facebook and Twitter.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP), customer engagement and contact centre solutions for businesses worldwide. 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’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.

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.

RingCentral Office^® ARR surpassed $1 billion, up 36%

Subscriptions Revenue up 32%

Belmont, Calif. – August 3, 2020 – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced financial results for the second quarter ended June 30, 2020.

Second Quarter Financial Highlights

• Total revenue increased 29% year over year to $278 million.
• Subscriptions revenue increased 32% year over year to $257 million.
• Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 33% year over year to $1.1 billion.
• RingCentral Office^® ARR increased 36% year over year to $1.0 billion.
• Mid-market and Enterprise ARR increased 50% year over year to $581 million.
• Enterprise ARR increased 58% year over year to $363 million.
• Channel ARR increased 60% year over year to $375 million.

“We delivered solid Q2 results driven again by strong contributions from mid-market and enterprise customers, as well as our channel partners,” said Vlad Shmunis, RingCentral's founder, chairman and CEO. “We are seeing a high level of adoption and engagement with our Message Video Phone (MVP) solution as businesses adapt to a work from anywhere environment. The ongoing global pandemic has elevated digital transformation of enterprise communications platforms to a top IT priority. Our strategic partnerships are broadening our global market reach, and we remain committed to delivering cloud solutions that enable our customers’ workforces to productively communicate and collaborate from anywhere, on any device, in any mode.”

Financial Results for the Second Quarter 2020

• Revenue: Subscriptions revenue of $257 million increased 32% year over year and accounted for 92% of total revenue. Other revenue of $21 million increased 3% year over year, reflecting higher adoption of RingCentral apps in the current work from anywhere environment. Total revenue was $278 million for the second quarter of 2020, up from $215 million in the second quarter of 2019, representing 29% growth.
• Operating Income (Loss): GAAP operating loss was ($29) million, compared to a GAAP operating loss of ($7) million in the same period last year, primarily driven by higher share-based compensation and amortization of intangibles. Non-GAAP operating income was $29 million, compared to a non-GAAP operating income of $20 million in the same period last year.
• Net Income (Loss) Per Share: GAAP net profit per diluted share was $0.01, compared to ($0.11) in the same period last year, primarily driven by mark-to-market gains associated with investments and strategic partnerships, partially offset by higher share-based compensation, amortization of intangibles, and amortization of debt discount and issuance costs. Non-GAAP net income per diluted share was $0.24, compared to $0.21 per diluted share in the same period last year. The second quarter of 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 second quarter of 2020 was $774 million. This compares with $762 million at the end of the first quarter of 2020.

Additional Highlights

• Announced that RingCentral has been named to the Forbes “Global 2000: The World's Largest Public Companies” list, released in May, 2020.
• Announced RingCentral Video™ (RCV), a reimagined video meetings experience. Leveraging RingCentral’s years of experience as a global UCaaS leader, RingCentral Video joins RingCentral messaging and RingCentral phone to complete our differentiated Message Video Phone™ (MVP) solution.
• Announced expansion of strategic partnership with Atos SE with new Unify Office as the exclusive UCaaS solution for 40 million users of the Atos Unify family of products.
• Announced global expansion and general availability of Avaya Cloud Office™ by RingCentral® in Australia, Canada, and the UK along with the availability of several key new features and capabilities including tools to help migrate customers more efficiently and effectively.
• Launched IGNITE™ Partner Program, which enables partners to own the entire sales cycle with organizations of up to 400 employees. The program reinforces RingCentral's commitment to the channel, and gives partners greater flexibility to choose the sales process that best suits the needs of each individual prospect.
• Announced RingCentral PBX™ for Microsoft Teams with Direct Routing integration, enabling Microsoft Teams users to have access to more robust cloud PBX capabilities without ever having to leave the Teams interface on mobile, web, and desktop.
• Launched initial release of RingCentral Rooms, extending the power of RingCentral Video to conference rooms and meeting spaces that have dedicated video conferencing equipment, such as monitors, speakers, microphones, and cameras.

Financial Outlook

Full Year 2020 Guidance:

• Raising subscriptions revenue range to $1.043 to $1.048 billion, representing annual growth of 28%. This is up from our prior range of $1.024 to $1.030 billion and annual growth of 25% to 26%.
• Raising total revenue range to $1.135 to $1.143 billion, representing annual growth of 26% to 27%. This is up from our prior range of $1.116 to $1.125 billion and annual growth of 24% to 25%.
• GAAP operating margin between (10.8%) and (10.1%).
• Non-GAAP operating margin between 9.6% and 9.7%.
• Non-GAAP tax rate for 2020 assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
• Raising non-GAAP EPS range to $0.92 to $0.94 based on 93.5 million fully diluted shares. This is up from our prior range of $0.91 to $0.94, and reflects a $0.01 impact from lower other income assumptions.
• Share-based compensation range of $190 to $195 million, amortization of debt discount of $44 million, amortization of acquired intangibles of $35 million, and acquisition related matters of approximately $2.2 million.

Third Quarter 2020 Guidance:

• Subscriptions revenue range of $263 to $265 million, representing annual growth of 25% to 26%.
• Total revenue range of $283.5 to $289.5 million, representing annual growth of 21% to 24%.
• GAAP operating margin range of (12.0%) to (11.0%).
• Non-GAAP operating margin of 10.0% to 10.2%.
• Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
• Non-GAAP EPS of $0.24 based on 94 million fully diluted shares.
• Share-based compensation range of $53 to $54 million, amortization of debt discount of $12 million, and amortization of acquired intangibles of $8.5 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, 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 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 2020, 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 second quarter of 2020 and outlook for the third quarter and full year of 2020.
• When: Monday, August 3, 2020 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 August 10, 2020, a telephone replay will be available by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally with recording access code 13706835.

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 cloud Message Video Phone (MVP), customer engagement and contact center solutions for businesses worldwide. 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’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.

©2020 RingCentral, Inc. All rights reserved. RingCentral, RingCentral Office, RingCentral Video, Message Video Phone, 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, the success of our RCV solution, the success of our strategic relationships, such as our relationships with Avaya and Atos, our market opportunity, 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 and Atos; 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 RCV; our ability to compete successfully against existing and new competitors; our ability to enter into and maintain relationships with resellers, carriers 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 March 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, 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, 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. 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.