RingCentral Press Releases

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.

(1) Income tax expense effects for the three and six months ended June 30, 2019 include the tax benefit from release of valuation allowance.

London, UK – July 28, 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 its master agent partnership with Telarus, a market leader for the distribution of network, unified communications, and cloud services in the UK.

RingCentral empowers organisations of all types and sizes to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral and Telarus are partnering to help UK companies support their employees working from anywhere. 

“Telarus understands the growing demand and market shift from on-premises legacy systems to cloud communications solutions, and we’re proud that they have chosen RingCentral as a strategic UCaaS partner,” said Zane Long, senior vice president of global partner sales at RingCentral. “Master agents such as Telarus are instrumental in enabling us to deliver industry-leading cloud communications solutions to customers, and this partnership will strengthen and accelerate our channel presence in the UK.”

RingCentral works with world-class distributors, master agents, channel partners, and carrier partners to deliver cloud communications solutions to businesses around the world. RingCentral is ranked in the CRN 5-Star Partner Program Guide for five years in a row and recognised as a leader in the Gartner 2019 Magic Quadrant for Unified Communications as a Service Worldwide. RingCentral provides a mobile-first, unified message video phone solution, as well as digital customer engagement and integrated contact centre solutions to enable a completely seamless experience. Easier to manage, more flexible and cost-efficient than legacy, on-premise communications systems, RingCentral’s cloud solutions meet the needs of today’s mobile and distributed workforce. With a proven track-record in the UCaaS space, Telarus will enable speedy partner onboarding, leading to a faster return on investment (ROI).

“We are excited to be working with RingCentral and proud that our relationship has been recognised with the Platinum Partner status,” commented Shane Speakman, vice president of business development – Unified Communications as a Service, Telarus. “RingCentral is the industry leader in the growing UCaaS market. This partnership will allow us to bring the benefits of RingCentral’s cloud communications and collaboration services to companies across the UK.”

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. 

About Telarus 

Built for You, Telarus is the largest privately-held technology services distributor (master agent) in the United States. We are a global master agent with offices in Australia, Canada and the United Kingdom. Our dynamic agent-partner community sources data, voice, cloud, and managed services through our robust portfolio of 250 leading service providers. We are best known for our home-grown software pricing tools and mobile apps that are unique in the industry. To help our partners grow their businesses, we’ve assembled the best support organisation in the industry. It includes SD-WAN, Cloud, mobility, contact centre, and ILEC speciality practices whose primary goal is to help our partners identify and design the right technology solutions for their customers. To learn more about the Telarus opportunity, please visit www.telarus.com, or follow us on Twitter @Telarus.

LONDON, UK -- July 27, 2020 -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced the appointment of Gunjan Aggarwal as Chief People Officer, reporting to Anand Eswaran, president and COO at the company. Aggarwal will be responsible for continuing to ensure that  RingCentral is a great place to work for our people, from talent acquisition and development, to organisation effectiveness, rewards and recognition, and global inclusion and diversity.

Aggarwal is a 20-year industry veteran who joins RingCentral from RELX Group, a world-leading provider of information solutions based on big data analytics for professional and business customers with revenues of $10 billion. At RELX, she was responsible for all aspects of the people function across the 30,000 employee population. She also led executive and board engagements in planning, culture, inclusion, and risk mitigation in the people domain and oversaw a team of over 400 HR professionals. 

“Successful companies create an inclusive environment that enables people to bring their best and authentic self to work,” according to Anand Eswaran, president and chief operating officer RingCentral. “RingCentral is a purpose-led company, and we are on a journey to constantly reimagine a people-centred, inclusive workplace.  We’re excited Gunjan is joining us to accelerate our progress, attract, retain, empower and coach great talent; and evolve a culture that delivers the best outcomes for our people, our customers, partners, shareholders and communities. In Gunjan we have a leader who combines clarity of purpose with creative intent and we’re looking forward to seeing her impact.” 

“RingCentral’s success is a testament to the company’s strong values and culture,” said Aggarwal. “I have always been focused on fostering strong cultures that are diverse and all inclusive. I see tremendous opportunities at RingCentral to continue to develop the company as both a destination for top talent and a great place to work. Great outcomes for our customers depend on ensuring our people have the best environment to learn, develop, and deliver. It’s an exciting journey.”

Prior to joining RELX, Aggarwal held a variety of leadership positions at Ericsson, where she spent five years, including vice president of people and culture. In her role, she supported the Media business growth via mergers and acquisitions, attracting software and cloud media talent to build Ericson’s TV-as-a-service (TVaaS) offerings in a dynamic industry domain. Aggarwal also served as global head of talent acquisition for Diversity & Inclusion (D&I) and Mergers & Acquisition (M&A) where she worked closely with executive staff and the talent board to recruit top executive talent.

Aggarwal also served as vice president and head of HR for North America at Ericsson, leading HR strategy for 20,000 employees with a team of 250 HR associates. Before joining Ericsson, Aggarwal held various positions at leading companies including Novartis and Unilever. 

Aggarwal holds a Bachelor of Science degree in Electronics and Communication and a Masters in Business Administration from XLRI in Jamshedpur, India. 

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 London, UK – July 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 centre solutions, today announced the expansion of their strategic partnership with the launch of a co-branded UCaaS solution called Unify Office (UO) by RingCentral. In addition to the system integrator relationship announced previously, the expanded partnership will now include Unify Office as the exclusive UCaaS offering for the 40 million user installed base of the Atos Unify product family. Unify Office is expected to be available starting August 31, 2020.

This will allow Atos to maximise the global market opportunity in digital transformation by adding a strong cloud communications solution to its portfolio. Unify Office, combined with the Atos Unify OpenScape product family and market leading Atos Unify Cloud Contact Centre offering, gives Atos’ customers unique access to leading solutions across all the major Unified Communications categories. 

Atos will also become a customer of Unify Office and start to deploy Unify Office for Atos UCC (former Unify Division) with a view to expand this across the 110,000 employees. Unify, formerly Siemens Enterprise Communications, was acquired by Atos in 2016.

During the ongoing Covid-19 pandemic, Atos accelerated its relationship with RingCentral and engaged within the strong Atos Unify reseller landscape to certify more than 90 channel partners with an Early Adopter Program to sell the new Unify Office.  

“At RingCentral we’ve always been focused on enabling employees to be productive and collaborate from anywhere, using any device and through the modality of their choice to drive effective business outcomes,” said Vlad Shmunis, Founder, Chairman and CEO, RingCentral. “By bringing Unify Office to the 40 million users of Atos Unify’s family of products, we will provide organisations with the ability to accelerate digital transformation across their entire enterprise.” 

Atos will bring added value to RingCentral’s leading UCaaS offering through the exclusive compatibility of the Atos Unify family of devices and market leading services capabilities. In addition, Atos will provide fully integrated Digital Workplace offers with some of Atos’ biggest technology and alliance partners. Unify Office will be the exclusive UCaaS solution offered through the Atos Unify Channel Program, allowing its reseller community of more than 1,700 partners worldwide to add their own value. 

“This is a critical moment for workplace communications. Organisations are returning to their offices in a new normal and require accelerated digital transformation of their workplace environment,” said Elie Girard, CEO, Atos. “With our unique heritage in Unified Communications, we’re excited about combining our knowledge with the market leader in UCaaS to start a new chapter for business communication solutions worldwide.”

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 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 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 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.

Forward-Looking Statements

This press release contains “forward-looking statements,” including but not limited to, statements regarding RingCentral’s plans to partner with Atos to offer a co-branded UCaaS solution and the anticipated benefits of and activity under RingCentral’s strategic partnership with Atos, including the ability to create long-term growth opportunities for RingCentral. 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 perform their obligations under the commercial arrangement, the parties ability to successfully develop and execute the envisioned jointly developed programs, technology and automation, the ability to successfully transition customers to RingCentral’s UCaaS solution, 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 March 31, 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.

London, UK, – June 30, 2020 –  Avaya Holdings Corp. (NYSE: AVYA and RingCentral Inc. (NYSE: RNG) today announced the 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.

Avaya Cloud Office is experiencing rapid global customer adoption, enhancing the way organizations communicate with customers, partners and with colleagues through an all-in-one solution that delivers seamless collaboration across multiple channels. Communication delivered via a single platform is increasingly important as 85 percent of companies use two or more disparate collaboration applications to meet customer and end-user requirements.¹ By enabling voice calls, team messaging, meetings, conferencing and file sharing in a single solution, Avaya Cloud Office reduces cost and complexity while empowering workforces to call, meet and message across any device from wherever they are. 

Today’s announcement highlights the continued expansion of Avaya Cloud Office to more countries and customers around the globe. For example, the CIUSSS Est-de-l’Ile-de-Montreal (or CEMTL), a Canadian healthcare and social services provider with 15,000 employees across two hospitals, one university institute, eight clinics and fifteen long term care facilities turned to Avaya to power their communication needs. “Avaya Cloud Office demonstrates the true value of UCaaS and enables us to act quickly and stay engaged across our locations, in particular during the COVID-19 crisis when effective and efficient communications and collaboration are critical and not an option. Avaya Cloud Office enables our team to collaborate seamlessly across locations and devices to better focus on the needs of our customers.  Additionally, the deployment was fast and effortless, literally within hours we were up and running.”

“The way we work continues to change as we see real examples of digital transformation accelerating rapidly across businesses of all sizes,” said Dennis Kozak, SVP, Business Transformation, Avaya. “Nothing is more critical to a business than communications and we have seen unprecedented uptake of our collaboration solutions as a result of the new working environment we are all experiencing. Organizations of all kinds are quickly adopting solutions that provide a single integrated platform to seamlessly manage communications with customers and employees, across multiple devices.”

Since its introduction in March, new features, including additional migration tools, enhanced devices support, along with advanced telephony management and other capabilities have been added to Avaya Cloud Office including:

• Expanded support for Avaya endpoint devices to ensure users have the solution that suits their needs. The additional device support also extends the rich meeting capabilities of Avaya Cloud Office into conference rooms, providing high fidelity sound quality. 
• Migration tools and features to facilitate the transition of customers on previous Avaya UC premise-based platforms to Avaya Cloud Office, enabling them to seamlessly enjoy the feature rich UCaaS capabilities of calling, meetings, messaging and more – all based in the cloud.
• Additional features like Call Park and Page that allow customers to transition from existing Avaya platforms without changing the current processes they use every day.
• Over 130 integrations on the Avaya Cloud Office App Gallery leveraging desktop software tools, like Google Docs or O365, that people use every day, creating a seamless experience that eliminates the need to switch between applications.

“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 IDC Europe forecast, UCaaS will grow at a compounded annual growth rate of 23.3% between 2019 and 2022, which is higher than the 17.1% anticipated during the pre-covid-19 period. IDC is seeing similar trends in places like Canada and Australia as well. 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 customisable, flexible, modular, agile, frictionless, scalable, omnichannel and secure to cater to the varying needs of enterprises.  

Avaya Cloud Office recently won CUSTOMER Magazine’s 2020 Unified Communications Product of the Year Award honoring the most innovative unified communications products and solutions available over the past year.

“Organisations need modern cloud communications solutions to remain connected and accelerate business outcomes,” said Anand Eswaran, president and chief operating officer, RingCentral. “Avaya Cloud Office enables businesses to keep moving forward and helps ensure that customers have the necessary solutions at their fingertips to connect, communicate, and collaborate effectively. Ever since we launched in the US market, we have seen tremendous uptick for Avaya Cloud Office by the extensive and trusted ecosystem that Avaya has nurtured for many years.”

Also announced today is an Avaya Cloud Office promotional offer, providing customers who sign up now with a full free month of service and 20 percent discount. Customers will get free Basic Avaya Cloud Office Implementation, discounts on Avaya Cloud Office Professional Migration Services, and discounts on select desk phones. The promotion details and further conditions can be found here.

Avaya also recently announced master agent partnerships to meet the growing global demand for Avaya Cloud Office including:

Australia

• CommsPlus

Canada

• SYNNEX Corporation
• Telarus Canada

UK

• ScanSource
• Westcon UK
• Avant

Additional Resources

• Read our blog, Improving Customer and Employee Experiences with UCaaS 
• Learn more about what are driving trends in UCaaS.

¹TalkingPointz Research Note, "The Firstline/deskless Opportunity 2019", by Dave Michels, July 2019

About Avaya
Businesses are built on the experiences they provide, and every day millions of those experiences are built by Avaya (NYSE: AVYA). For over one hundred years, we’ve enabled organizations around the globe to win - by creating intelligent communications experiences for customers and employees. Avaya builds open, converged and innovative solutions to enhance and simplify communications and collaboration - in the cloud, on-premise or a hybrid of both. To grow your business, we’re committed to innovation, partnership, and a relentless focus on what’s next. We’re the technology company you trust to help you deliver Experiences that Matter. Visit us at https://www.avaya.com © 2020 Avaya Holdings Corp. All rights reserved. Avaya, Avaya Cloud Office and the Avaya logo are trademarks of Avaya Holdings Corp.

About RingCentral
RingCentral, Inc. (NYSE: RNG) is a leading provider of global enterprise cloud communications, collaboration, and contact centre 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 centre solutions for enterprises globally. RingCentral’s open platform integrates with leading business apps 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.

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, UK, – June 29, 2020 – RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced RingCentral Cloud PBX™ for Microsoft Teams enabling Direct Routing integration. With the RingCentral Cloud PBX for Microsoft Teams users will have access to more robust cloud PBX capabilities without ever having to leave the Teams interface on mobile, web, and desktop. RingCentral also provides broader integrations with Microsoft Teams that enhance user productivity across the platform.  

“Today’s modern workforce wants the flexibility to communicate using their preferred channels, both within and outside their organisation,” said Will Moxley, chief product officer, RingCentral. “For organisations using Microsoft Teams for team messaging, RingCentral Cloud PBX for Microsoft Teams provides exceptional enterprise PBX capabilities, enabling users to remain productive from within their Teams environment. Our integrations with Teams aligns with our vision of delivering an open platform, where our rich integration ecosystem empowers users to effortlessly and intuitively access RingCentral communications capabilities from their applications of choice to drive productivity across their enterprise.”

RingCentral Cloud PBX for Microsoft Teams with Direct Routing integration includes: 

• Call controls: Enables users to mute/unmute, hold, resume, and transfer calls
• Interactive Voice Response (IVR): Businesses can create sophisticated and global call-flow configurations 
• Call handling: Route incoming calls to any or all of the users’ devices eliminating the need to be tethered to a desktop computer
• Call queues: Route and distribute calls to several extensions and set up overflow capabilities for when it gets busy
• Open Platform: Organisations can take advantage of RingCentral’s robust library of native integrations or build their own with RingCentral APIs. The RingCentral open platform ecosystem continues to expand with more than 40,000 developers and 4,000 out-of-the-box and custom app integrations
• Global Coverage: Enterprises can leverage RingCentral’s global phone system capabilities in 40+ countries and local and toll-free numbers in 100+ countries 
• Service Level Agreements (SLA): RingCentral Cloud PBX for Microsoft Teams offers native PSTN with industry-leading available 99.999% SLA. RingCentral Cloud PBX features and functionality remain at RingCentral's SLA. End users accessing the integration via Teams are subject to the Teams SLA 
• Security Certifications and Compliance: RingCentral provides audit reports demonstrating applicable safeguards for requirements such as HIPAA and FINRA, and offers leading audits and security certifications such as SOC2, SOC3, HITRUST, and others
• Native call recording: The solution enables users to seamlessly record inbound and outbound calls from any device as needed
• Analytics and Call Reports: Provides users complete visibility into all their calls, identify key trends, set up automated alerts, and more to drive real-time decisions

Paul Weiss, chief knowledge officer at Helm Partners, a leading telecom and technology advisory services firm and valued RingCentral Channel partner, said, “Our clients are demanding secure and reliable technology solutions that enable work from anywhere flexibility, allowing them to communicate through the channels they want, and on the devices of their choice. RingCentral’s integrations create even greater business agility by extending this flexibility to our clients’ workplace applications of choice.  Whether it is Teams, G-Suite, a CRM, or the RingCentral application, RingCentral’s platform is taking user enablement and workflow efficiency to the next level. They have created an ecosystem that works for all businesses, making RingCentral an integral strategic element as we assist our clients in accelerating their digital transformation journey.” 

Jim Lundy, founder, CEO, and lead analyst, Aragon Research, said, “The drastic shift to a fully remote working world has shed a spotlight on the limitations of legacy on-premise systems, which cause disruption and loss of productivity. With RingCentral Cloud PBX for Microsoft Teams, users can easily leverage the global enterprise phone system capabilities along with top-notch security and reliability that comes with RingCentral.”

Additional RingCentral App Integrations for Microsoft Teams and Office 365

RingCentral’s app integrations for Microsoft Teams, which are native to Teams and accessible via the Office 365 chrome extension are both available on the RingCentral app gallery.

• Office 365 Chrome extension integration: Drives productivity from Microsoft Teams by quickly accessing RingCentral to schedule a video meeting, search their directory, or make a call within Teams, without requiring a separate desktop app.
• Microsoft Teams RingCentral native integrations: Users can click an embedded message button or “@” mention RingCentral to directly schedule meetings, start a video call, or phone conversation from within Teams. The integration enables users to access a contact (both with web + desktop) without leaving Teams, eliminates the problem of siloed apps. 

RingCentral also supports integrations across different Microsoft products such as Outlook, Office 365, Skype for Business, and Dynamics 365, which streamline workflows with RingCentral as a communications hub. You can find these integrations and more ISV integrations such as Canvas, NetSuite, Salesforce, and Zendesk in the RingCentral app gallery.

Availability
RingCentral is announcing limited availability of RingCentral Cloud PBX for Microsoft for customers globally with general availability to follow. Additional integrations of RingCentral with Microsoft Teams mentioned above are available immediately to all global users.

Resources
Click here to learn more about RingCentral Cloud PBX for Microsoft. To read the blog 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 and the RingCentral logo are trademarks of RingCentral, Inc.

London, UK —June 3, 2020 —RingCentral (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced that the company has been named in the Forbes “Global 2000: The World’s Largest Public Companies” list, released in May 2020. The annual list, which has been released for the past 18 years, features a ranking of the biggest, most powerful, and most valuable companies in the world. 

“RingCentral has always been focused on delivering next-generation communications solutions for the ever-expanding global, mobile, and distributed workforce,” said Vlad Shmunis, founder, chairman, and CEO, RingCentral. “Our inclusion in the Forbes 2020 list is an honor and validates our continued commitment to providing enterprises with modern cloud communications solutions that keep them connected and thriving.” 

The Forbes Global 2000 list is a highly regarded authority on corporate rankings globally. The Global 2000 list is based on four metrics: sales, profits, assets, and market value. Forbes uses an equal weighting of all four metrics to rank companies according to size. Each company receives a separate score for each metric. Forbes adds up all the scores to compile a composite score. The highest composite score gets the highest rank. RingCentral was ranked #1818 on the May 2020 annual list.

For more information and to view the full Global 2000 list, please visit https://www.forbes.com/global2000.

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.

London, June 2, 2020 -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, today announced the launch of its IGNITE!™ Partner Programme, which enables partners to own the entire sales cycle with organisations of up to 400 employees. IGNITE! builds on RingCentral’s existing industry-leading Channel Harmony® programme. The programme 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.

“Now more than ever, organisations need technology that allows them to work from anywhere,” said Zane Long, senior vice president, global partner sales. “With the new IGNITE! programme, we remain committed to our partners by providing them with even more flexibility and choice. Partners can continue to look to RingCentral as the complete cloud solution for today's modern digital workforce across businesses of any size.”

The RingCentral IGNITE! Partner Programme enables qualifying partners to manage the sales process end-to-end for opportunities for organisations of up to 400 employees when selling RingCentral’s cloud communications solutions. Certified partners will be able to provide quotes, access a dedicated remote team for sales support, and have the ability to close deals with higher sales incentives. For larger, more complex deals, partners will continue to leverage RingCentral’s Channel Harmony programme for complete RingCentral sales resources.

RingCentral works with world-class distributors, master agents, channel partners, and carrier partners to deliver cloud communications solutions to businesses around the world. Ranked in the CRN 5-Star Partner Programme Guide for five years in a row and recognized as a leader in the Gartner 2019 Magic Quadrant for Unified Communications as a Service Worldwide, RingCentral provides a mobile-first, unified message video phone solution, as well as digital customer engagement and integrated contact centre solutions to enable a completely seamless experience. Easier to manage, more flexible and cost-efficient than legacy, on-premise communications systems, RingCentral’s cloud solutions meet the needs of today’s mobile and distributed workforce.

To learn more about RingCentral’s partner programmes, visit
https://www.ringcentral.co.uk/partner/overview.html.

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, IGNITE!, Channel Harmony and the RingCentral logo are trademarks of RingCentral, Inc.

Total Revenue up 33%

Total ARR surpassed $1 billion

Enterprise ARR and Channel ARR each surpassed $300 million

Belmont, Calif. – May 6, 2020 – RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced financial results for the first quarter ended March 31, 2020.

First Quarter Financial Highlights

• Total revenue increased 33% year over year to $268 million.

• Subscriptions revenue increased 33% year over year to $243 million.

• Annualized Exit Monthly Recurring Subscriptions (ARR) increased 33% year over year to over $1 billion.

• RingCentral Office^® ARR increased 36% year over year to $943 million.

• Mid-market and Enterprise ARR increased 52% year over year to $524 million.

• Enterprise ARR increased 59% year over year to $318 million.

• Channel ARR increased 62% year over year to $329 million.

“We delivered another solid quarter, driven by continued strength in mid-market and enterprise markets,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “During this difficult time, it has become even more apparent that legacy on-premise communication systems cannot meet flexible business needs in a work from anywhere environment. Since inception, RingCentral's cloud platform was designed to enable employees to communicate and collaborate from anywhere, on any device, in any mode. This quarter we introduced RingCentral Video (RCV), a reimagined video meetings experience. RCV now completes our differentiated Message Video Phone (MVP) solution that enables workers to stay productive as they work from anywhere.”

Financial Results for the First Quarter 2020

• Revenue: Total revenue was $268 million for the first quarter of 2020, up from $201 million in the first quarter of 2019, representing 33% growth.

• Operating Income (Loss): GAAP operating loss was ($25) 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 $22 million, compared to a non-GAAP operating income of $16 million in the same period last year.

• Net Income (Loss) Per Share: GAAP net loss per diluted share was ($0.70), compared to ($0.08) in the same period last year, primarily driven by higher share-based compensation, amortization of intangibles, and losses associated with investments and strategic partnerships. Non-GAAP net income per diluted share was $0.19, compared to $0.17 per diluted share in the same period last year. The first quarter of 2020 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 first quarter of 2020 was $762 million. This compares with $344 million at the end of the fourth quarter of 2019.

Additional Highlights

• 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 general availability of the highly anticipated Avaya Cloud Office™ by RingCentral® solution. Avaya Cloud Office enhances the way organizations communicate with customers, partners, and with colleagues through an all-in-one solution that delivers seamless collaboration across multiple channels.

• Announced AT&T Office@Hand powered by RingCentral now provides enhanced HD video capabilities through new RingCentral Video™ technology.

• Issued $1.0 billion aggregate principal amount of 0% Convertible Senior Notes due 2025 priced with a 50% premium to the volume weighted average price per share on February 27, 2020.

• Announced a new unified desktop app, an entirely reimagined user experience for enterprise communications available both on Windows PCs and Macs. This new app makes it much more efficient for users to communicate, share documents, make calls and schedule, join and host video meetings.

• Announced the addition of Chief Revenue Officer, Phil Sorgen. Phil is a 24-year Microsoft veteran, and most recently was the Corporate Vice President for the US Enterprise Commercial business. Prior to that, Phil was the Global Channel Chief, harnessing the power of all partners to drive growth for Microsoft.

Financial Outlook

COVID-19 highlights the resiliency of RingCentral's subscription business model. We have incorporated incremental assumptions to our outlook to reflect the current macroeconomic backdrop.

We are raising our 2020 subscriptions revenue outlook to reflect Q1 strength and positive new logo trends in early Q2, along with a prudent outlook for the remainder of the year. We have also assumed $5 to $10 million FX headwinds from weakness of international currencies versus the US dollar. We are adjusting our implied desktop phone revenue outlook to reflect reduced desktop phone demand in the current work from home environment.

Full Year 2020 Guidance:

• Raising subscriptions revenue range to $1.024 to $1.030 billion, representing annual growth of 25% to 26%. This is up from our prior range of $1.019 to $1.027 billion and annual growth of 25% to 26%.

• Total revenue range to $1.116 to $1.125 billion, representing annual growth of 24% to 25%, vs the prior range of $1.125 to $1.135 billion.

• GAAP operating margin between (11.3%) and (9.9%).

• 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.

• Non-GAAP EPS range of $0.91 to $0.94 based on 93.5 million fully diluted shares, vs the prior range of $0.93 to $0.94. This reflects a $0.02 impact from lower interest rate assumptions.

• Share-based compensation range of $185 to $195 million, amortization of debt discount of $46 million, amortization of acquired intangibles range of $34 to $36 million, and acquisition related matters of approximately $1.9 million.

Second Quarter 2020 Guidance:

• Subscriptions revenue range of $244.5 to $246.5 million, representing annual growth of 26% to 27%.

• Total revenue range of $260 to $266 million, representing annual growth of 21% to 24%.

• GAAP operating margin range of (13.8%) to (12.6%).

• Non-GAAP operating margin of 8.9% to 9.0%.

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

• Non-GAAP EPS of $0.20 to $0.21 based on 93 million fully diluted shares.

• Share-based compensation range of $49 to $50 million, amortization of debt discount of $13 million, and amortization of acquired intangibles of $8.5 to $9.0 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 first quarter of 2020 and outlook for the second quarter and full year of 2020.

• When:  Wednesday, May 6, 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 May 13, 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 13701796.

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 relationships with Avaya and AT&T, 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 relationships with Avaya and AT&T; 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-K for the year ended December 31, 2019, 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, 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 free cash flow is defined as net cash provided by (used in) operating activities plus cash paid for repayments of convertible senior notes attributable to debt discount, 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, 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, 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, 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.

TABLE 1

RINGCENTRAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)

TABLE 2

RINGCENTRAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data)

TABLE 3

RINGCENTRAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)

TABLE 4

RINGCENTRAL, INC.
RECONCILIATION OF OPERATING INCOME (LOSS)
GAAP MEASURES TO NON-GAAP MEASURES
(Unaudited, in thousands)

TABLE 5

RINGCENTRAL, INC.
RECONCILIATION OF NET INCOME (LOSS)
GAAP MEASURES TO NON-GAAP MEASURES
(In thousands, except per share data) (Unaudited)

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

TABLE 6

RINGCENTRAL, INC.
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES
GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES
(Unaudited, in thousands)

TABLE 7

RINGCENTRAL, INC.
RECONCILIATION OF FORECASTED OPERATING MARGIN
GAAP MEASURES TO NON-GAAP MEASURES
(Unaudited, in millions)

BELMONT, Calif.--May 6, 2020--RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced that Phil Sorgen, former Corporate Vice President for Microsoft’s Enterprise Commercial Group, has joined the company as its Chief Revenue Officer. Reporting to Anand Eswaran, President and Chief Operating Officer at RingCentral, Sorgen will be responsible for global sales including all direct, service providers, channel and strategic partners. Earlier Sorgen served as the Corporate Vice President of the Worldwide Partner Group at Microsoft. Sorgen is a 30-year industry veteran and has spent the last 20+ years at Microsoft in a variety of leadership roles. 

“We are excited to have Phil on board and extend him a very warm welcome. Phil brings 30 years of experience of leading sales and partner organizations at global scale,” said Anand Eswaran, president and chief operating officer, RingCentral. “Phil’s leadership is defined by his deep customer and partner relationships, a customer-first mindset and a track record of building sustainable growth businesses at scale. As we continue to enable our customers to thrive during these unprecedented times, Phil will lead the way in driving a powerful partner and customer ecosystem and take us through our next growth phase.” 

Most recently, Sorgen was responsible for Microsoft’s U.S. Enterprise Commercial Group, an organization responsible for helping the company’s largest commercial customers in the U.S. navigate digital transformation. In this role, Sorgen led U.S. enterprise sales and customer success teams including national, industry and technical teams.

Prior to this, Phil was Corporate Vice President of the Worldwide Partner Group at Microsoft where he was responsible for setting the channel strategy for a broad network of diverse partner companies worldwide. In addition, his team was responsible for activating partners on Microsoft cloud offerings at scale. He also had oversight of partner capacity management, sales and technical readiness, partner incentives, and digital engagement.

Earlier, Sorgen led the Small and Mid-market Solutions and Partners business in the U.S. In this role he was responsible for sales, marketing and partner management serving Microsoft's business customers and partner community in the U.S. Sorgen also had responsibility for the Dynamics and Service Provider businesses across all customer segments. And prior to that Sorgen served as President of Microsoft Canada, where he had responsibility for all elements of Microsoft’s Canadian business and for deepening Microsoft’s commitment to the Canadian market.   

"I am excited to join a rapidly growing organization like RingCentral that is at the forefront of transforming enterprise communications,” said Sorgen. “Throughout my career, I have worked with customers and helped them find ways to grow their business, solve their problems and recognize the value of joint solutions. I also believe deeply in the power of partnerships, which aligns closely with the strategy at RingCentral. I look forward to bringing that same spirit of collaboration to RingCentral and continuing the company's commitment to providing world-class cloud communications to its partners and customers at a time when this company is experiencing an incredible period of growth and innovation.” 

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 – May 5, 2020 -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact centre solutions, is today announcing the launch of the new RingCentral unified desktop app, an entirely reimagined user experience for enterprise communications available both on Windows PCs and Macs. The new unified RingCentral desktop app provides a modern contextual and collaboration-centric app that includes RingCentral’s Message Video Phone™ (MVP) capabilities in a single solution for a streamlined experience.

“Organisations face the new reality of their entire workforce working from home. Providing employees with communications solutions that enable them to be productive from any device, anywhere and on any mode of communication has become an absolute necessity for business continuity and success,” said Will Moxley, chief product officer, RingCentral. “With the new desktop app, we’ve modernised and reimagined the user experience and taken productivity to the next level for the digital enterprise.” 

Key new differentiators in the RingCentral desktop application include: 

• Real-time switching between modes of communication: The tight integration between Message, Video and Phone all in a single unified application enables users to seamlessly switch between these modes of communication. 

• Seamless switching of meetings between devices: The new RingCentral desktop app enables users to seamlessly switch from one device to another while participating in a video meeting.

• Advanced search functionality: The new RingCentral desktop application offers advanced search functionality that enables users to search for messages directed to an individual user. Users can also filter their search results by an email address or team name, which makes the search functionality approximately 4X¹ faster.

• Third-party integrations: The application offers key calendar integrations with several business productivity applications such as Microsoft Office 365 and Google.  

The clean and refreshed redesign of the RingCentral desktop application enables users to be more productive with a simplified experience.  

“For enterprise communications, users, easy to navigate solutions with a modern interface is a must have. But these users are on the go now more than ever which means they also require a multi-modal application that works the way people truly work. RingCentral’s new desktop application addresses this with fast and seamless call switching between desktop and mobile as well as including all the essential capabilities needed to communicate and collaborate in today’s digital enterprises,” said Fazil Balkaya, Principal Analyst at Synergy Research. 

Availability 

The new desktop version will be available from the 7th May. For more information, please click here.

Source

¹Based on internal QA testing results

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.

Belmont, Calif., -- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced RingCentral Video™ (RCV), a reimagined video meetings experience. Leveraging RingCentral’s open platform, RingCentral Video will be another component offered as part of RingCentral Office®, completing RingCentral’s differentiated Message Video Phone™ (MVP) solution. RingCentral Video addresses the demand in work from anywhere by leveraging next-generation technologies to enable a fast, unified, open, and trusted video meetings experience.

“The world is experiencing the largest work from home demand ever. At RingCentral, we've always been focused on addressing the needs of modern, mobile, and distributed workforces by delivering trusted, reliable, global, and easy to buy, manage, and use solutions,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “Today, we’re taking the next step in delivering a world-class seamlessly integrated MVP experience to further enhance employee productivity as they work from anywhere.”

RingCentral is redefining and raising the bar for online collaboration and meetings. RingCentral, now with RingCentral Video, is:

• UNIFIED: With Message Video Phone capabilities, including business voice, SMS and fax, tightly integrated, people and teams can collaborate across all modes of communication without losing context.
• FAST: RingCentral Video offers a complete browser-based experience so users do not have to download an application to join, host, or schedule a meeting.
• TRUSTED: RingCentral is committed to customers’ privacy and security. 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.
• GLOBAL: RingCentral offers full PBX capabilities in over 40 countries, and virtual presence in additional 80+ countries.
• 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 communication experience across their companies globally.

RingCentral worked closely with Google on RingCentral Video to ensure the highest quality browser-based video experience. Leveraging and extending Google Chrome’s WebRTC, RingCentral Video enables superior meetings experience using a browser while eliminating the need for additional downloads. Further, RingCentral Video went through rigorous beta testing with key customers and partners including the Detroit Pistons, Goosehead Insurance, Pro Football Hall of Fame, and World Vision, among others.

“RingCentral optimizing Google Chrome’s WebRTC to power RingCentral Video showcases the mutual value our companies have to bring hassle free communications to our customers,” said Gregg Fiddes, Head of Enterprise Ecosystems, Google. “We are excited to collaborate with RingCentral on their needs and see RingCentral choose Chrome as their inaugural launch platform for RingCentral Video, providing the greatest security and speed for their users.”

RingCentral Rooms

RingCentral Video will also power the new RingCentral Rooms™ product, which is currently in beta and is expected to be generally available later in Q2, 2020. RingCentral Rooms transforms any room into an easy-to-use video conference space for enhanced employee productivity. RingCentral Rooms’ easy installation, central management, and analytics dashboard also enable IT system administrators to modernize conference spaces quickly and efficiently. 

Availability 

RingCentral Video, seamlessly integrated into RingCentral Office, is generally available to new customers in North America for global use starting April 2, 2020. RingCentral Video is scheduled to be available to new RingCentral Office customers in EMEA later in Q2 and globally to new RingCentral Office customers in Q3. RingCentral Rooms, currently in beta, will be generally available to all customers in North America in Q2, 2020. Additional details about a full-scale release will be announced in the coming months. For more information, please visit https://www.ringcentral.com/video. 

Serving our Community

RingCentral is committed to helping people and teams connect anytime, anywhere, and on any device. Working from home is no longer a matter of choice but that of necessity and safety. RingCentral previously announced a free offering of the RingCentral Office solution to healthcare organizations, educators and NGOs. RingCentral is now extending this offer to news organizations and the public sector to accommodate the evolving needs and challenges of these important front-line communities. 

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, RingCentral Rooms and the RingCentral logo are trademarks of RingCentral, Inc.

Salesforce, AppExchange and others are among the trademarks of Salesforce.com, inc.

QUOTE SHEET

Customers

Paul Rapier, Director of IT, Detroit Pistons

“We started the deployment of RingCentral Video with our IT team, then data and analytics. Following this, we rolled it out to the sponsorship team, and finally everyone else. We have had zero issues. The crystal-clear audio and impeccable HD video make our employees feel like they’re right there. In addition, meetings are now instant because people no longer have to download any software. RingCentral Video has by far the simplest and easiest user interface of any meetings application in the market, which makes it a clear winner.”

Michael P. Moxley, Vice President of Service Delivery, Goosehead

“RingCentral Video is a testament to the company’s continuous focus on innovation. With its simple and elegant user interface, RingCentral Video takes us one step closer to enhancing employee productivity for our teams. By removing all the complexities related to joining, hosting, and scheduling meetings RingCentral Video is hands down the easiest way for our teams to collaborate.”

Chad Reese, Senior Director, Senior Director of Technology, The Pro Football Hall of Fame

“Communications and collaboration is critical to our success at The Pro Football Hall of Fame. Offered as part of RingCentral’s unified application and integrated with a broad set of industry solutions, RingCentral Video enables us to share experiences, both internally and externally, as we work together on shaping a better future.”

ISV Partners

Brad Armstrong, Vice President, Business and Corporate Development, Slack Technologies

“Slack’s integration with RingCentral Video brings the context of Slack conversations into meeting experiences, seamlessly connecting team collaboration to communication. Not only does this enhance productivity, but it drives alignment across the organization. We look forward to continuing to work with RingCentral on this impactful partnership, and help our shared customers unlock productivity in their organizations.”

Anthony Cresci, Vice President, Business Development, Theta Lake

“RingCentral Video makes joining, hosting, and scheduling a meeting very easy with a seamless user experience. Theta Lake’s compliance artificial intelligence paired with RingCentral can effectively and efficiently identify regulatory and conduct risks in what is said, shown, and shared in each recording along with automating the archiving, eDiscovery, and supervision of recordings.”

Channel Partners

Craig Chumley EVP Cloud, Managed Services and Marketing ConvergeOne

“As a platinum partner ConvergeOne is very excited about the continual innovation of RingCentral. Video is now at the forefront of enabling companies to achieve a much more connected workforce experience.”

Adam Edwards, Co-Founder & CEO, Telarus

“Our independent sales partners know that customers seek an effortless experience, a quality meeting, and ample integrations to tie their most used applications. RingCentral Video delivers all of these and we’re proud to recommend RingCentral Video to our selling partners for their most demanding customers.”

Analysts/Influencers

Jon Arnold, Principal, J Arnold and Associates

“RCV is a solution RingCentral has been working towards for some time, and they have carefully listened to how collaboration needs are evolving. The main focus is on end users, who now get an effortless experience across voice, video and text with no downloads required across a full set of third-party applications. They have also listened to the needs of IT by providing rich usage analytics and supporting RCV with always-up network reliability.”

Jeremiah Owyang, Founding Partner, Kaleido Insights

“Home-based workers are busier than ever, managing personal affairs, the health of their household, and a frantic work schedule in a new environment – from their homes. The most important thing they will need is simplicity, to quickly connect, engage, and collaborate with their colleagues, customers and partners to drive business outcomes.”

Irwin Lazar, Vice President and Service Director, Nemertes Research

“Our research shows that video buyers demand ease of use, low cost, integration, and quick start times. With its WebRTC-based client, team collaboration integration, and its ability to leverage the RingCentral platform for high availability, RingCentral Video will enable customers to realize identified benefits of video including better support for remote work, reduced travel, cost savings, faster hiring, higher sales close rates, improved customer engagement, and more engaged meetings.”

Dave Michels, Principal Analyst, TalkingPointz

“Modern UCaaS increasingly includes voice, chat, and meetings. It's great to see RingCentral embrace WebRTC as an open, browser-based technology for its Meetings capability. The integration between the RingCentral services simplifies communications as conversations transition across different modalities. RingCentral Video leverages proven, scalable, and secure technologies for meetings while still allowing RingCentral to create its own, differentiated experience.”

BELMONT, Calif. & DALLAS--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions and AT&T (NYSE:T) today announced that AT&T Office@Hand powered by RingCentral now provides enhanced HD video capabilities through new RingCentral Video™ technology.

At a time where remote work solutions are more critical than ever, AT&T Office@Hand enables businesses to instantly activate and easily manage a remote workforce using voice, video meetings and messaging. By adding RingCentral’s Video technology, AT&T Office@Hand Meetings provides HIPAA and FINRA-compliant capabilities to businesses with stringent security and accessibility requirements.

“The nature of work changed overnight, and video is now an absolute necessity to keep businesses moving,” said Roman Pacewicz, Chief Product Officer, AT&T Business. “We’re all in this together, and we know that tools like AT&T Office@Hand are about more than just productivity. It can help minimize the isolation users can feel while being at home. It can help better balance work and everything that is hectic in their personal lives.”

AT&T will offer the AT&T Office@Hand Premium solution at no cost to eligible customers for 60 days to help schools (K-12), healthcare providers, and nonprofits stay connected in response to COVID-19.

AT&T Office@Hand users benefit from RingCentral’s industry-leading technology paired with AT&T’s intelligent network and trusted business solutions. All users also get AT&T Office@Hand Meetings alongside mobile-first phone, fax, and SMS capabilities.

“We are excited to work with AT&T to provide business solutions that fit rapidly changing and evolving customer needs,” said Anand Eswaran, President and COO of RingCentral. “The AT&T Office@Hand solution with the new RingCentral Video technology delivers a highly secure, modern voice and video collaboration experience to AT&T’s business customers to enable their employees to work productively from anywhere.”

AT&T Office@Hand is powered by RingCentral’s superior carrier-grade cloud communications platform for HD voice and video featuring built-in quality-of-service reporting and robust encryption. It also features pre-integration with AT&T SD-WAN and AT&T SD-WAN NOW that optimize voice and video quality to enable cost-effective enterprise deployments for distributed locations.

Learn more about AT&T Office@Hand here.

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 Video and the RingCentral logo are trademarks of RingCentral, Inc.

About AT&T Communications

We help family, friends and neighbors connect in meaningful ways every day. From the first phone call 140+ years ago to mobile video streaming, we innovate to improve lives. We have the nation’s fastest wireless network.** And according to America’s biggest test, we have the nation’s best wireless network.*** We’re building FirstNet just for first responders and creating next-generation mobile 5G. With a range of TV and video products, we deliver entertainment people love to talk about. Our smart, highly secure solutions serve nearly 3 million global businesses – nearly all of the Fortune 1000. And worldwide, our spirit of service drives employees to give back to their communities.

AT&T Communications is part of AT&T Inc. (NYSE:T). Learn more at att.com/CommunicationsNews.

AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information about AT&T products and services is available at about.att.com. Follow our news on Twitter at @ATT, on Facebook at facebook.com/att and on YouTube at youtube.com/att.

© 2020 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

**Based on analysis by Ookla® of Speedtest Intelligence® data average download speeds for Q4 2019. Ookla trademarks used under license and reprinted with permission.

***GWS OneScore, September 2019.

View source version on businesswire.com:  https://www.businesswire.com/news/home/20200402005248/en/

Santa Clara & Belmont, Calif.  –  Avaya Holdings Corp. (NYSE: AVYA), a global leader in solutions to enhance and simplify communications and collaboration, and RingCentral Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration and contact center solutions, today announced general availability of the highly anticipated Avaya Cloud Office™ by RingCentral® solution.

Avaya Cloud Office enhances the way organizations communicate with customers, partners and with colleagues through an all-in-one solution that delivers seamless collaboration across multiple channels. By enabling voice calls, team messaging, meetings, conferencing, file sharing and more, Avaya Cloud Office empowers workforces to meet, share and collaborate productively no matter where they are. 

“Organizations of all kinds are adapting to new ways for their employees to communicate, collaborate and be productive, regardless of their location or the device they’re using, with the help of easy-to-use cloud solutions that empower a mobile, remote workforce,” said Jim Chirico, Avaya President and CEO. “Avaya Cloud Office provides a comprehensive yet simple communications app for a world where communications and collaboration tools are more critical than ever before. As we engage our extensive customer base to help them address the rapidly evolving future of work, new offerings like Avaya Cloud Office are an ideal solution to meet their needs.”

“In the current environment where working from anywhere, including home, is not just a matter of preference but a matter of necessity and safety, the challenge is real for businesses as they work to maintain productivity through these difficult times,” said Vlad Shmunis, RingCentral Founder, Chairman and CEO. “Cloud solutions enable people to work from anywhere, and we believe that with Avaya Cloud Office by RingCentral, businesses can keep moving forward. Our goal is to make remote work feel as in-person as possible, so people can feel connected and engaged with one another during these unprecedented times and beyond.”

With Avaya Cloud Office, customers can:

• Communicate and collaborate using voice, video, team messaging, SMS and fax capabilities

• Transform their business communications at a pace that’s right for them

• Simplify communications through one app available on a wide range of devices and locations

• Easily scale any time

• Receive industry-leading security and support from a global leader in communications and collaboration solutions

• Take advantage of RingCentral’s open platform APIs and over 200 pre-built business solution integrations combined with Avaya enterprise-grade features and services 

• Have the ease of compatibility with Avaya phones and devices, including: J139, J169 and J179 Series phones, and additional devices to be added

“The launch of Avaya Cloud Office is a real game-changer in the UCaaS market,” said Elka Popova, Vice President, Information and Communications Technologies, Frost & Sullivan. “Avaya’s innovation, partner community and global services reach combined with the market-leading RingCentral platform provides an unprecedented opportunity for customers migrating to cloud communications. We are all seeing the importance of collaboration solutions that enable remote work increasing globally, and Avaya Cloud Office is a tremendous example of the kind of solution that will enable the future of work.”

“We have a very successful relationship with Avaya and RingCentral and are excited about this powerful new collaboration solution,” said Mike Baur, Chairman and CEO, ScanSource, Inc. “Our channel partners are ready for Avaya Cloud Office, as it’s adaptable, flexible and easy to use. ScanSource is uniquely positioned to support our community of Value-Added Resellers and Sales Agents in deploying the Avaya Cloud Office solution. With our design, pre-sale and technical support teams, coupled with our training, education and consulting services, we can enable partners to quickly ramp up their sales in what is becoming a critical moment in time for the remote workforce.”

Avaya has signed five master agents to launch Avaya Cloud Office, including Jenne, Inc., ScanSource, Inc., AVANT Communications, Synnex Corporation and Telarus LLC. Additionally, nearly 800 channel partner agents have been onboarded to sell Avaya Cloud Office, with scores of these being new to sell Avaya solutions. Sales and partner training has been underway since February, with well over a thousand sellers trained across Enterprise, MidMarket, SMB and SLED customer segments.

• Read the blog: Avaya Cloud Office Is Here, and Your Workplace Will Never be the Same

About Avaya

Businesses are built on the experiences they provide, and every day millions of those experiences are built by Avaya (NYSE: AVYA). For over one hundred years, we’ve enabled organizations around the globe to win - by creating intelligent communications experiences for customers and employees. Avaya builds open, converged and innovative solutions to enhance and simplify communications and collaboration - in the cloud, on-premise or a hybrid of both. To grow your business, we’re committed to innovation, partnership, and a relentless focus on what’s next. We’re the technology company you trust to help you deliver Experiences that Matter. Visit us at https://www.avaya.com  © 2020 Avaya Holdings Corp. All rights reserved. Avaya, Avaya Cloud Office and the Avaya logo are trademarks of Avaya Holdings Corp.

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.

BELMONT, Calif. — SKC Communications, a nationwide leader in cloud-based solutions, will join RingCentral’s award-winning channel partner program to bring industry-leading cloud communications and contact center solutions to enterprise customers across the US.

“An increasing number of organizations across industry verticals are transitioning from legacy on-premise systems to cloud communications solutions for effective customer communication and collaboration,” said Jeff Holton, CTO at SKC Communications. “By adding RingCentral’s market-leading unified communications as a service (UCaaS) and contact center offerings to our portfolio, we will be able to bring our customers the leading solutions they need to achieve greater business outcomes.”

RingCentral works with world-class distributors, master agents, channel partners, and carrier partners to deliver cloud communications solutions to businesses around the world. Ranked in the CRN 5-Star Partner Program Guide for five years in a row and recognized as a leader in the Gartner 2019 Magic Quadrant for Unified Communications as a Service Worldwide, RingCentral provides mobile-first voice, video meetings, team messaging, digital customer engagement and integrated contact center solutions as a complete, seamless experience. Easier to manage and more flexible and cost-efficient than legacy, on-premise communications systems, RingCentral’s cloud solutions meet the needs of today’s mobile and distributed workforce.

“SKC Communications has a strong network of business customers thanks in part to its industry expertise in unified communications and ability to exceed customer expectations,” said Zane Long, SVP of Global Channel Sales, RingCentral. “We look forward to working with them to help their customers modernize their communications infrastructure by transitioning to cloud solutions.”

LONDON, United Kingdom – 23.03.2020 – Westcon-Comstor, the global technology distributor, has today announced the expansion of its partnership with RingCentral, Inc. (NYSE: RNG) into France.

RingCentral is the leading provider of global enterprise cloud communications, collaboration, and contact center solutions. RingCentral gives teams, partners, and customers the ability to communicate, collaborate, and connect the way they want, from anywhere, on any device.

Westcon-Comstor has been acting as Master Agent for RingCentral in the UK and Ireland since July 2019, and has been a platinum partner since November 2019. The expansion of this partnership between Westcon-Comstor and RingCentral into France brings a new generation of cloud communications solutions to channel partners in the region.

Marianne Nickenig, Vice President for Westcon Collaboration & Networking EMEA, at Westcon-Comstor, said: “We are pleased to be expanding the partnership with RingCentral with the addition of France. Our work together in the UK and Ireland has been a great success so far, bringing benefits to partners throughout the region, and we are looking forward to expanding this further.”

Nickenig added, “Trust and transparency are fundamental to every Master Agent relationship. We work to ensure that we support partners to easily buy, sell or deploy cloud solutions with all the elements needed for success; with our BlueSky cloud management platform, partners have complete visibility of every deal. We believe that our approach will yield successful results for RingCentral as well as our partners in France. We are committed to a long and fruitful partnership together.”

“Weston-Comstor is a leader in enterprise tech and we are excited to expand this partnership into France,” said Zane Long, SVP of global channel sales, RingCentral. “We have seen growing international demand for cloud communications, and together, we look forward to helping French businesses transition to the cloud to streamline communications across their organizations.”

About Westcon-Comstor

Westcon-Comstor is a global technology distributor with annual revenues that exceed US$3 billion. Operating in more than 70 countries, it delivers business value and opportunity by connecting the world’s leading IT vendors with a channel of technology resellers, systems integrators and service providers. It combines industry insight, technical know-how and more than 30 years of distribution experience to deliver value and accelerate vendor and partner business success. It goes to market through two lines of business: Westcon and Comstor.

WestconComstor.com | Twitter | Facebook

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.

RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE:RNG) today announced the pricing of $1.0 billion aggregate principal amount of 0% Convertible Senior Notes due 2025 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). The notes priced with a 50% conversion premium to the volume weighted average price per share (approximately $240.28 per share) of RingCentral’s Class A common stock (the “common stock”) on February 27, 2020.

Key elements of the transaction today include:

• $1.0 Billion 0% Convertible Senior Notes Offering (up 50% Conversion Premium)
• RingCentral redemption option, on or after March 5, 2022 (as detailed below)
• Capped Call purchased in conjunction with 0% Convertible Senior Notes due 2025 with a cap price of approximately $481
• Repurchase of approximately $172.5 million aggregate principal amount of 0% Convertible Senior Notes due 2023 issued in 2018

RingCentral also granted the initial purchasers of the notes an option to purchase, during a 13-day period from, and including, the initial issuance date of the notes, up to an additional $150 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on March 3, 2020, subject to customary closing conditions, and is expected to result in approximately $986.5 million in net proceeds to RingCentral after deducting the initial purchasers’ discounts and estimated offering expenses payable by RingCentral (assuming no exercise of the initial purchasers’ option).

The notes will be senior, unsecured obligations of RingCentral. The notes will not bear interest, and the principal amount of the notes will not accrete. The notes will mature on March 1, 2025, unless earlier repurchased, redeemed or converted. In addition, RingCentral may redeem the notes, at its option and subject to certain conditions, on or after March 5, 2022 as detailed below.

Capped Call purchased in conjunction with 0% Convertible Senior Notes due 2025: In conjunction with the issuance of the notes, RingCentral entered into capped call transactions with a cap price of approximately $480.56 (representing a premium of 100% over the volume weighted average price of the common stock on February 27, 2020). The capped call transactions are scheduled to expire in February 2024.

Repurchase of 0% Convertible Senior Notes due 2023 issued in 2018: RingCentral also agreed to repurchase approximately $172.5 million aggregate principal amount of its outstanding 0% Convertible Senior Notes due 2023 (the “2023 Notes”).

Use of Proceeds: RingCentral intends to use the net proceeds of the offering for the following purposes:

• Approximately $60.9 million of the net proceeds to pay the cost of the capped call transactions described above
• Approximately $509.6 million of the net proceeds from the offering of notes to repurchase approximately $172.5 million of the aggregate principal amount of its outstanding 2023 Notes through individual privately negotiated transactions entered into concurrently with the offering of the notes (collectively, the “Note Repurchases”). The Note Repurchases, and the potential related market activities by selling holders of the 2023 Notes (such as the unwinding of certain derivatives or the purchases of shares of common stock that RingCentral expects to occur in connection with the Note Repurchases), could have the effect of increasing, or limiting a decline in, the market price of the common stock.
• The remainder of the net proceeds for general corporate purposes, which may include working capital, capital expenditures, repayment of debt, potential acquisitions and strategic transactions of businesses, technologies or product. However, RingCentral has not designated any specific uses and have no current agreements with respect to any material acquisition or strategic transaction.

Additional Details for the new 0% Convertible Senior Notes due 2025 (up 50% Conversion Premium)

Conversion Features: The volume weighted average price per share of the common stock on February 27, 2020 was approximately $240.28 per share. With a conversion premium of approximately 50%, the initial conversion rate for the notes is 2.7745 shares of common stock per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $360.43 per share). Prior to the close of business on the business day immediately preceding December 1, 2024, the notes will be convertible at the option of the note holders only upon the satisfaction of specified conditions and during certain periods. Thereafter until the close of business on the scheduled trading day preceding the maturity date, the notes will be convertible at the option of the noteholders at any time regardless of these conditions. Conversions of the notes will be settled in cash, shares of the common stock or a combination thereof, at RingCentral’s election.

Redemption Option: RingCentral may redeem the notes, at its option, on or after March 5, 2022, at a redemption price equal to 100% of the principal amount thereof, plus any accrued and unpaid special interest, if any, if the last reported sale price of the common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which RingCentral provides written notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which RingCentral provides written notice of redemption.

Holders of notes may require RingCentral to repurchase their notes upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a purchase price equal to 100% of the principal amount thereof, plus any accrued and unpaid special interest, if any, to, but excluding, the date of repurchase. In connection with certain corporate events or if RingCentral issues a notice of redemption, it will, under certain circumstances, increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or convert its notes called for redemption during the relevant redemption period.

Additional Details for the Capped Call Transactions

Capped Call Transactions: In connection with the pricing of the notes, RingCentral entered into capped call transactions with an initial purchaser or its affiliate and other financial institutions (the “hedge counterparties”). The capped call transactions are expected generally to reduce or offset the potential dilution to the common stock upon any conversion of notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. The cap price of the capped call transactions will initially be approximately $480.56 per share, which represents a premium of 100% over the volume weighted average price of the common stock of approximately $240.28 per share on February 27, 2020, and is subject to certain adjustments under the terms of the capped call transactions. If the initial purchasers exercise their option to purchase additional notes, RingCentral intends to enter into additional capped call transactions with the hedge counterparties.

RingCentral expects that, in connection with establishing their initial hedge of the capped call transactions, the hedge counterparties will enter into various derivative transactions with respect to the common stock and/or purchase shares of the common stock concurrently with, or shortly after, the pricing of the notes. These activities could increase (or reduce the size of any decrease in) the market price of the common stock or the notes at that time. In addition, RingCentral expects that the hedge counterparties may modify their hedge positions by entering into or unwinding various derivatives with respect to the common stock and/or by purchasing or selling shares of the common stock or other securities of RingCentral in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so on each exercise date of the capped call transactions and in connection with any early termination event in respect of the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of the notes, could affect the amount and value of the consideration that noteholders will receive upon conversion of the notes.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

The notes and the shares of common stock issuable upon conversion of the notes, if any, will not be registered under the Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Act and applicable state laws.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether RingCentral will be able to consummate the offering, the satisfaction of customary closing conditions with respect to the offering of the notes, prevailing market conditions, the anticipated use of net proceeds of the offering of the notes which could change as a result of market conditions or for other reasons, whether the capped call transactions will become effective, whether the Note Repurchases will close and the impact of general economic, industry or political conditions in the United States or internationally. Forward-looking statements may be identified by the use of the words “may,” “will,” “expect,” “intend” and other similar expressions. These forward-looking statements are based on estimates and assumptions by RingCentral’s management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks. Actual results may differ materially from those anticipated or predicted by RingCentral’s forward-looking statements. All forward-looking statements are subject to other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2019 and the risks discussed in our other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and RingCentral undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof, except as required by applicable law.

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE:RNG) today announced its intention to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of convertible senior notes due 2025 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). RingCentral also expects to grant the initial purchasers of the notes an option to purchase, during a 13-day period from, and including, the initial issuance date of the notes, up to an additional $150 million aggregate principal amount of the notes.

The notes will be senior, unsecured obligations of RingCentral. The notes will be convertible into cash, shares of RingCentral’s Class A common stock (“common stock”), or a combination thereof, at RingCentral’s election. The conversion rate and other terms of the notes are to be determined upon pricing of the offering. The notes will also be redeemable at the option of RingCentral after a specified date if certain conditions are met.

In connection with the pricing of the notes, RingCentral expects to enter into capped call transactions with one or more of the initial purchasers or other financial institutions or their affiliates (the “hedge counterparties”). The capped call transactions are expected generally to reduce or offset the potential dilution to the common stock upon any conversion of notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. RingCentral anticipates that the cap price of the capped call transactions will initially represent a premium of approximately 100% over the last reported sale price of the common stock on the pricing date of the offering. If the initial purchasers exercise their option to purchase additional notes, RingCentral intends to enter into additional capped call transactions with the hedge counterparties.

RingCentral expects that, in connection with establishing their initial hedge of the capped call transactions, the hedge counterparties will enter into various derivative transactions with respect to the common stock and/or purchase shares of the common stock concurrently with, or shortly after, the pricing of the notes. These activities could increase (or reduce the size of any decrease in) the market price of the common stock or the notes at that time. In addition, RingCentral expects that the hedge counterparties may modify their hedge positions by entering into or unwinding various derivatives with respect to the common stock and/or by purchasing or selling shares of the common stock or other securities of RingCentral in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so on each exercise date of the capped call transactions and in connection with any early termination event in respect of the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of the notes, could affect the amount and value of the consideration that noteholders will receive upon conversion of the notes.

RingCentral intends to use a portion of the net proceeds of the offering of the notes to pay the cost of the capped call transactions described above. RingCentral also intends to use a portion of the net proceeds from this offering to repurchase up to 1.0 million shares of the common stock from certain purchasers of notes concurrently with the offering of notes (the “Share Repurchase”), to repurchase up to approximately $230 million of the aggregate principal amount of its outstanding 0% Convertible Senior Notes due 2023 (the “2023 Notes”) for cash through individually privately negotiated transactions concurrently with the offering of the notes (collectively, the “Note Repurchase”), or for a combination of the foregoing; provided that RingCentral does not anticipate using more than approximately $650 million of the net proceeds from the offering to finance the Share Repurchase and Note Repurchase on a combined basis. Any Share Repurchase or Note Repurchase, and the potential related market activities by selling holders of the 2023 Notes (such as the unwinding of certain derivatives or the purchases of shares of common stock that RingCentral expects to occur in connection with any Note Repurchase), could have the effect of increasing or limiting a decline in the market price of the common stock. RingCentral intends to use the remainder of the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, repayment of debt, potential acquisitions and strategic transactions of businesses, technologies or product. However, RingCentral has not designated any specific uses and has no current agreements with respect to any material acquisition or strategic transaction.

The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Act. Neither the notes nor the shares of common stock issuable upon conversion of the notes, if any, have been, nor will be, registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

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.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether RingCentral will be able to consummate the offering, the final terms of the offering and the capped call transactions, the satisfaction of customary closing conditions with respect to the offering of the notes, prevailing market conditions, the anticipated use of net proceeds of the offering of the notes which could change as a result of market conditions or for other reasons, whether the capped call transactions will become effective, whether any Share Repurchase or Note Repurchase will close and the impact of general economic, industry or political conditions in the United States or internationally. Forward-looking statements may be identified by the use of the words “may,” “will,” “expect,” “intend” and other similar expressions. These forward-looking statements are based on estimates and assumptions by RingCentral’s management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks. Actual results may differ materially from those anticipated or predicted by RingCentral’s forward-looking statements. All forward-looking statements are subject to other risks detailed in our Annual Report on Form 10-K for the year ended December 31, 2019 and the risks discussed in our other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and RingCentral undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof, except as required by applicable law.

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, announced today that CRN _® , a brand of The Channel Company, has named RingCentral’s SVP of Global Channel Sales, Zane Long, to its prestigious list of 2020 Channel Chiefs for the fourth consecutive year. The executives on this annual list are distinguished leaders who continue to drive growth and influence the IT channel with cutting-edge strategies and partnerships.

Each of the 2020 Channel Chiefs have shown outstanding commitment, an ability to lead, and a passion for progress within the channel through their partner programs. Channel Chief honorees were chosen by the CRN editorial staff for their dedication, industry prestige, and exceptional accomplishments in driving the channel agenda and evangelizing the importance of channel partnerships.

Long has succeeded in driving consistent growth in global channel partner bookings during his tenure at RingCentral. Under his leadership in Q4 2019, RingCentral’s channel business reached $300 million in annual recurring revenue (ARR), up 63% year-over-year. The channel has also contributed greatly to the company’s midmarket and enterprise business, with this segment now a $479 million ARR business that grew 59% year-over-year in Q4 2019.

“The IT channel is undergoing constant evolution to meet customer demands and changing business environments,” said Bob Skelley, CEO of The Channel Company. “CRN’s Channel Chiefs work tirelessly, leading the industry forward through superior partner programs and strategies with a focus on helping solution providers transform and grow. Our team here at The Channel Company congratulates these outstanding individuals for their dedication to the channel.”

“Channel has been a key growth driver for RingCentral, and we’re proud to see Zane’s ongoing leadership efforts and achievements recognized by The Channel Company,” said Anand Eswaran, president and chief operating officer of RingCentral. “Zane has cultivated a strong channel harmony program that makes partners successful. We look forward to seeing this momentum continue in 2020.”

CRN’s 2020 Channel Chiefs list will be featured in the February 2020 issue of CRN Magazine and online at www.CRN.com/ChannelChiefs.

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.

About The Channel Company

The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelcompany.com

Follow The Channel Company: Twitter, LinkedIn, and Facebook.

© 2020. CRN is a registered trademark of The Channel Company, LLC. All rights reserved.

BELMONT, Calif. & PARIS--(BUSINESS WIRE)-- 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 that Atos will add RingCentral as the preferred provider of Unified Communications as a Service (UCaaS) solutions. Atos and RingCentral will enter into a System Integrator (SI) relationship and will introduce a co-branded UCaaS solution. The co-branded solution will be a key part of Atos’ Digital Workplace client and partner offer, complementing its existing OpenScape UC solutions.

“We are excited to welcome Atos as our first global Systems Integrations partner, creating opportunities for RingCentral to provide our global cloud communications platform to large, marquee customers in Atos’ digital transformation practice,” said Vlad Shmunis, founder, chairman and CEO, RingCentral. “Atos provides a new dimension of long-term growth as we continue to lead the charge in UC to UCaaS transformation with our unwavering commitment to innovation and strong culture of strategic partnerships.”

Atos is a global leader in enabling digital transformation with annual revenue of approximately $13 billion. Atos is ranked #1 in Europe for Cloud, Cybersecurity and High-Performance Computing. Atos supports the digital transformation of its clients across all business sectors including: healthcare, energy and utilities, telecom and media, retail and transport, public sector, defense, manufacturing, financial services and insurance. The co-branded solution will help grow its global market opportunity for larger digital transformation projects.

“RingCentral’s world-class communications platform combined with Atos’ proven leadership in Digital Workplace solutions provides our customers the opportunity to further streamline their digital transformation projects across all lines of business IT,” said Elie Girard, CEO, Atos. “With an Atos installed base ranging across large enterprises and governmental agencies, we are excited about the potential of the new strategic partnership.”

Along with this strategic partnership, RingCentral will acquire IP from Atos, including a portfolio of certain patents.

About Atos

Atos is a global leader in digital transformation with over 110,000 employees in 73 countries and annual revenue of over € 11 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 technology space. Its expertise and services support the development of knowledge, education as well as multicultural and pluralistic approaches to research that contribute to scientific and technological excellence. Across the world, the group enables its customers, employees and collaborators, and members of societies at large to live, work and develop sustainably and confidently in the information technology space.

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, 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 plans to partner with Atos to offer a co-branded UCaaS solution and the anticipated benefits of and activity under RingCentral’s strategic partnership with Atos, including the ability to create long-term growth opportunities for RingCentral and RingCentral’s leadership in UC to UCaaS transformation. 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 perform their obligations under the commercial arrangement, the parties ability to successfully develop and execute the envisioned jointly developed programs, technology and automation, the ability to successfully transition customers to RingCentral’s UCaaS solution, 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 September 30, 2019, 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.

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

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, collaboration, and contact center solutions, today announced financial results for the fourth quarter ended December 31, 2019.

Fourth Quarter Financial Highlights

• Total revenue increased 34% year over year to $253 million.
• Subscriptions revenue increased 33% year over year to $229 million.
• Annualized Exit Monthly Recurring Subscriptions (ARR) increased 32% year over year to $960 million.
• RingCentral Office® ARR increased 36% year over year to $877 million.
• Mid-market and Enterprise ARR increased 59% year over year to $479 million.
• Enterprise ARR increased 71% year over year to $293 million.
• Channel ARR increased 63% year over year to $300 million.

“Fourth quarter results were outstanding, driven by continued momentum in mid-market and enterprise markets. We are very excited to have surpassed our previous goal of a $1 billion annual revenue run-rate ahead of schedule,” said Vlad Shmunis, RingCentral’s founder, chairman and CEO. “Our success is rooted in our deep commitment to product excellence and a culture of strategic partnerships, as evidenced by our unique relationships with AT&T, Avaya, and now Atos. These partnerships are a strong validation of our industry leadership and provide additional opportunities for our long-term growth.”

Financial Results for the Fourth Quarter 2019

• Revenue: Total revenue was $253 million for the fourth quarter of 2019, up from $189 million in the fourth quarter of 2018, representing 34% growth.
• Operating Income (Loss): GAAP operating loss was ($20) million, compared to a GAAP operating loss of ($3) million in the same period last year, primarily driven by higher share-based compensation, amortization of intangibles, and acquisition related matters. Non-GAAP operating income was $24 million, compared to a non-GAAP operating income of $17 million in the same period last year.
• Net Income (Loss) Per Share: GAAP net loss per share was ($0.30), compared to ($0.07) in the same period last year, primarily driven by higher share-based compensation, amortization of intangibles, and acquisition related matters. Non-GAAP net income per diluted share was $0.22, compared to $0.23 per diluted share in the same period last year. The fourth quarter of 2019 reflected a 22.5% non-GAAP tax rate, compared to nearly 0% non-GAAP tax rate in our 2018 reporting. There were no material cash taxes given our net operating loss carryforwards.
• Balance Sheet: Total cash and cash equivalents at the end of the fourth quarter of 2019 was $344 million, which reflects one-time payments related to our recent strategic partnerships. This compares with $583 million at the end of the third quarter of 2019.

Financial Results for the Full Year 2019

• Revenue: Total revenue was $903 million for 2019, up from $674 million in 2018, representing 34% growth.
• Operating Income (Loss): GAAP operating loss was ($46) million, compared to a GAAP operating loss of ($16) million in 2018, primarily driven by higher share-based compensation, amortization of intangibles, and acquisition related matters. Non-GAAP operating income was $83 million, compared to a non-GAAP operating income of $59 million in 2018.
• Net Income (Loss) Per Share: GAAP net loss per share was ($0.64), compared to ($0.33) in 2018, primarily driven by higher share-based compensation, amortization of intangibles, and acquisition related matters. Non-GAAP net income per diluted share was $0.82, compared to $0.77 in 2018. 2019 reflected a 22.5% non-GAAP tax rate, compared to a nearly 0% non-GAAP tax rate in 2018 reporting. There were no material cash taxes given our net operating loss carryforwards.

Additional Highlights

• Announced that Anand Eswaran, former Corporate Vice President for Microsoft’s Global Enterprise Business, has joined the company as its President and Chief Operating Officer.
• Named a November 2019 Gartner Peer Insights Customers’ Choice for Unified Communications as a Service Worldwide as reviewed by customers. RingCentral received an overall rating of 4.5 out of 5 stars, based on 125 reviews, as of October 31, 2019.
• Announced that Carousel, Telarus, and Westcon have been named Platinum Partners by RingCentral, a designation held by RingCentral’s most strategic partners.

Financial Outlook

Full Year 2020 Guidance:

• Total revenue range of $1.125 to $1.135 billion, representing annual growth of 25% to 26%.
• Subscriptions revenue range of $1.019 to $1.027 billion, representing annual growth of 25% to 26%.
• GAAP operating margin between (10.9%) and (9.6%).
• Non-GAAP operating margin between 9.6% and 9.7%.
• Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
• Non-GAAP EPS range of $0.93 to $0.94 based on 94.5 million fully diluted shares. This reflects additional imputed shares from the convertible debt due to stock price appreciation and shares issued to Avaya in November 2019, which if excluded would have increased the guidance range by $0.04.
• Share-based compensation range of $185 to $195 million, amortization of debt discount of $22 million, and amortization of acquired intangibles range of $34 to $36 million.

First Quarter 2020 Guidance:

• Total revenue range of $257 to $259 million, representing annual growth of 28% to 29%.
• Subscriptions revenue range of $233 to $235 million, representing annual growth of 28% to 29%.
• GAAP operating margin range of (10.3%) to (9.5%).
• Non-GAAP operating margin of 8.0% to 8.1%.
• Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
• Non-GAAP EPS of $0.18 to $0.19 based on 93.0 million fully diluted shares.
• Share-based compensation range of $37 to $38 million, amortization of debt discount of $5 million, and amortization of acquired intangibles range of $8.5 to $9.0 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 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 fourth quarter of 2019 and outlook for first quarter and the full year of 2020.
• When: Monday, February 10, 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 February 17, 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 13698019.

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 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, and has offices around the world.

©2020 RingCentral, Inc. All rights reserved. RingCentral 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 contribution of the channel, the success of our relationships with AT&T, Avaya, and Atos in broadening our global sales reach, and our market opportunity. 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: our ability to realize the anticipated benefits of our relationships with AT&T, 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; 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 September 30, 2019, 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) and Non-GAAP net income (loss) per diluted share. 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.

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

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

Other Measures

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

Disclaimer

Gartner, Gartner Peer Insights ‘Voice of the Customer’: Unified Communications as a Service, Worldwide, Peer Contributors, 10 December 2019.

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

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.