RingCentral Announces Third Quarter 2024 Results
RingCentral, Inc. Class A (RNG)
Last ringcentral, inc. class a earnings: 2/10 04:05 pm
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Source: Business Wire
Q3 2024 revenue above high end of guidanceAchieves GAAP operating profitability in Q3 2024Raising 2024 revenue, net cash provided by operating activities and free cash flow outlook BELMONT, Calif.--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG), a global leader in AI-powered trusted business communications for companies of all sizes, today announced financial results for the third quarter ended September 30, 2024.Third Quarter Financial HighlightsTotal revenue increased 9% year-over-year to $609 million.Subscriptions revenue increased 10% year-over-year to $583 million.Annualized Exit Monthly Recurring Subscriptions (ARR) increased 9% year-over-year to $2.48 billion.Enterprise ARR increased 11% year-over-year to $1.07 billion.GAAP operating margin of 0.5%, compared to (9.7%) in the prior year.Stock-based compensation as percent of total revenue of 14.0%, down 630 basis points year-over-yearNon-GAAP operating margin of 21.0%, up 190 basis points year-over-year.Net cash provided by o
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- 11/7/24 - Beat
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- 11/21/24 - Form 144
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