RingCentral Q2 rev $539M (+11% YoY), record op margin 19.4%; CEO succession to HPE CFO

RingCentral, Inc.

2023-Q2 EPS reported -$0.79 revenue$1,072,994,000

Q2 revenue $539M (+11% YoY); subscriptions rev $514M (+11%); ARR $2.22B (+12%).
Non-GAAP operating margin 19.4% (record); GAAP loss per share -$0.23, non-GAAP EPS $0.83.
CEO succession: Tarek Robbiati (HPE CFO) to become CEO effective Aug 28, 2023, replacing founder Vlad Shmunis.
Acquired select assets from Hopin (events/session) and launched RingCX, RingSense for Phone.
Full year guidance: rev $2.187-2.205B; raised non-GAAP op margin to 18.5-19.0%; non-GAAP EPS $3.11-$3.25.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

RingCentral, Inc. reported second quarter ended June 30, 2023 results: revenue $539 million, EPS ($0.23). Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $539 million
EPS: ($0.23)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

solutions, today announced financial results for the second quarter ended June 30, 2023. Second Quarter Financial Highlights • Total revenue increased 11% year over year to $539 million. • Subscriptions revenue increased 11% year over year to $514 million. • Annualized Exit Monthly Recurring Subscriptions (ARR) increased 12% year over year to $2.22 billion. •

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Source: SEC EDGAR

accession 0001384905-23-000030

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