8-K
filed February 20, 2024, 6:59 PM ET
ticker RNG
CIK 0001384905
earnings
confidence high
sentiment positive
materiality 0.80
RingCentral Q4 rev $571M (+9%), non-GAAP EPS $0.86; FY24 rev outlook $2.37-2.40B
RingCentral, Inc.
2023-FY EPS reported
-$1.74
revenue$2,202,429,000
- Q4 revenue $571M (+9% YoY); subscriptions $547M (+9%); ARR $2.33B (+11%).
- Non-GAAP operating margin 20.5% (up 650 bps); non-GAAP EPS $0.86 vs $0.60.
- Record Q4 operating cash flow $114M (19.9% rev); adjusted unlevered FCF $97M.
- FY2024 guidance: total revenue $2.37-2.40B (8-9% growth); non-GAAP EPS $3.50-3.58; op margin 21.0%.
- Board additions: Ned Segal (Dec 2023) and Prat Bhatt (Mar 2024); repurchased $253M of 2025 notes.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
RingCentral, Inc. reported the fiscal quarter ended December 31, 2023 results: revenue $571 million, EPS ($0.50).
- Period
- the fiscal quarter ended December 31, 2023
- Revenue
- $571 million
- EPS
- ($0.50)
- Result
- reported results
Exact text from the filing
Financial Results for the Fourth Quarter 2023 • Revenue: Total revenue was $571 million for the fourth quarter of 2023, up from $525 million in the fourth quarter of 2022, representing 9% growth. Adjusted for constant currency, total revenue rose 8%. Subscriptions revenue of $547 million increased 9% year over year and accounted for 96% of total revenue. Adjusted for constant currency, subscriptions revenue rose 9%. • Operating Income (Loss): GAAP operating loss was ($45) million, compared to ($256) million in the same period last year. Non-GAAP operating income was $117 million, or 20.5% of total revenue, compared to $73 million, or 14.0% of total revenue, in the same period last year. • Adjusted EBITDA: Adjusted EBITDA was $138 million, or 24.2% of total revenue, compared to $93 million, or 17.7% of total revenue, in the same period last year. • Net Income (Loss) Per Share: GAAP net loss per share was ($0.50), compared to ($2.97) in the same period last year. Diluted non-GAAP net inc
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
RingCentral, Inc. reported the fiscal year ended December 31, 2023 results: revenue $2.202 billion, EPS ($1.74).
- Period
- the fiscal year ended December 31, 2023
- Revenue
- $2.202 billion
- EPS
- ($1.74)
- Result
- reported results
Exact text from the filing
Financial Results for the Full Year 2023 • Revenue: Total revenue was $2.202 billion for 2023, up from $1.988 billion in 2022, representing 11% growth. Adjusted for constant currency, total revenue rose 11%. Subscriptions revenue of $2.100 billion increased 11% and accounted for over 95% of total revenue. Adjusted for constant currency, subscriptions revenue rose 11%. • Operating Income (Loss): GAAP operating loss was ($199) million, compared to ($649) million in 2022. Non-GAAP operating income was $420 million, or 19.1% of total revenue, compared to $246 million, or 12.4% of total revenue, in 2022. • Adjusted EBITDA: Adjusted EBITDA for 2023 was $503 million, or 22.8% of total revenue, compared to $318 million, or 16.0% of total revenue, for 2022. • Net Income (Loss) Per Share: GAAP net loss per share was ($1.74), compared to ($9.23) in 2022. Diluted non-GAAP net income per share was $3.23, compared to $1.99 per share in 2022.
View on SEC.gov
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