RingCentral Q1 revenue $584M (+9% YoY) beats guidance; raises FY revenue/FCF outlook; $250M buyback authorized

RingCentral, Inc.

2024-Q1 EPS reported -$0.31 revenue$584,211,000

Total revenue $584M (+9% YoY); subscriptions $557M (+10%); ARR $2.37B (+10%).
GAAP op loss $11M (improved from $55M loss); non-GAAP op margin 20.7% (up 350bps); non-GAAP EPS $0.87 vs $0.76.
Raises FY subscription rev guide to $2.267-2.287B (8-9%); total rev $2.379-2.399B; non-GAAP EPS $3.59-3.67; FCF $385-390M.
Board increased share repurchase authorization by $250M to ~$375M remaining; repurchased $80M in Q1.
Landed 40,000-seat Fortune 500 retailer deal (largest UCaaS win); RingSense AI won Best Overall at Enterprise Connect.

item 2.02 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RingCentral, Inc. reported first quarter ended March 31, 2024 results: revenue $584 million, EPS ($0.31). Guidance raised.

Period: first quarter ended March 31, 2024
Revenue: $584 million
EPS: ($0.31)
Guidance: raised
Result: reported results

Exact text from the filing

event solutions, today announced financial results for the first quarter ended March 31, 2024. First Quarter Financial Highlights • Total revenue increased 9% year-over-year to $584 million. • Subscriptions revenue increased 10% year-over-year to $557 million. • Annualized Exit Monthly Recurring Subscriptions (ARR) increased 10% year over year to $2.37 billion. •

View on SEC.gov

1349 earnings releases filed in the last 30 days. Browse all earnings releases →

RingCentral, Inc. filing history →

Source: SEC EDGAR

accession 0001384905-24-000035

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.