earnings
confidence high
sentiment positive
materiality 0.78
RingCentral Q2 beats; raises FY revenue and FCF guidance; non-GAAP EPS $0.91
RingCentral, Inc.
2024-Q2 EPS reported
-$0.47
revenue$1,177,118,000
- Total revenue $593M (+10% YoY); subscriptions $567M (+10%); non-GAAP EPS $0.91 vs $0.83.
- GAAP operating loss narrowed to $5M from $45M; non-GAAP margin 20.9% (up 160 bps).
- Record free cash flow $109M ($395-400M FY); net debt reduction target ≤$1B by end 2026.
- Raised FY subscriptions rev to $2.282-2.288B (+9%); non-GAAP EPS to $3.62-3.67.
- Added Whirlpool, two 10K+ seat deals; Cox Communications selected RingCentral for UCaaS/CCaaS.