RingCentral, Inc. (NYSE:RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.
Fourth Quarter Financial Highlights
- Total revenue increased 17% year over year to $525 million.
- Subscriptions revenue increased 19% year over year to $502 million.
- Annualized Exit Monthly Recurring Subscriptions (ARR) increased 17% year over year to $2.10 billion.
- Mid-market and Enterprise ARR increased 20% year over year to $1.30 billion.
- GAAP operating margin of (48.7)%, compared to (23.0)% in the prior year
- Record non-GAAP operating margin of 14.0%, up 340 basis points year over year