RingCentral Announces Third Quarter 2022 Results

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 third quarter ended September 30, 2022.

Third Quarter Financial Highlights

  • Total revenue increased 23% year over year to $509 million.
  • Subscriptions revenue increased 25% year over year to $483 million.
  • Annualized Exit Monthly Recurring Subscriptions (ARR) increased 25% year over year to $2.05 billion.
  • Mid-market and Enterprise ARR increased 29% year over year to $1.25 billion.
  • GAAP operating margin of (35.9%), compared to (20.1%) in the prior year.
  • Record non-GAAP operating margin of 13.5%, up 300 basis points year over year.
  • Net cash provided by operating activities was $42 million and non-GAAP free cash flow was $21 million.

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