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.