From Wall Street – RingCentral – CY2018-Q1

Current Highlights

The highlights for FY2018-Q1 (CY2018-Q1) are as follows:

  • Total quarterly revenue increased 34% year-over-year to $150 million. Approximately 70% of revenues are collected through credit card payments.
  • 96% of revenues are from North America.
  • Software subscriptions revenue increased 32% year over year to $137 million.
  • Annualized Monthly Recurring Subscriptions (ARR) increased 31% year over year to $589 million, of which $509 million is from RingCentral Office.
  • Management cited strength with mid-market (up 77%) and enterprise customers (up 110%). Customers with >50 seats now represent ~35% of revenues.
  • Company announced a contact center version of RingCentral and a separate solution to monitor critical call center metrics and provide automated alerts via RingCentral Glip team messages.
  • Company entered meeting space with RingCentral Collaborative Meetings.