RingCentral, Inc. RNG
Over the past 26 years, RingCentral has transformed business communications, leading the shift from on-premises legacy communications to the cloud. Today, the company has an AI-powered, multi-product portfolio including Unified Communications as a Service ("UCaaS"), Contact Center as a Service ("CCaaS"), RingCentral AI solutions, Video and Events. RingCentral's core tenets include: a) Trust: We provide a carrier-grade, cloud based communications platform that businesses can trust with reliability, security, and privacy; b) Innovation: We plan to invest approximately $250 million in research and development in 2026 to execute through focused and strategic innovation, setting the bar in the industry for many market firsts; c) Partnerships: We have a diverse set of strategic partners, global service providers, channel partners, and third-party developers. RingCentral is designed for intelligent, connected, and effortless businesses communications, making employee and customer experiences more productive and efficient.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.52B | $2.40B | $2.20B | $1.99B | $1.59B | $1.18B | $902.9M | $673.6M | $503.6M | $380.4M |
| Cost of revenue | $723.2M | $705.5M | $664.3M | $641.7M | $448.4M | $323.6M | $231.0M | $157.1M | $121.3M | $92.2M |
| Gross profit | $1.79B | $1.69B | $1.54B | $1.35B | $1.15B | $860.0M | $671.8M | $516.5M | $382.3M | $288.2M |
| R&D | $317.0M | $329.3M | $335.9M | $362.3M | $309.7M | $189.5M | $136.4M | $101.0M | $75.1M | $65.5M |
| SG&A | $258.4M | $266.4M | $333.0M | $292.9M | $284.3M | $200.0M | $142.0M | $102.8M | $72.3M | $55.5M |
| Total operating expenses | $1.67B | $1.69B | $1.74B | $2.00B | $1.45B | $973.3M | $717.5M | $532.9M | $387.7M | $301.1M |
| Operating income | $120.6M | $2.7M | -$198.8M | -$649.5M | -$301.8M | -$113.2M | -$45.7M | -$16.4M | -$5.3M | -$12.9M |
| Interest expense | $60.3M | $65.0M | $36.0M | $4.8M | $64.4M | $49.3M | $20.5M | $16.1M | $99.0K | $746.0K |
| Pre-tax income | $56.2M | -$47.2M | -$156.8M | -$874.1M | -$373.7M | -$82.1M | -$56.9M | -$26.1M | -$3.9M | -$16.0M |
| Income tax | $12.8M | $11.1M | $8.4M | $5.1M | $2.5M | $934.0K | $3.3M | $140.0K | $258.0K | $236.0K |
| Net income | $43.4M | -$58.3M | -$165.2M | -$879.2M | -$376.2M | -$83.0M | -$53.6M | -$26.2M | -$4.2M | -$16.2M |
| EPS, basic | 0.48 | -0.63 | -1.74 | -9.23 | -4.10 | -0.94 | -0.64 | — | — | — |
| EPS, diluted | 0.48 | -0.63 | -1.74 | -9.23 | -4.10 | -0.94 | -0.64 | -0.33 | -0.06 | -0.22 |
| Shares, diluted (wtd. avg.) | $91.2M | $92.1M | $94.9M | $95.2M | $91.7M | $88.7M | $83.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $132.6M | $242.8M | $222.2M | $270.0M | $267.2M | $639.9M | $343.6M | $566.3M | $181.2M | $160.4M |
| Receivables | $384.1M | $386.3M | $364.4M | $311.3M | $232.8M | $176.0M | $130.0M | $94.4M | $46.7M | $30.2M |
| Inventory | $929.0K | $1.2M | $1.5M | $1.2M | $5.7M | $551.0K | $401.0K | $199.0K | $198.0K | $63.0K |
| Total current assets | $765.2M | $871.1M | $848.6M | $796.0M | $650.7M | $926.1M | $535.5M | $707.5M | $264.8M | $205.9M |
| Property, plant and equipment | $186.6M | $180.7M | $184.4M | $185.4M | $166.9M | $142.2M | $89.2M | $70.2M | $43.3M | $32.0M |
| Goodwill | $97.8M | $83.0M | $67.4M | $54.3M | $55.5M | $57.3M | $55.3M | $31.2M | $9.4M | $9.4M |
| Other intangibles | $135.4M | $258.5M | $393.8M | $528.1M | $716.6M | $118.3M | $127.3M | $19.5M | $1.5M | $2.2M |
| Total assets | $1.48B | $1.78B | $1.94B | $2.07B | $2.58B | $2.18B | $1.45B | $894.3M | $359.8M | $252.6M |
| Accounts payable | $27.7M | $21.9M | $53.3M | $62.7M | $70.0M | $54.0M | $34.6M | $10.1M | $7.3M | $7.8M |
| Short-term debt | $624.2M | $181.3M | $20.0M | $0 | — | — | — | — | — | $14.5M |
| Total current liabilities | $1.22B | $748.8M | $632.5M | $652.6M | $526.3M | $438.1M | $280.7M | $199.4M | $125.2M | $116.0M |
| Long-term debt | $629.6M | $1.35B | $1.53B | $1.64B | — | — | — | — | — | $312.0K |
| Total liabilities | $1.87B | $2.13B | $2.25B | $2.36B | $2.04B | $1.87B | $705.0M | $576.7M | $131.5M | $122.6M |
| Retained earnings | -$1.71B | -$1.76B | -$1.70B | -$1.53B | -$748.6M | -$372.3M | -$289.3M | -$235.7M | -$209.5M | -$239.5M |
| Total equity | -$588.1M | -$550.9M | -$502.6M | -$482.8M | $339.0M | $308.5M | $745.7M | $317.6M | $228.3M | $164.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $617.4M | $483.3M | $399.7M | $191.3M | $152.2M | -$35.2M | $64.8M | $72.1M | $41.2M | $29.7M |
| Depreciation and amortisation | $87.2M | $86.1M | $82.9M | $72.0M | $58.9M | $39.8M | $27.2M | $18.9M | $15.4M | — |
| Stock-based compensation | $269.7M | $339.1M | $426.7M | $386.0M | $358.0M | $189.6M | $101.4M | $68.1M | $42.1M | $30.8M |
| Capital expenditure | $30.1M | $25.0M | $23.5M | $32.7M | $29.0M | $43.6M | $27.8M | $27.1M | $19.5M | $14.2M |
| Investing cash flow | -$108.0M | -$109.4M | -$90.4M | -$87.2M | -$396.8M | -$107.7M | -$296.8M | -$83.4M | -$26.4M | -$16.4M |
| Financing cash flow | -$623.4M | -$351.1M | -$358.0M | -$98.2M | -$127.1M | $437.6M | $9.0M | $397.3M | $6.8M | $9.3M |
| Buybacks | $334.4M | $322.4M | $311.1M | $99.8M | $0 | $0 | $0 | $15.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001384905-26-000027.
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