RNG

MKT CAP:$4B

RingCentral, Inc.

Market Cap

$4B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$38.63+$11.04 (+40.01%)

Apr 23, 2026

Company Details

RingCentral, Inc. provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. The company offers business cloud communications and contact center solutions based on its Message ...

CEO

Vladimir G. Shmunis

IPO Date

Sep 27, 2013

Website

www.ringcentral.com

Key Metrics TTM

Revenue

$2.5B

+4.8% YoY

Net Income

$43M

EPS (Diluted)

$0.48

Free Cash Flow

$636M

Revenue / Share

$28.59

Gross Margin

71.2%

Operating Margin

5.0%

Net Margin

1.7%

FCF Margin

25.3%

P/S

1.4x

P/E

83.8x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 26, 2026

$2.5B+4.8%EPS $0.48

Q4 2025

Feb 26, 2026

$644M+4.8%EPS $0.26

Q3 2025

Nov 4, 2025

$639M+4.9%EPS $0.19

Q2 2025

Aug 7, 2025

$620M+4.6%EPS $0.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$468M	$312M	-$104M
Q2 22	$487M	$329M	-$108M
Q3 22	$509M	$342M	-$183M
Q4 22	$525M	$364M	-$256M
Q1 23	$534M	$373M	-$55M
Q2 23	$539M	$375M	-$45M
Q3 23	$558M	$389M	-$54M
Q4 23	$571M	$401M	-$45M
Q1 24	$584M	$414M	-$11M
Q2 24	$593M	$416M	-$5M
Q3 24	$609M	$429M	$3M
Q4 24	$615M	$436M	$16M
Q1 25	$612M	$432M	$10M
Q2 25	$620M	$441M	$37M
Q3 25	$639M	$458M	$31M
Q4 25	$644M	$460M	$48M

Valuation

Quarter	P/S	P/E
Q1 22	6.6x	—
Q2 22	3.1x	—
Q3 22	2.0x	—
Q4 22	1.7x	—
Q1 23	1.4x	—
Q2 23	1.5x	—
Q3 23	1.3x	—
Q4 23	1.4x	—
Q1 24	1.4x	—
Q2 24	1.2x	—
Q3 24	1.2x	—
Q4 24	1.4x	—
Q1 25	0.9x	—
Q2 25	1.1x	—
Q3 25	1.1x	211.1x
Q4 25	1.1x	61.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$59M	$37M
Q2 22	$51M	$27M
Q3 22	$42M	$21M
Q4 22	$39M	$16M
Q1 23	$109M	$87M
Q2 23	$91M	$73M
Q3 23	$87M	$70M
Q4 23	$114M	$94M
Q1 24	$96M	$77M
Q2 24	$127M	$109M
Q3 24	$127M	$103M
Q4 24	$133M	$112M
Q1 25	$150M	$130M
Q2 25	$167M	$172M
Q3 25	$151M	$144M
Q4 25	$156M	$190M

Capital Expenditures

Quarter	CapEx
Q1 22	$22M
Q2 22	$24M
Q3 22	$22M
Q4 22	$23M
Q1 23	$21M
Q2 23	$18M
Q3 23	$17M
Q4 23	$20M
Q1 24	$19M
Q2 24	$18M
Q3 24	$24M
Q4 24	$21M
Q1 25	$19M
Q2 25	$5M
Q3 25	$8M
Q4 25	$34M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+32.7%	+44.8%
Q2 22	+28.4%	+31.4%
Q3 22	+22.8%	+38.9%
Q4 22	+17.0%	+41.4%
Q1 23	+14.1%	+3.0%
Q2 23	+10.8%	-1.7%
Q3 23	+9.7%	-11.5%
Q4 23	+8.9%	-21.0%
Q1 24	+9.5%	+1.2%
Q2 24	+9.9%	+2.4%
Q3 24	+9.1%	-1.1%
Q4 24	+7.6%	-2.8%
Q1 25	+4.8%	+1.1%
Q2 25	+4.6%	-2.5%
Q3 25	+4.9%	+0.4%
Q4 25	+4.8%	-0.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$98M	20.9%
Q2 22	$101M	20.6%
Q3 22	$96M	18.8%
Q4 22	$92M	17.6%
Q1 23	$98M	18.4%
Q2 23	$105M	19.4%
Q3 23	$112M	20.0%
Q4 23	$112M	19.6%
Q1 24	$88M	15.1%
Q2 24	$87M	14.6%
Q3 24	$84M	13.7%
Q4 24	$80M	13.1%
Q1 25	$78M	12.7%
Q2 25	$63M	10.2%
Q3 25	$65M	10.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$90M	$71M	$254M
Q2 22	$97M	$75M	$265M
Q3 22	$87M	$72M	$262M
Q4 22	$89M	$75M	$275M
Q1 23	$85M	$82M	$260M
Q2 23	$80M	$75M	$264M
Q3 23	$85M	$87M	$271M
Q4 23	$85M	$89M	$273M
Q1 24	$81M	$71M	$273M
Q2 24	$80M	$72M	$269M
Q3 24	$84M	$64M	$277M
Q4 24	$85M	$59M	$277M
Q1 25	$82M	$64M	$272M
Q2 25	$78M	$63M	$264M
Q3 25	$80M	$67M	$285M
Q4 25	$78M	$58M	$276M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	32.7%	-18.8%	13.9
Q2 22	28.4%	-19.7%	8.7
Q3 22	22.8%	-43.3%	-20.6
Q4 22	17.0%	-41.6%	-24.6
Q1 23	14.1%	1.6%	15.7
Q2 23	10.8%	10.0%	20.7
Q3 23	9.7%	5.5%	15.1
Q4 23	8.9%	6.3%	15.1
Q1 24	9.5%	8.2%	17.6
Q2 24	9.9%	10.2%	20.2
Q3 24	9.1%	9.7%	18.7
Q4 24	7.6%	11.9%	19.4
Q1 25	4.8%	11.8%	16.6
Q2 25	4.6%	14.0%	18.7
Q3 25	4.9%	20.3%	25.2
Q4 25	4.8%	15.2%	20.0

Rule of 40

Revenue Segments

Quarter	License and Service	Product	Product and Service, Other
Q1 22	$440M	$11M	—
Q2 22	$463M	—	$24M
Q3 22	$483M	—	$26M
Q4 22	$502M	—	$23M
Q1 23	$508M	—	$25M
Q2 23	$514M	—	$26M
Q3 23	$531M	—	$27M
Q4 23	$547M	—	$24M
Q1 24	$557M	—	$27M
Q2 24	$567M	—	$26M
Q3 24	$583M	—	$26M
Q1 25	$590M	—	$22M
Q2 25	$599M	—	$22M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$302M	$0	$302M
Q2 22	$306M	$0	$306M
Q3 22	$305M	$0	$305M
Q4 22	$270M	$0	$270M
Q1 23	$275M	$0	$275M
Q2 23	$225M	$0	$225M
Q3 23	$432M	$0	$432M
Q4 23	$222M	$0	$222M
Q1 24	$203M	$0	$203M
Q2 24	$199M	$0	$199M
Q3 24	$213M	$0	$213M
Q4 24	$243M	$0	$243M
Q1 25	$154M	$0	$154M
Q2 25	$168M	$0	$168M
Q3 25	$145M	$0	$145M
Q4 25	$133M	$0	$133M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	95M	+1.4%	+4.3%
Q2 22	95M	+0.6%	+4.3%
Q3 22	96M	+0.5%	+4.1%
Q4 22	96M	+0.1%	+2.5%
Q1 23	96M	+0.1%	+1.2%
Q2 23	95M	-0.4%	+0.2%
Q3 23	95M	-0.8%	-1.0%
Q4 23	94M	-0.6%	-1.7%
Q1 24	93M	-0.9%	-2.7%
Q2 24	93M	-0.4%	-2.7%
Q3 24	92M	-0.9%	-2.9%
Q4 24	91M	-1.3%	-3.6%
Q1 25	91M	+0.4%	-2.3%
Q2 25	92M	+1.6%	-0.3%
Q3 25	92M	-0.2%	+0.5%
Q4 25	88M	-4.7%	-3.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$119.3K	4K
Q2 22	$124.2K	4K
Q3 22	$129.9K	4K
Q4 22	$134.5K	4K
Q1 23	$136.8K	4K
Q2 23	$138.2K	4K
Q3 23	$143.0K	4K
Q4 23	$139.9K	4K
Q1 24	$143.0K	4K
Q2 24	$145.2K	4K
Q3 24	$149.1K	4K
Q4 24	$144.3K	4K
Q1 25	$143.7K	4K
Q2 25	$145.6K	4K
Q3 25	$149.9K	4K
Q4 25	$87.3K	7K

Revenue / Employee