📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

RingCentral, Inc., an agentic voice AIâpowered cloud business communication services provider, delivering an integrated platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding RNG

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	1.21M	$45.1M	0.07%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly cited specific metrics: revenue at high end of guidance, record free cash flow of $144M, first positive GAAP operating and net income, 3000 AIR customers (triple prior quarter), 3600 RingSense customers, 1200 RingCX customers. Language like 'solid quarter', 'executing on strategy', 'strong momentum', and 'uniquely positioned' reinforces confidence. Numbers were precise and tied to guidance beats.

Q3 2025

Confident Specific

Management repeatedly used phrases like 'another strong quarter', 'record margins', 'strong free cash flow', and provided specific figures (e.g., 6% subscription revenue growth, 22.8% operating margin, $130M free cash flow), indicating high confidence backed by concrete numbers.

Q4 2025

Confident Specific

Management repeatedly used terms like 'strong', 'record', 'milestones', and 'excited'. They provided concrete figures (record FCF >$500M, AI ARR tripled, first dividend) and framed the company as transforming into an agentic voice AI leader.

Q1 2026 latest

Confident Specific

Management used strong positive language ('record GAAP and non-GAAP operating margins', 'solid quarter', 'meaningful progress') and repeatedly cited specific numbers (e.g., 11,800 AIR customers up 40% QoQ, 23% non-GAAP margin, $600M FCF guidance). No hedging or cautious phrasing was present.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis strengthens after this call. RingCentral delivered record operating margins and free cash flow while simultaneously demonstrating accelerating adoption of its AI-native products, which are lifting ARPU and retention. The company successfully refinanced a 2026 convertible maturity, eliminated near-term maturities until 2030, and began paying a dividend—all signs of a maturing, cash-generating business. Key watch items for next quarter: whether subscription revenue growth can inflect above 5% as AI product momentum builds, how quickly GSP channel contributions from new AI offerings ramp, and continued progress on SBC reduction toward the medium‑term 3%–4% target. The balance of growth, profitability, and capital returns is increasingly compelling, though sustained AI monetization at scale remains the most important variable.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED RingCentral Q1: $644M revenue, $2.7B ARR, ~$600M FCF, AI ARR doubles YoY.

Revenue & Profitability

Total revenue in Q1 2026 was $644 million, up 5.3% year-over-year, with subscription revenue of $623 million, up 5.6%. Non-GAAP operating margin was ~23%, up 110 bps YoY, and GAAP operating margin reached a record 7.8%, up 600 bps YoY. Free cash flow was $140 million in Q1, and full-year 2026 free cash flow guidance was raised to approximately $600 million. Non-GAAP EPS guidance for 2026 is $4.85–$5.01.

Outlook

Management sees AI, especially agentic voice AI, as a major expansion of the customer engagement market, with RingCentral uniquely positioned to capture it. They believe the hybrid model of AI and humans working together will persist, and the company is benefiting from ongoing migrations from on-prem legacy systems to the cloud. The only headwind mentioned is price rationalization at the high end and lapping of COVID-era contracts.

Growth Drivers

Key growth levers include the RCAI AI portfolio, which more than doubled ARR year-over-year and is growing double-digits sequentially. AIR customers grew over 40% sequentially to 11,800, ACE customers grew 85% YoY to 5,200, RingCX customers grew over 70% YoY to 1,700, and CEB reached 5,000 customers. New customer wins include Coca-Cola UNITED, a Fortune 500 insurer, the New York Mets, and Casio. International growth is supported by SMS notifications in 190 countries.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Non-GAAP operating margin expanded 110 bps YoY to ~23% in Q1, with full-year guidance raised to 23.3%–23.7%. GAAP operating margin hit a record 7.8%, improved 600 bps YoY, and is expected to reach 8.9%–9.6% for the full year. Margin expansion is structural, driven by operating leverage from high recurring revenue, disciplined hiring, offshoring, vendor consolidation, and internal AI use. SBC declined to 9% of revenue in Q1 and is expected to be ~9% for 2026, down from 11% in 2025.

Key Risks

Risks explicitly mentioned include forward-looking uncertainties, price rationalization at the high end, and the lingering impact of COVID-era contracts being repriced. In Q&A, management addressed the risk of AI decoupling, asserting that the integrated platform and global scale are significant barriers to competitive disruption.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-23

Q2 2026 results exceeded guidance with strong revenue, margin, and free cash flow growth, driven by rapid adoption of AI-led products now representing 13% of ARR. Guidance for FY26 was raised across all key metrics, and capital returns increased via a higher dividend and share buybacks.

Q1 2026 Q1 2026 2026-05-07

Q1 revenue and margins exceeded guidance, with strong AI product adoption and robust free cash flow. Full-year outlook was raised across revenue, margins, and cash flow, while capital returns and debt reduction continued. AI-driven innovation and hybrid models are fueling growth.

Q4 2025 Q4 2025 2026-02-19

Delivered strong 2025 results with 5% revenue growth, record free cash flow, and expanding margins. AI products now drive nearly 10% of ARR, boosting ARPU and retention. 2026 guidance calls for continued growth, higher profitability, and increased capital returns.

Q3 2025 Q3 2025 2025-11-03

Q3 saw 5% revenue growth and record margins, driven by strong AI-led product adoption and disciplined cost management. Free cash flow outlook was raised to $525–$530 million, and the company is on track to exceed $100 million in ARR from new AI products by year-end.

Q2 2025 Q2 2025 2025-08-05

Q2 revenue and profitability exceeded guidance, driven by strong AI product adoption and robust growth in SMB and enterprise segments. Free cash flow and margins expanded, with improved capital allocation and reduced stock-based compensation. Board increased buyback authorization to $500 million.

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