NYSE$RNG
RingCentral Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported a revenue increase and raised the full year revenue and free cash flow outlook.
RingCentral announced strong Q2 2024 results, with total revenue up 10% year-over-year to $593 million and subscriptions revenue up 10% to $567 million. The company raised its full-year revenue and free cash flow outlook, driven by solid demand in its core UCaaS business and traction in new products.
- Total revenue increased 10% year-over-year to $593 million.
- Subscriptions revenue increased 10% year-over-year to $567 million.
- ARR increased 9% year over year to $2.43 billion.
- GAAP operating margin improved to (0.9%) from (8.4%) in the prior year.
Headline financials
Revenue & EPS history
RingCentral · Revenue · Quarterly
$593M
Revenue by segment
RingCentral · $531M total across 1 segment · Q3 2023
- Subscriptions Revenue$531M+9.9%100.0%
Forward guidance
RingCentral is raising its full year 2024 guidance for subscriptions revenue to $2.282 to $2.288 billion and total revenue to $2.393 to $2.399 billion. They are also raising non-GAAP EPS to $3.62 to $3.67 and free cash flow to $395 to $400 million.
Tailwinds
- Subscriptions revenue range raised to $2.282 to $2.288 billion, representing annual growth of 9%.
- Total revenue range raised to $2.393 to $2.399 billion, representing annual growth of 9%.
- Non-GAAP EPS raised to $3.62 to $3.67 based on 96.0 to 95.0 million fully diluted shares.
- Free cash flow raised to $395 to $400 million.
- Non-GAAP operating margin maintained at 21.0%.
Headwinds
- GAAP operating margin range updated to (1.3%) to (0.8%) from (1.6%) to (0.9%).
- Share-based compensation range lowered to $370 to $380 million from $380 to $390 million.
- Amortization of acquired intangibles maintained at $140 million.
- Restructuring costs updated to $6 to $7 million from $5 to $7 million.
- Capitalized expenditures continue to be included at $85 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+3.5%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.2%
Avg return
30 days after
68%
34 / 50 earnings
Positive
+34.4%
Q4 2025
Best reaction
-17.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -14.7% | -6.8% | |
| Q4 2025 | +34.4% | +17.3% | +28.0% | |
| Q3 2025 | -8.1% | -10.1% | -2.2% | |
| Q1 2025 | +3.8% | +4.5% | +2.0% | |
| Q4 2024 | -5.9% | -6.7% | -12.6% | |
| Q3 2024 | +1.3% | -3.3% | +9.4% | |
| Q2 2024 | +0.6% | -3.6% | -4.9% | |
| Q1 2024 | +13.4% | +16.8% | +15.0% | |
| Q4 2023 | +3.2% | +1.6% | +17.8% | |
| Q3 2023 | +2.4% | -2.7% | +11.2% | |
| Q2 2023 | -17.7% | -21.1% | -15.0% | |
| Q1 2023 | +13.5% | +2.7% | +25.4% | |
| Q4 2022 | -17.5% | -17.8% | -33.1% | |
| Q3 2022 | +22.5% | +28.3% | +21.4% | |
| Q2 2022 | +8.9% | -2.0% | -12.3% | |
| Q1 2022 | -10.4% | -9.3% | -18.1% | |
| Q4 2021 | -15.5% | -13.1% | -16.6% | |
| Q3 2021 | +22.0% | +19.7% | -19.3% | |
| Q2 2021 | -4.0% | -8.5% | -5.5% | |
| Q1 2021 | -7.6% | -18.3% | -21.1% | |
| Q4 2020 | -5.2% | -3.6% | -28.7% | |
| Q3 2020 | -5.9% | +0.9% | +15.2% | |
| Q2 2020 | +1.9% | -7.3% | +3.8% | |
| Q1 2020 | +10.9% | +17.4% | +8.0% | |
| Q4 2019 | +9.4% | +16.8% | -3.9% | |
| Q3 2019 | +0.0% | +4.9% | +1.9% | |
| Q2 2019 | +10.0% | +10.1% | +10.9% | |
| Q1 2019 | -1.1% | +2.7% | +0.2% | |
| Q4 2018 | +5.0% | +3.7% | +4.8% | |
| Q3 2018 | -1.5% | +8.7% | +4.4% | |
| Q2 2018 | +9.4% | +10.1% | +16.4% | |
| Q1 2018 | +7.7% | +4.3% | +4.5% | |
| Q4 2017 | +9.8% | +21.2% | +30.7% | |
| Q3 2017 | +7.3% | +3.8% | +9.0% | |
| Q2 2017 | -2.7% | -1.1% | +19.3% | |
| Q1 2017 | +0.8% | +5.8% | +14.7% | |
| Q4 2016 | +1.7% | +7.2% | +15.3% | |
| Q3 2016 | -6.7% | -12.6% | -1.1% | |
| Q2 2016 | +5.5% | +1.1% | -1.7% | |
| Q1 2016 | +7.1% | — | — | |
| Q4 2015 | -10.2% | — | — | |
| Q3 2015 | +15.6% | — | — | |
| Q2 2015 | +12.1% | — | — | |
| Q1 2015 | +6.3% | — | — | |
| Q4 2014 | +8.3% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | +18.0% | — | — | |
| Q1 2014 | +7.4% | — | — | |
| Q4 2013 | +14.9% | — | — | |
| Q3 2013 | -0.1% | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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