NYSE$RNG
RingCentral Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported strong Q3 results, driven by momentum with new products and strength in the core UCaaS market, achieving GAAP operating profitability for the first time and raising the 2024 outlook.
RingCentral announced strong Q3 2024 results, with total revenue increasing by 9% year-over-year to $609 million and subscriptions revenue increasing by 10% year-over-year to $583 million. The company achieved GAAP operating profitability for the first time and raised its 2024 revenue, net cash provided by operating activities, and free cash flow outlook.
- Total revenue increased 9% year-over-year to $609 million.
- Subscriptions revenue increased 10% year-over-year to $583 million.
- ARR increased 9% year over year to $2.48 billion.
- GAAP operating margin of 0.5%, compared to (9.7%) in the prior year.
Headline financials
Revenue & EPS history
RingCentral · Revenue · Quarterly
$609M
Revenue by segment
RingCentral · $531M total across 1 segment · Q3 2023
- Subscriptions Revenue$531M+9.9%100.0%
Forward guidance
RingCentral provided financial outlook for the full year and fourth quarter of 2024.
Tailwinds
- Raising subscriptions revenue range to $2.295 to $2.297 billion, representing annual growth of 9%.
- Raising total revenue range to $2.397 to $2.399 billion, representing annual growth of 9%.
- Raising GAAP operating margin range to (0.7%) to (0.5%) from (1.3%) to (0.8%).
- Maintaining non-GAAP operating margin of 21.0%.
- Raising non-GAAP EPS to $3.69 based on 94.5 million fully diluted shares.
Headwinds
- Subscriptions revenue range of $587.0 to $589.0 million, representing year-over-year growth of 7% to 8% for Q4 2024.
- Total revenue range of $611.0 to $613.0 million, representing year-over-year growth of 7% for Q4 2024.
- GAAP operating margin range of (0.1%) to 0.8% for Q4 2024.
- Share-based compensation range of $85 to $90 million for Q4 2024.
- Restructuring costs of $5 million for Q4 2024.
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 Q3 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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