RingCentral, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>RingCentral, Inc. has filed its 2023 10-K report detailing financial performance and operational data.</b>

AI Summary

RingCentral, Inc. (RNG) filed a Annual Report (10-K) with the SEC on February 22, 2024. RingCentral, Inc. filed its 2023 Form 10-K on February 22, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data and business operations for the period. Key financial statement items such as common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are detailed for fiscal years 2020 through 2023. Revenue segments including 'License and Service' and 'Product and Service Other' are reported for fiscal years 2021, 2022, and 2023. The company's principal executive offices are located at 20 Davis Drive, Belmont, CA 94002.

Why It Matters

For investors and stakeholders tracking RingCentral, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of RingCentral's financial health and strategic positioning for investors and analysts to assess its performance and future prospects. The detailed breakdown of revenue segments and equity accounts offers insights into the company's growth drivers and capital structure.

Risk Assessment

Risk Level: — RingCentral, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative developments beyond the routine disclosure of performance and financial position.

Analyst Insight

Review the detailed financial statements and segment revenues within the 10-K to understand RingCentral's performance drivers and identify any significant trends or changes from prior periods.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-02-22 — Filing Date (The date the 10-K was filed with the SEC.)

Key Players & Entities

• RingCentral, Inc. (company) — Filer of the 10-K report.
• 20 Davis Drive, Belmont, CA 94002 (location) — Business and mailing address of RingCentral, Inc.
• 2023-12-31 (date) — Fiscal year end date for the reported period.
• 2024-02-22 (date) — Filing date of the 10-K report.

FAQ

Industry Context

RingCentral operates in the cloud communications and collaboration services industry, providing software-based solutions for businesses.

Regulatory Implications

The filing is subject to SEC regulations governing public company disclosures, including the requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue breakdown by segment (License and Service vs. Product and Service Other) for trends.
2. Examine the changes in equity accounts (Common Stock, Additional Paid-In Capital, Retained Earnings) over the past few fiscal years.
3. Review any disclosed risk factors, although none were explicitly detailed in the provided header information.

Key Dates

• 2024-02-22: 10-K Filing — Annual report filing for fiscal year 2023.

Year-Over-Year Comparison

This is the initial 10-K filing provided for analysis, so a comparison to a previous filing is not possible with the given data.

Key Financial Figures

• $0.0001 — RNG New York Stock Exchange par value $0.0001 Securities registered pursuant to sec
• $32.73 — 30, 2023, based on the closing price of $32.73 for shares of the Registrant's common s

Filing Documents

• rng-20231231.htm (10-K) — 2919KB
• rng-20231231xex1025.htm (EX-10.25) — 76KB
• rng-20231231xex211.htm (EX-21.1) — 22KB
• rng-20231231xex231.htm (EX-23.1) — 2KB
• rng-20231231xex311.htm (EX-31.1) — 10KB
• rng-20231231xex312.htm (EX-31.2) — 10KB
• rng-20231231xex321.htm (EX-32.1) — 4KB
• rng-20231231xex322.htm (EX-32.2) — 4KB
• rng-20231231xex971.htm (EX-97.1) — 41KB
• rng-20231231_g1.jpg (GRAPHIC) — 56KB
• 0001384905-24-000013.txt (&nbsp;) — 12853KB
• rng-20231231.xsd (EX-101.SCH) — 73KB
• rng-20231231_cal.xml (EX-101.CAL) — 115KB
• rng-20231231_def.xml (EX-101.DEF) — 466KB
• rng-20231231_lab.xml (EX-101.LAB) — 1065KB
• rng-20231231_pre.xml (EX-101.PRE) — 750KB
• rng-20231231_htm.xml (XML) — 1536KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 54 Item 1C. Cybersecurity 54 Item 2.

Properties

Properties 55 Item 3.

Legal Proceedings

Legal Proceedings 55 Item 4. Mine Safety Disclosures 56 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 57 Item 6. [Reserved] 59 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 60 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 74 Item 8. Consolidated Financial Statements and Supplementary Data 76 Item 9. Change in and Disagreements with Accountants on Accounting and Financial Disclosure 113 Item 9A.

Controls and Procedures

Controls and Procedures 113 Item 9B. Other Information 114 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 114 PART III Item 10. Directors, Executive Officers, and Corporate Governance 115 Item 11.

Executive Compensation

Executive Compensation 124 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 151 Item 13. Certain Relationships and Related Transactions and Director Independence 154 Item 14. Principal Accountant Fees and Services 156 PART IV Item 15. Exhibits 158 2 Table of Contents PART I. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. The forward-looking statements are contained principally in, but not limited to, the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipates", "believes", "could", "seeks", "estimates", "expects", "intends", "may", "plans", "potential", "predicts", "projects", "should", "will", "would" or similar expressions and the negatives of those terms. Forward-looking statements include, but are not limited to, statements about: our progress against short-term and long-term goals; our future financial performance; our anticipated growth, growth strategies and our ability to effectively manage that growth and effect these strategies; our success in all market segments; anticipated trends, developments and challenges in our business and in the markets in which we operate, as well as general macroeconomic conditions and geopolitical conflicts; our ability to scale to our desired goals, particularly the implementation of new processes and systems and the addition to our workforce; the impact of competition in our industry and innovation by our competitors; our ability to anticipate and adapt to future changes in our industry; our ability to predict subscriptions revenues, formulate accurate financial projections, and make strategic

BUSINESS

ITEM 1. BUSINESS Overview We are a leading provider of AI-driven cloud business communications, contact center, video and hybrid event solutions. We believe that our innovative solutions enable smarter interactions among customers and employees, turning conversations into meaningful insights that drive better business outcomes. Our cloud-based business solutions are designed to be easy to use, providing a global user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. Our solutions can be deployed rapidly and configured and managed easily. Our cloud-based solutions are location and device independent and better suited to address the needs of modern mobile and global enterprise workforces than are legacy on-premises systems. Through our open platform, we enable third-party developers and customers to develop integrations and workflows using our robust set of Application Programming Interfaces ("APIs") and software developers' kits ("SDKs"). For today's mobile and highly distributed workforce, RingCentral empowers people to connect from anywhere on any device, across any mode of communication. This gives today's workforce the ability to communicate more productively and seamlessly in ways that traditional on-premises systems do not support. RingCentral offers a fully integrated business communications platform, which includes cloud private branch exchanges ("PBX"), cloud contact center, video meetings and webinars, and events. RingCentral is focused on embedding AI into our product portfolio, which we believe is a key product differentiator for the markets and customers we serve. 4 Table of Contents Our cloud communications and customer engagement solutions are based on our Message Video Phone (MVP) platform. This open platform enables seamless integration with third-party and custom software applications, helping improve business workflows, drive higher employee productivity and enhance better customer servic

View Full Filing

View this 10-K filing on SEC EDGAR