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RNG RingCentral

RingCentral, Inc. engages in the provision of global enterprise cloud communications and collaboration solutions. The firms solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones; and allow for communication across multiple modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings and fax. It sells its products under the RingCentral Professional, RingCentral Glip, and RingCentral Fax brands. The company was founded by Vlad Vendrow and Vladimir Shmunis in 1999 and is headquartered in Belmont, CA.

Company profile

Ticker
RNG
Exchange
CEO
Vladimir Shmunis
Employees
Incorporated
Location
Fiscal year end
Former names
RingCentral Inc
SEC CIK

RNG stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

25 Feb 21
8 Mar 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from RingCentral earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 639.85M 639.85M 639.85M 639.85M 639.85M 639.85M
Cash burn (monthly) 35.24M (positive/no burn) 9.58M 12.35M 828K 2.93M
Cash used (since last report) 79.89M n/a 21.72M 28.01M 1.88M 6.65M
Cash remaining 559.97M n/a 618.13M 611.84M 637.98M 633.2M
Runway (months of cash) 15.9 n/a 64.5 49.5 770.5 215.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 377.39 300 113.22K 0
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 375.93 102 38.34K 300
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 375.22 1,399 524.93K 402
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 374.15 899 336.36K 1,801
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 371.99 279 103.79K 2,700
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 371.31 1,821 676.16K 2,979
2 Mar 21 John H Marlow Class A Common Stock Conversion Aquire C Yes No 0 4,800 0 4,800
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 380.19 300 114.06K 0
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 378.51 100 37.85K 300
2 Mar 21 John H Marlow Class A Common Stock Sell Dispose S Yes Yes 377.52 790 298.24K 400
13F holders
Current Prev Q Change
Total holders 539 491 +9.8%
Opened positions 110 66 +66.7%
Closed positions 62 72 -13.9%
Increased positions 191 196 -2.6%
Reduced positions 176 179 -1.7%
13F shares
Current Prev Q Change
Total value 31.45B 21.17B +48.6%
Total shares 82.99M 76.47M +8.5%
Total puts 1.4M 1.27M +10.0%
Total calls 1.17M 1.34M -13.1%
Total put/call ratio 1.2 0.9 +26.5%
Largest owners
Shares Value Change
Capital World Investors 10.98M $4.16B +1.1%
Vanguard 6.95M $2.63B -2.0%
BLK Blackrock 6.63M $2.51B +1.4%
Vladimir Shmunis 5.56M $2.11B NEW
Jennison Associates 4.1M $1.55B -19.6%
Alkeon Capital Management 3.5M $1.33B -4.2%
Tiger Global Management 3.33M $1.26B 0.0%
Capital International Investors 2.25M $853.02M -9.4%
IVZ Invesco 2.16M $817.27M +26.6%
Wellington Management 1.71M $646.67M +44.9%
Largest transactions
Shares Bought/sold Change
Vladimir Shmunis 5.56M +5.56M NEW
TROW T. Rowe Price 1.23M +1.03M +516.7%
Jennison Associates 4.1M -1M -19.6%
Carillon Tower Advisers 539.26K +533.1K +8645.7%
Wellington Management 1.71M +528.56K +44.9%
PKW Parkwood 0 -500K EXIT
IVZ Invesco 2.16M +453.73K +26.6%
Gilder Gagnon Howe & Co 514.47K -447.78K -46.5%
Citadel Advisors 22.5K -365.27K -94.2%
JPM JPMorgan Chase & Co. 1.18M -326.66K -21.6%

Financial report summary

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Risks
  • We have incurred significant losses and negative cash flows in the past and anticipate continuing to incur losses for at least the foreseeable future, and we may therefore not be able to achieve or sustain profitability in the future.
  • Our quarterly and annual results of operations have fluctuated in the past and may continue to do so in the future. As a result, we may fail to meet or to exceed the expectations of research analysts or investors, which could cause our stock price to fluctuate.
  • The global COVID-19 pandemic could harm our business, financial condition and results of operations.
  • Our rapid growth and the quickly changing markets in which we operate make it difficult to evaluate our current business and future prospects, which may increase the risk of investing in our stock.
  • Growth may place significant demands on our management and our infrastructure.
  • Our future operating results will rely in part upon the successful execution of our strategic partnerships with Avaya, Atos/Unify, Alcatel-Lucent Enterprise, Vodafone and others, which may not be successful.
  • We face intense competition in our markets and may lack sufficient financial or other resources to compete successfully.
  • We rely and may in the future rely significantly on our strategic partners, resellers, and carriers to sell our subscriptions; our failure to effectively develop, manage, and maintain our indirect sales channels could materially and adversely affect our revenues.
  • To deliver our subscriptions, we rely on third parties for our network connectivity and for certain of the features in our subscriptions.
  • We rely on third-party software that may be difficult to replace or which could cause errors or failures of our subscriptions.
  • Interruptions or delays in service from our third-party data center hosting facilities and co-location facilities could impair the delivery of our subscriptions, require us to issue credits or pay penalties and harm our business.
  • Failures in Internet infrastructure or interference with broadband access could cause current or potential users to believe that our systems are unreliable, possibly leading our customers to switch to our competitors or to avoid using our subscriptions.
  • Interruptions in our services caused by undetected errors, failures, or bugs in our subscriptions could harm our reputation, result in significant costs to us, and impair our ability to sell our subscriptions.
  • We rely on third parties, including third parties outside the U.S., for some of our software development, quality assurance, operations, and customer support.
  • A cyber-attack, information security breach or denial of service event could delay or interrupt service to our customers, harm our reputation, or subject us to significant liability.
  • Potential problems with our information systems could interfere with our business and operations.
  • We depend largely on the continued services of our senior management and other highly-skilled employees, and if we are unable to hire, retain, manage and motivate our employees, we may not be able to grow effectively and our business, results of operations and financial condition could be adversely affected.
  • Increased customer turnover, or costs we incur to retain and upsell our customers, could materially and adversely affect our financial performance.
  • If we are unable to attract new customers to our subscriptions or upsell to those customers on a cost-effective basis, our business will be materially and adversely affected.
  • A significant portion of our revenues today come from small and medium-sized businesses, which may have fewer financial resources to weather an economic downturn.
  • We face significant risks in our strategy to target medium-sized and larger businesses for sales of our subscriptions and, if we do not manage these efforts effectively, our business and results of operations could be materially and adversely affected.
  • Support for smartphones and tablets are an integral part of our solutions. If we are unable to develop robust mobile applications that operate on mobile platforms that our customers use, our business and results of operations could be materially and adversely affected.
  • If we are unable to develop, license, or acquire new services or applications on a timely and cost-effective basis, our business, financial condition, and results of operations may be materially and adversely affected.
  • If we fail to continue to develop our brand or our reputation is harmed, our business may suffer.
  • If we experience excessive fraudulent activity or cannot meet evolving credit card association merchant standards, we could incur substantial costs and lose the right to accept credit cards for payment, which could cause our customer base to decline significantly.
  • We are in the process of expanding our international operations, which exposes us to significant risks.
  • We may expand through acquisitions of, investments in, or strategic partnerships or other strategic transactions with other companies, each of which may divert our management’s attention, result in additional dilution to our stockholders, increase expenses, disrupt our operations, and harm our results of operations.
  • We may be subject to liabilities on past sales for taxes, surcharges, and fees and our operating results may be harmed if we are required to collect such amounts in jurisdictions where we have not historically done so.
  • We may be unable to use some or all of our net operating loss carryforwards, which could materially and adversely affect our reported financial condition and results of operations.
  • If we are unable to effectively process local number and toll-free number portability provisioning in a timely manner, our growth may be negatively affected.
  • Our business could suffer if we cannot obtain or retain direct inward dialing numbers or are prohibited from obtaining local or toll-free numbers or if we are limited to distributing local or toll-free numbers to only certain customers.
  • We may not be able to manage our inventory levels effectively, which may lead to inventory obsolescence that would force us to incur inventory write-downs.
  • We currently depend on three phone device suppliers and two fulfillment agents to configure and deliver the phones that we sell and any delay or interruption in manufacturing, configuring and delivering by these third parties would result in delayed or reduced shipments to our customers and may harm our business.
  • If our vendor-supplied phones are not able to interoperate effectively with our own back-end servers and systems, our customers may not be able to use our subscriptions, which could harm our business, financial condition and results of operations.
  • We may require additional capital to pursue our business objectives and to respond to business opportunities, challenges or unforeseen circumstances. If capital is not available to us, our business, results of operations, and financial condition may be adversely affected.
  • Our subscriptions are subject to regulation, and future legislative or regulatory actions could adversely affect our business and expose us to liability in the U.S. and internationally.
  • We process, store, and use personal information and other data, which subjects us and our customers to a variety of evolving international statutes, governmental regulation, industry standards and self-regulatory schemes, contractual obligations, and other legal obligations related to privacy and data protection, which may increase our costs, decrease adoption and use of our solutions and subscriptions, and expose us to liability.
  • Our emergency and E-911 calling services may expose us to significant liability.
  • We rely on third parties to provide the majority of our customer service and support representatives and to fulfill various aspects of our E-911 service. If these third parties do not provide our customers with reliable, high-quality service, our reputation will be harmed, and we may lose customers.
  • Accusations of infringement of third-party intellectual property rights could materially and adversely affect our business.
  • Our limited ability to protect our intellectual property rights could materially and adversely affect our business.
  • Our use of open source technology could impose limitations on our ability to commercialize our subscriptions.
  • The market price of our Class A Common Stock is likely to be volatile and could decline.
  • The dual class structure of our common stock as contained in our charter documents has the effect of concentrating voting control with a limited number of stockholders that held our stock prior to our initial public offering, including our founders and our executive officers, employees and directors and their affiliates, and venture capital investors, and limiting other stockholders’ ability to influence corporate matters.
  • We have never paid cash dividends and do not anticipate paying any cash dividends on our common stock.
  • We may not have the ability to raise the funds necessary to settle conversions of the Notes in cash or to repurchase the Notes upon a fundamental change or pay the principal amount of the Notes at maturity, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the Notes.
  • The conditional conversion feature of each series of Notes, if triggered, may adversely affect our financial condition and operating results.
  • The capped call transactions may affect the value of the Notes and our Class A Common Stock and we are subject to counterparty risk.
  • Anti-takeover provisions in our restated certificate of incorporation and bylaws and under Delaware corporate law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our Class A Common Stock.
  • Changes in effective tax rates, or adverse outcomes resulting from examination of our income or other tax returns, could adversely affect our results of operations and financial condition.
  • Changes in U.S. and foreign tax laws could have a material adverse effect on our business, cash flow, results of operations or financial conditions.
  • If our internal control over financial reporting is not effective, it may adversely affect investor confidence in our company.
  • The nature of our business requires the application of complex revenue and expense recognition rules and the current legislative and regulatory environment affecting generally accepted accounting principles is uncertain. Significant changes in current principles could affect our financial statements going forward and changes in financial accounting standards or practices may cause adverse, unexpected financial reporting fluctuations and harm our operating results.
  • Our corporate headquarters, one of our data centers and co-location facilities, our third-party customer service and support facilities, and a research and development facility are located near known earthquake fault zones, and the occurrence of an earthquake, tsunami, or other catastrophic disaster could damage our facilities or the facilities of our contractors, which could cause us to curtail our operations.
  • If research analysts do not publish research or reports about our business, or if they issue unfavorable commentary or downgrade our Class A Common Stock, our stock price and trading volume may decline.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
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Removed: ACCOUNTANT, anniversary, awarded, DIRECTOR, enabled, Evernote, foster, Github, hard, inflexible, influenced, IPO, logic, mandatory, match, MINE, proliferation, remitted, repatriation, reseller, taxation, territorial, Traditionally, Undistributed, UNRESOLVED

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