- RingCentral press release ( NYSE: RNG ): Q3 Non-GAAP EPS of $0.55 beats by $0.04 .
- Revenue of $509M (+22.7% Y/Y) beats by $6.29M .
- Adjusted EBITDA for the third quarter of 2022 was $87 million, or 17.1% of total revenue, compared to $59 million, or 14.2% of total revenue, for the third quarter of 2021.
- Q4 2022 Guidance:
- Subscriptions revenue range of $501.5 to $506.5 million, representing year-over-year growth of 19% to 21%.
- Total revenue range of $523.0 to $529.0 million, representing year-over-year growth of 17% to 18%.
- GAAP operating margin range of (13.5%) to (12.5%).
- Non-GAAP operating margin of 14.0%, up 350 basis points versus last year.
- Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
- Non-GAAP EPS of $0.59 to $0.60 based on 97.0 to 97.5 million fully diluted shares.
- Share-based compensation range of $96 to $100 million.
- Amortization of acquired intangibles of $44 million.
- FY 2022 Guidance:
- Updating subscriptions revenue range to $1.888 to $1.893 billion, representing annual growth of 27% to 28%; reiterating midpoint of $1.890 billion.
- Updating total revenue range to $1.987 to $1.993 billion. This represents annual growth of 25%.
- GAAP operating margin range of (23.4%) to (23.1%) compared to the prior range of (19.2%) to (18.3%).
- Raising non-GAAP operating margin to 12.4%. This is up from our prior outlook of 12.0%.
- Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
- Raising non-GAAP EPS to $1.97 to $1.98 based on 96.5 million fully diluted shares. This is up from our prior range of $1.91 to $1.95 based on 96 to 97 million fully diluted shares.
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RingCentral Non-GAAP EPS of $0.55 beats by $0.04, revenue of $509M beats by $6.29M