- RingCentral press release ( NYSE: RNG ): Q4 Non-GAAP EPS of $0.60 beats by $0.01 .
- Revenue of $525M (+17.2% Y/Y) misses by $2.91M .
- Total revenue increased 17% year over year to $525 million.
- Subscriptions revenue increased 19% year over year to $502 million.
- Annualized Exit Monthly Recurring Subscriptions ( ARR ) increased 17% year over year to $2.10 billion.
- Full Year 2023 Guidance:
- Subscriptions revenue range of $2.080 to $2.100 billion, representing annual growth of 10% to 11%.
- Total revenue range of $2.180 to $2.200 billion vs $2.33B consensus, representing annual growth of 10% to 11%.
- GAAP operating margin range of (8.3%) to (6.9%).
- Non-GAAP operating margin of at least 18.0%.
- Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
- Non-GAAP EPS range of $3.04 to $3.10 vs $2.82 consensus based on 99 to 100 million fully diluted shares.
- Share-based compensation range of $395 to $415 million.
- Amortization of acquisition intangibles of $149 million.
- Restructuring costs range of $5 to $10 million.
- First Quarter 2023 Guidance:
- Subscriptions revenue range of $503 to $505 million, representing annual growth of 14% to 15%.
- Total revenue range of $526 to $530 million vs $545.01M consensus, representing annual growth of 12% to 13%.
- GAAP operating margin range of (11.5%) to (9.4%).
- Non-GAAP operating margin of 16.5%.
- Non-GAAP tax rate assumed to be 22.5%. No material cash taxes expected given net operating loss carryforwards.
- Non-GAAP EPS of $0.69 to $0.70 vs $0.62 consensus based on 96.5 to 97.5 million fully diluted shares.
- Share-based compensation range of $95 to $100 million.
- Amortization of acquisition intangibles of $38 million.
- Restructuring costs range of $5 to $10 million.
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RingCentral Non-GAAP EPS of $0.60 beats by $0.01, revenue of $525M misses by $2.91M