Ringcentral, Inc.
29.67-0.81 (-2.66%)
Oct 29, 4:00:02 PM EDT · NYSE · RNG · USD
Key Stats
Market Cap
2.69BP/E (TTM)
-Basic EPS (TTM)
-0.13Dividend Yield
0%Recent Filings
8-K
RingCentral, Inc. has entered into an amended and restated credit agreement effective September 11, 2025, refinancing its existing term loans with new facilities totaling $1.24 billion, including a $310 million term loan, $280 million revolving credit, and $650 million delayed draw term loan, all with 2030 maturities and springing features linked to convertible notes. Financial covenants include a total net leverage ratio starting at 4.75:1.00, stepping down to 4.00:1.00 by December 31, 2024, and a minimum interest coverage ratio of 3.50:1.00. The agreement maintains collateral and guarantees from subsidiaries and allows for additional incremental facilities.
RingCentral, Inc. has amended and restated its existing credit agreement to refinance its term loans and establish new facilities. The key changes include a $310 million initial term loan facility, a $280 million revolving credit facility, and a $650 million delayed draw term loan facility, all maturing in 2030 with potential springing maturities tied to convertible notes. The agreement includes financial covenants requiring a maximum total net leverage ratio stepping down over time and a minimum interest coverage ratio of 3.50:1.00. The facilities are secured by collateral and guaranteed by subsidiaries, with provisions for incremental facilities up to $620 million plus additional amounts subject to leverage tests. The amendment also updates terms for mandatory prepayments, fees, and other standard provisions.
10-Q
Q2 FY2025 results
RingCentral's Q2 FY2025 10-Q filing highlights a smooth executive transition, with CFO Abhey Lamba resigning effective August 5, 2025, after serving since December 2024, and Vaibhav Agarwal promoted to the role the next day. Lamba will provide transition consulting through December 31, 2025, receiving $292,000 monthly separation payments totaling $1,168,000 plus COBRA coverage. Agarwal's promotion includes a $2,000,000 RSU grant vesting over four years under the 2013 Equity Incentive Plan. Earlier in May 2025, Agarwal received a $500,000 base salary, 100% quarterly MBO target, and $2,750,000 in initial RSUs and performance-based awards. This leadership shift aims to bolster transformation efforts. Yet competition in cloud communications remains a key risk.
8-K
RingCentral Q2 beats with AI surge
RingCentral reported Q2 2025 results with total revenue up 5% to $620 million and subscriptions revenue rising 6% to $599 million, achieving GAAP operating income of $37 million and record free cash flow of $144 million. The company promoted Vaibhav Agarwal to CFO, leveraging his nine-year tenure, while paying down $105 million in debt to cut net debt to $1.1 billion. AI innovations like the tripling of AI Receptionist customers to 3,000 drove momentum, yet forward guidance notes risks from market competition and integration challenges.
10-Q
Q1 FY2025 results
RingCentral's Q1 FY2025 10-Q filing lacks detailed financial statements, focusing instead on an executive offer letter for Kira Makagon as President and COO, dated May 7, 2025. It outlines a $500,000 base salary, quarterly MBO bonus targeting $500,000 annually, and $5 million in initial RSUs vesting quarterly over four years, plus $5 million in performance-based RSUs tied to 2025 metrics. No revenue, EPS, cash flow, or debt figures are disclosed, preventing analysis of y/y or q/q changes. Non-GAAP metrics not disclosed in the 10-Q. Liquidity details absent. This hire signals internal leadership strengthening. Yet competition in cloud communications remains fierce.
8-K
RingCentral Q1 beats expectations
RingCentral reported Q1 2025 revenue of $612 million, up 5% year-over-year, with subscriptions at $590 million growing 6%. The company achieved GAAP operating income of $10 million for the third straight quarter and record free cash flow of $130 million, while surpassing $2.5 billion in ARR. AI products like RingCX and AI Receptionist each hit over 1,000 paying customers, boosting adoption. Full-year guidance projects 4-6% total revenue growth and $500-510 million free cash flow. Debt fell $166 million, yet cash dipped to $154 million after buybacks.
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