Ringcentral, Inc. · NYSE:RNG
Ringcentral — Q3 2026 Earnings Presentation
39 slides from Ringcentral's earnings presentation, Oct 22, 2026
Slide 1: Voice of Your Business
Voice of Your Business 1 ©2026 RingCentral
Slide 2: Safe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures This presentation includes forward-looking statements within the meaning of the federal We provide guidance on forecasted non-GAAP operating margin, non-GAAP tax rates, securities laws. These statements relate to, among other things, our business strategy and non-GA
Slide 3: Q3 Financial Highlights
Q3 Financial Highlights $676M $653M 24.7% Total Revenue Subscription Revenue Non-GAAP Operating Margin 5.9% Y/Y 6.0% Y/Y Up 190 bps Y/Y $1.33 8.0% $6.50 Non-GAAP EPS GAAP Operating Margin GAAP EPS(1) Up 18% Up 320 bps Y/Y Up 110 bps Y/Y $157M $1.79 1.3x Free Cash Flow Free Cash Flow per share Q3ʼ26
Slide 4: Leader in Agentic Voice AI
Leader in Agentic Voice AI #1 AI 15% ARR 600K In UCaaS w/Cloud PBX RCAI (RingCentral AI-utilizing Customer accounts Seats Market Share (1) customers) (2) Quarterly record $2.8B $250M+ (3) 99% ARR up 6% YoY Committed to R&D Innovation Monthly net retention rate $625M $7.14 $5.10 ‘26 estimated FCF(4)
Slide 5: Why RingCentral
Why RingCentral 1 Complete Customer Engagement Platform 2 Deep Defensible Moat & Expanding TAM 3 Voice Data + Telephony Infrastructure 4 Front Door to B2C Interactions 5 Strong Financial Performance 5 ©2026 RingCentral
Slide 6: Customer Engagement Platform
Customer Engagement Platform AIR AVA ACE AI Receptionist AI Virtual Assistant AI Conversation Expert **RingCollab *RingCX Video, Events, Chat Contact Center RingEX Business Phone RingWEM CE Bundle Workforce CX Lite 40B min/yr Engagement 13B calls/yr 4B SMS/yr Global | Reliable | Secure | Compliant |
Slide 7: Complete Customer Engagement Platform
Complete Customer Engagement Platform RingCentral AI AIR & AIR PRO AVA ACE EX CX Unified Communications (UC) Integrated UC + CE Contact Center (CC) RingEX Customer Engagement Bundle RingCX / RC Contact Center Business Phone, SMS, Omnichannel, Agent Routing, Advanced Meetings, Messaging, Fax, Advance
Slide 8: Deep Defensible Moat
Deep Defensible Moat Three Structural Advantages Carrier-grade Infrastructure Conversational Data Go-To-Market Reach ● Highly reliable and secure ● 40 billion minutes ● Direct sales ● Serves as bedrock for AI ● 13 billion calls ● 16,000 channel partners ● 25+ years of innovation ● 4 billion SMS mess
Slide 9: Voice as a Structural Advantage
Voice as a Structural Advantage Five reasons why voice is difficult to replicate 1 2 3 4 5 911 & Global Taxes & Security & Carrier Emergency Regulation Fees Fraud Interconnect Meet stringent Comply with Manage fragmented Detect AI-driven voice Build trusted carrier emergency regulations country-spec
Slide 10: Strength in Voice & SMS
Strength in Voice & SMS RingCentral Telephony Minutes RingCentral SMS /y* 7% y 40B+ 17% y/y* 3.7B+ FY23 FY24 FY25 3Q26 FY23 FY24 FY25 3Q26 Annualized Annualized *Minutes and SMS Y/Y is based on projected 2026 based on Q1 through Q3 2026 actual minutes/SMS vs. full-year 2025 10 ©2026 RingCentral
Slide 11: 2028 Market Opportunity
$80B Enterprise AI $71B Assistants 2028 Market Opportunity Revenue The Market UCaaS Intelligence Opportunity AI for Customer $40B $39B Experience $33B is Large at $25B $200B+ $27B $27B CPaaS CCaaS $0B 0% 30% 60% * 2025 - 2030 CAGR 1 Gartner, Forecast: Unified Communications, Worldwide, 2024-2030, 2Q
Slide 12: Front Door to B2C Interactions
Front Door to B2C Interactions Automate AIR Assist AVA Transforming Conversations with Agentic Voice AI AI Receptionist AI Virtual Agent Answer & route calls 24/7 Notes & summaries Capture leads Look up Information Schedule appointments Guided assistance CUSTOMERS Employees Analyze ACE AI Conversati
Slide 13: AI Momentum
AI Momentum ✦ AI Adoption Growth in Q3 ‘26 AIR ✦ AIR ~15% of ARR AIR PRO PRO ARR from customers utilizing paid AI products (RCAI) Automate outcomes is over $400M, approaching 15% of total ARR and doubling y/y 100%+ NRR “The AI Flywheel” These customers have 100%+ net retention ✦ ✦ Higher ARPU ACE An
Slide 14: New Product Customer Growth
New Product Customer Growth AI Receptionist (AIR) AI Conversation Expert Customer Engagement RingCX AI voice agent that automatically Bundle (CEB) AI-first contact center answers customers inquiries and (ACE) AI conversational insights Better customer engagement, unified transfers calls calls and te
Slide 15: Unique Go-To-Market
Unique Go-To-Market New / Expanded Partnership GSP AI Entering Italian Market Expanding AI offering in the UK Entering New Zealand Market GSP Partners 15 ©2026 RingCentral
Slide 16: $250m+ in R&D
Innovation (R&D) spend split Rapid AI-first Product Innovation NPI $250m+ in R&D Core Majority of R&D is towards FY24 FY25 FY26 new product innovation We are spending a majority of our R&D on NPI 16 NPI = new product initiatives ©2026 RingCentral
Slide 17: Leadership Recognition
Leadership Recognition ‘26 Synergy UCaaS Market Share UCaaS w/ Cloud PBX (PSTN) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Leader, Omdia 2026 Innovator, Frost & Sullivan, Leader, IDC, 2026 CCaaS Universe 2026 CPaaS Radar Conversational Intelligence 17 ©2026 RingCentral
Slide 18: Customer Win Highlights
Customer Win Highlights RCAI AIR Pro National fitness operator Tech & procurement senior living provider ● Uses ACE to identify key call drivers ● Uses RingEX, RingCX, ACE ● AIR to handle high volume of recurring inquiries ● Adding AIR Pro for multi-step workflows to improve customer experience ● St
Slide 19: Meeting Customers Where they Work
Meeting Customers Where they Work RingCentral provides the context. AI models provide the reasoning. Our new MCP connectors for Anthropicʼs Claude and plugins for OpenAIʼsChatGPT bring in conversational context to drive actions. Plugins for ChatGPT MCP connectors for Claude Thousands <30 days of act
Slide 20: Official Agentic AI Voice Platform of Golden State Warriors
Official Agentic AI Powered Voice Platform for Fan Engagement of Golden State Warriors 20 ©2026 RingCentral
Slide 21: Financials
Financials 21 ©2026 RingCentral
Slide 22: Durable Growth, Improving Margins, Increasing FCF/share
Durable Growth, Improving Margins, Increasing FCF/share Subscription Revenue Total Revenue Operating Profit $M $M $M and % of total rev 24.0-24.2% 22.5% 2,515 2,650 21.0% 637 2,400 566 2,202 -2,657 19.1% - 642 504 2,427 2,563 1,988 2,297 420 2,100 -2,569 1,888 12.4% 246 FYʼ22 FYʼ23 FYʼ24 FYʼ25 FYʼ26
Slide 23: Improving GAAP Financial Performance
Improving GAAP Financial Performance Stock-Based Compensation GAAP Operating Profit GAAP EPS % of revenue % of revenue $ Target: 2nd Consecutive Year of Target: Reduce SBC to 3-4% of Improve GAAP Operating Margin GAAP Profitability expected revenue in 3-4 years to 20% in 2-3 years in 2026 20% 20% 8%
Slide 24: Strong Balance Sheet and Shareholder Returns
Strong Balance Sheet and Shareholder Returns Diluted Share Count Dividends per share M $ 96.2 96.6 $0.125 $0.125 94.5 91.2 $0.075 $0.075 87.5 2022A 2023A 2024A 2025A 2026E Q1'26 Q2'26 Q3'26 Q4'26 Reached target Gross Debt of less than $1B Leverage Ratio $M in gross debt Approaching 1,650 4.3x invest
Slide 25: Expanding FCF & Reducing Share Grants
FCF vs. Shares Granted1 FCF ($M) $M Shares Granted ($M) Expanding FCF & Reducing Share Grants 1. 2026E represents guidance for FCF ($), estimate of Shares Granted ($) based on estimated approved grants (the actual grant date fair value may differ). 25 ©2026 RingCentral
Slide 26: Q4 2026 Guidance
Q4 2026 Guidance Q4 2026 Subscriptions Revenue $653 to $659 mil. Subscriptions Revenue Growth Y/Y 5.0% to 6.0% Total Revenue $673 to $680 mil. Total Revenue Growth Y/Y 4.5% to 5.5% GAAP Operating Margin 13.3% to 14.7% Stock-based Compensation $57 to $62 mil. Non-GAAP Operating Margin(1) 25.0% to 25.
Slide 27: FY 2026 Guidance
FY 2026 Guidance FY 2026 Subscriptions Revenue $2,563 to $2,569 mil. Total Revenue $2,650 to $2,657 mil. GAAP Operating Margin 9.2% to 9.6% Stock-based Compensation $240 to $245 mil. Non-GAAP Operating Margin(1) 24.0% to 24.2% Non-GAAP EPS(1) $5.07 to $5.12 Fully Diluted Share Count 87.5 mil. Net ca
Slide 28: Appendix
Appendix 28 ©2026 RingCentral
Slide 29: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights $ Metric Y/Y Growth Revenue Subscriptions Revenue $653M 6% Total Revenue $676M 6% ARR Total $2,798M 6% We define our annualized exit monthly recurring subscriptions as our monthly recurring subscriptions multiplied by 12. Our monthly recurring subscriptions equal the mon
Slide 30: Net debt to adjusted EBITDA
Net debt to adjusted EBITDA ($millions) Q4'22 Q1'23 Q2'23 Q3'23 Q4ʼ23 Q1ʼ24 Q2ʼ24 Q3ʼ24 Q4ʼ24 Q1ʼ25 Q2ʼ25 Q3ʼ25 Q4ʼ25 Q1'26 Q2'26 Q3ʼ26 Adj. EBITDA $92.7 $112.3 $125.0 $127.8 $138.0 $142.8 $145.8 $149.0 $152.8 $155.1 $161.5 $167.8 $168.7 $169.7 $177.0 $190.3 LTM Adj. EBITDA 317.9 364.7 416.9 457.8 5
Slide 31: Debt Profile as of September 30, 2026
Debt Profile as of September 30, 2026 (1) The Company drew down the remaining $50.0 million available under the Term Loan during the quarter ended September 30, 2026. No amount remains available for drawdown as of September 30, 2026. (2) The Company has $305.0 million available for borrowing under t
Slide 32: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF OPERATING INCOME (LOSS) GAAP MEASURES TO NON-GAAPMEASURES: (Wnaudited, in thousande) Thrye Months Ended ‘ing Months Ended ‘September 30. ‘September 30, ms 208 mis 2018 Revenues Subscriptions $ 65201 § 615,821 $1,900,750 $1,204,561 Other 23,0992 67AD 6 4B Total rev
Slide 33: ©2026 RingCentral
Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Income (loss) from operations reconciliation GAAP income from operations $ 53,886 $ 30,807 $ 154199 $ 78,110 Share-based compensation 66,313 65,960 182,775 211,223 Amortization of acquired intangibles 33,292 34,551
Slide 34: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF OPERATING INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES (Unaudited, in thousands) Year Ended December 31, 2025 2024 Income (loss) from operations reconciliation GAAP income from operations $ 120,551 ay 2,670 Share-based compensation 275,637 346,648 Amortization
Slide 35: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF NET INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended ‘September 30, ‘September 30, 2026 2025 2026 2025 Net income (loss) reconciliation GAAP net income $ 569,700 $ 17,559 $ 639,
Slide 36: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF NET INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES (Gn thousands, except per share data) (Unaudited) Net income (loss) income reconciliation GAAP net (loss) income Share-based compensation Amortization of acquired intangibles Asset write-down charges Third-party
Slide 37: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES (Unaudited, in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Net cash provided by operating activities $ 179,889 $ 151,362 $ 55
Slide 38: ©2026 RingCentral
RINGCENTRAL, INC. RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES (Unaudited, in thousands) Year Ended December 31, 2025 2024 Net cash provided by operating activities $ 617,427 $ 483,276 Capitalized expenditures (87,214) (80,528) Non-GAAP fre
Slide 39: ©2026 RingCentral
39 RINGCENTRAL, INC. RECONCILIATION OF FORECASTED OPERATING MARGIN AND FREE CASH FLOW GAAP MEASURES TO NON-GAAP MEASURES (Unaudited, in millions) GAAP income from operations $ 90 $ 100 $ 244 $ 254 GAAP operating margin 13.3% 14.7% 9.2% 9.6% Share-based compensation 62 57 245 240 Amortization of acqu