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Sramana Mitra's Sramana Mitra On Strategy

Entrepreneur and Strategy Consultant Sramana Mitra's
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What More Can RingCentral Add to its Platform? | Sramana Mitra

Updated 4 Years Ago

What More Can RingCentral Add To Its Platform? | Sramana Mitra
A recently published Gartner Magic Quadrant report estimates that within the next three years, 90% of IT leaders will no longer purchase premises-based unified communications infrastructure, compared with nearly 50% in 2018. In the next three years, cloud-based communications offerings are expected to dominate the market due to their functionality, features, analytics, and dashboarding capabilities. The report puts RingCentral (NYSE:RNG) as the leader of this phenomenon. RingCentral's Financials Last month, RingCentral reported its fourth quarter results that surpassed all market expectations. Revenues for the quarter grew 34% over the year to $188.6 million, ahead of the market's forecast of $180.9 million. It ended the quarter with an adjusted net loss of $0.23 per share, also ahead of the Street's forecast of $0.18 for the quarter. By segment, software subscription revenues grew 32% over the year to $172 million and revenues from other sources came in at $16.6 million. For the year
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