RingCentral, Inc. provides cloud-based communications and collaboration solutions for businesses of all sizes, offering voice, video, team messaging, and contact center services.

# RingCentral, Inc. Company Summary

## Overview
RingCentral, Inc. is a provider of cloud-based communications and collaboration solutions primarily for businesses. The company enables organizations to improve their communication systems by offering integrated features such as voice, video, team messaging, and contact center services, all accessible through a unified platform.

## Business Operations
- **Product Offerings**:
  - Voice over Internet Protocol (VoIP) phone systems
  - Video conferencing and team messaging
  - Contact center solutions
  - Omnichannel business communications

- **Market Focus**:
  - Targeted towards small, medium, and large enterprises seeking scalable, cloud-based communication infrastructure.

## Corporate Financials (2024)
- **Number of Customers**: Not explicitly specified in the provided document.
- **Employees**:
  - Total employees: Approximately 4,255 (as of December 31, 2024)
  - Locations: Employees are both within and outside the United States, with roughly 48% based in the U.S. and 52% outside.
- **Revenue**:
  - Specific revenue amounts for 2024 are not directly provided in the excerpt. However, peer companies and operational metrics are discussed in the context of performance targets.
- **Income**:
  - The document does not specify net income or operating income figures for 2024.

## Leadership and Governance
- **CEO and Chairman**:
  - Vladimir Shmunis, a co-founder with extensive industry experience, has served as CEO since inception (1999) and also as Chairman, with a brief period as Executive Chairman in 2023.
- **Board Composition**:
  - Six members, with five independent directors.
  - Notable directors include Prat Bhatt, Mignon Clyburn, Kenneth Goldman, Amy Guggenheim Shenkan, and Robert Theis.
- **Executives**:
  - Other key officers include Abhey Lamba (CFO), John Marlow (Chief Administrative Officer and General Counsel), Kira Makagon (President and COO), and Vaibhav Agarwal (Chief Transformation Officer and Deputy CFO).

## Stock and Market
- **Stock Ticker**: RNG
- **Exchange**: New York Stock Exchange (NYSE)
- **Market Capitalization**:
  - Approximately $2.4 billion as of June 28, 2024, based on a closing stock price of $28.20.
- **Shares Outstanding**:
  - As of February 18, 2025: 80,917,329 Class A shares and 9,804,538 Class B shares.

## Summary
RingCentral offers comprehensive cloud communications platforms designed to replace traditional telephony, video conferencing, and team collaboration tools. With a sizable employee base and a broad customer portfolio, the company focuses on providing scalable, integrated solutions that support modern enterprise communication needs, culminating in a significant market presence and a market value of around $2.4 billion.

rng-20231231



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________________________________________________________
FORM 10-K/A
AMENDMENT NO. 1
______________________________________________________________________
(Mark One)

☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2023
OR

☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For transition period from                     to
Commission File Number: 001-36089
______________________________________________________________________
RingCentral, Inc.
(Exact name of Registrant as specified in its charter)
______________________________________________________________________

Delaware | 94-3322844 
(State or other jurisdictionof incorporation or organization) | (I.R.S. EmployerIdentification No.)

20 Davis Drive
Belmont, California 94002
(Address of principal executive offices)
(650) 472-4100
(Registrant’s telephone number, including area code)
______________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:

Title of each class | Trading Symbol(s) | Name of each exchange on which registered
Class A Common Stock | RNG | New York Stock Exchange 
par value $0.0001 | | 

Securities registered pursuant to section 12(g) of the Act:
None
______________________________________________________________________
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes  ☒   No  ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨    No  ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  ☒   No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☒   No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer | ☒ | Accelerated filer | ¨
Non-accelerated filer | ¨ | Smaller reporting company | ☐
 | | Emerging growth company | ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive‑based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D‑1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  ☐  No  ☒
The aggregate market value of voting stock held by non-affiliates of the Registrant on June 30, 2023, based on the closing price of $32.73 for shares of the Registrant’s common stock as reported by the New York Stock Exchange, was approximately $2.8 billion. Shares of common stock held by each executive officer, director, and their affiliated holders have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.
As of February 12, 2024, there were 82,393,035 shares of Class A Common Stock and 9,924,538 shares of Class B Common Stock outstanding.


EXPLANATORY NOTE
This Amendment No. 1 to the Annual Report on Form 10-K/A (this “Amendment No. 1”) of RingCentral, Inc. (the “Company”) amends the Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which the Company filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 22, 2024 (the “Original Form 10-K”). 
The Company is amending the disclosure included in Part II, Item 9A of the Original Form 10-K to include a clarifying statement of management’s conclusion that the Company maintained effective internal control over financial reporting as of December 31, 2023. The Company added the following statement, which was inadvertently omitted from the Original Form 10‑K:
“Based on the results of our evaluation, our management concluded that our internal control over financial reporting was effective as of December 31, 2023.”
Except as described above, this Amendment No. 1 does not modify or update disclosure in, or exhibits to, the Original Form 10‑K. Furthermore, this Amendment No. 1 does not change any previously reported financial results, nor does it reflect events occurring after the filing date of the Original Form 10-K. Information not affected by this Amendment No. 1 remains unchanged and reflects the disclosures made at the time the Original Form 10-K was filed.
Prior to the Original Form 10-K, the Company had conducted an assessment of the effectiveness of the Company’s internal control over financial reporting based upon the Internal Control – Integrated Framework (2013 framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) and concluded that the Company maintained effective internal control over financial reporting as of December 31, 2023. Furthermore, as described in the “Report of Independent Registered Public Accounting Firm” on pages 77 and 78 of the Original Form 10-K, KPMG LLP, the Company’s independent registered public accounting firm, had also concluded that the Company had “maintained, in all material respects, effective internal control over financial reporting as of December 31, 2023 based on criteria established in Internal Control – Integrated Framework (2013) issued by COSO.” In addition, the Company stated in the section titled “Risk Factors” on page 52 of the Original Form 10-K that “management concluded internal control over financial reporting was at a 
reasonable assurance level as of December 31, 2023.” Additionally, the Form 10-K certifications of the Company’s principal executive officer (Exhibit 31.1) and its principal financial officer (Exhibit 31.2) stated that they have “designed such internal control over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.”
As required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended, in connection with this Amendment No. 1, our Chief Executive Officer and Chief Financial Officer are providing Rule 13a-14(a) certifications as included herein. We are amending Item 15 of Part IV solely to reflect the inclusion of these certifications.
PART II.
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this Annual Report on Form 10-K.
In designing and evaluating our disclosure controls and procedures, management recognizes that any disclosure controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.
Based on management’s evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are designed to, and are effective to, provide assurance at a reasonable level that the information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosures.
Management’s Annual Report on Internal Controls Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2023 based on the guidelines established in the Internal Control—Integrated Framework (2013 framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Our internal control over financial reporting includes policies and procedures that provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external reporting purposes in accordance with U.S. generally accepted accounting principles.
Based on the results of our evaluation, our management concluded that our internal control over financial reporting was effective as of December 31, 2023. The effectiveness of our internal control over financial reporting as of December 31, 2023 has been audited by KPMG LLP, an independent registered public accounting firm, as stated in its report which is included in Item 8 in this Annual Report on Form 10-K.
Changes in Internal Control Over Financial Reporting
There are no changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the quarter ended December 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Inherent Limitations on Effectiveness of Controls
Our management, including our chief executive officer and chief financial officer, do not expect that our disclosure controls or our internal control over financial reporting will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls 
can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the controls. The design of any system of controls is also based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.
PART IV
Item 15. Exhibits and Financial Statement Schedules
The following documents are filed as part of this report:
Financial Statements
No financial statements are filed with this Amendment No. 1. The financial statements and notes thereto were included as part of the Original Form 10-K.
All schedules are omitted as the required information is either not present, not present in material amounts or presented within the consolidated financial statements or related notes.
EXHIBIT INDEX

Exhibit Number | Description 
31.3 | Certification of Periodic Report by Principal Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002.
31.4 | Certification of Periodic Report by Principal Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002.
104 | Cover Page Interactive Data File (formatted as inline XBRL) 

Item 16. Summary
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Belmont, State of California, on this 24th day of April 2024.

 | RINGCENTRAL, INC. 
Date: April 24, 2024 | /s/ Sonalee Parekh 
 | Sonalee Parekh 
 | Chief Financial Officer(Principal Financial Officer) 
Date: April 24, 2024 | /s/ Vaibhav Agarwal 
 | Vaibhav Agarwal 
 | Chief Accounting Officer(Principal Accounting Officer)



RingCentral, Inc. is a leading provider of cloud-based communications and collaboration solutions for businesses worldwide.

# RingCentral, Inc. Overview

## Company Description
RingCentral, Inc. is a leading provider of cloud-based communications and collaboration solutions for businesses worldwide. The company's primary offerings include:

- **Unified Communications as a Service (UCaaS)**: This service integrates various communication tools such as voice, video, messaging, and conferencing into a single platform, facilitating seamless collaboration among teams regardless of their location.
- **Contact Center Solutions**: RingCentral provides sophisticated contact center services that help businesses enhance customer experiences through efficient communication channels.
- **Team Messaging**: A collaborative space that allows team members to communicate and share information efficiently.

## Key Facts
- **Founded**: 1999
- **Headquarters**: Belmont, California
- **Number of Customers**: Over 400,000 businesses rely on RingCentral’s solutions to enhance their communication strategies.
- **Employees**: Approximately 4,335 employees work across various departments to support the growing demands of the business.
- **Revenue**: For the fiscal year ended December 31, 2023, RingCentral reported revenue of approximately $1.4 billion.
- **Net Income**: The company experienced a net income of around $121 million for the same fiscal year.

## Market Position
RingCentral is recognized for its innovation and leadership within the cloud communications industry. The company continues to expand its service offerings to meet the evolving needs of businesses in an increasingly digital landscape. 

## Conclusion
RingCentral, Inc. is committed to providing advanced communication solutions that empower businesses to operate efficiently and effectively, making it a trusted partner for organizations looking to modernize their communication infrastructure.

RingCentral, Inc.

10-K / April 30, 2025

10-K / April 24, 2024

10-K / April 30, 2025

RingCentral, Inc. Company Summary

Overview

Business Operations

Corporate Financials (2024)

Leadership and Governance

Stock and Market

Summary