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RingCentral ● RingCentral Announces Second Quarter 2021 Results Ring Central Office® ARR up 41 % to $ 1.4 billion Belmont , Calif . - August 3 , 2021 - RingCentral , Inc. ( NYSE : RNG ) , a leading provider of global enterprise cloud communications , video meetings , collaboration , and contact center solutions , today announced financial results for the second quarter ended June 30 , 2021 . Second Quarter Financial Highlights ● Exhibit 99.1 Total revenue increased 36 % year over year to $ 379 million . Subscriptions revenue increased 37 % year over year to $ 351 million . Total Annualized Exit Monthly Recurring Subscriptions ( ARR ) increased 37 % year over year to $ 1.5 billion . RingCentral Office® ARR ( UCaaS + CCaaS ) increased 41 % year over year to $ 1.4 billion . " Second quarter results were outstanding , as contributions from our upmarket momentum and key partners including Avaya , Atos , AT & T , BT , and Telus continued to increase , " said Vlad Shmunis , RingCentral's founder , chairman and CEO . " As businesses embrace hybrid workforces , they require next generation mobile - first platforms that support team messaging , video meetings , and phone system capabilities . RingCentral , with its unparalleled track record of trust , innovation , and partnerships , and its differentiated MVP platform , now seamlessly integrated with an industry leading cloud contact center solution , is uniquely positioned to meet these communication and collaboration needs . " Financial Results for the Second Quarter 2021 Revenue : Total revenue was $ 379 million for the second quarter of 2021 , up from $ 278 million in the second quarter of 2020 , representing 36 % growth . Subscriptions revenue of $ 351 million increased 37 % year over year and accounted for 93 % of total revenue . Operating Income ( Loss ) : GAAP operating loss was ( $ 73 ) million , compared to an operating loss of ( $ 29 ) million in the same period last year , primarily driven by higher share - based compensation and amortization of acquisition intangibles . Non - GAAP operating income was $ 39 million , compared to a non - GAAP operating income of $ 29 million in the same period last year . Net Income ( Loss ) Per Share : GAAP net loss per share was ( $ 1.22 ) , compared to net profit per diluted share of $ 0.01 in the same period last year . The loss was primarily driven by higher share - based compensation and mark - to - market losses associated with investments . Non - GAAP net income per diluted share was $ 0.32 , compared to $ 0.24 per diluted share in the same period last year . The second quarters of 2021 and 2020 reflected a 22.5 % non - GAAP tax rate . There were no material cash taxes given our net operating loss carryforwards . Cash and Cash Equivalents : Total cash and cash equivalents at the end of the second quarter of 2021 was $ 325 million . This compares to $ 463 million at the end of the first quarter of 2021. Our cash balance reflects $ 160 million cash paid for redemption of our 2023 convertible senior notes . With this payment , we have fully redeemed the 2023 convertible senior notes . Additional Highlights Partnerships Announced a strategic partnership with Verizon Business , and launched RingCentral with Verizon , a seamlessly integrated unified communications as a service solution for enterprise businesses . This partnership integrates Verizon's leading connectivity solutions and Verizon 5G's speed , reliability , low latency , and high bandwidth with RingCentral's leading Message Video PhoneTM UCaaS solution .