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RingCentral Exhibit 99.1 RingCentral Announces Third Quarter 2021 Results RingCentral Total ARR of $ 1.6 billion , up 39 % Mid - Market and Enterprise ARR achieves approximately $ 1 billion , up 53 % Belmont , Calif . – November 9 , 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 third quarter ended September 30 , 2021 . Third Quarter Financial Highlights Total revenue increased 37 % year over year to $ 415 million . • • • Subscriptions revenue increased 38 % year over year to $ 385 million . Total Annualized Exit Monthly Recurring Subscriptions ( ARR ) increased 39 % year over year to $ 1.64 billion . RingCentral Office® ARR ( UCaaS + CCaaS ) increased 42 % year over year to $ 1.55 billion . Mid - market and Enterprise ARR increased 53 % year over year to $ 971 million . " Third quarter results were outstanding , with accelerating growth driven by ramping contributions from our key partners and momentum from our upmarket customers , " said Vlad Shmunis , RingCentral's founder , chairman and CEO . " Our success is rooted in our commitment to cultivating trust with our customers , our relentless pace of innovation , and our differentiated partner network with industry leaders . With our award - winning RingCentral Message Video Phone ( or MVP ) platform , our seamless integration with an industry - leading cloud contact center solution , and our unparalleled market access with strategic partners , we believe we are uniquely positioned to meet the rising global demand for cloud - based communications solutions . " Financial Results for the Third Quarter 2021 • • Revenue : Total revenue was $ 415 million for the third quarter of 2021 , up from $ 304 million in the third quarter of 2020 , representing 37 % growth . Subscriptions revenue of $ 385 million increased 38 % year over year and accounted for 93 % of total revenue . Operating Income ( Loss ) : GAAP operating loss was ( $ 83 ) million , compared to ( $ 30 ) million in the same period last year , primarily driven by higher share - based compensation . Non - GAAP operating income was $ 44 million , compared to a non - GAAP operating income of $ 31 million in the same period last year . Net Income ( Loss ) Per Share : GAAP net loss per share was ( $ 1.60 ) , compared to ( $ 0.24 ) in the same period last year , primarily driven by higher share - based compensation and mark - to - market losses associated with investments . Non - GAAP net income per diluted share was $ 0.36 , compared to $ 0.26 per diluted share in the same period last year . The third 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 third quarter of 2021 was $ 345 million . This compares to $ 325 million at the end of the second quarter of 2021 . Financial Outlook Full Year 2021 Guidance : • • • Raising total revenue range to $ 1.580 to $ 1.581 billion , representing annual growth of 33 % to 34 % . This is up from our prior range of $ 1.539 to $ 1.545 billion and annual growth of 30 % to 31 % . Raising subscriptions revenue range to $ 1.466 to $ 1.467 billion , representing annual growth of 35 % . This is up from our prior range of $ 1.424 to $ 1.430 billion and annual growth of 31 % to 32 % . Raising GAAP operating margin range to ( 18.7 % ) to ( 18.5 % ) . This is up from our prior range of ( 19.2 % ) to ( 18.3 % ) .