Slides
Page 1
Voice of Y our Business 1 ©2026 RingCentral
Page 2
2 ©2026 RingCentral This presentation includes forward-looking statements within the meaning of the federal securities laws. These statements relate to, among other things, our business strategy and goals, growth of the market for our services, our future financial and operating results, including our GAAP and non-GAAP guidance, the assumptions underlying our guidance, plans to reduce expenses and share-based compensation, leverage targets, our plans to invest in innovation, and expected contributions and benefits from new products. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors including those that are described in greater detail in our most recent Form 10-K or Form 10-Q filed with the Securities and Exchange Commission, and in our other filings with the Securities and Exchange Commission from time to time. All future written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the previous statements. We undertake no obligation to update any forward-looking statements that may be made to reflect events or circumstances that occur, or that we become aware of, after the date of this presentation. In this presentation, we provide certain historical non-GAAP financial measures, which are reconciled to their directly comparable GAAP financial measures. These reconciliations are presented in the Appendix at the end of this presentation. We also provide other measures such as annualized exit monthly recurring subscriptions (ARR) and AI ARR. We provide guidance on forecasted non-GAAP operating margin, non-GAAP tax rates, non-GAAP EPS, and free cash flow and free cash flow margin. Reconciliations of our forecasted non-GAAP operating margin and free cash flow to the most directly comparable GAAP financial measure is presented in the Reconciliation slides at the end of this presentation. We have not reconciled our forecasted non-GAAP EPS to its respective forecasted GAAP measure because we do not provide guidance on it. We do not provide guidance on forecasted GAAP EPS because of the inherent uncertainty and complexity involved in forecasting the intercompany remeasurement gain (loss), gain (loss) associated with investments, gain (loss) on early debt extinguishment, and provision (benefit) from income taxes, which could be significant reconciling items between the non-GAAP and respective GAAP measures. The intercompany remeasurement gain (loss) is affected by the movement in various exchange rates relative to the U.S. Dollar, which is difficult to predict and subject to constant change. We do not provide guidance on gain (loss) associated with investments as it is based on future share prices, which are difficult to predict and subject to inherent uncertainties. We do not provide guidance on gain (loss) on debt early extinguishment as it is based on future interest rates, which are difficult to predict and are subject to inherent uncertainties. We do not provide guidance on forecasted GAAP tax rates as we do not forecast discrete tax items as they are difficult to predict. We utilized a projected long-term tax rate in our computation of the non-GAAP income tax provision. For fiscal 2026, we have determined the projected non-GAAP tax rate to be 22.5%. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. Safe Harbor and Non-GAAP Measures
Page 3
3 ©2026 RingCentral Up 110 bps Y/Y $676M Total Revenue 5.9% Y/Y 24.7% Non-GAAP Operating Margin Up 190 bps Y/Y $1.33 Non-GAAP EPS Up 18% $6.50 GAAP EPS(1) $653M Subscription Revenue 6.0% Y/Y 8.0% GAAP Operating Margin Up 320 bps Y/Y $157M Free Cash Flow Up 21% Y/Y 1.3x Q3ʼ26 Net Debt to LTM Adj. EBITDA Lower leverage $1.79 Free Cash Flow per share Up 27% Y/Y Q3 Financial Highlights Unless otherwise noted, company metrics as of Q3ʼ26. 1. When you exclude the approximately $545 million net tax benefit from a release of the company's valuation allowance, adjusted diluted EPS was $0.28, up 47% year over year
Page 4
4 ©2026 RingCentral Leader in Agentic Voice AI Quarterly record #1 In UCaaS w/Cloud PBX Seats Market Share (1) $625M ‘26 estimated FCF(4) $7 .14 ‘26 estimated FCF/share(4) $5.10 ‘26 estimated non-GAAP EPS(4) 99% Monthly net retention rate 600K Customer accounts AI 15% ARR RCAI (RingCentral AI-utilizing customers) (2) $2.8B ARR up 6% YoY $250M+ Committed to R&D Innovation (3) Unless otherwise noted, company metrics as of Q3ʼ26. 1. Source: Synergy Research Group, UC Market Tracker, Q2 2026. 2. % of total ARR with at least one paid AI product = RCAI (RingCentral AI-utilizing customers) 3. Reflects non-GAAP research and development spend for twelve months ending Sep 30, 2026. 4. Reflects the midpoint of guidance on October 22, 2026
Page 5
5 ©2026 RingCentral Voice Data + Telephony Infrastructure Deep Defensible Moat & Expanding TAM Complete Customer Engagement Platform Front Door to B2C Interactions 1 2 3 4 WhyRingCentral Strong Financial Performance 5
Page 6
Global | Reliable | Secure | Compliant | Scalable | Multi-Modal | Open Customer Engagement Platform ACE AI Conversation Expert AIR AI Receptionist AVA AI Virtual Assistant RingWEM Workforce Engagement *RingCX Contact Center **RingCollab Video, Events, Chat RingEX Business Phone 40B min/yr 13B calls/yr 4B SMS/yr CE Bundle CX Lite 6 6 ©2026 RingCentral
Page 7
7 ©2026 RingCentral Complete Customer Engagement Platform Customer Engagement Bundle Advanced Call Queues, SMS inbox, Analytics Open Platform - MCPs, APIs, & Integrations AIR & AIR PRO A V A ACE RingCentral AI Serving Simplified Needs Serving Complex Needs Unified Communications (UC) Contact Center (CC) RingCX / RC Contact Center Omnichannel, Agent Routing, Advanced Call Management, Analytics, WEM RingEX Business Phone, SMS, Meetings, Messaging, Fax, Call Queues, Analytics EX CX Integrated UC + CE
Page 8
8 ©2026 RingCentral Carrier-grade Infrastructure ● Highly reliable and secure ● Serves as bedrock for AI ● 25+ years of innovation Conversational Data ● 40 billion minutes ● 13 billion calls ● 4 billion SMS messages Go-To-Market Reach ● Direct sales ● 16,000 channel partners ● 17 global service providers Deep Defensible Moat Three Structural Advantages
Page 9
9 ©2026 RingCentral Voice as a Structural Advantage Five reasons why voice is difficult to replicate 1 911 & Emergency 2 Global Regulation 3 Taxes & Fees 4 Security & Fraud 5 Carrier Interconnect Each layer requires deep regulatory, security, & carrier expertise; a moat pure software platforms don't have. Meet stringent emergency regulations Deliver precise, reliable emergency routing Detect AI-driven voice fraud Verify trusted caller identity Manage fragmented telecom tax rules globally Prevent costly compliance penalties Comply with country-specific regulations Meet evolving security requirements Build trusted carrier interconnections Ensure cross-network interoperability
Page 10
10 ©2026 RingCentral Strength in Voice & SMS RingCentral Telephony Minutes 7% y/y* *Minutes and SMS Y/Y is based on projected 2026 based on Q1 through Q3 2026 actual minutes/SMS vs. full-year 2025 FY23 FY24 FY25 RingCentral SMS 3Q26 Annualized 17% y/y* FY23 FY24 FY25 3Q26 Annualized 3.7B+ 40B+
Page 11
11 ©2026 RingCentral $25B $80B $40B $0B 0% 30% 60% UCaaS CCaaS $27B Revenue Intelligence $33B 2028 Market Opportunity 2025 - 2030 CAGR* The Market Opportunity is Large at $200B+ 1Gartner, Forecast: Unified Communications, Worldwide, 2024-2030, 2Q26, 30 June 2026 2Gartner, Forecast Analysis: Contact Center & GenAI Customer Support, Worldwide, 10 March, 2026 IDC, Worldwide Contact Center Applications Software Forecast, 2026-2030: Steady Growth in a Maturing Market, June 2026 3Gartner, Forecast Analysis: Communications Platform as a Service, Worldwide, June, 2025 4IDC, Market Forecast: Worldwide Sales Force Productivity and Performance Software Forecast, 2026–2030 Gartner, Magic Quadrant for Enterprise AI Assistants, Sept. 2, 2026 $27B CPaaS $71B $39B AI for Customer Experience Enterprise AI Assistants
Page 12
12 ©2026 RingCentral Employees CUSTOMERS AIR AI Receptionist Answer & route calls 24/7 Capture leads Schedule appointments ACE AI Conversation Expert Insights & coaching Customer sentiment Agent scoring Front Door to B2C Interactions Transforming Conversations with Agentic Voice AI Automate Analyze AVA AI Virtual Agent Notes & summaries Look up Information Guided assistance Assist RingCentral applies AI that automates, assists, and analyzes at every phase of the conversation journey.
Page 13
13 ©2026 RingCentral ©2026 RingCentral RCAI CUSTOMER TRENDS: RCAI-utilizing customers more than doubled year over year 2X 7X Customers using two or more AI products growing more than sevenfold over past year 100+ These customers have higher ARPU and 100+ net retention ACE “The AI Flywheel” Assist interactions Analyze interactions ✦ Automate outcomes AIR PRO ✦AIR AIR PRO ✦ ✦ AVA ~15% of ARR 100%+ NRR AI Adoption Growth in Q3 ‘26 AI Momentum Customers adopting RCAI have meaningfully higher ARPU than the rest of our base Higher ARPU ARR from customers utilizing paid AI products (RCAI) is over $400M, approaching 15% of total ARR and doubling y/y These customers have 100%+ net retention
Page 14
14 ©2026 RingCentral AI Conversation Expert (ACE) AI conversational insights (formerly RingSense) AI Receptionist (AIR) AI voice agent that automatically answers customers inquiries and transfers calls RingCX AI-first contact center Customer Engagement Bundle (CEB) Better customer engagement, unified calls and texts for faster, smoother, and more human experiences. New Product Customer Growth 280%+ YoY Growth 60% YoY Growth 45%+ QoQ Growth 3Q25 3Q26 40%+ YoY Growth 3Q25 3Q263Q25 3Q26 2Q26 3Q26 22,200+ Customers 6,900+ Customers 1300+ Customers 1,900+ Customers 9,600+ Customers 14,300+ Customers 4,300+ Customers 5,800+ Customers
Page 15
15 ©2026 RingCentral Unique Go-To-Market GSP Partners Entering New Zealand MarketExpanding AI offering in the UK Entering Italian Market New / Expanded Partnership GSP AI
Page 16
16 ©2026 RingCentral NPI Core FY24 FY25 Innovation (R&D) spend split Rapid AI-first Product Innovation $250m+ in R&D Majority of R&D is towards new product innovation We are spending a majority of our R&D on NPI NPI = new product initiatives FY26 16 ©2026 RingCentral
Page 17
17 ©2026 RingCentral 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 CCaaS Universe Innovator, Frost & Sullivan, 2026 CPaaS Radar Leader, IDC, 2026 Conversational Intelligence
Page 18
18 ©2026 RingCentral Customer Win Highlights Tech & procurement senior living provider ● Uses RingEX, RingCX, ACE ● Adding AIR Pro for multi-step workflows to improve customer experience ● Over 95% accuracy in workflow completion in first month AIR Pro National fitness operator ● Uses ACE to identify key call drivers ● AIR to handle high volume of recurring inquiries ● Staff freed up to focus more on member relationships ● Expanding investment in RNG by 4X RCAI Destination Pet ● Nationwide pet care provider ● Uses ACE to identify where service could improve ● Adding AIR Pro to automate scheduling, confirmations, and record updates ● Capturing opportunities, growing revenue, and lowering labor costs AIR Pro Industrial parts manufacturer & supplier ● Replacing fragmented call queues with AI CEB ● Customers wait less, resolve faster, higher satisfaction ● Using ACE for rep scorecard grading and coaching ● Using AIR for handling inquiries with context-aware routing AI CEB
Page 19
19 ©2026 RingCentral 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. MCP connectors for Claude Plugins for ChatGPT since launch <30 daysThousands of active customers
Page 20
Official Agentic AI Powered Voice Platform for Fan Engagement of Golden State Warriors 20 ©2026 RingCentral
Page 21
21 ©2026 RingCentral Financials
Page 22
22 ©2026 RingCentral FCF/share $ Subscription Revenue $M Non-GAAP EPS $ Durable Growth, Improving Margins, Increasing FCF/share 1. 2026E represents guidance range for total revenue, operating profit and free cash flow as of Oct 22, 2026. 2. Non-GAAP operating profit, non-GAAP operating margin and free cash flow are non-GAAP financial measures, see appendix for reconciliation to the most comparable GAAP metrics. Total Revenue $M 1,988 2,202 2,400 2,515 FYʼ22 FYʼ23 FYʼ24 FYʼ25 2,650 -2,657 FYʼ26E Free Cash Flow $M and % of total rev 105 324 403 530 5.3% 14.7% 16.8% 21.1% 620 -630 FYʼ22 FYʼ23 FYʼ24 FYʼ25 FYʼ26E Operating Profit $M and % of total rev 246 420 504 566 FYʼ22 FYʼ23 FYʼ24 FYʼ25 12.4% 19.1% 21.0% 22.5% 637 - 642 FYʼ26E 24.0-24.2% $1.10 $3.35 $4.26 $5.81 $7 .09 -7 .20 FYʼ22 FYʼ23 FYʼ24 FYʼ25 FYʼ26E $1.99 $3.23 $3.70 $4.36 $5.07 -5.12 FYʼ22 FYʼ23 FYʼ24 FYʼ25 FYʼ26E 1,888 2,100 2,297 2,427 FYʼ22 FYʼ23 FYʼ24 FYʼ25 FYʼ26E 2,563 -2,569 23.4-23.7%
Page 23
23 ©2026 RingCentral GAAP Operating Profit % of revenue 2023 2024 20252022 2026E GAAP EPS $ (9.23) (1.74) 0.48 (0.63) Improving GAAP Financial Performance Stock-Based Compensation % of revenue 1. 2026E represents guidance range for stock-based compensation SBC) as % of total revenue, fully diluted share count and non-GAAP EPS, as of Oct 22, 2026. In-year grants Prior year grants 2023 2024 20252022 2026E 12% 8% 20% 11% 9% 20% 10% 4% 14% 7% 4% 11% 6% 3% 9% Target: Reduce SBC to 3-4% of revenue in 3-4 years (32.7%) (9.0%) 0.1% 4.8% 9.2% – 9.6% Target: Improve GAAP Operating Margin 20% in 2-3 years 2nd Consecutive Y ear of GAAP Profitability expected in 2026 2023 20242022 2025
Page 24
24 ©2026 RingCentral Strong Balance Sheet and Shareholder Returns Diluted Share Count M 96.2 2022A 96.6 2023A 94.5 2024A 91.2 2025A 87 .5 2026E Leverage Ratio 4.3x 2022A 2.7X 2023A 2.2x 2024A 1.7x 2025A 2026E Dividends per share $ $0.075 Q1'26 $0.075 Q2'26 $0.125 Q3'26 $0.125 Q4'26 Gross Debt $M 1,650 2022A 1,560 2023A 1,540 2024A 1,261 2025A <1,000 2026E Approaching investment grade Reached target of less than $1B in gross debt
Page 25
25 ©2026 RingCentral $403$403 Expanding FCF & Reducing Share Grants FCF vs. Shares Granted1 $M FCF ($M) Shares Granted ($M) 1. 2026E represents guidance for FCF ($), estimate of Shares Granted ($) based on estimated approved grants (the actual grant date fair value may differ).
Page 26
26 ©2026 RingCentral $403$403 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 25.5% Non-GAAP EPS $1.32 to $1.37 Fully Diluted Share Count 88.7 mil. Q4 2026 Guidance (1) See appendix for GAAP to non-GAAP reconciliation
Page 27
27 ©2026 RingCentral $403$403 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 cash provided by operating activities $725 to $730 mil. Less: Capitalized expenditures $105 to $100 mil. Free Cash Flow $620 to $630 mil. (1) See appendix for GAAP to non-GAAP reconciliation
Page 28
28 ©2026 RingCentral Appendix
Page 29
29 ©2026 RingCentral We define our annualized exit monthly recurring subscriptions as our monthly recurring subscriptions multiplied by 12. Our monthly recurring subscriptions equal the monthly value of all customer recurring charges contracted at the end of a given month. $ Metric Y/Y Growth Revenue Subscriptions Revenue $653M 6% Total Revenue $676M 6% ARR Total $2,798M 6% Q3 2026 Financial Highlights
Page 30
30 ©2026 RingCentral Net debt to adjusted EBITDA ($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 .8 503.1 533.6 554.4 575.7 590.4 602.7 618.4 637 .2 653.1 667 .7 683.2 705.7 Total Debt 1,638.4 1,639.5 1,578.8 1,801.3 1,545.5 1,541.4 1,537 .3 1,533.2 1,529.1 1,363.7 1,260.8 1,256.9 1,253.8 1,205.6 1,120.6 1,010.6 Total Cash 270.0 274.8 225.4 432.4 222.2 203.1 199.3 212.7 242.8 154.4 168.1 145.4 132.6 116.6 111.5 110.1 Net Debt 1,368.4 1,364.7 1,353.4 1,368.9 1,323.3 1,338.3 1,338.0 1,320.5 1,286.3 1,209.3 1,092.7 1,111.5 1,128.6 1,089.1 1,009.1 900.5 Net Debt to Adj. EBITDA 4.3x 3.7x 3.2x 3.0x 2.6x 2.5x 2.4x 2.3x 2.2x 2.0x 1.8x 1.7x 1.7x 1.6x 1.5x 1.3x Adjusted EBITDA is a non-GAAP financial measure, see appendix for reconciliation to the most comparable GAAP metric.
Page 31
31 ©2026 RingCentral 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 the Revolving Credit Facility as of September 30, 2026. (3) The Company settled the remaining $609.1 million principal of the 2026 Convertible Notes in cash on the original maturity date in March 2026. (4) As of September 30, 2026, the current portion of long-term debt, net, consists of the $48.9 million in expected principal payments due on the Term Loan. The Term Loan requires quarterly principal payments of approximately 1.27% of the refinanced $960.0 million principal amount drawn, with balance due at maturity.
Page 32
32 ©2026 RingCentral
Page 33
33 ©2026 RingCentral
Page 34
34 ©2026 RingCentral
Page 35
35 ©2026 RingCentral
Page 36
36 ©2026 RingCentral
Page 37
37 ©2026 RingCentral
Page 38
38 ©2026 RingCentral
Page 39
39 ©2026 RingCentral