Ringcentral (RNG) financial statements
Ringcentral reported revenue of $2.5B in fiscal 2025, up 23.4% a year over 9 years.
Net income was $43M and the operating margin 4.8%, against -3.4% in 2016.
Free cash flow was $525M, and the company returned $334M in net buybacks.
The diluted share count rose 25% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ringcentral's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $380M | $504M | $674M | $903M | $1.2B | $1.6B | $2.0B | $2.2B | $2.4B | $2.5B |
| Cost of revenue | $92M | $121M | $157M | $231M | $324M | $448M | $642M | $664M | $706M | $723M |
| Gross profit | $288M | $382M | $516M | $672M | $860M | $1.1B | $1.3B | $1.5B | $1.7B | $1.8B |
| Research and development | $66M | $75M | $101M | $136M | $189M | $310M | $362M | $336M | $329M | $317M |
| Selling, general and admin | $236M | $313M | $432M | $581M | $784M | $1.1B | $1.4B | $1.4B | $1.4B | $1.4B |
| Operating income | -$13M | -$5M | -$16M | -$46M | -$113M | -$302M | -$649M | -$199M | $3M | $121M |
| Interest expense | $746,000 | $99,000 | $16M | $21M | $49M | $64M | $5M | $36M | $65M | $60M |
| Pre-tax income | -$16M | -$4M | -$26M | -$57M | -$82M | -$374M | -$874M | -$157M | -$47M | $56M |
| Income tax | $236,000 | $258,000 | $140,000 | -$3M | $934,000 | $3M | $5M | $8M | $11M | $13M |
| Net income | -$16M | -$4M | -$26M | -$54M | -$83M | -$376M | -$879M | -$165M | -$58M | $43M |
| EPS (diluted) | -$0.22 | -$0.06 | -$0.33 | -$0.64 | -$0.94 | -$4.10 | -$9.23 | -$1.74 | -$0.63 | $0.48 |
| Diluted shares | 73M | 76M | 80M | 83M | 89M | 92M | 95M | 95M | 92M | 91M |
| Gross margin | 75.8% | 75.9% | 76.7% | 74.4% | 72.7% | 71.9% | 67.7% | 69.8% | 70.6% | 71.2% |
| Operating margin | -3.4% | -1.1% | -2.4% | -5.1% | -9.6% | -18.9% | -32.7% | -9.0% | 0.1% | 4.8% |
| Net margin | -4.3% | -0.8% | -3.9% | -5.9% | -7.0% | -23.6% | -44.2% | -7.5% | -2.4% | 1.7% |
Balance sheet
Fiscal years, from Ringcentral's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $160M | $181M | $566M | $344M | $640M | $267M | $270M | $222M | $243M | $133M |
| Receivables | $30M | $47M | $94M | $130M | $176M | $233M | $311M | $364M | $386M | $384M |
| Inventory | $63,000 | $198,000 | $199,000 | $401,000 | $551,000 | $6M | $1M | $1M | $1M | $929,000 |
| Total current assets | $206M | $265M | $708M | $536M | $926M | $651M | $796M | $849M | $871M | $765M |
| Property, plant and equipment | $32M | $43M | $70M | $89M | $142M | $167M | $185M | $184M | $181M | $187M |
| Goodwill | $9M | $9M | $31M | $55M | $57M | $55M | $54M | $67M | $83M | $98M |
| Total assets | $253M | $360M | $894M | $1.5B | $2.2B | $2.6B | $2.1B | $1.9B | $1.8B | $1.5B |
| Total current liabilities | $116M | $125M | $199M | $281M | $438M | $526M | $653M | $633M | $749M | $1.2B |
| Long-term debt | $312,000 | — | — | — | — | — | $1.6B | $1.5B | $1.3B | $630M |
| Total liabilities | $123M | $131M | $577M | $705M | $1.9B | $2.0B | $2.4B | $2.2B | $2.1B | $1.9B |
| Shareholders' equity | $164M | $228M | $318M | $746M | $308M | $339M | -$483M | -$503M | -$551M | -$588M |
| Net debt | -$146M | -$181M | -$566M | -$344M | -$640M | -$267M | $1.4B | $1.3B | $1.3B | $1.1B |
Cash flow
Fiscal years, from Ringcentral's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $30M | $41M | $72M | $65M | -$35M | $152M | $191M | $400M | $483M | $617M |
| Capital spending | $17M | $28M | $39M | $46M | $86M | $79M | $92M | $80M | $84M | $93M |
| Free cash flow | $13M | $13M | $33M | $19M | -$121M | $73M | $99M | $320M | $399M | $525M |
| Stock-based compensation | $31M | $42M | $68M | $101M | $190M | $358M | $386M | $427M | $339M | $270M |
| Share buybacks (net) | — | $0 | -$15M | $0 | $0 | $0 | -$100M | -$311M | -$322M | -$334M |
| Net borrowing | -$4M | -$15M | $0 | $0 | — | $0 | $0 | -$10M | -$20M | -$633,000 |
| Free cash flow margin | 3.4% | 2.7% | 4.9% | 2.1% | -10.2% | 4.6% | 5.0% | 14.5% | 16.6% | 20.9% |
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Open RNG in InvestinglyQuestions
What was Ringcentral's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ringcentral generate?
$525M in fiscal 2025 (operating cash flow minus capital spending).
From Ringcentral's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.