RingCentral announces Q1 2018 results

RingCentral, Inc. (NYSE: RNG), a provider of global enterprise cloud communications and collaboration solutions, has announced financial results for the first quarter ended March 31, 2018, the company said.

First quarter financial highlights include:

Total revenue increased 34% year over year to USD 150 million.

Software subscriptions revenue increased 32% year over year to USD 137 million.

Annualized Exit Monthly Recurring Subscriptions (ARR) increased 31% year over year to USD 589 million.

RingCentral Office® ARR increased 37% year over year to USD 509 million.

RingCentral is a provider of global enterprise cloud communications and collaboration solutions. More flexible and cost-effective than legacy on-premises systems, RingCentral empowers today´s mobile and distributed workforce to communicate, collaborate, and connect from anywhere, on any device.