RingCentral announces Q3 2018 results

RingCentral, Inc. (NYSE: RNG), a provider of global enterprise cloud communications and collaboration solutions, has announced financial results for the third quarter ended September 30, 2018, the company said.

Software subscriptions revenue increased 32% year over year to USD 158 million. Total revenue increased 33% year over year to USD 174 million. RingCentral Office® ARR increased 36% year over year to USD 592 million. Annualized Exit Monthly Recurring Subscriptions (ARR) increased 31% year over year to USD 674 million.

Mid-market and Enterprise ARR increased 75% year over year to USD 270 million. Enterprise ARR increased over 100% year over year to USD 146 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. RingCentral unifies voice, video, team messaging and collaboration, conferencing, online meetings, and integrated contact center solutions. RingCentral´s open platform integrates with business apps and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.