real-time news and commentary for investors
Monday, Aug 26
RingCentral files for $100M IPO under the symbol RNG
- The provider of cloud-based VoIP/conferencing services posted 1H revenue of $73.2M (+41% Y/Y), and a net loss of $23.9M. Its gross margin was 61.2%. 2012 revenue was $114.5M, and net loss $35.4M. (S-1)
- RingCentral has been spending aggressively: opex +38% Y/Y in 1H to $67.4M. Sales/marketing spend ($33.5M) accounted for nearly half of that total.
- The company's listed competitors include hardware vendors such as Cisco, Alcatel-Lucent, Avaya, and ShoreTel, software vendors such as Microsoft and BroadSoft, telcos such as AT&T (also a reseller) and Verizon, and fellow cloud-based telecom service providers such as 8x8 and J2 Global.
- Previous: RingCentral close to filing for IPO