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Income Statement (USD)
Q1 '24 | QoQ | |
---|---|---|
Revenue | 568M | 0.5% |
Gross Profit | 414M | 3.2% |
Cost of Revenue | 571M | 51.5% |
Operating expense | 425M | 4.8% |
Net Income | -28M | 39.7% |
EBITDA | 48M | 126.1% |
Balance Sheet (USD)
Q1 '24 | QoQ | |
---|---|---|
Total Assets | 1.87B | 3.7% |
Total Liabilities | 2.2B | 2.3% |
Shares Outstanding | 93M | 0.9% |
Cash Flow (USD)
Q1 '24 | QoQ | |
---|---|---|
Cash from operations | 96M | 15.6% |
Cash from investing | -19M | 2.9% |
Cash from financing | -95M | 69.1% |
EPS
Financial Highlights for RingCentral in Q1 '24
RingCentral reported a revenue of 568M, which is a 0.5% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 414M, marking a 3.2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 571M, a 51.5% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 425M, showing a -4.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -28M, showing a 39.7% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 48M, showing a 126.1% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for RingCentral with growth in revenue, gross profit, and net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures.