$RNG
RingCentral, Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017022943 Filed on November 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $129.8M $96.84M
YoY Change 34.0% 26.13%
Cost Of Revenue $30.78M $23.46M
YoY Change 31.25% 359.9%
Gross Profit $99.50M $73.38M
YoY Change 35.58% 34.78%
Gross Profit Margin 76.67% 75.78%
Selling, General & Admin $86.14M $63.96M
YoY Change 34.69% 36.66%
% of Gross Profit 86.58% 87.15%
Research & Development $19.08M $16.49M
YoY Change 15.72% 22.15%
% of Gross Profit 19.18% 22.47%
Depreciation & Amortization $4.000M $3.800M
YoY Change 5.26% 11.44%
% of Gross Profit 4.02% 5.18%
Operating Expenses $105.2M $80.45M
YoY Change 30.8% 33.41%
Operating Profit -$265.0K -$7.061M
YoY Change -96.25% 21.16%
Interest Expense $6.000K $176.0K
YoY Change -96.59% -188.0%
% of Operating Profit
Other Income/Expense, Net $607.0K -$872.0K
YoY Change -169.61% 190.67%
Pretax Income -$5.639M -$7.933M
YoY Change -28.92% 23.95%
Income Tax $73.00K $46.00K
% Of Pretax Income
Net Earnings $269.0K -$7.979M
YoY Change -103.37% 25.93%
Net Earnings / Revenue 0.21% -8.24%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 -$109.1K
COMMON SHARES
Basic Shares Outstanding 76.92M
Diluted Shares Outstanding 83.11M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.3M $152.4M
YoY Change 13.06% 15.19%
Cash & Equivalents $172.3M $152.4M
Short-Term Investments
Other Short-Term Assets $7.554M $16.60M
YoY Change -54.49% 30.71%
Inventory $158.0K $100.0K
Prepaid Expenses $14.47M
Receivables $39.70M $23.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $234.2M $192.7M
YoY Change 21.54% 18.58%
LONG-TERM ASSETS
Property, Plant & Equipment $41.60M $31.10M
YoY Change 33.76% 6.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.600M $3.100M
YoY Change -16.13% 14.81%
Total Long-Term Assets $55.20M $46.10M
YoY Change 19.74% 3.13%
TOTAL ASSETS
Total Short-Term Assets $234.2M $192.7M
Total Long-Term Assets $55.20M $46.10M
Total Assets $289.4M $238.8M
YoY Change 21.19% 15.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.00M $4.700M
YoY Change 112.77% 11.9%
Accrued Expenses $53.70M $46.40M
YoY Change 15.73% 24.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $14.70M
YoY Change -100.0% 267.5%
Total Short-Term Liabilities $121.3M $108.5M
YoY Change 11.8% 35.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.300M
YoY Change -100.0% -91.93%
Other Long-Term Liabilities $6.200M $6.900M
YoY Change -10.14% -17.86%
Total Long-Term Liabilities $6.200M $8.200M
YoY Change -24.39% -66.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $121.3M $108.5M
Total Long-Term Liabilities $6.200M $8.200M
Total Liabilities $127.5M $116.7M
YoY Change 9.25% 11.89%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $161.9M $122.1M
YoY Change
Total Liabilities & Shareholders Equity $289.4M $238.8M
YoY Change 21.19% 15.25%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $269.0K -$7.979M
YoY Change -103.37% 25.93%
Depreciation, Depletion And Amortization $4.000M $3.800M
YoY Change 5.26% 11.44%
Cash From Operating Activities $13.43M $7.760M
YoY Change 73.07% 324.04%
INVESTING ACTIVITIES
Capital Expenditures -$9.020M -$4.130M
YoY Change 118.4% -10.41%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$9.020M -$4.130M
YoY Change 118.4% -184.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.230M 940.0K
YoY Change 30.85% -60.83%
NET CHANGE
Cash From Operating Activities 13.43M 7.760M
Cash From Investing Activities -9.020M -4.130M
Cash From Financing Activities 1.230M 940.0K
Net Change In Cash 5.640M 4.570M
YoY Change 23.41% -49.89%
FREE CASH FLOW
Cash From Operating Activities $13.43M $7.760M
Capital Expenditures -$9.020M -$4.130M
Free Cash Flow $22.45M $11.89M
YoY Change 88.81% 84.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The significant estimates made by management affect revenues, the allowance for doubtful accounts, goodwill, share-based compensation, capitalization of internally developed software, return reserves, provision for income taxes, uncertain tax positions, loss contingencies, sales tax liabilities, and accrued liabilities. Management periodically evaluates these estimates and will make adjustments prospectively based upon the results of such periodic evaluations. Actual results could differ from these estimates.</p></div>
us-gaap Prior Period Reclassification Adjustment Description
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.18
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.14
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M18D
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
175619000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y4M24D
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
74065000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
172803000
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
152402000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.70
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
32752000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6956000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.011
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.437
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.472
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
rng Percentage Of Billings Collected Through Credit Cards Of Geographical Revenue
PercentageOfBillingsCollectedThroughCreditCardsOfGeographicalRevenue
0.70
CY2017Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11108000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11784000

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