Why is RingCentral Stock Such Hot Property?
The dramatic growth in the cloud communications market has seen the rise of some the tech industry’s hottest companies, RingCentral are a case in point.
RingCentral have just released their fourth-quarter 2018 results and they are even better than expected. Generally, if the financial report is positive then that is reflected in the stock price. Over the last few weeks the RingCentral stock price has risen more than 20% which is dramatic enough to be turning even more heads on the trading floor. The company is listed on the largest American stock exchange, The New York Stock Exchange (NYSE).
The headline figures from their Q4 report, which has garnered so much trading attention, are dramatic. Let’s start with the revenue. Many sceptics have claimed that cloud companies’ revenue figures are misleading, but they are still a viable indicator of overall growth and general market share. Total revenue for the quarter was up to $189 million representing a 34% increase year on year. Software subscriptions totalled £172 million also mirroring a dramatic increase of 32% against the previous period last year.
Perhaps the most impressive, an ominous from a competitor stand point, figures released relate to RingCentral’s success in their emerging go-to-market strategies. Many onlookers had considered RingCentral’s proposition to be most relevant to SME organisations, but the latest figures now show that the fastest growth is taking place with their offerings to the Enterprise. Customers that generate over $100000, or more, in annual recurring revenue (ARR) are classified by RingCentral as Enterprise. In the final quarter of 2018 RingCentral recorded a near doubling of their Enterprise business with 99% growth year on year. The total ARR accrued in the Enterprise sector, $171 million, still only represents around 23% of RingCentral’s overall total but this dramatic growth indicates that the proposition is becoming more and more appealing with potentially the most stringent of customers in terms of compliance and governance.
Sahil Rekhi, Managing Director for RingCentral EMEA, explained how their strategy has resulted in this impressive growth across the board.
“As part of our global strategy, we continue to evolve the organisation in EMEA to service the Enterprise market, showcasing strong performance and growth in region of customers with 100k+ ARR.”
Another area which is particularly interesting is the development of RingCentral’s channel partner business. Up until now RingCentral have primarily operated a direct sales model across the majority of their business territories. In recent months however they have been placing an increasing focus on developing their indirect channel business and this appears to be paying dividends. Last quarter there was an 80% increase in the annual recurring revenue created by their global channel partner community. Taking the total ARR generated by the channel to over $180 million, now representing nearly a quarter of the annual total. The fact that their partner business is growing so strongly alludes to another positive, increased customer demand. Partner businesses globally only tend to adopt new technology platforms when there is significant demand and enquiries from their customer base. The 80% increase infers that the brand is becoming even more synonymous globally and customers are requesting the platform from their technology partners, driving this conspicuous market development.
It might seem a simple concept that positive financial figures are reflected in a rise in stock value, but the markets are more nuanced than that. The dramatic rise in the stock value doesn’t just recognise RingCentral’s continually impressive growth it also perceives the areas in which the growth is occurring. With the business expanding from all angles, in the Enterprise sector and through the global partner channel, as well as its usual growth areas RingCentral’s proposition becomes even more attractive.
Industry: Unified Communications News
- IAM Consultant- OKTA
- upto €90,000 plus benefits
I am looking for an experienced IAM process Manager to help drive forward a series of IAM implementation for a global Manufacturing business, Ideally you will be skilled with Okta and have knowledge of PAM Solutions, You will be responsible for: Driving the design and continuous improvement of complex IAM solutions in close collaboration with business partners Consult on the optimisation of IAM processes and design proper IT-based solutions to meet availability and quality targets Define technical specifications for SW-development (standards, design patterns, test cases, scenarios) and manage the life cycle of designed solutions Actively scan for relevant innovations and new technologies to identify further potential for improving IAM solutions and processes using OKTA Analyse new features of the regular Okta releases We are looking for someone with strong IAM experience as an Architect, Analyst, Technical Engineer, or similar role in the Identity and Security domain Experience with relevant certifications in development/administration, design and configuration of the Okta IAM platforms Familiar with LCM - joiners, movers, leavers, application federation - SAML, OIDC, SCIM and many other IAM terms Good mix of competences in IAM business process and project management concepts and tools e.g., ServiceNow, Jira, PRINCE2, SCRUM (agile)
- SAP Security Consultant
- upto €70,000 plus benefits
I am looking for an experienced SAP Security Consultant. The ideal candidate will have a strong understanding of SAP security concepts and be able to apply them to real-world scenarios. ideally you will also have experience with Securitybridge or Onapsis, or a similar SAP security tool. Your responsibilities will include: Reviewing and auditing SAP security settings and controls Identifying and remediating security vulnerabilities Implementing security best practices Educating users on SAP security Experience experience in SAP security Experience with Securitybridge or Onapsis, or a similar SAP security tool would be very advantageous Strong understanding of SAP security concepts Excellent problem-solving and analytical skills Excellent communication and presentation skills Fluent in French & English
- Post Grad MSc Cyber security - Junior Cyber Risk Analyst wanted. UK
- United Kingdom
- Entry role
The perfect start to your new Cyber Security Career. Post Graduate Cyber Risk Analyst Wanted. Are you are fresh from earning your Cyber Security MSc and eager to start your career in Cyber Security? We are looking for a recent post graduate to join a forward thinking Cyber Security Consultancy for the ideal entry role into Cyber Security. Whilst employed industry experience is not expected, as full training and support will be provided, a history of recent education in Cyber Security / Cyber Risk is essential. We are looking for someone with an inquisitive mind, who is confident to ask the right questions and who isn't afraid to challenge the status quo. Superb communication skills are a must (in person, written and verbal) This is a UK based role that is remote first with monthly travel (1-2 a month) to meet with the team and in time to meet clients. If you aren’t available to travel this isn’t the opportunity. We are unable to provide VISA sponsorship as there will be a requirement to achieve Security clearance If you're adaptable, open to fresh perspectives, and excited to be part of a forward-thinking team and looking for an opportunity to help make a difference in a Cyber consulting role, this opportunity is for you. For more information apply here……
- Microsoft Exchange Contractor | London | OUTSIDE IR35 | SC Cleared
- OUTSIDE IR35
Microsoft Exchange Contractor | London | OUTSIDE IR35 | SC Cleared • We require someone that has experience of migration exchange from windows server 2012 to 2019. • In depth understand of On-Prem exchange server management and deployment. • Experience migrating On-Prem exchange servers from 2012 upwards. • Secure Email Gateway experience essential Due to the nature of the requirement the individual must be commutable to London 2-3 days a week.