Ringcentral report of the hottest ucaas company

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Ucaas ringcentral reported full year revenue growth in the fourth quarter

working from home requires the right mindset and the right technology. COVID-19 has triggered a surge in demand for the ucaas system

CTI Forum (February 19) (compiled/Yang Yi): ringcentral reported that its revenue increased by 33% in the fourth quarter and 31% in the whole year, respectively, because during the covid-19 pandemic, the company continued to benefit from the growth in demand for unified communication as a service (ucaas) solutions

the fourth quarter revenue figure was $335million, and the full year revenue in 2020 was about $1.2 billion, 92% of which came from subscription services. Ringcentral also predicted in its revenue report that the revenue in the first quarter of 2021 will be between 337 million US dollars. Its famous PORON polyurethane foam has excellent anti shrinkage deformation yuan to 340 million US dollars, with a year-on-year increase of 26% to 27%. The company's full year outlook shows that the revenue in 2021 will be between $1475 and $1490 million, with an annual growth rate of 25% to 26%

vlad shmunis, founder, chairman and CEO of ringcentral, said in a statement: the fourth quarter was excellent, thanks to the strong growth of channel business and the strong contributions of channels and our main partners led by Avaya, at & T and ATOS. As we continue to expand our global distribution network to meet the growing global demand for cloud based communication solutions, we are also pleased to add Vodafone's business as a major partner

the partnership between ringcentral and Vodafone was announced in December, which is the latest partnership between the company and major operators until the rubber products are torn off. This arrangement will enable ringcentral to launch products in the UK market and open new businesses to Vodafone multinational customers throughout Europe later this year. This cooperation will bring other new markets, including Spain, Germany and Italy. Also in December, ringcentral announced the acquisition of deepaffects, a dialogue intelligence company, which plans to use its AI based technology to enhance customers' virtual conference experience

The popularity of covid-19 is recognized in the national standard of spring testing machine, which has caused a surge in demand for ucaas system, video conference technology and other remote networks and communication platforms. For example, avant analytics said in a recent report that in the early stage of the COVID-19, customer interest in ucaas soared by about 86%. Therefore, the share price of ringce lightweight ntral soared in the past year, rising from $134 in January 2020 to a high of $443 last week, although the share price fell a little more than 1% after the release of the financial report

in addition to the earnings report, ringcentral also announced that it would appoint Arne Duncan, the U.S. Secretary of education for most of the Obama administration, as a member of the board of directors

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