Slide 1: Voice of Your Business
Voice of Your Business 1 ©2026 R ingCentral
Slide 2: Safe Harbor and Non-GAAP Measures
Safe Harbor and Non-GAAP Measures Non-GAAP free cash flow is defined as GAAP net cash provided by operating activities We do not provide guidance on forecasted GAAP EPS because of the inherent adjusted for capital expenditures including purchases of property and equipment and uncertainty and complex
Slide 3: Better with AI
Better with AI ©2026 R ingCentral
Slide 4: Why RingCentral
Why RingCentral 1 Durable TAM; Deep Defensible Moat Consumers largely calling or texting their business providers – interactions increasing Carrier-grade global real-time communications platform built over two decades — hard to replicate Top of B2C Communication Funnel 2 500K+ customers and millions
Slide 5: Leader in Agentic Voice AI
Leader in Agentic Voice AI #1 AI ~10% ARR 500K+ In UCaaS Revenue Market Share (1) RCAI (RingCentral AI-utilizing Customers in 46 countries customers) (2) Quarterly record $2.5B $250M+ >99% Total revenue up 5% YoY Committed to Innovation (3) Monthly net retention rate $530M $5.81 $4.36 Annual Free Ca
Slide 6: Q4 Financial Highlights
Q4 Financial Highlights $644M $622M 22.8% Total Revenue Subscription Revenue Non-GAAP Operating Margin 4.8% Y/Y 5.5% Y/Y Up 140 bps Y/Y $1.18 6.6% $0.26 Non-GAAP EPS GAAP Operating Margin GAAP EPS Up 21% Y/Y Up 400 bps Y/Y Up from ($0.08) in Q4 2024 $126M $1.43 1.7x Free Cash Flow Free Cash Flow per
Slide 7: Business Communications Leader
Business Communications Leader #1 Market Share in UCaaS Leader in Gartner 2025 Magic Quadrant by Synergy based on seats for UCaaS Worldwide RingCentral Zoom Microsoft Cisco 8x8 ~40 % This graphic was published by G artner, Inc. as part of a larger research document and should be evaluated in the con
Slide 8: Voice is mission critical in B2C verticals
Voice is penetration Heavy mission critical inverticals into b2c B2C verticals See slide 141 Others Healthcare Construction & Real Estate High Tech Financial Services Manufacturing Personal & Consumer services Transportation, Retail & Travel, Consumer & Leisure Products 8 ©2025 RingCentral
Slide 9: Leading the future of business communications with Agentic Voice AI
Leading the future of business communications with Agentic Voice AI 3.0 Agentic AI 2.0 plus: AI Receptionist (AIR) 2.0 AI Virtual Assistant (AVA) AI Conversation Expert (ACE) Workforce Engagement Management (RingWEM) 1.0 Multi-modal UC+CC 1.0 plus: Video Meetings & Events Cloud Phone Messaging & Col
Slide 10: RingCentral 3.0
RingCentral 3.0 AVA ACE AIR AI Virtual Assistant AI Conversation Expert AI Receptionist RingCollab RingCX Video, Events, Chat Contact Center RingEX Business Phone RingWEM Workforce 35B+ min/yr Engagement 1B+ calls/mo 250M+ SMS/mo Global | Reliable | Secure | Compliant | Scalable | Multi-Modal | Open
Slide 11: RingCentral sits the most upstream
RingCentral sits the most upstream AIR AI Receptionist RingEX AVA RingCX Business Phone AI Virtual Assistant Contact Center ACE AI Conversation Expert Other Business Applications
Slide 12: Agentic AI is the biggest global shift since the Internet
Agentic AI is the biggest global shift since the Internet 40% 70% By 2026, forty percent of G2000 job roles will involve By 2030, seventy percent of customer service organizations working with AI agents will rely on composable, AI- driven platforms ©2026 R ingCentral
Slide 13: AI for every interaction
AI for every interaction Leading with agentic voice AI Before During After AI Receptionist AI Virtual Assistant AI Conversation Expert (AIR) (AVA) (ACE) 24/7 voice AI agent Real-time AI assistance Conversation intelligence 13 ©2026 R ingCentral
Slide 14: AI outcomes with every interaction
AI outcomes with every interaction Automate Assist Analyze AIR AVA ACE Never miss a call Gain productivity Tighten business operations Book appointments Improve service levels Drive strategic decisions Capture leads Drive quality interactions Staff efficiently Offer self-service 24/7 Manage teams ef
Slide 15: The power of "AND"
AIR Automate The power of “AND” ✓ Voice-first omnichannel RingCentral ✓ Works across entire journey Agentic AI Platform ✓ Provides insights ✓ Takes actions ACE AVA Analyze Assist 15 ©2026 R ingCentral ©2026 R ingCentral
Slide 16: Achieved $100M+ ARR
Achieved $100M+ ARR From new products Innovation in 2025 AI Receptionist (AIR) AI Virtual Intelligent (AVA) 5,800+ $100M+ AI Conversation Custome rs Expert (ACE) RingCX RingCentral Events 3,000+ Custome rs ~50M 16 2023 2024 2025 ©2026 R ingCentral
Slide 17: 10% of total ARR is with AI attach
10% of total ARR is with AI attach More than doubled in 2025 AI Receptionist (AIR) AI Virtual Intelligent (AVA) AI Conversation Expert (ACE) 5,800+ Custome rs ~10% of ARR 3,000+ Custome rs 2023 2024 2025 17 ©2026 R ingCentral % of total ARR with at least one paid AI product = RCAI (RingCentral AI-ut
Slide 18: New Product Customer Growth
New Product Customer Growth AI Receptionist (AIR) RingCX AI Conversation Expert (ACE) AI voice agent that automatically answers AI-first contact center AI conversational insights customers inquiries and transfers calls (formerly RingSense) 40%+ Sequential Growth 100%+ YoY Growth 120%+ YoY Growth 8,3
Slide 19: Rapid AI-first Product Innovation
Innovation (R&D) spend split Rapid AI-first NPI Product Innovation Core ~60% of R&D towards New product innovation FY24 FY25 FY26 We are spending a majority of our R&D on NPI 19 ©2026 R ingCentral NPI = new product initiatives
Slide 20: Customer Breadth
Customer Breadth Small Business GSP Enterprise (<100 employees) (100+ employees) • Represents >10% of ARR • Approximately 30% of ARR • Double digit growth • Strong activity >$1m+ TCV • Double digit growth • Expands international reach • Strong in key verticals • Payback period <18 mo • Payback perio
Slide 21: Powerful Routes to Market
Powerful Routes to Market Direct Sales VAR Channel 16,000+ Global Service Providers 21 ©2026 R ingCentral
Slide 22: Financials
Financials 22 ©2026 R ingCentral
Slide 23: Strong Financial Profile
Strong Financial Profile Total Revenue Revenue & Profit Operating Profit ($M) 4%-5% ($M and % of total rev) 23.0-23.5% 22.5% 21.0% 2,515 19.1% 566 2,400 504 2,202 1,988 12.4% 420 246 FY’22 FY’23 FY’24 FY’25 FY’26E FY’22 FY’23 FY’24 FY’25 FY’26E Free Cash Flow Continued operating income improvement d
Slide 24: Increasing FCF/share and EPS while Reducing SBC & Share Count
Increasing FCF/share and EPS while Reducing SBC & Share Count Fully Diluted Share Count Stock-Based Compensation In-year grants Prior year grants (in millions of shares) (% of total revenue) Target: Reduce SBC to 3-4% 20% 20% of revenue in 3-4 years 96.2 96.6 8% 9% 14% 94.5 86.5-87 4% 11% 9% 12% 11%
Slide 25: Expanding FCF & Reducing Share Grants
FCF vs. Shares Granted1 FCF ($M) ($ in million) Shares Granted ($M) 836 Expanding FCF & 530 580-600 Reducing 439 403 Share Grants 438 324 253 161 150 105 80 FY21 FY22 FY23 FY24 FY25 FY26E 25 1 . 20 26E represen ts m idp oint of g uid ance fo r FCF ($), estim ate of S hares Gran ted ($), as of Feb ru
Slide 26: Improving GAAP Financial Performance
Improving GAAP Financial Performance Target: Operating Margin (GAAP) Improve GAAP Operating GAAP EPS (% of total rev) Margin to ~20% in 3-4 years (USD) 8.6% – 9.6% 4.8% 0.1% 0.48 2022 2023 2024 2025 2026E 2022 2023 2024 2025 (9.0%) (1.74) (0.63) (32.7%) (9.23) 26 ©2026 R ingCentral
Slide 27: Strong Balance Sheet
Strong Balance Sheet Reducing Debt Improving leverage ratio Gross Debt ($B) Net Debt to Adj. EBITDA 1.64 4.3x 1.55 1.53 Approaching investment 2.6x grade 1.26 2.2x 1.7x 1.00 Q4’22 Q4’23 Q4’24 Q4’25 Q4’26E Q4’22 Q4’23 Q4’24 Q4’25 Q4’26E Credit Ratings Upgraded in 2025 BB+ Baa2 BB+ (Outlook Positive)
Slide 28: Initiating Dividends
Initiating Dividends Initiating Dividends in 2026 Payout per share (quarterly) $0.075 Implied Dividend Yield ~1.0% (annual) Payout frequency Quarterly Driving predictable returns to shareholders 28 ©2026 R ingCentral
Slide 29: Q1 2026 Guidance
Q1 2026 Guidance Q1 2026 Subscriptions Revenue $620 to $625 mil. Subscriptions Revenue Growth Y/Y 5.1% to 5.9% Total Revenue $640 to $645 mil. Total Revenue Growth Y/Y 4.6% to 5.4% GAAP Operating Margin 7.1% to 8.2% Stock-based Compensation $60 to $65 mil. Non-GAAP Operating Margin(1) 22.8% to 22.9%
Slide 30: FY 2026 Guidance
FY 2026 Guidance FY 2026 Subscriptions Revenue Growth Y/Y 4.5% to 5.5% y/y Total Revenue Growth Y/Y 4.0% to 5.0% y/y GAAP Operating Margin 8.6% to 9.6% Stock-based Compensation $240 to $250 mil. Non-GAAP Operating Margin(1) 23.0% to 23.5% Non-GAAP EPS(1) $4.76 to $4.97 Fully Diluted Share Count 86.5
Slide 31: Appendix
Appendix 31 ©2026 R ingCentral
Slide 32: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights $ Metric Y/Y Growth Revenue Subscriptions Revenue $622M 6% Total Revenue $644M 5% ARR Total $2,673M 7% Customer ARR by Size1 Mid-Market and Enterprise $1,654M 6% Enterprise $1,122M 5% 1) Our reported results also include our annualized exit monthly recurring subscription
Slide 33: Net debt to adjusted EBITDA
Net debt to adjusted EBITDA ($millions) Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Adj. EBITDA $65.5 $72.7 $87.0 $92.7 $112.3 $125.0 $127.8 $138.0 $142.8 $145.8 $149.0 $152.8 $155.1 $161.5 $167.8 $168.7 LTM Adj. EBITDA 317.9 364.7 416.9 457.8 503.
Slide 34: Debt Profile as of December 31, 2025
Debt Profile as of December 31, 2025 (1) The C ompany has $ 650.0 million available for drawdown under the Term Loan as of December 31, 2025. (2) The C ompany has $ 305.0 million available for borrowing under the R evolving C redit Facility as of December 31, 2025. (3) The C ompany settled the remai
Slide 35: Reconciliation of Operating Income
35 RINGCENTRAL, INC. RECONCILIATION OF OPERATING INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES Revenues Subscriptions Other ‘Total revenves ‘Cost of revenues reconciliation (GAAP Subscriptions cost of revenues Share-based compensation Amortization of acquired intangibles ‘Thisd-party relocation a
Slide 36: Reconciliation of Operating Income
36 Income (loss) from operations reconciliation GAAP income from operations Share-based compensation Amortization of acquired intangibles Asset write-down charges Third-party relocation and other costs Restructuring costs Non-GAAP Income from operations Non-GAAP Operating margin Adjusted EBITDA reco
Slide 37: Reconciliation of Operating Income
37 RINGCENTRAL, INC. RECONCILIATION OF OPERATING INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES Income (loss) from operations reconciliation GAAP loss from operations Share-based compensation Amortization of acquisition intangibles Asset write-down charge Third-party relocation and other costs Res
Slide 38: Reconciliation of Net Income
38 RINGCENTRAL, INC. RECONCILIATION OF NET INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES (In thousands, except per share data) (Unaudited) Three Months Ended ‘Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 ‘Net income (loss) income reconciliation GAAP net (loss) income $ 22,967
Slide 39: Reconciliation of Net Income
RINGCENTRAL, INC. RECONCILIATION OF NET INCOME (LOSS) GAAP MEASURES TO NON-GAAP MEASURES (In thousands, except per share data) (Unaudited) Net income (loss) income reconciliation GAAP net loss Share-based compensation Amortization of acquisition intangibles Asset write-down charge Third-party reloca
Slide 40: Reconciliation of Cash Flows
RINGCENTRAL, INC. RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES (Unaudited, in thousands) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Net cash provided by operating activities $ 148,989 $ 132,882 $ 617,427 $ 4
Slide 41: Reconciliation of Cash Flows
RINGCENTRAL, INC. RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES GAAP MEASURES TO NON-GAAP FREE CASH FLOW MEASURES (Unaudited, in thousands) Year Ended December 31, 2023 2022 Net cash provided by operating activities $ 399,662 $ 191,305 Capitalized expenditures (75,740) (86,443) Non-GAAP fre
Slide 42: Reconciliation of Forecasted Operating Margin and Free Cash Flow
42 RINGCENTRAL, INC. RECONCILIATION OF FORECASTED OPERATING MARGIN AND FREE CASH FLOW GAAP MEASURES TO NON-GAAP MEASURES (Unaudited, in millions) Q1 2026 FY 2026 Low Range HighRange LowRange High Range GAAP income from operations 46 53 224 254 GAAP operating margin 7.1% 8.2% 8.6% 9.6% Share-based co
Slide 43: Thank You
Thank You 43 ©2026 R ingCentral