RingCentral this week announced its second-quarter fiscal year 2021 results, which ended June 30, 2021. Per the norm, the company put up strong results across the board.
Looking at the numbers, you’ll see total revenue was $379.3 million (well ahead of the $358.9 million street expectations), representing a year-over-year (YoY) growth of 36.4%. As one would expect, subscription revenue was the primary growth vehicle as it came in at $351.2 million, representing 36% YoY. Gross margins were a solid 77.4% in the quarter, which was in line with the Street estimate of 77%. GAAP operating margins were 10.2%, which is impressive for a company that invests as much as it does in growth.