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RingCentral cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$173M in Q3 2026 · $667M over twelve months

Operating cash flow$180M
Capital spending−$7.0M
Free cash flow+$173M
Cash / net income0.3×
Cash conversion cycle40 days

Analysis

In Q3 2026, RingCentral generated $180M of operating cash flow and spent $7.0M on capital projects, leaving free cash flow of $173M. That is $29.1M more than in Q3 2025 ($144M).

Over the twelve months to Sep 30, 2026, operating cash flow was $699M; the largest uses were other financing ($679M), buybacks ($328M), other investing ($63.5M); besides operations, cash came from net borrowing (+) / repaid (−) ($389M), shares issued ($15.6M); the cash balance fell by $35.3M.

Operating cash flow was $180M against net income of $570M — 0.3× profit, less cash than reported earnings, worth checking against working capital. The largest differences: deferred taxes −$545M, stock-based pay +$64.7M, depreciation & amortization +$56.6M.

Its cash conversion cycle was 40 days (receivables 52 + inventory 1 − payables 12).

Free cash flow

RingCentral: free cash flow by quarterRingCentral: free cash flow by quarter$127MQ4 2024$144MQ1 2025$158MQ2 2025$144MQ3 2025$141MQ4 2025$158MQ1 2026$196MQ2 2026$173MQ3 2026
Operating cash flow less capital spending.
RingCentral: operating cash flow against capital spendingRingCentral: operating cash flow against capital spendingOperating cash flowCapital spending$133M$6.4MQ4 2024$150M$5.6MQ1 2025$167M$9.0MQ2 2025$151M$7.6MQ3 2025$149M$8.0MQ4 2025$164M$6.5MQ1 2026$206M$10.6MQ2 2026$180M$7.0MQ3 2026
Latest (Q3 2026): Operating cash flow $180M, Capital spending $7.0M.

Capital allocation, year by year

RingCentral: where the cash came from (up) and went (down), by fiscal yearRingCentral: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $152MFY2021: Shares issued $236MFY2021: Capital spending −$29.0M$388MFY2021FY2022: Operating cash flow $191MFY2022: Shares issued $15.9MFY2022: Capital spending −$32.7MFY2022: Buybacks −$99.8M$207MFY2022FY2023: Operating cash flow $400MFY2023: Net borrowing $776MFY2023: Shares issued $16.7MFY2023: Capital spending −$23.5MFY2023: Acquisitions −$14.7MFY2023: Buybacks −$311M$1.2BFY2023FY2024: Operating cash flow $483MFY2024: Net borrowing −$20.0MFY2024: Shares issued $16.7MFY2024: Capital spending −$25.0MFY2024: Acquisitions −$26.3MFY2024: Buybacks −$322M$500MFY2024FY2025: Operating cash flow $617MFY2025: Net borrowing −$633KFY2025: Shares issued $14.7MFY2025: Capital spending −$30.1MFY2025: Acquisitions −$20.8MFY2025: Buybacks −$334M$632MFY2025
Over these 5 years operating cash flow totalled $1.8B; the largest uses were buybacks ($1.1B) and capital spending ($140M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$110M
Debt$1.0B
Net debt$900M
Due within a year$625M

RingCentral funds itself: free cash flow was $667M over the last twelve months, and $110M of cash and investments stands against $1.0B of debt ($625M due within a year, 0.2× covered by cash).

RingCentral: debt maturities by year (FY2025)RingCentral: debt maturities by year (FY2025)$625MYear 1$15.5MYear 2$15.5MYear 3$15.5MYear 4
Principal due in each year as disclosed in the annual report, against $110M of cash and investments now.

Where the cash came from and went

RingCentral: sources (+) and uses (−) of cash, Q3 2026RingCentral: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$180MNet borrowing (+) / repaid (−)−$106MBuybacks−$18.0MOther financing−$16.5MOther investing−$16.1MDividends−$10.5MCapital spending−$7.0MTaxes on employees’ shares−$6.8MCash drawn (+) / kept (−)$1.4MExchange rates−$32K
RingCentral: sources (+) and uses (−) of cash, TTM to Q3 2026RingCentral: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$699MOther financing−$679MNet borrowing (+) / repaid (−)$389MBuybacks−$328MOther investing−$63.5MCash drawn (+) / kept (−)$35.3MCapital spending−$32.1MTaxes on employees’ shares−$26.6MShares issued$15.6MAcquisitions−$7.9MExchange rates−$1.3M

From profit to cash

RingCentral: net income to operating cash flow, Q3 2026RingCentral: net income to operating cash flow, Q3 2026Net income$570MDepreciation & amortization$56.6MStock-based pay$64.7MDeferred taxes−$545MReceivables$7.3MPayables$5.4MAccrued liabilities$2.6MDeferred revenue$727KPrepaid and other assets−$9.1MOperating cash flow$180M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265211240
Q2 20265201340
Q1 20265201438
Q4 20255501639
Q3 20255612630
Q2 20255713225
Q1 20255612136
Q4 20245911545

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$180M−$7.0M—−$18.0M−$10.5M−$106M—$1.4M$173M
Q2 2026$206M−$10.6M—−$93.7M−$6.4M——$5.1M$196M
Q1 2026$164M−$6.5M−$7.9M−$81.3M−$6.4M$599M—$16.0M$158M
Q4 2025$149M−$8.0M—−$135M——$5.7M$12.8M$141M
Q3 2025$151M−$7.6M−$20.8M−$117M———$22.7M$144M
Q2 2025$167M−$9.0M—−$31.8M———−$13.7M$158M
Q1 2025$150M−$5.6M—−$50.0M—−$633K—$88.4M$144M
Q4 2024$133M−$6.4M—−$77.4M—−$6.2M$6.7M−$30.2M$127M

RingCentral: income statement and cash flow

RingCentral, Q3 2026: revenue $676M (+6% year over year), operating margin 8.0%. The chart follows the revenue to costs, profit and cash.

RingCentral: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.