RingCentral's total revenue grew by 25 percent throughout the fiscal year 2022, with revenue up from $1.59bn in 2021 to $1.99bn in 2022.
The company revealed the figure during its fourth quarter FY 2022 earnings call, in which the company reported a revenue of $525 million, representing 17 percent year-over-year growth.
Vlad Shmunis, RingCentral's Founder, Chairman and CEO, commented: "We are in a select category of SaaS companies with over $2 billion of recurring revenue, and our Q4 results reflect our ability to deliver healthy growth and increasing profitability as we continue to scale.
"We are executing well in the current environment given our product leadership, which provides customers with the market's leading UCaaS platform, as well as an integrated CCaaS solution."
Although with its earnings, RingCentral has also announced in recent days it is extending its strategic partnership with Avaya and that it is also entering a new one with Amazon Web Services (AWS).
Both partnerships are designed to help organisations accelerate their journeys to the cloud for communications and collaboration.
Avaya
Earlier this week, Avaya announced it was filing for a chapter 11 bankruptcy to wipe off more than 75 percent of its $3.4bn debt.
At the same time as the bankruptcy announcement, RingCentral confirmed that it was extending and expanding its strategic partnership agreement with Avaya.
The union sees the two organisations bring Avaya Cloud Office (ACO) by RingCentral to the market; however, details of the new terms between the duo are still vague.
Shmunis said: "We announced an extended and expanded agreement to our strategic partnership with Avaya, with significantly improved terms.
"Avaya Cloud Office by RingCentral remains Avaya's exclusive multi-tenant U.K. solution to Avaya customers.
"Avaya continues to hold the world's largest base of unified communications on-prem users, and we remain best positioned to migrate this base to the cloud."
RingCentral has confirmed that some of the new terms include minimum seat commitments and a better-aligned incentive structure to drive an accelerated migration to ACO.
Mo Katibeh, President and COO, RingCentral, is predicting there will be an increased focus on ACO once Avaya restructures its finances.
He commented: "We expect to see renewed focus in selling ACO after Avaya finalizes their recapitalization.
