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BELMONT, Calif.--(BUSINESS WIRE)-- #AIInnovation--RingCentral, Inc. (NYSE: RNG), a global leader in AI-powered customer engagement, today announced it has been named to Business Insider America's Most Innovative Businesses 2027 list, produced in partnership with Plant-A Insights Group. The list recognizes publicly traded U.S. companies that distinguish themselves through strong innovation performance, combining industry reputation, technological impact, and investment in research and development. This marks th.

RUTLAND, Vt., Sept. 03, 2026 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company in the Eastern United States, and Waga Energy (EPA: WAGA), a global expert in the production of Renewable Natural Gas (“RNG”) from landfills, announced the start of operations of the RNG production facility at the McKean Landfill in Mount Jewett, Pennsylvania.

The McKean facility is the third to come online this year, following the successful commissioning of facilities at the Chemung County Landfill and the Hyland Landfill. Together, the three projects complete the partnership agreement signed in 2023.

“Bringing this facility online at our McKean landfill is another important step in our efforts to recover more value from the materials we manage,” said Ned Coletta, President and CEO of Casella Waste Systems, Inc. “Our partnership with Waga Energy has always been focused on collaborating to leverage each other’s strengths, and it’s extremely gratifying to see the third facility come online and producing as anticipated.”

The facility uses Waga Energy's patented WAGABOX® technology to upgrade landfill gas into pipeline-quality RNG. With 2,000 SCFM of installed processing capacity, McKean can generate up to 407,000 MMBtu (120 GWh) of renewable gas annually. Production will ramp up progressively as landfill gas volumes increase at the site.

“The commissioning of the McKean WAGABOX® unit is a strong testament to the commitment and execution capabilities of the Casella and Waga Energy teams,” said Guénaël Prince, Chief Executive Officer of Waga Energy Inc. “This project also demonstrates the strength of a partnership model that creates long-term value for both partners by transforming landfill gas into a reliable source of renewable energy.”

The RNG produced on-site is injected directly into the National Fuel Gas network, supplying the region with a renewable alternative to fossil natural gas. The project is expected to avoid 31,000 tons of CO₂-equivalent emissions each year, according to U.S. Environmental Protection Agency standards.

Under the terms of the agreement, Waga Energy fully funded the construction of each facility and will own and operate each of them for 20 years, while Casella and Waga Energy share the revenue generated from RNG sales.

About Casella Waste Systems, Inc.

Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the eastern United States. For more information, visit www.casella.com.

About Waga Energy

Waga Energy produces competitively priced Renewable Natural Gas (RNG, also known as biomethane) by upgrading landfill gas using a patented purification technology called WAGABOX®. The RNG produced is injected directly into the gas grids that supply individuals and businesses, providing a substitute for natural fossil gas. Waga Energy currently operates 36 RNG production units in France, Spain, Canada and the USA, representing an installed capacity of more than 6.5 million MMBtu (1.9 TWh) per year. To date, Waga Energy has 19 RNG production units under construction worldwide. Each project initiated by Waga Energy contributes to the fight against global warming and helps the energy transition. Waga Energy is listed on Euronext Paris (FR0012532810 – EPA: WAGA).

Safe Harbor Statement

Certain matters discussed in this press release, including but not limited to, the statements regarding our intentions, beliefs or current expectations concerning, among other things, projections as to the anticipated benefits of the commercial agreement, the anticipated amounts of renewable natural gas to be produced and the anticipated impact of the commercial agreement and the renewable natural gas facilities on the Company’s business and future financial and operating results are "forward-looking statements". These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” “will,” “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which the Company operates and management’s beliefs and assumptions. The Company cannot guarantee that it actually will achieve the financial results, plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of the Company’s operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements.

Such risks and uncertainties include or relate to, among other things, the following: project development timelines may extend past anticipated schedules; the Company may not fully recognize the expected financial benefits from the RNG facilities due to operational challenges, gas production levels, market or economic factors outside its control which may impact revenues and costs, or for other reasons; and potential regulatory changes could adversely impact operations.

There are a number of other important risks and uncertainties that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K for the fiscal year ended December 31, 2025, and in other filings that the Company may make with the Securities and Exchange Commission in the future.

The Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Contact Us
Casella Waste Systems, Inc.
   Media Relations 
Jeff Weld
Vice President of Communications
(802) 772-2234Investor Relations 
Henry Baby, CFA
Vice President of Investor Relations and Finance
(802) 417-3841  Waga Energy
   Alicia Fanni
Marketing and Communications Manager
(786) 300-9545
[email protected] Laurent Barbotin
Head of PR
+33 772 771-185
[email protected]
  

Tarun Arora, Chief Accounting Officer of RingCentral, Inc. (RNG +1.24%), reported the disposition of 5,623 shares of Class A Common Stock on August 20 and August 21, 2026, according to a SEC Form 4 filing.

Transaction summaryMetricValueShares sold5,623Transaction value~$368,138Post-transaction shares (directly held)80,384Post-transaction value$5.39 millionTransaction value based on SEC Form 4 weighted average sale price ($65.47); post-transaction value based on August 21, 2026 market close ($67.01).

Key questionsWhat was the nature of the equity disposition?
The transaction included a non-discretionary component of 3,747 shares remitted to the issuer to satisfy tax withholding requirements upon the vesting of restricted stock units, alongside 1,876 shares sold via a pre-scheduled trading arrangement.When was the trading plan for the open-market sales established?
The 1,876 shares were sold pursuant to a Rule 10b5-1 trading plan that Arora adopted on May 22, 2026.How does this affect the insider's total equity exposure?
Arora maintains a direct holding of 80,384 shares, representing an approximate 0.0932% interest in the $5.8 billion cloud communications company.What is the recent performance context for RingCentral stock?
The shares were priced at $67.01 as of the August 21, 2026 market close, reflecting a one-year total return of 131% as of the transaction date.Company OverviewMetricValueShare Price (as of market close 2026-08-21)$67.01Market Capitalization$5.6 billionRevenue (TTM)$2.6 billionNet Income (TTM)$110 millionCompany SnapshotRingCentral delivers cloud-based software-as-a-service (SaaS) solutions that enable businesses to communicate, collaborate, and connect through its proprietary Message Video Phone (MVP) platform, with core offerings including RingCentral Office for unified communications and comprehensive contact center capabilities.The company operates on a subscription-based SaaS business model, generating recurring revenue from enterprise and mid-market customers who license its cloud communications and collaboration platforms on a per-user or per-seat basis.RingCentral primarily serves North American businesses across multiple verticals, including enterprises, mid-market organizations, and small-to-medium businesses seeking integrated unified communications and contact center solutions to enhance operational efficiency and customer engagement.

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RingCentral is a leading cloud-based communications platform provider with approximately 7,378 employees and a market capitalization of $5.8 billion. The company has demonstrated significant growth momentum, with TTM revenue of $2.6 billion and net income of $110.3 million, reflecting strong operational leverage in its SaaS business model.

RingCentral's competitive advantage derives from its integrated MVP platform architecture, which consolidates unified communications, collaboration, and contact center capabilities into a single ecosystem, enabling customers to streamline operations and reduce technology complexity.

What this transaction means for investorsThis sale shouldn't concern investors. It represented a small percentage of the insider's stake in the company's stock. Moreover, it was completed under a Rule 10b5-1 plan, which is commonly used by insiders to complete transactions while avoiding the appearance of acting on material non-public information.

Importantly, RingCentral's TTM revenue grew 5% year over year, while operating margin is showing considerable improvement rising to 6.7%. This builds on last year's margin of 4.8% in 2025 and just 0.1% in 2024.

The company's improved profitability has lifted the stock over the last year, and analysts estimate earnings will grow at an annualized rate of 15% in the next several years.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Great Lakes Advisors LLC purchased a new position in shares of RingCentral, Inc. (NYSE:RNG – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,491 shares of the software maker’s stock, valued at approximately $409,000.

A number of other large investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of RingCentral in the first quarter worth approximately $697,000. Robertson Stephens Wealth Management LLC boosted its holdings in RingCentral by 124.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after acquiring an additional 50,122 shares during the period. LSV Asset Management grew its position in RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after acquiring an additional 1,686,900 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in RingCentral by 11.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock valued at $42,057,000 after acquiring an additional 149,532 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in RingCentral by 60.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock worth $8,096,000 after purchasing an additional 105,145 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth A number of brokerages have recently issued reports on RNG. Piper Sandler boosted their target price on shares of RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Robert W. Baird set a $45.00 price objective on shares of RingCentral in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Finally, Wells Fargo & Company upped their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.40.

Check Out Our Latest Stock Report on RNG Insider Buying and Selling at RingCentral In related news, Director Robert I. Theis sold 2,530 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total transaction of $101,908.40. Following the completion of the sale, the director directly owned 30,834 shares in the company, valued at $1,241,993.52. This represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.59, for a total value of $51,346.35. Following the sale, the director directly owned 29,372 shares in the company, valued at approximately $1,192,209.48. The trade was a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 34,052 shares of company stock worth $1,506,498. 7.30% of the stock is currently owned by company insiders.

RingCentral Trading Down 0.1% Shares of RingCentral stock opened at $66.92 on Monday. The stock’s fifty day moving average price is $48.11 and its 200-day moving average price is $41.66. The firm has a market cap of $5.59 billion, a P/E ratio of 53.54, a P/E/G ratio of 1.16 and a beta of 1.10. RingCentral, Inc. has a 12 month low of $24.14 and a 12 month high of $68.45.

RingCentral (NYSE:RNG – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Analysts forecast that RingCentral, Inc. will post 2.88 earnings per share for the current year.

RingCentral Increases Dividend The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.7%. This is a positive change from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

RingCentral Company Profile (Free Report)

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

Featured Articles Five stocks we like better than RingCentral VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding RNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RingCentral, Inc. (NYSE:RNG – Free Report).

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Vaibhav Agarwal, Chief Financial Officer of RingCentral, Inc. (RNG +1.07%), disposed of 3,437 shares of Class A Common Stock on Aug. 17 and Aug. 18, 2026, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueShares sold (directly held)3,437Transaction value~$223,000Post-transaction shares (directly held)~169,282Post-transaction value~$11.0 millionTransaction value based on SEC Form 4 weighted average sale price ($64.77); post-transaction value based on Aug. 18, 2026, market close ($65.19).

Key questionsWhat were the specific mechanisms behind this disposal?
The transaction was executed through two primary channels: a pre-scheduled sale of 1,688 shares and a non-discretionary remittance of 1,749 shares to RingCentral to cover tax liabilities arising from the vesting of restricted stock units (RSUs) granted under the firm's Key Employee Equity Bonus Plan.How does the Rule 10b5-1 plan affect the timing of this activity?
The discretionary portion of the sale was executed under a Rule 10b5-1 trading plan adopted by the executive on Sept. 15, 2025, which allows insiders to establish a predetermined schedule for selling shares to avoid concerns about material non-public information.What is the executive's remaining equity exposure?
Following the transactions, the Chief Financial Officer maintains a direct interest in 169,282 shares, representing an ownership stake of 0.2000% of the company.What has been the recent performance context for the stock?
The shares were disposed of at a weighted-average price of $64.77, amid a period in which the equity has generated an 116% total return over the 12 months ending on the transaction date of Aug. 18, 2026.Company OverviewMetricValueShare Price (as of market close 2026-08-17)$64.07Market Capitalization$5.4 billionRevenue (TTM)$2.58 billionNet Income (TTM)$110 millionCompany SnapshotRingCentral delivers cloud-based software-as-a-service (SaaS) solutions centered on its proprietary Message Video Phone (MVP) platform, offering unified communications and contact center capabilities as primary revenue sources.The company operates a subscription-based business model, generating recurring revenue from enterprise and mid-market customers through tiered service offerings, including RingCentral Office and comprehensive contact center solutions.RingCentral primarily serves North American businesses across multiple verticals seeking integrated communication and collaboration platforms, targeting organizations ranging from small businesses to large enterprises requiring unified communications infrastructure.

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RingCentral is a cloud communications platform provider with a $5.4 billion market capitalization, 7,378 employees, and TTM revenue of $2.6 billion. The company has demonstrated strong growth momentum, with a one-year stock price appreciation of 115.5%, reflecting investor confidence in its market position and execution.

RingCentral's competitive advantage derives from its integrated MVP platform architecture, which consolidates voice, video, messaging, and contact center capabilities into a unified solution, enabling customers to streamline communications infrastructure and reduce operational complexity.

What this transaction means for investorsThis sale shouldn't concern investors. It represented a small percentage of the executive's holdings in the company's stock. Moreover, these sales appear to be nothing more than personal financial management.

The important thing is that the CFO still holds the vast majority of his direct stake, and RingCentral continues to grow revenue. TTM revenue grew 5% year over year, while operating profit improved significantly, jumping 162%.

The stock is clearly responding to the company's improving profitability, and analysts see more growth ahead. The current consensus estimate calls for earnings to grow at a compound annual rate of 15% over the next several years.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: RingCentral (RNG - Free Report) RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect. The company’s cloud-based business communications and collaboration solutions are designed to provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. This makes remote working and collaboration easy.

RNG is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. RNG has a Growth Style Score of A, forecasting year-over-year earnings growth of 14.9% for the current fiscal year.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.10 to $5.01 per share. RNG boasts an average earnings surprise of +3.7%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, RNG should be on investors' short list.

RingCentral, Inc. (RNG) Presents at Oppenheimer 29th Annual Technology, Internet & Communications Conference Transcript

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) (“Clean Energy” or the “Company”) today announced its operating results for the second quarter of 2026.

Financial Highlights

Revenue of $106.4 million in Q2 2026 compared to $102.6 million in Q2 2025. Net loss attributable to Clean Energy for Q2 2026 was $(14.9) million, or $(0.07) per share, on a GAAP (as defined below) basis, compared to $(20.2) million, or $(0.09) per share, for Q2 2025. Adjusted EBITDA (as defined below) was $16.0 million for Q2 2026, compared to $17.5 million for Q2 2025. Cash, Cash Equivalents (less restricted cash) and Short-Term Investments totaled $138.0 million as of June 30, 2026, compared to $156.1 million as of December 31, 2025. Operational and Strategic Highlights

Announced the appointment of Bart Frabotta as Chief Operating Officer. Awarded two separate contracts to design and install liquefied natural gas fueling systems for gas-to-power applications in Puerto Rico. These contracts will provide energy security and resiliency to support local pharmaceutical manufacturing operations as well as fuel a six-megawatt combined heat and power plant. In May, we announced the expansion of our RNG station network to six new locations in California, New Jersey, Oklahoma, Michigan and Washington. These new locations allow us to continue expanding our nationwide network to meet the growing demand from heavy-duty truck fleets seeking immediate fuel cost savings and significant emissions reductions by powering their trucks with clean-burning RNG. RNG gallons sold of 63.2 million gallons in Q2 2026, a 2.9% increase compared to Q2 2025. Commentary by Clay Corbus, President and Chief Executive Officer

“Our second quarter results demonstrate continued solid execution across the business. Fuel volumes, including both RNG and conventional natural gas, increased year over year, reflecting ongoing customer investment in and demand for cleaner, lower-carbon fuel. This has been especially true in today’s volatile fuel environment. Having a clean, domestically produced fuel is one of the reasons that we remain on plan through the first half of the year, along with great execution by our team. With $138.0 million in cash and investments at quarter end, we remain focused on serving our fleet customers and expanding the role of domestically supplied RNG as a practical, low-carbon fuel for a variety of applications in this rapidly evolving energy market.”

Summary and Review of Results

The Company’s revenue for the second quarter of 2026 was decreased by $9.6 million of non-cash stock-based sales incentive contra-revenue charges (“Amazon warrant charges”) related to the warrant issued to Amazon.com NV Investment Holdings LLC (the “Amazon warrant”), compared to Amazon warrant charges of $17.4 million in Q2 2025. Q2 2026 station construction revenues were $16.0 million versus $7.8 million of station construction revenues in Q2 2025. Revenue for Q2 2026 also included an unrealized loss of $0.2 million on commodity swap and customer fueling contracts relating to the Company’s Zero Now truck financing program, compared to an unrealized loss of $0.5 million in Q2 2025. Q2 2026 renewable identification number (“RIN”) and low carbon fuel standards (“LCFS”) revenues were $14.2 million versus $11.9 million of RIN and LCFS revenues in Q2 2025 reflecting (i) an increase in RIN revenue of $1.0 million primarily due to incremental RIN revenue generated by the Company’s consolidated dairy RNG production project (upstream business), higher price, and higher volume partially offset by a lower share of RIN values and (ii) an increase in LCFS revenue of $1.3 million primarily due to a higher share of LCFS values, higher low-CI volume, higher price, and incremental LCFS revenue generated by the Company’s consolidated dairy RNG production project (upstream business).

Net loss attributable to Clean Energy for Q2 2025 included higher non-cash stock-based sales incentive contra-revenue charges related to the Amazon warrant, and a loss from the Rimere equity method investment, which was disposed of in December 2025.

Non-GAAP income (loss) per share (as defined below) for Q2 2026 was ($0.01), compared to $0.00 per share for Q2 2025.

In this press release, Clean Energy refers to various GAAP (U.S. generally accepted accounting principles) and non-GAAP financial measures. The non-GAAP financial measures may not be comparable to similarly titled measures being used and disclosed by other companies. Clean Energy believes that this non-GAAP information is useful for an understanding of its operating results and the ongoing performance of its business. Non-GAAP income (loss) per share and Adjusted EBITDA are defined below and reconciled to GAAP net income (loss) per share attributable to Clean Energy and GAAP net income (loss) attributable to Clean Energy, respectively.

The table below shows GAAP and non-GAAP income (loss) attributable to Clean Energy per share and reconciles GAAP net income (loss) attributable to Clean Energy to the non-GAAP net income (loss) attributable to Clean Energy figure used in the calculation of non-GAAP income (loss) per share:

Three Months Ended

Six Months Ended

June 30,

June 30,

(in thousands, except share and per share data)

2025

2026

2025

2026

Net loss attributable to Clean Energy Fuels Corp.

$

(20,240

)

$

(14,853

)

$

(155,207

)

$

(27,265

)

Amazon warrant charges

17,396

9,612

34,734

19,719

Stock-based compensation expense

2,403

2,252

4,180

4,282

Amortization of investment tax credit from consolidated RNG project

—

(207

)

—

(439

)

Accelerated depreciation expense associated with station equipment removal

—

—

50,660

—

Loss from Rimere equity method investment

1,056

—

2,607

—

Loss (gain) from SAFE S.p.A. equity method investment

271

1,250

749

1,095

Loss (gain) from change in fair value of derivative instruments

545

249

1,101

(369

)

Impairment of goodwill

—

—

64,328

—

Holdback payment from prior year extinguishment of loan receivable and preferred stock equity security

—

—

—

(36

)

Amortization of investment tax credit from RNG equity method investments

(1,094

)

(514

)

(1,330

)

(797

)

Non-GAAP net income (loss) attributable to Clean Energy Fuels Corp.

$

337

$

(2,211

)

$

1,822

$

(3,810

)

Diluted weighted-average common shares outstanding

220,726,289

220,257,296

222,859,095

219,964,143

GAAP loss attributable to Clean Energy Fuels Corp. per share

$

(0.09

)

$

(0.07

)

$

(0.70

)

$

(0.12

)

Non-GAAP income (loss) attributable to Clean Energy Fuels Corp. per share

$

0.00

$

(0.01

)

$

0.01

$

(0.02

)

The table below shows Adjusted EBITDA and also reconciles this figure to GAAP net loss attributable to Clean Energy:

Three Months Ended

Six Months Ended

June 30,

June 30,

(in thousands)

2025

2026

2025

2026

Net loss attributable to Clean Energy Fuels Corp.

$

(20,240

)

$

(14,853

)

$

(155,207

)

$

(27,265

)

Income tax expense (benefit)

72

128

(2,860

)

146

Interest expense

7,735

5,505

15,263

11,206

Interest income

(3,088

)

(1,617

)

(5,987

)

(2,999

)

Depreciation and amortization

9,962

10,682

21,569

21,684

Accelerated depreciation expense associated with station equipment removal

—

—

50,660

—

Impairment of goodwill

—

—

64,328

—

Amazon warrant charges

17,396

9,612

34,734

19,719

Stock-based compensation expense

2,403

2,252

4,180

4,282

Amortization of investment tax credit from consolidated RNG project

—

(207

)

—

(439

)

Loss from Rimere equity method investment

1,056

—

2,607

—

Loss (gain) from SAFE S.p.A. equity method investment

271

1,250

749

1,095

Loss (gain) from change in fair value of derivative instruments

545

249

1,101

(369

)

Holdback payment from prior year extinguishment of loan receivable and preferred stock equity security

—

—

—

(36

)

Depreciation and amortization from RNG equity method investments

2,747

3,515

5,493

6,379

Interest expense from RNG equity method investments

216

197

429

393

Interest income from RNG equity method investments

(472

)

(196

)

(1,136

)

(428

)

Amortization of investment tax credit from RNG equity method investments

(1,094

)

(514

)

(1,330

)

(797

)

Adjusted EBITDA

$

17,509

$

16,002

$

34,593

$

32,571

The tables below present a further breakdown of the above consolidated Adjusted EBITDA:

Three Months Ended

Six Months Ended

June 30,

June 30,

(in thousands)

2025

2026

2025

2026

Net loss attributable to fuel distribution*

$

(15,030

)

$

(10,071

)

$

(144,962

)

$

(15,373

)

Income tax expense (benefit)

72

128

(2,860

)

146

Interest expense

7,735

5,505

15,263

11,206

Interest income

(3,088

)

(1,617

)

(5,987

)

(2,999

)

Depreciation and amortization from fuel distribution

9,962

9,341

21,569

18,360

Accelerated depreciation expense associated with station equipment removal

—

—

50,660

—

Impairment of goodwill

—

—

64,328

—

Amazon warrant charges

17,396

9,612

34,734

19,719

Stock-based compensation expense

2,403

2,252

4,180

4,282

Holdback payment from prior year extinguishment of loan receivable and preferred stock equity security

—

—

—

(36

)

Loss from Rimere equity method investment

1,056

—

2,607

—

Loss (gain) from SAFE S.p.A. equity method investment

271

1,250

749

1,095

Loss (gain) from change in fair value of derivative instruments

545

249

1,101

(369

)

Adjusted EBITDA attributable to fuel distribution

$

21,322

$

16,649

$

41,382

$

36,031

Three Months Ended

Six Months Ended

June 30,

June 30,

(in thousands)

2025

2026

2025

2026

Net loss from RNG upstream attributable to Clean Energy Fuels Corp.*

$

(5,210

)

$

(4,782

)

$

(10,245

)

$

(11,892

)

Depreciation and amortization from RNG upstream

2,747

4,856

5,493

9,703

Interest expense from RNG upstream

216

197

429

393

Interest income from RNG upstream

(472

)

(196

)

(1,136

)

(428

)

Amortization of investment tax credit from RNG upstream

(1,094

)

(722

)

(1,330

)

(1,236

)

Adjusted EBITDA of RNG upstream attributable to Clean Energy Fuels Corp.

$

(3,813

)

$

(647

)

$

(6,789

)

$

(3,460

)

Fuel Volume

The following table presents, for the three and six months ended June 30, 2025 and 2026, the amount of total fuel volume the Company sold to customers, with particular focus on RNG volume as a subset of total fuel volume.

Three Months Ended

Six Months Ended

Fuel volume, GGEs(1) sold (in millions),

June 30,

June 30,

correlating to total volume-related product revenue

2025

2026

2025

2026

RNG

61.4

63.2

112.0

130.6

Conventional natural gas

14.9

18.6

31.0

35.9

Total fuel volume

76.3

81.8

143.0

166.5

The following table shows the Company’s sources of revenue for the three and six months ended June 30, 2025 and 2026:

Three Months Ended

Six Months Ended

June 30,

June 30,

Revenue (in millions)

2025

2026

2025

2026

Product revenue:

Volume-related (1)

Fuel sales(2)

$

67.9

$

61.1

$

144.2

$

140.7

Change in fair value of derivative instruments(3)

(0.5

)

(0.2

)

(1.1

)

0.4

RIN Credits(4)

9.2

10.3

14.4

20.3

LCFS Credits(5)

2.7

3.9

6.5

8.3

Total volume-related product revenue

79.3

75.1

164.0

169.7

Station construction sales

7.8

16.0

13.4

24.3

Total product revenue

87.1

91.1

177.4

194.0

Service revenue:

O&M services (2) (6)

14.9

14.8

27.7

29.0

Other services

0.6

0.5

1.3

0.9

Total service revenue

15.5

15.3

29.0

29.9

Total revenue

$

102.6

$

106.4

$

206.4

$

223.9

____________________ (1)

The Company’s volume-related product revenue primarily consists of sales of RNG and conventional natural gas, in the form of CNG and LNG, and sales of RINs and LCFS Credits in addition to changes in fair value of our derivative instruments.

(2)

Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon warrant. For the three and six months ended June 30, 2025, contra-revenue charges recognized in fuel sales revenue were $17.4 million and $34.7 million, respectively. For the three and six months ended June 30, 2026, contra-revenue charges recognized in fuel sales were $6.5 million and $14.0 million, respectively, and contra-revenue charges recognized in O&M services revenue for the three and six months ended June 30, 2026, were $3.1 million and $5.7 million, respectively, for a total for the three and six months ended June 30, 2026 of $9.6 million and $19.7 million, respectively, of contra-revenue charges.

(3)

The change in fair value of unsettled derivative instruments is related to the Company’s commodity swap and customer fueling contracts. The amounts are classified as revenue because the Company’s commodity swap contracts are used to economically offset the risk associated with the diesel-to-natural gas price spread resulting from customer fueling contracts under the Company’s truck financing program.

(4)

RIN Credits includes $1.3 million and $2.0 million for the three and six months ended June 30, 2026, related to the Company’s consolidated RNG project.

(5)

LCFS Credits includes $0.3 million and $0.8 million for the three and six months ended June 30, 2026, related to the Company’s consolidated RNG project

(6)

O&M services revenue includes revenues earned from providing operating and maintenance services on natural gas fueling stations owned by our customers for fixed fees or per gallon fees based on the volume of fuel dispensed at the customer station. If we provide the fuel in addition to the O&M services, we include the revenues associated with providing the fuel in volume-related product revenue.

2026 Outlook

Our GAAP net loss for 2026 is expected to range from approximately $(71) million to $(66) million, assuming no unrealized gains or losses on customer contracts relating to the Company’s truck financing program and Amazon warrant charges estimated to be approximately $47 million. Changes in diesel and natural gas market conditions resulting in unrealized gains or losses on the Company’s customer fueling contracts relating to the Company’s truck financing program, and significant variations in the vesting of the Amazon warrant could significantly affect the Company’s estimated GAAP net loss for 2026. Adjusted EBITDA for 2026 is estimated to range from approximately $70 million to $75 million. These expectations exclude the impact of any acquisitions, divestitures, new joint ventures, transactions and other extraordinary events; and macroeconomic conditions and global supply chain issues. Additionally, the expectations regarding 2026 Adjusted EBITDA assume the calculation of this non-GAAP financial measure in the same manner as described above and adding back the estimated Amazon warrant charges described above and without adjustments for any other items that may arise during 2026 that management deems appropriate to exclude. These expectations are forward-looking statements and are qualified by the statement under “Safe Harbor Statement” below.

(in thousands)

2026 Outlook

Net loss attributable to Clean Energy Fuels Corp.

$

(71,000) - (66,000

)

Income tax benefit

600

Interest expense

24,500

Interest income

(4,800

)

Depreciation and amortization

49,000

Stock-based compensation

11,000

Loss from SAFE S.p.A. equity method investment

2,000

Loss from change in fair value of derivative instruments

-

Amazon warrant charges

47,000

Amortization of investment tax credit from consolidated RNG project

(900

)

Depreciation and amortization from RNG equity method investments

14,500

Interest expense from RNG equity method investments

500

Interest income from RNG equity method investments

(300

)

Amortization of investment tax credit from RNG equity method investments

(2,100

)

Adjusted EBITDA

$

70,000 - 75,000

The tables below present a further breakdown of the above consolidated Adjusted EBITDA:

(in thousands)

2026 Outlook

Net loss attributable to fuel distribution*

$

(54,300) - (51,400

)

Income tax benefit

600

Interest expense

24,500

Interest income

(4,800

)

Depreciation and amortization from fuel distribution

41,000

Stock-based compensation

11,000

Loss from SAFE S.p.A. equity method investment

2,000

Loss from change in fair value of derivative instruments

-

Amazon warrant charges

47,000

Adjusted EBITDA attributable to fuel distribution

$

67,000 - 69,900

(in thousands)

2026 Outlook

Net loss attributable to RNG upstream*

$

(16,700) - (14,600

)

Depreciation and amortization from RNG upstream

22,500

Interest expense from RNG upstream

500

Interest income from RNG upstream

(300

)

Amortization of investment tax credit from RNG upstream

(3,000

)

Adjusted EBITDA attributable to RNG upstream

$

3,000 - 5,100

Today’s Conference Call

The Company will host an investor conference call today at 4:30 p.m. Eastern time (1:30 p.m. Pacific). Investors interested in participating in the live call can dial 1.800.343.4136 from the U.S. (Conference ID: CLEAN) and international callers can dial 1.203.518.9843 (Conference ID: CLEAN). A telephone replay will be available approximately three hours after the call concludes through Thursday, August 20, 2026, by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 11162192. There also will be a simultaneous, live webcast available on the Investor Relations section of the Company’s website at www.cleanenergyfuels.com, which will be available for replay for 30 days.

About Clean Energy Fuels Corp.

Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (“RNG”), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on X (formerly known as Twitter).

Non-GAAP Financial Measures

To supplement the Company’s unaudited condensed consolidated financial statements presented in accordance with GAAP, the Company uses non-GAAP financial measures that it calls non-GAAP income (loss) per share (“non-GAAP income (loss) per share”) and adjusted EBITDA (“Adjusted EBITDA”). Management presents non-GAAP income (loss) per share and Adjusted EBITDA because it believes these measures provide meaningful supplemental information about the Company’s performance for the following reasons: (1) they allow for greater transparency with respect to key metrics used by management to assess the Company’s operating performance and make financial and operational decisions; (2) they exclude the effect of items that management believes are not directly attributable to the Company’s core operating performance and may obscure trends in the business; and (3) they are used by institutional investors and the analyst community to help analyze the Company’s business. In future quarters, the Company may adjust for other expenditures, charges or gains to present non-GAAP financial measures that the Company’s management believes are indicative of the Company’s core operating performance.

Non-GAAP financial measures are limited as an analytical tool and should not be considered in isolation from, or as a substitute for, the Company’s GAAP results. The Company expects to continue reporting non-GAAP financial measures, adjusting for the items described below (and/or other items that may arise in the future as the Company’s management deems appropriate), and the Company expects to continue to incur expenses, charges or gains like the non-GAAP adjustments described below. Accordingly, unless expressly stated otherwise, the exclusion of these and other similar items in the presentation of non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent, or non-recurring. Non-GAAP income (loss) per share and Adjusted EBITDA are not recognized terms under GAAP and do not purport to be an alternative to GAAP income (loss), GAAP income (loss) per share or any other GAAP measure as an indicator of operating performance. Moreover, because not all companies use identical measures and calculations, the Company’s presentation of non-GAAP income (loss) per share and Adjusted EBITDA may not be comparable to other similarly titled measures used by other companies.

Non-GAAP Income (Loss) Per Share

Non-GAAP income (loss) per share, which the Company presents as a non-GAAP measure of its performance, is defined as net income (loss) attributable to Clean Energy Fuels Corp., plus Amazon warrant charges, plus stock-based compensation expense, plus the accelerated depreciation expense from the abandonment of certain LNG station assets located at 55 Pilot Flying J locations, plus (minus) loss (income) from Rimere equity method investment, plus (minus) loss (income) from the SAFE S.p.A. equity method investment, plus (minus) any loss (gain) from changes in the fair value of derivative instruments, plus one-off, non-cash charge to Goodwill, (minus) gain on extinguishment of loan receivable and equity security and minus amortization of investment tax credit from RNG equity method investments, the total of which is divided by the Company’s weighted-average common shares outstanding on a diluted basis. The Company’s management believes excluding non-cash expenses related to the Amazon warrant charges provides useful information to investors regarding the Company’s performance because the Amazon warrant charges are measured based upon a fair value determined using a variety of assumptions and estimates, and the Amazon warrant charges do not affect the Company’s operating cash flows related to the delivery and sale of vehicle fuel to its customer. The Company’s management believes excluding non-cash expenses related to stock-based compensation provides useful information to investors regarding the Company’s performance because of the varying available valuation methodologies, the volatility of the expense (which depends on market forces outside of management’s control), the subjectivity of the assumptions and the variety of award types that a company can use, which may obscure trends in a company’s core operating performance. In addition, the Company’s management believes excluding the results from the Rimere equity method investment is useful to investors because Rimere is an investment belonging to the non-core operations of the Company, and its results are not indicative of the Company’s ongoing operations. Similarly, the Company’s management believes excluding the non-cash results from the SAFE S.p.A. equity method investment is useful to investors because these charges are not part of or representative of the core operations of the Company. In addition, the Company’s management believes excluding the non-cash loss (gain) from changes in the fair value of derivative instruments is useful to investors because the valuation of the derivative instruments is based on a number of subjective assumptions, the amount of the loss or gain is derived from market forces outside of management’s control, and the exclusion of these amounts enables investors to compare the Company’s performance with other companies that do not use, or use different forms of, derivative instruments. Furthermore, the Company’s management believes excluding other income relating to the amortization of investment tax credit from RNG equity method investments is useful to investors because such income is not generated from the core operations of the Company and may obscure trends of the Company’s core operations.

Adjusted EBITDA

Adjusted EBITDA, which the Company presents as a non-GAAP measure of its performance, is defined as net income (loss) attributable to Clean Energy Fuels Corp plus (minus) income tax expense (benefit), plus interest expense (including any losses from the extinguishment of debt), minus interest income, plus depreciation and amortization expense, plus the accelerated depreciation expense from the abandonment of certain LNG station assets located at 55 Pilot Flying J locations, plus one-off, non-cash charge to Goodwill, minus gain on extinguishment of loan receivable and equity security, plus Amazon warrant charges, plus stock-based compensation expense, plus (minus) loss (income) from the Rimere equity method investment, plus (minus) loss (income) from the SAFE S.p.A. equity method investment, plus (minus) any loss (gain) from changes in the fair value of derivative instruments, plus depreciation and amortization expense from RNG equity method investments, plus interest expense from RNG equity method investments, minus interest income from RNG equity method investments, and minus amortization of investment tax credit from RNG equity method investments and the Company’s consolidated RNG project. The Company’s management believes Adjusted EBITDA provides useful information to investors regarding the Company’s performance for the same reasons discussed above with respect to non-GAAP income (loss) per share. In addition, management internally uses Adjusted EBITDA to determine elements of executive and employee compensation.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about, among other things, our fiscal 2026 outlook, our volume growth, customer expansion, network expansion, production sources, joint ventures, governmental regulations, vehicle adoption, and the benefits of our fuels.

Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the Company’s future performance, and are based on the Company’s current assumptions, expectations and beliefs concerning future developments and their potential effect on the Company and its business. As a result, actual results, performance or achievements and the timing of events could differ materially from those anticipated in or implied by these forward-looking statements as a result of many factors including, among others: the willingness of fleets and other consumers to adopt natural gas as a vehicle fuel, and the rate and level of any such adoption; the market’s perception of the benefits of RNG and conventional natural gas relative to other alternative vehicle fuels; natural gas vehicle and engine cost, fuel usage, availability, quality, safety, convenience, design, performance and residual value, as well as operator perception with respect to these factors, in general and in the Company’s key customer markets, including heavy-duty trucking; the Company’s ability to further develop and manage its RNG business, including its ability to procure adequate supplies of RNG and generate revenues from sales of such RNG; the Company and its suppliers’ ability to successfully develop and operate projects and produce expected volumes of RNG; the impact of a bankruptcy or failure of any source owners at our projects; the Company’s dependence on the production of vehicles and engines by manufacturers over which the Company has no control; the long and variable development cycle required to secure ADG RNG from new projects; the potential commercial viability, solvency, financial capacity, and operational capability of livestock waste and dairy farm projects to produce RNG; the Company’s history of net losses and the possibility that the Company could incur additional net losses in the future; the Company’s and its partners’ ability to acquire, finance, construct and develop other commercial projects; the Company’s ability to invest in hydrogen stations or modify its fueling stations to reform its RNG to fuel hydrogen and charge electric vehicles; the future supply, demand, use and prices of crude oil, gasoline, diesel, natural gas, and other vehicle fuels, including overall levels of and volatility in these factors; changes in the competitive environment in which we operate, including potentially increasing competition in the market for vehicle fuels generally; the Company’s ability to manage and increase its business of transporting and selling CNG for non-vehicle purposes via virtual natural gas pipelines and interconnects, as well as its station design and construction activities; construction, permitting and other factors that could cause delays or other problems at station construction projects; the Company’s ability to procure and maintain contracts with government entities; the Company’s ability to execute and realize the intended benefits of any acquisitions, divestitures, investments or other strategic relationships or transactions; significant fluctuations in the Company’s results of operations, which make it difficult to predict future results of operations; the Company’s warranty reserves may not adequately cover its warranty obligations; a future pandemic, epidemic or other infectious disease outbreak; the future availability of and the Company’s access to additional capital, which may include debt or equity financing, in the amounts and at the times needed to fund growth in the Company’s business and the repayment of its debt obligations (whether at or before their due dates) or other expenditures, as well as the terms and other effects of any such capital raising transaction; the Company’s ability to generate sufficient cash flows to repay its debt obligations as they come due; the availability of environmental, tax and other government legislation, regulations, programs and incentives that promote natural gas, such as AFTC, or other alternatives as a vehicle fuel, including long-standing support for gasoline- and diesel-powered vehicles and growing support for electric and hydrogen-powered vehicles that could result in programs or incentives that favor these or other vehicles or vehicle fuels over natural gas; the Company’s ability to comply with various registration and regulatory requirements related to its RNG projects; the effect of, or potential for changes to greenhouse gas emissions requirements or other environmental regulations applicable to vehicles powered by gasoline, diesel, natural gas or other vehicle fuels and crude oil and natural gas fueling, drilling, production, transportation or use; the Company’s ability to manage the health, safety and environmental risks inherent in its operations; the Company’s compliance with all applicable government and environmental regulations; the impact of the foregoing on the trading price of the Company’s common stock; the interests of the Company’s significant stockholders may differ from the Company’s other stockholders; the Company’s ability to protect against any material failure, inadequacy, interruption or security failure of its information technology; the Company’s recent leadership transition; and general political, regulatory, economic and market conditions.

The forward-looking statements made in this press release speak only as of the date of this press release and the Company undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. The Company’s periodic reports filed with the Securities and Exchange Commission (www.sec.gov), including its Annual Report on Form 10-K for the year ended December 31, 2025 that the Company filed with the Securities and Exchange Commission on February 24, 2026, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 that the Company filed with the Securities and Exchange Commission on May 7, 2026, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 that the Company expects to file with the Securities and Exchange Commission on or about August 6, 2026, contain additional information about these and other risk factors that may cause actual results to differ materially from the forward-looking statements contained in this press release, and such risk factors may be amended, supplemented or superseded from time to time by other reports the Company files with the Securities and Exchange Commission.

  Clean Energy Fuels Corp. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share and per share data; Unaudited)

December 31,

June 30,

2025

2026

Assets

Current assets:

Cash, cash equivalents and restricted cash

$

157,756

$

59,153

Short-term investments

552

80,997

Accounts receivable, net of allowance of $2,069 and $1,604 as of December 31, 2025 and June 30, 2026, respectively

100,793

91,798

Other receivables

6,193

10,195

Inventory

43,906

43,282

Notes receivable - related party

—

—

Prepaid expenses and other current assets

41,139

38,699

Total current assets

350,339

324,124

Operating lease right-of-use assets

87,922

83,281

Land, property and equipment, net

324,040

313,142

Notes receivable and other long-term assets, net

22,194

19,482

Investments in other entities

262,325

276,135

Goodwill

—

—

Intangible assets, net

9,896

9,646

Total assets

$

1,056,716

$

1,025,810

Liabilities and Stockholders' Equity

Current liabilities:

Current portion of debt

$

52

$

56

Current portion of finance lease obligations

1,303

1,192

Current portion of operating lease obligations

9,095

9,579

Accounts payable

26,176

21,148

Accrued liabilities

96,106

89,285

Deferred revenue

18,423

9,449

Total current liabilities

151,155

130,709

Long-term portion of debt

226,727

228,968

Long-term portion of finance lease obligations

2,531

1,849

Long-term portion of operating lease obligations

85,920

80,922

Other long-term liabilities

25,316

24,681

Total liabilities

491,649

467,129

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.0001 par value. 1,000,000 shares authorized; no shares issued and outstanding

—

—

Common stock, $0.0001 par value. 454,000,000 shares authorized; 219,331,992 shares and 220,358,166 shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively

22

22

Additional paid-in capital

1,796,957

1,820,002

Accumulated deficit

(1,234,566

)

(1,261,831

)

Accumulated other comprehensive loss

(2,992

)

(4,861

)

Total Clean Energy Fuels Corp. stockholders’ equity

559,421

553,332

Noncontrolling interest in subsidiary

5,646

5,349

Total stockholders’ equity

565,067

558,681

Total liabilities and stockholders’ equity

$

1,056,716

$

1,025,810

  Clean Energy Fuels Corp. and Subsidiaries

Condensed Consolidated Statements of Operations

(In thousands, except share and per share data; Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

2025

2026

2025

2026

Revenue:

Product revenue

$

87,112

$

91,146

$

177,402

$

194,019

Service revenue

15,501

15,213

28,975

29,896

Total revenue

102,613

106,359

206,377

223,915

Operating expenses:

Cost of sales (exclusive of depreciation and amortization shown separately below):

Product cost of sales

65,193

64,305

133,039

138,109

Service cost of sales

9,237

11,910

17,394

23,009

Selling, general and administrative

27,453

24,590

54,917

49,136

Depreciation and amortization

9,962

10,682

72,229

21,684

Impairment of goodwill

—

—

64,328

—

Total operating expenses

111,845

111,487

341,907

231,938

Operating loss

(9,232

)

(5,128

)

(135,530

)

(8,023

)

Interest expense

(7,735

)

(5,505

)

(15,263

)

(11,206

)

Interest income

3,088

1,617

5,987

2,999

Other income, net

73

296

81

639

Loss from equity method investments

(6,530

)

(6,187

)

(13,574

)

(11,825

)

Loss before income taxes

(20,336

)

(14,907

)

(158,299

)

(27,416

)

Income tax (expense) benefit

(72

)

(128

)

2,860

(146

)

Net loss

(20,408

)

(15,035

)

(155,439

)

(27,562

)

Loss attributable to noncontrolling interest

168

182

232

297

Net loss attributable to Clean Energy Fuels Corp.

$

(20,240

)

$

(14,853

)

$

(155,207

)

$

(27,265

)

Net loss attributable to Clean Energy Fuels Corp. per share:

Basic and diluted

$

(0.09

)

$

(0.07

)

$

(0.70

)

$

(0.12

)

Weighted-average common shares outstanding:

Basic and diluted

220,393,997

220,257,296

222,024,912

219,964,143

More News From Clean Energy Fuels Corp.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

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Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: RingCentral (RNG - Free Report) RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect. The company’s cloud-based business communications and collaboration solutions are designed to provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. This makes remote working and collaboration easy.

RNG is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 11.49; value investors should take notice.

For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $5.01 per share. RNG boasts an average earnings surprise of +3.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, RNG should be on investors' short list.

RUTLAND, Vt., July 28, 2026 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company in the Eastern United States, and Waga Energy (EPA: WAGA), a global expert in the production of Renewable Natural Gas (“RNG”) from landfills, announced the start of operations of the RNG production facility at the Hyland Landfill in Angelica, New York.

The facility coming online marks another important milestone in Casella's strategy to recover value from the waste it manages. Hyland is the second of three RNG projects developed by Casella and Waga Energy to enter operation, following the Chemung County facility.

“It is so gratifying for our team to see our fourth RNG project come online at the Hyland landfill,” said Ned Coletta, President and CEO of Casella Waste Systems, Inc. “Several years ago, we made the strategic decision to work with RNG experts to develop the capacity at our landfills, and we have not been disappointed about our decision to partner with Waga Energy. Their entire team has collaborated effectively with our team to bring these projects online within a tight timeline, and their innovative technology is performing well at each landfill.”

The facility uses Waga Energy's patented WAGABOX® technology to upgrade landfill gas into pipeline-quality RNG. With 3,000 SCFM of installed processing capacity, Hyland can generate up to 610,000 MMBtu (180 GWh) of renewable gas annually, making it one of the largest RNG production units in Waga Energy's U.S. portfolio.

“The commissioning of a large-capacity WAGABOX® unit at the Hyland facility demonstrates the scalability of our technology and its ability to produce RNG from landfill sites of various sizes,” said Guénaël Prince, Chief Executive Officer of Waga Energy Inc. “It is also the second project developed with Casella to enter operation this year, reflecting the strength of our partnership and our shared commitment to turning landfill gas into a reliable source of renewable energy."

The RNG produced on-site is injected directly into the Eastern Gas Transmission and Storage network, supplying the region with a renewable alternative to fossil natural gas. The project is expected to avoid 47,000 tons of CO₂-equivalent emissions each year, according to U.S. Environmental Protection Agency (EPA) standards1.

Under the terms of the agreement, Waga Energy deployed the capital required to fully fund the construction of the facility and will own and operate it for 20 years, while Casella and Waga Energy share the revenue generated from RNG sales.

The Hyland project is expected to qualify for incentives under the U.S. Inflation Reduction Act (IRA).

___________________________

1 Landfill Gas Energy Benefits Calculator | US EPA

About Casella Waste Systems, Inc.

Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the eastern United States. For more information, visit www.casella.com.

About Waga Energy

Waga Energy produces competitively priced Renewable Natural Gas (RNG, also known as biomethane) by upgrading landfill gas using a patented purification technology called WAGABOX®. The RNG produced is injected directly into the gas grids that supply individuals and businesses, providing a substitute for natural fossil gas. Waga Energy currently operates 36 RNG production units in France, Spain, Canada and the USA, representing an installed capacity of more than 6.5 million MMBtu (1.9 TWh) per year. To date, Waga Energy has 19 RNG production units under construction worldwide. Each project initiated by Waga Energy contributes to the fight against global warming and helps the energy transition. Waga Energy is listed on Euronext Paris (FR0012532810 – EPA: WAGA).

Safe Harbor Statement

Certain matters discussed in this press release, including but not limited to, the statements regarding our intentions, beliefs or current expectations concerning, among other things, projections as to the anticipated benefits of the commercial agreement, the anticipated amounts of renewable natural gas to be produced and the anticipated impact of the commercial agreement and the renewable natural gas facilities on the Company’s business and future financial and operating results are "forward-looking statements". These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” “will,” “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which the Company operates and management’s beliefs and assumptions. The Company cannot guarantee that it actually will achieve the financial results, plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of the Company’s operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements.

Such risks and uncertainties include or relate to, among other things, the following: project development timelines may extend past anticipated schedules; the Company may not fully recognize the expected financial benefits from the RNG facilities due to operational challenges, gas production levels, market or economic factors outside its control which may impact revenues and costs, or for other reasons; and potential regulatory changes could adversely impact operations.

There are a number of other important risks and uncertainties that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K for the fiscal year ended December 31, 2025, and in other filings that the Company may make with the Securities and Exchange Commission in the future.

The Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Contact Us
Casella Waste Systems, Inc.

Media Relations 
Jeff Weld
Vice President of Communications
(802) 772-2234Investor Relations 
Jason Mead
Senior Vice President of Finance and Treasurer
(802) 772-2293   Waga Energy

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c025f1e9-20ed-4f36-a11b-4b46203b3e69

Waga Energy RNG Facility at Casella's Hyland Landfill The Waga Energy Renewable Natural Gas Facility at Casella's Hyland Landfill in Angelica, NY

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: RingCentral (RNG - Free Report) RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect. The company’s cloud-based business communications and collaboration solutions are designed to provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. This makes remote working and collaboration easy.

RNG is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. RNG has a Growth Style Score of A, forecasting year-over-year earnings growth of 13.1% for the current fiscal year.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.02 to $4.93 per share. RNG also boasts an average earnings surprise of +3.7%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, RNG should be on investors' short list.

Posted by Defense World Staff on Jul 28th, 2026

Shares of RingCentral, Inc. (NYSE:RNG – Get Free Report) traded up 7% during trading on Monday after Mizuho raised their price target on the stock from $38.00 to $40.00. Mizuho currently has a neutral rating on the stock. RingCentral traded as high as $52.88 and last traded at $51.7020. 755,349 shares traded hands during trading, a decline of 64% from the average session volume of 2,107,862 shares. The stock had previously closed at $48.31.

RNG has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Oppenheimer reissued an “outperform” rating and set a $50.00 target price on shares of RingCentral in a report on Friday, May 8th. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Piper Sandler lifted their price target on RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.40.

Read Our Latest Analysis on RingCentral

Insider Activity at RingCentral In other RingCentral news, COO Kira Makagon sold 16,988 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total value of $51,346.35. Following the transaction, the director owned 29,372 shares in the company, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 38,628 shares of company stock worth $1,656,201 in the last 90 days. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows Several institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in RingCentral during the first quarter worth about $697,000. Robertson Stephens Wealth Management LLC boosted its holdings in RingCentral by 124.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after purchasing an additional 50,122 shares during the last quarter. LSV Asset Management grew its stake in shares of RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after buying an additional 1,686,900 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of RingCentral by 60.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 280,323 shares of the software maker’s stock valued at $8,096,000 after buying an additional 105,145 shares during the period. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of RingCentral by 11.4% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,456,270 shares of the software maker’s stock worth $42,057,000 after buying an additional 149,532 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

RingCentral Trading Up 11.4% The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 1.42 and a beta of 1.14. The stock’s fifty day moving average price is $40.68 and its 200-day moving average price is $37.02.

RingCentral (NYSE:RNG – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to analysts’ expectations of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.125 dividend. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. RingCentral’s dividend payout ratio is currently 24.00%.

About RingCentral (Get Free Report)

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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On July 24, 2026, RingCentral Inc RNG shares rose 25.1% to a current price of $48.31. This significant uptick comes amidst a 52-week trading range of $23.59 to $50.14.

GF Value™ verdict: The current price of $48.31 is 25.4% above the GF Value™ of $38.53, indicating that the stock is overvalued.GF Score™: RingCentral has a GF Score™ of 73/100, which is considered above average, suggesting it has potential for higher long-term returns.Insider activity: Insiders sold $3.1 million worth of stock in the last 3 months, without any buying activity. Is RNG Overvalued or Undervalued? The current price of RingCentral Inc RNG at $48.31 is significantly above the GF Value™ estimate of $38.53, which means the stock is currently 25.4% overvalued. This overvaluation presents a potential risk for current shareholders, as the price may need to adjust to align more closely with its intrinsic value. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

The GF Valuation label indicates that RingCentral is "Modestly Overvalued," suggesting that while the stock has seen substantial price growth recently, caution is warranted regarding its sustainability. Investors should consider whether the current price accurately reflects the company’s future growth potential and profitability.

How Does RNG's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 38.6x 57.5x Forward P/E 9.8x N/A Currently, RingCentral's P/E ratio (TTM) of 38.6x is 33% below its 5-year median P/E of 57.5x. Additionally, the forward P/E of 9.8x indicates a more favorable outlook for future earnings. This P/E analysis aligns with the GF Value™ verdict of the stock being overvalued, as the current valuation metrics suggest that while the stock price has increased, it may not be justified by its earnings potential.

What Does RNG's GF Score™ Tell Us? Metric Rating GF Score™ 73 Financial Strength 4/10 Profitability 4/10 Growth 6/10 Valuation 9/10 Momentum 9/10 The GF Score™ of 73/100 indicates that RingCentral is positioned above average in terms of overall performance potential. The strongest aspect of the score is its Valuation and Momentum ratings, both at 9/10, highlighting the company’s recent price movement and relative valuation compared to its own history. However, the weakest areas are Financial Strength and Profitability, both rated at 4/10, which may indicate underlying concerns about the sustainability of its financial health and profit margins moving forward.

What Are Insiders Doing with RNG Stock? In the last three months, insiders have sold $3.1 million in RingCentral shares, with no reported insider buying during this period. This selling activity may suggest that those with the most intimate knowledge of the company's operations are taking profits or expressing concerns about future performance. The lack of buying may also indicate that insiders do not see sufficient value at the current price levels, which could be a red flag for potential investors.

What This Means for Investors Based on the GF Value™ assessment, RingCentral Inc RNG is currently overvalued. With a significant premium over its intrinsic value, potential investors may want to exercise caution and look for more favorable entry points or evidence of sustainable growth before committing to the stock.

For the complete analysis, visit the RingCentral Inc RNG stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is RNG's GF Score™?

RingCentral has a GF Score™ of 73/100, indicating that it is positioned above average and has potential for higher long-term returns based on its fundamental aspects.

Is RNG overvalued or undervalued?

According to the GF Value™ assessment, RingCentral is overvalued, with its current price exceeding the intrinsic value estimate by 25.4%.

What is RNG's P/E ratio?

RingCentral's P/E (TTM) ratio is 38.6x, which is significantly below its 5-year median P/E of 57.5x, indicating that it may be trading at a more favorable valuation relative to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

34.26K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RNG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

RingCentral, Inc. (RNG) Q2 2026 Earnings Call July 23, 2026 5:00 PM EDT

Company Participants

Steven Horwitz - Vice President of Investor Relations
Vladimir Shmunis - Co-Founder, CEO & Executive Chairman
Kira Makagon - President & COO
Vaibhav Agarwal - Chief Financial Officer

Conference Call Participants

Elizabeth Elliott - Morgan Stanley, Research Division
Sitikantha Panigrahi - Mizuho Securities USA LLC, Research Division
Timothy Horan - Oppenheimer & Co. Inc., Research Division
Brian Peterson - Raymond James & Associates, Inc., Research Division
Andrew King - Rosenblatt Securities Inc., Research Division
James Fish - Piper Sandler & Co., Research Division

Presentation

Operator

Good day, and welcome to the RingCentral Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Steven Horwitz, Vice President of Investor Relations. Please go ahead.

Steven Horwitz
Vice President of Investor Relations

Thank you. Good afternoon, and welcome to RingCentral's Second Quarter 2026 Conference Call. Joining me today are Vlad Shmunis, Founder, Chairman and CEO; Kira Makagon, President and COO; and Vaibhav Agarwal, CFO.

Our remarks today include forward-looking statements regarding the company's business operations, financial performance and outlook. These statements are subject to risks and uncertainties, some of which are beyond our control and are not guarantees of future performance. Actual results may differ materially from our forward-looking statements, and we undertake no obligation to update these statements after this call.

If the call is replayed after today, the information presented may not contain current or accurate information. For a complete discussion of risks and uncertainties related to our business, please refer to the information contained in our filings with the Securities and Exchange Commission as well as today's earnings release.

Unless otherwise indicated, all measures that follow are non-GAAP with year-over-year comparisons. A reconciliation of all GAAP to non-GAAP

RingCentral (RNG - Free Report) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.27%. A quarter ago, it was expected that this cloud-based phone system provider for small businesses would post earnings of $1.17 per share when it actually produced earnings of $1.2, delivering a surprise of +2.56%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

RingCentral, which belongs to the Zacks Internet - Software and Services industry, posted revenues of $657.01 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.03%. This compares to year-ago revenues of $620.4 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

RingCentral shares have added about 30.4% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for RingCentral?While RingCentral has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for RingCentral was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.25 on $662.96 million in revenues for the coming quarter and $4.91 on $2.63 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software and Services is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Sabre (SABR - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This provider of technology services to the travel industry is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -200%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Sabre's revenues are expected to be $695.43 million, up 1.2% from the year-ago quarter.

BELMONT, Calif.--(BUSINESS WIRE)---- $RNG #AI--RingCentral today announced financial results for the second quarter ended June 30, 2026.

BELMONT, Calif.--(BUSINESS WIRE)---- $rng #agenticvoiceAI--RingCentral will report financial results for the second quarter ended June 30, 2026 after market close on July 23, 2026.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: RingCentral (RNG - Free Report) RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect. The company’s cloud-based business communications and collaboration solutions are designed to provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. This makes remote working and collaboration easy.

RNG is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. RNG has a Growth Style Score of A, forecasting year-over-year earnings growth of 12.6% for the current fiscal year.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.02 to $4.91 per share. RNG boasts an average earnings surprise of +3.7%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, RNG should be on investors' short list.

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Oregon’s oldest utility continues to increase the percentage of RNG delivered to customers

PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural, Oregon’s largest gas utility company and one of the state’s oldest businesses, recently filed its annual renewable natural gas report with the Oregon Public Utilities Commission. As part of the filing, NW Natural disclosed its 2025 renewable natural gas (RNG) purchase amount of 3.35%, marking a significant increase over 2024 volumes. The company has since secured contracts for 4% RNG in 2026 and is looking to increase its RNG percentage again in 2027.

“RNG can and will be a big part of emissions reductions efforts in Oregon,” said Chris Kroeker of NW Natural. “Even with the end of some projects, we have been able to increase our RNG volumes again this year while keeping an eye on affordability. We’re especially pleased about our first volumes purchased from an Oregon producer this year.”

NW Natural’s RNG contract volumes as a percentage of its natural gas delivery to customers is among the highest such reported levels in the U.S. As a comparison, 4% is also about the same percentage of total solar energy delivered to the Oregon electric grid in 2026 after decades of electric sector investments.

About NW Natural

NW Natural is a local distribution company that currently provides natural gas service to approximately 2 million people in more than 140 communities through more than 810,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 21 Bcf of underground gas storage capacity in Oregon. NW Natural, a part of Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and has been doing business for over 167 years. NW Holdings owns NW Natural, SiEnergy Operating, LLC (SiEnergy), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests. We have a longstanding commitment to safety, environmental stewardship, and taking care of our employees and communities. Learn more in our latest Community & Sustainability Report.

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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +24% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: RingCentral (RNG - Free Report) RingCentral is a leading provider of contact center software-as-a-service (SaaS) solutions, along with global enterprise cloud communications, video meetings, collaboration, and customer engagement solutions that enable businesses to communicate, collaborate, and connect. The company’s cloud-based business communications and collaboration solutions are designed to provide a single user identity across multiple locations and devices, including smartphones, tablets, PCs and desk phones. This makes remote working and collaboration easy.

RNG is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 7.3; value investors should take notice.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.08 to $4.91 per share. RNG also boasts an average earnings surprise of +3.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, RNG should be on investors' short list.

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Native AI agents added to RingCX workflows giving businesses automated outreach, intelligent handoffs, and more

LAS VEGAS--(BUSINESS WIRE)--RingCentral, Inc. (NYSE: RNG) today announced the expansion of AIR Pro™ to deliver agentic AI capabilities across the RingCentral customer engagement portfolio. The expansion includes new capabilities within RingCX™ that help businesses with end-to-end customer resolution, automated outreach, and intelligent hand-offs. These enhancements also strengthen how customer context is captured and carried within RingCX. When a conversation transfers to a live agent, that agent has a more complete picture, including prior interactions, data from connected systems via APIs, and relevant recordings — without having to ask the customer to repeat themselves. The context layer continuously informs itself, getting smarter with every interaction.

“RingCentral offers the broadest range of customer engagement solutions that address both informal and formal contact center requirements. Our announcement today is about expanding AIR Pro and adding key updates to RingCX as we make progress toward our vision of AI agents and humans working together,” said Jim Dvorkin, SVP of Customer Experience Products at RingCentral. “Our innovations for RingCX continue to be well received by our customers. The addition of native AI agents, along with autonomous outreach, intelligent handoffs, and our AI powered workflow builder for RingCX helps businesses improve customer experiences and achieve measurable results.”

Where Humans and AI Agents Work Together

Highlighted at Customer Contact Week (CCW) Las Vegas 2026, RingCentral rolled out the following updates:

Native AI Agents: Embedded directly into RingCX workflows, native AI agents help with inbound and outbound interactions across voice and digital channels. For example, a business can run multi-step workflows from start to finish, such as confirm an appointment, handle verification, and update a record all within a single call. Autonomous Outreach: Leverage AI agents to proactively initiate conversation outreach triggered by real-time events: appointment reminders, payment notifications, service updates. For example, a credit card payment is missed. AIR Pro calls the customer, confirms the outstanding balance, offers payment options, and processes the payment over the phone. Intelligent Handoffs: When a conversation requires human judgment or empathy, AI agents in RingCX can transfer seamlessly to live agents, carrying full customer history and CRM data so the conversation continues without interruption, repetition, or lost context. AI-powered Workflow Builder: A natural language interface for building RingCX workflows on-demand, customers are able to prompt commands through RingCX’s AI Virtual Assistant (AVA) describing what they need, and it creates a workflow automatically — no coding, no technical resources required. AI-powered RingCX Analytics: Enables business and contact center leaders to prompt questions through RingCentral’s AI Virtual Assistant (AVA) within the RingCX interface to retrieve answers and specific metrics. For example, a newly hired supervisor can ask, "What report should I use to see an agent’s attendance and performance?" and AVA surfaces the answer instantly. New WEM Capabilities

RingCentral’s native WEM solution, called RingWEM, brings together AI Quality Management, AI Interaction Analytics, and AI Workforce Management embedded directly into RingCX – helping businesses reduce average call handle times, and improve customer satisfaction without a fragmented toolset that has long held back contact center performance. New RingWEM capabilities include:

RingWEM with Live Screen Monitoring: This gives supervisors visibility into how agents handle customer interactions, with the ability to whisper, coach, or step in without disrupting the customer experience. For example, it gives supervisors visibility during the call, seeing the agent’s screen in real time, and watching how agents address a problem, while giving coaching suggestions when the conversation is still live. Added Digital Channels

RingCX supports more than 20 digital channels, along with inbound and outbound voice allowing agents to manage various customer interactions from a single, unified interface. RingCX goes beyond the standard support for WhatsApp Messaging, and now includes WhatsApp Voice support.

WhatsApp Voice Support: With WhatsApp Voice in RingCX, customers can move from a messaging conversation to voice without leaving WhatsApp. The agent picks up the call with a complete view of the customer journey, including a summary of each interaction. “As a RingCX and AIR Pro customer, we're expanding our use of AI to drive a consistent customer experience while also enabling more automated AI and human interactions,” said Jaimie Bell, VP of Client Solutions at Office Gurus. “The expansion of AI Agents in RingCX, powered by AIR Pro, is really exciting. We're looking forward to it giving us more control and visibility into deploying AI agents at scale without sacrificing the quality our customers expect. We're early in implementation, and already seeing how AI agents will help us move faster, reduce manual overhead, and deliver a more seamless customer experience.”

RingCX Momentum

As of the end of Q1 2026, more than 1,700 businesses have adopted RingCX, up over 70% year-over-year – with more than half of them utilizing AI.

RingCX customers are achieving measurable results across industries. For example, in healthcare, Sun River Health achieved a 95% first-call resolution rate — 25% above industry standard. In entertainment, The Escape Game reduced costs by 50% while increasing bookings by 7%, and the San Diego Symphony cut box office hold times by 95%.

“The industry is moving beyond AI assistants towards increasingly autonomous AI agents that can participate in customer journeys alongside human workers,” said Hayley Sutherland, Conversational AI Analyst at IDC. “Organizations will need a common framework for managing performance, quality, analytics, and governance across both — and having that native to the contact center platform is the right approach. RingCentral's direction reflects its commitment to both supporting its customers with the capabilities needed today, and taking them where the market is headed.”

Pricing & Availability

Native AI Agents in RingCX and Automated Outreach will be available on a consumption basis, aligned with AIR Pro pricing. RingWEM with Live Screen Monitoring — will be priced on a seat basis or included in the RingCX Ultimate tier. New RingCX capabilities are currently in beta with general availability in 2H 2026. AI-powered RingCX Analytics and RingWEM with Live Screen Monitoring will be available in Q3.

For additional details or demo requests, visit the RingCentral booth #411 at CCW Las Vegas, or click here.

Join the RingCentral “CCW Special Edition” of AI Real Talk—Live or on-demand Elevate Every Customer Experience: Keeping Humans in the Loop While Scaling AI June 23 | 10:00 AM PT / 1:00 PM ET

About RingCentral

RingCentral is a global leader in AI–powered customer engagement, delivering an integrated platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging. Powered by advanced AI capabilities, RingCentral delivers intelligence at every phase of the conversation journey — before, during, and after each human interaction. With RingCentral, businesses can work smarter, respond faster, and connect more meaningfully with their customers. Visit ringcentral.com to learn more.

©2026 RingCentral, Inc. All rights reserved. RingCentral, RingCX, RingCentral AIR Pro, and the RingCentral logo are trademarks of RingCentral, Inc.

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Key Takeaways RNG beat Q1 estimates as subscription revenue rose 5.6% and ARR increased 7% year over year. RingCentral said its AI product ARR doubled year over year and exceeded 10% of total ARR. RNG raised full-year 2026 guidance, projecting up to $2.64B in revenue and EPS of $5.01. RingCentral (RNG - Free Report) posted first-quarter 2026 non-GAAP earnings of $1.20 per share, which beat the Zacks Consensus Estimate by 2.56% and rose 20% year over year.

Revenues of $644 million surpassed the Zacks Consensus Estimate by 0.22% and increased 5.3% from the year-ago quarter. The quarter reflected steady subscription momentum and improving profitability.

RNG ended the period with a total ARR of $2.707 billion, up 7% year over year, as demand for its AI-powered customer engagement offerings continued to expand.

RNG’s Quarterly DetailsSubscription revenue, representing 97% of total revenue, increased 5.6% year over year to $623.17 million. The performance suggests ongoing traction across the company’s core unified communications offerings, supported by continued customer demand for cloud-based communication tools.

Other revenue was $21.03 million (3.3% of total revenue), which decreased 4.2% from the year-ago quarter. While smaller in overall contribution, the decline indicates that growth remains concentrated in recurring subscriptions, keeping the company’s revenue base anchored in predictable, contract-driven streams.

RingCentral Leans on AI Products and Bundled DemandManagement emphasized progress in AI-driven customer engagement, noting that ARR from customers using at least one paid AI product is now more than 10% of total ARR and doubled year over year. The commentary underscores the company’s effort to move beyond legacy UCaaS into a broader AI-powered platform spanning voice, messaging, and contact center workflows.

Product momentum was supported by multiple launches and enhancements, including RingCentral AIR Pro and expanded AIR functionality across SMS and call queues. The company also highlighted continued traction in its Customer Engagement Bundle, positioning it as a key pillar designed to meet demand for lighter-weight contact center capabilities among RingEX customers.

RingCentral’s Operating DetailsFirst-quarter 2026 non-GAAP gross margin expanded 70 bps from the prior-year quarter to 77.7%.

On a non-GAAP basis, research and development expenses increased 7.3% year over year to $66.2 million. Sales and marketing expenses increased 4.9% year over year to $244.7 million. General and administrative expenses decreased 1.1% year over year to $42.2 million in the reported quarter.

Non-GAAP operating margin improved to 22.9%, expanding 110 basis points from the prior-year quarter. The outcome points to operating leverage, as growth in high-margin subscription revenue and tighter spending supported profitability.

The non-GAAP EBITDA margin was 26.3%, expanding 100 bps year over year.

RNG’s Balance Sheet & Cash Flow DetailsAs of March 31, 2026, cash and cash equivalents were $116.58 million compared with $132.5 million as of Dec. 31, 2025.

Net cash provided by operating activities was $164.05 million. Free cash flow came in at $140.65 million. The non-GAAP cash flow margin was 21.8% in the first quarter.

Shareholder returns remained a priority, highlighted by $81.33 million of common stock repurchases during the quarter. The company also paid $6.41 million in dividends and noted it has no debt maturities until 2030 following the repayment of its 2026 convertible notes at maturity.

RNG’s Q2 and Full-Year 2026 OutlookFor the second quarter of 2026, RNG expects total revenues between $648 million and $653 million and subscription revenues in the range of $628 million to $633 million. The company expects non-GAAP EPS of $1.15 to $1.17 and forecasts a non-GAAP operating margin of 23% to 23.2%, signaling continued focus on profitability.

For 2026, RingCentral raised its outlook, projecting total revenues of $2.62 billion to $2.64 billion and subscription revenues of $2.54 billion to $2.56 billion. Non-GAAP EPS is expected to be in the range of $4.85 to $5.01, while free cash flow is anticipated to be between $590 million and $605 million, reflecting management’s confidence in sustained execution and cash generation.

RNG’s Zacks Rank & Stocks to ConsiderRingCentral currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Computer and Technology sector include Analog Devices (ADI - Free Report) , Applied Materials (AMAT - Free Report) , and Audioeye (AEYE - Free Report) . Each stock currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Analog Devices have gained 50.7% in the year-to-date period. Analog Devices is set to report the second quarter of fiscal 2026 results on May 20.

Applied Materials shares have gained 59.8% in the year-to-date period. Applied Materials is scheduled to report its second-quarter 2026 results on May 14.

Audioeye shares have lost 19% in the year-to-date period. Audioeye is set to report its first-quarter 2026 results on May 13.

RingCentral is capitalizing on AI-driven contact center solutions, shifting its narrative from legacy provider to applied AI leader. RNG's new AI products are driving strong attach rates and accelerating growth, with Q1 revenue up 5.2% y/y and margin expansion. Recent partnerships with Cox Business and Spectrum Business, plus robust R&D, are expanding RNG's TAM to $150 billion and fueling product innovation.

RingCentral is leveraging AI innovations to drive customer engagement, product adoption, and higher ARPU, supporting robust growth prospects. RNG raised 2026 revenue guidance to $2.62–$2.64B and EPS to $4.85–$5.01, reflecting strong Q1 results and margin expansion. Valuation remains compelling at 8.5x 2026E EPS and 1.43x forward sales, significantly below sector medians, with profitability and margin gains fueling the upside.