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8x8, Inc. Reports Third Quarter Fiscal 2019 Financial Results


Service revenue increased 20% year-over-year to $86 million

Service revenue, adjusting for constant currency and excluding DXI revenue, increased 22% year-over-year


SAN JOSE, CA. - January 29, 2019 - 8x8, Inc. (NYSE:EGHT), a leading cloud provider of voice, video, collaboration and contact center solutions for over one million users worldwide, today reported financial results for the
third quarter of fiscal 2019 ended December 31, 2018.

Third Quarter Fiscal 2019 Financial Results:

Service revenue increased 20% year-over-year to $85.9 million. Adjusting for constant currency and excluding DXI revenue, service revenue increased 22% year-over-year.
Service revenue from mid-market and enterprise customers billing greater than $1,000 in monthly recurring revenue (MRR), adjusting for constant currency and excluding DXI revenue, increased approximately 30% year-over-year and represents 62% of monthly recurring revenue (MRR).
Service revenue from mid-market and enterprise customers billing greater than $10,000 in monthly recurring revenue (MRR), adjusting for constant currency and excluding DXI revenue, increased approximately 61% year-over-year and represents 29% of monthly recurring revenue (MRR).
Total revenue increased 19% year-over-year to $89.9 million. Adjusting for constant currency and excluding DXI revenue, total revenue increased 21% year-over-year.
GAAP net loss was $23.8 million or $(0.25) per diluted share, including a $1.5 million charge associated with U.S. sales and use taxes.
Non-GAAP net loss was $5.5 million or $(0.06) per diluted share.

"We delivered a solid quarter of overall growth, with service revenue excluding DXI and in constant currency up 22% and ahead of our financial outlook. More importantly, we are disrupting a $50 billion addressable market that is shifting toward cloud solutions with a preference for a single technology platform. 8x8 is the only cloud provider that delivers voice, contact center, collaboration, and video conferencing, with integrated data and analytics from a single technology platform. We remain confident as ever in our long-term growth opportunities and creating shareholder value," said Vik Verma, Chief Executive Officer at 8x8, Inc.


Additional Third Quarter Business Metrics and Company Highlights:

Business Metrics

GAAP gross margin was 75%, compared with 78% in the same period last year. Non-GAAP gross margin was 77%, compared with 79% in the same period last year. GAAP service margin was 80%, compared with 83% in the same period last year. Non-GAAP service margin was 83%, compared with 84% in the same period last year.
Cash used in operating activities was $2.1 million. Cash, restricted cash and investments were $123 million at December 31, 2018.
Average monthly service revenue per business customer (ARPU): ARPU for mid-market and enterprise customers was $5,211, compared with $4,765 in the same period last year, a 9% year-over-year increase. Total ARPU grew to $506, compared with $454 in the same period last year, an 11% increase year-over-year.
New monthly recurring revenue (MRR) booked from mid-market and enterprise customers increased approximately 13% year-over-year and comprised 66% of total bookings.
Channel bookings increased 23% year-over-year.




1

The following information was filed by 8X8 Inc (EGHT) on Tuesday, January 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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