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8x8, Inc. Reports Fourth Quarter and Fiscal 2019 Financial Results

Fiscal 2019 Total Revenue Increased 19% year-over-year to $352.6 million

Channel bookings in the fourth fiscal quarter grew 91% year-over-year

Bookings from mid-market and enterprise customers in the fourth fiscal quarter (greater than $1K MRR) increased 34% year-over-year


SAN JOSE, CA. - May 14, 2019 - 8x8, Inc. (NYSE: EGHT), a leading cloud provider of voice, video, chat and contact center solutions for over one million users worldwide, today reported financial results for the
fourth quarter and full-year fiscal 2019 ended March 31, 2019.

Fourth Quarter Fiscal 2019 Financial Results:

Total revenue increased 18% year-over-year to $93.8 million. Adjusting for constant currency and excluding legacy DXI revenue, total revenue increased 20% year-over-year.
Service revenue increased 18% year-over-year to $89.1 million. Adjusted 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 legacy DXI revenue, increased 29% year-over-year and represents 63% of total service revenue.
Service revenue from mid-market and enterprise customers billing greater than $10,000 in MRR, adjusting for constant currency and excluding legacy DXI revenue, increased 51% year-over-year and represents 30% of total service revenue.
GAAP net loss was $28.1 million or $(0.29) per diluted share.
Non-GAAP net loss was $8.4 million or $(0.09) per diluted share.

"We finished 2019 with strong execution from our mid-market and channel teams. We have the only technology platform in the market today that can deliver both stand-alone and mix-and-match bundling of solutions across three distinct but complementary high-growth markets of business communications, contact center, and video collaboration. This positions 8x8 for continued growth in fiscal 2020 and beyond as each of these markets shifts to the cloud,” said Vik Verma, Chief Executive Officer at 8x8, Inc.

Full-Year Fiscal 2019 Financial Results:

Total revenue increased 19% year-over-year to $352.6 million. Adjusting for constant currency and excluding legacy DXI revenue, total revenue increased 21% year-over-year.
Service revenue increased 19% year-over-year to $334.4 million. Adjusted service revenue increased 22% year-over-year.
Service revenue from mid-market and enterprise customers billing greater than $1,000 in MRR, adjusting for constant currency and excluding legacy DXI revenue, increased 30% year-over-year and represents 62% of total service revenue.
Service revenue from mid-market and enterprise customers billing greater than $10,000 in MRR, adjusting for constant currency and excluding legacy DXI revenue, increased 57% year-over-year and represents 28% of total service revenue.
GAAP net loss was $88.7 million or $(0.94) per diluted share.
Non-GAAP net loss was $21.3 million, or $(0.22) per diluted share.


Additional Fourth Quarter Business Metrics and Company Highlights:

Business Metrics

Bookings from mid-market and enterprise customers (greater than $1K in MRR) increased 34% year-over-year, compared with 13% in the prior quarter.
Channel bookings grew 91% year-over-year, compared with 23% in the prior quarter.

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The following information was filed by 8X8 Inc (EGHT) on Tuesday, May 14, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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