8X8 Inc (EGHT) 10-K Annual Report May 2019

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.

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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Inside 8X8 Inc's 10-K Annual Report:

Revenue - Product Highlight
We believe these classifications provide additional clarity and insights into the Companys go-to-market, demand generation and sales execution activities, and how the total Sales and Marketing spend drives revenue generation, in light of the recent strategic and organizational changes impacting our channel, marketing and support activities.

Revenue - Product Highlight
We continued to show an increase in our average monthly service revenue per customer (ARPU), which grew to $498, compared with $450 in fiscal 2018, as we are selling more to mid-market and enterprise customers.
Financial - Expense Highlight
The increase in cost of service revenue for fiscal 2019 from fiscal 2018 was primarily due to a $5.5 million increase in amortization of capitalized software, a $4.7 million increase in payroll and related expenses, a $2.3 million increase in amortization of intangibles, a $1.5 million increase in stock-based compensation expenses, a $1.4 million increase in consulting and outside service expenses, a $1.1 million increase in third-party network service expenses (due to increased call volumes associated with our subscription revenue growth), and a $1.0 million increase in licenses and fees.
Revenue - Product Highlight
Service revenue from mid-market and enterprise customers represented 62% of total service revenue and grew 30% over the prior year.
Revenue - Product Highlight
In fiscal 2019, our total service revenue grew 19% year-over-year to $334.4 million, roughly in-line with our fiscal 2018 growth rate.
Revenue - Product
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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

8X8 Inc provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.19: Material Contract

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: EGHT
CIK: 1023731
Form Type: 10-K Annual Report
Accession Number: 0001023731-19-000037
Submitted to the SEC: Tue May 21 2019 12:08:03 PM EST
Accepted by the SEC: Tue May 21 2019
Period: Sunday, March 31, 2019
Industry: Computer Processing And Data Preparation