8X8 Inc (EGHT) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, March 31, 2020

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8X8 Inc
Ticker: EGHT CIK: 1023731

8x8, Inc. Reports Fourth Quarter and Fiscal 2020 Financial Results

Fiscal 2020 Total Revenue Increased 27% year-over-year to $446.2 million

Total ARR grew 34% in the fiscal fourth quarter

CAMPBELL, CA. - May 12, 2020 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the

fourth quarter and full-year fiscal 2020 ended March 31, 2020.

Fourth Quarter Fiscal 2020 Financial Results:


•	Total revenue increased 29.6% year-over-year to $121.5 million.


•	Service revenue increased 30.2% year-over-year to $116.0 million.


•	GAAP Pre-Tax Loss was $50.0 million; Non-GAAP Pre-Tax Loss was $12.7 million.

Full-Year Fiscal 2020 Financial Results:


•	Total revenue increased 26.6% year-over-year to $446.2 million.


•	Service revenue increased 27.5% year-over-year to $426.5 million.


•	GAAP Pre-Tax Loss was $171.5 million; Non-GAAP Pre-Tax Loss was $58.6 million.

"We delivered solid fourth quarter and full-year results exceeding our guidance range, driven by continued momentum in the channel, mid-market and enterprise markets,” said Vik Verma, Chief Executive Officer at 8x8, Inc. "During this unprecedented time, 8x8’s cloud-based communications solutions have seen a tremendous surge in usage and provide a critical service supporting customers, partners and communities to stay connected, productive and responsive in remote work environments.”

“The digital transformation from on-premise to cloud was a business imperative before COVID-19, and even more so now as legacy systems in the marketplace do not meet evolving business continuity requirements. 8x8 is well positioned to remotely deliver an integrated platform for communications, collaboration, contact center and video meetings for long-term business resiliency," added Verma.

Q4 F2020 Business Metrics and Highlights:

Financial and Business Metrics


•	Bookings greater than $100K ARR: The Company closed a record 42 new customer deals in the fourth quarter of fiscal 2020 with ARR (annual recurring revenue) greater than $100,000. These deals represented 34% of new bookings for the quarter.


•	Channel bookings grew 63% year-over-year and represented 54% of new bookings.


•	Contact center bookings represented 30% of total new bookings and grew 76% year-over-year.


•	Total ARR: The Company's total annual recurring revenue is $426.4 million, an increase of 34% from the same period last year.


•	Total ARR greater than $100K: The Company had 611 customers that generated ARR greater than $100,000, compared with 408 customers in the same period last year, a 50% year-over-year growth.


•	Strong ARR growth by customer size:


•	Small Business customers (defined as companies whose revenue is less than $50 million) comprised 54% of Total ARR which grew 16% year-over-year.

The following information was filed by 8X8 Inc (EGHT) on Tuesday, May 12, 2020 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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