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• | 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. |
• | 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. |
• | 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. |
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8X8 Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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We believe that this approach and execution will enable the Company to grow and capture market share during this phase of industry disruption in a cost-effective way and support the Company in pursuit of its path to profitability and operating cashflow improvement, which we will continue to execute throughout fiscal 2021.
The increase in research and development expenses for fiscal 2020 from fiscal 2019 was primarily due to an $8.6 million increase in stock-based compensation expenses, a $3.7 million increase in payroll and related expenses, net of capitalized costs for internally developed software, a $2.2 million increase in amortization of capitalized software expenses, and a $1.2 million increase in software expenses.
Cost of service revenue consists primarily of costs associated with network operations and related personnel, technology licenses, amortization of internally developed software, and other costs such as customer service, and technical support costs.
We plan to continue to drive our business to increase service revenue through a combination of increased sales and marketing efforts, geographic expansion of our customer base outside the United States, and through strategic acquisitions of technologies and businesses.
While we may not be able to recover these costs from our customers, we believe that we will realize other benefits including reducing the number of platforms that we are required to support and improved customer churn.
The increase in service revenue...Read more
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Financial Statements, Disclosures and Schedules
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8X8 Inc provided additional information to their SEC Filing as exhibits
Ticker: EGHT
CIK: 1023731
Form Type: 10-K Annual Report
Accession Number: 0001023731-20-000049
Submitted to the SEC: Tue May 19 2020 4:34:30 PM EST
Accepted by the SEC: Tue May 19 2020
Period: Tuesday, March 31, 2020
Industry: Computer Processing And Data Preparation