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

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EGHT Annual Reports

8X8 Inc

CIK: 1023731 Ticker: EGHT


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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.

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

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Acquisitions
Acquisitions (Tables)
Acquisitions - Allocation Of The Fair Value Of Purchase Consideration (Details)
Acquisitions - Fair Value Intangible Assets Acquired (Details)
Acquisitions - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Convertible Senior Notes And Capped Call
Convertible Senior Notes And Capped Call (Tables)
Convertible Senior Notes And Capped Call - Carrying Amount Of The Liability Component (Details)
Convertible Senior Notes And Capped Call - Interest Expense (Details)
Convertible Senior Notes And Capped Call - Narrative (Details)
Convertible Senior Notes And Capped Call - Net Impact To Stockholders' Equity (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Cash, Cash Equivalents And Investments With Hierarchy (Details)
Fair Value Measurements - Narrative (Details)
Financial Statement Components
Financial Statement Components - Property, Plant And Equipment (Details)
Financial Statement Components (Tables)
Financial Statement Components - Narrative (Details)
Financial Statement Components - Schedule Of Other Current Assets (Details)
Financial Statement Components - Schedule Of Other Current Liabilities (Details)
Geographical Information
Geographical Information (Details)
Geographical Information (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Income Tax Provision (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Taxes Provided To Federal Statutory Rate (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Intangible Assets, Goodwill And Other Assets
Intangible Assets, Goodwill And Other Assets (Tables)
Intangible Assets, Goodwill And Other Assets - Changes In Carrying Amount Of Goodwill By Location (Details)
Intangible Assets, Goodwill And Other Assets - Narrative (Details)
Intangible Assets, Goodwill And Other Assets - Schedule Of Future Amortization Of Intangibles (Details)
Intangible Assets, Goodwill And Other Assets - Schedule Of Intangibles (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Right-Of-Use Assets And Liabilities (Details)
Leases - Maturity Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Information (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Basic And Diluted Net Income (Loss) Per Share (Details)
Net Loss Per Share - Schedule Of Antidilutive Awards (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Changes In Contract Balances (Details)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Schedule Ii (Details)
Scheudle Ii
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Assumptions Used In Black-Scholes Model (Details)
Stockholders' Equity - Narrative (Details)
Stockholders' Equity - Option Activity (Details)
Stockholders' Equity - Stock Purchase Right And Restricted Stock Unit Activity (Details)
Stockholders' Equity - Stock-Based Compensation Expense By Statement Of Operations (Details)
The Company And Significant Accounting Policies
The Company And Significant Accounting Policies (Policies)
The Company And Significant Accounting Policies - Narrative (Details)
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

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