a8x8logoa31.jpg


8x8, Inc. Reports First Quarter Fiscal 2021 Financial Results

Service revenue growth of 27% year-over-year

Total ARR grew 30% year-over-year



CAMPBELL, CA. - July 30, 2020 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform, today reported financial results for the first quarter of fiscal 2021 ended June 30, 2020.

First Quarter Fiscal 2021 Financial Results Highlights:

Total revenue increased 26.0% year-over-year to $121.8 million.
Service revenue increased 27.1% year-over-year to $114.2 million.
GAAP Pre-Tax Loss was $41.7 million; Non-GAAP Pre-Tax Loss was $7.6 million.


“Our strategy remains focused on profitability, execution and maximizing growth. ​The results of last quarter clearly reflect steady improvements in operational efficiency,” said Vik Verma, Chief Executive Officer at 8x8, Inc. “We delivered Q1 results that exceeded our financial outlook and finished the quarter with strong momentum. The launch of our Open Communications Platform, coupled with continued growth in mid-market and enterprise driven by our channel-first approach position us well for the future.”



Q1 Fiscal 2021 Business Metrics and Highlights:

Financial and Business Metrics

Bookings greater than $100K ARR: The Company closed 38 new customer deals in the first quarter of fiscal 2021 with ARR (annual recurring revenue) greater than $100,000. These deals represented 43% of new bookings for the quarter, compared with 31% of new bookings in the same period last year.
Channel bookings grew 47% year-over-year and represented 62% of new bookings.
Contact center bookings represented 32% of total new bookings and grew 194% year-over-year.
Total ARR: The Company's total annual recurring revenue is $432.2 million, an increase of 30% from the same period last year.
Total ARR greater than $100K: The Company had 606 customers that generated ARR greater than $100,000, compared with 449 customers in the same period last year, a 35% year-over-year growth.
Strong ARR growth by customer size:
Small Business customers (defined as companies whose annual revenue is less than $50 million) comprised 55% of total ARR which grew 16% year-over-year.
Mid-market customers (defined as companies whose annual revenue is between $50 million and $1 billion) comprised 26% of total ARR which grew 40% year-over-year.
Enterprise customers (defined as companies whose annual revenue is more than $1 billion) comprised 19% of total ARR which grew 72% year-over-year.
Average annual service revenue per customer:
Small business was $4,623, compared with $4,596 in the same period last year, a 1% increase year-over-year.
Mid-market was $41,963, compared with $36,498 in the same period last year, a 15% increase year-over-year.
Enterprise was $167,000, compared with $150,653 in the same period last year, an 11% increase year-over-year.

1

The following information was filed by 8X8 Inc (EGHT) on Thursday, July 30, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate 8X8 Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by 8X8 Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account