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8X8 Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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We believe that effective 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 cash flow improvement.
25 Table of Contents General and administrative expenses for the three months ended December 31, 2020, increased as compared to the same prior fiscal year period, primarily due to a $1.8 million increase in employee and consulting related expenditures, including CEO succession costs, and $0.6 million higher allowance for credit losses, partially in response to external market factors and uncertainties in connection with the COVID-19 pandemic.
General and administrative expenses for the nine months ended December 31, 2020, increased over the same prior fiscal year period, primarily due to a $3.6 million increase in stock-based compensation expense, a $3.4 million increase in employee and consulting related expenditures, including CEO succession costs, $2.6 million higher allowance for credit losses, partially in response to external market factors and uncertainties in connection with the COVID-19 pandemic, a $2.3 million increase in tax related expense, and a $1.5 million increase in depreciation expense.
Factors that could cause or contribute to these differences include, but are not limited to, those discussed below and elsewhere in this report, particularly those set forth under the section entitled "Risk Factors" in our Annual Report on Form 10-K ("Form 10-K") for the fiscal year ended March 31, 2020, as modified by those in Part II, Item 1A of our Quarterly Report for the three months ended June 30, 2020 on Form 10-Q under the heading "Risk Factors."
Cost of Service Revenue Cost of service revenue consists primarily of costs associated with network operations and related personnel, technology licenses, amortization of internally developed software, other communication origination and termination services provided by third-party carriers and outsourced customer service call center operations, and other costs such as customer service, and technical support costs.
We plan to continue to...Read more
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NEW ACCOUNTING PRONOUNCEMENTS For a...Read more
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These migrations may require us...Read more
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IMPACTS OF COVID-19 The full...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-Q Quarterly Report
Accession Number: 0001023731-21-000035
Submitted to the SEC: Fri Jan 29 2021 4:06:59 PM EST
Accepted by the SEC: Fri Jan 29 2021
Period: Thursday, December 31, 2020
Industry: Computer Processing And Data Preparation