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8X8 Inc (EGHT) SEC Filing 10-K Annual Report for the fiscal year ending Wednesday, March 31, 2021

8X8 Inc

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CIK: 1023731 Ticker: EGHT

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8x8, Inc. Reports Fourth Quarter and Fiscal 2021 Financial Results

Fiscal 2021 Total Revenue Increased 19% year-over-year to $532 million; Total ARR grew 22% in the fiscal fourth quarter


CAMPBELL, CA. - May 10, 2021 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the fourth quarter and full-year fiscal 2021 ended March 31, 2021.

Fourth Quarter Fiscal 2021 Financial Results:

•Total revenue increased 19.1% year-over-year to $144.7 million.
•Service revenue increased 18.9% year-over-year to $133.8 million.
•GAAP Pre-Tax Loss was $44.9 million; Non-GAAP Pre-Tax Profit was $0.1 million.

Full-Year Fiscal 2021 Financial Results:

•Total revenue increased 19.3% year-over-year to $532.3 million.
•Service revenue increased 19.8% year-over-year to $496.0 million.
•GAAP Pre-Tax Loss was $164.7 million; Non-GAAP Pre-Tax Loss was $12.8 million.

“We surpassed our goal of achieving profitability ahead of schedule, driven by continued upmarket momentum in enterprise markets due to our differentiated, integrated cloud contact center and communications product,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “We sit at the center of massive markets migrating quickly to the cloud with a differentiated offering in which to capitalize on these substantial tailwinds.”


Q4 Fiscal 2021 Business Metrics and Highlights:

Financial and Business Metrics
•Bookings:
◦Closed 45 new customer deals in the fourth quarter of fiscal 2021 with ARR (annual recurring revenue) greater than $100K, an increase of 7% from the same period last year. These deals represented 36% of new bookings for the quarter and included 28 new logo deals.
◦Bundled contact center and communications represented 75% of new bookings that were $12K or more in ARR.
◦Channel bookings grew 7% year-over-year and represented 53% of new bookings.
◦Contact center new bookings grew 20% year-over-year and represented 33% of total new bookings.
•Annual recurring revenue (ARR):
◦Total ARR grew to $518.1 million, an increase of 22% from the same period last year.
◦761 customers generated ARR greater than $100K, compared with 611 customers in the same period last year, a 25% year-over-year growth.
•ARR growth by customer size:
◦Small Business customers (defined as companies whose annual revenue is less than $50 million) comprised 52% of total ARR which grew 17% year-over-year.
◦Mid-market customers (defined as companies whose annual revenue is between $50 million and $1 billion) comprised 27% of total ARR which grew 14% year-over-year.
◦Enterprise customers (defined as companies whose annual revenue is more than $1 billion) comprised 21% of total ARR which grew 49% year-over-year.
•GAAP gross margin was 58%, compared with 53% in the same period last year. Non-GAAP gross margin was 61%, compared with 58% in the same period last year.
•GAAP service margin was 65%, compared with 62% in the same period last year. Non-GAAP service margin was 67%, compared with 67% in the same period last year.
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The following information was filed by 8X8 Inc (EGHT) on Monday, May 10, 2021 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)
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 And Goodwill
Intangible Assets And Goodwill (Tables)
Intangible Assets And Goodwill - Changes In Carrying Amount Of Goodwill By Location (Details)
Intangible Assets And Goodwill - Narrative (Details)
Intangible Assets And Goodwill - Schedule Of Future Amortization Of Intangibles (Details)
Intangible Assets And Goodwill- 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 - Operating Lease Expense (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 - Contract Balances (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Stock-Based Compensation And Stockholders' Equity
Stock-Based Compensation And Stockholders' Equity (Tables)
Stock-Based Compensation And Stockholders' Equity - Assumptions Used In Black-Scholes Model (Details)
Stock-Based Compensation And Stockholders' Equity - Narrative (Details)
Stock-Based Compensation And Stockholders' Equity - Option Activity (Details)
Stock-Based Compensation And Stockholders' Equity - Stock Purchase Right And Restricted Stock Unit Activity (Details)
Stock-Based Compensation And Stockholders' Equity - Stock-Based Compensation Expense By Statement Of Operations (Details)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Narrative (Details)
Supplemental Financial Information - Property, Plant And Equipment (Details)
Supplemental Financial Information - Schedule Of Other Current Assets (Details)
Supplemental Financial Information - Schedule Of Other Current Liabilities (Details)
The Company And Significant Accounting Policies
The Company And Significant Accounting Policies (Policies)
The Company And Significant Accounting Policies - Narrative (Details)
Unaudited Selected Consolidated Quarterly Financial Data
Unaudited Selected Consolidated Quarterly Financial Data (Details)
Unaudited Selected Consolidated Quarterly Financial Data (Tables)
Ticker: EGHT
CIK: 1023731
Form Type: 10-K Annual Report
Accession Number: 0001023731-21-000091
Submitted to the SEC: Mon May 17 2021 4:18:23 PM EST
Accepted by the SEC: Mon May 17 2021
Period: Wednesday, March 31, 2021
Industry: Computer Processing And Data Preparation

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