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8X8 Inc (EGHT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

8X8 Inc

CIK: 1023731 Ticker: EGHT






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8x8, Inc. Reports First Quarter Fiscal 2022 Financial Results

Service Revenue Growth of 21% Year-over-Year; Total ARR Grew 24% Year-over-Year

Raises Fiscal Full-Year 2022 Service Revenue Guidance to Approximately 14%-15% Year-over-Year Growth

CAMPBELL, CA. - August 4, 2021 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the first quarter of fiscal 2022 ended June 30, 2021.

First Quarter Fiscal 2022 Financial Results:
Total revenue increased 22% year-over-year to $148.3 million.
Service revenue increased 21% year-over-year to $137.8 million.
GAAP Operating Loss was $38.8 million; Non-GAAP Operating Profit was $1.3 million.

“We were pleased with our first quarter results,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “We introduced XCaaS (eXperience Communications as a Service) to break down the silos between cloud contact center and employee communications. XCaaS improves our customers' time to cloud transformation and does so with unparalleled innovation. We are delivering today what our competitors are envisioning for the future.”

First Quarter Fiscal 2022 Business Metrics and Highlights:

Financial and Business Metrics
Annualized Recurring Subscriptions and Usage (ARR):
Total ARR grew to $535.8 million, an increase of 24% from the same period last year.
824 customers generated ARR greater than $100K, compared with 606 customers in the same period last year, a 36% year-over-year growth.
ARR growth by customer size:
Small Business customers (defined as companies that generate less than $25K ARR) comprised 32% of total ARR which grew 7% year-over-year.
Mid-market customers (defined as companies that generate between $25K and $100K ARR) comprised 19% of total ARR which grew 22% year-over-year.
Enterprise customers (defined as companies that generate more than $100K ARR) comprised 49% of total ARR which grew 40% year-over-year.
GAAP gross margin was 60%, compared with 57% in the same period last year. Non-GAAP gross margin was 63%, compared with 61% in the same period last year.
GAAP service margin was 67%, compared with 64% in the same period last year. Non-GAAP service margin was 69%, compared with 68% in the same period last year.
Cash provided by operating activities was $4.0 million. Cash, restricted cash, and investments were $161.9 million at June 30, 2021, and $161.5 million at March 31, 2021.

Product Innovation Highlights
Introduced XCaaS (eXperience Communications as a Service) for customer and employee engagement.
Launched the industry’s first and only financially-backed, platform-wide 99.999% SLA across an integrated cloud UCaaS and CCaaS solution.
Released support for 500 active video meeting participants for 8x8 Work and JaaS (Jitsi as a Service).
Extended 8x8 Voice for Microsoft Teams enhancements with presence synchronization for real-time visibility across an entire organization, including the contact center.


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The following information was filed by 8X8 Inc (EGHT) on Wednesday, August 4, 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Convertible Senior Notes And Capped Calls
Convertible Senior Notes And Capped Calls (Tables)
Convertible Senior Notes And Capped Calls - Carrying Amount Of The Liability Component (Details)
Convertible Senior Notes And Capped Calls - Interest Expense (Details)
Convertible Senior Notes And Capped Calls - Narrative (Details)
Description Of Business
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Geographical Information
Geographical Information (Tables)
Geographical Information - (Details)
Income Taxes
Income Taxes (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Tables)
Intangible Assets And Goodwill - Carrying Value Of Intangible Assets (Details)
Intangible Assets And Goodwill - Narrative (Details)
Intangible Assets And Goodwill - Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
Intangible Assets And Goodwill - Summary Of Changes In Goodwill (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Right-Of-Use Assets And Liabilities (Details)
Leases - Maturity Of Lease Liabilities (Details)
Leases - Operating Lease Expense (Details)
Leases - Supplemental Information (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Antidilutive Securities (Details)
Net Loss Per Share - Earnings Per Share, Basic And Diluted (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Assumptions Used In Black-Scholes Model (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Stock Units And Performance Stock Units (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: EGHT
CIK: 1023731
Form Type: 10-Q Quarterly Report
Accession Number: 0001023731-21-000161
Submitted to the SEC: Thu Aug 05 2021 4:26:31 PM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Computer Processing And Data Preparation

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