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8X8 Inc (EGHT) SEC Filing 10-Q Quarterly Report for the period ending Friday, December 31, 2021

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EGHT Quarterly Reports

8X8 Inc

CIK: 1023731 Ticker: EGHT


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

Service Revenue Increased 18% and Total ARR Increased 16% Year-over-Year
CAMPBELL, CA. - February 2, 2022 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the third quarter of fiscal 2022 ended December 31, 2021.

Third Quarter Fiscal 2022 Financial Results:
Total revenue increased 15% year-over-year to $156.9 million.
Service revenue increased 18% year-over-year to $149.4 million.
GAAP operating loss was $37.6 million; Non-GAAP operating profit was $3.1 million.

“We delivered revenue above the high end of our guidance range and achieved non-GAAP operating profitability and positive cash flow from operations for the fourth consecutive quarter. Channel contribution, growth in Enterprise ARR, growth in XCaaS ARR, and adoption of 8x8 Voice for Microsoft Teams demonstrated continued strength in the third quarter,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “Our investments in XCaaS, channel, and global coverage have us well positioned to achieve our long-term goals of revenue growth and increased profitability.”

Third Quarter Fiscal 2022 Financial Metrics and Business Highlights:

Financial Metrics
Annualized Recurring Subscriptions and Usage (ARR):
Total ARR of $572 million, an increase of 16% from the same period last year.
907 enterprise customers with ARR greater than $100,000, compared to 734 customers in the same period last year, an increase of 24% year-over-year.
Enterprise ARR growth of 30%, accounting for 54% of total ARR compared to 48% of total ARR at the end of the third quarter of fiscal 2021.
GAAP gross margin was 62%, compared to 56% in the same period last year. Non-GAAP gross margin was 65%, compared to 60% in the same period last year.
GAAP service revenue gross margin was 67%, compared to 63% in the same period last year. Non-GAAP service revenue gross margin was 70%, compared to 66% in the same period last year.
Cash provided by operating activities was $9.0 million, compared to cash used by operating activities of $1.8 million in the third quarter of fiscal 2021.
Cash, restricted cash, and investments of $260.5 million at December 31, 2021, compared to $161.5 million at March 31, 2021.

Product Innovation Highlights
Delivered the industry’s first integrated cloud phone and contact center solution that supports the communications and customer engagement requirements of multinational organizations in the Philippines. Increased full PSTN replacement services to 48 countries and territories.
Announced general availability of 8x8 Work for Web, a browser-based solution for a secure, unified communications and collaboration experience across almost any device and operating system.
Released advanced enterprise video meeting capabilities, including breakout rooms and detailed meeting summaries.

Industry Recognition
Named a Leader in the IDC MarketScape: Worldwide Unified Communication and Collaboration 2021 Vendor Assessment.
Awarded the 2021 CRN Tech Innovator Award for 8x8 XCaaS.
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The following information was filed by 8X8 Inc (EGHT) on Wednesday, February 2, 2022 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)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: EGHT
CIK: 1023731
Form Type: 10-Q Quarterly Report
Accession Number: 0001023731-22-000034
Submitted to the SEC: Thu Feb 03 2022 4:08:56 PM EST
Accepted by the SEC: Thu Feb 03 2022
Period: Friday, December 31, 2021
Industry: Computer Processing And Data Preparation

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