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8X8 Inc (EGHT) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, March 31, 2022

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EGHT Annual Reports

8X8 Inc

CIK: 1023731 Ticker: EGHT

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8x8, Inc. Reports Fourth Quarter and Fiscal 2022 Financial Results
Fourth quarter revenue increased 25% percent year-over-year to $181 million.
Fiscal 2022 revenue increased 20% percent year-over-year to $638 million
Enterprise ARR increased 55% year-over-year to $393 million
Positive operating cash flow of $17 million for fourth quarter and $35 million for fiscal year 2022


CAMPBELL, CA. - May 10, 2022 - 8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the fourth quarter and fiscal year 2022 ended March 31, 2022.

Fourth Quarter Fiscal 2022 Financial Results:

Total revenue increased 25% year-over-year to $181.4 million, including Fuze revenue of $24.1 million.
Service revenue increased 29% year-over-year to $172.8 million, including Fuze revenue of $23.9 million.
GAAP operating loss was $40.5 million, compared to a GAAP operating loss of $40.0 million in the fourth quarter fiscal 2021.
Non-GAAP operating profit was $4.2 million, compared to non-GAAP operating profit of $0.6 million in fourth quarter fiscal 2021.

Fiscal 2022 Financial Results:

Total revenue increased 20% year-over-year to $638.1 million, including Fuze revenue of $24.1 million.
Service revenue increased 21% year-over-year to $602.4 million, including Fuze revenue of $23.9 million.
GAAP operating loss was $154.1 million, compared to a GAAP operating loss of $146.1 million in fiscal 2021.
Non-GAAP operating profit was $10.6 million, or 2% of revenue, compared to a non-GAAP operating loss of $11.1 million in fiscal 2021.

“We improved non-GAAP operating profitability in every quarter of fiscal 2022 and achieved a non-GAAP operating profit for the year,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “We also made significant progress on our strategic initiatives by strengthening our management team, increasing our enterprise customer base, closing the Fuze acquisition, expanding our global coverage, and accelerating XCaaS innovation.”

“During the fourth quarter, we introduced industry-leading tailored experiences for the modern workplace with 8x8 Agent Workspace for 8x8 Contact Center and 8x8 Conversation IQ. We also extended 8x8 Global Reach, which provides full cloud PSTN support, to 50 countries and territories, including Thailand and Indonesia. Our continued focus on innovation and operational efficiency positions us for long-term success and improved operating results in the future,” Sipes added.

Fourth Quarter Fiscal 2022 Financial Metrics and Recent Business Highlights:

Financial Metrics
Annual Recurring Subscriptions and Usage (ARR):
Total ARR grew to $687 million, an increase of 33% from the end of the same period last year. Total ARR included approximately $113 million acquired through the Fuze transaction.
1,320 customers generated ARR greater than $100,000, an increase of 73% from the end of 2021.
GAAP gross margin was 62%, compared to 58% in the same period last year. Non-GAAP gross margin was 67%, compared to 61% in the same period last year.
GAAP service margin was 69%, compared to 65% in the same period last year. Non-GAAP service margin was 72%, compared to 67% in the same period last year.
Cash provided by operating activities was $16.6 million for the fourth quarter, compared to $0.8 million in the fourth quarter of fiscal 2021. For the year, cash provided by operating activities was $34.7 million, compared to $14.1 million cash used by operating activities in fiscal 2021.
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The following information was filed by 8X8 Inc (EGHT) on Tuesday, May 10, 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-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

Audit Information
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)
Acquisitions - Schedule Of Pro Forma Financials (Details)
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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
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Geographical Information (Tables)
Income Taxes
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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)
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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
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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)
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Stock-Based Compensation And Stockholders' Equity - Option Activity (Details)
Stock-Based Compensation And Stockholders' Equity - Performance Stock Units Information (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: 0001023731-22-000087
Submitted to the SEC: Fri May 27 2022 4:26:08 PM EST
Accepted by the SEC: Fri May 27 2022
Period: Thursday, March 31, 2022
Industry: Computer Processing And Data Preparation

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