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
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.
Strategic Partnerships
- Formed a strategic channel partnership between 8x8 and Sandler
Partners, America’s fastest growing master agent and distributor of
connectivity and cloud services. The partnership provides the 8x8
XCaaS platform to more than 9,000 technology partners.
- Enrolled Callstats into the Genesys AppFoundry for enabling
next generation WebRTC monitoring.
- Enrolled in AWS Solution Providers Private Offers
marketplace.
Industry Recognition
- Named a Leader in the Aragon Research Globe for Unified
Communications and Collaboration, 2021.
- Named a Leader in the Aragon Research Globe for Intelligent
Contact Centers, 2021.
- Awarded Frost & Sullivan’s Global Competitive Strategy
Leadership Award for integrated employee and customer experience
management solutions.
Leadership Updates
- Hired Walt Weisner to be our new Chief Customer Officer.
- Announced that Colin Carmichael has joined the Company as Chief
Information Officer.
Financial Outlook:
Second Quarter Fiscal 2022 Financial
Outlook Ending September 30, 2021:
- Total revenue in the range of $147.5 million to $149.0 million,
representing approximately 14% to 15% year-over-year growth.
- Service revenue in the range of $138.5 million to $139.5
million, representing approximately 15% year-over-year growth.
- We expect to be operating margin positive on a non-GAAP
basis.
Full-Year Fiscal 2022 Financial Outlook
Ending March 31, 2022:
- We are raising our total revenue outlook from $595 million to
$605 million to a range of $604 million to $612 million,
representing approximately 13% to 15% year-over-year growth.
- We are raising our service revenue range from $555 million to
$565 million to a range of $564 million to $572 million,
representing approximately 14% to 15% year-over-year growth.
- Maintain our guidance of non-GAAP operating margin to be
positive for the remainder of fiscal 2022, with Q4 fiscal 2022 at
roughly 2%.
Conference Call Information:
Management will host a conference call to discuss earnings
results on August 4, 2021 at 2 p.m. Pacific Time (5 p.m. Eastern
Time). The call will last approximately 60 minutes and is
accessible via the following numbers:
- 1-866-250-8177 Domestic
- 1-412-317-6011 International
Participants should plan to dial in or log on ten minutes prior
to the start time. A telephonic replay of the conference call will
be available until August 11, 2021. For additional information,
visit http://investors.8x8.com.
About 8x8, Inc.
8x8, Inc. (NYSE: EGHT) is transforming the future of business
communications as a leading Software-as-a-Service provider of
voice, video, chat, contact center, and enterprise-class API
solutions powered by one global cloud communications platform. 8x8
empowers workforces worldwide to connect individuals and teams so
they can collaborate faster and work smarter. Real-time business
analytics and intelligence provide businesses unique insights
across all interactions and channels so they can delight
end-customers and accelerate their business. For additional
information, visit www.8x8.com, or follow 8x8 on LinkedIn, Twitter,
and Facebook.
Forward Looking Statements:
This news release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
and Section 21E of the Securities Exchange Act of 1934. Any
statements that are not statements of historical fact may be deemed
to be forward-looking statements. For example, words such as "may,"
"will," "should," "estimates," "predicts," "potential," "continue,"
"strategy," "believes," "anticipates," "plans," "expects,"
"intends," and similar expressions are intended to identify
forward-looking statements. These forward-looking statements,
include but are not limited to: changing industry trends,
operational and economic impacts of the COVID-19 pandemic, new
product innovations and integrations, market demand for our
products, channel and e-commerce growth, sales and marketing
activities, strategic partnerships, business strategies, improved
customer acquisition and support costs, customer churn, future
operating performance and efficiencies, financial outlook, revenue
growth, and profitability.
You should not place undue reliance on such forward-looking
statements. Actual results could differ materially from those
projected in forward-looking statements depending on a variety of
factors, including, but not limited to: the impact of economic
downturns on us and our customers, including the impacts of the
COVID-19 pandemic; customer cancellations and rate of customer
churn; customer acceptance and demand for our new and existing
cloud communication and collaboration services and features,
including voice, contact center, video, messaging, and
communication APIs; competitive market pressures, and any changes
in the competitive dynamics of the markets in which we compete; the
quality and reliability of our services; our ability to scale our
business; customer acquisition costs; our reliance on a network of
channel partners to provide substantial new customer demand; timing
and extent of improvements in operating results from increased
spending in marketing, sales, and research and development; the
amount and timing of costs associated with recruiting, training and
integrating new employees and retaining existing employees; our
reliance on infrastructure of third-party network services
providers; risk of failure in our physical infrastructure; risk of
defects or bugs in our software; risk of cybersecurity breaches;
our ability to maintain the compatibility of our software with
third-party applications and mobile platforms; continued compliance
with industry standards, regulatory, and privacy requirements,
globally; introduction and adoption of our cloud software solutions
in markets outside of the United States; risks relating to the
acquisition and integration of businesses we have acquired or may
acquire in the future; risks related to our senior convertible
notes and the related capped call transactions; and potential
future intellectual property infringement claims and other
litigation that could adversely impact our business and operating
results.
For a discussion of such risks and uncertainties, which could
cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in the Company's
reports on Forms 10-K and 10-Q, as well as other reports that 8x8,
Inc. files from time to time with the Securities and Exchange
Commission. All forward-looking statements are qualified in their
entirety by this cautionary statement, and 8x8, Inc. undertakes no
obligation to update publicly any forward-looking statement for any
reason, except as required by law, even as new information becomes
available or other events occur in the future.
Explanation of GAAP to Non-GAAP Reconciliation
The Company has provided, in this release, financial information
that has not been prepared in accordance with Generally Accepted
Accounting Principles (GAAP). Management uses these Non-GAAP
financial measures internally to understand, manage, and evaluate
the business, and to make operating decisions. Management believes
they are useful to investors, as a supplement to GAAP measures, in
evaluating the Company's ongoing operational performance.
Management also believes that some of 8x8’s investors use these
Non-GAAP financial measures as an additional tool in evaluating
8x8's ongoing "core operating performance" in the ordinary,
ongoing, and customary course of the Company's operations. Core
operating performance excludes items that are non-cash, not
expected to recur, or not reflective of ongoing financial results.
Management also believes that looking at the Company’s core
operating performance provides consistency in period-to-period
comparisons and trends.
These Non-GAAP financial measures may be calculated differently
from, and therefore may not be comparable to, similarly titled
measures used by other companies, which limits the usefulness of
these measures for comparative purposes. Management recognizes that
these Non-GAAP financial measures have limitations as analytical
tools, including the fact that management must exercise judgment in
determining which types of items to exclude from the Non-GAAP
financial information. Non-GAAP financial measures should not be
considered in isolation from, or as a substitute for, financial
information prepared in accordance with GAAP. Investors are
encouraged to review the reconciliation of these Non-GAAP financial
measures to their most directly comparable GAAP financial measures
in the table titled "Reconciliation of GAAP to Non-GAAP Financial
Measures". Detailed explanations of the adjustments from comparable
GAAP to Non-GAAP financial measures are as follows:
Non-GAAP Costs of Revenue & Non-GAAP Service Margin, Other
Margin, and Gross Margin
Non-GAAP Costs of Revenue includes: (i) Non-GAAP Cost of Service
Revenue, which is Cost of Service Revenue excluding amortization of
acquired intangible assets, stock-based compensation expense and
related employer payroll taxes, certain legal and regulatory costs,
and certain severance and contract termination costs; and (ii)
Non-GAAP Cost of Other Revenue, which is Cost of Other Revenue
excluding stock-based compensation expense and related employer
payroll taxes, acquisition and integration expenses, certain legal
and regulatory costs, and certain severance and contract
termination costs. Non-GAAP Service Margin (and as a percentage of
Service Revenue) and Non-GAAP Other Margin (and as a percentage of
Other Revenue) are computed as Service Revenue less Non-GAAP Cost
of Service Revenue and Other Revenue less Non-GAAP Cost of Other
Revenue, respectively. Non-GAAP Gross Margin (and as a percentage
of Revenue) is computed as Revenue less Non-GAAP Cost of Service
Revenue and Non-GAAP Cost of Other Revenue. Management believes the
Company’s investors benefit from understanding these adjustments
and from an alternative view of the Company’s Cost of Service
Revenue and Cost of Other Revenue as well as the Company's Service,
Other and Gross Margins performance as compared to prior periods
and trends.
Non-GAAP Operating Expenses
Non-GAAP Operating Expenses includes Non-GAAP Research and
Development, Non-GAAP Sales and Marketing, and Non-GAAP General and
Administrative, each of which excludes: amortization of acquired
intangible assets, stock-based compensation expense and related
employer payroll taxes, acquisition and integration expenses,
certain legal and regulatory costs, and certain severance and
contract termination costs. Management believes that these
exclusions provide investors with a supplemental view of the
Company’s ongoing operational expenses.
Non-GAAP Other Income (Expenses), net
Non-GAAP Other Income (Expenses), net (and as a percentage of
Revenue) excludes debt amortization expense and sublease income
from Other Income (Expenses), net. Management believes the
Company’s investors benefit from this supplemental information to
facilitate comparison of the Company’s other income performance to
prior results and trends.
Non-GAAP Operating Profit (Loss) & Non-GAAP Operating
Margin
Non-GAAP Operating Profit (Loss) excludes from Loss from
operations: amortization of acquired intangible assets, stock-based
compensation expense and related employer payroll taxes,
acquisition and integration expenses, certain legal and regulatory
costs, and certain severance and contract termination costs.
Non-GAAP Operating Margin is Non-GAAP Operating Profit (Loss)
divided by Revenue. Management believes that these exclusions
provide investors with a supplemental view of the Company’s ongoing
operating performance.
Non-GAAP Pre-Tax Profit (Loss) & Non-GAAP Net Loss
Non-GAAP Pre-Tax Profit (Loss) excludes from Net Income (Loss):
amortization of acquired intangible assets, stock-based
compensation expense and related employer payroll taxes,
acquisition and integration expenses, certain legal and regulatory
costs, certain severance and contract termination costs, debt
amortization expense, sublease income, and the provision for income
taxes. Non-GAAP Net Loss includes the impact of the provision for
income taxes on Non-GAAP Pre-Tax Profit (Loss). Management believes
the Company’s investors benefit from understanding these
adjustments and an alternative view of our net income performance
as compared to prior periods and trends.
Non-GAAP Pre-Tax Profit (Loss) Per Share – Diluted &
Non-GAAP Net Loss Per Share – Basic and Diluted
Non-GAAP Pre-Tax Profit (Loss) Per Share – Diluted is Non-GAAP
Pre-Tax Profit (Loss) divided by the weighted-average diluted
shares outstanding. Non-GAAP Net Loss Per Share – Basic and Diluted
is Non-GAAP Net Loss divided by the weighted-average basic shares
outstanding. Diluted shares outstanding include the effect of
potentially dilutive securities from stock-based benefit plans and
convertible senior notes. These potentially dilutive securities are
excluded from the computation of dilutive net loss per share
attributable to common stockholders on a GAAP basis because the
effect would have been anti-dilutive. They are added for the
computation of diluted net income per share on a Non-GAAP basis in
periods when 8x8 has net profit on a non-GAAP basis as its
inclusion provides a better indication of 8x8’s underlying business
performance. Management believes the Company’s investors benefit by
understanding our Non-GAAP pre-tax profit (loss) and Non-GAAP net
loss performance as reflected in a per share calculation as ways of
measuring performance by ownership in the company. Management
believes these adjustments offer investors a useful view of the
Company’s diluted net income per share as compared to prior periods
and trends.
Management evaluates and makes decisions about its business
operations based on Non-GAAP financial information by excluding
items management does not consider to be “core costs” or “core
proceeds.” Management believes some of its investors also evaluate
our "core operating performance" as a means of evaluating our
performance in the ordinary, ongoing, and customary course of our
operations. Management excludes the amortization of acquired
intangible assets, which primarily represents a non-cash expense of
technology and/or customer relationships already developed, to
provide a supplemental way for investors to compare the Company’s
operations pre-acquisition to those post-acquisition and to those
of our competitors that have pursued internal growth strategies.
Stock-based compensation expense has been excluded because it is a
non-cash expense and relies on valuations based on future
conditions and events, such as the market price of 8x8 common
stock, that are difficult to predict and/or largely not within the
control of management. The related employer payroll taxes for
stock-based compensation are excluded since they are incurred only
due to the associated stock-based compensation expense. Acquisition
and integration expenses consist of external and incremental costs
resulting directly from merger and acquisition and strategic
investment activities such as legal and other professional
services, due diligence, integration, and other closing costs,
which are costs that vary significantly in amount and timing. Legal
and regulatory costs include litigation and other professional
services, as well as certain tax and regulatory liabilities.
Severance and contract termination costs include employee
termination benefits, executive severance agreements, cancellation
of certain contracts, and lease impairments. Debt amortization
expenses relate to the non-cash accretion of the debt discount.
Sublease income and provision for income taxes are excluded as they
are non-operating in nature.
8x8, Inc.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(Unaudited, dollars and shares in
thousands except per share amounts)
Three Months Ended June
30,
2021
2020
Service revenue
$
137,796
$
114,183
Other revenue
10,531
7,624
Total revenue
148,327
121,807
Operating expenses:
Cost of service revenue
46,010
40,996
Cost of other revenue
13,746
11,137
Research and development
25,392
21,494
Sales and marketing
75,915
60,150
General and administrative
26,091
25,790
Total operating expenses
187,154
159,567
Loss from operations
(38,827
)
(37,760
)
Other expense, net
(4,823
)
(3,925
)
Loss before provision for income taxes
(43,650
)
(41,685
)
Provision for income taxes
256
228
Net loss
$
(43,906
)
$
(41,913
)
Net loss per share:
Basic and diluted
$
(0.40
)
$
(0.40
)
Weighted-average common shares
outstanding:
Basic and diluted
109,925
103,607
8x8, Inc.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(Dollars in thousands)
June 30, 2021
March 31, 2021
(unaudited)
(audited)
ASSETS
Current assets:
Cash and cash equivalents
$
109,288
$
112,531
Restricted cash, current
8,179
8,179
Short-term investments
31,231
40,337
Accounts receivable, net
49,755
51,150
Deferred sales commission costs,
current
31,711
30,241
Other current assets
36,066
34,095
Total current assets
266,230
276,533
Property and equipment, net
90,776
93,076
Operating lease, right-of-use assets
63,402
66,664
Intangible assets, net
15,845
17,130
Goodwill
131,599
131,520
Restricted cash, non-current
462
462
Long-term investments
12,712
—
Deferred sales commission costs,
non-current
74,394
72,427
Other assets
20,238
20,597
Total assets
$
675,658
$
678,409
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities:
Accounts payable
$
33,233
$
31,236
Accrued compensation
27,876
29,879
Accrued taxes
11,321
12,129
Operating lease liabilities, current
12,792
12,942
Deferred revenue, current
21,985
20,737
Other accrued liabilities
13,995
14,455
Total current liabilities
121,202
121,378
Operating lease liabilities,
non-current
79,403
82,456
Convertible senior notes, net
312,828
308,435
Other liabilities, non-current
5,429
5,636
Total liabilities
518,862
517,905
Commitments and contingencies (Note 7)
Stockholders' equity:
Common stock
111
109
Additional paid-in capital
795,589
755,643
Accumulated other comprehensive loss
(3,943
)
(4,193
)
Accumulated deficit
(634,961
)
(591,055
)
Total stockholders' equity
156,796
160,504
Total liabilities and stockholders'
equity
$
675,658
$
678,409
8x8, Inc.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited, dollars in
thousands)
Three Months Ended June
30,
2021
2020
Cash flows from operating
activities:
Net loss
$
(43,906
)
$
(41,913
)
Adjustments to reconcile net loss to net
cash provided by (used in) operating activities:
Depreciation
2,922
2,823
Amortization of intangible assets
1,285
2,228
Amortization of capitalized internal-use
software costs
7,243
6,217
Amortization of debt discount and issuance
costs
4,393
4,126
Amortization of deferred sales commission
costs
8,245
6,138
Allowance for credit losses
383
1,742
Operating lease expense, net of
accretion
3,459
3,750
Stock-based compensation expense
36,587
22,779
Other
713
602
Changes in assets and liabilities:
Accounts receivable
924
(3,428
)
Deferred sales commission costs
(11,615
)
(13,186
)
Other current and non-current assets
(2,550
)
(3,025
)
Accounts payable and accruals
(5,063
)
(519
)
Deferred revenue
1,012
2,416
Net cash provided by (used in)
operating activities
4,032
(9,250
)
Cash flows from investing
activities:
Purchases of property and equipment
(878
)
(2,453
)
Capitalized internal-use software
costs
(6,546
)
(8,866
)
Purchases of investments
(28,721
)
(17,156
)
Sales of investments
10,299
—
Proceeds from maturities of
investments
14,700
16,575
Net cash used in investing
activities
(11,146
)
(11,900
)
Cash flows from financing
activities:
Finance lease payments
(4
)
(67
)
Tax-related withholding of common
stock
(99
)
(69
)
Proceeds from issuance of common stock
under employee stock plans
3,538
2
Net cash provided (used in) by
financing activities
3,435
(134
)
Effects of currency exchange rates on
cash, cash equivalent, and restricted cash
436
580
Net decrease in cash, cash equivalents,
and restricted cash
(3,243
)
(20,704
)
Cash, cash equivalents, and restricted
cash at the beginning of the period
121,172
156,411
Cash, cash equivalents, and restricted
cash at the end of the period
$
117,929
$
135,707
8x8, Inc.
RECONCILIATION OF GAAP TO
NON-GAAP FINANCIAL MEASURES
(Unaudited, dollars and shares in
thousands except per share amounts)
Three Months Ended June
30,
2021
2020
Costs of Revenue:
GAAP cost of service revenue
$
46,010
$
40,996
Amortization of acquired intangible
assets
(1,066
)
(1,426
)
Stock-based compensation expense and
related employer payroll taxes
(2,040
)
(1,855
)
Severance and contract termination
costs
5
(844
)
Non-GAAP cost of service revenue
$
42,909
$
36,871
Non-GAAP service margin (as a percentage
of service revenue)
$
94,887
68.9
%
$
77,312
67.7
%
GAAP cost of other revenue
$
13,746
$
11,137
Stock-based compensation expense and
related employer payroll taxes
(1,135
)
(837
)
Legal and regulatory costs
5
—
Severance and contract termination
costs
(21
)
(30
)
Non-GAAP cost of other revenue
$
12,595
10,270
Non-GAAP other margin (as a percentage of
other revenue)
$
(2,064
)
(19.6
)%
$
(2,646
)
(34.7
)%
Non-GAAP gross margin (as a percentage of
revenue)
$
92,823
62.6
%
$
74,666
61.3
%
Operating Expenses:
GAAP research and development
$
25,392
$
21,494
Stock-based compensation expense and
related employer payroll taxes
(9,073
)
(6,777
)
Legal and regulatory costs
9
—
Severance and contract termination
costs
(70
)
(371
)
Non-GAAP research and development (as a
percentage of revenue)
$
16,258
11.0
%
$
14,346
11.8
%
GAAP sales and marketing
$
75,915
$
60,150
Amortization of acquired intangible
assets
(219
)
(802
)
Stock-based compensation expense and
related employer payroll taxes
(14,700
)
(5,969
)
Legal and regulatory costs
—
(3
)
Severance and contract termination
costs
(622
)
(496
)
Non-GAAP sales and marketing (as a
percentage of revenue)
$
60,374
40.7
%
$
52,880
43.4
%
GAAP general and administrative
$
26,091
$
25,790
Stock-based compensation expense and
related employer payroll taxes
(10,904
)
(7,996
)
Acquisition and integration costs
—
(143
)
Legal and regulatory costs
532
(1,513
)
Severance and contract termination
costs
(871
)
(863
)
Non-GAAP general and administrative (as a
percentage of revenue)
$
14,848
10.0
%
$
15,275
12.5
%
Non-GAAP Operating Expenses (as a
percentage of revenue)
$
91,480
61.7
%
$
82,501
67.7
%
Other Expense, Net:
GAAP other expense, net
$
(4,823
)
$
(3,925
)
Debt amortization expense
4,394
4,126
Sublease income
(39
)
—
Non-GAAP other income and expense (as a
percentage of revenue)
$
(468
)
(0.3
)%
$
201
0.2
%
Operating Profit (Loss)
GAAP loss from operations
$
(38,827
)
$
(37,760
)
Amortization of acquired intangible
assets
1,285
2,228
Stock-based compensation expense and
related employer payroll taxes
37,852
23,434
Acquisition and integration costs
—
143
Legal and regulatory costs
(546
)
1,516
Severance and contract termination
costs
1,579
2,604
Non-GAAP operating profit (loss) (Non-GAAP
operating margin)
$
1,343
0.9
%
$
(7,835
)
(6.4
)%
Pre-Tax Profit (Loss):
GAAP net loss
$
(43,906
)
$
(41,913
)
Amortization of acquired intangible
assets
1,285
2,228
Stock-based compensation expense and
related employer payroll taxes
37,852
23,434
Acquisition and integration costs
—
143
Legal and regulatory costs
(546
)
1,516
Severance and contract termination
costs
1,579
2,604
Debt amortization expense
4,394
4,126
Sublease income
(39
)
—
Non-GAAP net profit (loss)
$
619
0.4
%
$
(7,862
)
(6.5
)%
Provision for income taxes
256
228
Non-GAAP pre-tax profit (loss) (as a
percentage of revenue)
$
875
0.6
%
$
(7,634
)
(6.3
)%
Shares used in computing non-GAAP net loss
per share:
Basic
109,925
103,607
Diluted
117,028
103,607
GAAP net loss per share - Basic and
Diluted
$
(0.40
)
$
(0.40
)
Non-GAAP pre-tax profit (loss) per share -
Diluted
$
0.01
$
(0.07
)
Non-GAAP net profit (loss) per share -
Diluted
$
0.01
$
(0.08
)
8x8, Inc.
SELECTED OPERATING &
FINANCIAL METRICS
(Unaudited, dollars in
millions)
Fiscal 2021
Fiscal 2022
Q1
Q2
Q3
Q4
Q1
TOTAL ARR ($m) (1)
$
432
$
467
$
494
$
518
$
536
Total ARR Growth % (YoY)
30
%
20
%
20
%
22
%
24
%
ARR BY SEGMENT
SMALL BUSINESS (3)
% of Total ARR
37
%
35
%
33
%
32
%
32
%
Growth % (YoY)
12
%
6
%
8
%
7
%
7
%
MID-MARKET (4)
% of Total ARR
20
%
19
%
19
%
19
%
19
%
Growth % (YoY)
24
%
25
%
23
%
22
%
22
%
ENTERPRISE (5)
% of Total ARR
43
%
46
%
48
%
49
%
49
%
Growth % (YoY)
54
%
31
%
29
%
34
%
40
%
Total # of Customers >$100K ARR
606
670
734
761
824
(1)
Annualized Recurring
Subscriptions and Usage (“ARR”) equals the sum of the most recent
month of (i) recurring subscription amounts and (ii) platform usage
charges for all CPaaS customers (subject to a minimum billings
threshold for a period of at least six consecutive months),
multiplied by 12.
(2)
Small business ARR is defined as
ARR from customers that generate < $25K ARR.
(3)
Mid-market ARR is defined as ARR
from customers that generate $25K to $100K ARR.
(4)
Enterprise ARR is defined as ARR
from customers that generate > $100K ARR.
Selected operating and financial metrics presented in this
document have not been, and were not derived from financial
measures that have been, prepared in accordance with US Generally
Accepted Accounting Principles. 8x8 provides these selected
operating and key business metrics to assist investors in
evaluating the company's operations and assessing its prospects.
8x8’s management periodically reviews these selected operating and
key business metrics to evaluate 8x8’s operations, allocate
resources, and drive financial performance in the business.
Management monitors these metrics together, and not individually,
as it does not make business decisions based upon any single
metric. 8x8 is not aware of any uniform standards for defining
these selected operating and key business metrics and caution that
its presentation may not be consistent with that of other
companies; prior period metrics and customer classifications have
not been adjusted for current period changes unless noted.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210804005911/en/
8x8, Inc.
Investor Relations: investor.relations@8x8.com
or
Media: John Sun 1-408-692-7054 john.sun@8x8.com
8x8 (NYSE:EGHT)
Historical Stock Chart
From Mar 2024 to Apr 2024
8x8 (NYSE:EGHT)
Historical Stock Chart
From Apr 2023 to Apr 2024