Business
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
About this update from 8x8 Inc
[{"type":"text","content":"\nService Revenue Growth of 21% Year-over-Year; Total ARR Grew 24% Year-over-Year\n\nRaises Fiscal Full-Year 2022 Service Revenue Guidance to Approximately 14%-15% Year-over-Year Growth\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\n8x8, 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.\n\nFirst Quarter Fiscal 2022 Financial Results:\n\n\nTotal revenue increased 22% year-over-year to $148.3 million.\n\n\nService revenue increased 21% year-over-year to $137.8 million.\n\n\nGAAP Operating Loss was $38.8 million; Non-GAAP Operating Profit was $1.3 million.\n\n\n“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.”\n\nFirst Quarter Fiscal 2022 Business Metrics and Highlights:\n\nFinancial and Business Metrics\n\n\nAnnualized Recurring Subscriptions and Usage (ARR):\n\n\nTotal ARR grew to $535.8 million, an increase of 24% from the same period last year.\n\n\n824 customers generated ARR greater than $100K, compared with 606 customers in the same period last year, a 36% year-over-year growth.\n\n\n\n\nARR growth by customer size:\n\n\nSmall Business customers (defined as companies that generate less than $25K ARR) comprised 32% of total ARR which grew 7% year-over-year.\n\n\nMid-market customers (defined as companies that generate between $25K and $100K ARR) comprised 19% of total ARR which grew 22% year-over-year.\n\n\nEnterprise customers (defined as companies that generate more than $100K ARR) comprised 49% of total ARR which grew 40% year-over-year.\n\n\n\n\nGAAP 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.\n\n\nGAAP 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.\n\n\nCash provided by operating activities was $4.0 million. Cash, restricted cash, ...