Business
8x8, Inc. Reports First Quarter Fiscal Year 2025 Financial Results
Service revenue of $173 million and total revenue of $178 million Platform enhancements delivering new AI-based capabilities and solutions to customers
About this update from 8x8 Inc
[{"type":"text","content":"\n\nService revenue of $173 million and total revenue of $178 million\n\n\n\nPlatform enhancements delivering new AI-based capabilities and solutions to customers\n\n\n\nExisting term loan repaid on August 5, 2024 with proceeds of new bank loan and cash on-hand\n\n\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\n8x8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center and unified communications platform provider, today reported financial results for the first quarter of fiscal year 2025 ended June 30, 2024.\n\n\nFirst Quarter Fiscal Year 2025 Financial Results:\n\n\n\nTotal revenue of $178.1 million, compared to $183.3 million in the first quarter of fiscal 2024.\n\n\n\nService revenue of $172.8 million, compared to $175.2 million in the first quarter of fiscal 2024.\n\n\n\nGAAP operating loss was $1.4 million, compared to GAAP operating loss of $1.4 million in the first quarter of fiscal 2024.\n\n\n\nNon-GAAP operating profit was $20.1 million, compared to non-GAAP operating profit of $26.4 million in the first quarter of fiscal 2024.\n\n\n\nGAAP net loss was $10.3 million, compared to GAAP net loss of $15.3 million in the first quarter of fiscal 2024.\n\n\n\nNon-GAAP net income was $10.4 million, compared to non-GAAP net income of $15.5 million in the first quarter of fiscal 2024.\n\n\n\nAdjusted EBITDA was $25.8 million, compared to Adjusted EBITDA of $33.8 million in the first quarter of fiscal 2024.\n\n\n\n\"I am pleased to report that we delivered solid results this quarter, with service revenue, total revenue, and non-GAAP operating margin all within our guidance ranges,\" said Samuel Wilson, Chief Executive Officer at 8x8, Inc. \"Our ongoing innovation and strategic focus are paying off with the continued adoption of our modern CX platform.\n\n\n\"We are seeing accelerated adoption of our solutions to address digital and more complex use cases, and continued to see growth in the number of contact center agents, especially in enterprise customers. We remain focused on leveraging our platform capabilities to deliver superior outcomes for our customers and stakeholders,\" added Wilson.\n\n\nA reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to non-GAAP measures is included in the supplemental reconciliation at the end of this release.\n\n\nRecent Busine...