Business
8x8, Inc. Reports Fourth Quarter and Fiscal 2020 Financial Results
Fiscal 2020 Total Revenue Increased 27% year-over-year to $446.2 million Total ARR grew 34% in the fiscal fourth quarter CAMPBELL, Calif.--(BUSINESS WIRE)--
About this update from 8x8 Inc
[{"type":"text","content":"\nFiscal 2020 Total Revenue Increased 27% year-over-year to $446.2 million\n\n\nTotal ARR grew 34% in the fiscal fourth quarter\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\n8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the fourth quarter and full-year fiscal 2020 ended March 31, 2020.\n\n\nFourth Quarter Fiscal 2020 Financial Results:\n\n\n\nTotal revenue increased 29.6% year-over-year to $121.5 million.\n\n\nService revenue increased 30.2% year-over-year to $116.0 million.\n\n\nGAAP Pre-Tax Loss was $50.0 million; Non-GAAP Pre-Tax Loss was $12.7 million.\n\n\n\nFull-Year Fiscal 2020 Financial Results:\n\n\n\nTotal revenue increased 26.6% year-over-year to $446.2 million.\n\n\nService revenue increased 27.5% year-over-year to $426.5 million.\n\n\nGAAP Pre-Tax Loss was $171.5 million; Non-GAAP Pre-Tax Loss was $58.6 million.\n\n\n\n\"We delivered solid fourth quarter and full-year results exceeding our guidance range, driven by continued momentum in the channel, mid-market and enterprise markets,” said Vik Verma, Chief Executive Officer at 8x8, Inc. \"During this unprecedented time, 8x8’s cloud-based communications solutions have seen a tremendous surge in usage and provide a critical service supporting customers, partners and communities to stay connected, productive and responsive in remote work environments.”\n\n\n“The digital transformation from on-premise to cloud was a business imperative before COVID-19, and even more so now as legacy systems in the marketplace do not meet evolving business continuity requirements. 8x8 is well positioned to remotely deliver an integrated platform for communications, collaboration, contact center and video meetings for long-term business resiliency,\" added Verma.\n\n\nQ4 F2020 Business Metrics and Highlights:\n\n\nFinancial and Business Metrics\n\n\n\nBookings greater than $100K ARR: The Company closed a record 42 new customer deals in the fourth quarter of fiscal 2020 with ARR (annual recurring revenue) greater than $100,000. These deals represented 34% of new bookings for the quarter.\n\n\nChannel bookings grew 63% year-over-year and represented 54% of new bookings.\n\n\nContact center bookings represented 30% of total new bookings and grew 76% year-over-year.\n\n\nTotal ARR: The Company's total annual recurring reve...