Business
8x8, Inc. Reports Second Quarter Fiscal 2022 Financial Results
Service Revenue Growth of 18% Year-over-Year; Total ARR Increased 18% Year-over-Year CAMPBELL, Calif.--(BUSINESS WIRE)-- 8x8, Inc. (NYSE: EGHT), a leading
About this update from 8x8 Inc
[{"type":"text","content":"\nService Revenue Growth of 18% Year-over-Year; Total ARR Increased 18% Year-over-Year\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\n8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform provider, today reported financial results for the second quarter of fiscal 2022 ended September 30, 2021.\n\nSecond Quarter Fiscal 2022 Financial Results:\n\n\nTotal revenue increased 17% year-over-year to $151.6 million.\n\n\nService revenue increased 18% year-over-year to $142.4 million.\n\n\nGAAP Operating Loss was $37.2 million; Non-GAAP Operating Profit was $1.9 million.\n\n\n“Our second quarter results demonstrated growing adoption and enterprise demand for our integrated 8x8 XCaaS™ (eXperience Communications as a Service™) solution, as well as significant contribution from our channel partners,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “We introduced two significant industry advancements. Frontdesk is our first composed experience that transforms the receptionist role by delivering a tailored experience and user interface that uniquely blends traditional UCaaS and CCaaS capabilities. We also announced the industry's first integrated cloud phone and contact center solution for multinational organizations operating in Russia, which expands our Global Reach™ to 46 countries and territories.”\n\n“Our leadership has been recognized by industry analysts. We were named a Leader in the 2021 Gartner Magic Quadrant for Unified Communications as a Service, Worldwide, for the tenth consecutive year and we were named a Challenger in the Gartner Magic Quadrant for Contact Center as a Service for the seventh consecutive year,\" added Sipes.\n\nSecond Quarter Fiscal 2022 Financial Metrics and Business Highlights:\n\nFinancial Metrics\n\n\nAnnualized Recurring Subscriptions and Usage (ARR):\n\n\nTotal ARR of $553 million, an increase of 18% from the same period last year.\n\n\n871 customers with ARR greater than $100,000, compared to 670 customers in the same period last year, an increase of 30% year-over-year.\n\n\n\n\nGAAP gross margin was 61%, compared with 56% in the same period last year. Non-GAAP gross margin was 64%, compared with 61% in the same period last year.\n\n\nGAAP service revenue gross margin was 67%, compared with 63% in the same period last year. Non-GAAP service revenue gross margin was 69%, compared with ...