Business
8x8, Inc. Reports Third Quarter Fiscal 2021 Financial Results
Service revenue growth of 15% year-over-year; Total ARR grew 20% to Approximately $500 million Raises Fiscal Full-Year 2021 Service Revenue Guidance to
About this update from 8x8 Inc
[{"type":"text","content":"\nService revenue growth of 15% year-over-year; Total ARR grew 20% to Approximately $500 million\n\nRaises Fiscal Full-Year 2021 Service Revenue Guidance to Approximately 19% Year-over-Year Growth\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\n8x8, Inc. (NYSE: EGHT), a leading integrated cloud communications platform, today reported financial results for the third quarter of fiscal 2021 ended December 31, 2020.\n\nThird Quarter Fiscal 2021 Financial Results Highlights:\n\n\nTotal revenue increased 15.3% year-over-year to $136.7 million, exceeding the high-end of the Company’s original guidance range of $132.0 to $133.0 million.\n\n\nService revenue increased 15.2% year-over-year to $127.1 million, exceeding the high-end of the Company’s original guidance range of $124.0 to $125.0 million.\n\n\nGAAP Pre-Tax Loss was $39.9 million. Non-GAAP Pre-Tax Loss was $1.9 million and favorable to the Company’s original guidance of $3.0 million loss.\n\n\n“Our integrated communications and contact center cloud platform is winning over mid-market and enterprise customers who value the benefits of a combined solution,” said Dave Sipes, Chief Executive Officer at 8x8, Inc. “We delivered a good quarter that exceeded the high-end of guidance with improving operating performance. I’m pleased to report that we are raising full-year revenue guidance, and also improving our path to profitability.”\n\nQ3 Fiscal 2021 Business Metrics and Highlights:\n\nFinancial and Business Metrics\n\n\nBookings:\n\n\nClosed a record 53 new customer deals in the third quarter of fiscal 2021 with ARR (annual recurring revenue) greater than $100K, an increase of 33% from the same period last year. These deals represented 39% of new bookings for the quarter and included 34 new logo deals.\n\n\nBundled contact center and communications represented 67% of new bookings that were $12K or more in ARR.\n\n\nChannel bookings grew 64% year-over-year and represented 64% of new bookings.\n\n\nContact center new bookings grew 33% year-over-year and represented 31% of total new bookings.\n\n\n\n\n\nAnnual recurring revenue (ARR):\n\n\nTotal ARR grew to $494.3 million, an increase of 20% from the same period last year.\n\n\n734 customers generated ARR greater than $100K, compared with 592 customers in the same period last year, a 24% year-over-year growth.\n\n\nARR growth by customer size:...