8x8 Inc. Files 2024 10-K Report
Ticker: EGHT · Form: 10-K · Filed: May 21, 2024 · CIK: 1023731
| Field | Detail |
|---|---|
| Company | 8x8 Inc /De/ (EGHT) |
| Form Type | 10-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $2.52 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
8x8 filed its 2024 10-K, check financials for FY ending March 31.
AI Summary
8x8 Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Campbell, CA, operates in the computer processing and data preparation sector. This filing provides a comprehensive overview of the company's financial health and strategic direction for the past fiscal year.
Why It Matters
This filing is crucial for investors and stakeholders to understand 8x8 Inc.'s financial standing, risks, and future outlook as of March 31, 2024.
Risk Assessment
Risk Level: medium — The filing is a standard annual report, but the company's specific financial performance and market conditions could present medium-level risks.
Key Players & Entities
- 8X8 INC /DE/ (company) — Filer
- 20240331 (date) — Fiscal Year End
- 675 CREEKSIDE WAY (address) — Business and Mail Address
- CAMPBELL (city) — Business and Mail City
- CA (state) — Business and Mail State
- 95008 (zip_code) — Business and Mail Zip Code
- 4087271885 (phone_number) — Business Phone
- NETERGY NETWORKS INC (company) — Former Company Name
- 20000912 (date) — Former Company Name Change Date
- 8X8 INC (company) — Former Company Name
FAQ
What was 8x8 Inc.'s fiscal year end date for this filing?
The conformed period of report, which is the fiscal year end, was March 31, 2024.
What is 8x8 Inc.'s primary business address?
The business address is 675 Creekside Way, Campbell, CA 95008.
What is the SEC file number for 8x8 Inc.'s 10-K filing?
The SEC file number is 001-38312.
When was 8x8 Inc. formerly known as Netergy Networks Inc.?
The date of the name change from Netergy Networks Inc. was September 12, 2000.
What is the SIC code for 8x8 Inc.?
The Standard Industrial Classification code is 7374, which falls under SERVICES-COMPUTER PROCESSING & DATA PREPARATION.
Filing Stats: 4,163 words · 17 min read · ~14 pages · Grade level 17.5 · Accepted 2024-05-21 17:10:13
Key Financial Figures
- $2.52 — 30, 2023, based on the closing price of $2.52 for shares of the Registrant's common s
Filing Documents
- eght-20240331.htm (10-K) — 1877KB
- a8x8_fy24xex41xcapitalstock.htm (EX-4.1) — 16KB
- salzmanservicesletterfin.htm (EX-10.29) — 6KB
- a8x8_fy2410kxex211.htm (EX-21.1) — 7KB
- a8x8_fy2410kxex231.htm (EX-23.1) — 3KB
- a8x8_fy2410kxex311.htm (EX-31.1) — 9KB
- a8x8_fy2410kxex312.htm (EX-31.2) — 9KB
- a8x8_fy2410kxex321.htm (EX-32.1) — 4KB
- a8x8_fy2410kxex322.htm (EX-32.2) — 4KB
- a8x8executivecompensatio.htm (EX-97) — 20KB
- a8x8ex21listofsu_image1a.gif (GRAPHIC) — 30KB
- a8x8executivecompensatio001.jpg (GRAPHIC) — 218KB
- a8x8executivecompensatio002.jpg (GRAPHIC) — 252KB
- a8x8executivecompensatio003.jpg (GRAPHIC) — 277KB
- a8x8executivecompensatio004.jpg (GRAPHIC) — 287KB
- a8x8executivecompensatio005.jpg (GRAPHIC) — 243KB
- a8x8executivecompensatio006.jpg (GRAPHIC) — 112KB
- eght-20240331_g1.jpg (GRAPHIC) — 9KB
- eght-20240331_g2.jpg (GRAPHIC) — 103KB
- salzmanservicesletterfin001.jpg (GRAPHIC) — 235KB
- salzmanservicesletterfin002.jpg (GRAPHIC) — 164KB
- 0001023731-24-000042.txt ( ) — 12974KB
- eght-20240331.xsd (EX-101.SCH) — 60KB
- eght-20240331_cal.xml (EX-101.CAL) — 112KB
- eght-20240331_def.xml (EX-101.DEF) — 336KB
- eght-20240331_lab.xml (EX-101.LAB) — 817KB
- eght-20240331_pre.xml (EX-101.PRE) — 612KB
- eght-20240331_htm.xml (XML) — 1471KB
Forward-Looking Statements and Risk Factors
Forward-Looking Statements and Risk Factors 3 Item 1.
Business
Business 4 Item 1A.
Risk Factors
Risk Factors 12 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.
Properties
Properties 31 Item 3.
Legal Proceedings
Legal Proceedings 31 Item 4. Mine Safety Disclosures 31 Part II. Item 5. Market for Registrant's Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. [Reserved] 33 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 43 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 44 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 75 Item 9A.
Controls and Procedures
Controls and Procedures 75 Item 9B. Other Information 75 Item 9C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 Part III. Item 10. Directors, Executive Officers and Corporate Governance 76 Item 11.
Executive Compensation
Executive Compensation 76 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 76 Item 13. Certain Relationships and Related Transactions and Director Independence 76 Item 14. Principal Accountant Fees and Services 76 Part IV. Item 15. Exhibits and Financial Statement Schedules 77 Item 16. Form 10-K Summary 80
Signatures
Signatures 81 2 PART I
Forward-Looking Statements and Risk Factors
Forward-Looking Statements and Risk Factors the impact of economic downturns on us and our customers; the impact of cost increases and general inflationary pressures, as well as supply chain shortages and disruptions, on our operating expenses; risks related to our secured term
BUSINESS
ITEM 1. BUSINESS Overview 8x8 is a leading global provider of contact center as-a-service, or CCaaS, and unified communications as-a-service, or UCaaS, software, powered by our secure cloud-native communications platform. We also provide embeddable communications platform as-a-service, or CPaaS, allowing customers to seamlessly integrate video and messaging to deliver tailored omni-channel customer experiences that increase customer engagement, loyalty and retention. Together, these solutions comprise the 8x8 XCaaS platform. Our XCaaS platform has been deployed by a broad range of customers, ranging from small businesses to very large enterprises. At the end of fiscal 2024, more than 43% of our annualized recurring and usage revenue, or ARR (see the section entitled "Key Business Metrics" in Part II, Item 7 "MD&A" for how we define and use annualized recurring and usage revenue) was generated by customers deploying both contact center as-a-service and unified communications as-a-service solutions, compared to 40% from the end of fiscal 2023. We had more than 3.0 million paid licensed users at more than 57,000 customers worldwide at the end of the fiscal year. Since mid-fiscal 2023, we have focused a significant portion of our investment in innovation on enhancing our contact center as-a-service solution and expanding our product portfolio to address the requirements of small- and mid-sized enterprises, which we define as enterprise customers with 100 to 10,000 employees. These customers want fully integrated solutions that deliver business outcomes, rather than point products from multiple vendors that they must integrate themselves and that create data silos and analytics gaps. Our routes to market include indirect sales through a variety of channels, including value-added resellers, or VARs, system integrators and technology partners, as well as direct sales to new and existing customers. We have also invested in expanding our customer success organization to