8x8 Inc. Files Q1 FY2025 10-Q Report

TL;DR

8x8 Q1 FY25 10-Q filed. Check financials.

AI Summary

8x8 Inc. reported its first quarter fiscal year 2025 results for the period ending June 30, 2024. The company's filing details its financial performance, including revenue and expenses, and provides updates on its business operations. Specific financial figures and operational highlights are presented within the report.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial and operational data for 8x8 Inc., crucial for understanding the company's current performance and future outlook.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the tech industry and the company's specific market position introduce inherent risks.

Key Numbers

• Q1 2025 — Fiscal Quarter (Reporting period for the 10-Q filing)
• 2024-06-30 — End Date (End of the reporting period)
• 2024-08-08 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• 8X8 INC /DE/ (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period for the 10-Q
• 20240808 (date) — Date the 10-Q was filed
• 0001023731 (company) — Central Index Key for 8x8 Inc.
• 770142404 (company) — IRS Number for 8x8 Inc.

FAQ

Key Financial Figures

• $0.001 — ich registered COMMON STOCK, PAR VALUE $0.001 PER SHARE EGHT Nasdaq Global Select Mar

Filing Documents

• eght-20240630.htm (10-Q) — 952KB
• a8x8_fy25q1xex311.htm (EX-31.1) — 10KB
• a8x8_fy25q1xex312.htm (EX-31.2) — 9KB
• a8x8_fy25q1xex321.htm (EX-32.1) — 4KB
• a8x8_fy25q1xex322.htm (EX-32.2) — 4KB
• eght-20240630_g1.jpg (GRAPHIC) — 8KB
• 0001023731-24-000073.txt ( ) — 6242KB
• eght-20240630.xsd (EX-101.SCH) — 42KB
• eght-20240630_cal.xml (EX-101.CAL) — 83KB
• eght-20240630_def.xml (EX-101.DEF) — 211KB
• eght-20240630_lab.xml (EX-101.LAB) — 589KB
• eght-20240630_pre.xml (EX-101.PRE) — 424KB
• eght-20240630_htm.xml (XML) — 784KB

Forward-Looking Statements and Risk Factors

Forward-Looking Statements and Risk Factors 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

OTHER INFORMATION

PART II. OTHER INFORMATION 27

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 28 Signature 29 1 Table of Contents

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 delayed draw term loan facility and convertible senior

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements 8X8, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except share and per share amounts) June 30, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 130,764 $ 116,262 Restricted cash 461 356 Short-term investments — 1,048 Accounts receivable, net 59,205 58,979 Deferred sales commission costs 34,625 35,933 Other current assets 32,723 35,258 Total current assets 257,778 247,836 Property and equipment, net 51,400 53,181 Operating lease, right-of-use assets 35,933 35,924 Intangible assets, net 81,618 86,717 Goodwill 266,399 266,574 Restricted cash, non-current — 105 Deferred sales commission costs, non-current 49,199 52,859 Other assets, non-current 13,412 12,783 Total assets $ 755,739 $ 755,979 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 51,727 $ 48,862 Accrued and other liabilities 75,369 78,102 Operating lease liabilities 11,564 11,295 Deferred revenue 33,701 34,325 Total current liabilities 172,361 172,584 Operating lease liabilities, non-current 55,179 56,647 Deferred revenue, non-current 7,659 7,810 Convertible senior notes, non-current 198,033 197,796 Term loan 212,718 211,894 Other liabilities, non-current 5,201 7,290 Total liabilities 651,151 654,021 Commitments and contingencies (Note 7 ) Stockholders' equity: Preferred stock: $ 0.001 par value, 5,000,000 shares authorized, none issued and outstanding as of June 30, 2024 and March 31, 2024 — — Common stock: $ 0.001 par value, 300,000,000 shares authorized, 127,962,761 shares and 125,193,573 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 128 125 Additional paid-in capital 987,171 973,895 Accumulated other comprehensive loss ( 11,912 ) ( 11,553 ) Accumulated deficit ( 870,799 ) ( 860,509 ) Total stockholders' equity 104,588 101,958 Total liabilities and stockholders' equity $ 755,739 $ 755,979 The accompanying notes are an in

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View this 10-Q filing on SEC EDGAR