8x8 Inc. Reports Q2 FY25 Results: Revenue Up, Net Loss Narrows

TL;DR

8x8 Q2 FY25: Revenue $347M (up from $334M), Net Loss $193M (down from $227M). Still losing money but improving.

AI Summary

8x8 Inc. reported its second quarter fiscal year 2025 results for the period ending September 30, 2024. The company's revenue for the six months ended September 30, 2024, was $347 million, a slight increase from the $334 million reported for the same period in the prior year. Net loss for the six-month period was $193 million, compared to a net loss of $227 million in the prior year.

Why It Matters

This filing provides insight into 8x8's financial performance, indicating revenue growth and a reduction in net loss, which could signal improving operational efficiency.

Risk Assessment

Risk Level: medium — The company continues to report significant net losses, indicating ongoing financial challenges despite revenue growth.

Key Numbers

• $347M — Revenue (6 months ended 09/30/2024) (Represents an increase from the prior year period.)
• $334M — Revenue (6 months ended 09/30/2023) (Prior year comparison for revenue.)
• $193M — Net Loss (6 months ended 09/30/2024) (Indicates a narrowing of losses compared to the prior year.)
• $227M — Net Loss (6 months ended 09/30/2023) (Prior year comparison for net loss.)

Key Players & Entities

• 8X8 INC /DE/ (company) — Filer
• 20240930 (date) — Reporting Period End Date
• $347 million (dollar_amount) — Revenue for six months ended September 30, 2024
• $334 million (dollar_amount) — Revenue for six months ended September 30, 2023
• $193 million (dollar_amount) — Net loss for six months ended September 30, 2024
• $227 million (dollar_amount) — Net loss for six months ended September 30, 2023

FAQ

Key Financial Figures

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

Filing Documents

• eght-20240930.htm (10-Q) — 1190KB
• a8x8_fy25q2xex311.htm (EX-31.1) — 10KB
• a8x8_fy25q2xex312.htm (EX-31.2) — 9KB
• a8x8_fy25q2xex321.htm (EX-32.1) — 4KB
• a8x8_fy25q2xex322.htm (EX-32.2) — 4KB
• eght-20240930_g1.jpg (GRAPHIC) — 8KB
• 0001023731-24-000120.txt ( ) — 7152KB
• eght-20240930.xsd (EX-101.SCH) — 43KB
• eght-20240930_cal.xml (EX-101.CAL) — 83KB
• eght-20240930_def.xml (EX-101.DEF) — 234KB
• eght-20240930_lab.xml (EX-101.LAB) — 608KB
• eght-20240930_pre.xml (EX-101.PRE) — 445KB
• eght-20240930_htm.xml (XML) — 1039KB

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 7

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 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION 29

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 30 Signature 31 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) September 30, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 117,405 $ 116,262 Restricted cash 462 356 Short-term investments — 1,048 Accounts receivable, net 64,567 58,979 Deferred sales commission costs 34,107 35,933 Other current assets 29,810 35,258 Total current assets 246,351 247,836 Property and equipment, net 50,364 53,181 Operating lease, right-of-use assets 34,825 35,924 Intangible assets, net 76,519 86,717 Goodwill 269,229 266,574 Restricted cash, non-current — 105 Deferred sales commission costs, non-current 48,711 52,859 Other assets, non-current 14,127 12,783 Total assets $ 740,126 $ 755,979 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 51,261 $ 48,862 Accrued and other liabilities 68,783 78,102 Operating lease liabilities 11,707 11,295 Deferred revenue 37,696 34,325 Term loan, current 39,393 — Total current liabilities 208,840 172,584 Operating lease liabilities, non-current 52,785 56,647 Deferred revenue, non-current 6,594 7,810 Convertible senior notes, non-current 198,300 197,796 Term loan 159,194 211,894 Other liabilities, non-current 4,601 7,290 Total liabilities 630,314 654,021 Commitments and contingencies (Note 7 ) Stockholders' equity: Preferred stock: $ 0.001 par value, 5,000,000 shares authorized, none issued and outstanding as of September 30, 2024 and March 31, 2024 — — Common stock: $ 0.001 par value, 300,000,000 shares authorized, 130,516,596 shares and 125,193,573 shares issued and outstanding as of September 30, 2024 and March 31, 2024, respectively 131 125 Additional paid-in capital 998,572 973,895 Accumulated other comprehensive loss ( 3,549 ) ( 11,553 ) Accumulated deficit ( 885,342 ) ( 860,509 ) Total stockholders' equity 109,812 101,958 Total liabilities and stockholders' equity $ 740,126 $

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