EGHT rev up, net loss miss, up in afmar $26..55
investors.8x8.com
First Quarter Fiscal 2020 Financial Results:
Total revenue increased 16% year-over-year to $96.7 million. Service revenue increased 18% year-over-year to $92.4 million. GAAP net loss was $34.3 million or $(0.36) per diluted share. Non-GAAP net loss was $14.0 million or $(0.14) per diluted share. “We had a strong first quarter with combined mid-market and enterprise ARR growth of 39% year-over-year, channel bookings growth of 86%, and we exceeded the high-end of our guidance on all key financial metrics,” said Vik Verma, Chief Executive Officer at 8x8, Inc. “Additionally, with the recent acquisition of Wavecell, the leader in communication platform-as-a-service (CPaaS) in Southeast Asia, our combined vision now includes API services for messaging, data and analytics, video, voice and contact center capabilities. This will give our customers a full platform of communications capabilities and insights to build highly personalized interactions with their end customers, all tightly integrated into their apps, mobile apps and websites. No other cloud-based communications provider has one integrated technology platform with voice, chat, video, team messaging, and contact center capabilities. No other CPaaS provider has the ability to deliver this breadth of APIs. Our fully-owned technology platform uniquely positions 8x8 to disrupt the $60 billion total addressable market that’s rapidly moving to the cloud.”
Conference Call Information:
Management will host a conference call to discuss earnings results on July 30, 2019 at 2 p.m. Pacific Time (5 p.m. Eastern Time). The call is accessible via the following numbers and webcast link:
Dial In:
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| (844) 343-9040 Domestic or (647) 689-5131 International; Conference ID #8189139
| Replay:
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| (800) 585-8367 Domestic or (416) 621-4642 International; Conference ID #8189139
| Webcast:
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| investors.8x8.com
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Participants should plan to dial in or log on ten minutes prior to the start time. A telephonic replay of the call will be available until August 20, 2019. The webcast will be archived on 8x8's website for a period of 30 days. For additional information, visit investors.8x8.com.
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