|From: Savant||5/20/2015 5:30:12 PM|
|8x8, Inc. Reports Fourth Quarter and Full Year Fiscal 2015 Results|
Fiscal 2015 Revenue of $162.4 Million, Up 26% Year-Over-Year;
Non-GAAP Net Income of $16.2 Million, 10% of Revenue, or $0.18 per Diluted Share
SAN JOSE, Calif.--(BUSINESS WIRE)--May 20, 2015--
8x8, Inc. (NASDAQ:EGHT), a leading provider of cloud-based unified communications and contact center solutions, today announced fourth quarter and full year fiscal 2015 financial results for the period ended March 31, 2015.
-- Q4 total revenue of $43.5 million, up 22% organically year-over-year. -- Q4 GAAP net income of $183,000, or $0.00 per diluted share. -- Q4 Non-GAAP net income of $4.9 million, or $0.05 per diluted share. -- Fiscal 2015 revenue of $162.4 million, up 26% year-over-year and approximately 20% organically. -- Fiscal 2015 GAAP net income of $1.9 million, $0.02 per diluted share. -- Full year fiscal 2015 non-GAAP net income of $16.2 million, or $0.18 per diluted share.
"8x8 ended another record quarter and fiscal year with 26% fiscal 2015 revenue growth and non-GAAP net income of 10% of revenue," said 8x8 CEO Vik Verma. "We achieved these objectives while building a foundation for growth with the expansion of our senior management team and investments in R&D to capitalize on the significant and growing market opportunity for cloud communications solutions that exists worldwide."
Mr. Verma added, "During fiscal 2015, 8x8 made great progress enhancing our cloud communications offerings for the mid-market, solidifying partnerships with industry leading resellers and VARs and rolling out our services to large distributed organizations. As a result of our dedicated focus on integrating our telephony and contact center solutions, optimizing the security and reliability of our services, expanding globally and providing outstanding deployment and support, we believe we are ideally positioned to meet the communications requirements of the highly sought after mid-size and enterprise segments of the market."
Fourth Quarter and Year-to-Date Highlights:
-- New monthly recurring revenue (MRR) sold in the fourth quarter of fiscal 2015 to mid-market customers and by channel sales teams increased 35% year-over-year. -- Service revenue from mid-market customers increased 34% year-over-year and now represents 43% of total service revenue, compared with 39% in the same year ago period. -- Average monthly service revenue per business customer increased 11% year-over-year to a record $320, compared with $287 in the same period last year. -- GAAP service margin was 81%, compared with 79% in the same period a year ago; overall gross margin was 73%, compared with 70% in the same year ago period. -- Monthly business service revenue churn was 0.5%, compared with 1.2% in the same period last year. -- Cash, cash equivalents and investments was $177.1 million in the fourth quarter of fiscal 2015, compared with $178.4 million in the same period last year; cash flow from operating activities was $21.2 million year to date; spent $19.4 million on share repurchase. -- Ended the quarter with 41,621 business customers, up 10% compared with 37,933 customers in the same period a year ago.
Additional Year-to-Date Business Highlights:
-- Introduced new "Enterprise Suite" of services consisting of Virtual Office telephony and UC, Virtual Office Analytics, "Performance Assured" SLA and "Elite Touch" customer support. -- Completed senior management team with the addition of three key executives: Mary Ellen Genovese (CFO), Enzo Signore (CMO) and Puneet Arora (SVP Global Sales). -- Expanded channel partner program with addition of Arrow Systems Integration, Intelisys and CDW. -- Announced technology milestone with awarding of 100th US patent; 104 awarded patents to date. -- Awarded the #1 ranking in the IHS Infonetics' Annual "Cloud UC Service Provider North American Scorecard" report for the second consecutive year.
"We are issuing our guidance for annual revenue of $193 million - $197 million in fiscal 2016, and we expect non-GAAP net income as a percentage of revenue in the 6% - 9% range as we continue to invest in our mid-market and enterprise growth," said Mr. Verma. "We look forward to discussing 8x8's strategy and range of capabilities to address the mid-market opportunity at our upcoming Analyst Day on June 4, 2015."
8x8 also reported, in accordance with NASDAQ Listing Rule 5635(c)(4), that employment inducement awards were granted to 31 new employees in connection with their recent hiring. The employees received restrictive stock units for 271,654 shares of the Company's Common Stock and 229,000 options, subject to their continued employment and other conditions.
Conference Call Information:
Management will host a conference call to discuss these results and other matters related to the Company's business today, May 20, 2015, at 4:30 pm ET. The call is accessible via the following numbers and webcast links:
Dial In: (877) 843-0417, domestic (408) 427-3791, international Replay: (855) 859-2056, domestic (Conference ID # 34784282) (404) 537-3406, international (Conference ID # 34784282) Webcast: investors.8x8.com
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 three hours after the conclusion of the call until midnight May 26, 2015. The webcast will be archived on 8x8's website for a period of one year. For additional information, visit investors.8x8.com.
About 8x8, Inc.
8x8, Inc. (NASDAQ:EGHT) is the trusted provider of secure and reliable cloud-based unified communications and virtual contact center solutions to more than 40,000 businesses operating in over 40 countries across six continents. 8x8's out-of-the-box cloud solutions replace traditional on-premise PBX hardware and software-based systems with a flexible and scalable Software as a Service (SaaS) alternative, encompassing cloud business phone service, contact center solutions, and web conferencing. For additional information, visit www.8x8.com, or www.8x8.com/UK or connect with 8x8 on Google+, Facebook, LinkedIn and Twitter.
The Company has provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). Management uses these non-GAAP financial measures internally in analyzing our financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating the Company's ongoing operational performance. Management believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating 8x8's ongoing operating results and trends and in comparing financial results with other companies in the industry, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below. A reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
Non-GAAP net income and non-GAAP net income per share
We have defined non-GAAP net income as net income for GAAP plus non-cash tax adjustments, stock-based compensation, amortization of acquired intangible assets, acquisition-related costs, gain on patent sale, gain on disposal of discontinued operations and management transition, loss contingency reserve, and gain on escrow settlement. We have excluded gain on patent sale, gain on disposal of discontinued operations, loss contingency reserve and gain on escrow settlement because we consider these to have been isolated transactions and believe these are not reflective of our ongoing operations, and this reduces comparability of periodic operating results when these are included. Non-cash tax adjustments represent the differences between the amount of taxes we expect to pay and our GAAP tax provision each period. We have excluded stock-based compensation expense because it relies on valuations based on future events, such as the market price of our common stock, that are difficult to predict and are affected by market factors that are largely not within the control of management. Amortization of acquired intangible assets is excluded because it is a non-cash expense that we do not consider part of ongoing operations when assessing our financial performance, as it relates to accounting for certain purchased assets. We have excluded acquisition-related expenses and management transition expenses because these expenses are difficult to predict and are often one-time. We define non-GAAP net income per share as non-GAAP net income divided by the weighted-average diluted shares outstanding. We define non-GAAP net income percentage of revenue as non-GAAP net income divided by revenue. The GAAP and non-GAAP weighted average number of diluted shares to calculate GAAP and non-GAAP earnings per share are the same. We believe that such exclusions facilitate comparisons to our historical operating results and to the results of other companies in the same industry, and provides investors with information that we use in evaluating management's performance on a quarterly and annual basis.
Forward Looking Statements
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|From: Savant||6/30/2015 4:56:10 PM|
8x8 Goes On Acquisition Spree With $170M 'War Chest'
by Mark Haranas on June 19, 2015, 5:58 pm EDT
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With more than $170 million in its 'war chest,' cloud-based Unified Communications specialist 8x8 has made several acquisitions in recent weeks to boost its portfolio around its contact center and UC portfolio.
In May, the San Jose, Calif.-based company acquired privately held U.K.-based DXI Ltd., a cloud-based contact center solutions vendor, for just over $26 million in cash and stock with plans to bring DXI services and solutions to the U.S. market by the end of 2015. On Thursday, 8x8 acquired assets of the privately held Delray Beach Fla.-based Quality Software Corp. (QSC) as well as two affiliated companies.
"It's truly a phenomenal time to be at 8x8," said Enzo Signore, chief marketing officer at 8x8. "We definitely have a very strong financial war chest, with over $170 million in cash. We have no debt, and, therefore, you're going to see us, over time, expanding our push in different positions."
[Related: Arrow, 8x8 Push UC Cloud With New Partnership]
Signore declined to comment on whether 8x8 plans to continue its acquisition spree for the remainder of the year, but told CRN to "stay tuned."
In March, 8x8 also revealed its plan to partner with Arrow Systems Integration, Irving, Texas, in another effort to increase its cloud portfolio.
Gartner has named 8x8 as a leader in the UC-as-a-Service space for several years, an area the company will expand with its recent acquisitions and its call center capabilities. The purchases also will deepen its presence in England and help channel partners gain new sales, according to Signore.
"It's a good strategy they're doing," said Todd Carothers, executive vice president of products and marketing at CounterPath, a Vancouver, B.C.-based 8x8 partner. "If you look at what they're doing on those acquisitions around improving user experience for customers, they're heading in the right direction. Competition here comes in the quality of service for someone like 8x8 -- that's why these investments are important."
Carothers said partners will benefit from having a broader portfolio and a better user experience for customers.
"A lot of customers we see in the channel are coming to us because of this issue of bad user experience," said Carothers. "This looks like it's going to help us win those customers."
The acquisition of the QSC business will expand 8x8's pure cloud contact center portfolio to include "innovative" quality management capabilities, such as live monitoring, call recording and detailed analytics, according to Signore. He said QSC solutions are designed to enable a contact center in a more efficient way and will attract customers that are moving from on-premise to cloud-based solutions.
"We'll now serve cloud communication solutions for enterprise customers that are stuck in the past with on-premise, and they want to move to the future with cloud communications," said Signore.
QSC's CEO Ryan Morrissey will become senior director of product strategy at 8x8.
Signore pointed at DXI's EasyContactNow product as a way to allow customers to easily buy, deploy and adapt services without the complexity and constraints experienced with traditional systems.
"DXI's solution will make it easier for our channel partners to penetrate the line of business," said Signore. "We are improving our tremendous portfolio of technologies and helping channel partners as we see a major transition to the cloud."
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|From: TechKim||7/8/2015 6:23:47 PM|
|8x8 Unified Communications Solution Streamlines Communications Between Nine Global Offices for Ad Automation Leader|
With nine global offices and hundreds of employees, effective communication is essential to Rubicon Project. To meet their growing needs, 8x8 provided the modern unified communications its old PBX system lacked.
Unified Communications: Rubicon Project Logo
Rubicon Project is the operator of one of the advertising industry’s largest independent real-time trading platforms for digital advertising, and has engineered one of the largest real-time cloud and Big Data computing systems, processing trillions of transactions within milliseconds each month. The company’s pioneering technology created a new model for the advertising industry—similar to what NASDAQ did for stock trading. Rubicon Project’s automated advertising platform is used by more than 500 of the world’s premium publishers to transact with over 100,000 ad brands globally. To meet their expanding communications requirements, Rubicon Project selected 8x8 to provide 8x8 Virtual Office business VoIP, unified communications and mobile solutions to its nine international locations.
Global Unified Communications Rollout Completed Within Three Weeks
8x8’s cloud-based telephony solutions enabled Rubicon Project to complete its domestic rollout in just five days. Once 8x8 services were deployed in the company’s Los Angeles headquarters and San Francisco, Seattle, Chicago and New York offices, the international rollout began. Within 3 weeks, the entire company, including international offices in Paris, Hamburg, Sydney and London, was united on 8x8’s VoIP telephony platform. “We had a very aggressive schedule because we wanted to complete our implementation by the end of 2013,” said Tim McQuillen, Chief Knowledge Officer of Rubicon Project. “8x8 made a number of promises to us, and kept every single one of them. Without 8x8’s support, we would not have been able to deliver this project on time.”
Unified Communications Solution Enhances Employee Collaboration
Rubicon Project has implemented over 300 8x8 Virtual Office extensions, including mobile apps for iOS and Android devices. Users can take or make calls using their desk phones, PC-based soft phones, or smartphones. A unified company directory and 4-digit extension dialing make it easy to reach colleagues at other offices—even those in other countries. Chat and video capabilities give employees multiple ways to communicate and collaborate, depending on the workflow.
Unified Communications: TIm McQuillen, Chief Knowledge Officer of the Rubicon Project
"“8x8’s cloud telephony services deliver the rich capabilities and voice quality we need with almost zero IT intervention from us. Instead of maintaining hardware, we can focus on running the business.”"
Tim McQuillen, Chief Knowledge Officer at Rubicon Project
Ease of Use, Security, Reliability and International Presence Were Key Criteria
“Our previous hardware-based PBX worked, but lacked modern phone features like extension dialing between offices and voicemail-to-email integration,” said McQuillen. “8x8’s cloud telephony services deliver the rich capabilities and voice quality we need with almost zero IT intervention from us. Instead of maintaining hardware, we can focus on running the business.” “8x8 cloud communications solutions can quickly unify distributed organizations across the country, or around the world, because ease of deployment is built into our solutions,” said 8x8 CEO Vik Verma. “Our deep industry experience in providing unified communications for tens of thousands of companies means we can confidently meet even the most ambitious time frames for our customers.”
SYMBOL: EGHT 8x8
The RUBICON PROJECT IS MASSIVE
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|From: Savant||7/8/2015 6:37:15 PM|
|Rubicon Project...They're happy with 8x8 |
Rubicon Project Uses Hosted VoIP to Beat Tough Deadline for Innovation March 26, 2014, by Vik Verma
One of the most critical roles any CEO plays is “Promise-Keeper-in-Chief,” and I take that responsibility very seriously. That’s why it was so great to hear from Tim McQuillen, Chief Knowledge Officer at Rubicon Project, which is doing awesome things to power its global expansion. 8x8 is honored to be Tim’s choice to help take the company’s business communications to the next level, with hosted VoIP.
Rubicon Project is the rapidly growing operator of one of the advertising industry’s largest independent real-time trading platforms for digital advertising. Think “NASDAQ for ads.” The company has engineered one of the largest real-time cloud and Big Data computing systems, processing trillions of transactions each month, and serving 600 of the world’s premium publishers. A company like that can’t afford to live with substandard unified communications, or even worse, have its unified communications provider fail to deliver on its promise of high-quality hosted VoIP.
Tim recently gave us some great feedback on our performance on some pretty big promises we made when we helped him replace his company’s aging PBX system with hosted VoIP (Voice over Internet Protocol).
8x8 Hosted VoIP Helped Meet a ‘Very Aggressive Schedule’“8x8 made a number of promises to us, and kept every single one of them,” Tim says. “They understood our needs and worked with us to resolve any issues that arose. Without 8x8’s support, we would not have been able to deliver this project on time.”
What was the rush? “Our previous hardware-based PBX worked, but lacked modern phone features like extension dialing between offices and voicemail-to-email integration, and it was not scalable,” says Tim. “We had a very aggressive schedule because we wanted to complete our implementation by the end of 2013.”
Old, Siloed PBXs Create an Urgent Need for Hosted VoIPSo when the company made the switchover to 8x8 cloud hosted VoIP for its unified communications, the schedule was tight. Rubicon Project scheduled the domestic rollout for five days, with the entire company—11 offices, including locations in Paris, Hamburg, Singapore, Tokyo, Sydney and London—moving to the Cloud within three weeks.
Hosted VoIP Helps You Focus on Business Instead of Babysitting Old Hardware Our two companies worked together and made the deadline. And already, Rubicon Project is able to focus on the types of innovation it does best, not on maintaining its unified communications. That’s part of why Tim and Rubicon Project recently received an 8x8 award for innovative use of cloud communications at Enterprise Connect.
“8x8’s hosted VoIP cloud telephony services deliver the rich capabilities and voice quality we need, with almost zero IT intervention from us. Instead of maintaining hardware, we can focus on running the business,” Tim says.
And that is one of the promises of unified communications built on hosted VoIP—you get to focus on what you do best, and quit wasting time on a siloed piece of old hardware that doesn’t integrate with much of anything.
So if you’re like me and have big promises to keep—and big plans for your business—8x8 cloud-hosted VoIP can help. We promise. And we congratulate Rubicon Project and its Chief Knowledge Officer Tim McQuillen once more for their vision and innovation.
Vik is the CEO of 8x8, Inc. A former engineer and self-proclaimed nerd, Vik is a strong believer in building cutting-edge products and solutions that solve real-world customer problems in a cost effective manner. Vik holds degrees in Engineering from Stanford; University of Michigan, Ann Arbor; and Florida Institute of Technology.
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|From: Sr K||10/20/2015 12:03:03 PM|
|NetSuite Taps 8x8 as New Enterprise Cloud Communications Provider for Corporate-Wide Business Phone Service|
BUSINESS WIRE 8:15 AM ET 10/20/15
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|From: TechKim||11/11/2015 2:17:40 PM|
|A TRUE Golden Cross has formed for EGHT. Bullish indicator. |
I have been watching. The basic golden cross was formed about 10 days ago. Today I feel safe in saying that EGHT goes beyond the basic golden cross to the higher level of a TRUE GOLDEN CROSS on the charts.
8x8 known as symbol EGHT
Very bullish chart formation.
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|From: TechKim||11/11/2015 2:39:11 PM|
|I wanted to revise the 8x8 history. We have no moderator. So admin said I have to ask for a vote from EGHT posters in favor of me to moderate. |
Message #4193 from SI Ron (Soup Nazi) at 11/11/2015 2:30:08 PM
Need a new one for the board. If you are interested post a message asking members if you can be mod, if you get enough people to support you, I will make you mod of that board.
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