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EGHT 8X8

8x8, Inc. is transforming the future of business communications as a leading Software-as-a-Service provider of voice, video, chat, contact center, and API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide to connect individuals and teams so they can collaborate faster and work smarter. Real-time business analytics and intelligence provide businesses unique insights across all interactions and channels so they can delight end-customers and accelerate their business.

Company profile

Ticker
EGHT
Exchange
Website
CEO
Vikram Verma
Employees
Incorporated
Location
Fiscal year end
Former names
8X8 INC, NETERGY NETWORKS INC
SEC CIK
IRS number
770142404

EGHT stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 May 21
17 Jun 21
31 Mar 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from 8X8 earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 121.17M 121.17M 121.17M 121.17M 121.17M 121.17M
Cash burn (monthly) 421K 2.94M 14.95M 13.73M (positive/no burn) 1.17M
Cash used (since last report) 1.08M 7.52M 38.29M 35.16M n/a 3M
Cash remaining 120.09M 113.65M 82.88M 86.01M n/a 118.17M
Runway (months of cash) 285.3 38.7 5.5 6.3 n/a 100.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jun 21 David Sipes Common Stock Buy Aquire P No No 23.47 43,000 1.01M 518,728
18 May 21 Germaine Cota Common Stock Sell Dispose S No Yes 24.3868 1,037 25.29K 48,246
17 May 21 Germaine Cota Common Stock Sell Dispose S No No 23.602 1,466 34.6K 49,283
11 May 21 Salzman Eric Common Stock Option exercise Aquire M No No 4.32 15,000 64.8K 163,247
11 May 21 Salzman Eric Employee Stock Option Common Stock Option exercise Dispose M No No 4.32 15,000 64.8K 60,000
3 May 21 Deklich Dejan Common Stock Sell Dispose S No Yes 33.0889 900 29.78K 136,411
3 May 21 Deklich Dejan Common Stock Sell Dispose S No Yes 32.5 16,477 535.5K 137,311

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 217 EXIT
Opened positions 0 217 EXIT
Closed positions 217 0 NEW
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 3.74B EXIT
Total shares 0 108.57M EXIT
Total puts 0 948.5K EXIT
Total calls 0 1.01M EXIT
Total put/call ratio 0.9
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change
BLK Blackrock 0 -17.72M EXIT
Sylebra Capital 0 -13.38M EXIT
Vanguard 0 -10.79M EXIT
Tiger Global Management 0 -9M EXIT
Whale Rock Capital Management 0 -3.78M EXIT
MS Morgan Stanley 0 -3.61M EXIT
STT State Street 0 -3.45M EXIT
ArrowMark Colorado 0 -3.45M EXIT
Massachusetts Financial Services 0 -3.37M EXIT
WFC Wells Fargo & Co. 0 -1.81M EXIT

Financial report summary

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Competition
LumenVerizon CommunicationsAT&TMicrosoftCisco SystemsNICEComcastVonageFive9RingCentral
Risks
  • We have a history of losses, have incurred significant negative cash flows in the past, and anticipate continuing losses in the future. As such, we may not be able to achieve or maintain profitability in the future.
  • Our future operating results, including revenues, expenses, losses and profits, may vary substantially from period to period and may be difficult to predict. As a result, we may fail to meet or to exceed the expectations of market analysts or investors, which could negatively impact our stock price.
  • Churn in our customer base adversely impacts our revenues and requires us to spend money to retain existing customers and to capture replacement customers. If we experience further increases in customer churn in the future, our revenue growth will be further adversely impacted and our customer retention costs will increase.
  • Our success depends on our ability to acquire new customers, and to retain and sell additional services to our existing customers.
  • Intense competition for new customers and retaining existing customers (including pricing pressure) in the markets in which we compete may prevent us from increasing or sustaining our revenue growth, or achieving and maintaining profitability, which could materially harm our business.
  • Failure to grow and manage our network of indirect sales channels partners could materially and adversely impact our revenues in the future.
  • As we increase sales to enterprise customers, our sales process has become more complex and resource-intensive, our average sales cycle has become longer, and we have more difficulty predicting when sales will be completed.
  • The market for cloud software solutions is subject to rapid technological change, and we depend on new product and service introductions in order to maintain and grow our business.
  • We may have difficulty attracting or retaining senior management and other personnel with the industry experience and technical skills necessary to support our growth.
  • Taxing authorities have asserted that we should have collected or in the future should collect sales and use, value added, or similar taxes, including where similar services from competitors may not be subject to the same obligations to collect taxes from customers, and we have been and could be in the future subject to liability with respect to past or future sales, which have and could adversely affect our business.
  • Our ability to use our net operating losses or research tax credits to offset future taxable income may be subject to certain limitations.
  • If our platform or services experience significant or repeated disruptions, outages or failures due to defects, bugs, vulnerabilities or similar software problems, or if we fail to determine the cause of any disruption or failure and correct it promptly, we could lose customers, become subject to service performance or warranty claims or incur significant costs, reducing our revenues and adversely affecting our operating results.
  • Our physical infrastructure is concentrated in a few facilities (data centers and public cloud providers) and any failure in our physical infrastructure or service outages could lead to significant costs and/or disruptions and could reduce our revenue, harm our business reputation and have a material adverse effect on our financial results.
  • We may not be able to scale our business efficiently or quickly enough to meet our customers' growing needs, leading to increased customer churn and damage to reputation and brand, each of which could harm our operating results.
  • Because our long-term growth strategy involves continued expansion outside the United States, our business will be susceptible to risks associated with international operations.
  • We face risks related to acquisitions now and in the future that may divert our management's attention, result in dilution to our stockholders and consume resources that are necessary to sustain and grow our existing business.
  • If we do not or cannot maintain the compatibility of our communications and collaboration software with third-party applications and mobile platforms that our customers use in their businesses, our revenue could decline.
  • To provide our services, we rely on third parties for our network service and connectivity and any disruption or deterioration in the quality of these services or the increase in the costs we incur from these third parties could adversely affect our business, results of operations and financial condition.
  • We depend on third-party vendors for IP phones and certain software endpoints, and any delay or interruption in supply by these vendors would result in delayed or reduced shipments to our customers and may harm our business.
  • Difficulty executing local number porting requests could negatively impact our business.
  • Vulnerabilities to security breaches, cyber intrusions and other malicious acts could adversely impact our business.
  • We could be liable for breaches of security on our website, fraudulent activities by our users, or the failure of third-party vendors to deliver credit card transaction processing services.
  • Failure to comply with laws and contractual obligations related to data privacy and protection could have a material adverse effect on our business, financial condition and operating results.
  • Our products and services must comply with industry standards, FCC regulations, state, local, country-specific and international regulations, and changes may require us to modify existing services, potentially increase our costs or prices we charge customers, and otherwise harm our business.
  • Efforts to address robo-calling and caller ID spoofing could cause us competitive harm.
  • Our infringement of a third party's proprietary technology could disrupt our business.
  • Inability to protect our proprietary technology would disrupt our business.
  • Our inability to use software licensed from third parties, or our use of open source software under license terms that interfere with our proprietary rights, could disrupt our business.
  • Servicing our debt, including the paying down of principal, requires the use of cash, and we may not have sufficient cash flow from our business to pay down our substantial debt.
  • We may not have the ability to raise the funds necessary to settle conversions of the notes in cash or to repurchase the notes upon a fundamental change, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the notes.
  • The conditional conversion feature of the notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as our notes, could have a material effect on our reported financial results.
  • The capped call transactions entered into in connection with our sale of notes may affect the market value of our common stock.
  • Future sales of our common stock or equity-linked securities in the public market could lower the market price of our common stock.
  • Certain provisions in our charter documents and Delaware law could discourage takeover attempts.
  • COVID-19 and any economic difficulty it triggers could significantly harm our business.
  • We may not be able to secure financing on favorable terms, or at all, to meet our future capital needs.
  • Natural disasters, war, terrorist attacks, global pandemics or malicious conduct, among other unforeseen events, could adversely impact our operations, could degrade or impede our ability to offer services, and may negatively impact our financial condition, revenues and costs going forward.
Management Discussion
  • We have minimal seasonality in our business, but typically, sales of new subscriptions in our fourth fiscal quarter are greater than in any of the first three quarters of the fiscal year. We believe this occurs because the customers we target tend to spend a relatively greater portion of their annual capital budgets at the beginning of the calendar year compared with each of the last three quarters of the year.
  • Service revenue increased for fiscal 2021, as compared with fiscal 2020, primarily due to a net increase in our customer base, expanded offerings to existing customers, and growth in related usage; service revenue from new customers was primarily driven by sales of standalone and bundled UCaaS and CCaaS deals, globally, to our mid-market and enterprise customers. The increase in service revenue was also attributable to growth in usage revenue generated by our CPaaS products primarily in the APAC region. Our service subscriber base grew from approximately 55,000 customers on March 31, 2020 to approximately 58,000 customers on March 31, 2021.
  • Service revenue increased for fiscal 2020, as compared with fiscal 2019, primarily due to a net increase in our customer subscriber base, with the largest part of the increase coming from our mid-market and enterprise customers, who are our fastest growing customer sector, contributing to an increase in the average annual service revenue per customer. This increase was primarily due to organic growth and, to a lesser extent, CPaaS revenue generated in connection with our acquisition of Wavecell in July 2019. Our service subscriber base grew from approximately 52,000 customers on March 31, 2019 to approximately 55,000 customers on March 31, 2020.
Content analysis
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