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8X8 (EGHT)

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
Subsidiaries
8x8 International Holdings Co. • LeChat, Inc. • 8x8 Romania Holdings, LLC • Optoriot Asia Holdings, Inc. • 8x8 International, Inc. • 8x8 International Pty Ltd. • 8x8 UK Limited • API Telecom Limited • 8x8 International SRL • 8x8 Servicios Mexico, S.R.L. de C.V. ...
IRS number
770142404

EGHT stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 May 22
26 Jun 22
31 Mar 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 100.71M 100.71M 100.71M 100.71M 100.71M 100.71M
Cash burn (monthly) 36.09M 1.7M 15.52M 14.65M (no burn) (no burn)
Cash used (since last report) 103.78M 4.9M 44.61M 42.12M n/a n/a
Cash remaining -3.07M 95.81M 56.1M 58.6M n/a n/a
Runway (months of cash) -0.1 56.2 3.6 4.0 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Jun 22 Zinn Matthew Common Stock Sell Dispose S No No 5.65 422 2.38K 306,899
21 Jun 22 Samuel C. Wilson Common Stock Sell Dispose S No No 5.65 862 4.87K 580,050
17 Jun 22 David Sipes Common Stock Grant Acquire A No No 0 543,305 0 1,074,833
17 Jun 22 Samuel C. Wilson Common Stock Sell Dispose S No Yes 5.5125 2,000 11.03K 580,912
16 Jun 22 David Sipes Common Stock Sell Dispose S No No 5.2738 20,714 109.24K 531,528
16 Jun 22 David Sipes Common Stock Sell Dispose S No No 5.2738 18,726 98.76K 552,242
16 Jun 22 Samuel C. Wilson Common Stock Sell Dispose S No No 5.2738 12,960 68.35K 216,804
16 Jun 22 Samuel C. Wilson Common Stock Sell Dispose S No No 5.2738 10,772 56.81K 229,764
15 Jun 22 David Sipes Common Stock Grant Acquire A No No 0 38,250 0 570,968
15 Jun 22 Samuel C. Wilson Common Stock Grant Acquire A No No 0 19,890 0 240,536
93.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 188 207 -9.2%
Opened positions 27 29 -6.9%
Closed positions 46 32 +43.8%
Increased positions 88 83 +6.0%
Reduced positions 44 67 -34.3%
13F shares Current Prev Q Change
Total value 1.4B 5.57B -74.9%
Total shares 111.04M 109.35M +1.5%
Total puts 2.01M 875.9K +129.5%
Total calls 405.7K 1.02M -60.3%
Total put/call ratio 5.0 0.9 +478.4%
Largest owners Shares Value Change
BLK Blackrock 18.25M $229.79M +6.0%
Vanguard 14.38M $181.04M +14.8%
Sylebra Capital 14M $176.3M +1.3%
ArrowMark Colorado 9.68M $121.84M +16.3%
Tiger Global Management 9M $113.31M 0.0%
MS Morgan Stanley 4.78M $60.14M -18.5%
STT State Street 4.48M $56.34M +7.5%
Archon Capital Management 2.82M $35.48M +15.1%
Geode Capital Management 2M $25.13M +8.0%
Jacobs Levy Equity Management 1.77M $22.27M NEW
Largest transactions Shares Bought/sold Change
Massachusetts Financial Services 0 -2.66M EXIT
Vanguard 14.38M +1.85M +14.8%
Jacobs Levy Equity Management 1.77M +1.77M NEW
Norges Bank 0 -1.74M EXIT
ArrowMark Colorado 9.68M +1.36M +16.3%
MS Morgan Stanley 4.78M -1.09M -18.5%
BLK Blackrock 18.25M +1.03M +6.0%
DB Deutsche Bank AG - Registered Shares 651.16K -908.24K -58.2%
BMO Bank of Montreal 1.51M +751.96K +99.5%
Technology Crossover Management VIII 690.14K +690.14K NEW

Financial report summary

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Competition
LumenVerizon CommunicationsAT&TMicrosoftCisco SystemsNICEComcastVonageFive9RingCentral
Risks
  • Our business is subject to a number of risks that may adversely affect our business, financial condition, results of operations, and cash flows. These risks are discussed more fully below and include, but are not limited to:
  • Risks Related to our Business and Industry
  • Risks Related to our Products and Operations
  • Risks Related to Regulatory Matters
  • Risks Related to Intellectual Property
  • Risks Related to our Debt, our Stock, and our Charter
  • Risks Related to our Business and Industry
  • 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 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 retain and sell additional services to our existing customers.
  • Intense competition for new customers and retention of 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 the difficulty in predicting when sales will be completed has increased.
  • 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 is 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 (i.e., 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.
  • The conflict between Russia and Ukraine and related sanctions could negatively impact us.
  • 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.
  • 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 debt.
  • We may not have the ability to raise the funds necessary to settle conversions of the notes in cash or 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.
  • Changes in financial accounting standards or practices, such as changes in the accounting method for our convertible debt securities that may be settled in cash, may cause adverse, unexpected financial reporting fluctuations and affect our reported operating 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.
  • Current and future variants of COVID-19 and any economic difficulty they trigger 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 ending in March are greater than in any of the first three quarters of the fiscal year. We believe this occurs because our enterprise and mid-market customers 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. This is partially offset by seasonal weakness in our CPaaS revenue in the fourth quarter due to national holidays in the Asia-Pacific region.
  • The results of operations for fiscal 2022, and the discussion below, includes approximately ten weeks of Fuze's results of operations since its acquisition on January 18, 2022.
  • Service revenue increased for fiscal 2022, as compared to fiscal 2021, primarily due to a net increase in our installed base of mid-market and enterprise customers, expanded deployments by existing customers, growth in related telecom usage by our customers, and our acquisition of Fuze in January 2022, which contributed approximately $23.9 million in service revenue for fiscal 2022. The increase in service revenue reflected sales of our UCaaS and CCaaS solutions, increased adoption of our XCaaS integrated communication and collaboration platform, and growth in sales of our UCaaS direct routing solution for Microsoft Teams users. 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 58,000 customers on March 31, 2021 to more than 60,000 customers on March 31, 2022.

Content analysis

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