EGHT 8X8

8x8, Inc. engages in the provision of enterprise communication solutions. Its solutions include industry and business solutions for collections, education, government healthcare, high tech, insurance, call center, call center software, network optimization, and international calls. The company was founded in February 1987 and is headquartered in San Jose, CA.
Company profile
Ticker
EGHT
Exchange
Website
CEO
Vikram Verma
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
8X8 INC, NETERGY NETWORKS INC
SEC CIK
Corporate docs
IRS number
770142404
EGHT stock data
()
News
8x8 Awarded NASPO State Of Washington Contract, Government Agencies Can Purchase 8x8 Cloud Center And Other Platforms Directly From Co. Or Partners; Financial Terms Not Disclosed
22 Feb 21
Craig-Hallum Maintains Buy on 8x8, Raises Price Target to $45
29 Jan 21
8x8: Q3 Earnings Insights
28 Jan 21
8x8 Q3 EPS $(0.02) Beats $(0.03) Estimate, Sales $136.70M Beat $132.81M Estimate
28 Jan 21
Notable After-Hours Earnings For Thursday, Jan. 28, 2021 And Expected Report Times: V, WDC, MSTR, SWKS, X, TEAM, EGHT
28 Jan 21
Press releases
8x8 Named a Leader in 2021 IDC MarketScape for Worldwide UCaaS Service Providers for Enterprise
24 Feb 21
8x8 Awarded NASPO State of Washington Contract, Allowing Public Sector Agencies to Move Employee and Customer Engagement to the Cloud
22 Feb 21
8x8, Inc. Reports Third Quarter Fiscal 2021 Financial Results
28 Jan 21
8x8, Inc. to Host Earnings Call
28 Jan 21
8x8 Makes It Easier for Organizations to Engage, Work, and Manage Interactions Between Employees and Customers
28 Jan 21
Investment data
Securities sold
Number of investors
Calendar
29 Jan 21
8 Mar 21
31 Mar 21
Financial summary
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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) | 122.44M | 122.44M | 122.44M | 122.44M | 122.44M | 122.44M |
Cash burn (monthly) | 4.99M | 6.78M | 13.31M | 14.15M | 599K | 3.83M |
Cash used (since last report) | 11.32M | 15.39M | 30.19M | 32.11M | 1.36M | 8.68M |
Cash remaining | 111.11M | 107.05M | 92.24M | 90.32M | 121.08M | 113.75M |
Runway (months of cash) | 22.3 | 15.8 | 6.9 | 6.4 | 202.1 | 29.7 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
4 Mar 21 | Martin Bryan R | Common Stock | Sell | Dispose S | No | Yes | 33.4289 | 20,517 | 685.86K | 11,693 |
4 Mar 21 | Martin Bryan R | Common Stock | Sell | Dispose S | No | Yes | 32.6825 | 38,179 | 1.25M | 31,996 |
4 Mar 21 | Deklich Dejan | Common Stock | Sell | Dispose S | No | Yes | 33.4167 | 6,689 | 223.52K | 161,641 |
4 Mar 21 | Deklich Dejan | Common Stock | Sell | Dispose S | No | Yes | 32.6787 | 9,940 | 324.83K | 167,006 |
17 Feb 21 | Germaine Cota | Common Stock | Sell | Dispose S | No | Yes | 35.0322 | 6,915 | 242.25K | 53,300 |
15 Feb 21 | Germaine Cota | Common Stock | Sell | Dispose S | No | No | 35.8835 | 3,550 | 127.39K | 58,851 |
15 Feb 21 | Germaine Cota | Common Stock | Sell | Dispose S | No | No | 35.8835 | 4,183 | 150.1K | 62,401 |
13 Feb 21 | Deklich Dejan | Common Stock | Sell | Dispose S | No | No | 35.8835 | 4,272 | 153.29K | 176,946 |
Institutional ownership Q1 2021
8.4% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 1 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 257.85M |
Total shares | 9M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Tiger Global Management | 9M | $257.85M |
Financial report summary
?Competition
Lumen • Verizon Communications • AT&T • Microsoft • NICE • Comcast • Vonage • Five9 • RingCentral • AvayaRisks
- 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 our future revenues, expenditures, 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.
- COVID-19 and any economic difficulty it triggers could significantly harm our business.
- We experience customer churn that adversely impacts our revenues and requires us to spend money to maintain our existing customer base. If we experience further increases in customer churn in the future, our revenue growth will be further adversely impacted and our customer retention costs may 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.
- Our success in the cloud communications market depends in part on our ability to expand and enhance our marketing and sales capabilities, and to develop and maintain effective channels for the sale of our services. If we are not successful in these efforts, we may not be able to increase our revenue in future periods at the rate we predict, or at all.
- Our future revenue growth depends on our ability to hire, develop, and retain our direct sales force as well as our internal channel sales and marketing teams.
- 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.
- If the emerging market for cloud communications services does not continue to grow, our future business could be harmed.
- 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.
- Workforce reductions may not be effective in reducing our operating costs, might have unintended consequences, and could negatively impact our business.
- Taxing authorities may successfully assert 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 could be subject to liability with respect to past or future sales, which 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.
- Risks Related to our Products and Operations
- If we are unable to migrate our customers to our newer X Series suite of services in a timely and efficient manner, we may experience higher customer churn rates, which will adversely impact our revenues and require us to spend more money to acquire and grow our revenue.
- 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 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.
- 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 (such as our acquisition of Wavecell Pte. Ltd. in fiscal 2020) 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.
- Vulnerabilities to security breaches, cyber intrusions and other malicious acts could adversely impact our business.
- Depending on the evolving nature of cyber threats, we may have to significantly increase our investment in maintaining the security of our networks and data, be exposed to significant liability in the event of a cyber breach, or potentially increase the price of our services, and our profitability may be adversely impacted.
- 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.
- 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.
- Failure of our back-end information technology systems to function properly could result in significant business disruption.
- 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.
- 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.
- If we fail to establish and maintain proper and effective internal control over financial reporting, our operating results and our ability to operate our business could be harmed.
- Changes in financial accounting standards or practices may cause adverse, unexpected financial reporting fluctuations and affect our reported operating results.
- Risks Related to Regulatory Matters
- 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.
- If we are not able to meet new requirements to auto-locate E-911 calls, we could be exposed to significant liability or suffer competitive harm.
- Failure of our solutions to comply with outbound dialing regulations could harm our business.
- Efforts to address robo-calling and caller ID spoofing could cause us competitive harm.
- Risks Related to Intellectual Property
- 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.
- Risks Related to our Debt, our Stock, and our Charter
- We may not be able to secure financing on favorable terms, or at all, to meet our future capital needs.
- 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 the 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.
- If securities or industry analysts do not publish research or reports about our business, or if they change their recommendations regarding our stock adversely, our stock price and trading volume could be negatively impacted.
- Certain provisions in our charter documents and Delaware law could discourage takeover attempts.
Management Discussion
- Service revenue increased for the three and nine months ended December 31, 2020, compared with the same period of the previous fiscal year 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.
- We expect total service revenue to grow over time with our expanding platform offering as our business continues to expand globally and across broader customer categories.
- Other revenue increased during the three months and nine months ended December 31, 2020, compared with the same period in the prior fiscal year. The increase was driven by professional services revenue resulting from the overall growth in our business and customer base, partially offset by a decrease in product revenue as a result of shift towards hardware rental program.
Content analysis
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Negative | ||
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Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
appointed, Carlo, categorized, CEO, David, disaggregated, downsell, facility, foreseeable, index, member, Monte, multinational, multiplier, Shareholder, succession, TSR, volatility
Removed:
borrowing, incremental, migration, subscriber, upfront
Financial reports
10-Q
2021 Q3
Quarterly report
29 Jan 21
10-Q
2021 Q2
Quarterly report
29 Oct 20
10-Q
2021 Q1
Quarterly report
4 Aug 20
10-K
2020 FY
Annual report
19 May 20
10-Q
2020 Q3
Quarterly report
5 Feb 20
10-Q
2020 Q2
Quarterly report
31 Oct 19
10-Q
2020 Q1
Quarterly report
31 Jul 19
10-K
2019 FY
Annual report
21 May 19
10-Q
2019 Q3
Quarterly report
29 Jan 19
10-Q
2019 Q2
Quarterly report
7 Nov 18
Current reports
8-K
8x8, Inc. Reports Third Quarter Fiscal 2021 Financial Results
28 Jan 21
8-K
8x8 Appoints Dave Sipes as CEO
10 Dec 20
8-K
Departure of Directors or Certain Officers
2 Nov 20
8-K
8x8, Inc. Reports Second Quarter Fiscal 2021 Financial Results
28 Oct 20
8-K
Submission of Matters to a Vote of Security Holders
13 Aug 20
8-K
8x8, Inc. Reports First Quarter Fiscal 2021 Financial Results
30 Jul 20
8-K
Departure of Directors or Certain Officers
16 Jul 20
8-K/A
8x8, Inc. Appoints Samuel Wilson as Chief Financial Officer
10 Jun 20
8-K
8x8, Inc. Appoints Samuel Wilson as Chief Financial Officer
9 Jun 20
8-K
8x8, Inc. Reports Fourth Quarter and Fiscal 2020 Financial Results
12 May 20
Registration and prospectus
S-8
Registration of securities for employees
18 Dec 20
S-8
Registration of securities for employees
30 Oct 20
S-8
Registration of securities for employees
21 May 20
424B2
Prospectus for primary offering
20 Nov 19
S-3ASR
Automatic shelf registration
18 Nov 19
S-8
Registration of securities for employees
26 Aug 19
S-8
Registration of securities for employees
22 May 19
S-8
Registration of securities for employees
16 Aug 18
S-8
Registration of securities for employees
1 Jun 18
8-A12B
Registration of securities on exchange
30 Nov 17
Proxies
DEFA14A
Additional proxy soliciting materials
30 Jun 20
DEF 14A
Definitive proxy
30 Jun 20
DEFA14A
Additional proxy soliciting materials
17 Jul 19
DEFA14A
Additional proxy soliciting materials
27 Jun 19
DEF 14A
Definitive proxy
27 Jun 19
DEFA14A
Additional proxy soliciting materials
20 Jul 18
DEF 14A
Definitive proxy
9 Jul 18
DEF 14A
Definitive proxy
10 Jul 17
DEF 14A
Definitive proxy
23 Jun 16
DEF 14A
Definitive proxy
24 Jun 15
Other
UPLOAD
Letter from SEC
3 Sep 15
CORRESP
Correspondence with SEC
30 Aug 15
UPLOAD
Letter from SEC
18 Aug 15
UPLOAD
Letter from SEC
29 Sep 14
CORRESP
Correspondence with SEC
23 Sep 14
UPLOAD
Letter from SEC
14 Sep 14
EFFECT
Notice of effectiveness
4 Apr 13
EFFECT
Notice of effectiveness
3 Feb 13
EFFECT
Notice of effectiveness
3 Feb 13
EFFECT
Notice of effectiveness
3 Feb 13
Ownership
4
8X8 / Dejan Deklich ownership change
5 Mar 21
4
8X8 / BRYAN R MARTIN ownership change
5 Mar 21
4
8X8 / Germaine Cota ownership change
18 Feb 21
4
8X8 / Dejan Deklich ownership change
17 Feb 21
4
8X8 / Germaine Cota ownership change
17 Feb 21
SC 13G/A
8X8 / VANGUARD ownership change
10 Feb 21
SC 13G/A
8X8 / BlackRock ownership change
5 Feb 21
4
8X8 / Dejan Deklich ownership change
26 Jan 21
4
8X8 / BRYAN R MARTIN ownership change
26 Jan 21
4
8X8 / Samuel C. Wilson ownership change
26 Jan 21
Patents
GRANT
Utility
Network path selection for routing data
7 Oct 19
Apparatus and methods concerning routing of data in a network disclosed.
GRANT
Utility
Delayed replication for protection of replicated databases
7 Oct 19
Apparatuses and methods are disclosed for protection of data servers configured for data replication of a database.
GRANT
Utility
Virtual telephone extension
7 Oct 19
The present disclosure is directed to a method and system for routing communications.
Transcripts
2021 Q3
Earnings call transcript
29 Jan 21
2021 Q2
Earnings call transcript
28 Oct 20
2021 Q1
Earnings call transcript
31 Jul 20
2020 Q4
Earnings call transcript
13 May 20
2020 Q3
Earnings call transcript
4 Feb 20
2020 Q2
Earnings call transcript
30 Oct 19
2020 Q1
Earnings call transcript
31 Jul 19
2019 Q4
Earnings call transcript
15 May 19
2019 Q3
Earnings call transcript
29 Jan 19
2019 Q2
Earnings call transcript
29 Oct 18