8x8 Inc Reports First Quarter Fiscal Year 2025 Financial Results

8x8, Inc. Reports First Quarter Fiscal Year 2025 Financial Results

8x8, Inc. (NASDAQ:EGHT), a leading provider of integrated cloud contact center and unified communications platforms, today announced its financial results for the first quarter of fiscal year 2025, which ended June 30, 2024.

Key Financial Metrics

Professional Interpretation: 8x8, Inc. reported a slight decline in total revenue and service revenue compared to the previous year, which reflects a challenging market environment but also a slight improvement in GAAP net loss. Even though the revenue was in line with Wall Street estimates, non-GAAP operating profit, non-GAAP net income, and adjusted EBITDA all saw declines, indicating a relative decrease in operational efficiency or increased costs in other areas.

Revenue Performance by Segments

Professional Interpretation: The company’s revenue and service revenue were both within the provided guidance ranges, demonstrating effective forecasting and a stable segment performance despite slight year-over-year declines.

Comments from Company Officers

"I am pleased to report that we delivered solid results this quarter, with service revenue, total revenue, and non-GAAP operating margin all within our guidance ranges," said Samuel Wilson, Chief Executive Officer at 8x8, Inc. "Our ongoing innovation and strategic focus are paying off with the continued adoption of our modern CX platform."

"We achieved an important milestone in our stated objective to return value to shareholders by reducing debt with the repayment of the remaining $225 million outstanding on our term loan with Francisco Partners, funded in part by a new bank loan for $200 million," added Kevin Kraus, Chief Financial Officer at 8x8, Inc.

Forward Guidance

Second Quarter Fiscal 2025 Ending September 30, 2024: - Service Revenue: $170 million to $174 million - Total Revenue: $175 million to $181 million - Non-GAAP Operating Margin: Approximately 10% to 11%

Fiscal Year 2025 Ending March 31, 2025: - Service Revenue: $685 million to $707 million - Total Revenue: $710 million to $732 million - Non-GAAP Operating Margin: 10% to 11%

Stock Price Movement

After the earnings release, the stock price of 8x8, Inc. showed an increase, trading up by approximately 1.98%.

In summary, 8x8, Inc. delivered a stable financial performance despite some year-over-year declines, showcasing resilience and strategic focus, complemented by positive market reception.