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Jun 30, 2021
8x8 Q1 2022 Earnings Report
Reported first quarter results with service revenue and total ARR growth year-over-year, and raised fiscal full-year service revenue guidance.
Key Takeaways
8x8, Inc. reported a 22% year-over-year increase in total revenue, reaching $148.3 million, with service revenue growing by 21% to $137.8 million. The company's total ARR grew by 24% year-over-year to $535.8 million. GAAP Operating Loss was $38.8 million, while Non-GAAP Operating Profit was $1.3 million.
Total revenue increased 22% year-over-year to $148.3 million.
Service revenue increased 21% year-over-year to $137.8 million.
Total ARR grew to $535.8 million, an increase of 24% from the same period last year.
Introduced XCaaS (eXperience Communications as a Service) for customer and employee engagement.
8x8
8x8
Forward Guidance
For the second quarter of fiscal 2022, 8x8 anticipates total revenue to be in the range of $147.5 million to $149.0 million, representing approximately 14% to 15% year-over-year growth, and service revenue to be in the range of $138.5 million to $139.5 million, representing approximately 15% year-over-year growth. The company expects to be operating margin positive on a non-GAAP basis. For the full fiscal year 2022, 8x8 is raising its total revenue outlook from $595 million - $605 million to $604 million - $612 million, representing approximately 13% to 15% year-over-year growth, and its service revenue range from $555 million - $565 million to $564 million - $572 million, representing approximately 14% to 15% year-over-year growth. The company maintains its guidance of non-GAAP operating margin to be positive for the remainder of fiscal 2022, with Q4 fiscal 2022 at roughly 2%.
Positive Outlook
- Total revenue in the range of $147.5 million to $149.0 million, representing approximately 14% to 15% year-over-year growth (Q2 2022).
- Service revenue in the range of $138.5 million to $139.5 million, representing approximately 15% year-over-year growth (Q2 2022).
- Expect to be operating margin positive on a non-GAAP basis (Q2 2022).
- Total revenue outlook raised to $604 million to $612 million, representing approximately 13% to 15% year-over-year growth (FY 2022).
- Service revenue range raised to $564 million to $572 million, representing approximately 14% to 15% year-over-year growth (FY 2022).