8x8 Q2 2022 Earnings Report
Key Takeaways
8x8, Inc. reported strong second-quarter fiscal 2022 results, demonstrating growing adoption and enterprise demand for its integrated 8x8 XCaaSTM solution. Total revenue increased by 17% year-over-year, and service revenue grew by 18% year-over-year. The company also saw a significant contribution from channel partners and introduced two industry advancements.
Total revenue increased 17% year-over-year to $151.6 million.
Service revenue increased 18% year-over-year to $142.4 million.
GAAP Operating Loss was $37.2 million; Non-GAAP Operating Profit was $1.9 million.
Total ARR of $553 million, an increase of 18% from the same period last year.
8x8
8x8
8x8 Revenue by Segment
Forward Guidance
Management provides expected ranges for total revenue, service revenue and non-GAAP operating margin based on its evaluation of the current business environment.
Positive Outlook
- Total revenue in the range of $152.7 million to $154.2 million, representing approximately 12% to 13% year-over-year growth.
- Service revenue in the range of $144 million to $145 million, representing approximately 13% to 14% year-over-year growth.
- Total revenue increased to a range of $611 million to $615 million from the prior range of $604 million to $612 million.
- The updated outlook represents year-over-year growth of approximately 15% to 16%.
- Service revenue increased to a range of $572.5 million to $576.5 million from the prior range of $564 million to $572 million.
Challenges Ahead
- These expectations are subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements".
- Customer adoption and demand for our products may be lower than we anticipate.
- The impact of economic downturns on us and our customers, including from the COVID-19 pandemic.
- Competitive dynamics of the cloud communication and collaboration markets, including voice, contact center, video, messaging, and communication application programming interfaces ("APIs"), in which we compete may change in ways we are not anticipating.
- Our Investments we make in marketing, channel and value-added resellers (VARs), e-commerce, new products, may not result in revenue growth.