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Dec 31, 2023
8x8 Q3 2024 Earnings Report
Reported third quarter fiscal year 2024 financial results and met guidance ranges for service revenue and total revenue.
Key Takeaways
8x8 reported its Q3 fiscal year 2024 financial results, achieving total revenue of $181 million and service revenue of $175 million. The company met its guidance ranges for service and total revenue and exceeded its non-GAAP operating margin guidance. Cash flow from operations increased 45% year-over-year to $22.4 million.
Total revenue was $181.0 million, compared to $184.4 million in the third quarter of fiscal 2023.
Service revenue was $175.1 million, compared to $175.8 million in the third quarter of fiscal 2023.
GAAP operating loss was $9.4 million, an improvement of 48.1% compared to GAAP operating loss of $18.1 million in the third quarter of fiscal 2023.
Non-GAAP net income was $14.8 million, an increase of 78.5% compared to non-GAAP net income of $8.3 million in the third quarter of fiscal 2023.
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8x8 Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.com Forward Guidance
The company provided financial outlook for the fourth quarter of fiscal year 2024 ending March 31, 2024.
Positive Outlook
- Service revenue is expected to be in the range of $171 million to $175 million.
- Total revenue is expected to be in the range of $176 million to $181 million.
- Non-GAAP operating margin is expected to be approximately 10%.