8x8 Q4 2020 Earnings Report
Key Takeaways
8x8, Inc. reported solid fourth quarter and full-year results, exceeding its guidance range. Total revenue increased 29.6% year-over-year to $121.5 million, and service revenue increased 30.2% year-over-year to $116.0 million.
Total revenue increased 29.6% year-over-year to $121.5 million.
Service revenue increased 30.2% year-over-year to $116.0 million.
The Company closed a record 42 new customer deals in the fourth quarter of fiscal 2020 with ARR greater than $100,000.
Channel bookings grew 63% year-over-year and represented 54% of new bookings.
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8x8 Revenue by Segment
Forward Guidance
The Company is providing guidance for the first quarter of fiscal 2021 ending June 30, 2020. With the uncertainty surrounding the ongoing impact of COVID-19, the Company is not providing full-year fiscal 2021 guidance.
Positive Outlook
- Total Revenue in the range of $120.0 million to $121.0 million, representing approximately 24% to 25% year-over-year growth.
- Service Revenue in the range of $112.5 million to $113.5 million, representing approximately 25% to 26% year-over-year growth.
- Non-GAAP Pre-tax Loss of approximately $12.0 million.
- Service Revenue guidance is post-reclassification and excludes Professional Services.
- The historical reporting of Service Revenue, pre-reclassification and includes Professional Services, is anticipated to be in the range of approximately $116.0 million to $117.0 million, representing 26% to 27% year-over-year growth.