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Mar 31, 2022
8x8 Q4 2022 Earnings Report
Reported a 25% increase in fourth quarter revenue and a positive operating cash flow.
Key Takeaways
8x8, Inc. reported a 25% year-over-year increase in fourth-quarter revenue, reaching $181 million. The company also saw a 20% increase in fiscal year 2022 revenue, totaling $638 million. Enterprise ARR increased by 55% year-over-year, reaching $393 million, and the company achieved positive operating cash flow for both the quarter and the fiscal year.
Fourth quarter revenue increased 25% year-over-year to $181 million.
Fiscal year 2022 revenue increased 20% year-over-year to $638 million.
Enterprise ARR increased 55% year-over-year to $393 million.
Positive operating cash flow of $17 million for the fourth quarter.
8x8
8x8
Forward Guidance
The company provided financial outlook for the first quarter and fiscal year 2023, including expected ranges for total revenue, service revenue, and non-GAAP operating margin.
Positive Outlook
- Service revenue in the range of $177 million to $180 million for Q1 2023, representing year-over-year growth of approximately 30% at the midpoint.
- Total revenue in the range of $185 million to $188 million for Q1 2023, representing year-over-year growth of approximately 26% at the midpoint.
- Non-GAAP operating margin in the range of 2% to 2.5% for Q1 2023.
- Service revenue in the range of $740 million to $755 million for fiscal year 2023, representing year-over-year growth of 24% at the midpoint.
- Total revenue in the range of $775 million to $790 million for fiscal year 2023, representing year-over-year growth of approximately 23% at the midpoint.
Challenges Ahead
- Non-GAAP operating margin in the range of 2% to 3% for fiscal year 2023.
- Forward-looking estimates of non-GAAP operating margin are not reconciled to the corresponding GAAP measures due to the variability and difficulty in making accurate forecasts.
- Future hiring and employee turnover may not be reasonably predictable.
- Stock-based compensation expense depends on variables largely not within the control of management.
- Acquisitions, the timing and nature of which are difficult to predict with accuracy, may significantly impact stock-based compensation expense.