8x8 Inc · Q1 2022 earnings

Briefing

Reported first quarter results with service revenue and total ARR growth year-over-year, and raised fiscal full-year service revenue guidance.

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.

Headline financials

Revenue & EPS history

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%.