8X8 Inc Stock Price, News & Analysis

8x8, Inc. (NYSE: EGHT) reported a robust first quarter for fiscal 2023, with total revenue rising 26% year-over-year to $187.6 million, and service revenue increasing by 30% to $179.2 million. Notable highlights include a significant 54% growth in Enterprise ARR, reaching $403 million, and the successful adoption of 8x8 Voice for Microsoft Teams, now exceeding 200,000 users. The company's cash flow from operations rose to $5.8 million, alongside improvements in gross margins. Looking ahead, management provided updated revenue guidance despite cautionary notes on market conditions.

8x8, Inc. (NYSE: EGHT) has partnered with National Express, the UK’s largest scheduled coach operator, to implement its XCaaS™ integrated cloud communications solution. This collaboration aims to enhance customer experience and employee productivity, particularly for the 80% of contact center agents working remotely. The platform includes secure payment options, ensuring customer privacy, and integrates seamlessly with Salesforce. The partnership reflects a growing demand for adaptable communication solutions in the post-pandemic landscape, catering to changing consumer needs.

8x8, Inc. (NYSE: EGHT) has appointed Suzy Seandel as Senior Vice President and Chief Accounting Officer, with Tim Young joining as Global Vice President, Revenue Operations. Seandel received 243,445 shares, while Young received 269,662 shares in inducement grants, vesting over three years contingent on their continued employment. These appointments aim to strengthen the leadership team. 8x8 provides integrated cloud communications solutions, blending UCaaS and CCaaS for enhanced customer experiences.

8x8, Inc. (NYSE: EGHT) will announce its first quarter financial results for the period ending June 30, 2022, after market close on July 27, 2022. A conference call is scheduled for the same day at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, lasting approximately 60 minutes. 8x8 is recognized as a leading Software as a Service provider in integrated cloud communications, including voice, video, and chat services through its 8x8 XCaaS platform.

8x8, Inc. (NYSE: EGHT) launched the 8x8 Connect Automation Builder, a no-code tool for creating multi-channel communications workflows. This innovative platform targets various organizational roles, enabling users to enhance customer experiences without needing extensive coding skills. Key features include automated workflows, customizable options, drag-and-drop modules, and support for channels like SMS and voice. According to industry analysts, this solution lowers barriers to integrating programmable communications, directly benefiting companies looking to optimize their operations and customer engagement.

8x8, Inc. (NYSE: EGHT) announced the deployment of its XCaaS solution by the London Borough of Hounslow, enhancing communications for over 270,000 residents. The council moved from outdated systems to a unified cloud platform, improving cost-efficiency and customer satisfaction. With utilization of 8x8 Voice for Microsoft Teams, Hounslow aims to streamline services across its healthcare, housing, and employment sectors. This deployment highlights 8x8's growing presence in the U.K. public sector, now active in over one-third of London's boroughs.

8x8, Inc. (NYSE: EGHT) has surpassed 200,000 global business users with its Direct Routing as a Service. The launch of the 8x8 Elevate Microsoft Partner Program aims to assist Microsoft Gold Partners in enhancing their offerings and drive revenue growth through the 8x8 Voice for Microsoft Teams service. This innovative program also features exclusive incentives and executive forums for partners. As enterprises increasingly adopt these solutions amid the shift to remote work, 8x8 continues to expand its global reach, now offering services in 52 countries.

8x8, Inc. (NYSE: EGHT) announced that Swim England implemented its 8x8 XCaaS platform to enhance remote work capabilities and reduce operational costs. The transition from a legacy ISDN system to a cloud-based solution enabled Swim England to cut monthly platform costs by 35%. The new system allows employees to communicate effectively without needing personal mobile numbers, supporting flexibility and collaboration. Kalpesh Parmar, Head of IT at Swim England, noted the swift and seamless transition, crucial during the ongoing digital transformation.

8x8, Inc. (NYSE: EGHT) has expanded its distribution partnership with Ingram Micro Cloud, enhancing its sales strategy for the 8x8 XCaaS™ platform. This agreement enables Ingram Micro's vast network of resellers to market 8x8 XCaaS, an integrated communication solution, helping organizations transition from outdated systems to cloud services. The partnership aims to foster digital transformation, providing resellers with tools and resources to maximize revenue while addressing a growing demand for cloud solutions.