8X8 Inc Stock Price, News & Analysis

8x8, Inc. (NYSE: EGHT) announced its participation in the Oppenheimer 25th Annual Technology, Internet and Communications Conference. The virtual presentation is scheduled for August 9, 2022, at 12:45 pm PDT. Investors can access live and archived webcasts via the company's investor relations page. 8x8 is recognized for its integrated cloud communications solutions, including XCaaS™, which merges UCaaS and CCaaS.

8x8, Inc. (NYSE: EGHT) has secured a new $250 million senior secured term loan facility led by Francisco Partners. This funding aims to facilitate the repurchase of approximately $60 million of common stock and the cash portion of an exchange for about $404 million in convertible debt due 2024. The term loan matures in July 2027, carrying an interest rate of SOFR plus 6.50%. Additionally, the company issued warrants for 3.1 million shares at an exercise price of $7.15. The transactions reflect 8x8's strategy to enhance operational efficiency and maintain liquidity.

8x8, Inc. announced a significant financial restructuring involving an exchange of approximately $404 million in convertible notes due 2024 for $202 million in new notes due 2028 and cash. Additionally, a $60 million share repurchase aims to reduce outstanding shares by roughly 10.7 million. Funding for these transactions will come from a $250 million term loan led by Francisco Partners. The moves are designed to enhance shareholder value and optimize the company's capital structure.

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.