8X8 Inc Stock Price, News & Analysis

8x8, Inc. (NYSE: EGHT) reported a strong financial performance for Q2 Fiscal 2021, with total revenue rising 17.9% year-over-year to $129.1 million. Service revenue increased 19.3% to $120.9 million. Despite a GAAP pre-tax loss of $38.3 million, the company focused on a solid go-to-market strategy, seeing significant demand, especially in the mid-market and enterprise segments. The total annual recurring revenue (ARR) reached $467.1 million, up 20%. Looking ahead, the company forecasts Q3 revenue between $132.0 million and $133.0 million.

8x8, Inc. (NYSE: EGHT) has announced that the State of Alaska has signed a Participating Addendum with 8x8 under the NASPO ValuePoint Cloud Solutions contract. This agreement allows state, local, and education agencies in Alaska to purchase the 8x8 Open Communications Platform, which integrates voice, team chat, meetings, and contact center services. The platform aims to help agencies transition to cloud communications, enhancing efficiency and constituent experiences. Alaska becomes the first state to leverage this cloud solution, further advancing 8x8’s presence in public sector markets.

8x8, Inc. (NYSE: EGHT) announced its partnership with UK-based Slater and Gordon to implement the 8x8 Open Communications Platform. This initiative aims to enhance legal services and support a 'work anywhere' strategy. The platform replaces outdated telephony systems with integrated voice, team chat, video conferencing, and contact center solutions, promoting collaboration and compliance. Slater and Gordon's agile response during COVID-19 allowed rapid deployment of remote working capabilities. Future plans include leveraging unique CPaaS capabilities for SMS integrations, improving client communications.

8x8, Inc. (NYSE: EGHT) has announced a strategic partnership with Pax8, a leading cloud solutions provider. This collaboration allows Pax8 to offer the 8x8 Open Communications Platform, which integrates voice, team chat, meetings, and contact center solutions into one platform. The partnership aims to enhance digital transformation for organizations while improving partner growth opportunities. Pax8's rapid growth demonstrates its capability to modernize technology stacks and provide partners with simplified buying experiences, enabling further expansion in the cloud market.

8x8, Inc. (NYSE: EGHT) announced it will release its second quarter fiscal 2021 financial results on October 28, 2020, after market close. A conference call to discuss these results will be held at 2:00 PM PT (5:00 PM ET) on the same day. Investors can join the call by dialing (844) 343-9040 domestically or (647) 689-5131 internationally, using passcode 4019669. A telephonic replay will be available until November 4, 2020. 8x8 is a leading provider of integrated cloud communications, offering services like voice, video, chat, and contact center solutions.

8x8, Inc. (NYSE: EGHT) announced the rapid deployment of its Open Communications Platform to Age Scotland, a charity supporting older individuals, within five days. This initiative comes in response to a 500% increase in call volumes due to the global health crisis, necessitating the doubling of Age Scotland's contact center team. The new platform enhances communication and collaboration, allowing Age Scotland to efficiently manage high call volumes and improve service delivery. 8x8's solution aims to future-proof Age Scotland's operations as winter approaches, ensuring they continue to provide vital support.

8x8, Inc. (NYSE: EGHT) has reported a significant increase in app usage among its global business users due to the ongoing shift to remote work. The analysis revealed that business communication and collaboration app usage has more than doubled, resulting in a nearly 2.5X increase in voice calls and a 6X rise in video meetings. Key findings include a 107% increase in the use of desktop and mobile communication apps, a 190% surge in usage on MacOS and Windows, and an 11.5% monthly growth rate in daily call volumes.

8x8, Inc. (NYSE: EGHT) announced that phoenixNAP has adopted its Open Communications Platform to enhance employee and customer engagement. The platform facilitates remote work, ensuring connectivity for over 500 employees worldwide. By transitioning from legacy systems to 8x8's integrated solutions, phoenixNAP improved operational efficiency and business resilience. The deployment includes the 8x8 Contact Center, providing analytics and CRM integration for better customer service. This collaboration enables phoenixNAP to support a mobile workforce, driving productivity and customer satisfaction while reducing operational costs.