8x8 Q1 FY2024: Non-GAAP operating profit up 161% YoY to $26.4M; cash flow from operations +353% to $26.5M

8X8 INC /DE/

2024-Q1 EPS reported -$0.13 revenue$183,287,000

Total revenue $183.3M (-2% YoY); service revenue $175.2M (-2% YoY).
GAAP operating loss improved to $1.4M from $26.8M; non-GAAP operating profit $26.4M (up 161% YoY).
Cash flow from operations $26.5M, up 353% YoY; voluntarily repaid $25M of Term Loan, reducing principal to $225M.
Total ARR $703M (+2% YoY); enterprise ARR $404M (58% of total).
Appointed Sam Wilson as CEO, Kevin Kraus as CFO, Lisa Martin as CRO; added AI self-service and expanded XCaaS features.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

8X8 INC /DE/ reported first quarter of fiscal 2024 ended June 30, 2023 results: revenue $183.3 million, net income GAAP Net loss was $15.3 million.

Period: first quarter of fiscal 2024 ended June 30, 2023
Revenue: $183.3 million
Net income: GAAP Net loss was $15.3 million
Result: reported results

Exact text from the filing

Total revenue decreased 2% year-over-year to $183.3 million. • Service revenue decreased 2% year-over-year to $175.2 million. • GAAP operating loss was $1.4 million, compared to GAAP operating loss of $26.8 million in the first quarter of fiscal 2023. • Non-GAAP operating profit was $26.4 million, an increase of 161% compared to non-GAAP operating profit of $10.1 million in the first quarter of fiscal 2023. • GAAP Net loss was $15.3 million compared to GAAP net loss of $26.0 million in the first quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0001023731-23-000128

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