8X8 INC /DE/ (EGHT): restructuring charge — 8x8 Q2 FY2024 rev $185M, adj. EBITDA $30.5M, lease impairment $9-10M

8X8 INC /DE/

2024-Q2 EPS reported -$0.19 revenue$368,286,000

Total revenue $185.0M vs $187.4M YoY; service revenue $177.8M.
GAAP net loss $7.5M improved from $11.6M; Non-GAAP net income $17.1M up 182% YoY.
Adjusted EBITDA $30.5M (16% revenue) vs $17.4M (9%) YoY.
Cash from ops $17.5M up 27% YoY; ARR $707M (+2% YoY).
Board approved cessation of 42% HQ space; expects $9-10M non-cash lease impairment in Q3 FY2024.

item 2.02 item 2.06 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

8X8 INC /DE/ reported financial results for the second quarter of fiscal 2024 ended September 30, 2023.

Period: the second quarter of fiscal 2024 ended September 30, 2023
Result: reported results

Exact text from the filing

On November 1, 2023 , the Company issued a press release announcing its financial results for the three months ended September 30, 2023. A copy of this press release is furnished as Exhibit 99.1 to this report

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

8X8 INC /DE/ announced a impairment with charges of between $9.0 million to $10.0 million affecting Company’s headquarters at 675 Creekside Way, Campbell, CA.

Type: impairment
Charge: between $9.0 million to $10.0 million
Affected area: Company’s headquarters at 675 Creekside Way, Campbell, CA

Exact text from the filing

for sublease. The Company intends to cease use of the space on November 1, 2023 and currently estimates it will incur total non-cash lease impairment charges of between $9.0 million to $10.0 million in the quarter ending December 31, 2023. The amounts will be recorded as an impairment of operating lease, right-of-use assets, and may vary in amount and timing

View on SEC.gov

Browse all earnings releases →

8X8 INC /DE/ filing history →

Source: SEC EDGAR

accession 0001023731-23-000150

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.