secwatch.observer — SEC 8-K summary
======================================

Issuer:     8X8 INC /DE/ (EGHT)
CIK:        0001023731
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001023731-24-000071
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

8x8 Q1 revenue $178.1M, repays $225M term loan early; net loss improves
-----------------------------------------------------------------------

- Total revenue $178.1M (-2.8% YoY); service revenue $172.8M (-1.4% YoY); both within guidance.
- GAAP net loss improved to $10.3M from $15.3M; non-GAAP net income $10.4M vs $15.5M.
- Adjusted EBITDA $25.8M vs $33.8M prior year, down 24%.
- Early repaid entire $225M term loan due 2027 using $200M new bank loan and $29M cash; debt reduced $146M since Aug 2022.
- Appointed Andrew Burton (commercetools CEO) to board as independent director.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023731/000102373124000071/0001023731-24-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023731/000102373124000071/eght-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001023731-24-000071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer