8x8, Inc. - EGHT STOCK NEWS

8x8, Inc. (EGHT) reported strong Q2 fiscal 2023 results, with total revenue rising 24% year-over-year to $187.4 million. Service revenue grew 25% to $178.6 million, driven by a 42% increase in Enterprise ARR to $401 million. Gross margins improved significantly, with non-GAAP operating profit soaring 368% to $9.1 million. Cash flow from operations surged 171% to $13.8 million. The company is optimistic, raising its non-GAAP operating margin targets for fiscal 2024, aiming for double-digit margins. Recent product innovations and industry recognitions bolster its competitive position.

8x8, Inc. (NYSE: EGHT) has announced it will release its financial results for the second quarter ended September 30, 2022 on October 27, 2022. The results will be shared following the market close, accompanied by a conference call scheduled for 1:30 p.m. PT (4:30 p.m. ET) on the same day. The call will last approximately 60 minutes, allowing an opportunity to discuss key financial highlights and strategic outlook.

To participate, dial-in numbers include 1 844-200-6205 (Domestic) and +1 929-526-1599 (International). Passcode: 602771.

8x8, Inc. (NYSE: EGHT) has partnered with Sweetwater Sound, a leading music technology retailer, to implement its 8x8 Work cloud communications solution. This deployment aims to enhance communication and customer service for Sweetwater's 2,300 employees, who serve over 1.6 million customers. Sweetwater, with over $1.5 billion in revenue, faced challenges with its previous on-premises system. 8x8 Work provides features like voice, video conferencing, and team chat, ensuring high reliabilities and improved customer interactions.

8x8, Inc. (NYSE: EGHT) announces that Cape Air, a major US commuter airline, has adopted 8x8 XCaaS™ to enhance their customer communication capabilities. Cape Air required a modern solution to replace outdated telephony systems, leading to the implementation of 8x8's integrated cloud services. This transition improved call quality and response times, yielding a 90% reduction in duplicate callback requests within a week. The collaboration aligns with Cape Air's growth strategy, enabling swift adaptations to compliance and operational needs.

8x8, Inc. (NYSE: EGHT) has announced its participation in the Bank of America Securities 2022 Media, Communications and Entertainment Conference on September 7, 2022, at 2:00 pm Pacific Time. This event will feature a webcast of the presentation, accessible through the investor relations section of the company's website. As a key player in cloud communications, 8x8 focuses on delivering integrated services such as voice, video, chat, and SMS through its XCaaS™ platform, effectively bridging unified communications and contact center solutions.

8x8, Inc. (NYSE: EGHT) has partnered with AdvancedMD to deploy its XCaaS (eXperience Communications as a Service) solution, enhancing call quality, reliability, and security for healthcare communications. AdvancedMD faced challenges with outdated and insecure communication systems, prompting the transition to a unified platform. The new system improves employee collaboration and customer service while ensuring HIPAA compliance. With a 99.999% uptime SLA, 8x8's solution supports the healthcare sector's needs for secure and efficient communication.

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.