8x8, Inc. - EGHT STOCK NEWS

8x8, Inc. (NASDAQ: EGHT) has been recognized as a leader in the programmable video market by industry expert Tsahi Levent-Levi in a new report. The report highlights 8x8 Jitsi as a Service (JaaS), part of the 8x8 CPaaS portfolio, as one of the top six competitors among 19 in the industry. 8x8 JaaS received the highest score for solution ability and performance, offering various integration options including open source, hosted, and hybrid.

The report emphasizes 8x8's commitment to customer needs and product reliability. An 8x8 customer, Berst, achieved a 50% reduction in operating costs using the platform. The 8x8 cloud contact center and unified communications platform offers integrated contact center, business phone, team chat, video meetings, and CPaaS capabilities with a financially backed 99.999% uptime SLA.

8x8, Inc. (NASDAQ: EGHT) announced significant momentum for its Customer Experience (CX) AI-powered platform transformation, driving year-over-year contact center growth. Key initiatives include:

1. The Global CX 100 Awards, honoring CX pioneers.

2. The 8x8 CX Tour, a seven-city roadshow showcasing CX best practices.

3. AI-powered innovations enhancing the 8x8 CX Cloud Platform.

Business highlights as of June 30, 2024:

• 9% growth in total 8x8 Contact Center customers
• 35% year-over-year growth in mid-sized enterprises segment
• 40% year-over-year increase in new 8x8 CX product sales
• 200% year-over-year growth in customers using 8x8 Intelligent Customer Assistant
• 25% increase in monthly 8x8 CPaaS digital interactions in the past six months

8x8, Inc. (NASDAQ: EGHT) announced that Summit Fleet, a leading fleet management firm in Australia, has deployed 8x8's cloud contact center and unified communications platform, including 8x8 Voice for Microsoft Teams. The migration, completed in less than six weeks, aims to support Summit Fleet's hybrid workforce, provide cost-effective insights into its contact center, and enhance customer and employee experiences.

Key benefits of the 8x8 platform for Summit Fleet include:

• Advanced reporting functionality
• Intuitive and powerful features
• Affordable pricing
• Improved communication capabilities for hybrid work
• Enhanced employee collaboration and customer service

The platform offers integrated contact center, business phone, team chat, video meetings, and SMS capabilities, with a 99.999% uptime SLA across the integrated cloud UCaaS and CCaaS solution.

8x8, Inc. (NASDAQ: EGHT) reported financial results for Q1 FY2025 ended June 30, 2024. Total revenue was $178.1 million, down from $183.3 million in Q1 FY2024. Service revenue was $172.8 million, compared to $175.2 million in the same period last year. The company reported a GAAP net loss of $10.3 million, an improvement from $15.3 million loss in Q1 FY2024.

8x8 highlighted product innovations, including new AI capabilities across its cloud contact center and unified communications platform. The company also announced the early repayment of its $225 million term loan due in 2027, using proceeds from a new $200 million Delayed Draw Term Loan and cash on hand.

8x8, Inc. (NASDAQ: EGHT) has launched 8x8 Active Assessor, a new AI-powered solution for UK housing associations. This innovative tool enables landlords to proactively engage tenants, meet legal requirements, and ensure homes comply with health and safety standards. The solution helps identify and resolve potential property issues quickly, potentially reducing repair times from weeks to hours.

Key benefits include:

• Enhanced tenant engagement through SMS messaging
• Improved tenant satisfaction with proactive issue identification
• Faster evaluation of early warning signals using video technology
• Trackable information for regulatory compliance
• Intelligent data collection using conversational AI

8x8 Active Assessor aids landlords in meeting Tenant Satisfaction Measures requirements and legal duties under Awaab's Law. The solution is built on 8x8's AI-powered messaging platform and integrates with their existing products.

8x8, Inc. (NASDAQ: EGHT) has announced recent innovations to its cloud platform, enhancing customer and employee experiences. Key updates include:

1. 8x8 Intelligent Customer Assistant now supports voice interactions across multiple regions and languages.

2. Improved AI-powered transcriptions with expanded language support and integration with external CRMs.

3. Meeting summarization feature for easier follow-ups and action items.

4. Proactive Outreach for direct communication via SMS and WhatsApp.

5. Mobile-first Supervisor Workspace for on-the-go contact center management.

6. Silent Mobile Authentication for CPaaS customers, enhancing security and user experience.

7. Native WhatsApp integrations with customer engagement platforms.

These enhancements aim to improve customer engagement across organizations and drive business success.

8x8, Inc. (NASDAQ: EGHT) announced that Regal.io has joined its Technology Partner Ecosystem as part of the exclusive SellWith8 tier. This partnership integrates Regal.io's advanced sales dialing capabilities with 8x8's cloud contact center and unified communications platform. Key benefits include:

• Native integration of Regal.io's journey builder and sales dialer with 8x8's platform
• Enhanced outbound communication services, including calls and SMS
• Improved employee and customer experiences
• Scalable solution for mid-market and enterprise organizations

The partnership aims to empower businesses with tools to leverage customer data and improve proactive outbound engagement. This collaboration exemplifies 8x8's commitment to fostering innovation and providing exceptional customer experiences through its open architecture platform.

8x8, Inc. (NASDAQ: EGHT) has secured a new $200 million Delayed Draw Term Loan Credit Facility with a significantly reduced interest rate. The company plans to use these funds, along with $25 million from existing cash, to prepay its current $225 million Term Loan maturing in August 2027. The new loan's initial interest rate is expected to be SOFR plus 3.00%, approximately 3.6 percentage points lower than the existing loan. This move is anticipated to result in substantial cash interest expense savings. The new loan terms also allow for stock repurchases under certain conditions.

The initial funding is expected in August 2024, subject to closing conditions. The loan will mature on August 15, 2027, and includes customary financial covenants and repayment options. Wells Fargo Securities, MUFG Bank, and Silicon Valley Bank served as joint lead arrangers and bookrunners.

8x8, Inc. (NASDAQ: EGHT), a leading integrated cloud contact center and unified communications platform provider, has announced the schedule for its first quarter fiscal 2025 earnings release and conference call. The company will release its financial results for the quarter ended June 30, 2024, after the market closes on Wednesday, August 7, 2024. A conference call to discuss the results will be held on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The call is expected to last approximately 60 minutes. Interested parties can register to receive dial-in numbers for the live call or access the live webcast and replay from the company's investor relations events and presentations page.