8x8, Inc. - EGHT STOCK NEWS

8x8, Inc. (NYSE: EGHT) has been named a Leader in the 2020 Gartner Magic Quadrant for Unified Communications as a Service for the ninth consecutive year. The recognition underscores the company's commitment to enhancing its cloud communications platform, which supports global enterprises in maintaining connectivity among teams and clients. CEO Vik Verma emphasized the importance of their investments in a single-vendor solution that enables seamless communication across various devices. Additionally, 8x8 was acknowledged as a Challenger in the Gartner Magic Quadrant for Contact Center as a Service.

8x8, Inc. (NYSE: EGHT) reported increased adoption of its 8x8 Voice for Microsoft Teams, providing a robust global telephony solution seamlessly integrated with Microsoft Teams. The service has added hundreds of new customers and tens of thousands of seats across North America, Europe, and Asia-Pacific. Notable new clients include a UK local district council and MSC Mediterranean Shipping Company, collectively utilizing 8x8's advanced telephony features. The company also announced a strategic channel partnership with Pax8, enhancing its market reach and collaboration opportunities.

8x8, Inc. (NYSE: EGHT) has been recognized as a Challenger in the 2020 Gartner Magic Quadrant for Contact Center as a Service. This achievement highlights 8x8's innovative single-platform approach to customer service, which has garnered positive feedback from users, achieving a 4.9 out of 5 rating in North America. The company also maintains its status as a Leader in the Gartner Magic Quadrant for Unified Communications as a Service, underscoring its comprehensive solutions for business communications.

8x8, Inc. (NYSE: EGHT) has been selected by MSC Mediterranean Shipping Company to enhance its global communications through the 8x8 Open Communications Platform. This deployment will impact over 15,000 employees across 493 locations in 155 countries. The 8x8 solution integrates voice, team chat, meetings, and contact center capabilities with Microsoft Teams, allowing for seamless collaboration and improved efficiency. As a result, MSC aims to streamline operations and provide a unified global telephony system while enhancing customer engagement.

8x8, Inc. (NYSE: EGHT) announced key participation in upcoming investor conferences. Management will present at the Morgan Stanley Life After Covid Thematic Conference on November 11 at 3:45 PM ET, the Stephens Inc. Investment Conference on November 19 at 2:00 PM ET, and the Wells Fargo Virtual TMT Summit on December 2 at 11:20 AM ET. Live audio webcasts will be available on the 8x8 Investor Relations website, with replays posted after the events.

8x8, Inc. (NYSE: EGHT) announces the appointment of Germaine Cota as its new Chief Accounting Officer. Reporting to CFO Samuel Wilson, Cota will manage global accounting operations and financial reporting. Since joining in early 2020 as Global Vice President, she has contributed to enhancing operational efficiency and cash flow. Cota, previously CFO at Mercari, Inc., aims to build a top-tier finance organization to support the company’s growth initiatives. Samuel Wilson emphasized her leadership as vital for achieving non-GAAP pre-tax breakeven by March 2021.

8x8, Inc. (NYSE: EGHT) reported a strong financial performance for Q2 Fiscal 2021, with total revenue rising 17.9% year-over-year to $129.1 million. Service revenue increased 19.3% to $120.9 million. Despite a GAAP pre-tax loss of $38.3 million, the company focused on a solid go-to-market strategy, seeing significant demand, especially in the mid-market and enterprise segments. The total annual recurring revenue (ARR) reached $467.1 million, up 20%. Looking ahead, the company forecasts Q3 revenue between $132.0 million and $133.0 million.

8x8, Inc. (NYSE: EGHT) has announced that the State of Alaska has signed a Participating Addendum with 8x8 under the NASPO ValuePoint Cloud Solutions contract. This agreement allows state, local, and education agencies in Alaska to purchase the 8x8 Open Communications Platform, which integrates voice, team chat, meetings, and contact center services. The platform aims to help agencies transition to cloud communications, enhancing efficiency and constituent experiences. Alaska becomes the first state to leverage this cloud solution, further advancing 8x8’s presence in public sector markets.

8x8, Inc. (NYSE: EGHT) announced its partnership with UK-based Slater and Gordon to implement the 8x8 Open Communications Platform. This initiative aims to enhance legal services and support a 'work anywhere' strategy. The platform replaces outdated telephony systems with integrated voice, team chat, video conferencing, and contact center solutions, promoting collaboration and compliance. Slater and Gordon's agile response during COVID-19 allowed rapid deployment of remote working capabilities. Future plans include leveraging unique CPaaS capabilities for SMS integrations, improving client communications.