8x8, Inc. - EGHT STOCK NEWS

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.

8x8 (NASDAQ: EGHT) has won two 2024 ChannelVision Visionary Spotlight Awards for its 8x8 Contact Center and 8x8 Elevate partner program. Recognized for business technology and overall excellence, these awards highlight 8x8's innovation in communications. The awards were judged based on criteria like innovation, future industry impact, creativity, feature set differentiation, ease of use, and interoperability. The 8x8 Contact Center was noted for rapid innovation, while the Elevate partner program was praised for providing ample opportunities for channel partners. Michelle Paitich, Global VP of Channel Sales at 8x8, emphasized the importance of partner and customer feedback in their ongoing success.

8x8 (NASDAQ: EGHT), a leading provider of cloud contact center and unified communications platforms, has appointed Andrew Burton to its board of directors, effective June 17, 2024. Burton, currently President and COO at Rapid7 (NASDAQ: RPD), brings extensive experience in SaaS and technology, having led global teams in high-growth environments. His leadership spans go-to-market strategies, engineering, and operations. 8x8's CEO, Samuel Wilson, expressed enthusiasm for Burton's appointment, highlighting his expertise in innovative technology and product development. Following this appointment, 8x8's board now comprises seven members.

8x8 (NASDAQ: EGHT) has launched 8x8 Ballot It!, an AI-powered solution designed to enhance electoral engagement and reduce workloads for UK local authorities. This new service integrates with public sector contact centers and websites, offering real-time election information to citizens. It aims to increase voter turnout in regional and national elections by providing relevant data on candidates and polling stations. The solution also aims to relieve local government staff from election-related tasks, thus boosting productivity. 8x8 Ballot It! leverages the conversational AI of 8x8 Intelligent Customer Assistant to deliver customized information through voice and digital channels.

8x8, a leader in cloud contact centers and unified communications, announced its participation in several investor events for Q1 fiscal 2025. The company will present at the 19th Annual Needham & Co. Virtual Presentation on May 16, 10:15 am ET, and the BofA Securities 2024 Global Technology Conference on June 4, 1:40 pm ET. Additionally, it will participate in the B. Riley 24th Annual Institutional Investor Conference on May 22, and the Mizuho Technology Conference on June 12, both for meetings only. 8x8 will also present at the Rosenblatt 4th Annual Technology Summit on June 12, 11:00 am ET. All presentations will be webcast with links available on the company's investor relations website.

8x8 has partnered with Military Makeover's 'Operation Career' to honor military veterans within the company. In celebration of Military Appreciation Month, the show highlighted stories from 8x8's veteran employees, including CEO Samuel Wilson, who is a former U.S. Army Ranger, and other team members with military backgrounds. The partnership aims to showcase the positive impact veterans have in the workplace and 8x8’s commitment to providing resources and mentorship to veterans transitioning to civilian life. The special edition will air on May 16 on Lifetime TV and 8x8’s YouTube channel.

8x8, Inc. (NASDAQ: EGHT) reported fourth-quarter revenue of $179 million and fiscal year 2024 revenue of $729 million. The company saw a 62% increase in cash flow from operations and ended the year with $118 million in cash and investments. Total revenue decreased by 2% from fiscal 2023, but non-GAAP operating profit increased by 52%. The company remains focused on driving innovation and delivering value to customers, partners, employees, and investors for sustained growth and profitability.

8x8, Inc. (NASDAQ: EGHT) announced that Thinktank Group deployed the 8x8 cloud contact center and unified communications platform to enhance customer experience for its multiple white label brands. Thinktank Group, an Australian property lending specialist, grew from 75 to almost 250 employees between 2020 and 2023. By utilizing 8x8, Thinktank Group created distinct toll-free phone lines, branded IVR, and call routing queues for each white label organization, resulting in improved customer experiences, reduced abandoned call rates, and increased first-call resolution rates.