8X8 Inc Stock Price, News & Analysis

8x8 (NASDAQ: EGHT) has appointed Joel Neeb as Chief Transformation and Business Operations Officer, reporting directly to CEO Samuel Wilson. Neeb will lead the company's CX transformation initiatives and drive operational excellence. He brings significant experience from his previous role as Vice President of Execution and Transformation at VMware, where he led cultural transformation and AI strategy implementation for 40,000 employees.

Prior to VMware, Neeb served as CEO at Afterburner, Inc., managing elite professionals from military backgrounds. His military experience includes serving as a former U.S. Air Force F-15 mission commander, leading 300 combat pilots and managing a $150 million annual flight program.

This appointment aligns with 8x8's recent brand evolution and the launch of the 8x8 Platform for CX, which integrates contact center, unified communications, and communication APIs with AI-powered capabilities.

8x8 (NASDAQ: EGHT) has announced a strategic partnership with Descope as their exclusive Asia Pacific partner. The collaboration integrates Descope's drag-and-drop customer identity and access management (CIAM) platform with 8x8's CPaaS APIs.

The integration enables organizations to create customized user journeys through visual workflows, implementing modern login processes like social logins, passkeys, and one-time passwords. Organizations using Descope have reported a 50% reduction in authentication-related support tickets and 30-40x cost reduction by avoiding in-house authentication system development.

This partnership aims to enhance security and efficiency in customer experience while providing seamless authentication processes through 8x8's Platform for CX, which combines Contact Center, Unified Communication, and CPaaS APIs.

8x8 (NASDAQ: EGHT) has received multiple prestigious industry awards for its CX platform innovations. The company was named a Leader in the 2024 Gartner Magic Quadrant for Unified Communications as a Service for the thirteenth consecutive year and recognized in the 2024 Gartner Magic Quadrant for Contact Center as a Service for the tenth consecutive year.

Notable achievements include the 2024 Frost & Sullivan Customer Value Leadership Award for Global Public Sector CCaaS Solutions, Silver and Bronze Stevie Awards for their Professional Services organization, and 17 badges in the G2 Fall 2024 Awards. The company also received TrustRadius Tech Cares and Top Rated awards for their unified communications and contact center services.

8x8 (NASDAQ: EGHT) reported strong growth in its FY25 Q2, with sales of new products increasing over 60% year-over-year, driven by AI-powered solutions. The company experienced significant customer adoption metrics, including a 5% quarter-over-quarter growth in Contact Center customers and a 16% year-over-year increase in customers with 250+ agent seats. AI-powered product sales grew more than 200% year-over-year, while the number of customers using 8x8 Intelligent Customer Assistant increased by 200% year-over-year. The platform handled over 94 million CX interactions, representing a 12% year-over-year increase.

8x8 (NASDAQ: EGHT) has unveiled a comprehensive brand transformation, marking a strategic shift towards a more customer-centric future. The rebrand goes beyond aesthetic changes, representing the company's enhanced focus on Customer Experience (CX) transformation. The initiative aligns with 8x8's mission to connect people and organizations through seamless communication, leveraging their integrated platform that combines Contact Center, Unified Communication, and CPaaS APIs. This strategic move responds to evolving CX landscape where customer interactions extend across all employee roles, driven by digital transformation, mobile-first strategies, and AI implementation.

8x8 (NASDAQ: EGHT), a leading business communications and CX platform provider, has announced its participation in three major investor events for Q3 fiscal 2025. The company will attend the Needham and Company Virtual Tech Week on November 20, 2024, for meetings only, the Wells Fargo 8th Annual TMT Summit on December 3, 2024, with a presentation scheduled for 2:15 PM PT, and the Barclays 22nd Annual Global Technology Conference on December 11, 2024, for meetings only.

The Wells Fargo presentation will be webcast live and archived on the company's investor relations website, remaining available for 90 days after the event.

8x8 (NASDAQ: EGHT) has appointed John Pagliuca, President and CEO of N-able (NYSE:NABL), to its Board of Directors, effective November 18, 2024. Pagliuca brings over 20 years of leadership experience in software and SaaS. His background includes executive roles at SolarWinds, LOGICNow, GFI Software, and Airvana, where he helped achieve over $500 million in revenue and led the company's IPO in 2007. With this appointment, 8x8's Board now consists of eight members.

8x8 (NASDAQ: EGHT) has announced significant enhancements to its cloud platform, introducing advanced AI-powered features and expanded customer engagement capabilities. Key improvements include AI-powered transcriptions with enhanced language support, Contact Center Video Elevation for visual customer assistance, and extended availability of Supervisor Workspace. The platform now offers improved call quality for Azure virtual desktop environments, bulk messaging support, and enhanced call queue management. According to Metrigy's report, companies using AI see revenue increases of 17.9%, customer ratings up 22.3%, and agent efficiency improvements of 21.8%.

8x8 Inc reported Q2 FY2025 financial results with total revenue of $181.0 million, down from $185.0 million year-over-year. Service revenue was $175.1 million, compared to $177.8 million in Q2 FY2024. The company achieved GAAP operating income of $7.2 million versus a loss last year, while non-GAAP operating profit was $21.5 million. Sales of new products increased over 60% year-over-year, led by AI-based solutions. The company marked its 15th consecutive quarter of positive cash flow from operations and reduced total debt principal by 32% over two years to $369 million.