Mon, Mar. 16, 4:30 PM
- Cloud solutions firm 8x8 (NASDAQ:EGHT) gained 3.2% today as it announced a platinum supplier partnership with Intelisys.
- Intelisys -- master agent for telecom consultants and value-added resellers, under contract with more than 85 telecom carriers and tech partners -- will add 8x8's software-as-a-service communications services suite to its portfolio.
- EGHT is down 18% YTD.
Mon, Mar. 2, 9:08 AM
- After wrapping its $15M repurchase program, 8x8 (NASDAQ:EGHT) has approved a new program authorizing $20M in repurchases of common stock.
- The previous program was announced last July and wrapped a couple of weeks ago.
- The company had $188M in cash and equivalents at the end of 2014.
- Shares are down 19% YTD and -30% over the past year.
Fri, Jan. 23, 4:46 PM
- Though 8x8 (NASDAQ:EGHT) met FQ3 estimates, its total business customers only rose by 617 Q/Q to 41,051 - a smaller gain than FQ2's 1,094 and the year-ago period's 2,079.
- On the CC (transcript), CFO Mary Ellen Genovese attributed the slowdown to "the end-of-life reduction of very small iTEL Connect customers which we acquired in 2008 and an emphasis on the part of our SMB team on selling larger deals." She added 8x8 expects this trend to continue as the SMB team keeps focusing on bigger deals and iTEL customers continue declining.
- CEO Vik Verma stated 8x8's SMB sales team, which has historically focused on deals involving less than 50 lines, is now selling deals "that we would have traditionally had sold through our mid-market channel." He also notes 8x8 is facing off against larger service providers as it expands in the mid-market, and argues the company's patents allow it to differentiate its cloud-based telecom services.
- While customer growth slowed, business ARPU rose to $305 from $299 in FQ2 and $274 a year ago. Also, churn was 1%, up slightly from 0.9% in FQ2 but down from 1.5% a year ago. Sales/marketing spend rose 28% Y/Y to $20.6M, and R&D spend 16% to $3.9M.
- FQ3 results, PR
Thu, Jan. 22, 4:14 PM
Wed, Jan. 21, 5:35 PM
Oct. 24, 2014, 3:57 PM
Oct. 23, 2014, 9:10 AM
Oct. 22, 2014, 6:34 PM
- 8x8 (NASDAQ:EGHT) added 1,004 business customers in FQ2, raising the total base to 40,434. In addition, average monthly service revenue per business customer rose $6 Q/Q and $31 Y/Y to $299.
- Monthly business service churn was 0.9%, up from FQ1's 0.4% but down from 1.2% a year ago. Service margin slipped to 79% from 80% in FQ1 and 81% a year ago.
- Not counting a $1M patent sale gain, opex rose 34% Y/Y to $38.1M, outpacing revenue growth of 29%. Sales/marketing spend rose 42% to $19.4M.
- FQ2 results, PR
Oct. 22, 2014, 4:13 PM
Oct. 21, 2014, 5:35 PM
- ACTG, ALB, ALGT, AWH, BCR, BDN, CA, CAKE, CLB, CLGX, CLW, CTXS, CVA, EEFT, EFX, EGHT, FTK, FTNT, GGG, IBKC, INFN, LEG, LHO, LOGI, LRCX, MKSI, MKTO, MLNX, MSA, NOW, NXPI, ORLY, OTEX, PLCM, PLXS, RE, RJF, SCSS, SFG, SGMO, SHLM, SKX, SLG, SLM, SUSQ, T, TAL, TCBI, TER, TILE, TMK, TSCO, TYL, USTR, VAR, WFT, YELP
Oct. 14, 2014, 9:44 AM
Jul. 30, 2014, 1:14 PM
- On top of beating Q2 estimates, RingCentral (RNG +18.1%) guided on its CC (transcript) for 2014 revenue of $213M-$216M, above a $209.4M consensus. EPS guidance of -$0.50 to -$0.54 is in-line with a -$0.53 consensus.
- Strong adoption for the RingCentral Office platform (covers VoIP, video, and conferencing services) helped fuel the Q2 beat. The company's monthly recurring subscription revenue run rate rose 9% Q/Q and 38% Y/Y to to $203.7M, with Office's run rate growing 11% Q/Q and 58% Y/Y to $139.2M.
- Gross margin rose 230 bps Y/Y to 63.6%. Heavy sales marketing/spend (46.2% of revenue, up from 42.7% a year ago) continues to pressure EPS. R&D fell to 19% of revenue from 22.2% a year ago, but up in absolute dollars.
- Peer 8x8 (EGHT +3.1%) and software provider BroadSoft (BSFT +2.7%) are following RingCentral higher. All three companies rose last week following 8x8's solid FQ1 report.
Jul. 24, 2014, 2:47 PM
- Following a healthy FQ1, 8x8 (EGHT +10%) expects FY15 (ends March '15) revenue to grow "at least 25%." The company previously guided for FY15 revenue to grow "approximately 25%." Net income is still expected to account for a high-single digit % of revenue.
- Average monthly service revenue per business customer rose to $293 from $287 in FQ4 and $263 a year ago. Notably, churn fell to just 0.4% from 1.2% in both FQ4 and the year-ago period.
- Service revenue rose 29% Y/Y to $34.3M, product revenue rose 32% to $2.8M. A 94% increase in channel/mid-market sales helped fuel the growth.
- GAAP opex rose 42% to $37.4M. Service margin was 80% vs. 79% in FQ4 and 82% a year ago.
- Fellow VoIP/unified communications service providers RingCentral (RNG +4.2%) and Vonage (VG +2.4%) are also rallying, as is software supplier BroadSoft (BSFT +2.8%).
- 8x8's FQ1 results, PR, CC transcript
Jul. 23, 2014, 4:22 PM
Jul. 22, 2014, 5:35 PM
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Jun. 17, 2014, 11:54 AM
- 8x8's (EGHT) U.K. subsidiary has been accepted as a cloud communications service provider by government procurement agency CCS.
- 8x8's VoIP/unified communications services can now be purchased (through an online marketplace) by government agencies supporting the CCS' G-Cloud 5 framework, which aims to boost public sector cloud adoption.
- Shares closed yesterday not far from their 52-week low of $6.68.
EGHT vs. ETF Alternatives
8x8 Inc develops and markets a comprehensive portfolio of unified communications and collaboration services. The Company is a provider of UCC services in the cloud for SMBs and mid-market and distributed enterprises.
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