8x8(EGHT) - 2025 Q2 - Quarterly Results

Revenue Performance - Total revenue for Q2 FY2025 was $181 million, a decrease of 2.2$185 million in Q2 FY2024[2] - Service revenue for Q2 FY2025 was $175 million, down from$177.8 million in Q2 FY2024, representing a decline of 1.6%[2] - Total revenue for FY2025 is projected to be between $714 million and$727 million[9] - Total revenue for Q2 2024 was $180.998 million, a decrease of 2$184.999 million in Q2 2023[27] - Service revenue for Q2 2024 was $175.075 million, down from$177.782 million in Q2 2023, representing a 1% decline[27] Profitability and Loss - GAAP operating income was $7.2 million, compared to a GAAP operating loss of$2.6 million in the same quarter last year[2] - Non-GAAP operating profit was $21.5 million, down from$23.8 million in Q2 FY2024, reflecting a decrease of 9.7%[2] - The company reported a GAAP net loss of $14.5 million, worsening from a net loss of$7.5 million in Q2 FY2024[2] - Net loss for Q2 2024 was $14.543 million, compared to a net loss of$7.452 million in Q2 2023, indicating a worsening of 95%[27] - Non-GAAP Net Income for Q2 2024 was not explicitly stated, but management emphasizes the importance of understanding adjustments for a clearer view of performance[24] Expenses and Cost Management - Research and development expenses for Q2 2024 were $31.291 million, a decrease of 8$34.207 million in Q2 2023[27] - Total operating expenses for Q2 2024 were $116.006 million, down from$130.480 million in Q2 2023, reflecting a reduction of 11%[27] - Non-GAAP cost of service revenue for the three months ended September 30, 2024, was $46,848 thousand, representing 26.8$123,175 thousand, or 68.1%, compared to 69.1% in the same period of 2023[31] - Non-GAAP operating profit for the three months ended September 30, 2024, was $21,538 thousand, or 11.9$117.405 million, slightly up from $116.262 million as of March 31, 2024[29] - Cash, cash equivalents, and restricted cash at the end of the period were$117,867 thousand, down from $145,013 thousand at the end of the previous year[30] - Net cash provided by operating activities decreased to$30,465 thousand from $43,936 thousand year-over-year[30] - The company experienced a net increase in cash and cash equivalents of$1,144 thousand for the six months ended September 30, 2024, compared to an increase of $32,284 thousand in the same period of 2023[30] Debt Management - The company reduced total debt principal by over$173 million, or 32%, over the past two years, bringing the total debt to $369 million[7] - Interest paid for the six months ended September 30, 2024, was$16,324 thousand, compared to $17,799 thousand in the same period of 2023[30] - The company reported a loss on debt extinguishment of$11,996 thousand for the six months ended September 30, 2024, compared to $1,766 thousand in the same period of 2023[30] Recognition and Market Position - 8x8 was recognized as a Leader in the 2024 Gartner Magic Quadrant for Unified Communications as a Service for the thirteenth consecutive year[6] Shareholder Information - The weighted average number of shares outstanding increased to 129.250 million in Q2 2024 from 120.757 million in Q2 2023[27] - Basic GAAP net loss per share for the three months ended September 30, 2023, was$(0.11)[33] - Non-GAAP net income per share (Basic) for the three months ended September 30, 2023, was $0.09[33] - Total shares used in computing diluted net income per share for the three months ended September 30, 2023, was 131,294,000[33]