This year was a relatively successful one for 8x8, the provider of the very first Communications Cloud. They expanded their cloud communications partnership with Regus to cover another 13 countries, launched the "ContactNow" solution for teams in the US, and announced their acquisition of "LeChat", an interoperability platform for enterprise collaboration and messaging. If that wasn't enough, 8x8 also announced their next-generation Communications Cloud, combining UC, team collaboration, real-time analytics, and contact centre solutions in a single platform.
During 2017, 8x8 expanded their leadership team, and were awarded a leadership position in the Gartner Magic Quadrant (MQ) for UC as a Service for the fifth consecutive year. They were also named a challenger in the MQ for Contact Centre as a Service for the second year. 8x8 even received 13 new communications patented in 2017, leading to a total of 131 patents overall.
The Results for the Fourth Financial Quarter
For the fourth quarter of the fiscal year 2017, 8x8 saw:
- An increase in total service revenue of 20% year-over-year, to $62.7 million.
- An increase in service revenue from enterprise and mid-market customers of 32% year-over-year. These markets represented 56% of the customer's total service revenue, compared to 50% last year.
- Total revenue increased 16% year-over-year to $66.5 million
- GAAP net loss of $2.9 million and non-GAAP income of $5.1 million, at 8% of revenue.
- GAAP gross margin of 77% compared to 72% in 2016, and non-GAAP gross margin of 79% compared to 74% in 2016.
- GAAP service margin of 83% compared to 81% in 2016, and non-GAAP service margin of 84% compared to 83% in 2016.
- Cash generated from operating activities of $6.3 million.
Full Fiscal Results for 2017
The full fiscal results for 2017 were equally impressive for 8x8, with:
