EGHT
$14.55
8X8
$.35
2.46%
Earnings Details
3rd Quarter December 2016
Wednesday, January 25, 2017 4:05:08 PM
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Summary

8x8 Reaffirms

8X8 (EGHT) reported a 3rd Quarter December 2016 loss of $0.01 per share on revenue of $63.7 million. The consensus estimate was a loss of $0.01 per share on revenue of $63.8 million. Revenue grew 19.8% on a year-over-year basis.

The company said it continues to expect fiscal 2017 revenue of $251.0 million to $254.0 million. The current consensus estimate is revenue of $253.1 million for the year ending March 31, 2017.

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.

Results
Reported Earnings
($0.01)
Earnings Whisper
-
Consensus Estimate
($0.01)
Reported Revenue
$63.7 Mil
Revenue Estimate
$63.8 Mil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

8x8, Inc. Reports Third Quarter Fiscal 2017 Financial Results

Mid-Market and Enterprise Service Revenue Increases 36%

--GAAP Net Loss of ($1.3 Million); Non-GAAP Net Income of $5.8 Million

--Cash from Operating Activities of $8.8 Million

8x8, Inc. (EGHT), the leading provider of Enterprise Communications as a Service (ECaaS), today reported financial results for the third quarter of fiscal 2017 ended December 31, 2016.

Third Quarter Fiscal 2017 Financial Results:

Service revenue grew 23% year-over-year to $60.1 million; total revenue grew 20% year-over-year to $63.7 million.

GAAP gross margin was 77%, compared with 72% in the same period last year; non-GAAP gross margin was 79%, compared with 75% in the same period last year.

GAAP service margin was 83%, compared with 80% in the same period last year; non-GAAP service margin was 84%, compared with 83% in the same period last year.

GAAP net loss was ($1.3 million), or ($0.01) per diluted share; non-GAAP net income was $5.8 million, or $0.06 per diluted share.

Cash generated from operating activities was $8.8 million, compared with $8.3 million in the same period last year.

Cash, cash equivalents and investments were $173 million at December 31, 2016, compared with $155 million at December 31, 2015.

"Our financial results for the third quarter of fiscal 2017 were very strong with solid revenue growth and increasing gross and non-GAAP net income margins. Adjusting for constant currency and the discontinued segment of our UK business which we previously reported, service revenue increased 28% and total revenue increased 24%," said 8x8 CEO Vik Verma. "We are continuing to see enterprise customers transition their communications infrastructure to the cloud, evidenced this quarter by the addition of two new enterprise logos, including one Fortune 50 corporation."

"As we prepare for our next phase of growth, we are focused on enhancing our global systems and worldwide customer support organization to better serve the needs of our multinational customers," Verma continued. "We are also further expanding the breadth and capabilities of our platform with a new, recently completed technology acquisition in the collaboration space that will be unveiled in March at the Enterprise Connect Conference."

Additional Third Quarter and Year-to-Date Highlights:

Service revenue from mid-market and enterprise customers grew 36% year-over-year and represents 55% of the Company’s total service revenue.

New monthly recurring revenue (MRR) sold to mid-market and enterprise customers and by channel sales teams accounted for 60% of total new MRR booked in the quarter.

Average monthly service revenue (ARPU) per business customer grew to $414, compared with $369 in the same year ago period; ARPU per mid-market and enterprise customer grew to $4,412, compared with $4,017 in the same year ago period.

Gross monthly revenue churn was 1.0%, compared with 1.2% in the same period last year.

New enterprise Master Service Agreement signed with a Fortune 50 health care corporation to provide services to up to 10,000 users in 450 medical offices.

New enterprise agreement signed with a national retail chain for over 10,000 seats across 3500 locations.

2.0 Global Channel Program and new PartnerConnect Channel Portal launched.

New channel partners Telarus, LANtelligence and PERRY proTECH in North America, and Great Outcomes in NZ added.

Acquired a small, innovative technology company in the collaboration space, completed in early January.

Three new patents awarded related to technology innovations enabling seamless global enterprise communications and enhanced contact center user experience for a total of 128 awarded patents to date.

-- Virtual Office Pro acknowledged with PCMag Editors’ Choice Award.

Virtual Contact Center acknowledged with TMC’s Customer Experience Innovation Award.

8x8 maintained its annual guidance of revenue for fiscal 2017 in the range of $251.0 million to $254.0 million and raised non-GAAP net income guidance to a range of $18.0 to $20.0 million, representing non-GAAP net income as a percent of revenue of 7.0% to 8.0%, from previously issued non-GAAP net income guidance in the range of $16.0 million to $20.0 million.

Conference Call Information:

Management will host a conference call to discuss these results and other matters related to the Company’s business today, January 25, 2017 at 4:30 pm ET. The call is accessible via the following numbers and webcast links:

Dial In:
(877) 843-0417, domestic
(408) 427-3791, international
Replay:
(855) 859-2056, domestic (Conference ID #46149120)
(404) 537-3406, international (Conference ID #46149120)
Webcast:

Participants should plan to dial in or log on ten minutes prior to the start time. A telephonic replay of the call will be available three hours after the conclusion of the call until February 1, 2017. The webcast will be archived on 8x8’s website for a period of one year. For additional information, visit http://investors.8x8.com.

About 8x8, Inc.

8x8, Inc. (EGHT) is the trusted provider of secure and reliable enterprise cloud communications solutions to more than 45,000 businesses operating in over 100 countries across six continents. 8x8’s out-of-the-box cloud solutions replace traditional on-premises PBX hardware and software-based systems with a flexible and scalable Software as a Service (SaaS) alternative, encompassing cloud business phone service, contact center solutions, and conferencing. For additional information, visit www.8x8.com, www.8x8.com/UK or connect with 8x8 on LinkedIn, Twitter, Google+ and Facebook.

Non-GAAP Measures

The Company has provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). Management uses these non-GAAP financial measures internally in analyzing our financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating the Company’s ongoing operational performance. Management believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating 8x8’s ongoing operating results and trends and in comparing financial results with other companies in the industry, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. This reconciliation has been provided in the financial statement tables included below in this press release.

Non-GAAP Net Income and Non-GAAP Net Income Per Share

We have defined non-GAAP net income as net income for GAAP plus non-cash tax adjustments, stock-based compensation, amortization of acquired intangible assets, impairment of long-lived assets, and acquisition-related costs. Non-cash tax adjustments represent the difference between the amount of taxes we expect to pay and our GAAP tax provision each period. We have excluded stock-based compensation expense because it relies on estimates and assumptions about future events, such as our future common stock price and the duration of employee service, as well as valuations that are affected by market factors largely outside management’s control. Amortization of acquired intangible assets is excluded because it is a non-cash expense that we do not consider part of ongoing operations when assessing our financial performance, as it relates to accounting for certain purchased assets. We have excluded impairment of long-lived assets because we consider it to be an isolated transaction and believe it is not reflective of our ongoing operations, and it reduces comparability of periodic operating results when it is included. We have excluded acquisition-related expenses because these expenses are difficult to predict and are often one-time. We define non-GAAP net income per share as non-GAAP net income divided by the weighted-average diluted shares outstanding. We define non-GAAP net income percentage of revenue as non-GAAP net income divided by revenue. The GAAP and non-GAAP weighted average number of diluted shares to calculate GAAP and non-GAAP earnings per share are the same. We believe that such exclusions facilitate comparisons to our historical operating results and to the results of other companies in the same industry, and provides investors with information that we use in evaluating management’s performance on a quarterly and annual basis.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. These statements include, without limitation, information about future events based on current expectations, potential product development efforts, near and long-term objectives, potential new business, strategies, organization changes, changing markets, future business performance and outlook. Such statements are predictions only, and actual events or results could differ materially from those made in any forward-looking statements due to a number of risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, market acceptance of new or existing services and features, success of our efforts to target mid-market and larger distributed enterprises, changes in the competitive dynamics of the markets in which we compete, customer cancellations and rate of churn, impact of current economic climate and adverse credit markets on our target customers, our ability to scale our business, our reliance on infrastructure of third-party network services providers, risk of failure in our physical infrastructure, risk of failure of our software, our ability to maintain the compatibility of our software with third-party applications and mobile platforms, continued compliance with industry standards and regulatory requirements, risks relating to our strategies and objectives for future operations, including the execution of integration plans and realization of the expected benefits of our acquisitions, the amount and timing of costs associated with recruiting, training and integrating new employees, introduction and adoption of our cloud communications and collaboration services in markets outside of the United States, risks regarding compliance with regulations in the United States and foreign jurisdictions in which our services are provided, and general economic conditions that could adversely affect our business and operating results. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company’s reports on Forms 10-K and 10-Q, as well as other reports that 8x8, Inc. files from time to time with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and 8x8, Inc. undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.

8x8, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS
(In thousands, except per share amounts;
unaudited)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
Service revenue
$ 60,149
$ 48,948
$ 173,162
$
140,068
Product revenue
3,527
4,220
13,738
11,935
Total revenue
63,676
53,168
186,900
152,003
Operating expenses:
Cost of service revenue (1)
10,525
9,713
31,597
27,359
Cost of product revenue
4,240
5,087
15,527
14,065
Research and development (2)
7,095
6,404
20,310
17,930
Sales and marketing (3)
35,667
27,585
101,049
78,138
General and administrative (4)
7,852
6,888
21,400
18,614
Total operating expenses
65,379
55,677
189,883
156,106
Loss from operations
(1,703 )
(2,509 )
(2,983 )
(4,103 )
Other income, net
408
272
1,209
710
Loss from operations before provision (benefit) for income taxes
(1,295 )
(2,237 )
(1,774 )
(3,393 )
Provision (benefit) for income taxes
30
(557 )
52
651
Net loss
$ (1,325 )
$ (1,680 )
$
(1,826 )
$
(4,044 )
Net loss per share:
Basic
$
(0.01 )
$
(0.02 )
$
(0.02 )
$
(0.05 )
Diluted
$
(0.01 )
$
(0.02 )
$
(0.02 )
$
(0.05 )
Weighted average number of shares:
Basic
90,774
88,289
90,062
88,812
Diluted
90,774
88,289
90,062
88,812
(1)(2)(3)(4) - See reconciliation of GAAP measures to non-GAAP
measures.
8x8, Inc.
RECONCILIATION OF SELECTED GAAP MEASURES TO
NON-GAAP MEASURES
(In thousands, unaudited)
(1)
Amounts include amortization of acquired intangible assets,
impairment of long-lived assets, and stock-based compensation as
follows:
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP cost of service revenue
$ 10,525
$
9,713
$
31,597
$
27,359
Amortization of acquired intangible assets
(543 )
(618 )
(1,697 )
(1,451 )
Impairment of long-lived assets
-
(440 )
-
(440 )
Stock-based compensation expense
(538 )
(346 )
(1,338 )
(828 )
Non-GAAP cost of service revenue
$
9,444
$
8,309
$
28,562
$
24,640
Non-GAAP cost of service revenue as a percentage of service revenue
15.7 %
17.0 %
16.5 %
17.6 %
(2)
Amounts include stock-based compensation and acquisition related
expenses as follows:
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP research and development
$
7,095
$
6,404
$
20,310
$
17,930
Stock-based compensation expense
(1,061 )
(850 )
(2,811 )
(2,107 )
Acquisition related expenses
-
-
-
(5 )
Non-GAAP research and development
$
6,034
$
5,554
$
17,499
$
15,818
Non-GAAP research and development as a percentage of total revenue
9.5 %
10.4 %
9.4 %
10.4 %
(3)
Amounts include amortization of acquired intangible assets,
impairment of long-lived assets, stock-based compensation, and
acquisition related expenses as follows:
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP sales and marketing
$ 35,667
$ 27,585
$ 101,049
$
78,138
Amortization of acquired intangible assets
(330 )
(384 )
(1,044 )
(1,114 )
Impairment of long-lived assets
(15 )
(200 )
(15 )
(200 )
Stock-based compensation expense
(2,452 )
(1,689 )
(6,118 )
(4,308 )
Acquisition related expenses
-
-
-
(27 )
Non-GAAP sales and marketing
$ 32,870
$ 25,312
$
93,872
$
72,489
Non-GAAP sales and marketing as a percentage of total revenue
51.6 %
47.6 %
50.2 %
47.7 %
(4)
Amounts include stock-based compensation, and acquisition related
expenses as follows:
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP general and administrative
$
7,852
$
6,888
$
21,400
$
18,614
Stock-based compensation expense
(2,020 )
(1,778 )
(5,363 )
(3,959 )
Acquisition related expenses
(78 )
-
(78 )
(1,011 )
Non-GAAP general and administrative
$
5,754
$
5,110
$
15,959
$
13,644
Non-GAAP general and administrative as a percentage of total
9.0 %
9.6 %
8.5 %
9.0 %
revenue
8x8, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In
thousands, unaudited)
December 31,
March 31,
2016
2016
ASSETS
Current assets
Cash and cash equivalents
$
33,457
$
33,576
Short-term investments
139,194
129,274
Accounts receivable, net
13,069
11,070
Inventory
572
520
Deferred tax assets
-
5,382
Other current assets
6,191
6,078
Total current assets
192,483
185,900
Property and equipment, net
15,224
12,375
Intangible assets, net
16,726
21,464
Goodwill
44,327
47,420
Non-current deferred tax asset
48,443
43,189
Other assets
6,645
3,104
Total assets
$
323,848
$
313,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable
$
12,537
$
10,954
Accrued compensation
12,022
10,063
Accrued warranty
290
326
Accrued outside commissions
2,843
2,186
Deferred revenue
2,089
1,925
Other accrued liabilities
8,710
9,280
Total current liabilities
38,491
34,734
Other liabilities
3,082
3,412
Total liabilities
41,573
38,146
Total stockholders’ equity
282,275
275,306
Total liabilities and stockholders’ equity
$
323,848
$
313,452
8x8, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
(In thousands, unaudited)
Nine Months Ended
December 31,
2016
2015
Cash flows from operating activities:
Net loss
$
(1,826 )
$
(4,044 )
Adjustments to reconcile net loss to net cash provided by
operating activities:
Depreciation
4,463
3,598
Amortization of intangible assets
2,741
2,565
Impairment of long-lived assets
15
640
Amortization of capitalized software
442
456
228
584
Net accretion of discount and amortization of premium on
marketable securities
Stock-based compensation expense
15,630
11,202
Deferred income tax (benefit) provision
(104 )
361
Other
574
467
Changes in assets and liabilities:
Accounts receivable, net
(3,267 )
(3,138 )
Inventory
(87 )
(122 )
Other current and noncurrent assets
(1,065 )
(1,699 )
Deferred cost of goods sold
(86 )
(156 )
Accounts payable
1,732
418
Accrued compensation
2,146
3,351
Accrued warranty
(36 )
(17 )
Accrued taxes
(21 )
1,837
Deferred revenue
168
(427 )
Accrued outside commissions
657
256
Other current and noncurrent liabilities
(84 )
(748 )
Net cash provided by operating activities
22,220
15,384
Cash flows from investing activities:
Purchases of property and equipment
(6,509 )
(3,295 )
Purchase of businesses, net of cash acquired
-
(23,434 )
Cost of capitalized software
(3,939 )
(1,275 )
Proceeds from maturity of investments
47,625
38,451
Sales of investments - available for sale
34,821
43,934
Purchase of investments - available for sale
(92,647 )
(90,025 )
Net cash used in investing activities
(20,649 )
(35,644 )
Cash flows from financing activities:
Capital lease payments
(460 )
(321 )
Payment of contingent consideration
(300 )
(200 )
Repurchase of common stock
(2,828 )
(11,628 )
Proceeds from issuance of common stock under employee stock plans
2,694
2,848
Net cash used in financing activities
(894 )
(9,301 )
Effect of exchange rate changes on cash
(796 )
317
Net decrease in cash and cash equivalents
(119 )
(29,244 )
Cash and cash equivalents, beginning of period
33,576
53,110
Cash and cash equivalents, end of period
$
33,457
$
23,866
8x8, Inc.
Selected Operating Statistics
Three Months Ended
Dec. 31,
Mar. 31,
Jun. 30,
Sept. 30,
Dec. 31,
2015
2016
2016
2016
2016
Business customer average monthly service revenue per customer (1)
$
369
$
385
$
399
$
409
$
414
Monthly business service revenue churn (2)(3)
1.2%
0.4%
0.5%
0.6%
1.0%
Overall service margin
80%
81%
81%
81%
83%
Overall product margin
-21%
-18%
-16%
-6%
-20%
Overall gross margin
72%
72%
74%
74%
77%
(1) Business customer average monthly service revenue per customer
is service revenue from business customers in the period divided by
the number of months in the period divided by the simple average
number of business customers during the period.
(2) Business customer service revenue churn is calculated by
dividing the service revenue lost from business customers (after the
expiration of 30-day trial) during the period by the simple average
of business customer service revenue during the same period and
dividing the result by the number of months in the period.
(3) Excludes DXI business customer service revenue churn for all
periods presented.
8x8, Inc.
RECONCILIATION OF NET INCOME (LOSS) TO
NON-GAAP NET INCOME
AND NON-GAAP NET INCOME PER SHARE
(In
thousands, except per share amounts; unaudited)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
Net loss
$ (1,325 )
$ (1,680 )
$ (1,826 )
$
(4,044 )
Adjustments:
Non-cash tax adjustments
49
(326 )
(104 )
361
Amortization of acquired intangible assets
873
1,002
2,741
2,565
Stock-based compensation expense
6,071
4,663
15,630
11,202
Acquisition related expenses
78
-
78
1,043
Impairment of long-lived assets
15
640
15
640
Non-GAAP net income
$
5,761
$
4,299
$ 16,534
$
11,767
Reconciliation between GAAP and non-GAAP weighted average shares
used in computing basic and diluted net loss per share:
Denominator for basic calculation
90,774
88,289
90,062
88,812
Effect of dilutive securities:
Employee stock options
1,792
1,614
1,702
1,595
Employee restricted purchase rights
1,407
1,303
1,723
1,048
Employee stock plan purchases
9
14
8
10
Denominator for diluted calculation
93,982
91,220
93,495
91,465
GAAP net loss per share - Diluted
$
(0.01 )
$
(0.02 )
$
(0.02 )
$
(0.05 )
Adjustments:
Non-cash tax adjustments
-
-
-
0.01
Amortization of acquired intangible assets
0.01
0.01
0.03
0.03
Stock-based compensation expense
0.06
0.05
0.17
0.12
Acquisition related expenses
-
-
-
0.01
Impairment of long-lived assets
-
0.01
-
0.01
Non-GAAP net income per share - Diluted
$
0.06
$
0.05
$
0.18
$
0.13
GAAP net income or loss as a percentage of total revenue
-2 %
-3 %
-1 %
-3 %
Adjustments:
Non-cash tax adjustments
0 %
-1 %
0 %
0 %
Amortization of acquired intangible assets
1 %
2 %
2 %
2 %
Stock-based compensation expense
10 %
9 %
8 %
7 %
Acquisition related expenses
0 %
0 %
0 %
1 %
Impairment of long-lived assets
0 %
1 %
0 %
1 %
Non-GAAP net income as a percentage of total revenue
9 %
8 %
9 %
8 %
8x8, Inc.
RECONCILIATION OF GAAP GROSS MARGIN TO
NON-GAAP
GROSS MARGIN
(In thousands,
unaudited)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP gross margin
$
48,911
$
38,368
$
139,776
$
110,579
Adjustments:
Amortization of acquired intangible assets
543
618
1,697
1,451
Impairment of long-lived assets
-
440
-
440
Stock-based compensation expense
538
346
1,338
828
Non-GAAP gross margin
$
49,992
$
39,772
$
142,811
$
113,298
GAAP gross margin as a percentage of total revenue
77%
72%
75%
73%
Adjustments:
Amortization of acquired intangible assets
1%
1%
1%
1%
Impairment of long-lived assets
0%
1%
0%
0%
Stock-based compensation expense
1%
1%
0%
1%
Non-GAAP gross margin as a percentage of total
revenue
79%
75%
76%
75%
8x8, Inc.
RECONCILIATION OF GAAP SERVICE MARGIN TO
NON-GAAP
SERVICE MARGIN
(In thousands,
unaudited)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP service margin
$
49,624
$
39,235
$
141,565
$
112,709
Adjustments:
Amortization of acquired intangible assets
543
618
1,697
1,451
Impairment of long-lived assets
-
440
-
440
Stock-based compensation expense
538
346
1,338
828
Non-GAAP service margin
$
50,705
$
40,639
$
144,600
$
115,428
GAAP service margin as a percentage of service revenue
83%
80%
82%
80%
Adjustments:
Amortization of acquired intangible assets
1%
1%
1%
1%
Impairment of long-lived assets
0%
1%
0%
0%
Stock-based compensation expense
0%
1%
1%
1%
Non-GAAP service margin as a percentage of service
revenue
84%
83%
84%
82%
8x8, Inc.
RECONCILIATION OF GAAP INCOME (LOSS) FROM
OPERATIONS TO NON-GAAP
INCOME FROM OPERATIONS
(In
thousands, unaudited)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2016
2015
2016
2015
GAAP loss from operations
$ (1,703 )
$ (2,509 )
$ (2,983 )
$
(4,103 )
Adjustments:
Amortization of acquired intangible assets
873
1,002
2,741
2,565
Stock-based compensation expense
6,071
4,663
15,630
11,202
Acquisition related expenses
78
-
78
1,043
Impairment of long-lived assets
15
640
15
640
Non-GAAP income from operations
$
5,334
$
3,796
$ 15,481
$
11,347
GAAP loss from operations as a percentage of total revenue
-3 %
-5 %
-2 %
-3 %
Adjustments:
Amortization of acquired intangible assets
1 %
2 %
2 %
2 %
Stock-based compensation expense
10 %
9 %
8 %
7 %
Acquisition related expenses
0 %
0 %
0 %
1 %
Impairment of long-lived assets
0 %
1 %
0 %
0 %
Non-GAAP income from operations as a percentage of total revenue
8 %
7 %
8 %
7 %

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170125006165r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20170125006165/en/

SOURCE: 8x8

8x8, Inc.
Investor Contact:
Joan Citelli, 408-654-0970
joan.citelli@8x8.com
or
Media Contact:
Neha Mirchandani, 669-256-5095
neha.mirchandani@8x8.com