8x8, a provider of Enterprise Communications as a Service (ECaaS), reported record financial results for the fourth quarter and fiscal year 2016 ended March 31, 2016.
Article continues below
Q4 total revenue increased 32% year-over-year to $57.3 million; service revenue increased 30% year-over-year to $52.2 million.
Service revenue from mid-market/enterprise customers in the fourth quarter of fiscal 2016 grew 54% year-over-year and represents over 50% of the Company's total service revenue.
New monthly recurring revenue sold to mid-market/enterprise customers and by channel sales teams in the fourth quarter of fiscal 2016 increased 208% year-over-year and accounted for 66% of total MRR booked in the quarter.
GAAP net loss in the fourth quarter of fiscal 2016 was ($1.1 million), or ($0.01) per diluted share.
Non-GAAP net income in the fourth quarter of fiscal 2016 was $3.2 million, or $0.03 per diluted share.
Cash generated from operating activities in the fourth quarter of fiscal 2016 was $8.2 million.
GAAP gross margin in the fourth quarter of fiscal 2016 was 72%, compared with 73% in the same period last year; non-GAAP gross margin in the fourth quarter of fiscal 2016 remained unchanged year-over-year at 74%.
GAAP service margin in the fourth quarter of fiscal 2016 was unchanged year-over-year at 81%; non-GAAP service margin in the fourth quarter of fiscal 2016 was 83%, compared with 82% in the same period last year.
Full year fiscal 2016 results:
Total revenue in fiscal 2016 increased 29% year-over-year to $209.3 million; service revenue increased 30% year-over-year to $192.2 million.
GAAP net loss in fiscal 2016 was ($5.1 million) or ($0.06) per diluted share.
Non-GAAP net income in fiscal 2016 was $15.0 million, 7% of revenue, or $0.16 per diluted share.
GAAP gross margin in fiscal 2016 was 73%, compared with 72% in fiscal 2015; non-GAAP gross margin in fiscal 2016 was 74%, compared with 73% in fiscal 2015.
GAAP service margin in fiscal 2016 was 81%, compared with 80% in the same period last year; non-GAAP service margin in fiscal 2016 was 83%, compared with 81% in fiscal 2015.
Cash generated from operating activities in fiscal 2016 was $23.6 million.
Company repurchased approximately 1.4 million shares of common stock in fiscal 2016 at an average price of $8.02 per share under its approved stock buyback program.
Cash, cash equivalents and investments were $163 million at March 31, 2016, compared with $177 million at the end of fiscal 2015. ■