Return to Year-over-Year Growth
8x8 Inc. returned to year-over-year growth for the first time in 9 quarters, exceeding the midpoint of their service revenue guidance by more than $3 million.
Strong Growth in CPaaS Solutions
Consumption-based revenue, primarily from CPaaS solutions, grew more than 30% year-over-year, with significant expansion into new use cases and channels.
Successful Migration from Fuze
Service revenue remaining on the Fuze platform declined to approximately 4%, with successful progress in migrating customers to 8x8's platform.
Positive Cash Flow and Debt Reduction
The company marked its 18th consecutive quarter of positive cash flow from operations and reduced debt principal by $219 million since August 2022.
Strong Performance in Microsoft Teams Integration
Sales of 8x8 Voice for Teams licenses grew more than 30% year-over-year, and 8x8 was recognized as a top 5 Operator Connect partner by country reach.
Advancements in AI and Customer Engagement
Adoption of Intelligent Customer Assistant rose 75% year-over-year, with voice interactions growing more than 7x year-over-year.
Increased Multiproduct Adoption
Revenue from customers using three or more products accounts for about one-third of annual subscription revenue, highlighting successful land-and-expand strategy.