8x8 Inc

Analysis

Business Description

8x8 Inc (8x8) provides cloud-based unified communications and virtual contact center solutions.

The company major solutions include 8x8 Work, 8x8 Contact Center, 8x8 Meet, 8x8 Team Messaging, and 8x8 CPaaS.

Work services of 8x8 include end-to-end United Communications solution that offers enterprise voice with PSTN connectivity, secure video meetings and unified messaging through one global cloud communications platform.

8x8 contact centers offer programmable, interactive voice response tool for greeting customers, automatic queuing and routing of inbound inquiries, and skills-based routing of inquiries to the appropriate call center agents. It also offers multimedia management, real-time monitoring and reporting, voice recording and logging, historical reporting, contact and case management tools, and integration with popular third-party CRM tools. The company provides software to enable a multi-channel contact center under the 8x8 virtual contact center brands. It is used for customer support, sales and any other corporate function that involves a high density of inbound or outbound interactions with customers.

The company’s meet solutions are a suite of web-based tools that provides enterprise-level analytics that can be used to make informed business decisions. It improves enterprise decision making by providing details about internal and external call activity, real-time call queue status, HD audio and video calling, meeting recording call quality and global routing and device status information.

Through team messaging, 8x8 offers team messaging platform, private and public team messaging rooms, direct messages, presence emojis, and short message service. The APIs

8x8’s CPaaS service offers communications platform as a service (CPaaS). It helps the companies in contacting their customers by proving their SMS, video interaction, chat app and voice APIs.. The AI-powered callstats service offers real-time metrics and analytics on a WebRTC session.

The company also offers various product plans in 8x8 X Series: X1 through X4, X Series Meetings, Open Team Messaging Platform; and X5 through X8.

As of March 2021, the company had 1.8 million paid business users. 8x8 operates across the US, the UK, Romania, Australia, New Zealand, Singapore, Indonesia, Hong Kong, Philippines, Thailand and Japan.

R&D Overview

The company’s R&D focuses on designing and developing new products and services and enhancing existing products using artificial intelligence and machine learning technologies. It employs R&D activities in the US, the UK, Romania, Philippines and Singapore, and outsourced software development consultants around the world. As of March 2021, 8x8 had over 250 patents and 100 US and foreign patent applications pending. In FY2021, the company incurred expenses of US$92 million on R&D, which as a percentage stood, at 17.3%.

Geographical Segments
Performance

Reported revenue of US$141.6 million for FY2021, which grew 47.7% YoY, and recorded a CAGR of 71.4% during 2019-21. International accounted for 26.6% of the company's revenue in FY2021.

Inventore veritatis
Performance

Reported revenue of US$390.8 million for FY2021, which grew 11.5% YoY, and recorded a CAGR of 13.3% during 2019-21. The US accounted for 73.4% of the company's revenue in FY2021.