Solid (enviable) growth but profits remain elusive
The highlights for FY2018-Q3 (CY2017-Q4) are as follows:
- 8×8 reported total revenue of $63.7 million, up 20% year-over-year.
- Service revenue was $60.1 million, up 23% year-over-year
- Reflecting continued diversification from the consumer segment, the company’s service revenue from mid-market and enterprise customers grew 36% year-over-year and now represents 55% of the total service revenue.
- The company’s GAAP net loss was $1.3 million vs. a non-GAAP net income of $5.8 million.