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8x8's CEO Discusses F1Q2013 Results - Earnings Call Transcript

Stocks in this article: EGHT

Expressions of future goals, including financial guidance and similar expressions, including without limitation, expressions using the terminology may, will, believe, expect, plans, anticipates, predicts, forecasts and expressions which reflect something other than historical fact are intended to identify forward-looking statements.

These forward-looking statements involve a number of risks and uncertainties, including factors discussed in the risk factor sections of our annual report on Form 10-K, in our quarterly reports on Form 10-Q, and in our other SEC filings and company releases. Our actual results may differ materially from any forward-looking statements due to such risks and uncertainties.

The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after this conference call, except as required by law.

Thank you. And with that, I’ll turn the call over to Bryan Martin, Chief Executive Officer and Chairman of the Board of 8x8.

Bryan Martin

Thank you, Joan, and good afternoon, everyone. I’d like to begin today by providing an overview of our first quarter of fiscal 2013, which will then be followed by Dan’s discussion of the financial details and metrics. We will then open the lines for any questions you may have.

8x8 closed the first fiscal quarter ended June 30th with the achievement of a new milestone, exceeding a run rate of $100 million in annual revenue for the first time. We reported $25.3 million in revenue for the June quarter, a 36% increase in revenue over the same period last year.

The trends and metrics regarding the adoption of 8x8 cloud communications services by larger mid-market businesses continued their respective growth in the June quarter. During the quarter, 8x8 added 1,242 net new business customers to its services and we ended the quarter with 29,913 business customers.

The average business customer paid $250 in average recurring monthly revenue, compared to $200 a year ago, and they subscribed to 10.1 lines and services, compared to 8.4 services a year ago. The average new customer brought on during the June quarter subscribed to 14 lines and services.

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