10-Q Filing

8X8 INC /DE/ CIK: 1023731 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001023731-19-000008`
Period End Date	20181231
Filing Date	20190130
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	eght-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 52 Cash Flow Statement 78 Comprehensive Income 16

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.32M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecurities`	$86.51M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecurities`	$120.56M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.30M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.07M	USD	Point-in-time
Deferred sales commission costs	`CapitalizedContractCostNetCurrent`	-	USD	Point-in-time
Deferred sales commission costs	`CapitalizedContractCostNetCurrent`	$14.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.17M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$178.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$35.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$47.74M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.96M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.27M	USD	Point-in-time
Goodwill	`Goodwill`	$40.05M	USD	Point-in-time
Goodwill	`Goodwill`	$39.44M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$8.10M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$8.10M	USD	Point-in-time
Deferred sales commission costs, non-current	`CapitalizedContractCostNetNoncurrent`	-	USD	Point-in-time
Deferred sales commission costs, non-current	`CapitalizedContractCostNetNoncurrent`	$30.89M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.06M	USD	Point-in-time
Total assets	`Assets`	$304.03M	USD	Point-in-time
Total assets	`Assets`	$277.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.41M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$19.32M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesCurrent`	$14.47M	USD	Point-in-time
Accrued taxes	`AccruedIncomeTaxesCurrent`	$6.37M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$3.52M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$2.56M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$6.03M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$5.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$71.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.26M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.17M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$5.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$76.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$58.44M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$93.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$96.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$457.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$425.79M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.64M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-201.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-222.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$227.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$218.77M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$304.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$277.21M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$75.58M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$89.91M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$258.82M	USD	3 Qtrs
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$217.16M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$24.78M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.53M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$43.92M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$16.88M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$131.10M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$60.72M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$48.83M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$169.95M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.20M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.17M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$28.57M	USD	3 Qtrs
Impairment of equipment, intangible assets and goodwill	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment of equipment, intangible assets and goodwill	`AssetImpairmentCharges`	$9.47M	USD	1 Quarter
Impairment of equipment, intangible assets and goodwill	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment of equipment, intangible assets and goodwill	`AssetImpairmentCharges`	$9.47M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$114.15M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$245.32M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$321.03M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$93.82M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-62.21M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-18.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-28.17M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-24.24M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$569.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$1.93M	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$3.08M	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$579.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-23.66M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-60.27M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-25.08M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.68M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$333.00K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$70.84M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$112.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$66.15M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-91.23M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-60.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-88.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.77M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.99	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.96	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.25	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.71M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.09M	shares	3 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	95.37M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	92.03M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-91.23M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-60.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-88.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.77M	USD	1 Quarter
Depreciation	`Depreciation`	$6.05M	USD	3 Qtrs
Depreciation	`Depreciation`	$6.46M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.55M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.00M	USD	3 Qtrs
Amortization of capitalized software	`CapitalizedComputerSoftwareAmortization1`	$6.45M	USD	3 Qtrs
Amortization of capitalized software	`CapitalizedComputerSoftwareAmortization1`	$1.27M	USD	3 Qtrs
Impairment of goodwill and long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$9.47M	USD	3 Qtrs
Impairment of goodwill and long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	3 Qtrs
Non-cash lease expenses	`OtherNoncashIncomeExpense`	-	USD	3 Qtrs
Non-cash lease expenses	`OtherNoncashIncomeExpense`	$-3.60M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$21.14M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$31.57M	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$66.27M	USD	3 Qtrs
Gain on escrow settlement	`GainOnEscrowSettlement`	$1.39M	USD	3 Qtrs
Gain on escrow settlement	`GainOnEscrowSettlement`	-	USD	3 Qtrs
Other	`OtherNoncashExpense`	$873.00K	USD	3 Qtrs
Other	`OtherNoncashExpense`	$226.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.31M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.96M	USD	3 Qtrs
Deferred sales commission costs	`IncreaseDecreaseInDeferredCharges`	$7.23M	USD	3 Qtrs
Deferred sales commission costs	`IncreaseDecreaseInDeferredCharges`	-	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.56M	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.31M	USD	3 Qtrs
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.20M	USD	3 Qtrs
Accounts payable and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.86M	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$986.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$351.00K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.67M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$19.38M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.78M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.52M	USD	3 Qtrs
Purchase of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	3 Qtrs
Purchase of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.62M	USD	3 Qtrs
Proceeds from escrow settlement	`ProceedsFromCollectionOfOtherReceivables`	$1.39M	USD	3 Qtrs
Proceeds from escrow settlement	`ProceedsFromCollectionOfOtherReceivables`	-	USD	3 Qtrs
Capitalized software development costs	`PaymentsForSoftware`	$8.69M	USD	3 Qtrs
Capitalized software development costs	`PaymentsForSoftware`	$18.21M	USD	3 Qtrs
Proceeds from maturity of investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$44.85M	USD	3 Qtrs
Proceeds from maturity of investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$57.15M	USD	3 Qtrs
Sales of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$23.38M	USD	3 Qtrs
Sales of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$41.78M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$52.35M	USD	3 Qtrs
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$75.92M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.66M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.21M	USD	3 Qtrs
Capital lease payments	`RepaymentsOfLongTermCapitalLeaseObligations`	$771.00K	USD	3 Qtrs
Capital lease payments	`RepaymentsOfLongTermCapitalLeaseObligations`	$855.00K	USD	3 Qtrs
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	3 Qtrs
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$150.00K	USD	3 Qtrs
Repurchase and tax-related withholding of common stock	`PaymentsForRepurchaseOfCommonStock`	$7.63M	USD	3 Qtrs
Repurchase and tax-related withholding of common stock	`PaymentsForRepurchaseOfCommonStock`	$22.14M	USD	3 Qtrs
Proceeds from issuance of common stock under employee stock plans	`ProceedsFromStockPlans`	$7.37M	USD	3 Qtrs
Proceeds from issuance of common stock under employee stock plans	`ProceedsFromStockPlans`	$3.30M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.84M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$409.00K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-339.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.26M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.38M	USD	3 Qtrs
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.03M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.42M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.77M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.03M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.42M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.77M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$290.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$217.00K	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	$28.00K	USD	3 Qtrs
Property and equipment acquired under capital leases	`CapitalLeaseObligationsIncurred`	-	USD	3 Qtrs
Property and equipment acquired under capital leases	`CapitalLeaseObligationsIncurred`	$765.00K	USD	3 Qtrs

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-91.23M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-60.61M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-88.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.77M	USD	1 Quarter
Unrealized gain (loss) on investments in securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$160.00K	USD	3 Qtrs
Unrealized gain (loss) on investments in securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-213.00K	USD	1 Quarter
Unrealized gain (loss) on investments in securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$13.00K	USD	3 Qtrs
Unrealized gain (loss) on investments in securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-101.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-549.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$3.18M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-2.60M	USD	3 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$198.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-88.53M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-63.05M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-24.42M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-88.04M	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.