8X8 Inc (NYSE:EGHT) Q1 2021 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


8X8 Inc (NYSE:EGHT) Q1 2021 Earnings Conference Call - Final Transcript


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Good evening. My name is David, and I will be your conference operator today. At this time, I would like to welcome everyone to the 8x8, Inc. Fiscal First Quarter 2021 Earnings Conference Call.

I will now turn the call over to Victoria Hyde Dunn, Head of Investor Relations.

Victoria Hyde-Dunn

Thank you. Good afternoon, and welcome to 8x8's First Quarter Fiscal 2021 Earnings Conference Call. Joining me today are Vik Verma, Chief Executive Officer; and Samuel Wilson, Chief Financial Officer. During today's call, Vik will begin with business highlights of our first quarter performance. Following this, Sam will provide details on our financial results and guidance. After these prepared remarks, we look forward to taking your questions. Before we get started, just a reminder that our discussion today includes forward-looking statements about 8x8's future financial performance as well as its business product and growth strategies, including the impact of the COVID-19 pandemic. We caution you not to put undue reliance on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements as described in our risk factors in our reports filed with the SEC. Any forward-looking statements made on this call reflect our analysis as of today, and we have no plans or duties to update them. In addition, some financial measures that will be discussed on this call, together with year-over-year comparisons, in some cases, are not prepared in accordance with U.S. generally accepted accounting principles, or GAAP. A reconciliation of non-GAAP measures to the closest comparable GAAP measures is provided with our earnings press release and PowerPoint presentation deck, which are available on our Investor Relations website.

With that, let me turn the call over to Vik.

Vik Verma

Thank you, Victoria. Good afternoon, everyone, and thank you for joining us today. We continue to experience unprecedented times, and I hope you and your families are staying safe and healthy. Before we begin, I would like to welcome Sam Wilson, our new CFO, to the call. Sam has been part of the 8x8 team for almost three years in various executive leadership roles, including spending the previous six months transforming 8x8's cost structure through self-service and automation initiatives as Chief Customer Officer. Sam has also led our small business in mid-market sales, Professional Services, implementation and customer support functions. As you will see, Sam has quickly come up to speed in the CFO role, and we are pleased to have his financial leadership and operational acumen as we accelerate into a next phase of growth and profitability. And now to today's business. I will focus my remarks on four core topics. First quarter results, go-to-market execution, platform strategy and finally, our path to profitability exiting fiscal 2021. At 8x8, our mission is to help businesses leverage enterprise communications to create the new digital workplace. Business today requires resilient communication systems to support increasingly distributed of fully remote workforces. Now more than ever, cloud communications is fundamentally shaping the new campus, the