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8x8 8x8 , Inc. Reports First Quarter Fiscal 2022 Financial Results August 4 , 2021 12:00 PM EDT Service Revenue Growth of 21 % Year - over - Year ; Total ARR Grew 24 % Year - over - year Raises Fiscal Full - Year 2022 Service Revenue Guidance to Approximately 14 % -15 % Year - over - Year Growth CAMPBELL , Calif .-- ( BUSINESS WIRE ) -- 8x8 , Inc. ( NYSE : EGHT ) , a leading integrated cloud communications platform provider , today reported financial results for the first quarter of fiscal 2022 ended June 30 , 2021 . First Quarter Fiscal 2022 Financial Results : • Total revenue increased 22 % year - over - year to $ 148.3 million . • Service revenue increased 21 % year - over - year to $ 137.8 million . • GAAP Operating Loss was $ 38.8 million ; Non - GAAP Operating Profit was $ 1.3 million . " We were pleased with our first quarter results , " said Dave Sipes , Chief Executive Officer at 8x8 , Inc. " We introduced XCaaS ( experience Communications as a Service ) to break down the silos between cloud contact center and employee communications . XCaaS improves our customers ' time to cloud transformation and does so with unparalleled innovation . We are delivering today what our competitors are envisioning for the future . " First Quarter Fiscal 2022 Business Metrics and Highlights : Financial and Business Metrics • Annualized Recurring Subscriptions and Usage ( ARR ) : • Total ARR grew to $ 535.8 million , an increase of 24 % from the same period last year . 。 824 customers generated ARR greater than $ 100K , compared with 606 customers in the same period last year , a 36 % year - over - year growth . • ARR growth by customer size : • Small Business customers ( defined as companies that generate less than $ 25K ARR ) comprised 32 % of total ARR which grew 7 % year - over - year . • Mid - market customers ( defined as companies that generate between $ 25K and $ 100K ARR ) comprised 19 % of total ARR which grew 22 % year - over - year . • Enterprise customers ( defined as companies that generate more than $ 100K ARR ) comprised 49 % of total ARR which grew 40 % year - over - year . • GAAP gross margin was 60 % , compared with 57 % in the same period last year . Non - GAAP gross margin was 63 % , compared with 61 % in the same period last year . • GAAP service margin was 67 % , compared with 64 % in the same period last year . Non - GAAP service margin was 69 % , compared with 68 % in the same period last year . • Cash provided by operating activities was $ 4.0 million . Cash , restricted cash , and investments were $ 161.9 million at June 30 , 2021 , and $ 161.5 million at March 31 , 2021 . Product Innovation Highlights • Introduced XCaaS ( experience Communications as a Service ) for customer and employee engagement . • Launched the industry's first and only financially - backed , platform - wide 99.999 % SLA across an integrated cloud UCaaS and CCaaS solution . • Released support for 500 active video meeting participants for 8x8 Work and JaaS ( Jitsi as a Service ) .