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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 8x8 Second Quarter Fiscal 2026 Ended September 30, 2025 November 4, 2025
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to: the size of our market opportunity; the potential success and impact of our investments in artificial intelligence technologies; our strategic transformation initiatives; our ability to drive increased platform and multi-product adoption; our ability to increase profitability and cash flow and fund investment in innovation; whether we can increase customer retention; whether our unified communication and contact center traffic will increase; our future revenue and growth (including platform usage revenue); whether we can sustain an increasing pace of innovation; the success of our go-to-market engine; our ability to improve general and administrative synergies; our ability to enhance shareholder value; and our financial outlook, revenue growth, and profitability, including whether we will achieve sustainable growth and profitability. These forward-looking statements are predictions only, and actual events or results may differ materially from such statements depending on a variety of factors. These factors include, but are not limited to: • The impact of economic downturns on us and our customers; • Customer adoption and demand for our products may be lower than we anticipate. • A reduction in our total costs as a percentage of revenue may negatively impact our revenues and our business. • Impact of economic downturns, political instability, government shutdowns and threats of shutdowns, rising interest rates and other inflationary pressures on us and our customers. • Risks related to our delayed draw term loan due 2027 and convertible senior notes due 2028, including the impact of variable interest expense and timing of any future repayments or refinancing on our stock price. • We may not achieve our target service revenue or total revenue growth rates, or the revenue and other amounts we forecast in our guidance, for a particular quarter or for the full fiscal year. • Competitive dynamics of the UCaaS, CCaaS, CPaaS, video and other markets in which we compete may change in ways we are not anticipating. • Our customer churn rate may be higher than we anticipate. • Third parties may assert ownership rights in our IP, which may limit or prevent our continued use of the core technologies behind our solutions. • Risks related to our plans to sunset the Fuze platform and migrate customers to our own platform following our earlier acquisition of Fuze, Inc • The impact of U.S. trade restrictions, tariffs and international trade policies could adversely affect our costs and operations. • Investments we make in marketing, channel and value-added resellers (VARs), e-commerce, and new products may not result in revenue growth. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Forms 10-K and 10-Q filed by 8x8, Inc. with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and 8x8, Inc. undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future. See Appendix for Non-GAAP reconciliation and disclaimers.
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Kevin Kraus 8x8 Chief Financial Officer8x8 Chief Executive Officer Samuel Wilson | Q2 2026 Earnings Presentation 3
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. We connect people and organizations through seamless communication, empowering them to unlock the potential of every interaction. | Q2 2026 Earnings Presentation 4 Copyright 2025 8x8, Inc. or its affiliates. All rights reserved.
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 5 A Market Leader in Business Communications Best of Breed2 14x Recognized for UCaaS 3M+ 54K+ 1. 2025 Gartner Critical Capabilities for Unified Communications as a Service Gartner, Magic Quadrant and associated logos are trademarks of Gartner, Inc. 2. G-G2 and associated logos are trademarks of G2.com, Inc. TrustRadius and associated logos are trademarks of TrustRadius, Inc. 3. The Forrester Wave™: Unified-Communications-As-A-Service Platforms, Q3 2025, July 13, 2025, and The Forrester Wave™: Contact-Center-As-A-Service Platforms, Q2 2025, April 9, 2025 4. As of 3/31/2025 4 3 2 1 0 5 Global Reach® 50+ Countries with PSTN Replacement Ranked #1 over competitors for Contact Center integrated with UCaaS1 Magic Quadrant™ Paid Business Users4 Across >190 Countries Global Customers 10x Recognized for CCaaS 3 MicrosoftGoToZoomCiscoRingCentralVonageDialpad
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 8x8 Product Portfolio Local numbers in 100+ countries including toll-free Technology Partner Ecosystem Professional Service and Support 6
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Future-ready CX and EX Cutting-edge platform for better outcomes Meet your customers where they are and streamline AI- driven and live-assisted service Optimize CX with 8x8 TPES for specific use cases Enhance the Microsoft experience with deep 8x8 integrations Time tested, friction-less and custom-approach to deployment Insights for smarter decisions Identity CX gaps and eliminate data silos Unify customer interaction data for faster action Empower every employee with a 360-degree customer view Purpose-built workspaces for productivity Global reach and reliability Financially backed, platform- wide 99.999% uptime Proprietary platform with 4 levels of redundancy Connected teams with industry-leading global coverage Patented Global ReachTM ML technology for best quality of service Optimize IT and support footprint Eliminate multiple vendor and carrier partnerships Centralized and easy system management globally Monitor system and performance metrics Implement unified security, compliance, governance and data privacy policy 7| Q2 2026 Earnings Presentation
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 8x8 Momentum 8 167% YoY increase Intelligent Customer Assistant (ICA) - Voice & Digital >80% of all interactions represented by Voice AI 59% YoY Increase in Intelligent Customer Assistant (ICA) customer adoption >181% YoY Growth in API Messaging Interactions 63% QoQ increase in API Voice Interactions | Q2 2026 Earnings Presentation
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Select Q2 2026 Customer Wins 9 European Healthcare Provider Leading Network of Healthcare Providers Why 8x8: • Unmatched collaboration across teams • 8x8 Team’s technical expertise • Ability to demonstrate full value of cross- functional model 8x8 Solution(s): • 8x8® Contact Center™ • 8x8® Work™ • 8x8 Intelligent Customer Assistant Why 8x8: • Strong understanding of operational needs • Robust, enterprise-grade solution specifically tailored to their workflows • Uniform platform offering a seamless, streamlined communications experience across products 8x8 Solution(s): • 8x8® Contact Center™ • 8x8® Work™ Large UK Non-Profit Organization Why 8x8: • Strength and consistency of partner relationship and collaboration • Deep understanding of technical requirements and benefits • Trust and credibility of team 8x8 Solution(s): • 8x8® Work™
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Select Q2 2026 Customer Wins 10 U.S. Regional Financial Services Provider Global Leader in Supply Chain Sustainability Why 8x8: • Delivered seamless solution fit aligned with operational needs and future growth plans • Ability to unify communications and customer engagement workflows on a single platform 8x8 Solution(s): • 8x8 Conversational AI • 8x8® Contact Center™ • 8x8® Work™ Why 8x8: • Global solution, with the flexibility and support to match scale of worldwide operations • Reliability, scalability and a seamless experience for users across multiple regions • Deep understanding of operational needs 8x8 Solution(s): • 8x8® Work™ • 8x8® Voice™ for Microsoft Teams Industry-Leading, International Professional Services Company Why 8x8: • Call quality reporting, network tool, zero- downtime deployment • User-friendly platform • Best value and alignment with company goals • Team credibility, combined with technical strengths 8x8 Solution(s): • 8x8® Work™ • 8x8® Voice™ for Microsoft Teams • 8x8® Contact Center™
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Platform innovations drive ease of use and customer value Integrated 8x8 Workforce Management in Contact Center at no extra cost; Expanded AI- powered features, such as native transcriptions, live call summarization and real-time active calls reporting Multi-Product Strategy Driving Value Annual revenue from customers with 3 or more products now represents more than one-third of recurring revenue (excluding usage revenue) Strong usage trends drive record platform engagement Revenue from products sold on an as-used basis accounted for 19% of service revenue Q2 2026 Business Highlights 11 AI-powered Customer Experience Solutions Voice AI Interactions across the platform increased over 5x YoY | Q2 2026 Earnings Presentation
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Select Recent Industry Recognition Winner of Platinum MarCom Award in the Social Media Marketing Campaign category for the "Power of You" campaign Recognized in the 2025 Gartner Magic Quadrant for Unified Communications as a Service Recognized across five categories in the 22nd Annual International Business Awards®, including a Gold Stevie® Award for Customer Service Executive of the Year 12| Q2 2026 Earnings Presentation Named a Leader in the IDC Marketscape: European Contact Center-as-a- Service Applications Software 2025 Vendor Assessment Named as Top UK Public Sector Tech Supplier in the Tech Titans Report
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 13 Q2 2026 Financial Highlights Top-Line Service Revenue $179M +2.3% YoY, +1.6% QoQ Total Revenue $184M +1.7% YoY, +1.5% QoQ Profitability & Cash GAAP Operating Margin 2.9% Non-GAAP Operating Margin1 9.4% Cash flow generated from operations $8.8M 19th consecutive quarter of positive operating cash flow $77M of cash, equivalents and restricted cash at the end of the quarter2 $10M 2027 Term Loan Repayment 11% YoY growth in customers with 3+ products 5.7% Growth ex-Fuze | Q2 2026 Earnings Presentation 1. See Appendix for a reconciliation of Non-GAAP metrics to the nearest GAAP metric. Reconciliation not available for forward looking metrics. 2. Reflects $10 million prepayment of principal on Term Loan during Q2 2026
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Metric (US$ millions) Q2 2026 Results (Qtr ended 9/30/25) Guidance Ranges (As of 8/5/25) Service Revenue1 $179.1M $170M – $175M % Growth Y/Y 2.3% (2.9) - 0% Total Revenue2 $184.1M $175M – $180M % Growth Y/Y 1.7% (3.3%) – (0.6%) Non-GAAP Operating Margin3 9.4% 8.0% - 9.0% Q2 2026 Results vs. Guidance 1. Service revenue consists of subscriptions and platform usage revenue. 2. Total Revenue includes Service revenue and Other revenue which includes product revenue from the sale of pre-configured phones and equipment, phone rentals, and professional services. 3. See Appendix for a reconciliation of Non-GAAP metrics to the nearest GAAP metric. | Q2 2026 Earnings Presentation 14
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Amounts may not sum to total due to rounding. 1. Service revenue consists of subscriptions and platform usage revenue. 2. Other revenue includes product revenue from the sale of pre-configured phones and equipment, phone rentals, and professional services. 3. See appendix for reconciliation of non-GAAP metrics to nearest comparable GAAP metric. 4. Non-GAAP Interest expense excludes amortization of debt discount and issuance costs. See Appendix for additional detail. 5. Stock based compensation includes related employer payroll taxes. Income Statement Metric (US$ millions) Q2 2026 % of Total Revenue % Change YoY Revenue Service Revenue1 $179.1 97% 2% Other Revenue2 $5.0 3% (16)% Total Revenue $184.1 100% 2% GAAP Metrics Gross Profit $119.3 65% (3)% Operating Income $5.3 3% (25)% Interest Expense $4.8 3% (39)% Non-GAAP Metrics3 Gross Profit $120.9 66% (5)% Operating Income $17.3 9% (20)% Adjusted EBITDA $22.0 12% (17)% Interest Expense4 $4.5 2% (38)% Other Stock-based Compensation5 $5.8 3% (41)% Q2 2026 Financial Metrics | Q2 2026 Earnings Presentation 15
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 1. Includes Cash, cash equivalents and restricted cash in Q2 2026, Q1 2026 and Q1 2025. 2. Debt and net debt outstanding as of 9/30/25 and includes $201.9M in 2028 Notes and $127M Term Loan. 3. QoQ change reflects $10M repayment of principal on the Term Loan. 4. YoY change reflects $73M prepayment of Term Loan principal ($33M in Q3’25, $15M in Q4’25, $15M in Q1'26 and $10M in Q2'26). 5. See Appendix for reconciliation of GAAP to non-GAAP metrics, including adjusted EBITDA. I ncome Statement Metric (US$ millions) Q2 2026 Change QoQ Change YoY Liquidity and Cash Flow Cash & Investments1 $76.7 $(5.5) $(41.2) Operating Cash Flow $8.8 $(3.0) $(3.5) CapEx + Cap SW $(4.2) $0.2 $(0.2) TTM Operating Cash Flow $53.8 $(3.5) $(11.7) TTM CapEx + Cap SW $(14.6) $(0.2) $0.8 Balance Sheet Deferred Revenue $44.0 $1.3 $(0.2) Total Debt O/S2 $328.9 $(10.0)3 $(73.0)4 Net Debt O/S2 $252.2 $(4.5) $(31.8) Net Debt / TTM Adj EBITDA5 $2.8 0.1 0.2 Other Remaining Performance Obligations $720.0 $(35.0) $(80.0) Q2 2026 Financial Metrics (Cont’d) | Q2 2026 Earnings Presentation 16
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. $175 $176 $179 Q2 2025 Q1 2026 Q2 2026 $181 $181 $184 Q2 2025 Q1 2026 Q2 2026 Total Revenue Service Revenue (US$ millions) (US$ millions) 2.3% YoY 1.6% QoQ Revenue 1.5% QoQ 1.7% YoY | Q2 2026 Earnings Presentation 17
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Non-GAAP Gross Margins1 1. See Appendix for reconciliation of Non-GAAP metrics to nearest GAAP metric. Non-GAAP Total and Service Gross Margins as a % of Revenue impacted by mix shift to a higher mix of usage revenue 73.2% 70.6% 68.4%70.2% 67.8% 65.7% Service Gross Margin Total Gross Margin Q2 2025 Q1 2026 Q2 2026 | Q2 2026 Earnings Presentation 18
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Non-GAAP Operating Expenses and Total Costs 1. See Appendix for reconciliation of Non-GAAP metrics to nearest GAAP metric. 2. Non-GAAP Operating Expenses includes non-GAAP R&D, Sales and Marketing, and G&A expenses, but does not include non-GAAP Cost of Total Revenue (“COGS”). 3. Non-GAAP Total Costs is defined as Non-GAAP Operating Expenses plus Non-GAAP Cost of Total Revenue (“COGS”). 58.3% 58.8% 56.3% 88.1% 91.0% 90.6% Operating Expenses Total Costs Q2 2025 Q1 2026 Q2 2026 (As a % of Revenue) | Q2 2026 Earnings Presentation 19 Operating expenses and total costs declined as a % of revenue, demonstrating continued financial discipline 1,2,3
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 20 Non-GAAP Expense Profile | Q2 2026 Earnings Presentation 1. See Appendix for reconciliation of Non-GAAP metrics to nearest GAAP metric. 2. Non-GAAP Operating Expenses includes non-GAAP R&D, Sales and Marketing, and G&A expenses, but does not include non-GAAP Cost of Total Revenue (“COGS”). 3. Non-GAAP Total Costs is defined as Non-GAAP Operating Expenses plus Non-GAAP Cost of Total Revenue (“COGS”). 15.2% 14.3% 14.5% 32.7% 34.2% 31.9% 10.4% 10.2% 9.9% 58.3% 58.8% 56.3% G&A S&M R&D Q2 FY25 Q1 FY26 Q2 FY26 1,2,3
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Non-GAAP Operating Margin % 1. See Appendix for reconciliation of Non-GAAP metrics to nearest GAAP metric. Non-GAAP Operating Income and Margin1 $22 $16 $17 Q2 2025 Q1 2026 Q2 2026 11.9% 9.0% 9.4% Q2 2025 Q1 2026 Q2 2026 | Q2 2026 Earnings Presentation 21 (% of revenue)(US$ millions) Non-GAAP Operating Income
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Interest Expense Quarter-Over-Quarter $5,842 $5,153 $4,894 $4,842 $2,019 $2,019 $2,019 $2,019 $3,396 $2,813 $2,539 $2,461 $427 $321 $336 $362 2028 Notes 2024 Term Loan Amortization of debt discount and issuance costs FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 $— $2,000 $4,000 $6,000 $8,000 Interest Paid Quarter-Over-Quarter $3,193 $6,780 $2,567 $6,471 $4,038 $4,038 $3,193 $2,742 $2,567 $2,433 2028 Notes 2024 Term Loan FY25 Q3 FY25 Q4 FY26 Q1 FY26 Q2 $— $2,000 $4,000 $6,000 $8,000 Interest Expense and Cash Interest Paid | Q2 2026 Earnings Presentation 22 Note: Interest expense includes contractual interest expense and amortization of debt issuance costs
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Cash & Investments Quarterly Trend (millions) $118 $105 $89 $82 $77 Cash Restricted cash Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $— $25 $50 $75 $100 $125 23| Q2 2026 Earnings Presentation $25M debt payoff $33M debt payoff $15M debt payoff $15M debt payoff + $1.8M stock buyback $10M debt payoff
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. $500.0$500.0 $548.1$542.1$520.3$515.2 $490.2$490.2$490.2 $426.9$426.9 $401.9 $368.9$353.9$338.9$328.9$323.9 $500.0 $500.0 $96.2 $90.2 $68.3 $63.3 $63.3 $63.3 $63.3 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $201.9 $250.0 $250.0 $250.0 $250.0 $225.0 $225.0 $225.0 $225.0 $225.0 $200.0 $167.0 $152.0 $137.0 $127.0 $122.0 2024 Notes 2028 Notes 2022 Term Loan 2024 Term Loan Q4'22 Q1'23 Aug'22 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Nov'25 $— $200.0 $400.0 $600.0 History of Reducing Debt Outstanding Principal repayments of $25M in 1H'26; Reduced Principal Amount of Debt by ~$224M since August 2022 For more detailed disclosures on the terms of the Company’s convertible senior notes and Term Loan, see the Company’s most recent SEC filings. Exchange Transaction 8/3/22 Early repay $25M on Term LoanRepay 2024 Notes Refi Term LoanRepurchase additional $6 million 2024 NotesRepurchase ~$22 million 2024 Notes Repay $33MRepay $15MRepurchase ~$5 million 2024 Notes | Q2 2026 Earnings Presentation Repay $15MRepay $10M 24 Ending Principal Amount Outstanding by Quarter Repay $5M
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. ($ in millions) Q2 2026 Service Revenue $172 million – $177 million % Growth Y/Y (1)% – 2% Total Revenue $177 million – $182 million % Growth Y/Y (1)% – 2% Non-GAAP Gross Margin1 64% – 66% Non-GAAP Operating Margin1 9% – 10% Non-GAAP Interest Expense $4.2 million Cash Interest Payments $2.2 million Non-GAAP Earnings Per Share - Diluted2 $0.08 – $0.09 Cash Flow from Operations $10 million – $14 million 1. Reconciliation to nearest GAAP metric not available for forward-looking Non-GAAP Operating Margin. Refer to Forward-Looking Statements for a discussion of factors that could cause actual results to differ from guidance and refer to 8x8’s Second Quarter Fiscal Year 2026 earnings release for a discussion of reasons why 8x8 does not reconcile non-GAAP operating margin guidance. 2. Assumes weighted average shares outstanding, fully diluted, of approximately 143.5 million. Q3 2026 Guidance Ranges1 As of 11/4/2025 | Q2 2026 Earnings Presentation 25
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. 1. Reconciliation to nearest GAAP metric not available for forward looking Non-GAAP metrics. Refer to Forward-Looking Statements for a discussion of factors that could cause actual results to differ from guidance and refer to 8x8’s Second Quarter Fiscal Year 2026 earnings release for a discussion of reasons why 8x8 does not reconcile non-GAAP guidance metrics. Updated FY 2026 Guidance1 Metric ($ in millions) Updated 11/4/2025 As of 8/5/2025 As of 5/19/2025 Service Revenue $692M – $706M $685M – $700M $682M – $702M % Growth Y/Y 0% – 2% (1%) – 1% (1%) – 1% Total Revenue $712M – $726M $706M – $720M $702M – $724M % Growth Y/Y 0% – 2% (1%) – 0% (2%) – 1% Non-GAAP Gross Margin1 65% - 66% 66% – 68% – Non-GAAP Operating Margin1 8.5% – 9.5% 8.5% – 9.5% 9.0% – 10.0% Non-GAAP Net Income per Share - Diluted1 $0.31 – $0.33 $0.28 – $0.33 $0.34 – $0.37 Weighted Average Shares - Diluted ~ 143M ~143M ~144M Cash Flow from Operations $38M – $42M $35M – $45M $40M – $50M | Q2 2026 Earnings Presentation 26
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Thank You 8x8.com youtube.com/8x8Inc @8x8 facebook.com/8x8Inc linkedin.com/company/8x8 instagram.com/8x8inc
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Appendix GAAP to non-GAAP Reconciliations and Historical Financial Results
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Outstanding Debt - Principal Amount 1. ~$15 million of current portion of short-term debt and $10 million of long-term debt repaid in 1H'26 For more detailed disclosures on the terms of the Company’s convertible senior notes and Term Loan, see the Company’s most recent quarterly and annual SEC filings. Components of convertible senior notes and term loans were as follows as of September 30, 2025 and March 31, 2025, respectively (in thousands): September 30, 2025 March 31, 2025 2024 Term Loan 2022 Term Loan 2028 Notes Total 2024 Term Loan 2028 Notes Total Principal $ 127,000 $ — $ 201,914 $ 328,914 $ 152,000 $ 201,914 $ 353,914 Unamortized debt discount and issuance costs (528) — (2,597) (3,125) (826) (3,124) (3,950) Net carrying amount $ 126,472 $ — $ 199,317 $ 325,789 $ 151,174 $ 198,790 $ 349,964 Current portion of long-term debt $ 19,173 $ — $ — $ 19,173 $ 11,593 $ — $ 11,593 Non-current portion of long-term debt $ 107,299 $ — $ 199,317 $ 306,616 $ 139,581 $ 198,790 $ 338,371 | Q2 2026 Earnings Presentation 29 (1)
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Interest Expense - Senior Convertible Notes and Term Loan 1. Amounts may not sum to total due to rounding. 2. Interest is payable semi-annually on the 2028 Senior Convertible Notes in August and February. The Company has the option to pay interest monthly, quarterly, or semi-annually 2024 Term Loan. 3. Total debt interest expense excludes the impact of capitalized interest related to property, plant and equipment from general borrowing costs during the three months ended September 30, 2025. For more detailed disclosures on the terms of the Company’s convertible senior notes, Term Loan and detachable warrants, see the Company’s quarterly and annual SEC filings. Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 2024 Term Loan 2028 Notes Total 2024 Term Loan 2022 Term Loan 2028 Notes Total Contractual interest expense $ 2,461 $ 2,019 $ 4,480 $ 2,619 $ 2,611 $ 2,019 $ 7,249 Amortization of debt discount and issuance costs 84 278 362 104 286 266 656 Total debt interest expense(2) $ 2,545 $ 2,297 $ 4,842 $ 2,723 $ 2,897 $ 2,285 $ 7,905 Six Months Ended September 30, 2025 Six Months Ended September 30, 2024 2024 Term Loan 2028 Notes Total 2024 Term Loan 2022 Term Loan 2028 Notes Total Contractual interest expense $ 5,000 $ 4,038 $ 9,038 $ 2,619 $ 9,466 $ 4,058 $ 16,143 Amortization of debt discount and issuance costs 171 527 698 104 1,110 504 1,718 Total interest expense $ 5,171 $ 4,565 $ 9,736 $ 2,723 $ 10,576 $ 4,562 $ 17,861 Components of interest expense for the three months ended September 30, 2025 and 2024, respectively (in thousands): | Q2 2026 Earnings Presentation 30
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Copyright 2025 8x8, Inc. or its affiliates. All rights reserved. Non-GAAP Measures This presentation contains certain financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). Management uses these non-GAAP financial measures internally in analyzing the Company’s financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating the Company’s ongoing operational performance. This information should not be considered a substitute for any measures derived in accordance with GAAP. Non-GAAP Guidance The Company does not reconcile its forward-looking estimates of non-GAAP operating margins to the corresponding GAAP measures of GAAP operating margin due to the significant variability of, and difficulty in making accurate forecasts and projections with regards to, the various expenses it excludes. For example, future hiring and employee turnover may not be reasonably predictable, stock-based compensation expense depends on variables that are largely not within the control of nor predictable by management, such as the market price of 8x8 common stock, and may also be significantly impacted by events like acquisitions, the timing and nature of which are difficult to predict with accuracy. The actual amounts of these excluded items could have a significant impact on the Company's GAAP operating margins. Accordingly, management believes that reconciliations of this forward-looking non-GAAP financial measure to the corresponding GAAP measure are not available without unreasonable effort. All projections are on a non-GAAP basis. Non-GAAP Measures and Guidance | Q2 2026 Earnings Presentation
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FY2024 FY2025 FY2026 FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q4 YTD Q4 YTD 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Service revenue 175,238 177,782 175,069 172,490 172,801 175,075 173,459 171,588 176,308 179,094 700,579 692,923 Other revenue 8,049 7,217 5,937 6,923 5,346 5,923 5,423 5,455 5,053 5,001 28,126 22,147 Total revenue 183,287 184,999 181,006 179,413 178,147 180,998 178,882 177,043 181,361 184,095 728,705 715,070 Cost of service revenue 46,276 49,144 48,983 48,557 49,496 50,251 50,529 49,818 53,822 57,699 192,960 200,094 Cost of other revenue 8,398 7,958 7,177 8,412 7,691 7,572 7,268 7,173 7,099 7,056 31,945 29,704 Total cost of revenue 54,674 57,102 56,160 56,969 57,187 57,823 57,797 56,991 60,921 64,755 224,905 229,798 Gross profit 128,613 127,897 124,846 122,444 120,960 123,175 121,085 120,052 120,440 119,340 503,800 485,272 Operating expenses: Research and development 35,292 34,207 32,787 33,930 32,137 31,291 29,833 29,950 28,364 27,918 136,216 123,211 Sales and marketing 68,505 68,687 66,997 67,755 67,106 64,867 65,644 66,844 68,184 63,835 271,944 264,461 General and administrative 26,226 27,586 23,419 34,978 23,091 19,848 16,629 22,839 23,327 22,238 112,209 82,407 Impairment of long-lived assets — — 11,034 — — — — — — — 11,034 — Total operating expenses 130,023 130,480 134,237 136,663 122,334 116,006 112,106 119,633 119,875 113,991 531,403 470,079 Income (loss) from operations (1,410) (2,583) (9,391) (14,219) (1,374) 7,169 8,979 419 565 5,349 (27,603) 15,193 Interest expense (10,078) (10,061) (10,035) (9,650) (9,956) (7,905) (5,842) (5,153) (3,968) (4,842) (39,824) (28,856) Other income (expense), net (2,395) 4,803 (1,275) 2,344 1,716 (12,709) 793 (200) 364 468 3,477 (10,400) Income (loss) before provision (benefit) for income taxes (13,883) (7,841) (20,701) (21,525) (9,614) (13,445) 3,930 (4,934) (3,039) 975 (63,950) (24,063) Provision (benefit) for income taxes 1,444 (389) 521 2,066 676 1,098 908 467 1,276 208 3,642 3,149 Net income (loss) (15,327) (7,452) (21,222) (23,591) (10,290) (14,543) 3,022 (5,401) (4,315) 767 (67,592) (27,212) Net income (loss) per share: Basic $ (0.13) $ (0.06) $ (0.17) $ (0.19) $ (0.08) $ (0.11) $ 0.02 $ (0.04) $ (0.03) $ 0.01 $ (0.56) $ (0.21) Diluted $ (0.13) $ (0.06) $ (0.17) $ (0.19) $ (0.08) $ (0.11) $ 0.02 $ (0.04) $ (0.03) $ 0.01 $ (0.56) $ (0.21) Weighted average number of shares: Basic 116,777 120,757 122,556 124,324 125,999 129,250 130,970 132,877 134,809 136,970 121,106 129,767 Diluted 116,777 120,757 122,556 124,324 125,999 129,250 135,742 132,877 134,809 141,561 121,106 129,767 Comprehensive income (loss): Net income (loss) (15,327) (7,452) (21,222) (23,591) (10,290) (14,543) 3,022 (5,401) (4,315) 767 (67,592) (27,212) Unrealized gain (loss) on investments in securities 290 7 (16) (1) (5) — — — — — 280 (5) Foreign currency translation adjustment 1,441 (4,320) 5,987 (2,014) (354) 8,363 (9,321) 3,759 6,258 (1,826) 1,094 2,447 Comprehensive income (loss) (13,596) (11,765) (15,251) (25,606) (10,649) (6,180) (6,299) (1,642) 1,943 (1,059) (66,218) (24,770) % of Revenue Service revenue gross profit 73.6 % 72.4 % 72.0 % 71.8 % 71.4 % 71.3 % 70.9 % 71.0 % 69.5 % 67.8 % 72.5 % 71.1 % Other revenue gross profit (4.3) % (10.3) % (20.9) % (21.5) % (43.9) % (27.8) % (34.0) % (31.5) % (40.5) % (41.1) % (13.6) % (34.1) % Total revenue gross profit 70.2 % 69.1 % 69.0 % 68.2 % 67.9 % 68.1 % 67.7 % 67.8 % 66.4 % 64.8 % 69.1 % 67.9 % Research and Development 19.3 % 18.5 % 18.1 % 18.9 % 18.0 % 17.3 % 16.7 % 16.9 % 15.6 % 15.2 % 18.7 % 17.2 % Sales and Marketing 37.4 % 37.1 % 37.0 % 37.8 % 37.7 % 35.8 % 36.7 % 37.8 % 37.6 % 34.7 % 37.3 % 37.0 % General and administrative 14.3 % 14.9 % 12.9 % 19.5 % 13.0 % 11.0 % 9.3 % 12.9 % 12.9 % 12.1 % 15.4 % 11.5 % Total Operating Expenses 70.9 % 70.5 % 74.2 % 76.2 % 68.7 % 64.1 % 62.7 % 67.6 % 66.1 % 61.9 % 72.9 % 65.7 % Income (loss) from operations (0.8) % (1.4) % (5.2) % (7.9) % (0.8) % 4.0 % 5.0 % 0.2 % 0.3 % 2.9 % (3.8) % 2.1 % GAAP CONSOLIDATED STATEMENT OF OPERATIONS Unaudited, in thousands except per share amounts Historical Financial Results Page 1
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(continued) FY2024 FY2025 FY2026 FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q4 YTD Q4 YTD 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Supplemental Information: Interest expense (8,970) (8,929) (8,878) (8,575) (8,894) (7,249) (5,415) (4,832) (4,558) (4,480) (35,352) (26,390) Capitalized interest — — — — — — — — (336) — — — Amortization of debt discount (1,108) (1,132) (1,157) (1,075) (1,062) (656) (427) (321) 926 (362) (4,472) (2,466) Total interest expense (10,078) (10,061) (10,035) (9,650) (9,956) (7,905) (5,842) (5,153) (3,968) (4,842) (39,824) (28,856) Gain (loss) on debt extinguishment (1,766) — — — — (11,996) (216) (113) (81) (46) (1,766) (12,325) Gain (loss) on warrants remeasurement (250) 2,781 (1,297) 942 1,747 263 (813) 1,028 209 37 2,176 2,225 Interest income 635 603 1,382 1,357 1,041 936 768 570 476 453 3,977 3,316 Gain (loss) on sale of assets — — — (179) — — — — — — (179) — Other income (expense) (1,014) 1,419 (1,360) 224 (1,072) (1,912) 1,054 (1,685) (240) 24 (731) (3,616) Other income (expense), net (2,395) 4,803 (1,275) 2,344 1,716 (12,709) 793 (200) 364 468 3,477 (10,400) GAAP CONSOLIDATED STATEMENT OF OPERATIONS Unaudited, in thousands except per share amounts Historical Financial Results Page 2
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FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2024 2025 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Service revenue $ 175,238 $ 177,782 $ 175,069 $ 172,490 $ 172,801 $ 175,075 $ 173,459 $ 171,588 $ 176,308 $ 179,094 $700,579 $692,923 Other revenue 8,049 7,217 5,937 6,923 5,346 5,923 5,423 5,455 5,053 5,001 28,126 22,147 Total revenue 183,287 184,999 181,006 179,413 178,147 180,998 178,882 177,043 181,361 184,095 728,705 715,070 Cost of service revenue 41,728 45,201 44,727 44,495 45,249 46,848 47,613 48,154 51,789 56,628 176,151 187,864 Cost of other revenue 7,725 7,462 6,644 7,939 7,172 7,112 6,928 6,760 6,599 6,524 29,770 27,972 Total cost of revenue 49,453 52,663 51,371 52,434 52,421 53,960 54,541 54,914 58,388 63,152 205,921 215,836 Gross profit 133,834 132,336 129,635 126,979 125,726 127,038 124,341 122,129 122,973 120,943 522,784 499,234 Operating expenses: Research and development 27,330 28,075 27,012 28,148 27,441 27,530 26,429 26,094 25,994 26,622 110,565 107,494 Sales and marketing 60,100 61,295 59,779 59,655 60,741 59,191 60,456 60,621 62,057 58,725 240,829 241,009 General and administrative 19,974 19,202 18,588 18,900 17,434 18,779 18,368 17,703 18,589 18,272 76,664 72,284 Total operating expenses 107,404 108,572 105,379 106,703 105,616 105,500 105,253 104,418 106,640 103,619 428,058 420,787 Income (loss) from operations 26,430 23,764 24,256 20,276 20,110 21,538 19,088 17,711 16,333 17,324 94,726 78,447 Interest expense (8,970) (8,929) (8,878) (8,575) (8,894) (7,249) (5,415) (4,832) (4,558) (4,480) (35,352) (26,390) Other income (expense), net (496) 1,905 (98) 921 (147) (1,092) 1,706 (1,115) 236 477 2,232 (648) Loss before provision (benefit) for income taxes 16,964 16,740 15,280 12,622 11,069 13,197 15,379 11,764 12,011 13,321 61,606 51,409 Provision (benefit) for income taxes 1,444 (389) 521 2,066 676 1,098 908 467 1,276 208 3,642 3,149 Net income (loss) $ 15,520 $ 17,129 $ 14,759 $ 10,556 $ 10,393 $ 12,099 $ 14,471 $ 11,297 $ 10,735 $ 13,113 $ 57,964 $ 48,260 Net income (loss) per share: Basic $ 0.13 $ 0.14 $ 0.12 $ 0.08 $ 0.08 $ 0.09 $ 0.11 $ 0.09 $ 0.08 $ 0.10 $ 0.48 $ 0.37 Diluted $ 0.13 $ 0.14 $ 0.12 $ 0.08 $ 0.08 $ 0.09 $ 0.11 $ 0.08 $ 0.08 $ 0.09 $ 0.47 $ 0.36 Weighted average number of shares: Basic 116,777 120,757 122,556 124,324 125,999 129,250 130,970 132,877 134,809 136,970 121,106 129,767 Diluted 118,445 122,624 124,253 125,962 127,433 131,294 135,742 138,678 138,569 141,561 122,560 133,654 As a % of Revenue Service revenue gross profit 76.2 % 74.6 % 74.5 % 74.2 % 73.8 % 73.2 % 72.6 % 71.9 % 70.6 % 68.4 % 74.9 % 72.9 % Other revenue gross profit 4.0 % (3.4) % (11.9) % (14.7) % (34.2) % (20.1) % (27.8) % (23.9) % (30.6) % (30.5) % (5.8) % (26.3) % Total revenue gross profit 73.0 % 71.5 % 71.6 % 70.8 % 70.6 % 70.2 % 69.5 % 69.0 % 67.8 % 65.7 % 71.7 % 69.8 % Research and development 14.9 % 15.2 % 14.9 % 15.7 % 15.4 % 15.2 % 14.8 % 14.7 % 14.3 % 14.5 % 15.2 % 15.0 % Sales and marketing 32.8 % 33.1 % 33.0 % 33.3 % 34.1 % 32.7 % 33.8 % 34.2 % 34.2 % 31.9 % 33.0 % 33.7 % General and administrative 10.9 % 10.4 % 10.3 % 10.5 % 9.8 % 10.4 % 10.3 % 10.0 % 10.2 % 9.9 % 10.5 % 10.1 % Operating Expenses 58.6 % 58.7 % 58.2 % 59.5 % 59.3 % 58.3 % 58.8 % 59.0 % 58.8 % 56.3 % 58.7 % 58.8 % Operating income 14.4 % 12.8 % 13.4 % 11.3 % 11.3 % 11.9 % 10.7 % 10.0 % 9.0 % 9.4 % 13.0 % 11.0 % NON-GAAP CONSOLIDATED STATEMENT OF OPERATIONS Unaudited, in thousands except for per share amounts Historical Financial Results Page 3
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GAAP CONSOLIDATED BALANCE SHEET Unaudited, in thousands except per share amounts FY2024 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 ASSETS Current assets: Cash and cash equivalents $ 122,229 $ 144,030 $ 168,513 $ 116,262 $ 130,764 $ 117,405 $ 104,165 $ 88,050 $ 81,315 $ 75,872 Restricted cash 165 521 356 356 461 462 462 462 105 812 Short-term investments 15,946 4,744 1,035 1,048 — — — — — — Accounts receivable, net 64,951 61,063 63,042 58,979 59,205 64,567 52,312 49,680 60,514 66,889 Deferred contract acquisition costs 38,247 37,610 36,996 35,933 34,625 34,107 32,046 30,935 29,679 27,733 Other current assets 32,930 33,967 32,528 35,258 32,723 29,810 30,105 34,739 36,367 34,316 Total current assets 274,468 281,935 302,470 247,836 257,778 246,351 219,090 203,866 207,980 205,622 Property and equipment, net 54,538 53,508 55,661 53,181 51,400 50,364 49,228 47,919 47,972 47,394 Operating lease, right-of-use assets 50,438 50,396 38,546 35,924 35,933 34,825 32,777 33,508 32,260 30,424 Intangible assets, net 102,013 96,914 91,816 86,717 81,618 76,519 71,420 67,949 64,474 60,973 Goodwill 266,386 265,732 267,453 266,574 266,399 269,229 266,217 271,530 274,476 273,803 Restricted cash, non-current 818 462 462 105 — — — 812 812 — Deferred contract acquisition costs, non-current 64,699 60,440 56,317 52,859 49,199 48,711 45,154 44,239 42,197 39,252 Other assets, non-current 15,103 14,336 13,993 12,783 13,412 14,127 14,325 13,354 14,177 13,288 Total assets $ 828,463 $ 823,723 $ 826,718 $ 755,979 $ 755,739 $ 740,126 $ 698,211 $ 683,177 $ 684,348 $ 670,756 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 42,537 $ 49,391 $ 49,493 $ 48,862 $ 51,727 $ 51,261 $ 53,072 $ 45,773 $ 42,890 $ 43,307 Accrued and other liabilities 78,862 71,700 73,232 78,102 75,369 68,783 61,601 63,025 73,768 66,872 Operating lease liabilities, current 11,469 11,623 11,763 11,295 11,564 11,707 11,386 11,102 11,003 10,740 Deferred revenue, current 40,410 33,223 32,778 34,325 33,701 37,696 33,394 37,751 42,130 43,569 Convertible senior notes, current 63,039 63,153 63,260 — — — — — — — Term loan, current — — — — — 39,393 16,524 11,593 6,648 19,173 Total current liabilities 236,317 229,090 230,526 172,584 172,361 208,840 175,977 169,244 176,439 183,661 Operating lease liabilities, non-current 62,850 61,926 59,417 56,647 55,179 52,785 49,842 49,196 47,010 44,420 Deferred revenue, non-current 10,618 10,231 10,128 7,810 7,659 6,594 5,960 706 645 477 Convertible senior notes, non-current 197,048 197,303 197,561 197,796 198,033 198,300 198,569 198,790 199,039 199,317 Term loan 209,534 210,303 211,092 211,894 212,718 159,194 149,437 139,581 129,695 107,299 Other liabilities, non-current 7,227 4,460 8,322 7,290 5,201 4,601 5,413 3,456 3,330 2,420 Total liabilities 723,594 713,313 717,046 654,021 651,151 630,314 585,198 560,973 556,158 537,594 Stockholders' equity: Common stock 119 122 123 125 128 131 131 134 136 139 Additional paid-in capital 924,190 941,493 956,005 973,895 987,171 998,572 1,008,072 1,018,902 1,022,943 1,028,971 Accumulated other comprehensive loss (11,196) (15,509) (9,538) (11,553) (11,912) (3,549) (12,870) (9,111) (2,853) (4,679) Accumulated deficit (808,244) (815,696) (836,918) (860,509) (870,799) (885,342) (882,320) (887,721) (892,036) (891,269) Total stockholders' equity 104,869 110,410 109,672 101,958 104,588 109,812 113,013 122,204 128,190 133,162 Total liabilities and stockholders' equity $ 828,463 $ 823,723 $ 826,718 $ 755,979 $ 755,739 $ 740,126 $ 698,211 $ 683,177 $ 684,348 $ 670,756 Historical Financial Results Page 4
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CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Cash flows from operating activities: Net income (loss) $ (15,327) $ (7,452) $ (21,222) $ (23,591) $ (10,290) $ (14,543) $ 3,022 $ (5,401) $ (4,315) $ 767 $ (67,592) $ (27,212) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation 2,126 1,964 2,043 2,168 1,908 1,848 1,866 1,765 1,690 1,701 8,301 7,387 Amortization of intangible assets 5,099 5,099 5,098 5,099 5,099 5,099 5,098 3,808 3,501 3,502 20,395 19,104 Amortization of capitalized internal-use software costs 5,282 4,779 4,357 4,068 3,758 3,264 2,959 2,748 2,673 3,012 18,486 12,729 Amortization of debt discount and issuance costs 1,109 1,131 1,157 1,075 1,062 656 427 321 336 362 4,472 2,466 Amortization of deferred contract acquisition costs 10,019 10,080 10,051 10,031 9,838 9,859 9,284 8,996 8,956 8,446 40,181 37,977 Allowance for credit losses 490 503 670 573 334 935 156 418 290 85 2,236 1,843 Operating lease expense, net of accretion 2,507 2,602 2,948 2,877 3,165 2,873 2,869 2,724 2,854 2,675 10,934 11,631 Impairment of right-of-use assets — — 11,034 — — — — — — — 11,034 — Stock-based compensation expense 18,195 14,522 14,118 15,075 12,801 9,376 9,533 8,230 6,352 5,363 61,910 39,940 Loss (gain) on debt extinguishment 1,766 — — — — 11,996 216 113 81 46 1,766 12,325 Loss (gain) on remeasurement of warrants 250 (2,781) 1,297 (942) (1,747) (263) 813 (1,028) (209) (37) (2,176) (2,225) Gain on sale of assets — — — 179 — — — — — — 179 — Other (184) 236 (622) 1,250 581 (4,207) 4,481 (1,201) (368) (34) 680 (346) Changes in assets and liabilities: Accounts receivable, net (3,397) 3,696 (2,487) 2,941 (732) (4,582) 10,460 2,699 (9,503) (6,889) 753 7,845 Deferred contract acquisition costs (7,209) (4,859) (5,027) (5,784) (4,803) (7,644) (5,134) (6,407) (4,471) (3,936) (22,879) (23,988) Other current and non-current assets 2,327 (3,633) 720 (1,762) (658) 1,508 (2,793) (5,674) (2,997) 1,665 (2,348) (7,617) Accounts payable and accrued liabilities (2,084) (850) (1,537) 289 (1,413) (7,473) (10,295) (5,629) 3,347 (9,400) (4,182) (24,810) Deferred revenue 5,504 (7,574) (202) (893) (755) 3,615 (5,746) (609) 3,656 1,507 (3,165) (3,495) Net cash provided by operating activities 26,473 17,463 22,396 12,653 18,148 12,317 27,216 5,873 11,873 8,835 78,985 63,554 Cash flows from investing activities: Purchases of property and equipment (186) (1,372) (783) (309) (382) (1,207) (456) (381) (377) (1,142) (2,650) (2,401) Capitalized internal-use software costs (3,488) (3,954) (3,471) (3,376) (3,025) (2,867) (2,570) (2,579) (4,039) (3,101) (14,289) (11,066) Purchases of investments (3,093) (3,081) — — — — — — — — (6,174) — Purchase of cost investment — — — — (771) — — — — — — (771) Maturities of investments 13,559 14,350 3,750 — 1,048 — — — — — 31,659 1,048 Acquisition of businesses, net of cash acquired — — — — — — — (3,234) — — — (3,234) Net cash provided by (used in) investing activities 6,792 5,943 (504) (3,685) (3,130) (4,074) (3,026) (6,194) (4,416) (4,243) 8,546 (16,424) Cash flows from financing activities: Proceeds from issuance of common stock under employee stock plans — 2,365 — 2,519 — 1,682 (1) 2,011 — 1,228 4,884 3,692 Payments for repurchases of common stock — — — — — — — — (1,848) — — — Payments for debt issuance costs — — — — — (1,114) (403) — — (70) — (1,517) Repayment of principal on term loan (25,000) — — — — (225,000) (33,000) (15,000) (15,000) (10,000) (25,000) (273,000) Gross proceeds from term loan — — — — — 200,000 — — — — — 200,000 Repayment and exchange of convertible senior notes — — — (63,295) — — — — — — (63,295) — Other financing activities — — — — (352) (352) (557) (3,020) (489) (480) — (4,281) Net cash provided by (used in) financing activities (25,000) 2,365 — (60,776) (352) (24,784) (33,961) (16,009) (17,337) (9,322) (83,411) (75,106) Effect of exchange rate changes on cash 2,218 (3,970) 2,426 (800) (164) 3,183 (3,469) 1,027 2,788 (818) (126) 577 Net increase (decrease) in cash and cash equivalents 10,483 21,801 24,318 (52,608) 14,502 (13,358) (13,240) (15,303) (7,092) (5,548) 3,994 (27,399) Cash, cash equivalents and restricted cash, beginning of period 112,729 123,212 145,013 169,331 116,723 131,225 117,867 104,627 89,324 82,232 172,943 176,937 Cash, cash equivalents and restricted cash, end of year $ 123,212 $ 145,013 $ 169,331 $ 116,723 $ 131,225 $ 117,867 $ 104,627 $ 89,324 $ 82,232 $ 76,684 $ 176,937 $ 149,538 Historical Financial Results Page 5
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CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, continued) FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Supplemental and non-cash disclosures: Interest paid $ 4,919 $ 12,880 $ 6,864 $ 10,911 $ 6,707 $ 9,617 $ 3,193 $ 6,780 $ 2,567 $ 6,471 $ 35,574 $ 26,297 Income taxes paid $ 336 $ 2,782 $ 2,326 $ 530 $ 479 $ 1,907 $ 708 $ 673 $ 574 $ 799 $ 5,974 $ 3,767 Payables and accruals for property and equipment $ 37 $ — $ 3,861 $ 3,868 $ 3,574 $ 3,207 $ 2,861 $ 132 $ 21 $ 108 $ 3,868 $ 132 Historical Financial Results Page 6
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GAAP to NON-GAAP Reconciliation FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Reconciliation of GAAP to Non-GAAP Financial Measures: Cost of Revenue: GAAP cost of service revenue $ 46,276 $ 49,144 $ 48,983 $ 48,557 $ 49,496 $ 50,251 $ 50,529 $ 49,818 $ 53,822 $ 57,699 $ 192,960 $ 200,094 Amortization of acquired intangible assets (2,118) (2,118) (2,118) (2,115) (2,117) (2,118) (2,117) (824) (507) (514) (8,469) (7,176) Stock-based compensation expense and related employer payroll taxes (2,224) (1,743) (1,694) (1,767) (1,608) (1,230) (857) (759) (582) (476) (7,428) (4,454) Legal and regulatory costs — — — — — — 55 — — — — 55 Severance, transition and contract exit costs (206) (82) (444) (180) (522) (55) 3 (81) (944) (81) (912) (655) Non-GAAP cost of service revenue $ 41,728 $ 45,201 $ 44,727 $ 44,495 $ 45,249 $ 46,848 $ 47,613 $ 48,154 $ 51,789 $ 56,628 $ 176,151 $ 187,864 GAAP service revenue margin $ 128,962 $ 128,638 $ 126,086 $ 123,933 $ 123,305 $ 124,824 $ 122,930 $ 121,770 $ 122,486 $ 121,395 $ 507,619 $ 492,829 Non-GAAP service revenue margin $ 133,510 $ 132,581 $ 130,342 $ 127,995 $ 127,552 $ 128,227 $ 125,846 $ 123,434 $ 124,519 $ 122,466 $ 524,428 $ 505,059 GAAP cost of other revenue $ 8,398 $ 7,958 $ 7,177 $ 8,412 $ 7,691 $ 7,572 $ 7,268 $ 7,173 $ 7,099 $ 7,056 $ 31,945 $ 29,704 Stock-based compensation expense and related employer payroll taxes (651) (468) (459) (442) (419) (304) (272) (218) (147) (89) (2,020) (1,213) Legal and regulatory costs — — — — — — 62 — — — — 62 Severance, transition and contract exit costs (22) (28) (74) (31) (100) (156) (130) (195) (353) (443) (155) (581) Non-GAAP cost of other revenue $ 7,725 $ 7,462 $ 6,644 $ 7,939 $ 7,172 $ 7,112 $ 6,928 $ 6,760 $ 6,599 $ 6,524 $ 29,770 $ 27,972 GAAP other revenue margin $ (349) $ (741) $ (1,240) $ (1,489) $ (2,345) $ (1,649) $ (1,845) $ (1,718) $ (2,046) $ (2,055) $ (3,819) $ (7,557) Non-GAAP other revenue margin $ 324 $ (245) $ (707) $ (1,016) $ (1,826) $ (1,189) $ (1,505) $ (1,305) $ (1,546) $ (1,523) $ (1,644) $ (5,825) GAAP gross margin $ 128,613 $ 127,897 $ 124,846 $ 122,444 $ 120,960 $ 123,175 $ 121,085 $ 120,052 $ 120,440 $ 119,340 $ 503,800 $ 485,272 Non-GAAP gross margin $ 133,834 $ 132,336 $ 129,635 $ 126,979 $ 125,726 $ 127,038 $ 124,341 $ 122,129 $ 122,973 $ 120,943 $ 522,784 $ 499,234 Operating Expenses: GAAP research and development $ 35,292 $ 34,207 $ 32,787 $ 33,930 $ 32,137 $ 31,291 $ 29,833 $ 29,950 $ 28,364 $ 27,918 $ 136,216 $ 123,211 Stock-based compensation expense and related employer payroll taxes (7,438) (5,345) (5,190) (5,469) (4,657) (3,348) (3,209) (2,536) (1,509) (1,211) (23,442) (13,750) Acquisition and integration costs (213) 115 — — — — — (8) — — (98) (8) Legal and regulatory costs — — — — — — 352 — — — — 352 Severance, transition and contract exit costs (311) (902) (585) (313) (39) (413) (547) (1,312) (861) (85) (2,111) (2,311) Non-GAAP research and development $ 27,330 $ 28,075 $ 27,012 $ 28,148 $ 27,441 $ 27,530 $ 26,429 $ 26,094 $ 25,994 $ 26,622 $ 110,565 $ 107,494 GAAP sales and marketing $ 68,505 $ 68,687 $ 66,997 $ 67,755 $ 67,106 $ 64,867 $ 65,644 $ 66,844 $ 68,184 $ 63,835 $ 271,944 $ 264,461 Amortization of acquired intangible assets (2,982) (2,982) (2,982) (2,980) (2,982) (2,981) (2,981) (2,984) (2,990) (2,984) (11,926) (11,928) Stock-based compensation expense and related employer payroll taxes (5,254) (4,176) (3,894) (3,400) (3,258) (2,305) (2,373) (2,145) (2,071) (1,823) (16,724) (10,081) Legal and regulatory cost — — — — — — 335 — — — — 335 Severance, transition and contract exit costs (169) (234) (342) (1,720) (125) (390) (169) (1,094) (1,066) (303) (2,465) (1,778) Non-GAAP sales and marketing $ 60,100 $ 61,295 $ 59,779 $ 59,655 $ 60,741 $ 59,191 $ 60,456 $ 60,621 $ 62,057 $ 58,725 $ 240,829 $ 241,009 Historical Financial Results Page 7
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GAAP to NON-GAAP Reconciliation (continued) FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 GAAP general and administrative $ 26,226 $ 27,586 $ 23,419 $ 34,978 $ 23,091 $ 19,848 $ 16,629 $ 22,839 $ 23,327 $ 22,238 $ 112,209 $ 82,407 Amortization of acquired intangible assets — — — — — — — — (4) (4) — — Stock-based compensation expense and related employer payroll taxes (4,108) (3,695) (3,653) (4,787) (3,651) (2,658) (3,058) (2,957) (2,600) (2,163) (16,243) (12,324) Acquisition and integration costs (130) (422) (102) (145) (123) (193) (244) (533) — — (799) (1,093) Legal and regulatory cost (1,468) (3,879) (98) (10,072) (548) 3,166 6,045 (102) (835) (717) (15,517) 8,561 Severance, transition and related exit costs (546) (388) (978) (1,074) (1,335) (1,384) (1,004) (1,544) (1,299) (1,082) (2,986) (5,267) Non-GAAP general and administrative $ 19,974 $ 19,202 $ 18,588 $ 18,900 $ 17,434 $ 18,779 $ 18,368 $ 17,703 $ 18,589 $ 18,272 $ 76,664 $ 72,284 GAAP Operating Expenses $ 130,023 $ 130,480 $ 123,203 $ 136,663 $ 122,334 $ 116,006 $ 112,106 $ 119,633 $ 119,875 $ 113,991 $ 520,369 $ 470,079 Amortization of acquired intangible assets (2,982) (2,982) (2,982) (2,980) (2,982) (2,981) (2,981) (2,984) (2,994) (2,988) (11,926) (11,928) Stock-based compensation expense and related employer payroll taxes (16,800) (13,216) (12,737) (13,656) (11,566) (8,311) (8,640) (7,638) (6,180) (5,197) (56,409) (36,155) Acquisition and integration costs (343) (307) (102) (145) (123) (193) (244) (541) — — (897) (1,101) Legal and regulatory cost (1,468) (3,879) (98) (10,072) (548) 3,166 6,732 (102) (835) (717) (15,517) 9,248 Severance, transition and contract exit costs (1,026) (1,524) (1,905) (3,107) (1,499) (2,187) (1,720) (3,950) (3,226) (1,470) (7,562) (9,356) Non-GAAP Operating Expenses $ 107,404 $ 108,572 $ 105,379 $ 106,703 $ 105,616 $ 105,500 $ 105,253 $ 104,418 $ 106,640 $ 103,619 $ 428,058 $ 420,787 Operating Profit (Loss): GAAP income (loss) from operations $ (1,410) $ (2,583) $ (9,391) $ (14,219) $ (1,374) $ 7,169 $ 8,979 $ 419 $ 565 $ 5,349 $ (27,603) $ 15,193 Amortization of acquired intangible assets 5,100 5,100 5,100 5,095 5,099 5,099 5,098 3,808 3,501 3,502 20,395 19,104 Stock-based compensation expense and related employer payroll taxes 19,675 15,427 14,890 15,865 13,593 9,845 9,769 8,615 6,909 5,762 65,857 41,822 Acquisition and integration costs 343 307 102 145 123 193 244 541 — — 897 1,101 Legal and regulatory costs 1,468 3,879 98 10,072 548 (3,166) (6,849) 102 835 717 15,517 (9,365) Severance, transition and contract exit costs 1,254 1,634 2,423 3,318 2,121 2,398 1,847 4,226 4,523 1,994 8,629 10,592 Impairment of long-lived assets — — 11,034 — — — — — — — 11,034 — Non-GAAP operating profit $ 26,430 $ 23,764 $ 24,256 $ 20,276 $ 20,110 $ 21,538 $ 19,088 $ 17,711 $ 16,333 $ 17,324 $ 94,726 $ 78,447 Interest Expense: GAAP interest expense $ (10,078) $ (10,061) $ (10,035) $ (9,650) $ (9,956) $ (7,905) $ (5,842) $ (5,153) $ (3,968) $ (4,842) $ (39,824) $ (28,856) Amortization of debt discount and issuance cost 1,108 1,132 1,157 1,075 1,062 656 427 321 336 362 4,472 2,466 Capitalized interest — — — — — — — — (926) — — — Non-GAAP interest expense $ (8,970) $ (8,929) $ (8,878) $ (8,575) $ (8,894) $ (7,249) $ (5,415) $ (4,832) $ (4,558) $ (4,480) $ (35,352) $ (26,390) Other Income (Expenses): GAAP other income (expense), net $ (2,395) $ 4,803 $ (1,275) $ 2,344 $ 1,716 $ (12,709) $ 793 $ (200) $ 364 $ 468 $ 3,477 $ (10,400) Legal and regulatory costs — — — (550) — — — — — — (550) — (Gain) loss on debt extinguishment 1,766 — — — — 11,996 216 113 81 46 1,766 12,325 (Gain) loss on warrants remeasurement 250 (2,781) 1,297 (942) (1,747) (263) 813 (1,028) (209) (37) (2,176) (2,225) (Loss) gain on sale of assets — — — 179 — — — — — — 179 — Other income (117) (117) (120) (110) (116) (116) (116) — — — (464) (348) Non-GAAP other income and expense $ (496) $ 1,905 $ (98) $ 921 $ (147) $ (1,092) $ 1,706 $ (1,115) $ 236 $ 477 $ 2,232 $ (648) Historical Financial Results Page 8
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GAAP to NON-GAAP Reconciliation (continued) FY2024 FY2025 FY2026 Fiscal Years Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 3/31/24 3/31/25 Net Income (Loss): GAAP net income (loss) $ (15,327) $ (7,452) $ (21,222) $ (23,591) $ (10,290) $ (14,543) $ 3,022 $ (5,401) $ (4,315) $ 767 $ (67,592) $ (27,212) Amortization of acquired intangible assets 5,100 5,100 5,100 5,095 5,099 5,099 5,098 3,808 3,501 3,502 20,395 19,104 Stock-based compensation expense and related employer payroll taxes 19,675 15,427 14,890 15,865 13,593 9,845 9,769 8,615 6,909 5,762 65,857 41,822 Acquisition and integration costs 343 307 102 145 123 193 244 541 — — 897 1,101 Legal and regulatory costs 1,468 3,879 98 9,522 548 (3,166) (6,849) 102 835 717 14,967 (9,365) Severance, transition and contract exit costs 1,254 1,634 2,423 3,318 2,121 2,398 1,847 4,226 4,523 1,994 8,629 10,592 Impairment of long-lived assets — — 11,034 — — — — — — — 11,034 — Amortization of debt discount and issuance cost 1,108 1,132 1,157 1,075 1,062 656 427 321 336 362 4,472 2,466 (Gain) loss on debt extinguishment 1,766 — — — — 11,996 216 113 81 46 1,766 12,325 (Gain) loss on warrants remeasurement 250 (2,781) 1,297 (942) (1,747) (263) 813 (1,028) (209) (37) (2,176) (2,225) (Loss) gain on sale of assets — — — 179 — — — — — — 179 — Other income (117) (117) (120) (110) (116) (116) (116) — (926) — (464) (348) Income tax expense effects, net — — — — — — — — — — — — Non-GAAP net income $ 15,520 $ 17,129 $ 14,759 $ 10,556 $ 10,393 $ 12,099 $ 14,471 $ 11,297 $ 10,735 $ 13,113 $ 57,964 $ 48,260 Interest expense 8,970 8,929 8,878 8,575 8,894 7,249 5,415 4,832 4,558 4,480 35,352 26,390 Provision (benefit) for income taxes 1,444 (389) 521 2,066 676 1,098 908 467 1,276 208 3,642 3,149 Depreciation 2,126 1,964 2,043 2,168 1,908 1,848 1,866 1,765 1,690 1,701 8,301 7,387 Amortization of capitalized internal-use software costs 5,282 4,779 4,358 4,067 3,758 3,264 2,959 2,748 2,673 3,012 18,486 12,729 Other expense (income), net 496 (1,905) 98 (1,471) 147 1,092 (1,706) 1,115 (236) (477) (2,782) 648 Adjusted EBITDA $ 33,838 $ 30,507 $ 30,657 $ 25,961 $ 25,776 $ 26,650 $ 23,913 $ 22,224 $ 20,696 $ 22,037 $ 120,963 $ 98,563 Shares used in computing net income (loss) per share amounts: Basic 116,777 120,757 122,556 124,324 125,999 129,250 130,970 132,877 134,809 136,970 121,106 129,767 Diluted 118,445 122,624 124,253 125,962 127,433 131,294 135,742 138,678 138,569 141,561 122,560 133,654 GAAP net income (loss) per share - Basic $ (0.13) $ (0.06) $ (0.17) $ (0.19) $ (0.08) $ (0.11) $ 0.02 $ (0.04) $ (0.03) $ 0.01 $ (0.56) $ (0.21) GAAP net income (loss) per share - Diluted $ (0.13) $ (0.06) $ (0.17) $ (0.19) $ (0.08) $ (0.11) $ 0.02 $ (0.04) $ (0.03) $ 0.01 $ (0.56) $ (0.21) Non-GAAP net income per share - Basic $ 0.13 $ 0.14 $ 0.12 $ 0.08 $ 0.08 $ 0.09 $ 0.11 $ 0.09 $ 0.08 $ 0.10 $ 0.48 $ 0.37 Non-GAAP net income per share - Diluted $ 0.13 $ 0.14 $ 0.12 $ 0.08 $ 0.08 $ 0.09 $ 0.11 $ 0.08 $ 0.08 $ 0.09 $ 0.47 $ 0.36 Historical Financial Results Page 9