EGHT - 8x8 Inc. (EGHT) Q3 2024 Earnings Call Transcript
2024-01-31 21:47:02 ET
8x8, Inc. (EGHT)
Q3 2024 Earnings Conference Call
January 31, 2024, 05:00 PM ET
Company Participants
Kate Patterson - VP, IR
Samuel Wilson - CEO
Kevin Kraus - CFO
Conference Call Participants
Matthew VanVliet - BTIG
Sitikantha Panigrahi - Mizuho
Eamon Coughlin - Barclays
Michael Funk - Bank of America
Meta Marshall - Morgan Stanley
Josh Nichols - B. Riley
Peter Levine - Evercore
Catharine Trebnick - Rosenblatt
Ryan Koontz - Needham & Company
Presentation
Operator
Hello and thank you for standing by. Welcome to the 8x8 Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised today's conference is being recorded.
I would now like to hand the conference over to Kate Patterson. You may begin.
Kate Patterson
Thank you. Good afternoon everyone. Today's agenda will include a review of our third quarter results with Samuel Wilson, our Chief Executive Officer; and Kevin Kraus, our Chief Financial Officer.
Following our prepared remarks, there will be a question-and-answer session. Before we get started, let me remind you that our discussion today includes forward-looking statements about our future financial performance, including investments in innovation and our focus on profitability and cash flow as well as statements regarding our business, product, and growth strategies.
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 forward-looking statements, as described in our risk factors in our reports filed with the SEC.
Any forward-looking statements made on this call and in the presentation slides reflect our analysis as of today and we have no plans, or obligation to update them. Certain financial measures that will be discussed on this call together with year-over-year comparisons in some cases, were not prepared in accordance with U.S. Generally Accepted Accounting Principles or GAAP.
A reconciliation of these non-GAAP measures to the closest comparable GAAP measure is provided in our earnings press release and earnings presentation slides, which are available on 8x8 Investor Relations website at investors.8x8.com.
With that, I'll turn the call over to Sam Wilson.
Samuel Wilson
Thank you, Kate and thank you to all of our investors, analysts, employees, customers and partners for joining us on our Q3 call.
We delivered solid operating results again in the third quarter. Our financial North Star is cash flow from operations per share, and our cash flow from operations performance for the quarter was the second highest ever.
Cash flow from operations on a trailing 12-month basis is up 55% year-over-year, and we continue to be very mindful of share count. Cash flow was driven by non-GAAP operating margins significantly above our guidance range. Q3, '24 marks the anniversary of the official launch of our innovation-led strategy to build durable, long-term growth....
8x8, Inc. (EGHT) Q3 2024 Earnings Call Transcript