CAMPBELL, Calif. - 8x8, Inc. (NASDAQ: EGHT), a provider of business communications and customer experience solutions, today announced the addition of John Pagliuca to its Board of Directors. Pagliuca, the President and CEO of N-able (NYSE:NABL), brings over two decades of leadership experience within the software and Software (ETR:SOWGn) as a Service (SaaS) industries to the 8x8 board.
The appointment, effective today, adds a seasoned executive to the 8x8 leadership. Pagliuca's career includes significant roles such as Executive Vice President of SolarWinds (NYSE:SWI) and President of Solar Winds MSP. His tenure at SolarWinds followed his position as Chief Financial Officer at LOGICNow, which was acquired by SolarWinds. His previous experience also includes serving as the Vice President of Finance and Operations at GFI Software and the Vice President of Finance for Airvana. His contributions were pivotal in Airvana's public offering in 2007 and its subsequent earnings growth to over $500 million before its acquisition by a private equity firm in 2010.
"We are thrilled to welcome John Pagliuca to the Board of Directors," said Samuel Wilson, CEO of 8x8. He commended Pagliuca's track record in driving revenue and business growth, expressing confidence in the value he will add to the board.
With this new appointment, the 8x8 Board of Directors now comprises eight members, whose details are available on the company's website. 8x8 specializes in a unified platform for business communications, contact center operations, and communication APIs, aiming to improve customer experiences and operational efficiency by integrating interaction data across various touchpoints.
This expansion of the board is part of 8x8's ongoing efforts to strengthen its leadership team and strategic direction. The information is based on a press release statement from 8x8, Inc.
In other recent news, 8x8 Inc (NASDAQ:EGHT). has exceeded market expectations in the second quarter of fiscal 2025, reporting a service revenue of $175.1 million and a non-GAAP operating margin of 11.9%. The company highlighted a considerable growth in sales of new products and AI-based solutions. The company's total debt was reduced by over $173 million since Q2 2023, now standing at $369 million. In terms of future developments, 8x8 is expecting to complete customer upgrades from the Fuze platform by the end of 2025.
For Q3, 8x8 anticipates service revenue between $171 million and $174 million and total revenue between $177 million and $182 million, with an operating margin of 10% to 11%. The company's service revenue for fiscal year 2025 is forecasted at $690 million to $701 million, and total revenue at $714 million to $727 million. Despite the strong performance, there is a slight expected decline in service revenue due to cautious guidance and uncertainties in the CPaaS business. However, the company has witnessed increased demand for AI-based solutions, indicating positive momentum.
InvestingPro Insights
As 8x8, Inc. (NASDAQ: EGHT) welcomes John Pagliuca to its Board of Directors, investors may find additional context from recent financial data and expert insights. According to InvestingPro, 8x8 has shown a strong return over the last month and three months, with price total returns of 41.92% and 66.27% respectively. This recent performance could indicate growing market confidence in the company's strategic direction, potentially influenced by leadership changes like Pagliuca's appointment.
InvestingPro Tips highlight that 4 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for 8x8's future performance. This aligns with the company's efforts to strengthen its leadership and potentially improve its financial outlook.
However, it's worth noting that 8x8 is currently trading at a high EBITDA valuation multiple, which investors should consider when evaluating the stock. The company's market capitalization stands at $360.62 million, reflecting its current market position in the business communications sector.
For those interested in a deeper analysis, InvestingPro offers 10 additional tips for 8x8, providing a more comprehensive view of the company's financial health and market position.
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