Revenue growth has recovered to 4.9% in 2027Q1 on $190.2M of sales, but gross margin has compressed from 68.1% in 2025Q2 to 61.2% while operating margin remains a thin 2.3% ($4.4M operating income).
8x8, Inc. (EGHT) annual income statement — 30-year revenue, gross profit & net income history
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 | Mar'97 |
|---|
| Sales/Revenue | 752.47M | 735.75M | 715.07M | 728.71M | 728.71M | 638.13M | 532.34M | 446.24M | 352.59M | 296.5M | 253.39M | 209.34M | 162.41M | 128.6M | 107.61M | 85.8M | 70.16M | 63.4M | 64.67M | 61.65M | 53.13M | 31.89M | 11.47M | 9.31M | 11M | 14.69M | 18.23M | 25.38M | 31.68M | 49.78M | 19.1M |
| Revenue Growth % | 4.31% | 2.89% | -1.87% | 0% | 14.19% | 19.87% | 19.3% | 26.56% | 18.92% | 17.01% | 21.04% | 28.89% | 26.3% | 19.5% | 25.42% | 22.29% | 10.67% | -1.98% | 4.91% | 16.03% | 66.59% | 177.93% | 23.28% | -15.4% | -25.1% | -19.4% | -28.19% | -19.88% | -36.35% | 160.61% | - |
| Cost of Goods Sold | 285.35M | 260.7M | 229.8M | 224.91M | 224.91M | 247.56M | 230.15M | 201.23M | 129.97M | 71.17M | 62.11M | 57.25M | 45.56M | 37.62M | 34M | 27.89M | 22.62M | 20.86M | 22.85M | 23.43M | 27.09M | 23.1M | 9.74M | 4.36M | 4.29M | 2.82M | 6.99M | 8.6M | 24.28M | 18.85M | 6.6M |
| COGS % of Revenue | - | 35.43% | 32.14% | 30.86% | 30.86% | 38.79% | 43.23% | 45.09% | 36.86% | 24% | 24.51% | 27.35% | 28.05% | 29.25% | 31.6% | 32.5% | 32.24% | 32.9% | 35.33% | 38.01% | 51% | 72.43% | 84.89% | 46.86% | 38.99% | 19.22% | 38.33% | 33.87% | 76.64% | 37.87% | 34.55% |
| Gross Profit | 467.12M | 475.05M | 485.27M | 503.8M | 503.8M | 390.57M | 302.19M | 245.01M | 222.61M | 225.33M | 191.27M | 152.09M | 116.85M | 90.98M | 73.61M | 57.92M | 47.54M | 42.54M | 41.83M | 38.21M | 26.04M | 8.79M | 1.73M | 4.95M | 6.71M | 11.87M | 11.24M | 16.79M | 7.4M | 30.93M | 12.5M |
| Gross Margin % | 62.08% | 64.57% | 67.86% | 69.14% | 69.14% | 61.21% | 56.77% | 54.91% | 63.14% | 76% | 75.49% | 72.65% | 71.95% | 70.75% | 68.4% | 67.5% | 67.76% | 67.1% | 64.67% | 61.99% | 49% | 27.57% | 15.11% | 53.14% | 61.01% | 80.78% | 61.67% | 66.13% | 23.36% | 62.13% | 65.44% |
| Gross Profit Growth % | - | -2.11% | -3.68% | 0% | 28.99% | 29.25% | 23.34% | 10.06% | -1.2% | 17.8% | 25.76% | 30.16% | 28.43% | 23.6% | 27.1% | 21.83% | 11.75% | 1.71% | 9.45% | 46.77% | 196.1% | 407.09% | -64.94% | -26.32% | -43.44% | 5.57% | -33.03% | 126.81% | -76.07% | 147.4% | - |
| Operating Expenses | 438.76M | 456.11M | 470.08M | 531.4M | 531.4M | 544.71M | 448.34M | 404.83M | 313.6M | 257.76M | 197.94M | 159.16M | 113.97M | 87.91M | 63.01M | 50.74M | 41.3M | 38.56M | 44.89M | 41.93M | 40.37M | 33.78M | 21.64M | 8.81M | 15.28M | 21.88M | 47.84M | 33.83M | 27.63M | 29.7M | 26M |
| OpEx % of Revenue | - | 61.99% | 65.74% | 72.92% | 72.92% | 85.36% | 84.22% | 90.72% | 88.94% | 86.93% | 78.12% | 76.03% | 70.17% | 68.36% | 58.55% | 59.13% | 58.86% | 60.83% | 69.41% | 68.02% | 75.98% | 105.92% | 188.61% | 94.62% | 138.83% | 148.95% | 262.43% | 133.27% | 87.22% | 59.66% | 136.13% |
| Selling, General & Admin | 323.15M | 343.13M | 346.87M | 384.15M | 419.88M | 432.33M | 356.31M | 327.04M | 251.54M | 222.96M | 170.49M | 135.12M | 98.85M | 76.27M | 54.86M | 43.99M | 36.48M | 33.52M | 39.68M | 37.6M | 35.66M | 27.86M | 18.53M | 6.06M | 7.44M | 9.55M | 18.11M | 21.31M | 17.71M | 17.38M | 10.1M |
| SG&A % of Revenue | - | 46.64% | 48.51% | 52.72% | 57.62% | 67.75% | 66.93% | 73.29% | 71.34% | 75.2% | 67.28% | 64.55% | 60.86% | 59.31% | 50.98% | 51.27% | 51.99% | 52.87% | 61.35% | 60.99% | 67.11% | 87.37% | 161.52% | 65.11% | 67.63% | 65.03% | 99.37% | 83.94% | 55.91% | 34.92% | 52.88% |
| Research & Development | 112.23M | 112.98M | 123.21M | 136.22M | 136.22M | 112.39M | 92.03M | 77.79M | 62.06M | 34.8M | 27.45M | 24.04M | 15.12M | 11.63M | 8.15M | 6.75M | 4.82M | 5.05M | 5.21M | 4.33M | 4.71M | 5.92M | 3.11M | 2.75M | 7.83M | 11.56M | 18.74M | 11.91M | 9.92M | 12.32M | 10.5M |
| R&D % of Revenue | - | 15.36% | 17.23% | 18.69% | 18.69% | 17.61% | 17.29% | 17.43% | 17.6% | 11.74% | 10.83% | 11.48% | 9.31% | 9.05% | 7.57% | 7.86% | 6.87% | 7.96% | 8.06% | 7.03% | 8.87% | 18.55% | 27.09% | 29.51% | 71.21% | 78.72% | 102.79% | 46.92% | 31.32% | 24.74% | 54.97% |
| Other Operating Expenses | 1.45M | 0 | 0 | 11.03M | -24.7M | 0 | 0 | 0 | 2.82M | 0 | 1.79M | 1.11M | 833K | 742K | 105K | -305K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 763K | 10.99M | 614K | 0 | 0 | 5.4M |
| Operating Income | 28.35M | 18.94M | 15.19M | -27.6M | -27.6M | -154.14M | -146.15M | -159.82M | -90.99M | -41.9M | -6.67M | -7.07M | 3.88M | 3.08M | 23.57M | 7.18M | 6.24M | 3.98M | -3.07M | -3.72M | -14.33M | -24.99M | -19.91M | -3.86M | -12M | -10.01M | -74.47M | -27.14M | -20.23M | 1.23M | -13.5M |
| Operating Margin % | 3.77% | 2.57% | 2.12% | -3.79% | -3.79% | -24.16% | -27.45% | -35.81% | -25.81% | -14.13% | -2.63% | -3.38% | 2.39% | 2.39% | 21.9% | 8.37% | 8.9% | 6.27% | -4.74% | -6.03% | -26.98% | -78.35% | -173.5% | -41.48% | -109.06% | -68.16% | -408.56% | -106.93% | -63.86% | 2.46% | -70.68% |
| Operating Income Growth % | - | 24.65% | 155.04% | 0% | 82.09% | -5.47% | 8.55% | -75.65% | -117.18% | -528.22% | 5.73% | -282.23% | 26.24% | -86.95% | 228.28% | 14.97% | 57.08% | 229.61% | 17.51% | 74.06% | 42.64% | -25.5% | -415.64% | 67.83% | -19.83% | 86.55% | -174.36% | -34.16% | -1748.98% | 109.09% | - |
| EBITDA | 50.13M | 51.21M | 54.41M | 19.58M | 24.68M | -105.59M | -101.03M | -122.59M | -66.32M | -26.18M | 3.77M | 1.93M | 9.99M | 7.43M | 27.52M | 9.5M | 7.57M | 4.97M | -1.8M | -2.24M | -12.87M | -24.2M | -19.69M | -3.3M | -10.22M | -6.15M | -60.12M | -24.86M | -18.85M | 3.39M | -8.1M |
| EBITDA Margin % | 6.66% | 6.96% | 7.61% | 2.69% | 3.39% | -16.55% | -18.98% | -27.47% | -18.81% | -8.83% | 1.49% | 0.92% | 6.15% | 5.78% | 25.57% | 11.07% | 10.79% | 7.84% | -2.78% | -3.64% | -24.23% | -75.88% | -171.63% | -35.41% | -92.88% | -41.88% | -329.81% | -97.96% | -59.5% | 6.82% | -42.41% |
| EBITDA Growth % | 1.01% | -5.89% | 177.92% | -20.66% | 123.37% | -4.51% | 17.59% | -84.86% | -153.32% | -794.77% | 94.93% | -80.66% | 34.49% | -72.99% | 189.6% | 25.47% | 52.28% | 376.59% | 19.88% | 82.57% | 46.81% | -22.88% | -497.51% | 67.75% | -66.12% | 89.77% | -141.78% | -31.91% | -655.56% | 141.89% | - |
| D&A (Non-Cash Add-back) | 20.67M | 32.27M | 39.22M | 47.18M | 52.28M | 48.55M | 45.12M | 37.23M | 24.67M | 15.72M | 10.44M | 9.01M | 6.11M | 4.36M | 3.95M | 2.32M | 1.33M | 998K | 1.27M | 1.47M | 1.46M | 787K | 215K | 565K | 1.78M | 3.86M | 14.36M | 2.28M | 1.38M | 2.17M | 5.4M |
| EBIT | 27.37M | 21.29M | 4.79M | -24.13M | -24.13M | -153.09M | -146.03M | -159.82M | -89.63M | -32.43M | -6.67M | -7.07M | 2.88M | 3.08M | 9.78M | 8.63M | 6.24M | 3.98M | -3.07M | -3.72M | -14.33M | -24.99M | -19.91M | -3.86M | -8.56M | -10.01M | -36.59M | -17.04M | -20.23M | 1.23M | -13.49M |
| Net Interest Income | -16.34M | 17.77M | -25.54M | -39.82M | -35.85M | -22.68M | -18.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 999K | 0 | 3.32M | 0 | 3.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 17.34M | -17.77M | 28.86M | 39.82M | 39.82M | 22.68M | 18.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -19.14M | -15.41M | -39.26M | -36.35M | -36.35M | -21.63M | -18.59M | -11.72M | 2.82M | 3.69M | 1.79M | 1.11M | 833K | 742K | 105K | -305K | 305K | -93K | 612K | 3.75M | 4.4M | 847K | 4.36M | 822K | 597K | 145K | 1.17M | 2.42M | 1.01M | 1.52M | 69K |
| Pretax Income | 9.21M | 3.53M | -24.06M | -63.95M | -63.95M | -175.77M | -164.74M | -171.54M | -88.17M | -38.2M | -4.88M | -5.97M | 4.71M | 3.82M | 23.67M | 6.87M | 6.55M | 3.88M | -2.46M | 30K | -9.93M | -24.14M | -19.35M | -3.04M | -11.4M | -9.87M | -73.3M | -24.73M | -19.22M | 2.75M | -13.4M |
| Pretax Margin % | 1.22% | 0.48% | -3.37% | -8.78% | -8.78% | -27.54% | -30.95% | -38.44% | -25.01% | -12.88% | -1.92% | -2.85% | 2.9% | 2.97% | 22% | 8.01% | 9.33% | 6.12% | -3.8% | 0.05% | -18.69% | -75.69% | -168.64% | -32.65% | -103.64% | -67.18% | -402.13% | -97.42% | -60.68% | 5.51% | -70.16% |
| Income Tax | 1.83M | 1.88M | 3.15M | 3.64M | 3.64M | -387K | 843K | 832K | 569K | 66.29M | -126K | -847K | 2.79M | 2.22M | 9.73M | -62.35M | 55K | 3K | 45K | 0 | 0 | -847K | -203K | 0 | 0 | 15K | 17K | 120K | 0 | -982K | 200K |
| Effective Tax Rate % | 19.86% | 53.26% | -13.09% | -5.7% | -5.7% | 0.22% | -0.51% | -0.49% | -0.65% | -173.53% | 2.58% | 14.19% | 59.15% | 58.13% | 41.12% | -907.1% | 0.84% | 0.08% | -1.83% | 0% | 0% | 3.51% | 1.05% | 0% | 0% | -0.15% | -0.02% | -0.49% | 0% | -35.77% | -1.49% |
| Net Income | 7.38M | 1.65M | -27.21M | -67.59M | -67.59M | -175.38M | -165.59M | -172.37M | -88.74M | -104.5M | -4.75M | -5.12M | 1.93M | 2.51M | 13.94M | 69.23M | 6.49M | 3.88M | -2.5M | 30K | -9.93M | -24.14M | -19.15M | -3.04M | -11.4M | -9.11M | -74.4M | -24.85M | -19.22M | 3.73M | -13.6M |
| Net Margin % | 0.98% | 0.22% | -3.81% | -9.28% | -9.28% | -27.48% | -31.1% | -38.63% | -25.17% | -35.24% | -1.88% | -2.45% | 1.19% | 1.95% | 12.95% | 80.68% | 9.26% | 6.12% | -3.87% | 0.05% | -18.69% | -75.69% | -166.87% | -32.65% | -103.64% | -61.98% | -408.16% | -97.89% | -60.68% | 7.49% | -71.2% |
| Net Income Growth % | 224.58% | 106.06% | 59.74% | 0% | 61.46% | -5.92% | 3.94% | -94.24% | 15.08% | -2099.47% | 7.21% | -365.84% | -23.39% | -81.96% | -79.87% | 966.03% | 67.41% | 255.16% | -8433.33% | 100.3% | 58.86% | -26.07% | -530.08% | 73.35% | -25.24% | 87.76% | -199.42% | -29.26% | -615.8% | 127.4% | - |
| Net Income (Continuing) | 7.38M | 1.65M | -27.21M | -67.59M | -67.59M | -175.38M | -165.59M | -172.37M | -88.74M | -104.5M | -4.75M | -5.12M | 1.93M | 1.6M | 13.94M | 70.68M | 6.49M | 3.88M | -2.5M | 30K | -9.93M | -23.25M | -19.15M | -3.04M | -11.4M | -9.88M | -73.32M | -24.85M | -19.22M | 3.73M | -13.61M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85K | 100K |
| EPS (Diluted) | 0.05 | 0.01 | -0.21 | -0.56 | -0.56 | -1.55 | -1.40 | -1.72 | -0.94 | -1.14 | -0.05 | -0.06 | 0.02 | 0.03 | 0.19 | 0.99 | 0.10 | 0.06 | -0.04 | 0.00 | -0.16 | -0.43 | -0.44 | -0.09 | -0.40 | -0.33 | -2.99 | -1.38 | -1.28 | 0.25 | -2.56 |
| EPS Growth % | 201.31% | 104.76% | 62.5% | 0% | 63.87% | -10.71% | 18.6% | -82.98% | 17.54% | -2067.3% | 9.15% | -389.5% | -33.33% | -84.21% | -80.81% | 890% | 66.67% | 249.63% | - | 100.31% | 62.79% | 2.27% | -371.09% | 76.65% | -21.21% | 88.96% | -116.67% | -7.81% | -612% | 109.77% | - |
| EPS (Basic) | - | 0.01 | -0.21 | -0.56 | -0.56 | -1.55 | -1.40 | -1.72 | -0.94 | -1.14 | -0.05 | -0.06 | 0.02 | 0.03 | 0.20 | 1.04 | 0.10 | 0.06 | -0.04 | 0.00 | -0.16 | -0.43 | -0.44 | -0.09 | -0.40 | -0.33 | -2.99 | -1.38 | -1.28 | 0.31 | -1.17 |
| Diluted Shares Outstanding | 146.35M | 142.63M | 129.77M | 121.11M | 121.11M | 113.35M | 118.29M | 100M | 94.53M | 92.02M | 90.34M | 88.48M | 91.65M | 81.66M | 74.7M | 70.15M | 65.87M | 63.26M | 62.32M | 62.11M | 61.37M | 55.89M | 43.85M | 32.55M | 28.39M | 27.27M | 24.85M | 18.07M | 15.02M | 15.13M | 5.31M |
| Basic Shares Outstanding | 144.93M | 137.67M | 129.77M | 121.11M | 121.11M | 113.35M | 118.29M | 100M | 94.53M | 92.02M | 90.34M | 88.48M | 89.07M | 78.31M | 71.39M | 66.41M | 63.09M | 62.86M | 62.32M | 61.9M | 61.37M | 55.89M | 43.85M | 32.55M | 28.39M | 27.27M | 24.85M | 18.07M | 15.02M | 12.08M | 11.59M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying EGHT stock.
For fiscal year 2026, 8x8, Inc. (EGHT) reported total revenue of $735.8M. This represents a 3752.1% increase compared to $19.1M in 1997.
8x8, Inc. (EGHT) is profitable, generating $1.6M in net income for the fiscal year ending 2026 with a net profit margin of 0.2%.
8x8, Inc. (EGHT) reported an operating income of $18.9M, resulting in an operating profit margin of 2.6%. This margin reflects the operational efficiency of the business before interest and taxes.
8x8, Inc. (EGHT) generated $475.0M in gross profit for the year, representing a gross profit margin of 64.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Gross margin compression
Metrics are mathematically derived from official filings.
Revenue Returns to Low-Single-Digit Growth
Based on eight reported quarters, 8x8's year-over-year revenue growth has recovered from -3.4% in 2025Q1 to 4.9% in 2027Q1, though absolute revenue of $190.2M represents only about 7% cumulative growth across ten quarters, suggesting stabilization rather than a genuine expansion phase.
The turnaround from contraction to 3.4-4.9% growth across 2026 and into 2027Q1 appears real but modest, and it still trails peer growth rates such as Five9's 10.3% and NICE's 7.7%, implying 8x8 is protecting a base rather than taking share. Sequential revenue adds of roughly $1-5M per quarter indicate the company has exited the 2025 stall, but the durability of this trajectory hinges on whether the recent reacceleration holds above 4%.
Gross Margin Erodes Seven Points
According to 8x8's reported income statements, gross margin has compressed from 68.1% in 2025Q2 to 61.2% in 2027Q1, a decline of roughly 690 basis points as COGS climbed from $57.8M to $73.8M against only modest revenue growth.
Because gross profit dollars have stayed nearly flat in the $116-123M range while revenue edged higher, the compression reads as a cost-side phenomenon rather than a pricing collapse, which may indicate a mix shift toward lower-margin connectivity or usage-based delivery. At 61.2%, 8x8 now sits between Five9 (54.7%) and NICE (66.4%) on gross margin, leaving it mid-pack and without a clear structural cost advantage; investors should monitor whether this is a one-time step-down or an ongoing trend.
SG&A Cuts Power Thin Operating Leverage
As reported in 8x8's financial statements, SG&A fell from $91.5M in 2026Q1 to $83.6M in 2027Q1 while revenue grew 4.9%, helping lift operating income from $565K to $4.4M, yet the 2.3% operating margin still trails peers such as NICE at 21.9%.
Operating leverage so far appears to have come from overhead restraint rather than scale, since gross profit was actually lower year over year, meaning the improvement in operating income is essentially an expense story that could prove difficult to repeat. SG&A still consumes 44% of revenue against a research and development line held steady near $28M, suggesting the cost base remains heavy relative to top line and limiting incremental margin conversion even if growth persists.
SBC Fade Masks Earnings Weakness
According to 8x8's quarterly disclosures, stock-based compensation declined from $12.8M in 2025Q1 to $4.1M in 2027Q1, yet diluted EPS has stayed between -$0.04 and $0.04 for eight consecutive quarters, implying the earnings improvement owes more to expense restraint than underlying operating strength.
Net income has oscillated around zero, ranging from -$14.5M to $5.1M over the period, so reported profitability remains highly sensitive to small swings in gross margin, interest, or tax items rather than being anchored by durable operating earnings. The lumpy SBC pattern, including two quarters reported at $0 alongside EPS of $0.00, warrants further investigation as to whether the decline in dilution is structural or timing-driven, which materially affects how an analyst should treat adjusted versus reported results.
Margin Compression Undercuts Recovery Case
Per 8x8's reported results, gross margin has declined across five consecutive quarters from 67.8% in 2025Q4 to 61.2% in 2027Q1 while revenue growth sits at just 4.9%, a combination that suggests rising delivery costs may be absorbing the recovery and could cap further operating leverage.
A short seller would likely focus on the divergence between COGS, up roughly 28% from $57.8M to $73.8M over the period, and revenue, up only about 6%, which implies the growth being celebrated is being bought with disproportionately higher cost of service. With operating margin at 2.3% and net margin at -0.6% versus NICE's 21.9% and 20.8%, the case for multiple expansion rests on cost actions that may not be repeatable; if gross margin continues to slide toward the mid-50s, even flat revenue could push the company back into operating losses.