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Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

| FORM | 10-Q |

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2026
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________to _________
Commission file number: 001-38312
_________________
8x8, INC.
(Exact name of Registrant as Specified in its Charter)
_________________

Delaware |  | 77-0142404
(State or Other Jurisdiction of Incorporation or Organization) |  | (I.R.S. Employer Identification Number)

675 Creekside Way
Campbell, CA 95008

(Address of principal executive offices)

(408) 727-1885

(Registrant's telephone number, including area code)

_________________
Securities registered pursuant to Section 12(b) of the Act:

Title of each class | Trading Symbol | Name of each exchange on which registered
COMMON STOCK, PAR VALUE $0.001 PER SHARE | EGHT | Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

| Large accelerated filer | ☐ |  | Accelerated filer | ☒ |
| Non-accelerated filer | ☐ |  | Smaller reporting company | ☐ |
|  |  |  | Emerging growth company | ☐ |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares of the Registrant's Common Stock outstanding as of July 31, 2026 was 144,435,501.

Table of Contents
8X8, INC.
INDEX TO QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED JUNE 30, 2026

| Page
Forward-Looking Statements and Risk Factors | 2
PART I. FINANCIAL INFORMATION | 3
Item 1. Financial Statements (unaudited): | 3
Condensed Consolidated Balance Sheets | 3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | 4
Condensed Consolidated Statements of Stockholders' Equity | 5
Condensed Consolidated Statements of Cash Flows | 6
Notes to Unaudited Condensed Consolidated Financial Statements | 7
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations | 21
Item 3. Quantitative and Qualitative Disclosures About Market Risk | 29
Item 4. Controls and Procedures | 29
PART II. OTHER INFORMATION | 30
Item 1. Legal Proceedings | 30
Item 1A. Risk Factors | 30
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 30
Item 3. Defaults Upon Senior Securities | 30
Item 4. Mine Safety Disclosures | 30
Item 5. Other Information | 30
Item 6. Exhibits | 31
Signature | 32

1

Table of Contents
Forward-Looking Statements and Risk Factors
Statements contained in this quarterly report on Form 10-Q, or this "Quarterly Report", regarding our expectations, beliefs, estimates, intentions or strategies are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), in each case, as amended from time to time. Any statements contained herein 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," “opportunity,” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements about: our future financial performance, including revenue, margins, and operating expenses; trends in our business and the technology industry; the sufficiency of our cash, cash equivalents, investments, and operating cash flows to meet our liquidity needs; our ability to service and refinance our debt; our market position, opportunity, and growth strategy; our ability to compete successfully; our product strategy, innovation efforts and evolving artificial intelligence ("AI") capabilities; our ability to operate under evolving macroeconomic conditions, including geopolitical instability, tariffs, inflationary pressures, increased interest rates, supply chain disruptions, decreased economic output, and currency volatility; our ability to attract and retain customers; our ability to expand into new markets and internationally; our ability to manage growth and future expenses; and the impact of recent accounting pronouncements on our consolidated financial statements.
Forward-looking statements may appear throughout this Quarterly Report, including in the section entitled: “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (Part I, Item 2). We describe risks and uncertainties that could impact forward-looking statements or cause actual results and events to differ materially in the sections entitled “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and “Quantitative and Qualitative Disclosures About Market Risk” (Part II, Item 7A of our Annual Report on Form 10-K for the fiscal year ended March 31, 2026, as filed with the Securities and Exchange Commission (the "SEC") on May 22, 2026 (the "Form 10-K")). All forward-looking statements included in this Quarterly Report are based on information available to us on the date hereof, and we assume no obligation to update any such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this Quarterly Report, which attempts to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.
Our fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in this Quarterly Report refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2027 refers to the fiscal year ending March 31, 2027). Unless the context requires otherwise, references to "we," "us," "our," "8x8," and the "Company" refer to 8x8, Inc. and its consolidated subsidiaries. All dollar amounts within this Quarterly Report are in thousands of United States Dollars ("Dollars") unless otherwise noted.
2

Table of Contents
PART I. FINANCIAL INFORMATION
ITEM 1. Financial Statements
8X8, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands, except per share amounts)

| June 30, 2026 |  | March 31, 2026
ASSETS |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 90,595 |  |  | $ | 93,260 |
Restricted cash | 1,707 |  |  | 1,702 |
Accounts receivable, net | 70,428 |  |  | 57,004 |
Deferred contract acquisition costs | 23,174 |  |  | 25,193 |
Other current assets | 37,809 |  |  | 32,650 |
Total current assets | 223,713 |  |  | 209,809 |
Property and equipment, net | 44,552 |  |  | 45,821 |
Operating lease, right-of-use assets | 28,184 |  |  | 26,672 |
Intangible assets, net | 53,776 |  |  | 57,589 |
Goodwill | 276,408 |  |  | 276,372 |
Deferred contract acquisition costs, non-current | 34,235 |  |  | 34,562 |
Other assets, non-current | 11,938 |  |  | 11,996 |
Total assets | $ | 672,806 |  |  | $ | 662,821 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
Current liabilities: |  |  |
Accounts payable | $ | 38,121 |  |  | $ | 36,714 |
Accrued and other liabilities | 92,065 |  |  | 69,867 |
Operating lease liabilities | 10,693 |  |  | 10,357 |
Deferred revenue | 35,334 |  |  | 36,699 |
Term loan, current | 37,277 |  |  | 39,218 |
Total current liabilities | 213,490 |  |  | 192,855 |
Operating lease liabilities, non-current | 39,473 |  |  | 39,100 |
Deferred revenue, non-current | 247 |  |  | 181 |
Convertible senior notes, non-current | 200,091 |  |  | 199,830 |
Term loan, non-current | 69,985 |  |  | 82,431 |
Other liabilities, non-current | 1,703 |  |  | 1,815 |
Total liabilities | 524,989 |  |  | 516,212 |
Commitments and contingencies (Note 7) |  |  |
Stockholders' equity: |  |  |
Preferred stock: $0.001 par value, 5,000 shares authorized, none issued and outstanding as of June 30, 2026 and March 31, 2026 | — |  |  | — |
Common stock: $0.001 par value, 300,000 shares authorized, 143,970 shares and 141,164 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively | 144 |  |  | 141 |
Additional paid-in capital | 1,041,051 |  |  | 1,038,745 |
Accumulated other comprehensive loss | (6,105) |  |  | (6,204) |
Accumulated deficit | (887,273) |  |  | (886,073) |
Total stockholders' equity | 147,817 |  |  | 146,609 |
Total liabilities and stockholders' equity | $ | 672,806 |  |  | $ | 662,821 |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
3

Table of Contents
8X8, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited, in thousands, except per share amounts)

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Service revenue | $ | 185,346 |  |  | $ | 176,308 |  |  |  |  |
Other revenue | 4,824 |  |  | 5,053 |  |  |  |  |
Total revenue | 190,170 |  |  | 181,361 |  |  |  |  |
Cost of service revenue | 67,635 |  |  | 53,822 |  |  |  |  |
Cost of other revenue | 6,164 |  |  | 7,099 |  |  |  |  |
Total cost of revenue | 73,799 |  |  | 60,921 |  |  |  |  |
Gross profit | 116,371 |  |  | 120,440 |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
Research and development | 28,406 |  |  | 28,364 |  |  |  |  |
Sales and marketing | 58,750 |  |  | 68,184 |  |  |  |  |
General and administrative | 24,836 |  |  | 23,327 |  |  |  |  |
Total operating expenses | 111,992 |  |  | 119,875 |  |  |  |  |
Income from operations | 4,379 |  |  | 565 |  |  |  |  |
Interest expense | (4,179) |  |  | (3,968) |  |  |  |  |
Other income (expense), net | (408) |  |  | 364 |  |  |  |  |
Loss before provision for income taxes | (208) |  |  | (3,039) |  |  |  |  |
Provision for income taxes | 992 |  |  | 1,276 |  |  |  |  |
Net loss | $ | (1,200) |  |  | $ | (4,315) |  |  |  |  |
Net loss per share: |  |  |  |  |  |  |
Basic and diluted | $ | (0.01) |  |  | $ | (0.03) |  |  |  |  |
Weighted average number of shares: |  |  |  |  |  |  |
Basic and diluted | 141,973 |  |  | 134,809 |  |  |  |  |
Comprehensive income (loss) |  |  |  |  |  |  |
Net loss | $ | (1,200) |  |  | $ | (4,315) |  |  |  |  |
Foreign currency translation adjustment | 99 |  |  | 6,258 |  |  |  |  |
Comprehensive income (loss) | $ | (1,101) |  |  | $ | 1,943 |  |  |  |  |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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8X8, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited, in thousands)

| Common Stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Loss |  | Accumulated Deficit |  | Total
| Shares |  | Amount |
Balance at March 31, 2026 | 141,164 |  |  | $ | 141 |  |  | $ | 1,038,745 |  |  | $ | (6,204) |  |  | $ | (886,073) |  |  | $ | 146,609 |
Issuance of common stock under stock plans | 3,654 |  |  | 4 |  |  | (4) |  |  | — |  |  | — |  |  | — |
Common shares withheld for settlement of taxes in connection with equity-based compensation | (848) |  |  | (1) |  |  | (1,683) |  |  | — |  |  | — |  |  | (1,684) |
Stock-based compensation expense | — |  |  | — |  |  | 3,993 |  |  | — |  |  | — |  |  | 3,993 |
Foreign currency translation adjustment | — |  |  | — |  |  | — |  |  | 99 |  |  | — |  |  | 99 |
Net loss | — |  |  | — |  |  | — |  |  | — |  |  | (1,200) |  |  | (1,200) |
Balance at June 30, 2026 | 143,970 |  |  | $ | 144 |  |  | $ | 1,041,051 |  |  | $ | (6,105) |  |  | $ | (887,273) |  |  | $ | 147,817 |

| Common Stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Loss |  | Accumulated Deficit |  | Total
| Shares |  | Amount |
Balance at March 31, 2025 | 134,355 |  |  | $ | 134 |  |  | $ | 1,018,902 |  |  | $ | (9,111) |  |  | $ | (887,721) |  |  | $ | 122,204 |
Issuance of common stock under stock plans | 2,692 |  |  | 3 |  |  | (3) |  |  | — |  |  | — |  |  | — |
Common shares withheld for settlement of taxes in connection with equity-based compensation | (300) |  |  | — |  |  | (489) |  |  | — |  |  | — |  |  | (489) |
Repurchase of common stock | (1,000) |  |  | (1) |  |  | (1,847) |  |  | — |  |  | — |  |  | (1,848) |
Stock-based compensation expense | — |  |  | — |  |  | 6,380 |  |  | — |  |  | — |  |  | 6,380 |
Foreign currency translation adjustment | — |  |  | — |  |  | — |  |  | 6,258 |  |  | — |  |  | 6,258 |
Net loss | — |  |  | — |  |  | — |  |  | — |  |  | (4,315) |  |  | (4,315) |
Balance at June 30, 2025 | 135,747 |  |  | $ | 136 |  |  | $ | 1,022,943 |  |  | $ | (2,853) |  |  | $ | (892,036) |  |  | $ | 128,190 |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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8X8, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)

| Three Months Ended June 30,
| 2026 |  | 2025
Cash flows from operating activities: |  |  |
Net loss | $ | (1,200) |  |  | $ | (4,315) |
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |
Depreciation | 1,410 |  |  | 1,690 |
Amortization of intangible assets | 3,835 |  |  | 3,501 |
Amortization of capitalized internal-use software costs | 2,856 |  |  | 2,673 |
Amortization of debt discount and issuance costs | 330 |  |  | 336 |
Amortization of deferred contract acquisition costs | 7,051 |  |  | 8,956 |
Allowance for credit losses | 607 |  |  | 290 |
Operating lease expense, net of accretion | 2,595 |  |  | 2,854 |
Stock-based compensation expense | 4,055 |  |  | 6,352 |
Loss on debt extinguishment | 44 |  |  | 81 |
Gain on remeasurement of warrants | (71) |  |  | (209) |
Other | 188 |  |  | (368) |
Changes in assets and liabilities: |  |  |
Accounts receivable, net | (14,407) |  |  | (9,503) |
Deferred contract acquisition costs | (4,611) |  |  | (4,471) |
Other current and non-current assets | (9,273) |  |  | (2,997) |
Accounts payable and accrued liabilities | 24,979 |  |  | 3,347 |
Deferred revenue | (1,354) |  |  | 3,656 |
Net cash provided by operating activities | 17,034 |  |  | 11,873 |
Cash flows from investing activities: |  |  |
Purchases of property and equipment | (694) |  |  | (377) |
Capitalized internal-use software costs | (2,225) |  |  | (4,039) |
Payments for other investing activities | (229) |  |  | — |
Net cash used in investing activities | (3,148) |  |  | (4,416) |
Cash flows from financing activities: |  |  |
Repurchase of common stock | — |  |  | (1,848) |
Repayment of principal on term loan | (14,500) |  |  | (15,000) |
Other financing activities | (1,684) |  |  | (489) |
Net cash used in financing activities | (16,184) |  |  | (17,337) |
Effect of exchange rate changes on cash | (362) |  |  | 2,788 |
Net decrease in cash and cash equivalents | (2,660) |  |  | (7,092) |
Cash, cash equivalents and restricted cash, beginning of year | 94,962 |  |  | 89,324 |
Cash, cash equivalents and restricted cash, end of period | $ | 92,302 |  |  | $ | 82,232 |
Supplemental disclosures of cash flow information: |  |  |
Interest paid | $ | 1,806 |  |  | $ | 2,567 |
Income taxes paid | $ | 479 |  |  | $ | 574 |
Payables and accruals for property and equipment | $ | 80 |  |  | $ | 21 |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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8X8, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — UNAUDITED
1. The Company and Significant Accounting Policies
The Company
8x8, Inc. ("8x8" or the "Company") was incorporated in California in February 1987 and was reincorporated in Delaware in December 1996. The Company trades under the symbol "EGHT" on the Nasdaq Global Select Market.
The Company is a leading Software-as-a-Service ("SaaS") provider of contact center, voice, video, chat, and enterprise-class API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide by connecting individuals and teams, so they can collaborate faster and work smarter from anywhere. 8x8 provides real-time business analytics and intelligence, giving its customers unique insights across all interactions and channels on its platform, so they can support a distributed and hybrid working model while delighting their end-customers and accelerating their business. A majority of all revenue is generated from communication services subscriptions and platform usage. The Company also generates revenue from sales of hardware and professional services, which are complementary to the delivery of its integrated technology platform.
Basis of Presentation and Consolidation
The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, certain information and disclosures normally included in the Company's annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements as of and for the fiscal year ended March 31, 2026 and notes thereto included in the Form 10-K.
The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. The Company conducts its operations through one operating and reportable segment.
In the opinion of the Company's management, these condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the Company's financial position, results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending March 31, 2027.
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to revenue recognition, current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and value and useful life of long-lived assets (including intangible assets and right-of-use assets), capitalized internal-use software costs, benefit period for deferred contract acquisition costs, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions.
Significant Accounting Policies
There have been no material changes from the significant accounting policies previously disclosed in Part II, Item 8 of the Form 10-K, except for the following:
Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing net income (loss) available to stockholders (numerator) by the weighted average number of vested, unrestricted shares of common stock outstanding during the period (denominator). Diluted net income per share is computed on the basis of the weighted average number of shares of common stock, plus the effect of dilutive potential shares of common stock outstanding during the period. Dilutive potential shares of common stock from stock options, shares under the Amended and Restated 1996 Employee Stock Purchase Plan (the "ESPP"), Restricted Stock Units ("RSUs"), Performance Stock Units ("PSUs") and warrants are computed using the treasury stock method. Potential shares of common stock attributable to the Company's convertible senior notes due 2028 (the "2028 Notes") as discussed below in Note 8, Convertible Senior Notes and Term Loan, are evaluated using the if-converted method, which requires testing both cash and share settlement assumptions and applying the more dilutive result. For periods where a net loss was recognized, basic and diluted net loss per share are the same, as the effect of potential shares of common stock would be anti-dilutive.
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Change in Reporting Presentation
The Company has revised its anti-dilutive shares disclosure for the three months ended June 30, 2025 to include approximately 28.2 million potential shares of common stock attributable to its 2028 Notes. These shares are anti-dilutive in all periods presented under the if-converted method. This revision had no impact on basic or diluted net loss per share and the condensed consolidated financial statements for any period presented. See Note 11, Net Loss Per Share, for further details.
Recently Adopted Accounting Pronouncements
In November 2024, the FASB issued ASU 2024-04, Debt - Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which clarifies whether the induced conversion guidance can be applied to the settlement of a convertible debt instrument that does not require the issuance of equity securities upon conversion. This update is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. The Company has adopted ASU 2024-04 on a prospective basis, and this ASU does not have a material impact on the condensed consolidated financial statements.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, providing a practical expedient to calculating current expected credit loss by assuming that the current conditions as of the balance sheet date will not change for the remaining life of the asset. This expedient can only be applied to current accounts receivable and current contract assets. This update is effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods, and this update is applied prospectively. The Company has elected the expedient and adopted ASU 2025-05 on a prospective basis during the three months ended June 30, 2026. This ASU does not have a material impact on the condensed consolidated financial statements.
Recently Issued Not Yet Adopted Accounting Pronouncements
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Topic 220): Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures, and issued subsequent amendments to the implementation guidance (including ASU 2025-01), which requires companies to disclose additional information about specific expense categories in the notes to financial statements. This guidance will be effective for the Company's annual disclosures beginning for the fiscal year ending March 31, 2028 and for interim period disclosures beginning in the fiscal year ending March 31, 2029. The Company is currently evaluating the impact this guidance will have on the presentation of its condensed consolidated financial statements and accompanying notes.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which updates the accounting model by replacing the project stage approach with a probable-to-complete threshold, relocates website development guidance into Subtopic 350-40, and requires enhanced disclosures for capitalized software costs. This guidance will be effective for the Company's interim and annual disclosures beginning for the fiscal year ending March 31, 2029. The Company is currently evaluating the impact this guidance will have on its condensed consolidated financial statements and accompanying notes.
There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance during the three months ended June 30, 2026 that are of significance or potential significance to us.
2. Segment and Revenue Information
Segment Information
The Company operates in and reports its results in a single operating and reportable segment offering SaaS solutions through the Company's Platform for Customer Experience ("CX"), which delivers unified communications-as-a-service ("UCaaS"), contact center-as-a-service ("CCaaS"), and communications platform-as-a-service ("CPaaS"). The Company derives revenue in the United States, United Kingdom and other international geographical locations from service revenue, other revenue and manages the business activities on a consolidated basis.
The Company's Chief Executive Officer ("CEO"), who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company, has been identified as the chief operating decision maker ("CODM"). The CEO manages and reviews financial information presented on a consolidated basis and uses consolidated net income (loss) for purposes of making operating decisions, evaluating operating expenses, assessing financial performance and the allocation of resources. The measure of segment assets is reported on the consolidated balance sheets as total assets. Our CODM does not assess segment performance or make decisions using asset or liability information. The consolidated financial information provided to the CODM, including significant expenses, is presented in a manner consistent with the information already disclosed in the accompanying condensed consolidated financial statements and the notes thereto.
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Disaggregation of Revenue
The Company believes that the nature, amount, timing, and uncertainty of its revenue and cash flows are most appropriately depicted by (i) geographic region and (ii) type of revenue or service provided. Revenue is disaggregated between subscription and platform usage, as these categories reflect key differences in economic characteristics, including recurring, over-time subscription revenue and variable, usage-based revenue driven by customer consumption.
The following table sets forth the revenue geographic information based on the billing address of customers for each period (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
United States | $ | 105,801 |  |  | $ | 113,091 |  |  |  |  |
United Kingdom | 33,320 |  |  | 30,731 |  |  |  |  |
Other International1 | 51,049 |  |  | 37,539 |  |  |  |  |
Total revenue | $ | 190,170 |  |  | $ | 181,361 |  |  |  |  |

Service revenue consists of communication services subscriptions and platform usage revenue and related fees from our UCaaS, CCaaS and CPaaS offerings. Subscription, platform usage, and other revenue were as follows (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Service revenue |  |  |  |  |  |  |
Subscription revenue | $ | 137,429 |  |  | $ | 146,921 |  |  |  |  |
Platform usage revenue | 47,917 |  |  | 29,387 |  |  |  |  |
Total service revenue | 185,346 |  |  | 176,308 |  |  |  |  |
Other revenue | 4,824 |  |  | 5,053 |  |  |  |  |
Total revenue | $ | 190,170 |  |  | $ | 181,361 |  |  |  |  |

Contract Balances
The following table provides amounts of contract assets and deferred revenue from contracts with customers (in thousands):

| June 30, 2026 |  | March 31, 2026
Contract assets, current (component of Other current assets) | $ | 7,105 |  |  | $ | 6,113 |
Contract assets, non-current (component of Other non-current assets) | 5,743 |  |  | 6,356 |
Deferred revenue, current | 35,334 |  |  | 36,699 |
Deferred revenue, non-current | 247 |  |  | 181 |

Contract assets are recorded for contract consideration not yet invoiced but for which the performance obligations are completed. Contract assets, net of allowances for credit losses, are included in other current assets or other assets in the Company's condensed consolidated balance sheets, depending on if their reduction will be recognized during the succeeding twelve-month period or beyond. The allowance applied to our contract assets as of June 30, 2026 and March 31, 2026 and the activity in this account, including the current-period provision for expected credit losses for the three months ended June 30, 2026, was not material. As of March 31, 2025, contract assets, current and non-current were $7.0 million and $7.3 million, respectively. Accounts receivable, net, which also represents a contract balance arising from contracts with customers, including trade accounts receivable and unbilled trade accounts receivable, is disclosed in Note 4, Financial Statement Components.
The change in contract assets was primarily driven by the recognition of revenue for the fulfillment of performance obligations in advance of billing. The change in deferred revenue was primarily driven by the recognition of subscription and professional services revenue on previously invoiced non-monthly contracts, partially offset by new non-monthly invoices billed during the period. As of March 31, 2025, deferred revenue, current and non-current, was $37.8 million and $0.7 million, respectively. During the three months ended June 30, 2026 and June 30, 2025, the Company recognized revenue of approximately $18.2 million and $16.5 million that was included in deferred revenue at the beginning of the fiscal year, respectively.
1 No individual country within "Other International" represented 10% or more of the Company’s total revenue for the three months ended June 30, 2026 or 2025.
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Remaining Performance Obligations
The Company's subscription terms typically range from one year to five years. Contract revenue from the remaining performance obligations that had not yet been recognized as of June 30, 2026 was approximately $640.0 million. This amount excludes contracts with an original expected length of less than one year. The Company expects to recognize revenue on approximately 88% of the remaining performance obligations over the next 24 months, including approximately 64% of the remaining performance obligations estimated to be recognized within 12 months, and approximately 12% estimated to be recognized over the remainder of the subscription period.
Deferred Contract Acquisition Costs
Deferred sales commissions are considered incremental and recoverable costs of acquiring customer contracts. Amortization of deferred contract acquisition costs for the three months ended June 30, 2026 and 2025 was approximately $7.1 million and $9.0 million, respectively. There were no material write-offs during the three months ended June 30, 2026 and 2025.
The following table provides amounts of deferred contract acquisition costs from contracts with customers (in thousands):

| June 30, 2026 |  | March 31, 2026
Deferred contract acquisition costs | $ | 23,174 |  |  | $ | 25,193 |
Deferred contract acquisition costs, non-current | 34,235 |  |  | 34,562 |

3. Fair Value Measurements
Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):

|  | As of June 30, 2026
|  | Fair Value |  | Cash and Cash Equivalents |  | Restricted Cash (Current and Non-Current)
Cash |  | $ | 72,402 |  |  | $ | 70,695 |  |  | $ | 1,707 |
Level 1: |  |  |  |  |  |
Money market funds |  | 19,900 |  |  | 19,900 |  |  | — |
Total assets |  | $ | 92,302 |  |  | $ | 90,595 |  |  | $ | 1,707 |

|  | As of March 31, 2026
|  | Fair Value |  | Cash and Cash Equivalents |  | Restricted Cash (Current and Non-Current)
Cash |  | $ | 74,645 |  |  | $ | 72,943 |  |  | $ | 1,702 |
Level 1: |  |  |  |  |  |
Money market funds |  | 20,317 |  |  | 20,317 |  |  | — |
Total assets |  | $ | 94,962 |  |  | $ | 93,260 |  |  | $ | 1,702 |

As of June 30, 2025, cash, cash equivalents and restricted cash of $82.2 million included $81.3 million and $0.9 million of cash and cash equivalents and restricted cash, respectively.
To support its current operations, the Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The restricted cash component is related to accrued holdbacks for business combinations.
The Company uses the Black-Scholes option-pricing valuation model to value its detachable warrants from inception and at each reporting period. During the three months ended June 30, 2026, the Company used historical volatility to determine the fair value of the warrants liability due to the low trading volume and moneyness assessment as of June 30, 2026. Changes in the fair values of the detachable warrants liability are recorded as a gain (loss) on warrants remeasurement within other income (expense), net in the condensed consolidated statements of operations and comprehensive income (loss).
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The following table presents additional information about valuation techniques and inputs used for the detachable warrants (see Note 8, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of June 30, 2026 and March 31, 2026 (dollars in thousands):

| June 30, 2026 |  | March 31, 2026
Estimated fair value of detachable warrants | $ | 161 |  | $ | 233
Unobservable inputs: |  |  |
Stock volatility | 79.4 | % |  | 78.8 | %
Risk-free rate | 4.0 | % |  | 3.7 | %
Expected term | 1.1 years |  | 1.3 years

As of June 30, 2026 and March 31, 2026, the estimated fair value of the Company’s convertible senior notes due in 2028 was $186.5 million and $187.7 million, respectively (see Note 8, Convertible Senior Notes and Term Loan). The fair value of the convertible senior notes was determined based on the closing price of each of the securities on the last trading day of the reporting period, and each is Level 2 in the fair value hierarchy due to limited trading activity of the debt instruments. As of June 30, 2026 and March 31, 2026, the carrying value of the Company’s 2024 Term Loan approximates its estimated fair value.
4. Financial Statement Components
Accounts receivable, net consisted of the following (in thousands):

| June 30, 2026 |  | March 31, 2026
Trade accounts receivable | $ | 64,200 |  |  | $ | 51,191 |
Unbilled trade accounts receivable | 10,744 |  |  | 10,663 |
Less: allowance for credit losses | (1,449) |  |  | (1,253) |
Less: allowance for sales reserves | (3,067) |  |  | (3,597) |
Total accounts receivable, net | $ | 70,428 |  |  | $ | 57,004 |

Allowances for credit losses and sales reserves consisted of the following (in thousands):

| Three Months Ended June 30, 2026 |  | Year Ended March 31, 2026
| Credit Losses |  | Sales Reserves |  | Credit Losses |  | Sales Reserves
Beginning balance | $ | (1,253) |  |  | $ | (3,597) |  |  | $ | (1,898) |  |  | $ | (4,233) |
(Reserve) provision | (553) |  |  | (1,670) |  |  | (548) |  |  | (8,110) |
Write-offs (recoveries) | 357 |  |  | 2,200 |  |  | 1,193 |  |  | 8,746 |
Ending balance | $ | (1,449) |  |  | $ | (3,067) |  |  | $ | (1,253) |  |  | $ | (3,597) |

The following tables set forth the property and equipment, net, geographic information for each period (in thousands):

| June 30, 2026 |  | March 31, 2026
United States | $ | 40,995 |  |  | $ | 42,441 |
International | 3,557 |  |  | 3,380 |
Total property and equipment, net | $ | 44,552 |  |  | $ | 45,821 |

Other current assets consisted of the following (in thousands):

| June 30, 2026 |  | March 31, 2026
Prepaid expense | $ | 28,316 |  |  | $ | 23,556 |
Contract assets | 7,105 |  |  | 6,113 |
Other current assets | 2,388 |  |  | 2,981 |
Total other current assets | $ | 37,809 |  |  | $ | 32,650 |

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Accrued and other liabilities consisted of the following (in thousands):

| June 30, 2026 |  | March 31, 2026
Accrued compensation | $ | 23,976 |  |  | $ | 21,649 |
Accrued taxes | 25,439 |  |  | 23,238 |
Other accrued liabilities | 42,650 |  |  | 24,980 |
Total accrued and other liabilities | $ | 92,065 |  |  | $ | 69,867 |

Other income (expense), net consisted of the following (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Loss on debt extinguishment | $ | (44) |  |  | $ | (81) |  |  |  |  |
Gain on warrants remeasurement | 71 |  |  | 209 |  |  |  |  |
Interest income | 467 |  |  | 476 |  |  |  |  |
Other expense | (902) |  |  | (240) |  |  |  |  |
Other income (expense), net | $ | (408) |  |  | $ | 364 |  |  |  |  |

5. Intangible Assets and Goodwill
The carrying value of intangible assets consisted of the following (in thousands):

| June 30, 2026 |  | March 31, 2026
| Weighted Average Remaining Useful Life (in years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | 4.6 |  | $ | 106,343 |  |  | $ | (55,677) |  |  | $ | 50,666 |  |  | $ | 106,342 |  |  | $ | (52,673) |  |  | $ | 53,669 |
Developed technology | 2.6 |  | 50,079 |  |  | (46,969) |  |  | 3,110 |  |  | 50,063 |  |  | (46,177) |  |  | 3,886 |
Trade names and domains | 0.0 |  | 671 |  |  | (671) |  |  | — |  |  | 671 |  |  | (637) |  |  | 34 |
Total acquired identifiable intangible assets |  |  | $ | 157,093 |  |  | $ | (103,317) |  |  | $ | 53,776 |  |  | $ | 157,076 |  |  | $ | (99,487) |  |  | $ | 57,589 |

At June 30, 2026, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following (in thousands):

Remainder of fiscal 2027 | $ | 9,251 |
2028 | 12,328 |
2029 | 12,149 |
2030 | 11,135 |
2031 | 8,913 |
Total | $ | 53,776 |

The following table provides a summary of the changes in the carrying amounts of goodwill (in thousands):

Balance as of March 31, 2026 | $ | 276,372 |
Foreign currency translation | 36 |
Balance as of June 30, 2026 | $ | 276,408 |

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6. Leases
The components of lease expense were as follows (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Operating lease expense | $ | 2,595 |  |  | $ | 2,854 |  |  |  |  |
Variable lease expense | $ | 1,122 |  |  | $ | 950 |  |  |  |  |

The supplemental cash flow information related to leases was as follows (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Cash outflows from operating leases | $ | 3,194 |  |  | $ | 3,502 |  |  |  |  |

Short-term lease expense was immaterial during the three months ended June 30, 2026 and 2025.
The following table presents supplemental lease information:

| June 30, 2026 |  | March 31, 2026
Weighted average remaining lease term | 4.4 years |  | 4.5 years
Weighted average discount rate | 4.7% |  | 4.6%

The following table presents maturity of lease liabilities under the Company's noncancelable operating leases as of June 30, 2026 (in thousands):

Remainder of fiscal 2027 | $ | 9,565 |
2028 | 12,436 |
2029 | 12,412 |
2030 | 12,000 |
2031 | 8,883 |
Total lease payments | 55,296 |
Less: imputed interest | (5,130) |
Present value of lease liabilities | $ | 50,166 |
Operating lease liabilities | 10,693 |
Operating lease liabilities, non-current | $ | 39,473 |

The Company continues to evaluate its leases for potential impairments, noting no impairments during the three months ended June 30, 2026.
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7. Commitments and Contingencies
Indemnifications
In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors.
It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability might not have a contractual limit.
Operating Leases
The Company's lease obligations consist of the Company's principal facility and various leased facilities under operating lease agreements. See Note 6, Leases, for more information on the Company's leases and the future minimum lease payments.
Purchase Obligations
The Company's purchase obligations include contracts with third-party customer support vendors and third-party network service providers. These contracts include minimum monthly commitments and the requirements to maintain the service level for several months.
During the three months ended June 30, 2026, we entered into a $74.0 million noncancelable five-year hosting service contract with a cloud service provider. Under this agreement, $8.1 million remains due during fiscal 2027, $13.9 million will be due during fiscal 2028, $15.8 million will be due during fiscal 2029 and $36.2 million will be due for the remaining contractual term.
During the fiscal year ended March 31, 2026, the Company increased its noncancelable three-year hosting service contract commitment from $24.1 million to $54.0 million. Under this agreement, $6.7 million remains due in fiscal 2027 and $10.0 million will be due in fiscal 2028.
Legal Proceedings
The Company may be involved in various claims, lawsuits, investigations, and other legal proceedings, all in various phases, including intellectual property, commercial, regulatory compliance, securities, and employment matters that arise in the normal course of business. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company regularly evaluates current information to determine whether any accruals should be adjusted and whether new accruals are required. Actual claims could settle or be adjudicated against the Company in the future for materially different amounts than the Company has accrued due to the inherently unpredictable nature of litigation. Legal costs are expensed as incurred.
The Company believes it has recorded adequate provisions for any such lawsuits and claims and proceedings as of June 30, 2026. The Company believes that damage amounts claimed in these matters are not meaningful indicators of potential liability. Some of the matters pending against the Company involve potential compensatory, punitive, or treble damage claims or sanctions that, if granted, could require the Company to pay damages or make other expenditures in amounts that could have a material adverse effect on its condensed consolidated financial statements. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted, and the Company believes it has valid defenses with respect to the legal matters pending against it. Nevertheless, the condensed consolidated financial statements could be materially adversely affected in a particular period by the resolution of one or more of these contingencies.
Federal, State and Local Taxes and Surcharges
From time to time, the Company has received inquiries from a number of federal, state and local taxing agencies with respect to the remittance of sales, use, telecommunications, excise, and income taxes. Several jurisdictions currently are conducting tax audits of the Company's records, all in various phases. The Company collects and/or accrues amounts for all taxes and surcharges that it believes are required. The amounts that have been remitted have historically been within the accruals established by the Company. The Company conducts periodic reviews of the taxability of its services with respect to sales, use, telecommunications or other similar indirect taxes and adjusts its accrual when facts relating to specific exposures warrant such adjustment. A similar review was performed on the taxability of services provided by Fuze, Inc., and it was determined that certain services may be subject to sales, use, telecommunications or other similar indirect taxes in certain jurisdictions. Accordingly, the Company recorded contingent indirect tax liabilities. Based on such assessments, as of June 30, 2026 and March 31, 2026, the Company had accrued contingent indirect tax liabilities of $9.6 million and $9.4 million, respectively.
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8. Convertible Senior Notes and Term Loan
Components of the convertible senior notes and term loan were as follows as of June 30, 2026 and March 31, 2026, respectively (in thousands):

| June 30, 2026 |  | March 31, 2026
| 2024 Term Loan |  | 2028 Notes |  | Total |  | 2024 Term Loan |  | 2028 Notes |  | Total
Principal | $ | 107,500 |  |  | $ | 201,914 |  |  | $ | 309,414 |  |  | $ | 122,000 |  |  | $ | 201,914 |  |  | $ | 323,914 |
Unamortized debt discount and issuance costs | (238) |  |  | (1,823) |  |  | (2,061) |  |  | (351) |  |  | (2,084) |  |  | (2,435) |
Net carrying amount | $ | 107,262 |  |  | $ | 200,091 |  |  | $ | 307,353 |  |  | $ | 121,649 |  |  | $ | 199,830 |  |  | $ | 321,479 |
Current portion of long-term debt | 37,277 |  |  | — |  |  | 37,277 |  |  | 39,218 |  |  | — |  |  | 39,218 |
Non-current portion of long-term debt | $ | 69,985 |  |  | $ | 200,091 |  |  | $ | 270,076 |  |  | $ | 82,431 |  |  | $ | 199,830 |  |  | $ | 282,261 |

Components of interest expense were as follows for the three months ended June 30, 2026 and 2025, respectively (in thousands):

| Three Months Ended June 30, 2026 |  | Three Months Ended June 30, 2025
| 2024 Term Loan |  | 2028 Notes |  | Total |  | 2024 Term Loan |  | 2028 Notes |  | Total
Contractual interest expense | $ | 1,830 |  |  | $ | 2,019 |  |  | $ | 3,849 |  |  | $ | 2,539 |  |  | $ | 2,019 |  |  | $ | 4,558 |
Amortization of debt discount and issuance costs1 | 69 |  |  | 261 |  |  | 330 |  |  | 87 |  |  | 249 |  |  | 336 |
Total debt interest2 | $ | 1,899 |  |  | $ | 2,280 |  |  | $ | 4,179 |  |  | $ | 2,626 |  |  | $ | 2,268 |  |  | $ | 4,894 |

The 2024 Term Loan (as defined below) is the Company’s senior secured obligation and ranks senior in right of payment to any of the Company’s indebtedness. The 2028 Notes are the Company’s senior unsecured obligation but rank junior in right of payment to any of the Company’s secured indebtedness to the extent of such security.
2024 Delayed Draw Term Loan
On July 11, 2024, the Company entered into a new term loan credit agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders thereto (the “2024 Credit Agreement”). The 2024 Credit Agreement establishes a delayed draw term loan facility in an aggregate principal amount of up to $200.0 million maturing on August 15, 2027.
On August 5, 2024, the Company drew upon the entire facility of $200.0 million under the delayed draw term loan facility (the "2024 Term Loan") and used the proceeds of the 2024 Term Loan and cash on hand of approximately $29.0 million to repay in full the $225.0 million of outstanding principal amount and accrued interest of the 2022 Term Loan (defined below) and the fees incurred in connection with the repayment (the "Repayment"). For additional information, refer to the "2022 Term Loan and Warrants" section below.
The 2024 Term Loan bears interest at an annual rate equal to the Term Standard Overnight Financing Rate (the "Term SOFR"), plus a margin of either 2.50%, 2.75% or 3.00%, based on the consolidated total net leverage ratio of the Company and its subsidiaries. The initial margin was 3.00% for the fiscal quarter ending September 30, 2024 and remained 3.00% as of June 30, 2026. The Company has the option to pay interest monthly, quarterly, or semi-annually. During the three months ended June 30, 2026, the Company elected monthly interest payment terms resulting in contractual interest expense of $1.8 million. As of June 30, 2026, the debt issuance costs were amortized to interest expense over the term of the 2024 Term Loan at an effective interest rate of 8.61%.
Under the terms of the 2024 Credit Agreement, the Company has the right to prepay the 2024 Term Loan at any time without any premium or penalty. On April 10, 2026, the Company prepaid $14.5 million of quarterly principal payments due under the 2024 Term Loan. The Company completed three principal repayments of the 2024 Term Loan during fiscal 2026 for a total of $30.0 million in aggregate principal amount.
1 Amount represents the non-cash amortization of debt discount and issuance costs associated with the Company's debt instruments. These costs are amortized to interest expense over the respective terms of the debt using the effective interest method.
2 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 June 30, 2025.
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As of June 30, 2026, the scheduled minimum principal repayments are $25.0 million in fiscal 2027 (comprised of $12.5 million on each of December 31, 2026 and March 31, 2027) and $82.5 million fiscal 2028 (comprised of $12.5 million on June 30, 2027 and $70.0 million due upon maturity on August 15, 2027). As of June 30, 2026, the Company has paid $22.5 million, $37.5 million, $22.5 million, and $10.0 million of the originally scheduled principal repayments due in fiscal 2025, 2026, 2027, and 2028 respectively, and the remaining principal amount of the 2024 Term Loan after the payments is $107.5 million.
On July 29, 2025, the Company executed the First Amendment (the "Amendment") to the 2024 Credit Agreement. The Amendment is designed to provide additional financial flexibility and support future strategic initiatives. The Amendment reflects the Company's continued commitment to financial discipline as it executes long-term growth priorities and investor return initiatives. Under the terms of the 2024 Credit Agreement, the Company may prepay the 2024 Term Loan at any time without incurring a premium or penalty. The Amendment also modified, among other things, the requirements to meet certain financial ratio tests in connection with permitted acquisitions and an adjustment to maintain the existing consolidated total net leverage ratio (a measure of total debt relative to Adjusted Cash EBITDA) at its current level for the duration of the 2024 Credit Agreement. In connection with the Amendment, the Company prepaid $10.0 million of the remaining long-term principal payment due in August 2027 under the 2024 Term Loan. This prepayment did not adjust the scheduled quarterly principal payments.
These short-term principal debt repayments are accounted for as partial debt extinguishment transactions. The carrying value of the 2024 Term Loan, including the unamortized debt discount and issuance costs, was derecognized. The difference between the cash consideration paid to partially extinguish the 2024 Term Loan and the carrying value of the 2024 Term Loan was recognized as a loss on debt extinguishment included in the loss on debt extinguishment line item recorded in other expense in the condensed consolidated statement of operations. See Note 4, Financial Statement Components, for further details.
The obligations under the 2024 Credit Agreement are guaranteed by the Company’s wholly-owned subsidiaries, subject to certain customary exceptions, and secured by a perfected security interest in substantially all of the Company’s tangible and intangible assets, as well as substantially all of the tangible and intangible assets of the guarantors.
Mandatory prepayments of the 2024 Term Loan are required to be made upon the occurrence of certain events, including, without limitation, (i) sales of certain assets, (ii) receipt of certain casualty and condemnation awards proceeds, and (iii) the incurrence of non-permitted indebtedness, subject to certain thresholds and reinvestment rights. Voluntary prepayments are permitted at any time without premium or penalty, subject to certain customary break funding payments.
The 2024 Credit Agreement contains a consolidated interest coverage ratio financial covenant, a maximum consolidated total net leverage ratio financial covenant and a maximum consolidated secured leverage ratio financial covenant, and contains affirmative and negative covenants customary for transactions of this type, including limitations with respect to share repurchases, indebtedness, liens, investments, dividends, disposition of assets, change in business, and transactions with affiliates. As of June 30, 2026, the Company was in compliance with all covenants set forth in the 2024 Credit Agreement.
2022 Term Loan and Warrants
The Company entered into a senior secured term loan facility (the “2022 Term Loan”) under a term loan credit agreement (the “2022 Credit Agreement”) on August 3, 2022 with Wilmington Savings Fund Society, FSB, as administrative agent, and certain affiliates of Francisco Partners ("FP"). On August 5, 2024, the Company repaid the full outstanding principal amount and accrued interest of the 2022 Term Loan using the proceeds of the 2024 Term Loan and cash on hand.
In connection with the 2022 Credit Agreement, the Company issued detachable warrants (the “Warrants”) to affiliates of FP to purchase an aggregate of 3.1 million shares of the Company’s common stock with a five-year term and an exercise price of $7.15 per share (subject to adjustment) that represents a 27.5% premium over the closing price per share of the Company’s common stock on August 3, 2022. The Warrants are classified as liabilities as the Warrants contain certain terms that could result in cash settlement as a result of events outside of the Company’s control. Accordingly, the Company recognizes the Warrants as liabilities at fair value initially and adjusts the Warrants to fair value at each reporting period.
The Warrants remain outstanding, with no change in terms in connection with the repayment of the 2022 Term Loan or issuance of the 2024 Term Loan. As of June 30, 2026 and March 31, 2026, the fair value of the Warrants was $0.2 million and $0.2 million, respectively, and was recorded within other liabilities, non-current on the condensed consolidated balance sheets. The subsequent changes in fair value were recorded through other income (expense), net on the Company’s condensed consolidated statement of operations and comprehensive income (loss). See Note 3, Fair Value Measurements, for further details.
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2028 Notes
As of June 30, 2026 and March 31, 2026, the Company had $201.9 million aggregate principal amount of 4.00% 2028 Notes, with debt issuance costs of approximately $5.6 million, of which 50% was paid in the form of shares of the Company's common stock. The 2028 Notes are senior obligations of the Company that accrue interest, payable semi-annually in arrears on February 1 and August 1 of each year. The 2028 Notes will mature on February 1, 2028, unless earlier converted, redeemed or repurchased. The initial conversion rate is 139.8064 shares of the Company’s common stock per $1,000 principal amount of the 2028 Notes (equivalent to an initial conversion price of approximately $7.15 per share), subject to customary adjustments. Upon conversion of the 2028 Notes, the Company may elect to satisfy the conversion obligation with cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s stock. As of June 30, 2026, the Company was in compliance with all covenants set forth in the indenture governing the 2028 Notes. The debt discount and debt issuance costs are amortized to interest expense over the term of the 2028 Notes at an effective interest rate of 4.7%.
9. Stock-Based Compensation and Stockholders' Equity
Common Stock Reserved for Future Issuance
Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of June 30, 2026 were as follows (in thousands):

| Shares of Common Stock Reserved
Stock options outstanding | 15 |
Restricted and performance stock units outstanding | 16,582 |
Shares available under the 2017 Plan | 940 |
Shares available under the 2022 Plan | 5,099 |
Shares available for future issuance under the ESPP | 4,425 |
Total shares of common stock reserved | 27,061 |

2022 Equity Incentive Plan
As of June 30, 2026, 5.1 million shares remained available for future grants under the Amended and Restated 2022 Equity Incentive Plan (the "2022 Plan"). Subsequent to the end of the quarter, shareholders approved an amendment to the 2022 Plan, increasing the number of shares reserved for future issuance by 8.3 million shares. See Note 1 2, Subsequent Events, for further details.
2017 New Employee Inducement Incentive Plan
As of June 30, 2026, approximately 0.9 million shares remained available for future grants under the Amended and Restated 2017 New Employee Inducement Incentive Plan (the "2017 Plan"). Subsequent to the end of the quarter, the Board of Directors approved an amendment increasing the number of shares reserved for future issuance by 1.2 million shares. See Note 12, Subsequent Events, for further details.
Stock-Based Compensation
The following table presents stock-based compensation expense (in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Cost of service revenue | $ | 174 |  |  | $ | 273 |  |  |  |  |
Cost of other revenue | 79 |  |  | 139 |  |  |  |  |
Research and development | 938 |  |  | 1,390 |  |  |  |  |
Sales and marketing | 1,171 |  |  | 1,999 |  |  |  |  |
General and administrative | 1,693 |  |  | 2,551 |  |  |  |  |
Total | $ | 4,055 |  |  | $ | 6,352 |  |  |  |  |

The Company accounts for stock-based compensation through the measurement and recognition of compensation expense for share-based payment awards made to employees, directors or consultants over the related requisite service period, including restricted stock, RSUs and PSUs, qualified performance-based awards, and stock grants (all issuable under the Company's equity incentive plans).
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As of June 30, 2026, unrecognized stock-based compensation expense by award type and their expected weighted-average recognition periods are summarized as follows (in thousands, except years):

| RSU |  | PSU |  | ESPP
Unrecognized stock-based compensation expense | $ | 22,460 |  |  | $ | 3,261 |  |  | $ | 250 |
Weighted-average amortization period | 2.2 years |  | 1.5 years |  | 0.8 years

Restricted Stock Units
The following table presents the RSU activity (shares in thousands):

RSUs | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (in Years)
Balance as of March 31, 2026 | 9,791 |  |  | $ | 2.00 |  |  | 0.86
Granted | 6,360 |  |  | 2.29 |  |  |
Vested and released | (2,716) |  |  | 2.08 |  |  |
Forfeited | (681) |  |  | 2.00 |  |  |
Balance as of June 30, 2026 | 12,754 |  |  | $ | 2.13 |  |  | 1.25

Performance Stock Units
Market-Based PSUs
Market-based PSUs are granted to certain employees, including executive officers, with vesting that is contingent on a combination of stock performance and continued service. These awards are eligible to be earned over a period of one year to four years based on Total Shareholder Return ("TSR"), relative to specified market indices, or the achievement of specific pre-established absolute stock price hurdles.
The grant date fair value of market-based PSUs is determined using a Monte Carlo simulation model. Stock-based compensation expense is recognized over the requisite service period, regardless of whether the market condition is ultimately achieved. During the three months ended June 30, 2026 and 2025, the Company determined that the market conditions were not achieved and therefore no shares have been earned.
Performance-Based PSUs
Performance-based PSUs are granted to certain employees, including executive officers, with vesting based on the achievement of specific financial or operational goals, such as revenue growth or cash flow from operations ("CFFO"). The grant date fair value of performance-based PSUs is valued based on the Company’s stock price at the grant date. Stock-based compensation expense is recognized over the requisite service period based on the number of units expected to vest, which is reassessed during each reporting period based on the Company’s evaluation of the probability of achieving the applicable performance conditions.
The Company determined that the CFFO and revenue targets for the performance period were probable of being achieved and recognized $0.4 million and $0.3 million of related compensation expense for the three months ended June 30, 2026 and 2025, respectively.
The following table presents the PSU activity (shares in thousands):

PSUs | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term (in Years)
Balance as of March 31, 2026 | 3,549 |  |  | $ | 2.48 |  |  | 0.65
Granted1 | 1,356 |  |  | 2.27 |  |  |
Vested and released | (938) |  |  | 1.90 |  |  |
Forfeited | (139) |  |  | 2.56 |  |  |
Balance as of June 30, 2026 | 3,828 |  |  | $ | 2.55 |  |  | 1.53

Employee Stock Purchase Plan
As of June 30, 2026, a total of 4.4 million shares remained available for issuance under the ESPP.
1 Represents performance-based PSUs granted based on the achievement of specific financial or operational goals, such as revenue growth or CFFO.
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Share Repurchase Program
In May 2017, the Company's board of directors authorized the Company to purchase $25.0 million of its common stock from time to time under the 2017 Repurchase Plan (the "2017 Repurchase Plan"). The 2017 Repurchase Plan expires when the maximum purchase amount is reached, or upon the earlier revocation or termination by the Company's board of directors. During the three months ended June 30, 2025, the Company repurchased 1.0 million shares of common stock in the open market for approximately $1.8 million at an average price of $1.83 per share. The total purchase price of the common stock repurchased and retired was reflected as a reduction to the condensed consolidated stockholders' equity during the repurchase period. The remaining amount of shares of common stock available for repurchase under the 2017 Repurchase Plan as of June 30, 2026 was approximately $5.2 million. During the three months ended June 30, 2026, the Company did not repurchase any shares of common stock under the 2017 Repurchase Plan.
10. Income Taxes
The Company's effective tax rate was (476.9)% and (42.0)% for the three months ended June 30, 2026 and 2025, respectively. The difference between the effective tax rate and the U.S. federal statutory rate was primarily due to the full valuation allowance that the Company maintains against its U.S. deferred tax assets after adjusting for the impact of certain provisions under the One Big Beautiful Bill Act (the "OBBBA"), current tax liabilities of profitable foreign subsidiaries subject to different local income tax rates, and state taxes in the United States. The effective tax rate is calculated by dividing the provision for income taxes by the loss before provision for income taxes.
11. Net Loss Per Share
Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period, and excludes any dilutive effects of employee stock-based awards and potential shares upon conversion of the convertible senior notes. Diluted net loss per share is computed after giving effect to all potentially dilutive shares of common stock, including the shares of common stock issuable upon the exercise of stock options, vesting of RSUs and PSUs, and shares of common stock issuable upon the conversion of convertible senior notes.
The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share (in thousands, except per share data):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Net loss | $ | (1,200) |  |  | $ | (4,315) |  |  |  |  |
Weighted average common shares outstanding - basic and diluted | 141,973 |  |  | 134,809 |  |  |  |  |
Net loss per share - basic and diluted | $ | (0.01) |  |  | $ | (0.03) |  |  |  |  |

Since the Company was in a loss position for all periods presented, basic net loss per share is equivalent to diluted net loss per share for all periods, as the inclusion of all potential dilutive shares would have had an anti-dilutive effect.
The following potentially dilutive weighted-average common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (shares in thousands):

| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |  |  |
Stock options | 15 |  |  | 121 |  |  |  |  |
Restricted stock units and Performance stock units | 2,963 |  |  | 5,689 |  |  |  |  |
Potential shares attributable to the ESPP | 1,224 |  |  | 1,449 |  |  |  |  |
Warrants to purchase common stock | 3,100 |  |  | 3,100 |  |  |  |  |
Convertible senior notes | 28,229 |  |  | 28,229 |  |  |  |  |
Total anti-dilutive shares | 35,531 |  |  | 38,588 |  |  |  |  |

The Company used the if-converted method for calculating any potential dilutive effect of its convertible senior notes for the three months ended June 30, 2026 and 2025. Under this method, the Company calculates diluted earnings per share under both the cash and share settlement assumptions to determine which is more dilutive. If share settlement is more dilutive, the Company calculates diluted earnings per share, assuming that all of the convertible senior notes were converted solely into shares of common stock at the beginning of the reporting period. The potential impact upon the conversion of the convertible senior notes was excluded from the calculation of diluted net loss per share for the three months ended June 30, 2026 and 2025 because the effect would have been anti-dilutive.
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12. Subsequent Events
Amendment to 2022 Plan
On August 3, 2026, the shareholders of the Company approved an amendment to the 2022 Plan, which increased the number of shares of the Company's common stock reserved for future issuance by 8.3 million shares.
Amendment to 2017 Plan
On July 29, 2026, the Board of Directors approved an amendment to the 2017 Plan, which increased the number of shares of the Company's common stock reserved for future issuance by 1.2 million shares.
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ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report. As discussed in the section entitled “Forward-Looking Statements,” the following discussion and analysis contain forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed below and elsewhere in this Quarterly Report, and those set forth under the section entitled "Risk Factors" in the Form 10-K for the fiscal year ended March 31, 2026.
Overview
8x8, Inc. is a global provider of integrated customer experience and business communications solutions, purpose-built to unify customer and employee engagement across the enterprise. Our 8x8 Platform for CX combines contact center, business communications, and application programmable interfaces ("APIs") for communications into a single, secure system powered by artificial intelligence ("AI") that delivers seamless, data-driven interactions. Designed for agility and scale, our platform helps businesses eliminate silos, improve operational efficiency, and turn every conversation into actionable intelligence. By aligning technology with measurable outcomes, we empower organizations to transform how they connect, serve, and grow from first interactions to lasting relationships.
We serve a broad customer base, from small businesses to large global enterprises across every major industry. We reach customers through a combination of direct sales and an expanding global network of channel partners. To serve diverse organizations of all sizes, we invest in retaining and growing customers across segments through a service model that scales from AI-powered support for smaller accounts to dedicated customer success resources for our most complex enterprise relationships.
We generate service revenue from subscriptions to our UCaaS and CCaaS offerings, as well as usage of our platform. Our service subscription plans are sold on a per-user basis and are structured with increasing levels of functionality, based on the specific communication needs and customer engagement profile of each user. Platform usage revenue is revenue recognized from sales of products on an as-used basis and includes the use of our communications APIs, digital and voice AI interactions and telephony minutes. Usage revenue increased by 63% in the first quarter of fiscal 2027 as customers increased inbound and outbound engagement strategies using our communication APIs and AI-based interactions.
We generate other revenue from professional services and the sale of office phones and other hardware equipment. We define a “customer” as one or more legal entities to which we provide services pursuant to a single contractual arrangement. In some cases, we may have multiple billing relationships with a single customer (for example, where we establish separate billing accounts for a parent company and each of its subsidiaries).
Macroeconomic and Other Factors
We are subject to risks and exposures, including those caused by adverse economic conditions. Macroeconomic conditions that could adversely affect our business include geopolitical instability, tariffs, inflationary pressures, increased interest rates, supply chain disruptions, decreased economic output, and currency volatility. We continuously monitor the impacts of these factors, as well as the overall global economy and geopolitical landscape, on our business and financial results.
While the implications of macroeconomic events on our business, results of operations, and overall financial position remain uncertain, we expect that difficult economic conditions could negatively impact our business in future periods. For example, our installed base includes small businesses, which tend to be disproportionately affected by macroeconomic headwinds. International revenue grew from approximately 38% of total revenue in the first quarter of fiscal 2026 to approximately 44% in the first quarter of fiscal 2027, increasing our exposure to foreign currency fluctuations. However, a significant portion of our international operating expenses is denominated in the same currencies as our international revenue, which partially mitigates the impact of currency movements on profitability. We also continue to monitor the pace of AI adoption across our customer base, which represents both an evolving competitive dynamic and a direct driver of demand for our platform capabilities and usage-based revenue.
Summary and Outlook
In the first quarter of fiscal 2027, we delivered the following financial results:
•Service revenue increased 5% to $185.3 million, compared to $176.3 million in the first quarter of fiscal 2026.
•Gross margin was 61.2%, compared to 66.4% in the first quarter of fiscal 2026.
•Operating income was $4.4 million, compared to $0.6 million in the first quarter of fiscal 2026.
•Net loss was $1.2 million, compared to $4.3 million in the first quarter of fiscal 2026.
•Cash provided by operating activities was $17.0 million, compared to $11.9 million in the first quarter of fiscal 2026.
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As part of our objectives to grow our revenue and increase profitability and cash flow, we are focused on retaining our existing customers and driving multi-product adoption within our installed base, as well as expanding our base with new customers. We believe that continued innovation is a critical factor in attracting and retaining our customers and is an important variable in achieving sustainable growth. We are committed to continuing our investment in research and development to deliver innovation across our Platform for CX, expand our ecosystem of integrated third-party applications, and maintain the high platform availability that our customers require.
Our primary focus involves the following: (i) expanding the features and functionality of our Platform for CX, (ii) increasing the use of our agentic AI solutions and communication APIs, (iii) growing our community of value-added resellers and technology partners as a means to expand distribution, especially in international regions, and (iv) increasing the efficiency of our operations through process improvements, automation, and self-service. We are embracing the use of AI internally to accelerate innovation and the introduction of new products, improve our sales productivity and conversion rates, increase the efficiency and security of our global network infrastructure, and simplify our back-office operations.
Our investment in research and development has enabled us to introduce new products like 8x8 Engage and 8x8 AI Studio, add capabilities that allow our customers to enhance their employee and customer experiences, and expand integrations within our Technology Partner Ecosystem. We also invested in our global network infrastructure to ensure continued high availability, enhance security, and lower the cost to deliver our services. Our combined investments in our platform and process improvements allow us to deliver tightly integrated solutions around the world that prioritize ease-of-use, out-of-the-box functionality, and rapid deployment. We expect the costs of delivering our communication services and communication APIs, both in total dollars and as a percentage of service revenue, to vary with the amount of service revenue and the mix of subscription and usage revenue within service revenue.
To improve our sales efficiency over time, we are investing in marketing programs to drive awareness for our solutions, training programs and tools to increase productivity in our direct sales, and partner enablement solutions to drive increased cross-sell and new business. We are also devoting resources to expand our community of value-added resellers, who provide implementation services and Tier 1 customer support in addition to sales capacity.
We continue to monitor factors that could have an impact on customer buying behavior and demand, including technological changes in AI-related developments, macroeconomic conditions, the competitive environment, contract duration, churn, upsell and down-sell, renewals, and payment terms, all of which have caused variability in our results and may continue to do so in the future.
Key GAAP Operating Results
To assess the success of our strategies to achieve growth and increase our cash flow, our management reviews our financial performance as presented in our condensed consolidated financial statements, including trends in revenue, gross profit margin, income (loss) from operations, and cash flow generated by operations in absolute dollars and as a percentage of revenue as presented in the following table:

| Fiscal 2027 |  | Fiscal 2026
| Three Months Ended |  | Three Months Ended
(In thousands, except percentages) | June 30, 2026 |  | March 31, 2026 |  | December 31, 2025 |  | September 30, 2025 |  | June 30, 2025
Service revenue | $ | 185,346 |  | $ | 180,175 |  | $ | 179,682 |  | $ | 179,094 |  | $ | 176,308
% of Total Revenue | 97.5 | % |  | 97.3 | % |  | 97.1 | % |  | 97.3 | % |  | 97.2 | %
Gross profit | $ | 116,371 |  | $ | 117,053 |  | $ | 118,216 |  | $ | 119,340 |  | $ | 120,440
% of Total Revenue | 61.2 | % |  | 63.2 | % |  | 63.9 | % |  | 64.8 | % |  | 66.4 | %
Income from operations | $ | 4,379 |  | $ | 3,330 |  | $ | 9,694 |  | $ | 5,349 |  | $ | 565
% of Total Revenue | 2.3 | % |  | 1.8 | % |  | 5.2 | % |  | 2.9 | % |  | 0.3 | %
Net income (loss) | $ | (1,200) |  | $ | 106 |  | $ | 5,090 |  | $ | 767 |  | $ | (4,315)
% of Total Revenue | (0.6) | % |  | 0.1 | % |  | 2.8 | % |  | 0.4 | % |  | (2.4) | %
Net cash provided by operating activities | $ | 17,034 |  | $ | 14,386 |  | $ | 20,692 |  | $ | 8,835 |  | $ | 11,873

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Components of Results of Operations
Service Revenue
Service revenue consists of communication services subscriptions, platform usage revenue, and related fees from our UCaaS, CCaaS and CPaaS offerings. We plan to increase service revenue through a combination of new customer acquisition, cross-selling of additional products to existing customers, including new products resulting from our increased investment in innovation, artificial intelligence, geographic expansion of our customer base outside the United States, innovation in our products and technologies, and strategic acquisitions of technologies and businesses.
Other Revenue
Other revenue consists of revenue from professional services, primarily in support of deployment of our solutions and platform, and revenue from sales and rentals of IP telephones in conjunction with our cloud telephony service. Other revenue is dependent on the number of customers who choose to purchase or rent IP telephone hardware in conjunction with our service instead of using the solution on their cell phone, computer, or other compatible device, and/or choose to engage our professional services organization for implementation and deployment of our cloud services.
Cost of Service Revenue
Cost of service revenue consists primarily of costs associated with network operations and related personnel, technology licenses, amortization of intangible assets and capitalized internal use software, other communication origination and termination services provided by third-party carriers, outsourced customer service call center operations, and other costs such as customer service costs and technical support costs. We allocate overhead costs, such as information technology and facilities, to cost of service revenue, as well as to each of the operating expense categories, generally based on relative headcount. Our information technology costs include costs for information technology infrastructure and personnel. Facilities costs primarily consist of office leases and related expenses.
Cost of Other Revenue
Cost of other revenue consists primarily of costs associated with the purchase and shipping and handling of IP telephone hardware, as well as scheduling, personnel costs, and other expenditures incurred in connection with the professional services associated with the deployment and implementation of our products, and allocated information technology and facilities costs.
Research and Development
Research and development expenses consist primarily of personnel and related costs, stock-based compensation, third-party development, software and equipment costs necessary to conduct our product, platform development and engineering efforts, as well as allocated information technology and facilities costs.
Sales and Marketing
Sales and marketing expenses consist primarily of personnel and related costs, stock-based compensation, sales commissions, including those to the channel, trade shows, advertising and other marketing, demand generation, and promotional expenses, as well as allocated information technology and facilities costs.
General and Administrative
General and administrative expenses consist primarily of personnel and related costs, professional services fees, corporate administrative costs, tax and regulatory fees, stock-based compensation and allocated information technology and facilities costs.
Interest Expense
Interest expense consists primarily of interest expense related to our term loan and convertible notes, and amortization of debt discount and issuance costs.
Other Income (Expense), Net
Other income (expense), net, consists primarily of losses on debt extinguishment, gain on warrant remeasurement, interest income, gains or losses on foreign exchange transactions, as well as other income.
Provision for Income Taxes
Provision for income taxes consists primarily of foreign income taxes and state taxes in the United States. As we expand the scale of our international business activities, any changes in the United States and foreign taxation of such activities may increase our overall provision for income taxes in the future. We have a valuation allowance for our U.S. deferred tax assets, including federal and state net operating loss carryforwards. We expect to maintain this valuation allowance until it becomes more likely than not that the benefit of our federal and state deferred tax assets will be realized by way of expected future taxable income in the United States.
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Results of Operations
Revenue
Service revenue

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Service revenue | $ | 185,346 |  | $ | 176,308 |  | $ | 9,038 |  |  | 5.1 | % |  |  |  |  |  |  |  |
Percentage of total revenue | 97.5 | % |  | 97.2 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Service revenue increased by $9.0 million, or 5.1%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025. This change was driven by an increase of $18.5 million in platform usage revenue generated primarily in the Asia-Pacific region, resulting from higher customer consumption volumes of our usage-based offerings, reflecting expanded customer adoption and usage of messaging, minutes and AI-based solutions during the period. This increase was partially offset by a decrease in subscription revenue of $9.5 million related to customer churn and down-sell.
Other revenue

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Other revenue | $ | 4,824 |  | $ | 5,053 |  | $ | (229) |  |  | (4.5) | % |  |  |  |  |  |  |  |
Percentage of total revenue | 2.5 | % |  | 2.8 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Other revenue decreased by $0.2 million, or 4.5%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, due to a decrease in professional service revenue of $0.8 million, partially offset by an increase in product revenue of $0.6 million.
Cost of Revenue
Cost of service revenue

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Cost of service revenue | $ | 67,635 |  | $ | 53,822 |  | $ | 13,813 |  |  | 25.7 | % |  |  |  |  |  |  |  |
Percentage of service revenue | 36.5 | % |  | 30.5 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Cost of service revenue increased by $13.8 million, or 25.7%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to an increase of $15.8 million in network and carrier service provider costs to deliver our platform usage services and support our capacity needs. These increases were partially offset by decreases of $1.6 million in salaries, benefits and consulting costs, $0.2 million in amortization of intangible assets, and $0.2 million in stock-based compensation.
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Cost of other revenue

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Cost of other revenue | $ | 6,164 |  | $ | 7,099 |  | $ | (935) |  |  | (13.2) | % |  |  |  |  |  |  |  |
Percentage of other revenue | 127.8 | % |  | 140.5 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Cost of other revenue decreased by $0.9 million, or 13.2%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to a decrease in salaries, benefits, and consulting costs to deliver our professional services.
Gross Profit

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Gross profit | $ | 116,371 |  | $ | 120,440 |  | $ | (4,069) |  |  | (3.4) | % |  |  |  |  |  |  |  |
Percentage of total revenue | 61.2 | % |  | 66.4 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Gross profit decreased by $4.1 million, or 3.4%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, driven by the shift in revenue mix toward usage-based offerings as growth in cost of service revenue outpaced service revenue growth. Generally, usage-based offerings generate higher network and carrier service provider costs per dollar of revenue relative to our subscription-based offerings, resulting in lower gross margin.
Research and development

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Research and development | $ | 28,406 |  | $ | 28,364 |  | $ | 42 |  |  | 0.1 | % |  |  |  |  |  |  |  |
Percentage of total revenue | 14.9 | % |  | 15.6 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Research and development expenses were flat for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to decreases of $2.4 million in combined salaries, benefits, and consulting costs necessary to conduct our product, platform development and engineering efforts and $0.5 million in stock-based compensation. These decreases were offset by increases of $2.4 million in capitalization of internally-developed software, software licenses and other costs and $0.5 million in amortization of capitalized software.
Sales and marketing

| Three Months Ended June 30, |  |  |  |  |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Sales and marketing | $ | 58,750 |  | $ | 68,184 |  | $ | (9,434) |  |  | (13.8) | % |  |  |  |  |  |  |  |
Percentage of total revenue | 30.9 | % |  | 37.6 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Sales and marketing expenses decreased by $9.4 million, or 13.8%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to decreases of $4.1 million in salaries, benefits, and consulting costs, $3.5 million in channel commissions and amortization of deferred contract acquisition costs, $1.0 million in paid media and other marketing services costs, and $0.8 million in stock-based compensation expense.
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General and administrative

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
General and administrative | $ | 24,836 |  | $ | 23,327 |  | $ | 1,509 |  |  | 6.5 | % |  |  |  |  |  |  |  |
Percentage of total revenue | 13.1 | % |  | 12.9 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
General and administrative expenses increased by $1.5 million, or 6.5%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to increases of $2.4 million in transaction-related and general corporate costs and $0.5 million in personnel and consulting costs. These increases were partially offset by decreases of $0.9 million in stock-based compensation and $0.5 million in legal and regulatory costs.
Other expense, net
Interest expense

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Interest expense | $ | (4,179) |  | $ | (3,968) |  | $ | (211) |  |  | 5.3 | % |  |  |  |  |  |  |  |
Percentage of total revenue | (2.2) | % |  | (2.2) | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Interest expense increased by $0.2 million, or 5.3%, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to capitalized interest related to property, plant and equipment from general borrowing costs recorded in fiscal 2026. This increase was partially offset by reduced debt interest due to a lower interest rate and principal balance on the 2024 Term Loan. See Note 8, Convertible Senior Notes and Term Loan, for further details.
Other income (expense), net

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Other income (expense), net | $ | (408) |  | $ | 364 |  | $ | (772) |  |  | (212.1) | % |  |  |  |  |  |  |  |
Percentage of total revenue | (0.2) | % |  | 0.2 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
We recognized $0.4 million of other expense, net during the three months ended June 30, 2026, compared to $0.4 million of other income, net during the three months ended June 30, 2025, primarily due to an increase of $0.7 million in foreign exchange losses and a reduced gain of $0.1 million on the remeasurement of the Warrants issued in connection with the 2022 Term Loan.
Provision for income taxes

| Three Months Ended June 30, |  |  |  |  |  |
(In thousands, except percentages) | 2026 |  | 2025 |  | Change |  |  |  |  |  |
Provision for income taxes | $ | 992 |  | $ | 1,276 |  | $ | (284) |  |  | (22.3) | % |  |  |  |  |  |  |  |
Percentage of total revenue | 0.5 | % |  | 0.7 | % |  |  |  |  |  |  |  |  |  |  |  |

Three Months Ended
Provision for income taxes decreased by $0.3 million for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily driven by the effects of the OBBBA on federal and state taxes for the three months ended June 30, 2026.
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Liquidity and Capital Resources
We believe that our existing cash, cash equivalents and our anticipated cash flows from operations will be sufficient to meet our working capital, expenditure, and contractual obligation requirements for a minimum of the next twelve months and the foreseeable future. Although we believe we have adequate sources of liquidity for at least the next twelve months and for the foreseeable future, the success of our operations, the global economic outlook, and the pace of growth in our markets could impact our business and liquidity.
Cash and Cash Equivalents
The following is a summary of our cash and cash equivalents (in thousands):

| June 30, 2026 |  | March 31, 2026
Cash and cash equivalents | $ | 90,595 |  |  | $ | 93,260 |
Restricted cash, current 1 | 1,707 |  |  | 1,702 |
Total | $ | 92,302 |  |  | $ | 94,962 |

(1) Restricted cash is related to accrued holdbacks for business combinations.
Our primary requirements for liquidity and working capital include delivery of our various products to customers, research and development, sales and marketing activities, principal and interest payments on our outstanding debt and other general corporate needs. Historically, these cash requirements have been met from cash provided by operating activities and our cash and cash equivalents balances. Our current capital deployment strategy for fiscal 2027 is to maintain sufficient liquidity to fund our operations and growth initiatives, including planned software development activities, and to pay down our outstanding debt. As of June 30, 2026, we are not party to any off-balance sheet arrangements that have had or are reasonably likely to have a current or future material effect on our financial condition, results of operations, liquidity, capital expenditures, or capital resources. Significant cash requirements for the fiscal year include our operating lease obligations, principal and interest payments related to our debt obligations, and operating and capital purchase commitments. For information regarding our expected cash requirements and timing of payments related to leases and noncancelable purchase commitments, see Note 6, Leases, and Note 7, Commitments and Contingencies, respectively, to the condensed consolidated financial statements. Additionally, refer to Note 8, Convertible Senior Notes and Term Loan, to the condensed consolidated financial statements for more information related to our debt obligations.
Our outstanding 2024 Term Loan allows for voluntary prepayments. In order to reduce future cash interest payments, as well as future amounts due at maturity or upon redemption, we may, from time to time, make prepayments. The Company evaluates opportunities for stock repurchases, and may utilize cash and cash equivalents to repurchase shares under the 2017 Repurchase Plan. During the three months ended June 30, 2025, the Company repurchased 1.0 million shares of common stock in the open market for approximately $1.8 million at an average price of $1.83 per share. For more information, see Note 9, Stock-Based Compensation and Stockholders' Equity.
As of June 30, 2026, our 2028 Notes were trading at a discount to their respective principal amount. We may seek to retire, refinance or purchase our outstanding debt through open-market purchases, privately negotiated transactions or otherwise, which may have an impact on our liquidity requirements. Any such transactions will be dependent upon several factors, including our liquidity requirements, contractual restrictions, prevailing market conditions, and other factors. Whether or not we engage in any such transactions will be determined at our discretion. For historical debt payments, see Note 8, Convertible Senior Notes and Term Loan.
Cash Flows
The following is a summary of our cash flows provided by (used in) operating, investing and financing activities (in thousands):

| Three Months Ended June 30,
| 2026 |  | 2025
Net cash provided by operating activities | $ | 17,034 |  |  | $ | 11,873 |
Net cash used in investing activities | (3,148) |  |  | (4,416) |
Net cash used in financing activities | (16,184) |  |  | (17,337) |
Effect of exchange rate changes on cash | (362) |  |  | 2,788 |
Net decrease in cash and cash equivalents | $ | (2,660) |  |  | $ | (7,092) |

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Cash provided by operating activities increased by $5.2 million to $17.0 million for the three months ended June 30, 2026, primarily due to an increase in cash collected from customers, a decrease in cash paid to vendors, employees and interest on outstanding debt and an increase in other accrued liabilities primarily in the APAC region. Cash used in investing activities decreased by $1.3 million to $3.1 million for the three months ended June 30, 2026, mainly due to a decrease in capitalized internal-use software costs partially offset by an increase in purchases of property and equipment. Cash used in financing activities decreased by $1.2 million to $16.2 million for the three months ended June 30, 2026, mainly due to a repurchase of common stock completed in fiscal 2026 and repayment of the 2024 Term Loan, partially offset by an increase in payments for other activities.
Debt Obligations
See Note 8, Convertible Senior Notes and Term Loan, in the unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report for information regarding our debt obligations.
2024 Delayed Draw Term Loan
On July 11, 2024, we entered into a new term loan credit agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders thereto (the “2024 Credit Agreement”). The 2024 Credit Agreement establishes a delayed draw term loan facility in an aggregate principal amount of up to $200.0 million maturing on August 15, 2027.
On August 5, 2024, we drew upon the entire facility of $200.0 million under the delayed draw term loan facility (the "2024 Term Loan") and used the proceeds of the 2024 Term Loan and cash on hand of approximately $29.0 million to repay in full the $225.0 million of outstanding principal amount and accrued interest of the 2022 Term Loan and the fees incurred in connection with the Repayment.
The 2024 Term Loan bears interest at an annual rate equal to the Term SOFR, plus a margin of either 2.50%, 2.75% or 3.00% based on the consolidated total net leverage ratio of the Company and its subsidiaries. The initial margin was 3.00% for the fiscal quarter ending September 30, 2024 and remained 3.00% as of June 30, 2026. We have the option to pay interest monthly, quarterly, or semi-annually. During the three months ended June 30, 2026, we elected monthly interest payment terms which resulted in cash payments of $1.8 million. For the three months ending September 30, 2026, we have elected monthly interest payment terms, which will result in cash payments of approximately $1.8 million. As of June 30, 2026, the debt issuance costs were amortized to interest expense over the term of the 2024 Term Loan at an effective interest rate of 8.61%.
Under the terms of the 2024 Credit Agreement, we have the right to prepay the 2024 Term Loan at any time without any premium or penalty. We completed three principal repayments of the 2024 Term Loan during fiscal 2026 for a total of $30.0 million in aggregate principal amount. We completed one principal repayment of the 2024 Term Loan during fiscal 2027 for $14.5 million in aggregate principal amount.
As of June 30, 2026, the scheduled minimum principal repayments are $25.0 million in fiscal 2027 (comprised of $12.5 million on each of December 31, 2026 and March 31, 2027) and $82.5 million fiscal 2028 (comprised of $12.5 million on June 30, 2027 and $70.0 million due upon maturity on August 15, 2027). As of June 30, 2026, we have paid $22.5 million, $37.5 million, $22.5 million, and $10.0 million of the originally scheduled principal repayments due in fiscal 2025, 2026, 2027, and 2028 respectively, and the remaining principal amount of the 2024 Term Loan after the payments is $107.5 million.
These short-term principal debt repayments are accounted for as partial debt extinguishment transactions. The carrying value of the 2024 Term Loan, including the unamortized debt discount and issuance costs, was derecognized. The difference between the cash consideration paid to partially extinguish the 2024 Term Loan and the carrying value of the 2024 Term Loan was recognized as a loss on debt extinguishment included in the loss on debt extinguishment line item recorded in other expense in the condensed consolidated statement of operations and comprehensive income (loss). See Note 4, Financial Statement Components, for further details.
Material Cash Requirements and Other Obligations
As of March 31, 2026, our material cash requirements and other obligations were $69.6 million. During the fiscal year ended March 31, 2026, we increased our noncancelable three-year hosting service contract commitment from $24.1 million to $54.0 million. Under this agreement, $6.7 million remains due in fiscal 2027 and $10.0 million will be due in fiscal 2028. During the three months ended June 30, 2026, we entered into a $74.0 million noncancelable five-year hosting service contract with a cloud service provider. Under this agreement, $8.1 million remains due during fiscal 2027, $13.9 million will be due during fiscal 2028, $15.8 million will be due during fiscal 2029 and $36.2 million will be due for the remaining contractual term. For information regarding our material cash requirements and other obligations, see Item 7, "Management's Discussion and Analysis" in the Form 10-K.
During the three months ended June 30, 2026, we reduced the 2024 Term Loan contractual principal by $14.5 million to $107.5 million. See Note 8, Convertible Senior Notes and Term Loan, for further details.
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Critical Accounting Policies and Estimates
The discussion and analysis of our financial condition and results of operations are based upon our condensed consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures of assets and liabilities. On an ongoing basis, we evaluate our critical accounting policies and estimates. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Our consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). See Note 1, The Company and Significant Accounting Policies, in the notes to the unaudited condensed consolidated financial statements included in this Quarterly Report, which describes the significant accounting policies and methods used in the preparation of our consolidated financial statements. There have been no significant changes during the three months ended June 30, 2026 to our critical accounting policies and estimates previously disclosed in the Form 10-K.
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk
There have been no material changes in our exposures to market risk since March 31, 2026. For details on the Company’s interest rate and foreign currency exchange risks, see Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk” in the Form 10-K.
ITEM 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) as of June 30, 2026. Based on this evaluation, our CEO and CFO concluded that, as of June 30, 2026, our disclosure controls and procedures were effective at a reasonable assurance level to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms.
Changes in Internal Control Over Financial Reporting
During the three months ended June 30, 2026, there was no change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
Limitations on the Effectiveness of Controls
Our management, including the CEO and CFO, does not expect that our disclosure controls or internal control over financial reporting will prevent all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system's objectives will be met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected.
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PART II. OTHER INFORMATION
ITEM 1. Legal Proceedings
Information with respect to this item may be found in Note 7, Commitments and Contingencies, under the heading “Legal Proceedings” in the Notes to Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report, which is incorporated by reference in response to this item.
ITEM 1A. Risk Factors
Investing in our securities involves risk. Prior to making a decision about investing in our securities, you should carefully consider the specific factors discussed below and under the heading “Risk Factors” in any prospectus supplement, together with all of the other information contained or incorporated by reference in this Quarterly Report. You should also consider the risk factors related to our business and operations described in Part I, Item 1A of the Form 10-K under the heading “Risk Factors”. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our operations.
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Unregistered Sales of Equity Securities
None.
(b) Use of Proceeds from Registered Securities
None.
(c) Issuer Purchases of Equity Securities
None.
ITEM 3. Defaults Upon Senior Securities
None.
ITEM 4. Mine Safety Disclosures
Not applicable.
ITEM 5. Other Information
None of the Company's directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated a Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the three months ended June 30, 2026, except as noted below:
Andrew Burton, a member of our Board of Directors and a Section 16 director, adopted a Rule 10b5-1 Trading Plan on June 12, 2026, intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Burton's Rule 10b5-1 Trading Plan provides for the potential sale, beginning no earlier than September 11, 2026, of up to 107,085 shares of the Company's common stock. The plan is scheduled to expire on October 12, 2026.
Laurence Denny, our Chief Legal Officer, Corporate Secretary, and a Section 16 officer, adopted a Rule 10b5-1 Trading Plan on June 12, 2026, intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Denny’s Rule 10b5-1 Trading Plan provides for the potential sale of up to 20,000 shares of the Company’s common stock, plus an additional number of shares that Mr. Denny may receive in connection with his participation in the ESPP. The exact number of these additional shares can only be determined upon the future purchase of shares under the ESPP. The plan is scheduled to expire on May 20, 2027.
Samuel Wilson, our Chief Executive Officer and a Section 16 officer, adopted a Rule 10b5-1 Trading Plan on June 12, 2026, intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Wilson’s Rule 10b5-1 Trading Plan provides for the potential sale of up to 24,000 shares of the Company’s common stock. The plan is scheduled to expire on September 15, 2027.
Our officers (as defined in Rule 16a-1(f) under the Exchange Act) have entered into sell-to-cover arrangements, which constitute non-Rule 10b5-1 trading arrangements (as defined in Item 408(c) of Regulation S-K), authorizing the pre-arranged sale of shares to satisfy tax withholding obligations of the Company arising exclusively from the vesting of RSUs and PSUs, as applicable, and the related issuance of shares. Any sale of shares under these arrangements will occur only if (i) the aggregate value of all of the shares withheld by the Company to satisfy such tax withholding obligations in the given fiscal year has reached a certain threshold, and (ii) the sale does not result in any short-swing liability under Section 16(b) of the Exchange Act. The amount of shares to be sold under these arrangements may vary and will be dependent on the trading price of the Company’s common stock at the time of the vesting of the RSUs and PSUs, as applicable. Each of these arrangements lasts until the final vesting date of the applicable RSUs or PSUs, or each officer’s earlier termination of employment.
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ITEM 6. Exhibits

|  | Incorporated by Reference |
Exhibit Number | Exhibit Description | Company Form | Filing Date | Exhibit Number | Filed Herewith
3.1 | Certificate of Amendment to the Restated Certificate of Incorporation of 8x8, Inc., dated as of July 12, 2022 | 8-K | 7/13/2022 | 3.1 |
3.2 | Amended and Restated By-Laws of 8x8, Inc. | 8-K | 7/28/2015 | 3.2 |
10.1 | 8x8, Inc. Amended and Restated 2022 Equity Incentive Plan |  |  |  | X
10.2 | 8x8, Inc. Amended and Restated 2017 New Employee Ind ucement Incentive Plan |  |  |  | X
10.3 | Offer Letter, dated as of June 25, 2026, between 8x8, Inc. and Colleen Martin-Garcia |  |  |  | X
10.4 | Offer Letter, dated as of February 15, 2018, between 8x8, Inc. and Hunter L. Middleton |  |  |  | X
31.1 | Certification of Chief Executive Officer of the Registrant pursuant to Rule 13a-14 |  |  |  | X
31.2 | Certification of Chief Financial Officer of the Registrant pursuant to Rule 13a-14 |  |  |  | X
32.1 | Certification of Chief Executive Officer of the Registrant pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |  |  |  | X
32.2 | Certification of Chief Financial Officer of the Registrant pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |  |  |  | X
101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |  |  |  | X
101.SCH | XBRL Taxonomy Schema Linkbase Document |  |  |  | X
101.CAL | XBRL Taxonomy Calculation Linkbase Document |  |  |  | X
101.DEF | XBRL Taxonomy Definition Linkbase Document |  |  |  | X
101.LAB | XBRL Taxonomy Labels Linkbase Document |  |  |  | X
101.PRE | XBRL Taxonomy Presentation Linkbase Document |  |  |  | X
104 | Cover Page Interactive Data File. Formatted as inline XBRL and contained in Exhibit 101. |  |  |  | X

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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant, 8x8, Inc., a Delaware corporation, has duly caused this Quarterly Report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Campbell, State of California, on August 5, 2026.

|  | 8x8, Inc.
|  | /s/ Kevin Kraus
|  | Kevin Kraus
|  | Chief Financial Officer
|  | (Principal Financial Officer and Duly Authorized Officer)

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