Communications platform 8x8 grows revenue by 30% in Q1

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8x8, an integrated cloud communications platform, has reported its financial results for the first quarter of fiscal year 2021.

The company reports a total annual recurring revenue increase of 30% year-over-year, with channel bookings growing 47% year-over-year – representing 62% of new bookings.

In the same period, the company closed 38 new customer deals, with annual recurring revenue greater than $100,000.

“Our strategy remains focused on profitability, execution and maximising growth. The results of last quarter clearly reflect steady improvements in operational efficiency,” said Vik Verma, chief executive officer at 8x8 Inc.

“We delivered Q1 results that exceeded our financial outlook and finished the quarter with strong momentum. The launch of our Open Communications Platform, coupled with continued growth in mid-market and enterprise driven by our channel-first approach position us well for the future.”

Key company highlights over the period include the appointment of Samuel Wilson as the company’s chief financial officer, as well as the global expansion of the 8x8 Open Channel Programme in North America, Europe, and the Asia Pacific region with more than 1,000 active partners worldwide.

The company also added Value-Added Resellers (VARs) to the programme, including Lantana Communications and ScanSource partners including Allegiant Technology, Gage Telecom, Shamrock Communications and Stack 8 Technologies.