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8X8 INC /DE/
FORM 10-K
(Annual Report)
Filed 05/27/14 for the Period Ending 03/31/14
Address 2125 O'NEL DRIVE
SAN JOSE, CA 95131
Telephone 4087271885
CIK 0001023731
Symbol EGHT
SIC Code
4813 - Telephone Communications, Except Radiotelephone
Industry Communications Services
Sector Services
Fiscal Year 03/31
http://www.edgar-online.com
© Copyright 2014, EDGAR Online, Inc. All Rights Reserved.
Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use.

Table of contents

  • Page 1
    8X8 INC /DE/ FORM 10-K (Annual Report) Filed 05/27/14 for the Period Ending 03/31/14 Address Telephone CIK Symbol SIC Code Industry Sector Fiscal Year 2125 O'NEL DRIVE SAN JOSE, CA 95131 4087271885 0001023731 EGHT 4813 - Telephone Communications, Except Radiotelephone Communications Services ...

  • Page 2
    ... 31, 2014 Commission file number 000-21783 (Exact name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of Incorporation or Organization) 77-0142404 (I.R.S. Employer Identification Number) 2125 O'Nel Drive San Jose, CA 95131 (Address of Principal Executive Offices...

  • Page 3
    ..., 11, 12, 13 and 14 of Part III incorporate information by reference from the Proxy Statement to be filed within 120 days of March 31, 2014 for the 2014 Annual Meeting of Stockholders. 8X8, INC. INDEX TO ANNUAL REPORT ON FORM 10-K FOR YEAR ENDED MARCH 31, 2014 Part I. Item 1. Item 1A. Item 1B. Item...

  • Page 4
    Part IV. Item 15. Signatures Exhibits and Financial Statement Schedules 79 80

  • Page 5
    ...in the competitive dynamics of the markets in which we compete, customer cancellations and rate of churn, impact of current economic climate and adverse credit markets on our target customers, our ability to scale our business, our reliance on infrastructure of third-party network services providers...

  • Page 6
    ... incorporated in California in February 1987 and reincorporated in Delaware in December 1996. We maintain a corporate Internet website at the address http://www.8x8.com. The contents of this website are not incorporated in or otherwise to be regarded as part of this Annual Report. We file reports...

  • Page 7
    ... plug in our pre-configured IP phones to use a turnkey cloud telephony solution and access our software platform. Applications Integration. We integrate with third-party applications including Salesforce.com, Microsoft Dynamics, NetSuite, Zendesk, SugarCRM, eAgent and many others to provide enhanced...

  • Page 8
    ... to comply with these regulations. Our services work on smartphones, tablets, PCs, IP phones and mobile phones. In addition, our platform integrates with third party applications such as Salesforce.com, NetSuite, Microsoft Dynamics, SugarCRM, Zendesk, eAgent and many others to provide enhanced...

  • Page 9
    ... call transfer, do not disturb ("DND") and call forwarding; Microsoft Outlook Contacts and Corporate Directory integration; Virtual Meeting - allows subscribers to create, join and invite participants to web, audio and video meetings; Virtual Office Mobile extension - to place and receive VoIP calls...

  • Page 10
    ...Voice Response, integration with third party CRM and ERP solutions, and contact and case management tools. Virtual Meeting We launched our Virtual Meeting service in September 2009 as an affordable, easy-to-use web event service that allows businesses to meet with customers, share and edit documents...

  • Page 11
    ...party applications. We maintain a call switching platform in software that manages call admission, call control, call rating and routes calls to an appropriate destination or customer premise equipment. Network Operations Center We maintain a network operations center at our headquarters in San Jose...

  • Page 12
    ... and Technical Support We maintain a call center at our headquarters in San Jose, California and have a staff of more than 100 employees and contractors that provide customer service and technical support to customers. In addition, we have outsourced some customer support activities to third parties...

  • Page 13
    In addition to regulations addressing Internet telephony and broadband services, other regulatory issues relating to the Internet, in general, could affect our ability to provide our services. Congress has adopted legislation that regulates certain aspects of the Internet including online content, ...

  • Page 14
    ... As of March 31, 2014, our workforce consisted of 484 employees. None of our employees are represented by a labor union or are subject to a collective bargaining arrangement. Executive Officers of the Registrant Our executive officers as of the date of this report are listed below. Vikram Verma...

  • Page 15
    ... and distributed enterprise customers. If we do not help our customers quickly resolve post-deployment issues and provide effective ongoing support, our ability to sell additional functionality and services to existing customers will suffer and our reputation with existing or potential customers...

  • Page 16
    ... our gross profits or decrease our market share. In addition, our customers are not subject to long-term contractual commitments to purchase our services and can terminate our service and switch to competitors' offerings on short notice. Given the significant price competition in the markets for our...

  • Page 17
    ... contract lengths. We may not accurately predict cancellation rates for our customers. Our cancellation rates may increase or fluctuate as a result of a number of factors, including customer usage, pricing changes, number of applications used by our customers, customer satisfaction with our service...

  • Page 18
    ...to devote additional resources to improving our application architecture, integrating our products and applications across our technology platform, integrating with third-party systems, and maintaining infrastructure performance. As our customers gain more experience with our services, the number of...

  • Page 19
    ...condition or operating results. The rates we pay to our network service providers may also increase, which may reduce our profitability and increase the retail price of our service. While we believe that relations with our current service providers are good, and we have contracts in place, there can...

  • Page 20
    ... delay or interruption in supply by these vendors would result in delayed or reduced shipments to our customers and may harm our business. We rely on third-party vendors for IP phones and software endpoints required to utilize our service. We currently do not have long-term supply contracts with any...

  • Page 21
    ... ability of our users to access the Internet, and certain of our products require significant bandwidth to work effectively. In addition, users who access our services and applications through mobile devices, such as smartphones and tablets, must have a high-speed connection, such as Wi-Fi, 3G, 4G...

  • Page 22
    ...of our users, or the failure of third party vendors to deliver credit card transaction processing services. A fundamental requirement for operating an Internet-based, worldwide communication and collaboration service and electronically billing our customers is the secure transmission of confidential...

  • Page 23
    ... such as the phone numbers called by a consumer, the frequency, duration, and timing of such calls, and any services/features purchased by the consumer, such as call waiting, call forwarding, and caller ID, in addition to other information that may appear on a consumer's bill. Natural disasters, war...

  • Page 24
    ... Property, L.L.C., or AT&T IP, expressing the belief that we must license a specified patent for use in our 8x8 broadband telephone service, as well as suggesting that we obtain a license to its portfolio of MPEG-4 patents for use with our video telephone products and services. At the same time...

  • Page 25
    ... necessary to sustain our business. On November 29, 2013, we acquired Voicenet Solutions Limited ("Voicenet"), a UK-based provider of cloud communications and collaboration services in the United Kingdom. In fiscal 2012, we completed two acquisitions of businesses. In fiscal 2011, we completed one...

  • Page 26
    ...by us or our competitors; market acceptance of new or existing services and features; the mix of our customer base and sales channels; the mix of services sold; the number of additional customers, on a net basis; the amount and timing of costs associated with recruiting, training and integrating new...

  • Page 27
    ... for Law Enforcement Act, or CALEA. The FCC allows VoIP providers to comply with CALEA through the use of a service provided by a trusted third party with the ability to extract call content and call-identifying information from a VoIP provider's network. The FCC may require us to deploy an E-911...

  • Page 28
    ...providers and others involved in handling 911 calls the same liability protections when handling 911 calls from interconnected VoIP users as from mobile or wired telephone service users. The applicability of the liability protections to our national call center service is unclear at the present time...

  • Page 29
    ... pricing differentials to attract new customers in the future. Continued rate decreases would require us to lower our rates to remain competitive and would reduce or possibly eliminate any gross profit from our services. In addition, we may lose subscribers for our services. Because our long-term...

  • Page 30
    ... We support local number portability, or LNP, which allows our customers to retain their existing telephone numbers when subscribing to our services. A new customer of our services must maintain both the new 8x8 service and the customer's existing telephone service during the number transfer process...

  • Page 31
    ...ability of our board of directors to issue shares of preferred stock and to determine the price and other terms of those shares, including preferences and voting rights, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquirer; the exclusive right...

  • Page 32
    ... operations are located in San Jose, CA in a facility that is approximately 104,657 square feet of leased office space. Outside the United States our operations are conducted primarily in leased sites located in the United Kingdom. We believe our facilities will adequately meet our current and...

  • Page 33
    ... as a defendant in a lawsuit, TQP Development, LLC v. 8x8, Inc. On April 30, 2014 (and before any service of the complaint), TQP Development filed papers to dismiss this lawsuit and other lawsuits that were filed on or about the same time. ITEM 4. MINE SAFETY DISCLOSURES Not applicable. PART II ITEM...

  • Page 34
    ... 8x8's common stock, the NASDAQ Composite Index and the NASDAQ Telecommunications Index. The graph is furnished, not filed,...26,584 (192,346) 15,861 $ $ $ $ $ $ 2014 Total revenues Net income Net income per share: Basic Diluted Total assets Fair value of warrant liability Accumulated deficit Total ...

  • Page 35
    ... of UCC services in the cloud. Our software abstracts complex networking, redundancy, security and interconnection requirements to provide a seamless and easy-to-use solution for our customers. Our software also integrates with leading ERP, CRM, HCM and other third-party application suites, such...

  • Page 36
    ...provisioning of the 8x8 cloud service with the accompanying 8x8 IP telephone constitutes a revenue arrangement with multiple deliverables. For arrangements with multiple deliverables, we allocate the arrangement consideration to all units of accounting based on their relative selling prices. In such...

  • Page 37
    ... multiple deliverables we allocate arrangement consideration, including activation fees, among the 8x8 IP telephones and subscriber services based on their relative selling prices. Arrangement consideration allocated to the IP telephones that is fixed or determinable and that is not contingent on...

  • Page 38
    ... public switched telephone network services. We recorded $0.1 million, $0 and $0 of expense for the years ended March 31, 2014, 2013 and 2012, respectively, for estimated tax exposure for such assessments. Stock-Based Compensation We account for our employee stock options, stock purchase rights...

  • Page 39
    ... operations and excludes dedicated server hosting business sold September 30, 2013. (2) Does not include customers of Virtual Office Solo, DNS or Cloud VPS. 35 (3) Number of recurring revenue services sold to business customers during the period. (4) Number of new services sold divided by gross...

  • Page 40
    ... to be customers that are paying for service. Customers subscribing to Virtual Office Solo, DNS or Cloud VPS services are not included as business customers. (7) The simple average number of subscribed services divided by the simple average number of business customers during the period. The...

  • Page 41
    ...$2.5 million increase in third party network service expenses, a $0.9 million increase in payroll and related expenses, a $0.4 million increase in depreciation expenses, a $0.4 million increase in amortization expense due to intangibles acquired in acquisitions, a $0.1 million increase in consultant...

  • Page 42
    ... $0.4 million increase in credit card processing fees, a $0.3 million increase in trade show expenses, a $0.3 million increase in amortization expense due to intangibles acquired in acquisitions and a $0.2 million increase in expensed computer, software and light furniture. The increase in sales and...

  • Page 43
    ... $1.1 million in stock-based compensation related to the ...service expenses, a $0.2 million increase in sales and use tax expense, a $0.2 million increase in recruiting expense and a $0.3 million increase in other general and administrative expenses. GAIN ON PATENT SALE Years Ended March 31, 2014...

  • Page 44
    ..., 2014, we had research and development credit carryforwards for federal and state tax reporting purposes of approximately $2.7 million and $4.4 million, respectively. The federal credit carryforwards will begin expiring in 2021 continuing through 2034, while the California credit will carry forward...

  • Page 45
    ... activities for fiscal 2014 provided cash of approximately $125.8 million, net of issuance costs of $0.6 million, related to underwritten registered offering of common stock in which we sold 14,375,000 shares and $5.2 million due to issuance of common stock under our employee stock purchase plan and...

  • Page 46
    ... 1,843 $ 1,093 Capital leases Office leases Purchase obligations Third party customer support provider Third party network service providers Open purchase orders We lease our headquarters facility in San Jose, California under an operating lease agreement that expires in October 2019. The lease is...

  • Page 47
    ... AND SUPPLEMENTARY DATA INDEX TO FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULE Page FINANCIAL STATEMENTS: Report of Independent Registered Public Accounting Firm Consolidated Balance Sheets at March 31, 2014 and 2013 Consolidated Statements of Income for each of the three years in the period...

  • Page 48
    ... in Internal Control - Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission. As discussed in Management's Report on Internal Control Over Financial Reporting, on November 29, 2013, the Company acquired Voicenet Solutions Limited ("Voicenet"). For...

  • Page 49
    ...: Authorized: 5,000,000 shares; Issued and outstanding: no shares at March 31, 2014 and 2013 Common stock, $0.001 par value: Authorized: 200,000,000 shares; Issued and outstanding: 88,525,015 shares and 72,108,980 shares at March 31, 2014 and 2013, respectively Additional paid-in capital Accumulated...

  • Page 50
    8X8, INC. CONSOLIDATED STATEMENTS OF INCOME (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Years Ended March 31, 2014 2013 2012 116,607 $ 94,384 $ 75,951 11,990 9,402 7,421 128,597 103,786 83,372 Service revenue Product revenue Total revenue Operating expenses: Cost of service revenue Cost of product ...

  • Page 51
    ..., 2014 2013 2012 $ 2,514 $ 13,939 $ 69,228 (41) 507 2,980 $ 22 13,961 $ 15 69,243 Net income Other comprehensive income (loss), net of tax Unrealized gain (loss) on investments in securities Foreign currency translation adjustment Comprehensive income $ The accompanying notes are an integral part...

  • Page 52
    ... at March 31, 2011 Issuance of common stock under stock plans Issuance of common stock for acquisition of businesses, net of issuance costs Repurchase of common stock Buyback of employee stock options and stock purchase rights Stock compensation charge Unrealized investment gain Net income Balance...

  • Page 53
    ... Acquisition of businesses, net of cash acquired Proceeds from disposition of discontinued operations, net of transaction costs Net cash used in investing activities Cash flows from financing activities: Capital lease payments Repurchase of common stock Buyback of employee stock options and stock...

  • Page 54
    The accompanying notes are an integral part of these consolidated financial statements. 49

  • Page 55
    ... previously filed with the Securities and Exchange Commission relating to up to $250,000,000 of the Company's securities. A member of the Company's board of directors participated in the offering and purchased 30,000 shares at the public offering price. Acquisition of Voicenet Solutions Limited In...

  • Page 56
    ... of the 8x8 services with the accompanying 8x8 IP telephone constitutes a revenue arrangement with multiple deliverables. For arrangements with multiple deliverables, the Company allocates the arrangement consideration to all units of accounting based on their relative selling prices. In such...

  • Page 57
    ...service by considering multiple factors including, but not limited to: 4 the price list established by its management which is typically based on general pricing...the 8x8 IP telephones and subscriber services based on their relative selling prices. Arrangement consideration allocated to the IP ...

  • Page 58
    ..., 2014 Money market funds Fixed income Mutual funds Commercial paper Corporate debt Municipal securities Asset backed securities International government securities Total available-for-sale investments Reported as (in thousands): Cash and cash equivalents Short-term investments Long-term investments...

  • Page 59
    ... and five years for furniture and fixtures. Amortization of leasehold improvements is computed using the shorter of the remaining facility lease term or the estimated useful life of the improvements. Property and equipment was comprised of the following: March 31, 2014 2013 (in thousands) 9,557...

  • Page 60
    ...net assets acquired in business combinations. The carrying value of goodwill and indefinite lived intangible assets are not amortized, but are annually tested for impairment and more often if there is an indicator of impairment. The Company has two reporting units. As of January 1, 2014, the Company...

  • Page 61
    ... based on total Company results (see Note 7). SUBSCRIBER ACQUISITION COSTS Subscriber acquisition costs are expensed as incurred and include the advertising, marketing, promotions, commissions, rebates and equipment subsidy costs associated with the Company's efforts to acquire new subscribers. 56

  • Page 62
    ...financial position and cash flows. The Company also relies primarily on third party network service providers to provide telephone numbers and PSTN call termination and origination services for its customers. If these service providers failed to perform their obligations to the Company, such failure...

  • Page 63
    ... a group of executives with vesting that is contingent on both market performance and continued service. For the market-based restricted performance stock units issued during the fiscal year ended March 31, 2014: 4 the number of shares of the Company's stock to be received at vesting if applicable...

  • Page 64
    ... as a whole, had a weighted average exercise price of $4.05 per share and range from $2.72 to $5.87 per share, and a weighted average remaining vesting term of 0.5 years. Approximately $1,068,000 of the $7,595,000 of stockbased compensation charge in fiscal year 2014 applied to the options held by...

  • Page 65
    ... average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and employee restricted purchase rights. Years Ended March 31, 2014 2013...

  • Page 66
    ... into an 87-month lease agreement for its new headquarters. Under the terms of the lease agreement: 4 the Company received a...reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting...

  • Page 67
    ... recorded a provision (benefit) for income taxes of $2,219,000, $9,399,000 and ($62,354,000), respectively. The provision for the year ended March 31, 2014 and 2013 was attributable to federal and state current and deferred taxes. For the year ended March 31, 2012, the Company recorded a benefit for...

  • Page 68
    ...62,354) Tax provision at statutory rate State income taxes before valuation allowance, net of federal effect Research and development credits Change in valuation allowance Compensation/option differences Non-deductible compensation Acquisition costs Expiring CA NOLs Foreign loss not benefited Other...

  • Page 69
    ... limitation will not limit utilization of the carryforwards prior to their expiration, with the exception of certain acquired loss and tax credit carryforwards of Contactual, Inc. 3. FAIR VALUE MEASUREMENT Fair value is defined as the price that would be received to sell an asset or paid to transfer...

  • Page 70
    ... on a recurring basis at March 31, 2014 and 2013 (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Cash equivalents: Money market funds Short-term investments: Mutual funds Commercial paper Corporate debt Long-term investments: Corporate debt Municipal securities Asset...

  • Page 71
    ...31, 2014 2013 2012 452 $ 387 $ 362 953 611 496 (745) (546) (471) 660 $ 452 $ 387 Balance at beginning of year Accruals for warranties Payments Balance at end of year Leases $ $ The Company leases its headquarters facility in San Jose, California under an operating lease agreement that expires in...

  • Page 72
    ...Party Network Service Provider Commitments The Company entered into contracts with multiple vendors for third party network service providers which expire on various dates in fiscal 2015 through 2016. At March 31, 2014, future minimum annual payments under these third party network service contracts...

  • Page 73
    ... District of California. An answer to the complaint was filed on April 25, 2014. The Company cannot estimate potential liability in this case at this early stage of the litigation. On March 31, 2014, the Company was named a defendant in a lawsuit, CallWave Communications LLC v. 8x8, Inc. CallWave...

  • Page 74
    ... Plan (the "2003 Contactual Plan") and registered an aggregate of 171,974 shares of the Company's common stock that may be issued upon the exercise of stock options previously granted under the 2003 Contactual Plan and assumed by the Company when it acquired Contactual. No new stock options or other...

  • Page 75
    ... as follows: Weighted Average Purchase Price 6.91 6.91 9.11 9.49 9.61 9.00 Weighted Average Remaining Contractual Term (in Years) Number of Shares Balance at June 22, 2012 Granted Vested Forfeited Balance at March 31, 2013 Granted Vested Forfeited Balance at March 31, 2014 - $ 25,000 25,000 1,291...

  • Page 76
    ... to options outstanding includes 171,974 shares subject to options assumed under the 2003 Contactual Plan. Significant option groups outstanding at March 31, 2014 and related weighted average exercise price and contractual life information for 8x8, Inc.'s stock option plans are as follows: Options...

  • Page 77
    ...,166 shares, respectively, were issued under the Employee Stock Purchase Plan. In May 2006, the Company's board of directors approved a ten-year extension of the Employee Stock Purchase Plan. Stockholders approved a ten-year extension of the Employee Stock Purchase Plan at the 2006 Annual Meeting of...

  • Page 78
    ... a new stock repurchase plan to purchase an additional $10.0 million of its common stock from time to time until October 19, 2011. The stock repurchase plan expired on October 19, 2011. The stock repurchase activity since March 31, 2011 is summarized as follows: Weighted Average Price Per Share 2.26...

  • Page 79
    ... 2013 6,673 6,673 $ 8. ACQUISITION Voicenet Solutions Limited $ On November 11, 2013, the Company entered into a share purchase agreement with the shareholders and optionholders of Voicenet Solutions Limited ("Voicenet"), a provider of cloud communications and collaboration services in the United...

  • Page 80
    ...30, 2013, the Company completed the sale of its dedicated server hosting business to IRC Company, Inc. ("IRC") and, as a result, no longer provides dedicated server hosting services. In the transaction, IRC purchased 100% of the stock of Central Host, Inc., which had been wholly owned by the Company...

  • Page 81
    The dedicated server hosting business has been reported as discontinued operations. The results of operations and financial position of these discontinued operations are as follows: Results of operations: Years Ended March 31, 2014 2013 2012 1,430 $ 3,828 $ 2,431 922 3,005 3,883 508 823 (1,452) 188 ...

  • Page 82
    8X8, INC. CONSOLIDATED QUARTERLY FINANCIAL DATA (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) QUARTER ENDED March 31, Dec. 31, Sept. 30, June 30, March 31, Dec. 31, Sept. 30, June 30, 2014 2013 2013 2013 2013 2012 2012 2012 $ 32,545 $ 29,737 $ 27,826 $ 26,499 $ 25,070 $ 24,023 $ 23,101 $ 22...

  • Page 83
    ... framework in Internal Control - Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission. On November 29, 2013, the Company completed the acquisition of Voicenet Solutions, Ltd ("Voicenet"). As permitted by applicable guidelines established by the...

  • Page 84
    ...website at http://investors.8x8.com. ITEM 11. EXECUTIVE COMPENSATION Information relating to executive compensation will be presented in our definitive proxy statement for our 2014 Annual Meeting of Stockholders to be held on or about July 24, 2014, which information is incorporated into this report...

  • Page 85
    ...Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Jose, State of California, on May 27, 2014. 8X8, INC. By: /s/ VIKRAM VERMA Vikram Verma, Chief Executive Officer...any amendments to this Report on Form 10-K, and to file the same, with ...

  • Page 86
    ...Nel Office Holdings, LLC Acquisition Agreement between 8x8, Inc., Central Host, Inc. and Andrew Schwabecher Employment offer letter agreement between 8x8, Inc. and Debbie Jo Severin dated March 5, 2009 Reserved Annual Executive Incentive Plan. Amended and Restated Contactual, Inc. 2003 Stock Option...

  • Page 87
    ... Extension Presentation Linkbase * Indicates management contract or compensatory plan or arrangement. **Filed herewith. (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) (m) (n) (o) (p) (q) (r) (s) (t) (u) (v) (w) Incorporated by reference to exhibit 3.2 to the Registrant's Report on Form 8-K filed...

  • Page 88

  • Page 89
    EXHIBIT 21.1 SUBSIDIARIES OF REGISTRANT Name Netergy Microelectronics, Inc. Visit, Inc. Contactual, Inc. Zerigo, Inc. Voicenet Solutions Limited 8x8 UK Investments Limited Jurisdiction of Incorporation California, USA California, USA Delaware, USA Colorado, USA United Kingdom United Kingdom

  • Page 90
    ... dated May 27, 2014, relating to the consolidated financial statements of 8x8, Inc., and the effectiveness of internal control over financial reporting of 8x8, Inc., appearing in this Annual Report (Form 10-K) for the year ended March 31, 2014. /s/ Moss Adams LLP San Francisco, California May 27...

  • Page 91
    ...process, summarize and report financial information; and B. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. May 27, 2014 /s/ V IKRAM V ERMA Vikram Verma Chief Executive Officer

  • Page 92

  • Page 93
    ... PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Daniel Weirich, certify that: 1. I have reviewed this annual report on Form 10-K of 8x8, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to...

  • Page 94

  • Page 95
    ... ACT OF 2002 In connection with the Annual Report on Form 10-K of 8x8, Inc. (the "Company") for the year ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Vikram Verma, Chief Executive Officer of the Company, hereby certify, pursuant to...

  • Page 96
    ...-OXLEY ACT OF 2002 In connection with the Annual Report on Form 10-K of 8x8, Inc. (the "Company") for the year ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Daniel Weirich, Chief Financial Officer and Secretary of the Company, hereby...