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8X8

EGHT on Nasdaq. 8x8 sells phone and contact center software to businesses. Market value $324m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to March 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
14.8%very high

For every $100 of what the whole company costs, it produced $14.83 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
23.3×full

You pay 23.3 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to March 2026
-1.2%five-year median

Each dollar kept in the business earns -1 cents a year. Above 10 is good.

Quality score: 48 of 100. Price score: 54 of 100. Our list needs 70 on quality and 60 on price.

$2.17 a share, 38% above its 1-year low

Over the past year the price has ranged from $1.57 to $2.88.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
0.1
0.1
0.0
0.0
2022202320242025202612 monthsto Jun '26
Revenue
$638m$744m$729m$715m$736m
Operating margin
-24.2%-8.9%-3.8%2.1%2.6%
Debt to equity
2.45n/a4.022.862.19
Shares outstanding
0.11bn0.12bn0.13bn0.14bn0.14bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)6 of 9
  • Profit backed by cash (accruals)Yes
  • Debt2.19× equity
  • Revenue growth, five yearsSlow, 6.7% a year
  • Buying back its own sharesNo, 28% more shares since 2022

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $190 million last quarter, up 5% on a year ago.
  • A loss of $1 million, compared with a loss of $4 million a year ago.
  • It keeps 3 cents of each $1 of sales as operating profit, up from 2 cents a year earlier.
  • Spare cash over the past 12 months: $46 million, up from $43 million.
  • 5% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $217 million more than cash, down from $254 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$181m
December 2024$179m
March 2025$177m
June 2025$181m
September 2025$184m
December 2025$185m
March 2026$185m
June 2026$190m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$15m
December 2024$3m
March 2025-$5m
June 2025-$4m
September 2025$767,000
December 2025$5m
March 2026$106,000
June 2026-$1m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
22 May 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 174 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • BlackRock, Inc.
    Passive investor
    7.0%
    Since 31 March 2025
  • 5.4%
    Since 31 March 2026
  • SYLEBRA CAPITAL LLC
    Passive investor
    at least 4.8%−1.2 pts
    (filed with 3 related holders)
    Since 16 April 2026
    What they said

    N/A as this was a disposal of securities. The Reporting Persons previously filed a Schedule 13D to report beneficial ownership of the Issuer's Common Stock, reflecting an initial intent to potentially influence the Issuer's management or policies. Subsequently, the Reporting…

    Read the filing
  • Boston Partners
    Passive investor
    Sold down below 5%
    Since 31 March 2026
  • Sold down below 5%
    Since 30 September 2025
  • Sold down below 5%
    Since 30 June 2025
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 5 sold $562,711, $446,493 of it under preset trading plans.

  • Denny Laurence
    Chief Legal Officer
    Sold
    under a preset trading plan
    Date
    11 September 2026
    Shares
    9,433
    Price
    $1.82
    Value
    $17,142
  • Burton Andrew F.
    Director
    Sold
    under a preset trading plan
    Date
    11 September 2026
    Shares
    107,085
    Price
    $1.81
    Value
    $194,241
  • Kraus Kevin
    Chief Financial Officer
    Sold
    Date
    7 August 2026
    Shares
    34,329
    Price
    $2.32
    Value
    $79,643
  • Theophille Elizabeth Harriet
    Director
    Sold
    Date
    27 July 2026
    Shares
    20,207
    Price
    $1.81
    Value
    $36,575
  • Denny Laurence
    Chief Legal Officer
    Sold
    under a preset trading plan
    Date
    17 February 2026
    Shares
    5,000
    Price
    $2.55
    Value
    $12,750
  • Middleton Hunter
    Chief Product Officer
    Sold
    under a preset trading plan
    Date
    4 February 2026
    Shares
    85,044
    Price
    $2.50
    Value
    $212,610
  • Denny Laurence
    Chief Legal Officer
    Sold
    under a preset trading plan
    Date
    1 December 2025
    Shares
    5,000
    Price
    $1.95
    Value
    $9,750

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 22 May 2026, plus the 10-Q filed 5 Aug 2026 and 5 later 8-Ks.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On and effective as of June 2, 2025 , the Audit Committee (the “Committee”) of the Board of Directors of 8x8, Inc. (the “Company”) dismissed Moss Adams LLP (“Moss Adams”) as the Company’s independent registered public accounting firm and appointed Grant Thornton LLP (“Grant Thornton”) as the Company’s independent registered public accounting firm, effective the same date.”

    From an 8-K filed 5 June 2025: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 2.2× its equity.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.