Annual Report Fiscal 2020 Dear 8x8 Shareholders, I am writing to you about our company’s achievements and experiences over the last year, but the starting point has to be that, in early 2020, the world began to truly embrace what we at 8x8 have been planning for and enabling over the last 30+ years. Since the invention of the telegraph revolutionized long-distance communication in the 1830s and 1840s, human beings have applied their creativity to improving peoples’ ability to interact with each other without being in the same physical location. We recognized that advancing digital capabilities have the potential to enable great leaps forward in this progression. Just as importantly, we have worked to turn this potential into a real-world, seamless, affordable, dependable, and valuable set of services. The COVID-19 pandemic has drawn incredible attention and new urgency to these advances. The world’s ever-growing population means we simply must plan on the risks of pathogens spreading rapidly and globally more regularly. This risk puts a premium on every businesses’ ability to function without in-person events that increasingly put lives at risk. Our unified, cloud-based voice, video, chat, contact-center, and enterprise-class API solutions enable work-from- anywhere and work-from-any device. We are therefore pleased, both as global citizens and as executives of 8x8, that the services we provide are at the top of CIOs buying agendas. These purchases are predicted to increase demand in our sector by double-digit growth annually.1 We accomplished a lot in our fiscal 2020. Here are some of our achievements and milestones: ● Our service revenue increased 27% year-over-year to $414.1M. Service revenue from mid-market and enterprise customers represented 43% of our total service revenue and grew 51% over the prior year. ● Our Jitsi open source video meetings platform and 8x8 Video Meetings offering surpassed 20 million monthly active users globally in May 2020. ● We extended our cloud technology platform with the acquisition of Wavecell, a global provider of communications platform-as-a-service ("CPaaS"), that enables businesses to directly integrate our platform services within their websites, mobile apps, and business systems. ● We launched 8x8 Express, our self-service eCommerce offering in the U.S. and UK. ● We expanded our go-to-market reach with the channel community including partnering with value-added resellers (VARs) throughout the U.S. and Europe. ● We were named a Leader in the 2019 Gartner Magic Quadrant for Unified Communications as a Service (UCaaS), Worldwide for the eighth consecutive year and a Challenger in Magic Quadrant for Contact Center as a Service 2 (CCaaS), North America for the fifth consecutive year. 1 Worldwide Unified Communications and Collaboration Forecast, 2019-2023 (IDC #US45097919, May 2019). 2 Gartner “Magic Quadrant for Unified Communications as a Service, Worldwide” Daniel O'Connell, Megan Fernandez, Rafael Benitez, Christopher Trueman, Sebastian Hernandez, July 30, 2019. Gartner “Magic Quadrant for Contact Center as a Service, North America” Drew Kraus, Steve Blood, Simon Harrison, October 15, 2019. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. ● We received the 2019 CRN Tech Innovator Award by CRN, a brand of The Channel Company, for our 8x8 Contact Center. ● We received the 2019 Unified Communications Excellence Award by CUSTOMER Magazine for our 8x8 Contact Center. ● We received the 2019 Customer Experience Innovation Award by Internet Telephony Magazine. ● We were awarded 41 new U.S. patents in fiscal 2020. Our exceptional management team drove these accomplishments. We believe that the caliber of our team differentiates us from others. I consider myself fortunate to work with: • a Chief Product Officer who has worked at fast-growing innovative SaaS companies; • a recently appointed Chief Financial Officer with both strong Wall Street and operational experience; • a Chief Marketing Officer who brings large and midsize enterprise software experience to the team; • a General Counsel and Chief Privacy Officer with strong communications sector expertise including at TiVo; and • a Chief People Officer with growth company and compensation expertise. We as a team are fortunate to be overseen by a board of directors whose eight members include: • three who represent racial or ethnic minorities; • two who are women; • two who represent the customer purchasing perspective; • four who are leading technologists; and • two who are career investors who bring the shareholder perspective into the boardroom. Our diverse board and corporate governance receive high ratings from the leading governance scorecards. Institutional Shareholder Services (ISS) gives us a two-rating score (with a one representing the best) for governance and MSCI calls out our governance as comprising a top quartile set of practices. Although this letter is inherently backward looking since it accompanies our report on the prior year’s results, I hope you can see from our fiscal year 2020 accomplishments, including the accretive Wavecell acquisition, as well as from the caliber of our people and our exceptionally strong governance scores that we are relentlessly building and progressing for the future. We, for one, did not need the pandemic to see the strength of global digital communications tailwinds. Thank you for enabling us with your investments—we work every day to earn the trust they imply, including via our personal actions. I have personally invested significant amounts of my own money in 8x8 equity. I am also humbled and honored that nearly half of our employees, when given the opportunity to receive a larger percentage of their compensation in our equity, took it. Actions speak louder than words. Stay safe. Stay healthy. Thank you. Vikram Verma Chief Executive Officer UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ For the fiscal year ended March 31, 2020 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 000-21783 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 including Zip Code) (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 $.001 PER SHARE EGHT New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ 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 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 Act). Yes ☐ No ☒ The aggregate market value of voting stock held by non-affiliates of the Registrant on September 30, 2019, based on the closing price of $20.72 for shares of the Registrant’s common stock as reported by the New York Stock Exchange, was approximately $1.6 billion. Shares of common stock held by each executive officer, director, and their affiliated holders have been excluded in that such persons may be deemed to be affiliates. The determination of affiliate status for this purpose is not necessarily a conclusive determination for any other purpose. The number of shares of the Registrant's common stock outstanding as of May 15, 2020 was 103,642,454. DOCUMENTS INCORPORATED BY REFERENCE Items 10, 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, 2020 for the 2020 Annual Meeting of Stockholders.