eGain Announces Fourth Quarter and Fiscal Year 2024 Financial Results; AI Knowledge Fuels New Logo Momentum

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[{"type":"text","content":"SUNNYVALE, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), an AI Knowledge platform for service, today announced financial results for its fiscal 2024 fourth quarter and full fiscal year ended June 30, 2024. “As businesses invest in Gen AI at scale, our AI Knowledge Hub helps deliver trusted answers for customer service, reducing cost and improving experience,” said Ashu Roy, eGain’s CEO. “As a result, new logo wins and RFPs for AI Knowledge were up 50 percent in fiscal 2024, and we are investing into this growing market opportunity for AI Knowledge.” Fiscal 2024 Fourth Quarter Financial Highlights Total revenue was $22.5 million, down 9% year over year.GAAP net income was $1.5 million, or $0.05 per share on a basic and diluted basis, compared to a GAAP net income of $2.6 million, or $0.08 per share on a basic and diluted basis, in Q4 2023.Non-GAAP net income was $2.5 million, or $0.08 per share on a basic and diluted basis, compared to non-GAAP net income of $3.6 million, or $0.11 per share on a basic and diluted basis, in Q4 2023.Adjusted EBITDA was $2.4 million compared to $4.0 million in Q4 2023.Total shares purchased through our repurchase program was approximately 1,397,000 at an average cost per share of $6.25 totaling $8.7 million. Fiscal 2024 Full Year Financial Highlights Total revenue was $92.8 million, down 5% year over year.GAAP net income was $7.8 million, or $0.25 per share on a basic and diluted basis, compared to GAAP net income of $2.1 million, or $0.07 per share on a basic basis and $0.06 per share on a diluted basis, in fiscal 2023.Non-GAAP net income was $12.3 million, or $0.40 per share on a basic basis and $0.39 per share on a diluted basis, compared to non-GAAP net income of $8.4 million, or $0.26 per share on a basic and $0.25 per share on a diluted basis, in fiscal 2023.Adjusted EBITDA was $11.2 million compared to $8.9 million in fiscal 2023.Cash provided by operations for fiscal 2024 was $12.5 million, or an operating cash flow margin of 13%.Total cash and cash equivalents as of June 30, 2024 were $70.0 million, compared to $73.2 million as of June 30, 2023.Total shares purchased through our repurchase program was approximately 2,752,000 at an average cost per share of $6.28 totaling $17.3 million. Fiscal 2025 First Quarter and Fiscal 2025 Financial Guidance For the first quarter of f...

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