eGain Reports 34% Growth in SaaS Revenue for Fiscal 2020 Fourth Quarter

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[{"type":"text","content":"SUNNYVALE, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced financial results for its fiscal 2020 fourth quarter and full year ended June 30, 2020.\n “We are pleased to report strong financial performance across the board for our fiscal 2020 fourth quarter and full year,” said Ashu Roy, eGain’s CEO. “While the short-term economic outlook is uncertain, given the COVID-19 pandemic, we are bullish thanks to accelerating demand for digital customer engagement and our product leadership.” Fiscal 2020 Fourth Quarter Financial Highlights SaaS revenue was $15.5 million, up 34% year over year.SaaS and professional services revenue was $17.2 million, up 30% year over year and comprised 91% of total revenue.Total revenue was $19.0 million, up 13% year over year.GAAP net income was $2.2 million, or $0.07 per share on a diluted basis, compared to GAAP net income of $166,000, or $0.01 per share on a diluted basis, for Q4 2019.Non-GAAP net income was $2.7 million, or $0.08 per share on a diluted basis, compared to non-GAAP net income of $659,000, or $0.02 per share on a diluted basis, for Q4 2019.Cash provided by operations was $5.6 million, compared to cash used in operations of $1.0 million in Q4 2019. Fiscal 2020 Full Year Financial Highlights SaaS revenue was $56.8 million, up 27% year over year.SaaS and professional services revenue was $63.4 million, up 22% year over year, and comprised 87% of total revenue.Total revenue was $72.7 million, up 8% year over year.GAAP net income was $7.2 million, or $0.23 per share on a diluted basis, compared to GAAP net income of $4.2 million, or $0.14 per share on a diluted basis, for fiscal 2019.Non-GAAP net income was $9.3 million, or $0.29 per share on a diluted basis, compared to non-GAAP net income of $6.2 million, or $0.21 per share on a diluted basis, for fiscal 2019.Cash provided by operations for the year was $14.1 million, up 100% from cash provided by operations of $7.0 million in fiscal 2019.Total cash and cash equivalents, as of June 30, 2020, was $46.6 million, up 46% compared to $31.9 million as of June 30, 2019. Fiscal 2021 First Quarter Financial Guidance For the first quarter of fiscal 2021 ending September 30, 2020, eGain expects: SaaS revenue of between $15.5 million to $16.0 million, whic...

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