eGain Reports Fiscal 2023 Fourth Quarter and Full Year Financial Results

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[{"type":"text","content":"SUNNYVALE, Calif., Sept. 14, 2023 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), a leading knowledge platform for customer engagement, today announced financial results for its fiscal 2023 fourth quarter and full year ended June 30, 2023. “We finished the year strong, delivering top and bottom-line results ahead of our guidance and street consensus,” said Ashu Roy, eGain’s CEO. “After a tough fiscal 2023 when deals stalled in our pipeline due to the difficult macro environment, we are now seeing many of those deals re-engaging and new RFPs launching with urgency and intent. Generative AI is rejuvenating interest in knowledge management platforms, and this will drive demand for our products in fiscal 2024.” Fiscal 2023 Fourth Quarter Financial Highlights Total revenue was $24.6 million, up 5% year over year.SaaS revenue was $22.7 million, up 10% year over year.GAAP net income was $2.6 million, or $0.08 per share on a basic and diluted basis, compared to a GAAP net loss of $1.6 million, or $0.05 per share on a basic and diluted basis, in Q4 2022.Non-GAAP net income was $3.6 million, or $0.11 per share on a basic and diluted basis, compared to non-GAAP net income of $893,000, or $0.03 per share on a basic basis and diluted basis, in Q4 2022.Adjusted EBITDA was $4.0 million compared to $857,000 in Q4 2022.Total shares purchased through repurchase program was approximately 640,000 at an average cost per share of $7.28, totaling $4.7 million. Fiscal 2023 Full Year Financial Highlights Total revenue was $98.0 million, up 7% year over year (up 9% in constant currency).SaaS revenue was $89.6 million, up 11% year over year (up 13% in constant currency).GAAP net income was $2.1 million, or $0.07 per share on a basic basis and $0.06 on a diluted basis, compared to GAAP net loss of $2.4 million, or $0.08 per share on a basic and diluted basis, in fiscal 2022.Non-GAAP net income was $8.4 million, or $0.26 per share on a basic basis and $0.25 per share on a diluted basis, compared to non-GAAP net income of $8.9 million, or $0.28 per share on a basic basis and $0.27 per share on a diluted basis, in fiscal 2022.Adjusted EBITDA was $8.9 million compared to $9.9 million in fiscal 2022.Cash provided by operations for fiscal 2023 was $4.6 million, or an operating cash flow margin of 5%.Total cash and cash equivalents as of June 30, 2023 were $73.2 millio...

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