eGain Reports Fiscal 2023 Third Quarter Financial Results

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[{"type":"text","content":"Q3 Revenue Within and Non-GAAP Net Income Above Guidance Range\nSUNNYVALE, Calif., May 11, 2023 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), a leading knowledge platform for customer engagement, today announced financial results for its fiscal 2023 third quarter ended March 31, 2023. “Our North America renewal and expansion rates remained strong during the quarter,” said Ashu Roy, eGain’s CEO. “Despite the market slowdown, we signed several new customers near the end of the quarter, and expense controls enabled us to deliver bottom-line results that exceeded our guidance and street consensus.” Fiscal 2023 Third Quarter Financial Highlights Total revenue was $23.0 million, down 4% year over year (down 1% in constant currency).SaaS revenue was $20.9 million, up 1% year over year (up 3% in constant currency).GAAP net loss was $372,000, or $0.01 per share on a basic and diluted basis, compared to a GAAP net loss of $615,000, or $0.02 per share on a basic and diluted basis, in Q3 2022.Non-GAAP net income was $1.1 million, or $0.03 per share on a basic and diluted basis, compared to non-GAAP net income of $2.4 million, or $0.08 per share on a basic basis and $0.07 per share on a diluted basis, in Q3 2022.Cash provided by operations was $905,000, or an operating cash flow margin of 4%.Total cash and cash equivalents were $81.3 million, compared to $70.5 million in Q3 2022.Total shares purchased through repurchase program was approximately 145,000 at an average cost per share of $7.57, totaling $1.1 million. Fiscal 2023 First Nine Months Financial Highlights Total revenue was $73.4 million, up 7% year over year (up 11% in constant currency).SaaS revenue was $66.9 million, up 11% year over year (up 14% in constant currency).GAAP net loss was $492,000, or $0.02 per share on a basic and diluted basis, compared to GAAP net loss of $890,000, or $0.03 per share on a basic and diluted basis in Q3 2022.Non-GAAP net income was $4.8 million, or $0.15 per share on a basic and diluted basis, compared to non-GAAP net income of $8.0 million, or $0.26 per share on a basic basis and $0.25 per share on a diluted basis in Q3 2022.Cash provided from operations was $9.1 million, or an operating cash flow margin of 12%. Fiscal 2023 Fourth Quarter Financial Guidance For the fourth quarter of fiscal 2023 ending June 30, 2023, eGain expects: Total revenue of betw...

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