eGain Reports Record Revenue in First Quarter of Fiscal 2022, Up 13% Year Over Year, and Raises Full Year Revenue Guidance

About this update from Egain Corporation

[{"type":"text","content":"SUNNYVALE, Calif., Nov. 09, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading cloud platform provider of customer engagement automation, today announced financial results for its fiscal 2022 first quarter ended September 30, 2021. “We are off to a good start to our new fiscal year, delivering record total revenue with double digit growth,” said Ashu Roy, eGain’s CEO. “Market momentum is building nicely around our eGain Knowledge Hub™, a recently launched solution that raises the bar for knowledge-powered automation of customer engagement in the enterprise. With expanding sales coverage, we look forward to continuing our positive momentum and growing market share this fiscal year.” Fiscal 2022 First Quarter Financial Highlights Total revenue was $21.5 million, up 13% year over year.SaaS revenue was $19.2 million, up 20% year over year.Subscription non-GAAP gross margin was 83%.Total non-GAAP gross margin was 78%, up 200 basis points year over year.GAAP net income was $551,000, or $0.02 per share on a diluted basis, compared to GAAP net income of $2.0 million, or $0.06 per share on a diluted basis, in Q1 2021.Non-GAAP net income was $2.7 million, or $0.08 per share on a diluted basis, compared to non-GAAP net income of $2.5 million, or $0.08 per share on a diluted basis, in Q1 2021.Cash provided by operations was $7.2 million, or an operating cash flow margin of 33%, up from 30% in Q1 2021.Total cash and cash equivalents were $70.4 million, compared to $53.1 million in Q1 2021. Fiscal 2022 Second Quarter Financial Guidance For the second quarter of fiscal 2022 ending December 31, 2021, eGain expects: Total revenue of between $21.9 million to $22.3 million, which would represent growth of 14% to 16% year over year.GAAP net loss of $2.9 million to $3.6 million, or $0.09 to $0.11 per share. Includes stock-based compensation expense of approximately $4.0 millionIncludes depreciation and amortization of approximately $120,000 Non-GAAP net income of $300,000 to $1.0 million, or $0.01 to $0.03 per share. Fiscal 2022 Financial Guidance For the fiscal 2022 full year ending June 30, 2022, eGain expects: Total revenue of between $89.0 million to $90.5 million, which would represent growth of 14% to 16% year over year and is an increase from its previous annual revenue guidance of $88.2 million to $89.8 million.GAAP net loss of $12.1 m...

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