eGain Reports Record Revenue in Second Quarter of Fiscal 2023

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[{"type":"text","content":"SUNNYVALE, Calif., Feb. 14, 2023 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), a leading knowledge platform for customer engagement automation, today announced financial results for its fiscal 2023 second quarter ended December 31, 2022. “We delivered another quarter of record revenue, ahead of our guidance and consensus estimates, and generated over $7 million in cash from operations,” said Ashu Roy, eGain’s CEO. “While sales cycles continue to lengthen in the current environment, market interest in knowledge-powered customer engagement remains high.” “Last week, we announced eGain Instant Answers™, a radically simple experience powered by Generative AI technology for knowledge users. Exciting innovation like this position us well as business conditions improve.” Fiscal 2023 Second Quarter Financial Highlights Total revenue was $25.6 million, up 11% year over year (15% in constant currency).SaaS revenue was $23.4 million, up 15% year over year (18% in constant currency).GAAP net loss was $104,000, or $0.00 per share on a basic and diluted basis, compared to GAAP net loss of $826,000, or $0.03 per share on a basic and diluted basis in Q2 2022.Non-GAAP net income was $1.7 million, or $0.05 per share on a basic and diluted basis, compared to non-GAAP net income of $3.0 million, or $0.10 per share on a basic and $0.09 per share on a diluted basis in Q2 2022.Cash flow from operations was $7.4 million, or 29% operating cash flow margin.Total cash and cash equivalents were $80.9 million, compared to $68.5 million in Q2 2022. Fiscal 2023 First Six Months Financial Highlights Total revenue was $50.4 million, up 13% year over year (17% in constant currency).SaaS revenue was $46.1 million, up 16% year over year (20% in constant currency).GAAP net loss was $120,000, or $0.00 per share on a basic and diluted basis, compared to GAAP net loss of $275,000, or $0.01 per share on a basic and diluted basis in Q2 2022.Non-GAAP net income was $3.7 million, or $0.12 per share on a basic basis and $0.11 per share on a diluted basis, compared to non-GAAP net income of $5.7 million, or $0.18 per share on a basic and $0.17 per share on a diluted basis in Q2 2022.Cash provided from operations was $8.2 million, or an operating cash flow margin of 16%. Fiscal 2023 Third Quarter Financial Guidance For the third quarter of fiscal 2023 ending March 31, 2023, eGai...

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