eGain Reports Record Revenue in Third Quarter of Fiscal 2022, Up 21% Year Over Year

About this update from Egain Corporation

[{"type":"text","content":"SUNNYVALE, Calif., May 05, 2022 (GLOBE NEWSWIRE) -- eGain (Nasdaq: EGAN), the leading AI knowledge platform for customer engagement automation, today announced financial results for its fiscal 2022 third quarter ended March 31, 2022. “We delivered another quarter of record revenue, ahead of our guidance and consensus estimates, demonstrating accelerating revenue growth over the last three quarters,” said Ashu Roy, eGain’s CEO. “We are seeing increased demand for our AI Knowledge solution, and we continue to build out our platform to expand our market coverage.” Fiscal 2022 Third Quarter Financial Highlights Total revenue was $23.9 million, up 21% year over year.SaaS revenue was $20.7 million, up 23% year over year.GAAP net loss was $615,000, or $0.02 per share on a basic and diluted basis, compared to GAAP net income of $1.3 million, or $0.04 per share on a basic and diluted basis, in Q3 2021.Non-GAAP net income was $2.4 million, or $0.08 per share on a basic basis and $0.07 per share on a diluted basis, compared to non-GAAP net income of $1.6 million, or $0.05 per share on a basic and diluted basis, in Q3 2021.Total cash and cash equivalents were $70.5 million, compared to $53.4 million in Q3 2021. Fiscal 2022 First Nine Months Financial Highlights Total revenue was $68.4 million, up 18% year over year.SaaS revenue was $60.3 million, up 23% year over year.GAAP net loss was $890,000, or $0.03 per share on a basic and diluted basis, compared to GAAP net income of $4.9 million, or $0.16 per share on a basic basis and $0.15 per share on a diluted basis, in the first nine months of fiscal 2021.Non-GAAP net income was $8.0 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 $6.2 million, or $0.20 per share on a basic basis and $0.19 per share on a diluted basis, in the first nine months of fiscal 2021.Cash provided from operations was $5.8 million, or an operating cash flow margin of 9%. Fiscal 2022 Fourth Quarter Financial Guidance For the fourth quarter of fiscal 2022 ending June 30, 2022, eGain expects: Total revenue of between $23.1 million to $23.5 million, representing growth of 14% to 16% year over year.Non-GAAP total revenue, adjusted for constant currency, of between $23.6 million to $24.0 million, representing growth of 17% to 19%.GAAP net loss of $3.1 mill...

More updates from Egain Corporation