Business
eGain Reports SaaS Revenue Growth of 19% for First Nine Months of Fiscal 2021
SUNNYVALE, Calif., May 11, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of digital customer engagement solutions, today announced
About this update from Egain Corporation
[{"type":"text","content":"SUNNYVALE, Calif., May 11, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of digital customer engagement solutions, today announced financial results for its fiscal 2021 third quarter ended March 31, 2021. “We delivered strong financial results in the third quarter, ahead of guidance and street consensus” said Ashu Roy, eGain’s CEO. “Our SaaS logo wins were up more than 100% year over year for both the third quarter and year to date. We grew the number of our million-dollar SaaS customers by 63% year over year. In March, we launched our Virtual Financial Coach, an AI-powered proactive engagement solution. It is now being piloted by over 25 credit unions across the country.” Fiscal 2021 Third Quarter Financial Highlights SaaS revenue was $16.9 million, up 14% year over year.Total revenue was $19.7 million, up 8% year over year.Subscription non-GAAP gross margin was 82%, up 400 basis points year over year.Total non-GAAP gross margin was 76%, up 500 basis points year over year.GAAP net income was $1.3 million, or $0.04 per diluted share, compared to GAAP net income of $1.9 million, or $0.06 per diluted share, in the year ago quarter.Non-GAAP net income was $1.6 million, or $0.05 per diluted share, compared to non-GAAP net income of $2.4 million, or $0.07 per diluted share, in the year ago quarter.Total cash and cash equivalents were $53.4 million, compared to $40.7 million, in the year ago quarter. Fiscal 2021 First Nine Months Financial Highlights SaaS revenue was $49.0 million, up 19% year over year.Total revenue was $58.0 million, up 8% year over year, with 92% being subscription based.Subscription non-GAAP gross margin was 82%, up 400 basis points year over year.Total non-GAAP gross margin was 76%, up 500 basis points year over year.GAAP net income was $4.9 million, or $0.15 per diluted share, compared to GAAP net income of $5.1 million, or $0.16 per diluted share, in the year ago quarter.Non-GAAP net income was $6.2 million, or $0.19 per diluted share, compared to non-GAAP net income of $6.7 million, or $0.21 per diluted share, in the year ago quarter.Cash provided by operations was $5.0 million, or 9% operating cash flow margin. Fiscal 2021 Financial Guidance For the fiscal 2021 full year ending June 30, 2021, eGain expects: SaaS revenue of between $66.0 million to $66.4 million, which would represent growt...