eGain Reports SaaS Revenue Growth of 19% Year Over Year and 13% Sequentially in Fiscal Second Quarter

About this update from Egain Corporation

[{"type":"text","content":"SUNNYVALE, Calif., Feb. 06, 2020 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced financial results for its fiscal 2020 second quarter ended December 31, 2019.\n “We delivered solid financial performance in the second quarter, with top and bottom line results ahead of our guidance and Street consensus,” said Ashu Roy, eGain CEO. “We are excited about our newly announced OEM agreement with Avaya who will sell our cloud-based digital engagement capabilities as part of their Avaya Workspaces for Elite platform.” Fiscal 2020 Second Quarter Financial Highlights SaaS revenue was $14.0 million, up 19% year over year.SaaS and professional services revenue was $15.9 million, up 16% year over year and comprised 87% of total revenue, up from 77% in Q2 2019. Total revenue was $18.2 million, up 3% year over year. Non-GAAP gross margin improved to 72%, up from 69% in Q2 2019.GAAP net income was $2.0 million, or $0.06 per share on a basic and diluted basis, compared to GAAP net income of $2.0 million, or $0.07 per share on a basic and diluted basis, for Q2 2019.Non-GAAP net income was $2.5 million, or $0.08 per share on both a basic and diluted basis, compared to non-GAAP net income of $2.4 million, or $0.09 per share on a basic and $0.08 per share on a diluted basis, for Q2 2019.Cash provided by operations was $5.3 million, compared to cash provided by operations of $863,000 in Q2 2019. Fiscal 2020 Financial Guidance For the fiscal year ending June 30, 2020, eGain Is increasing the bottom end of its previously provided guidance range for full year SaaS revenue from $53.8 million to $54.8 million. The new guidance range for SaaS revenue for the fiscal 2020 full year is between $54.8 million to $55.4 million (on a constant currency basis), which would represent growth between 22% and 24% year over year;Expects SaaS and professional services revenue of between $61.2 million and $62.4 million (on a constant currency basis), which would represent growth of between 18% and 20% year over year;Expects total revenue for the fiscal 2020 full year to be at the lower end of its previously provided guidance of between $72.0 million to $73.6 million (on a constant currency basis), which would represent growth of 7% year over year; and Is raising its previously provided guidance for n...

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