Business
eGain Reports SaaS Revenue Growth of 21% for First Six Months of Fiscal 2021
SUNNYVALE, Calif., Feb. 10, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced
About this update from Egain Corporation
[{"type":"text","content":"SUNNYVALE, Calif., Feb. 10, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced financial results for its fiscal 2021 second quarter ended December 31, 2020. “We delivered solid results in the quarter, with healthy SaaS revenue growth and expanding gross margins,” said Ashu Roy, eGain’s CEO. “Our SaaS logo wins are up again 100% year over year for the second quarter in a row. We continue to win new logos with our partner Cisco and during the quarter we added our first Avaya CcaaS customers. Our recently launched SmartIVR™ capability is generating strong market interest, enabling enterprises to quickly shift from voice to digital to cater to customer preference, while driving self-service automation. Our investments in sales and marketing are starting to pay off with the doubling of our sales pipeline, year over year, and we look forward to accelerated SaaS revenue growth in the quarters to come.” Fiscal 2021 Second Quarter Financial Highlights SaaS revenue was $16.2 million, up 15% year over year.Total revenue was $19.2 million, up 6% year over year.Subscription gross margin was 82%, up 400 basis points year over year.Total gross margin was 76%, up 500 basis points year over year.GAAP net income was $1.6 million, or $0.05 per diluted share, compared to GAAP net income of $2.0 million, or $0.06 per diluted share, in the year ago quarter.Non-GAAP net income was $2.0 million, or $0.06 per diluted share, compared to non-GAAP net income of $2.5 million, or $0.08 per diluted share, in the year ago quarter.Total cash and cash equivalents were $54.2 million, compared to $40.3 million, in the year ago quarter. Fiscal 2021 First Six Months Financial Highlights SaaS revenue was $32.1 million, up 21% year over year.Total revenue was $38.3 million, up 8% year over year.Subscription gross margin was 82%, up 500 basis points year over year.Total gross margin was 76%, up 600 basis points year over year.GAAP net income was $3.7 million, or $0.11 per diluted share, compared to GAAP net income of $3.2 million, or $0.10 per diluted share, in the year ago quarter.Non-GAAP net income was $4.6 million, or $0.14 per diluted share, compared to non-GAAP net income of $4.3 million, or $0.13 per diluted share, in the year ago quarter.Cash provided by operations was $5.9 million, or...