Business
eGain Reports SaaS Revenue Growth of 26% Year Over Year in Fiscal Third Quarter and Raises SaaS Revenue Guidance for Fiscal 2020
SUNNYVALE, Calif., May 07, 2020 (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., May 07, 2020 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced financial results for its fiscal 2020 third quarter ended March 31, 2020.\n “We delivered strong top and bottom line results ahead of our guidance and Street consensus, with healthy bookings in the quarter,” said Ashu Roy, eGain CEO. “Several deals slipped in March because of COVID-19. Some of them have since closed in April and most others remain engaged. While the short-term outlook is somewhat uncertain and dependent on the broader economy, we remain bullish in the medium-term, thanks to accelerating demand for digital-first customer engagement and our product leadership.” Fiscal 2020 Third Quarter Financial Highlights SaaS revenue was $14.8 million, up 26% year over year.SaaS and professional services revenue was $16.3 million, up 20% year over year and comprised 89% of total revenue, up from 79% in Q3 2019.Total revenue was $18.4 million, up 8% year over year.Non-GAAP gross margin was 71%, compared to 70% in Q3 2019.GAAP net income was $1.9 million, or $0.06 per share, compared to GAAP net income of $1.4 million, or $0.05 per share, for Q3 2019.Non-GAAP net income was $2.4 million, or $0.08 per share on a basic and $0.07 per share on a diluted basis, compared to non-GAAP net income of $2.0 million, or $0.07 per share on a basic and $0.06 per share on a diluted basis, for Q3 2019.Cash provided by operations for the quarter was $415,000 and $8.5 million year-to-date Fiscal 2020 Financial Guidance For the fiscal 2020 full year ending June 30, 2020, eGain is providing updated guidance for: SaaS revenue of between $56.0 million to $56.5 million (on a constant currency basis), which would represent growth between 25% and 26% year over year;SaaS and professional services revenue of between $62.3 million and $63.0 million (on a constant currency basis), which would represent growth of between 20% and 21% year over year;Total revenue for the fiscal 2020 full year of between $71.7 million to $72.4 million (on a constant currency basis), which would represent growth of between 7% and 8% year over year; andNon-GAAP net income of between $6.5 million to $7.5 million, or $0.20 to $0.23 per diluted share. COVID-19 Update Over the last several weeks, eGain has been focused on supporting ...