eGain Reports SaaS Revenue Growth of 30% Year over Year in Q1 2020

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[{"type":"text","content":"SUNNYVALE, Calif., Nov. 06, 2019 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), a leading provider of omnichannel customer engagement solutions, today announced financial results for its fiscal 2020 first quarter ended September 30, 2019.\n “We are off to a solid start in the first quarter, with healthy SaaS growth and strong cash flow,” said Ashu Roy, eGain CEO. “As planned, we are ramping our sales investment to drive growth. And with recently launched capabilities for conversational automation, augmented agents, and full-spectrum analytics, we are raising the bar on digital-first, omnichannel customer engagement.” Fiscal 2020 First Quarter Financial Highlights SaaS revenue was $12.4 million, up 30% year over year (33% in constant currency).Subscription revenue, which includes SaaS and legacy revenue, was $15.6 million, up 13% year over year (16% in constant currency) and comprised 91% of total revenue.Total revenue was $17.2 million, up 9% year over year (12% in constant currency).GAAP net income was $1.2 million, or $0.04 per share on a basic and diluted basis, compared to GAAP net income of $604,000, or $0.02 per share on a basic and diluted basis, for Q1 2019.Non-GAAP net income was $1.7 million, or $0.06 per share on a basic and $0.05 per share on a diluted basis, compared to non-GAAP net income of $1.2 million, or $0.04 per share on a basic and diluted basis, for Q1 2019.Cash provided by operations was $2.7 million, compared to cash provided by operations of $3.3 million in Q1 2019. Fiscal 2020 Financial Guidance For the fiscal year ending June 30, 2020, eGain is reiterating its previously provided guidance for full year SaaS revenue of between $53.8 million to $55.4 million (on a constant currency basis), which would represent growth between 20% and 24% year over year, total revenue of $72.0 million to $73.6 million (on a constant currency basis), which would represent growth between 7% and 10% year over year and to generate non-GAAP net income of breakeven to $2.0 million, or $0.00 to $0.06 per diluted share. For the second quarter of fiscal 2020, eGain expects SaaS revenue of $13.3 million to $13.7 million, total revenue of $17.2 million to $17.7 million and to generate non-GAAP net income of $0.2 million to $0.7 million, or $0.01 to $0.02 per diluted share. Non-GAAP Financial Measures This press release includes non-GAAP ...

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