eGain to Host Analyst/Investor Day on October 11th at its Annual User Group Meeting in Las Vegas
eGain, the leading AI knowledge platform for customer engagement automation, announced financial results for its fiscal 2022 fourth quarter and full year ended June 30, 2022.
“We finished the year strong, delivering top and bottom-line results ahead of our guidance and street consensus,” said Ashu Roy, eGain’s CEO. “Demand for our knowledge powered customer engagement offering is robust and we are well positioned to continue our positive momentum and grow our market share in our new fiscal year. During the year, we generated over $8 million in cash from operations, strengthening our balance sheet while also investing in product, sales and marketing to drive continued revenue growth.”
Fiscal 2022 Fourth Quarter Financial Highlights
- Total revenue was $23.5 million, up 16% year over year (20% in constant currency).
- SaaS revenue was $20.6 million, up 15% year over year (18% in constant currency).
- GAAP net loss was $1.6 million, or $0.05 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 basis and $0.06 per share on a diluted basis, in Q4 2021.
- Non-GAAP net income was $893,000, or $0.03 per share on a basic and diluted basis, compared to non-GAAP net income of $2.5 million, or $0.08 per share on a basic and diluted basis, in Q4 2021.
- Cash provided by operations was $2.3 million, or 10% operating cash flow margin.
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- Total revenue was $92.0 million, up 17% year over year (18% in constant currency).
- SaaS revenue was $80.9 million, up 21% year over year (21% in constant currency).
- GAAP net loss was $2.4 million, or $0.08 per share on a basic and diluted basis, compared to GAAP net income of $7.0 million, or $0.22 per share on a basic basis and $0.21 per share on a diluted basis, in fiscal year 2021.
- Non-GAAP net income was $8.9 million, or $0.28 per share on a basic basis and $0.27 per share on a diluted basis, compared to non-GAAP net income of $8.7 million, or $0.28 per share on a basic basis and $0.27 per share on a diluted basis, in fiscal 2021.
- Cash provided by operations for fiscal 2022 was $8.1 million, or 9% operating cash flow margin.
- Total cash and cash equivalents, as of June 30, 2022, was $72.2 million, up 14% compared to $63.2 million as of June 30, 2021.
Fiscal 2023 First Quarter Financial Guidance
For the first quarter of fiscal 2023 ending September 30, 2022, eGain expects:
- Total revenue of between $24.0 million to $24.5 million, representing growth of 12% to 14% year over year.
- Non-GAAP total revenue, adjusted for constant currency, of between $25.1 million to $25.6 million, representing growth of 17% to 19%.
- GAAP net loss of $2.1 million to $2.3 million, or $0.07 per share.
- Includes stock-based compensation expense of approximately $2.5 million.
- Includes depreciation and amortization of approximately $120,000.
- Non-GAAP net income of $200,000 to $400,000, or $0.01 per share.
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Fiscal 2023 Financial Guidance
For the fiscal 2023 full year ending June 30, 2023, eGain expects:
- Total revenue of between $101.0 million to $103.0 million, representing growth of 10% to 12% year over year.
- Non-GAAP total revenue, adjusted for constant currency, of between $103.2 million to $105.3 million, representing growth of 12% to 15%.
- GAAP net loss of $3.7 million to $4.7 million, or $0.12 to $0.15 per share.
- Includes stock-based compensation expense of approximately $8.5 million.
- Includes depreciation and amortization of approximately $500,000.
- Non-GAAP net income of $3.8 million to $4.8 million, or $0.12 to $0.15 per share.
Guidance Assumption:
- Weighted average shares outstanding are expected to be approximately 31.9 million for the first quarter of fiscal 2023 and 32.0 million for fiscal year 2023.
