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Egain Corp (EGAN) SEC Filing 10-K Annual Report for the fiscal year ending Friday, June 30, 2023

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CIK: 1066194 Ticker: EGAN

Exhibit 99.1

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eGain Reports Fiscal 2023 Fourth Quarter and Full Year Financial Results

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Sunnyvale, CA (September 14, 2023) –

eGain (Nasdaq: EGAN), a leading knowledge platform for customer engagement, today announced financial results for its fiscal 2023 fourth quarter and full year ended June 30, 2023.

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“We finished the year strong, delivering top and bottom-line results ahead of our guidance and street consensus,” said Ashu Roy, eGain’s CEO. “After a tough fiscal 2023 when deals stalled in our pipeline due to the difficult macro environment, we are now seeing many of those deals re-engaging and new RFPs launching with urgency and intent. Generative AI is rejuvenating interest in knowledge management platforms, and this will drive demand for our products in fiscal 2024.”

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Fiscal 2023 Fourth Quarter Financial Highlights

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●Total revenue was $24.6 million, up 5% year over year.
●SaaS revenue was $22.7 million, up 10% year over year.
●GAAP net income was $2.6 million, or $0.08 per share on a basic and diluted basis, compared to a GAAP net loss of $1.6 million, or $0.05 per share on a basic and diluted basis, in Q4 2022.
●Non-GAAP net income was $3.6 million, or $0.11 per share on a basic and diluted basis, compared to non-GAAP net income of $893,000, or $0.03 per share on a basic basis and diluted basis, in Q4 2022.
●Adjusted EBITDA was $4.0 million compared to $857,000 in Q4 2022.
●Total shares purchased through repurchase program was approximately 640,000 at an average cost per share of $7.28, totaling $4.7 million.

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Fiscal 2023 Full Year Financial Highlights

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●Total revenue was $98.0 million, up 7% year over year (up 9% in constant currency).
●SaaS revenue was $89.6 million, up 11% year over year (up 13% in constant currency).
●GAAP net income was $2.1 million, or $0.07 per share on a basic basis and $0.06 on a diluted basis, compared to GAAP net loss of $2.4 million, or $0.08 per share on a basic and diluted basis, in fiscal 2022.
●Non-GAAP net income was $8.4 million, or $0.26 per share on a basic basis and $0.25 per share on a diluted basis, compared to non-GAAP net income of $8.9 million, or $0.28 per share on a basic basis and $0.27 per share on a diluted basis, in fiscal 2022.
●Adjusted EBITDA was $8.9 million compared to $9.9 million in fiscal 2022.
●Cash provided by operations for fiscal 2023 was $4.6 million, or an operating cash flow margin of 5%.
●Total cash and cash equivalents as of June 30, 2023 were $73.2 million, up from $72.2 million as of June 30, 2022.
●Total shares purchased through repurchase program was approximately 786,000 at an average cost per share of $7.33, totaling $5.8 million.

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Fiscal 2024 First Quarter Financial Guidance

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For the first quarter of fiscal 2024 ending September 30, 2023, eGain expects:

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●Total revenue of between $23.5 million to $24.0 million.
●GAAP net income of $500,000 to $1.0 million, or $0.02 to $0.03 per share.
oIncludes stock-based compensation expense of approximately $1.2 million.
oIncludes depreciation and amortization of approximately $120,000.
●Non-GAAP net income of $1.7 million to $2.2 million, or $0.05 to $0.07 per share.

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1

The following information was filed by Egain Corp (EGAN) on Thursday, September 14, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Egain Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Operations (Parenthetical)
Condensed Consolidated Statements Of Stockholders' Equity
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Additional Information (Details)
Balance Sheet Components - Summary Of Accrued Compensation (Detail)
Balance Sheet Components - Summary Of Accrued Liabilities (Detail)
Balance Sheet Components - Summary Of Property Plant Equipment (Detail)
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Commitments And Contingencies - Other Commitments (Detail)
Fair Value Measurement
Fair Value Measurement (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Components Of Income Tax Provision (Detail)
Income Taxes - Income (Loss) Before Income Taxes (Detail)
Income Taxes - Reconciliation Of Federal Statutory Tax Rate To Effective Tax Rate (Detail)
Income Taxes - Uncertain Tax Positions (Detail)
Leases
Leases (Tables)
Leases - Lease Information (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Weighted Average Lease Term And Discount (Details)
Litigation
Quarterly Financial Data
Quarterly Financial Data (Tables)
Quarterly Financial Data - Summary Of Quarterly Results Of Operations And Share Data (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Changes In Contract Liabilities (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Revenue Recognition - Remaining Performance Obligations (Details)
Revenue Recognition - Revenue By Geography (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Detail)
Share Repurchase Program
Share Repurchase Program (Detail)
Stockholders Equity - Authorized Shares (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - 2017 Employee Stock Purchase Plan (Detail)
Stockholders' Equity - Activity Under 2005 Management Stock Option Plan (Detail)
Stockholders' Equity - Activity Under 2005 Stock Incentive Plan (Detail)
Stockholders' Equity - Additional Information (Detail)
Stockholders' Equity - Reserved Shares Of Common Stock For Issuance (Detail)
Stockholders' Equity - Stock Option Valuation Assumptions (Detail)
Stockholders' Equity - Stock-Based Compensation (Details)
Stockholders' Equity - Summary Of Effect Of Stock Based Compensation (Detail)
Stockholders' Equity - Summary Of Option Vested And Exercisable (Detail)
Stockholders' Equity - Summary Of Stock Options Outstanding And Exercisable Under All Stock Option Plans (Detail)
Summary Of Business And Significant Accounting Policies
Summary Of Business And Significant Accounting Policies (Policies)
Summary Of Business And Significant Accounting Policies (Tables)
Summary Of Business And Significant Accounting Policies - (Loss) Earnings Per Common Share (Detail)
Summary Of Business And Significant Accounting Policies - Concentration Of Credit Risk And Accounts Receivable (Details)
Summary Of Business And Significant Accounting Policies - Costs Capitalized To Obtain Revenue Contracts (Details)
Summary Of Business And Significant Accounting Policies - Deferred Financing Costs (Details)
Summary Of Business And Significant Accounting Policies - Foreign Currency (Detail)
Summary Of Business And Significant Accounting Policies - Property, Equipment, And Intangible Assets (Detail)
Summary Of Business And Significant Accounting Policies - Revenue Recognition (Details)
Summary Of Business And Significant Accounting Policies - Segment Information (Details)
Ticker: EGAN
CIK: 1066194
Form Type: 10-K Annual Report
Accession Number: 0001558370-23-015758
Submitted to the SEC: Thu Sep 14 2023 4:36:30 PM EST
Accepted by the SEC: Thu Sep 14 2023
Period: Friday, June 30, 2023
Industry: Prepackaged Software

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