eGain Expects Fiscal 2021 Revenue and Earnings to Exceed Guidance
eGain, a leading provider of omnichannel customer engagement solutions, today announced that it expects revenue and earnings for its fiscal 2021 full year ended June 30, 2021 to be at or above the high end of its previously provided guidance range.
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“We had a strong finish to the year, delivering solid SaaS revenue growth year over year,” said Ashu Roy, eGain’s CEO. “Our focus on new logo acquisition yielded positive results, with new SaaS logo wins up more than 100% year over year. We also expect to report solid cash flow from operations, ending the fiscal year with approximately $63 million in cash and no debt. We look forward to continuing this positive momentum into Fiscal 2022.”
Fiscal 2021 Full Year Preliminary Financial Results
- SaaS revenue is expected to be at or above the high end of the Company’s previously provided guidance of between $66.0 million to $66.4 million, up at least 17% year over year.
- Total revenue is expected to be at or above the high end of the previous guidance of between $77.3 million to $77.9 million, up at least 7% year over year.
- GAAP net income is expected to be above the high end of previous guidance of between $4.4 million to $5.3 million, or $0.13 to $0.16 per share.
- Non-GAAP net income is expected to be above the high end of previous guidance of between $6.2 million to $7.1 million, or $0.19 to $0.22 per share.
This release is based on preliminary information and is subject to change. The Company will release its final financial results for its fiscal 2021 fourth quarter and full year ended June 30, 2021 and host a conference call and webcast after market close on September 1, 2021. The time and access details for the conference call and webcast will be provided in advance of this date.
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Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures as supplemental information relating to our operating results, including non-GAAP net income. Such non-GAAP financial measures are adjusted for stock-based compensation expense and amortization of acquired intangible assets. Non-GAAP results are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies. eGain’s management uses these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. eGain believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other software companies, many of which present similar non-GAAP financial measures to investors, and that it allows for greater transparency with respect to key metrics used by management in its financial and operational decision-making. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures will be included in the final financial results earnings press release. eGain urges investors to review the reconciliation and not to rely on any single financial measure to evaluate the Company’s business.
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