eGain Q3 2024 Earnings Report
Key Takeaways
eGain reported a decrease in total revenue but an increase in GAAP and non-GAAP net income. The company saw growth in new logo acquisition, particularly driven by its AI solution, AssistGPT™. While total revenue fell short of expectations, the company achieved enhanced profitability and solid operating cash flow.
New knowledge customer win momentum continued, including a U.S. megabank.
New logo acquisition has grown 50% year-over-year through the first nine months.
Total revenue was $22.4 million, down 3% year-over-year.
GAAP net income was $1.5 million, or $0.05 per share, compared to a net loss of $372,000, or $0.01 per share in Q3 2023.
eGain
eGain
eGain Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2024, eGain expects total revenue between $21.1 million and $21.4 million, a GAAP net loss between $300,000 and $900,000, and a non-GAAP net income between $200,000 and $800,000.
Positive Outlook
- Total revenue of between $21.1 million to $21.4 million.
- Non-GAAP net income of $200,000 to $800,000, or $0.01 to $0.03 per share.
- Weighted average shares outstanding are expected to be approximately 30.5 million for the fourth quarter of fiscal 2024.
- For the fiscal year 2024, the company expects a total revenue of between $91.5 million to $91.8 million.
- For the fiscal year 2024, the company expects a Non-GAAP net income of $10.0 million to $10.6 million, or $0.32 to $0.34 per share.
Challenges Ahead
- GAAP net loss of $300,000 to $900,000, or $0.01 to $0.03 per share.
- Includes stock-based compensation expense of approximately $1.1 million.
- Includes depreciation and amortization of approximately $100,000.
- For the fiscal year 2024, the company expects a GAAP net income of $5.4 million to $6.0 million, or $0.17 to $0.19 per share.
- Includes stock-based compensation expense of approximately $4.6 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income