eGain (Nasdaq: EGAN), the leading AI knowledge platform for
customer engagement automation, today 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.
Fiscal 2022 Full Year Financial Highlights
- 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.
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.
Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures
as supplemental information relating to our operating results,
including non-GAAP total revenue that is only adjusted for constant
currency to provide better visibility into the underlying business
trends and non-GAAP net income. The non-GAAP net income measures
are adjusted for stock-based compensation expense and amortization
of acquired intangible assets. eGain’s management has analyzed the
effect of these non-GAAP adjustments on our income tax provision
and believes the change in our income tax provision would be
minimal due to these non-GAAP adjustments being attributed to the
U.S. jurisdiction where it has recorded full valuation allowance
against the deferred taxes. 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, or GAAP,
and may be different from non-GAAP measures used by other
companies. eGain’s management uses these non-GAAP measures to
compare our 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 our 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 our
financial and operational decision-making. Reconciliation tables of
the most comparable GAAP financial measures to the non-GAAP
financial measures used in this press release are included with the
financial tables at the end of this release. eGain urges investors
to review the reconciliation and not to rely on any single
financial measure to evaluate our business.
Conference Call Information
eGain will discuss its fiscal 2022 fourth quarter and full year
results today via teleconference at 2:00 p.m. Pacific Time. To
access the live call, dial 877-270-2148 (U.S. toll free) or +1
412-902-6510 (International) and ask to join the eGain earnings
call. A live and archived webcast of the call will also be
accessible on the “Investor relations” section of our website at
www.egain.com. In addition, a phone replay of the conference call
will be available starting two hours after the call and remain in
effect for one week. To access the phone replay, dial 877-344-7529
(U.S. toll free) or 412-317-0088 (International). The replay access
code is 2970911.
Analyst/Investor Day
eGain will host an analyst/investor day event on October 11th at
its annual user group meeting, eGain Solve 22, in Las Vegas. To
learn more about this event and to register visit:
https://www.egain.com/solve/#agenda
About eGain
Infused with AI, our knowledge-powered software automates
digital-first experiences for enterprises and government agencies.
Pre-connected with leading CRM and contact center systems, the
eGain platform delivers quick value and easy innovation with
virtual assistance, customer self-service, and modern agent desktop
tools. Visit www.egain.com for more information.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, including without
limitation our financial guidance for the first quarter of fiscal
2023 ending September 30, 2022 and fiscal 2023 full year ending
June 30, 2023; our market opportunity; and expectations regarding
our growth prospects for fiscal 2023 year ending June 30, 2023. The
achievement or success of the matters covered by such
forward-looking statements, including future financial guidance,
involves risks, uncertainties and assumptions, many of which
involve factors or circumstances that are beyond our control. If
any such risks or uncertainties materialize or if any of the
assumptions prove incorrect, our actual results could differ
materially from the results expressed or implied by the
forward-looking statements we make, including our ability to
achieve our targets for the first quarter of fiscal 2023 and fiscal
2023 year ending June 30, 2023. The risks and uncertainties
referred to above include, but are not limited to: risks to our
business, operating results, financial condition, and prospects
from the COVID-19 pandemic and related economic downturns,
including but not limited to, its effect on customer demand for our
products and services and the impact of potential delays in
customer payments; risks associated with new product releases and
new services and products features; risks that customer demand may
fluctuate or decrease; risks that we are unable to collect unbilled
contractual commitments, particularly in the current economic
environment; risks that our lengthy sales cycles may negatively
affect our operating results; currency risks; our ability to
capitalize on customer engagement; risks related to our reliance on
a relatively small number of customers for a substantial portion of
our revenue; our ability to compete successfully and manage growth;
our ability to develop and expand strategic and third party
distribution channels; risks related to our international
operations; our ability to continue to innovate; our strategy of
making investments in sales to drive growth; general political or
destabilizing events, including war, intensified international
hostilities, conflict or acts of terrorism; the effect of
legislative initiatives or proposals, statutory changes,
governmental or other applicable regulations and/or changes in
industry requirements, including those addressing data privacy,
cyber-security and cross-border data transfers; and other risks
detailed from time to time in eGain’s public filings, including
eGain’s annual report on Form 10-K filed on September 10, 2021 and
subsequent reports filed with the Securities and Exchange
Commission, which are available on the Securities and Exchange
Commission’s web site at www.sec.gov. These forward-looking
statements are based on current expectations and speak only as of
the date hereof. We assume no obligation and do not intend to
update these forward-looking statements, except as required by
law.
eGain, the eGain logo, and all other eGain product names and
slogans are trademarks or registered trademarks of eGain
Corporation in the United States and/or other countries. All other
company names and products mentioned in this release may be
trademarks or registered trademarks of the respective
companies.
MKR Investor RelationsTodd Kehrli or Jim
ByersPhone: 323-468-2300Email: egan@mkr-group.com
eGain
CorporationCondensed Consolidated Balance
Sheets(in
thousands)(unaudited)
|
|
June 30, |
|
June 30, |
|
|
2022 |
|
|
2021 |
|
ASSETS |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
72,173 |
|
|
$ |
63,231 |
|
Restricted cash |
|
|
7 |
|
|
|
7 |
|
Accounts receivable, less allowance for doubtful accounts of $123
and $434 as of June 30, 2022 and 2021, respectively |
|
|
26,961 |
|
|
|
26,311 |
|
Costs capitalized to obtain revenue contracts, net |
|
|
1,487 |
|
|
|
1,323 |
|
Prepaid expenses |
|
|
2,612 |
|
|
|
3,028 |
|
Other current assets |
|
|
895 |
|
|
|
778 |
|
Total current assets |
|
|
104,135 |
|
|
|
94,678 |
|
Property and equipment,
net |
|
|
831 |
|
|
|
705 |
|
Operating lease right-of-use
assets |
|
|
3,850 |
|
|
|
2,191 |
|
Costs capitalized to obtain
revenue contracts, net of current portion |
|
|
3,136 |
|
|
|
2,612 |
|
Goodwill |
|
|
13,186 |
|
|
|
13,186 |
|
Other assets, net |
|
|
871 |
|
|
|
1,191 |
|
Total assets |
|
$ |
126,009 |
|
|
$ |
114,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
1,706 |
|
|
$ |
3,068 |
|
Accrued compensation |
|
|
8,708 |
|
|
|
8,444 |
|
Accrued liabilities |
|
|
4,926 |
|
|
|
4,352 |
|
Operating lease liabilities |
|
|
1,044 |
|
|
|
1,466 |
|
Deferred revenue |
|
|
45,638 |
|
|
|
46,211 |
|
Total current liabilities |
|
|
62,022 |
|
|
|
63,541 |
|
Deferred revenue, net of
current portion |
|
|
3,785 |
|
|
|
3,332 |
|
Operating lease liabilities,
net of current portion |
|
|
2,537 |
|
|
|
797 |
|
Other long-term
liabilities |
|
|
808 |
|
|
|
832 |
|
Total liabilities |
|
|
69,152 |
|
|
|
68,502 |
|
Stockholders’ equity: |
|
|
|
|
|
|
Common stock, $0.001 par value – authorized: 60,000 and 50,000
shares; outstanding: 31,930 and 31,231 shares as of June 30,
2022 and 2021, respectively |
|
|
32 |
|
|
|
31 |
|
Additional paid-in capital |
|
|
393,157 |
|
|
|
378,451 |
|
Notes receivable from stockholders |
|
|
(95 |
) |
|
|
(92 |
) |
Accumulated other comprehensive loss |
|
|
(2,687 |
) |
|
|
(1,220 |
) |
Accumulated deficit |
|
|
(333,550 |
) |
|
|
(331,109 |
) |
Total stockholders’ equity |
|
|
56,857 |
|
|
|
46,061 |
|
Total liabilities and stockholders’ equity |
|
$ |
126,009 |
|
|
$ |
114,563 |
|
|
|
|
|
|
|
|
eGain
CorporationCondensed Consolidated Statements of
Operations(in thousands, except per share
data)(unaudited)
|
|
Three Months Ended |
|
Year Ended |
|
|
June 30, |
|
June 30, |
|
|
2022 |
|
|
2021 |
|
2022 |
|
|
2021 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Subscription |
|
$ |
21,378 |
|
|
$ |
18,846 |
|
$ |
84,557 |
|
|
$ |
72,371 |
|
Professional services |
|
|
2,126 |
|
|
|
1,402 |
|
|
7,394 |
|
|
|
5,916 |
|
Total revenue |
|
|
23,504 |
|
|
|
20,248 |
|
|
91,951 |
|
|
|
78,287 |
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of subscription |
|
|
3,969 |
|
|
|
3,696 |
|
|
14,780 |
|
|
|
13,507 |
|
Cost of professional services |
|
|
2,632 |
|
|
|
1,383 |
|
|
9,757 |
|
|
|
5,760 |
|
Total cost of revenue |
|
|
6,601 |
|
|
|
5,079 |
|
|
24,537 |
|
|
|
19,267 |
|
Gross profit |
|
|
16,903 |
|
|
|
15,169 |
|
|
67,414 |
|
|
|
59,020 |
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
6,399 |
|
|
|
4,549 |
|
|
24,387 |
|
|
|
17,933 |
|
Sales and marketing |
|
|
9,494 |
|
|
|
7,176 |
|
|
33,746 |
|
|
|
25,999 |
|
General and administrative |
|
|
2,732 |
|
|
|
1,930 |
|
|
11,419 |
|
|
|
7,749 |
|
Total operating expenses |
|
|
18,625 |
|
|
|
13,655 |
|
|
69,552 |
|
|
|
51,681 |
|
(Loss) Income from
operations |
|
|
(1,722 |
) |
|
|
1,514 |
|
|
(2,138 |
) |
|
|
7,339 |
|
Interest income |
|
|
87 |
|
|
|
2 |
|
|
94 |
|
|
|
13 |
|
Other income (expense),
net |
|
|
656 |
|
|
|
144 |
|
|
838 |
|
|
|
(559 |
) |
(Loss) Income before income
tax provision |
|
|
(979 |
) |
|
|
1,660 |
|
|
(1,206 |
) |
|
|
6,793 |
|
Income tax (provision)
benefit |
|
|
(572 |
) |
|
|
388 |
|
|
(1,235 |
) |
|
|
166 |
|
Net (loss) income |
|
$ |
(1,551 |
) |
|
$ |
2,048 |
|
$ |
(2,441 |
) |
|
$ |
6,959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per share
information: |
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Earnings per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
(0.05 |
) |
|
$ |
0.07 |
|
$ |
(0.08 |
) |
|
$ |
0.22 |
|
Diluted |
|
$ |
(0.05 |
) |
|
$ |
0.06 |
|
$ |
(0.08 |
) |
|
$ |
0.21 |
|
Weighted-average shares used
in computation: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
31,861 |
|
|
|
31,144 |
|
|
31,553 |
|
|
|
31,007 |
|
Diluted |
|
|
31,861 |
|
|
|
32,561 |
|
|
31,553 |
|
|
|
32,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of stock-based
compensation included in the costs and expenses above: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
$ |
707 |
|
|
$ |
83 |
|
$ |
3,056 |
|
|
$ |
326 |
|
Research and development |
|
|
625 |
|
|
|
115 |
|
|
2,935 |
|
|
|
509 |
|
Sales and marketing |
|
|
527 |
|
|
|
182 |
|
|
2,367 |
|
|
|
657 |
|
General and administrative |
|
|
585 |
|
|
|
56 |
|
|
3,022 |
|
|
|
208 |
|
Total stock-based compensation |
|
$ |
2,444 |
|
|
$ |
436 |
|
$ |
11,380 |
|
|
$ |
1,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of amortization of
purchased intangibles from business combinations in the costs and
expenses above: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
26 |
|
Total amortization of intangible assets |
|
$ |
— |
|
|
$ |
— |
|
$ |
— |
|
|
$ |
26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
eGain CorporationGAAP to
Non-GAAP Reconciliation Table(in thousands, except
per share data)(unaudited)
|
|
Three Months Ended |
|
Year Ended |
|
|
June 30, |
|
June 30, |
|
|
2022 |
|
|
2021 |
|
2022 |
|
|
2021 |
(Loss) Income from operations |
|
$ |
(1,722 |
) |
|
$ |
1,514 |
|
$ |
(2,138 |
) |
|
$ |
7,339 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
2,444 |
|
|
|
436 |
|
|
11,380 |
|
|
|
1,700 |
Amortization of intangible assets |
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
26 |
Non-GAAP income from
operations |
|
$ |
722 |
|
|
$ |
1,950 |
|
$ |
9,242 |
|
|
$ |
9,065 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Year Ended |
|
|
June 30, |
|
June 30, |
|
|
2022 |
|
|
2021 |
|
2022 |
|
|
2021 |
Net (loss) income |
|
$ |
(1,551 |
) |
|
$ |
2,048 |
|
$ |
(2,441 |
) |
|
$ |
6,959 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
2,444 |
|
|
|
436 |
|
|
11,380 |
|
|
|
1,700 |
Amortization of intangible assets |
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
26 |
Non-GAAP net income |
|
$ |
893 |
|
|
$ |
2,484 |
|
$ |
8,939 |
|
|
$ |
8,685 |
Per share
information: |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.03 |
|
|
$ |
0.08 |
|
$ |
0.28 |
|
|
$ |
0.28 |
Diluted |
|
$ |
0.03 |
|
|
$ |
0.08 |
|
$ |
0.27 |
|
|
$ |
0.27 |
Weighted-average shares used
in computation: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
31,861 |
|
|
|
31,144 |
|
|
31,553 |
|
|
|
31,007 |
Diluted |
|
|
32,906 |
|
|
|
32,561 |
|
|
32,803 |
|
|
|
32,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
eGain CorporationOther
GAAP to Non-GAAP Supplemental Financial
Information(in
thousands)(unaudited)
|
|
Three Months EndedJune 30, |
|
Growth Rates |
|
Constant Currency Growth Rates [1] |
|
|
2022 |
|
|
2021 |
|
|
|
|
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
SaaS revenue |
|
$ |
20,573 |
|
|
$ |
17,906 |
|
|
15% |
|
18% |
Legacy revenue |
|
|
805 |
|
|
|
940 |
|
|
(14%) |
|
(10%) |
GAAP subscription |
|
|
21,378 |
|
|
|
18,846 |
|
|
13% |
|
17% |
GAAP professional services |
|
|
2,126 |
|
|
|
1,402 |
|
|
52% |
|
56% |
Total GAAP revenue |
|
$ |
23,504 |
|
|
$ |
20,248 |
|
|
16% |
|
20% |
|
|
|
|
|
|
|
|
|
|
|
SaaS and professional
services revenue: |
|
|
|
|
|
|
|
|
|
|
SaaS revenue |
|
$ |
20,573 |
|
|
$ |
17,906 |
|
|
15% |
|
18% |
Professional Services |
|
|
2,126 |
|
|
|
1,402 |
|
|
52% |
|
56% |
Total SaaS and professional services revenue |
|
$ |
22,699 |
|
|
$ |
19,308 |
|
|
18% |
|
21% |
|
|
|
|
|
|
|
|
|
|
|
Cost of
Revenue: |
|
|
|
|
|
|
|
|
|
|
GAAP subscription |
|
$ |
3,969 |
|
|
$ |
3,696 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Non-GAAP subscription |
|
$ |
3,969 |
|
|
$ |
3,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP professional services |
|
$ |
2,632 |
|
|
$ |
1,383 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
(707 |
) |
|
|
(83 |
) |
|
|
|
|
Non-GAAP professional services |
|
$ |
1,925 |
|
|
$ |
1,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP total cost of revenue |
|
$ |
6,601 |
|
|
$ |
5,079 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
(707 |
) |
|
|
(83 |
) |
|
|
|
|
Non-GAAP total cost of revenue |
|
$ |
5,894 |
|
|
$ |
4,996 |
|
|
18% |
|
20% |
|
|
|
|
|
|
|
|
|
|
|
Gross
Profit: |
|
|
|
|
|
|
|
|
|
|
Non-GAAP subscription |
|
$ |
17,409 |
|
|
$ |
15,150 |
|
|
|
|
|
Non-GAAP professional services |
|
|
201 |
|
|
|
102 |
|
|
|
|
|
Non-GAAP gross profit |
|
$ |
17,610 |
|
|
$ |
15,252 |
|
|
15% |
|
19% |
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
GAAP research and development |
|
$ |
6,399 |
|
|
$ |
4,549 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(625 |
) |
|
|
(115 |
) |
|
|
|
|
Non-GAAP research and development |
|
$ |
5,774 |
|
|
$ |
4,434 |
|
|
30% |
|
33% |
|
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing |
|
$ |
9,494 |
|
|
$ |
7,176 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(527 |
) |
|
|
(182 |
) |
|
|
|
|
Non-GAAP sales and marketing |
|
$ |
8,967 |
|
|
$ |
6,994 |
|
|
28% |
|
32% |
|
|
|
|
|
|
|
|
|
|
|
GAAP general and administrative |
|
$ |
2,732 |
|
|
$ |
1,930 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(585 |
) |
|
|
(56 |
) |
|
|
|
|
Non-GAAP general and administrative |
|
$ |
2,147 |
|
|
$ |
1,874 |
|
|
15% |
|
17% |
|
|
|
|
|
|
|
|
|
|
|
GAAP operating expenses |
|
$ |
18,625 |
|
|
$ |
13,655 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(1,737 |
) |
|
|
(353 |
) |
|
|
|
|
Non-GAAP operating expenses |
|
$ |
16,888 |
|
|
$ |
13,302 |
|
|
27% |
|
30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
[1] Constant currency growth rates presented are derived from
converting the current period results for entities reporting in
currencies other than U.S. Dollars into U.S. Dollars at the
exchange rates in effect during the prior period presented rather
than the actual exchange rates in effect during the current
period.
eGain CorporationOther
GAAP to Non-GAAP Supplemental Financial
Information(in
thousands)(unaudited)
|
|
Year EndedJune 30, |
|
Growth Rates |
|
Constant Currency Growth Rates [1] |
|
|
2022 |
|
|
2021 |
|
|
|
|
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
SaaS revenue |
|
$ |
80,904 |
|
|
$ |
66,929 |
|
|
21% |
|
21% |
Legacy revenue |
|
|
3,653 |
|
|
|
5,442 |
|
|
(33%) |
|
(33%) |
GAAP subscription |
|
|
84,557 |
|
|
|
72,371 |
|
|
17% |
|
17% |
GAAP professional services |
|
|
7,394 |
|
|
|
5,916 |
|
|
25% |
|
26% |
Total GAAP revenue |
|
$ |
91,951 |
|
|
$ |
78,287 |
|
|
17% |
|
18% |
|
|
|
|
|
|
|
|
|
|
|
SaaS and professional
services revenue: |
|
|
|
|
|
|
|
|
|
|
SaaS revenue |
|
$ |
80,904 |
|
|
$ |
66,929 |
|
|
21% |
|
21% |
Professional Services |
|
|
7,394 |
|
|
|
5,916 |
|
|
25% |
|
26% |
Total SaaS and professional services revenue |
|
$ |
88,298 |
|
|
$ |
72,845 |
|
|
21% |
|
22% |
|
|
|
|
|
|
|
|
|
|
|
Cost of
Revenue: |
|
|
|
|
|
|
|
|
|
|
GAAP subscription |
|
$ |
14,780 |
|
|
$ |
13,507 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Amortization of intangible assets |
|
|
— |
|
|
|
(26 |
) |
|
|
|
|
Non-GAAP subscription |
|
$ |
14,780 |
|
|
$ |
13,481 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP professional services |
|
$ |
9,757 |
|
|
$ |
5,760 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
(3,056 |
) |
|
|
(326 |
) |
|
|
|
|
Non-GAAP professional services |
|
$ |
6,701 |
|
|
$ |
5,434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP total cost of revenue |
|
$ |
24,537 |
|
|
$ |
19,267 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation |
|
|
(3,056 |
) |
|
|
(326 |
) |
|
|
|
|
Amortization of intangible assets |
|
|
— |
|
|
|
(26 |
) |
|
|
|
|
Non-GAAP total cost of revenue |
|
$ |
21,481 |
|
|
$ |
18,915 |
|
|
14% |
|
14% |
|
|
|
|
|
|
|
|
|
|
|
Gross
Profit: |
|
|
|
|
|
|
|
|
|
|
Non-GAAP subscription |
|
$ |
69,777 |
|
|
$ |
58,890 |
|
|
|
|
|
Non-GAAP professional services |
|
|
693 |
|
|
|
482 |
|
|
|
|
|
Non-GAAP gross profit |
|
$ |
70,470 |
|
|
$ |
59,372 |
|
|
19% |
|
19% |
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
GAAP research and development |
|
$ |
24,387 |
|
|
$ |
17,933 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(2,935 |
) |
|
|
(509 |
) |
|
|
|
|
Non-GAAP research and development |
|
$ |
21,452 |
|
|
$ |
17,424 |
|
|
23% |
|
24% |
|
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing |
|
$ |
33,746 |
|
|
$ |
25,999 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(2,367 |
) |
|
|
(657 |
) |
|
|
|
|
Non-GAAP sales and marketing |
|
$ |
31,379 |
|
|
$ |
25,342 |
|
|
24% |
|
24% |
|
|
|
|
|
|
|
|
|
|
|
GAAP general and administrative |
|
$ |
11,419 |
|
|
$ |
7,749 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(3,022 |
) |
|
|
(208 |
) |
|
|
|
|
Non-GAAP general and administrative |
|
$ |
8,397 |
|
|
$ |
7,541 |
|
|
11% |
|
12% |
|
|
|
|
|
|
|
|
|
|
|
GAAP operating expenses |
|
$ |
69,552 |
|
|
$ |
51,681 |
|
|
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
(8,324 |
) |
|
|
(1,374 |
) |
|
|
|
|
Non-GAAP operating expenses |
|
$ |
61,228 |
|
|
$ |
50,307 |
|
|
22% |
|
22% |
|
|
|
|
|
|
|
|
|
|
|
|
|
[1] Constant currency growth rates presented are derived from
converting the current period results for entities reporting in
currencies other than U.S. Dollars into U.S. Dollars at the
exchange rates in effect during the prior period presented rather
than the actual exchange rates in effect during the current
period.
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