The following is a summary of the EGain Corporation (EGAN) Q3 2024 Earnings Call Transcript:
Financial Performance:
eGain reported a Q3 2024 total revenue of $22.4 million, a decrease of 3% year-over-year.
The company saw improved non-GAAP operating costs, down 7% from the same quarter last year.
Non-GAAP net income increased by 142% year-over-year to $2.6 million or $0.08 per share.
eGain generated $1.7 million in operating cash flow this quarter and held cash and cash equivalents of $83.1 million at quarter-end.
Business Progress:
eGain reported positive progress with new customer acquisitions and increased business activity, primarily driven by the AI knowledge product offerings.
The company entered into several new client partnerships, including a U.S. megabank, a Fortune 100 mortgage company, a U.S. property management company, and a high-end bicycle manufacturer.
eGain launched the AssistGPT solution in Q3, aiding clients in automating knowledge creation and curation.
The Last Twelve Months (LTM) dollar-based SaaS net expansion rate for knowledge customers and total customers were 109% and 105% respectively.
For Q4, revenues are projected to be between $21.1-$21.4 million and for the entire fiscal year 2024, revenues are expected to be between $91.5 million and $91.8 million.
The company continues to increase investment in R&D and marketing, focusing on its opportunities within the AI knowledge market for customer service.
More details: eGain IR
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