eGain Reports Selected Preliminary Financial Results

SUNNYVALE, CA--(Marketwired - Aug 11, 2016) - eGain (NASDAQ: EGAN), a leading provider of cloud customer engagement solutions, today announced selected preliminary financial results for its fiscal 2016 fourth quarter and full year ended June 30, 2016.

Fiscal 2016 Fourth Quarter Preliminary Financial Results

• Total revenue for the fourth quarter is expected to be in the range of $17.2 million to $17.6 million
• Subscription and support revenue for the fourth quarter is expected to be in the range of $10.6 million to $10.9 million
• Earnings/loss per share for the fourth quarter is expected to be in the range of a loss of $0.01 to a loss of $0.04 per share
• Cash flow from operations for the fourth quarter is expected to be in the range of $1.8 million to $1.9 million
• New subscription ACV (non-GAAP) for the fourth quarter, which is the annualized value of new cloud and term license contractual obligations signed in the quarter, is expected to be $3.9 million, up 102% year over year and 104% sequentially

Fiscal 2016 Full Year Preliminary Financial Results

• Fiscal 2016 full year total revenue is expected to be in the range of $69.0 million to $69.4 million
• Subscription and support revenue for fiscal 2016 is expected to be in the range of $42.6 million to $42.9 million
• Earnings/loss per share for the fiscal 2016 full year is expected to be in the range of a loss of $0.29 to a loss of $0.32 per share
• Cash flow from operations for the fiscal 2016 full year is expected to be in the range of $1.5 million to $1.6 million
• Total cash and cash equivalents as of June 30, 2016, is expected to be $11.8 million
• Total bank borrowings as of June 30, 2016, is expected to be $21.1 million
• New subscription ACV (non-GAAP) for fiscal 2016, is expected to be $8.2 million, up 127% year over year
• Total subscription ACV (non-GAAP), which is the annualized value of the cloud and term license contractual obligations including renewals, as of June 30, 2016 is expected to be $25.9 million, up 12% year over year (19% on a constant currency basis(1))

Commenting on the preliminary financial results, Ashu Roy, eGain CEO, said: "I'm pleased with our continued transition to the cloud, in line with our 'easy with eGain' brand promise. In the quarter our subscription bookings represented 63% of new bookings, up from 40% in the fiscal third quarter. New subscription bookings represented 44% of our fiscal 2016 bookings, compared to 27% last year. At the same time, we reduced our operating costs and expenses by more than 13% compared to fiscal 2015."