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eGain Corporation (EGAN-1.16%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in total revenue to $22.4 million from $23.8 million in the same quarter the previous year. This decrease is attributed to a reduction in SaaS revenue.
Cost of revenue for the quarter was $6.7 million, representing 30% of total revenue, compared to 29% in the same quarter of the previous year. This increase is due to higher costs in professional services.
The company reported a gross profit of $15.7 million for the quarter, compared to $16.8 million in the previous year, with the decline attributed to reduced SaaS revenue.
Research and development expenses increased to $7.7 million from $6.7 million, primarily due to increases in personnel-related costs.
Sales and marketing expenses decreased to $5.3 million from $5.3 million, with the decrease primarily due to reduced personnel-related costs.
General and administrative expenses decreased to $2.1 million from $2.4 million, attributed to decreases in credit loss expense and consulting costs.
Net income for the quarter was $671,000, down from $2.2 million in the previous year. Earnings per share were $0.02, compared to $0.07 in the previous year.
Cash provided by operating activities was $7.4 million, while cash used in investing and financing activities was $248,000 and $6.1 million, respectively.
eGain had a working capital of $86.3 million as of December 31, 2024. The company anticipates maintaining current operations with existing capital resources for at least the next 12 months.
The filing also details various financial agreements, including a stock repurchase program with $10 million remaining for repurchases.
eGain continues to focus on expanding its SaaS business and cloud operations, with an emphasis on AI technology and services. The company acknowledges the competitive nature of the market and the need to adapt to technological changes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the eGain Corporation quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.