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eGain (EGAN) Q2 Earnings Beat Estimates, SaaS Revenues Up Y/Y
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eGain (EGAN - Free Report) reported second-quarter fiscal 2021 adjusted earnings of 6 cents per share, which surpassed the Zacks Consensus Estimate by 500%. However, the figure decreased 25% year over year.
Revenues of $19.2 million increased 5.4% year over year and beat the consensus mark by 4.1%.
Quarter Details
Subscription revenues (92% of total revenues) increased 7.7% year over year to $17.7 million. SaaS revenues grew 15.2% year over year to $16.2 million. However, legacy support revenues declined 33.8% year over year to $1.5 million.
Professional services revenues (8% of total revenues) decreased 15.3% year over year to $1.5 million.
Gladstone Investment Corporation Price, Consensus and EPS Surprise
Gross profit rose 12.1% year over year to $14.6 million. Gross margin expanded 450 basis points (bps) to 75.9%. The increase was due to growth in high-margin SaaS revenues and improvement in scale and efficiency of eGain’s cloud operations.
Research & development and sales & marketing expenses increased 7.7% and 29.9% year over year to $4.4 million and $6.1 million, respectively.
However, general & administration expenses decreased 5.8% year over year to $1.8 million.
Operating income was $2.3 million down 9% year over year.
Balance Sheet
As of Dec 3, 2020, cash and cash equivalents were $54.2 million.
Guidance
For fiscal third-quarter 2021, eGain expects SaaS revenues between $15.8 million and $16.3 million. Total revenues are expected between $18.3 million and $18.8 million.
Moreover, eGain expects to report between break-even and loss of 3 cents per share.
CEVA and Baidu are set to report their quarterly results on Feb 16 and 17, respectively. CrowdStrike is set to report the same on Mar 16.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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eGain (EGAN) Q2 Earnings Beat Estimates, SaaS Revenues Up Y/Y
eGain (EGAN - Free Report) reported second-quarter fiscal 2021 adjusted earnings of 6 cents per share, which surpassed the Zacks Consensus Estimate by 500%. However, the figure decreased 25% year over year.
Revenues of $19.2 million increased 5.4% year over year and beat the consensus mark by 4.1%.
Quarter Details
Subscription revenues (92% of total revenues) increased 7.7% year over year to $17.7 million. SaaS revenues grew 15.2% year over year to $16.2 million. However, legacy support revenues declined 33.8% year over year to $1.5 million.
Professional services revenues (8% of total revenues) decreased 15.3% year over year to $1.5 million.
Gladstone Investment Corporation Price, Consensus and EPS Surprise
Gladstone Investment Corporation price-consensus-eps-surprise-chart | Gladstone Investment Corporation Quote
Gross profit rose 12.1% year over year to $14.6 million. Gross margin expanded 450 basis points (bps) to 75.9%. The increase was due to growth in high-margin SaaS revenues and improvement in scale and efficiency of eGain’s cloud operations.
Research & development and sales & marketing expenses increased 7.7% and 29.9% year over year to $4.4 million and $6.1 million, respectively.
However, general & administration expenses decreased 5.8% year over year to $1.8 million.
Operating income was $2.3 million down 9% year over year.
Balance Sheet
As of Dec 3, 2020, cash and cash equivalents were $54.2 million.
Guidance
For fiscal third-quarter 2021, eGain expects SaaS revenues between $15.8 million and $16.3 million. Total revenues are expected between $18.3 million and $18.8 million.
Moreover, eGain expects to report between break-even and loss of 3 cents per share.
Zacks Rank & Stocks to Consider
eGain currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader technology sector are Baidu (BIDU - Free Report) , CEVA (CEVA - Free Report) and CrowdStrike Holdings (CRWD - Free Report) . While Baidu sports a Zacks Rank #1 (Strong Buy), both CEVA and CrowdStrike carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CEVA and Baidu are set to report their quarterly results on Feb 16 and 17, respectively. CrowdStrike is set to report the same on Mar 16.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>