eGain Corp (NASDAQ:EGAN), a leading knowledge platform for customer engagement, stock fell 8.43% (As on September 15, 11:48:48 AM UTC-4, Source: Google Finance) after the company announced its impressive Q4 earnings for fiscal year 2023, surpassing expectations set by industry analysts. Non-GAAP net income was $3.6 million, compared to non-GAAP net income of $893,000, in Q4 2022. Adjusted EBITDA was $4.0 million compared to $857,000 in Q4 2022. Cash provided by operations for fiscal 2023 was $4.6 million, or an operating cash flow margin of 5%. Total cash and cash equivalents as of June 30, 2023 were $73.2 million, up from $72.2 million as of June 30, 2022. After a tough fiscal 2023 when deals stalled in the pipeline due to the difficult macro environment, the company is now seeing many of those deals re-engaging and new RFPs launching with urgency and intent. Generative AI is rejuvenating interest in knowledge management platforms, and this will drive demand for the products in fiscal 2024.

Moreover, the company has announced its Solve 23 conference to be held on September 25, at the Brewery, London. It will showcase the next generation of eGain Knowledge Hub, melding generative AI and knowledge management to automate service. The company has announced a partnership with Talkdesk, Inc., a global cloud contact center leader for enterprises of all sizes, to help businesses modernize customer service with the power of AI-infused knowledge management and rich digital capabilities.

EGAN in the fourth quarter of FY 23 has reported the adjusted earnings per share of 11 cents, beating the analysts’ estimates for the adjusted earnings per share of 6 cents. The company had reported the adjusted revenue growth of 5 percent to $24.6 million in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $23.71 million. SaaS revenue was $22.7 million, up 10% year over year.

Additionally, during the fourth quarter, total shares purchased through repurchase program was approximately 640,000 at an average cost per share of $7.28, totaling $4.7 million.

For the upcoming fiscal year, ending on June 30, 2024, the company expects to achieve total revenue ranging between $96.0 million to $98 million and earnings in the range of 33 cents to 35 cents per share.

For the current quarter ending in September, eGain expects its per-share earnings to range from 5 cents to 7 cents. The company said it expects revenue in the range of $23.5 million to $24 million for the fiscal first quarter.