New Enterprise Logos and AI Knowledge Hub Growth
eGain Corporation closed several new enterprise logos, leading to a 17% year-over-year increase in AI knowledge hub Annual Recurring Revenue (ARR). Notable new clients include a major US airline, a leading interactive entertainment company, and a global money transfer company.
Successful eGain Solve 2024 Event and Product Launch
The company held a successful eGain Solve 2024 event in Chicago, where it announced the eGain AI Agent, a new omnichannel conversational product. Customer interest in the eGain AI Agent is strong, and it is set to launch in the current quarter.
Strong Cash Position and Share Repurchase Program
eGain generated $6.4 million in cash flow from operations, with total cash and cash equivalents at the end of the quarter amounting to $70.5 million. Additionally, the company repurchased 121,000 shares, totaling $2.4 million, under its share repurchase program.