eGain Corporation (NASDAQ:EGAN) Q1 2020 Earnings Conference Call - Final Transcript
Nov 06, 2019 • 05:00 pm ET
Good day and welcome to the eGain's Fiscal 2020 First Quarter Financial Results Conference Call. [Operator Instructions]
At this time, I'd like to turn the conference over to Jim Byers of MKR Investor Relations. Please go ahead, sir.
Thank you, operator, and good afternoon, everyone. Welcome to eGain's first quarter fiscal 2020 financial results conference call. On the call today are eGain's Chief Executive Officer, Ashu Roy; and Chief Financial Officer, Eric Smit.
Before we begin, I would like to remind everyone that during this conference call, management will make certain forward-looking statements, which convey management's expectations, beliefs, plans and objectives regarding future financial and operational performance. Forward-looking statements are generally preceded by words such as believe, plan, intend, expect, anticipate or similar expressions. Forward-looking statements are protected by safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a wide range of risks and uncertainties that could cause actual results to differ in material respects. Information on various factors that could affect eGain's results are detailed on the company's reports filed with the Securities and Exchange Commission. eGain is making these statements as of today, November 6, 2019, and assumes no obligation to publicly update or revise any forward-looking information in this conference call.
In addition to GAAP results, we will discuss certain non-GAAP financial measures such as non-GAAP operating income. Our earnings press release can be found on the news release link on the Investor Relations page at eGain's website at www.egain.com. The tables included with the earnings press release include reconciliation of the historical non-GAAP financial measures to the most recently comparable GAAP financial measures.
And lastly, a replay of this conference call will also be available at the Investor Relations section of eGain's website.
And now with that said, I'd like to turn the call over to eGain's CEO, Ashu Roy.
Thank you, Jim, and good afternoon, everyone. We achieved a solid performance across the board in Q1. This included top and bottom line results that exceeded our guidance, and we're ahead of Street consensus. And we also generated good cash flow from operations in the quarter.
Let me share some financial highlights. Our SaaS revenue grew 30% year-over-year. Our subscription revenue grew 13% year-over-year and comprised about 91% of our total Q1 revenue. We were GAAP profitable for the quarter with net income of $1.2 million compared to net income of $600,000 in the same quarter of last year. And finally, we generated $2.7 million in cash from operations in the quarter. So all in all, very strong numbers and a good start to the year.
Looking at the business, the last quarterly earnings call we did was just a few weeks ago. So what I can tell you, which is all good, that we have nice bookings in the quarter with healthy mix of new customers and expansion opportunities.
One of the things I want to talk about in terms of sort of market and customer