eGain Corporation (NASDAQ:EGAN) Q4 2020 Earnings Conference Call - Final Transcript
Sep 02, 2020 • 05:00 pm ET
Good day, and welcome to the eGain Fiscal 2020 Fourth Quarter and Full Year Financial Results Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Jim Byers of MKR Investor Relations. Please go ahead, sir.
Thank you, operator. Good afternoon, everyone. Welcome to eGain's fiscal 2020 fourth quarter and full year 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 in the company's reports filed with the Securities and Exchange Commission. eGain is making these statements as of today, September 2, 2020, and assumes no obligation to publicly update or revise any of the forward-looking information in this conference call.
In addition to GAAP results, we will also discuss certain non-GAAP financial measures such as non-GAAP operating income. Our earnings press release can be found in the News Release link on the Investor Relations page at eGain's website at egain.com. The tables included with the earnings press release include reconciliation of the historical non-GAAP financial measures to the most directly 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. And hello everyone. We are pleased to report strong financial performance across the board for our fiscal 2020 fourth quarter and full year. In summary, our fiscal 2020 full-year performance exceeded our guidance. Our top and bottom line results are ahead of Street consensus. We also saw a healthy increase in bookings year-over-year and we generated strong profits and record cash flow for the year. It's been a good year of business performance. In addition, we exited fourth quarter of fiscal 2020 with our SaaS business revenue, which is some of SaaS revenue plus professional services that SaaS business revenue is now at a little over 90% of our total revenue for the fourth quarter. As you all know we had targeted to get to this 90% plus level of SaaS business revenue in the December 2020 quarter, which is two quarters from now and we have reached that milestone two quarters early, which is good momentum.
Turning to the evolving business climate, in the ongoing pandemic. Some of our deals, especially new