SUNNYVALE, CA – eGain (NASDAQ:EGAN) Corporation (NASDAQ:EGAN), a provider of cloud customer engagement solutions, disclosed changes to its executive compensation structure in a recent SEC filing. The company's Compensation Committee has approved a variable annual cash compensation for CEO Ashutosh Roy, set at 60% of the target amount for the fiscal year ended June 30, 2024, totaling $60,000. This adjustment does not affect Mr. Roy’s base salary.
On Monday, the company's Board also granted stock options to several executive officers as part of its Amended and Restated 2005 Stock Incentive Plan. The options, with an exercise price of $5.71 per share—equivalent to the closing price of eGain’s stock on the NASDAQ on the day of the grant—will vest on September 1, 2025, assuming ongoing service with the company. CEO Ashutosh Roy received 20,000 options, CFO Eric N. Smit was granted 26,000 options, and Rao J. Chandrasekhar, Senior Vice President of Products and Services, received 15,000 options.
The company, headquartered at 1252 Borregas Avenue in Sunnyvale, California, operates under the SIC code for Services-Prepackaged Software (ETR:SOWGn), indicating its focus on software solutions. eGain, incorporated in Delaware with an IRS identification number of 77-0466366, has its fiscal year ending on June 30.
In other recent news, eGain Corporation has extended its stock repurchase program to 2025, reflecting the company's confidence in its future growth and the AI knowledge market. The company has already repurchased approximately $27.6 million of its common stock, with about $12.4 million available for further repurchases.
In addition to this, eGain reported mixed Q1 2025 results, with a 10% decrease in total revenue year-over-year, amounting to $21.8 million. However, the company has seen a surge in new bookings for its AI Knowledge Hub product and announced the launch of the eGain AI Agent.
The company's CFO, Eric Smit, reported a non-GAAP net income of $1.3 million, a drop from $3.8 million in the prior year, but maintained the revenue guidance for the upcoming quarter and the full fiscal year. eGain also reported a strong balance sheet with $67.2 million in cash and cash equivalents, and a 16% increase in SaaS Annual Recurring Revenue (ARR) for Knowledge customers. However, there was a 15% decrease in total remaining performance obligations (RPO) year-over-year, mainly due to two customer losses.
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