In the recent annual meeting of eGain (NASDAQ:EGAN) Corporation (NASDAQ:EGAN), shareholders cast their votes on several key proposals, including the election of directors, executive compensation, and the appointment of an independent auditor for the upcoming fiscal year. According to InvestingPro analysis, eGain currently appears undervalued, with a market capitalization of $161 million and maintains a "GOOD" overall financial health score.
The meeting, which took place on Wednesday, resulted in the election of all five nominated directors to serve until the 2025 annual meeting or until their successors are elected and qualified. The board members elected are Ashutosh Roy, Gunjan Sinha, Phiroz P. Darukhanavala, Brett Shockley, and Christine Russell.
The voting showed a significant majority in favor of each director, with Roy receiving the highest number of votes for his re-election. InvestingPro data reveals management's confidence through aggressive share buybacks, while maintaining a strong balance sheet with more cash than debt.
Additionally, the company's stockholders approved, on a non-binding advisory basis, the compensation paid to its named executive officers. This advisory vote, often referred to as a "say on pay," reflects shareholder sentiment on the company's executive compensation policies and practices.
The appointment of BPM LLP as eGain's Independent (LON:IOG) Registered Public Accounting Firm for the fiscal year ending June 30, 2025, was also ratified with an overwhelming majority of the votes cast in favor.
In other recent news, eGain Corporation reported mixed Q1 2025 results, revealing a 10% decrease in total revenue year-over-year, amounting to $21.8 million. Despite this, the company experienced a surge in new bookings for its AI Knowledge Hub product and announced the launch of the eGain AI Agent. CFO Eric Smit reported a non-GAAP net income of $1.3 million, a decrease from $3.8 million in the prior year, but maintained the revenue guidance for the upcoming quarter and the full fiscal year.
The company 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.
eGain Corporation disclosed changes to its executive compensation structure, including a variable annual cash compensation for CEO Ashutosh Roy and stock options granted to several executive officers. The company has also extended its stock repurchase program to 2025, reflecting confidence in future growth, with approximately $12.4 million available for further repurchases. These are some of the recent developments within the company.
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