eGain Corporation

Good day and welcome to the eGain fiscal 2024 first quarter financial results call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, Please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Jim Byers of MKR Investor Relations. Please go ahead.

Thank you, operator, and good afternoon, everyone. Welcome to EGAIN's Fiscal 2024 First Quarter Financial Results Conference Call. On the call today are EGAIN's Chief Executive Officer, Ashu Roy, and Chief Financial Officer Eric Schmidt. 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 the eGains results are detailed on the company's reports filed with the Securities and Exchange Commission. EGAIN is making these statements as of today, November 2nd, 2023, 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. The tables included with the earnings press release issued today include reconciliation of the historical non-GAAP financial measures to the most relief to the most directly comparable GAAP financial measures. And our earnings press release can be found by clicking the press releases link on the investor relations page of eGain's website at eGain.com. And along with the earnings release, we will post an updated investor presentation to the investor relations page of eGain's website. And lastly, a phone replay of this conference call will be available for one week. And now I'd like to turn the call over to eGains CEO, Ashu Roy.

Thank you, Jim, and good afternoon, everyone. We are off to a good start to our fiscal year. Both our top and bottom line results exceeded our guidance and street consensus for the quarter. Our adjusted EBITDA for the quarter at 12% was 600 basis points better than the year-over-quarter. Turning to business highlights, we closed some nice new logos in the first quarter, including a large North American industrial distributor and a top 10 Canadian bank. We also saw continued expansion across our client base during the quarter. Some expansion clients included a large California state agency, one of the largest US utilities, a uk financial services company a global insurance provider and a u.s health plan management provider looking at the market the macro environment remains challenging at the same time we see continued pickup in evaluations and decision making in our pipeline these include new opportunities as well as re-engagement from opportunities that were on hold What we are really excited about is the launch of AssistGPT, our newest product that we announced at the customer event in London in September. It's the first of its kind solution that leverages generative AI to automate knowledge management, reducing human effort by up to 80%. The result is correct consumable answers served to contact center agents, reducing the cost of service. AssistGPT allows businesses to confidently use AI in the context of reliable knowledge content, effective controls, and rich analytics within eGain's compliant, composable, and scalable knowledge platform. given the continued focus in the market on reducing business cost and improving agent experience we believe that assist gpt presents the biggest bang for the buck for businesses looking to invest in projects that improve business cost and improve agent experience. In fact, Gartner in 2022 recommended knowledge management as the number one technology investment for customer service. Now with an offering like eGain Assist GPT, this recommendation can become a reality. Speaking of Gartner, we are excited to note that Gartner recently published its 2023 Magic Quadrant for CRM Customer Engagement, and we were named a visionary this time. Last time around, we were in the niche category. The report from Gartner highlights our operationalized AI capabilities, our composable architecture, and our rich product functionality. We, as a team, could not be prouder. Turning to market awareness, our customer event in London in September was a resounding success. We had a record number of attendees, and we had exciting customer success stories shared on stage, including presentations from RSA, a global insurance company, Trig, a Nordic insurance giant, and ALV Automotive, the largest vehicle leasing company in Europe. In addition, Cafe Pacific, one of our recent clients, presented their knowledge journey with eGain along with Deloitte, our SI partner on this project. Finally, our assist GPT announcement and deep dive demos generated a lot of buzz among customers and prospects. With our focus on knowledge management, and particularly for customer service, Our product innovation and improved analyst recognition positions us well as macro conditions improve. To conclude, three points I want to make. The first, cost adjustments in our business over the last couple of quarters have helped improve our profitability, even as we continue to invest in product innovation and customer success. While new logo acquisition is still relatively slow in this market, we are seeing increased pipeline activity from both new RFPs and re-engagement from deals previously on hold. And finally, the market opportunity to help automate knowledge management for customer service is global, it's exciting, and it's large. And we are well positioned to capitalize on it as conditions improve. With that, I'll ask Eric Smith, our Chief Financial Officer, to add more color around our financial operations. Eric?