Verint Announces Q3 FYE 2024 Results

The client Engagement Company ™, moment blazoned results for the three and nine months ended October 31, 2023( FYE 2024). profit for the three months ended October 31, 2023 was$ 219 million, representing( 3) time-over-year change. profit for the nine months ended October 31, 2023 was$ 645 million on a GAAP base and$ 646 million on anon-GAAP base, representing( 3) time-over-year change on both a GAAP andnon-GAAP base. For the three months ended October 31, 2023, adulterated EPS was$0.12 on a GAAP base and$0.65 on anon-GAAP base. For the nine months ended October 31, 2023, net loss per share was$(0.09) on a GAAP base and adulterated EPS was$1.67 on anon-GAAP base. “ We’re pleased to have overachieved our profit andnon-GAAP adulterated EPS prospects in Q3 and believe we’re on track to complete the time with strong 11 profit growth in Q4. Our 12 month SaaS channel at the end of Q3 was over further than 20 time-over-year and we’re pleased with the increase in client AI relinquishment with the maturity of our Q3 new SaaS ACV bookings including Verint AI- Powered Bots. We look forward to reviewing our significant AI isolation and the positive impact client AI relinquishment has on our fiscal model at our investor day coming week, ” said Dan Bodner, Verint CEO.

Q3 FYE 2024 Highlights

SaaS ARR Up 11 time-over-year
New SaaS ACV Bookings$ 25 Million, or an periodic run- rate of
100 million
of New ACV Bookings Including Bots> 50, with client AI relinquishment adding
Favorable Mix Shift to Recurring Revenue 87 of software profit recreating time- to- date( up
200bps time-over-year)
Gross periphery Up further than 100bps time- to- date compared to the same period last time
GAAP Cash From Operations Up 19 time- to- date compared to the same period last time
entitlement Highlander, Verint CFO, added, “ SaaS ARR is getting an important metric to understand our SaaS growth trends as guests shift to the Verint pall, and I’m pleased that SaaS ARR increased 11 in Q3 time-over-year. I’m also pleased with our strong perimeters and 19 time-over-year increase in GAAP cash from operations time- to- date, which provides us with fiscal inflexibility as we continue to execute on our preliminarily blazoned$ 200 million stock buyback program. Going forward, Verint is well deposited for the request shift to further bots and smaller contact center agents. Verint planting further bot licenses with smaller agent licenses will increase our TAM overall, and give us the occasion to accelerate SaaS profit growth. ”

FYE 2024 Outlook

We’re furnishing ournon-GAAP outlook for the time ending January 31, 2024 as follows

profit$ 910 million/- 2
SaaS profit 15 time-over-year growth
Adulterated EPS$2.65 at the midpoint of our profit guidance, reflecting 5 time-over-year growth
Ournon-GAAP outlook for time ending January 31, 2024 excludes the following GAAP measure which we’re suitable to quantify with reasonable certainty

Amortization of impalpable means of roughly$ 33 million.
Ournon-GAAP outlook for the time ending January 31, 2024 excludes the following GAAP measures for which we’re suitable to give a range of probable significance

profit adaptations are anticipated to be between roughly$ 1 million and$ 2 million.
Stock- grounded compensation charges are anticipated to be between roughly$ 67 million and$ 69 million, assuming request prices for our common stock roughly harmonious with current situations.
Costs associated with modifying our plant in response to our decision to move to a mongrel work terrain, including assumed parcel terminations and abandonments, IT installations and structure costs, and other nonrecurring charges are anticipated to be between roughly$ 26 million and$ 28 million.
Ournon-GAAP guidance doesn’t include the implicit impact of any in- process business accessions that may close after the date hereof, and, unless else specified, reflects foreign currency exchange rates roughly harmonious with current rates.

We’re unfit, without unreasonable sweats, to give a conciliation for other GAAP measures which are barred from ournon-GAAP outlook, including the impact of unborn business accessions or accession charges, unborn restructuring charges, andnon-GAAP income duty adaptations due to the position of unpredictability and query associated with these particulars. For these same reasons, we’re unfit to assess the probable significance of these barred particulars. While literal results may not be reflective of unborn results, factual quantities for the three and nine months ended October 31, 2023 and 2022 for the GAAP measures barred from ournon-GAAP outlook appear in Tables 2, 3 and 4 of this press release.

Q3 Conference Call Information

We’ll conduct a conference call moment at 430p.m. ET to bandy our results for the three and nine months ended October 31, 2023 and outlook. An online, real- time webcast of the conference call and webcast slides will be available on our website Actors may register for the call then to admit the dial- in figures and unique Leg to pierce the call. Please join the call 5- 10 twinkles previous to the listed launch time.

Investor Day Information

We’ll host an Investor Day on Wednesday, December 13, 2023 at 10a.m. ET which will concentrate on Verint’s AI isolation and CX robotization occasion. A Q&A session will follow the set reflections. To register for the Investor Day, which will be hosted nearly, please visit the event’s enrollment runner by clicking then.

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