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Oct 31, 2020
Verint Q3 2021 Earnings Report
Announced strong Q3 results with sequential growth and resumed guidance.
Key Takeaways
Verint Systems Inc. announced solid Q3 results with strong sequential revenue growth and year-over-year adjusted EBITDA growth. The company is making progress with its key initiatives, including the business separation, Customer Engagement cloud transition, and Cyber Intelligence software model margin expansion. They expect to finish the year strong and are resuming guidance.
Revenue for the three months ended October 31, 2020 was $328 million on a GAAP basis and $331 million on a non-GAAP basis.
Diluted EPS for the three months ended October 31, 2020 was $0.11 on a GAAP basis, and $1.02 on a non-GAAP basis.
The company expects approximately 20% non-GAAP cloud revenue growth this year, excluding ForeSee.
Gross margins for Cyber Intelligence increased 900bps year-over-year and gross profit increased 21% year-over-year, each on a non-GAAP estimated fully allocated basis.
Verint
Verint
Forward Guidance
Verint provided FY2021 non-GAAP revenue and diluted EPS outlook.
Positive Outlook
- FY2021 non-GAAP revenue outlook is $1.280 billion with a range of +/- 1%.
- FY2021 non-GAAP diluted EPS outlook is $3.40 at the midpoint of revenue guidance.
- Building momentum in our businesses and visibility has improved.
- To provide an initial view on outlook for FY2022.
- To provide long-term targets during today’s conference call.