Loading...
•
Oct 31, 2023
Verint Q3 2024 Earnings Report
Verint's Q3 2024 earnings beat revenue and non-GAAP diluted EPS expectations, with SaaS ARR increasing 11% year-over-year.
Key Takeaways
Verint announced Q3 FYE 2024 results, with revenue at $219 million and non-GAAP diluted EPS at $0.65. The company overachieved revenue and non-GAAP EPS expectations and is on track to complete the year with strong 11% revenue growth in Q4. SaaS ARR increased 11% year-over-year, driven by solid bookings and renewals. The 12-month SaaS pipeline was up more than 20% year-over-year.
SaaS ARR increased by 11% year-over-year.
New SaaS ACV Bookings were $25 million, equating to an annual run-rate of approximately $100 million.
Over 50% of new ACV bookings included Verint AI-Powered Bots, indicating increasing customer AI adoption.
Recurring revenue accounted for 87% of software revenue year-to-date, up approximately 200 basis points year-over-year.
Revenue by Segment
Forward Guidance
Verint provided its non-GAAP outlook for the year ending January 31, 2024.
Positive Outlook
- Revenue: $910 million +/- 2%
- SaaS Revenue: 15% year-over-year growth
- Diluted EPS: $2.65 at the midpoint of revenue guidance, reflecting 5% year-over-year growth
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...