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Verint
🇺🇸 NASDAQ:VRNT
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•
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.

Total Revenue
$219M
Previous year: $226M
-3.1%
EPS
$0.65
Previous year: $0.69
-5.8%
Gross Profit
$153M
Previous year: $155M
-1.2%
Cash and Equivalents
$212M
Previous year: $252M
-15.9%
Free Cash Flow
$14.1M
Previous year: $14.2M
-0.8%
Total Assets
$2.13B
Previous year: $2.17B
-1.7%

Verint

Verint

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

Company Overview

Full financial data and analysis

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