Herzliya, Israel, June 28, 2022 – Cognyte Software Ltd. (NASDAQ: CGNT) (the “Company,” “Cognyte,” “we,” “us” and “our”), a global leader in investigative analytics software, today announced results for the three months ended April 30, 2022 (“Q1 FYE23”).
“Cognyte has more than two decades of delivering innovative solutions, strong customer relationships, profitable growth and managing through periods of volatility. We are disappointed with our first quarter results, which were impacted by slow pipeline conversion and supply chain. We have taken actions to improve our execution and cost structure in the current environment. At this time, we are unable to give guidance but continue to believe in the long-term opportunity,” said Elad Sharon, Cognyte’s Chief Executive Officer.
- Revenue: $86.4 million (GAAP) and $86.7 million (non-GAAP)
- Gross Margin: 59.7% (GAAP) and 60.8% (non-GAAP)
- Diluted EPS: $(0.45) (GAAP) and $(0.79) (non-GAAP)
Conference Call Information
We will conduct a conference call today at 8:30 a.m. ET to discuss our results for the three months ended April 30, 2022. An online, real-time webcast of the conference call and webcast slides will be available on our website at www.Cognyte.com. The conference call can also be accessed live via telephone at +1 (866) 374-5140 (United States) and +1 (404) 400-0571 (International). The Conference ID is 62536546. Please dial in 5-10 minutes prior to the scheduled start time. An archived webcast of the conference call will also be available in the “Investors” section of the company’s website.
This press release and the accompanying tables include non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of non-GAAP financial measures presented for completed periods to the most directly comparable financial measures prepared in accordance with GAAP, please see the tables below as well as “Supplemental Information About Non-GAAP Financial Measures” at the end of this press release.
About Cognyte Software Ltd.
We are a global leader in investigative analytics software that empowers governments and enterprises with Actionable Intelligence for a Safer World™. Our open software is designed to help governments and enterprises accelerate and improve the effectiveness of investigations. Over 1,000 government and enterprise customers rely on our solutions to accelerate and conduct investigations and derive insights, with which they identify, neutralize, and tackle threats to national security, personal safety, business continuity and various forms of criminal activity. Our government customers consist of national, regional, and local government agencies in more than 100 countries around the world. Our enterprise customers consist of commercial customers and physical security customers.
Caution About Forward-Looking Statements
Cognyte Software Ltd.
Cognyte Software Ltd.