Herzliya, Israel, April 5, 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 and year ended January 31, 2022 (“Q4 FYE22” and “FYE22”).
“In the fourth quarter, revenue was $125 million, up about $7 million sequentially from the third quarter, but several million dollars below the midpoint of our guidance. Our results reflect continued supply chain issues, as well as a lower conversion of our pipeline than we expected at the time of our last earnings conference call. We are proactively addressing these issues, but our ability to forecast with any level of precision is currently limited. As a result, we are unable to provide FYE23 guidance and long-term targets at this time,” said Elad Sharon, Cognyte’s Chief Executive Officer.
“Looking forward, we believe we are well positioned for sustained growth over the long-run,” Sharon continued. “The market’s fundamentals have not changed. Security threats are increasing, and governments are seeking innovative analytical solutions. We are a market leader with a long history of growth and innovation and will continue to help our customers address their evolving security challenges.”
- Revenue: $125.0 million (GAAP, up 0.8% y-o-y) and $125.3 million (non-GAAP, up 0.6% y-o-y)
- Gross Margin: 71.8% (GAAP, up 200 bps y-o-y) and 72.7% (non-GAAP, up 180 bps y-o-y)
- Diluted EPS: $(0.19) (GAAP) and $0.16 (non-GAAP)
- Revenue: $474.0 million (GAAP, up 6.9% y-o-y) and $475.6 million (non-GAAP, up 6.4% y-o-y)
- Gross Margin: 72.1% (GAAP, up 200 bps y-o-y) and 73.1% (non-GAAP, up 200 bps y-o-y)
- Diluted EPS: $(0.22) (GAAP) and $0.74 (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 and year ended January 31, 2022, outlook, and long-term targets. 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 (833) 562-0165 (United States and Canada) and +1 (661) 567-1247 (International) and the passcode is 7593488. 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.