Press release
Cognyte Announces Fourth Quarter and Fiscal Year Ended January 31, 2022 Results
HERZLIYA, Israel--(BUSINESS WIRE)-- Cognyte Software Ltd. (NASDAQ: CGNT) (the “Company,” “Cognyte,” “we,” “us” and “our”), a global leader in investigative
About this update from Cognyte Software Ltd.
[{"type":"text","content":" HERZLIYA, Israel--(BUSINESS WIRE)--\nCognyte 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”).\n\n“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.\n\n“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.”\n\nQ4 Highlights\n\n\nRevenue: $125.0 million (GAAP, up 0.8% y-o-y) and $125.3 million (non-GAAP, up 0.6% y-o-y)\n\n\nGross Margin: 71.8% (GAAP, up 200 bps y-o-y) and 72.7% (non-GAAP, up 180 bps y-o-y)\n\n\nDiluted EPS: $(0.19) (GAAP) and $0.16 (non-GAAP)\n\n\nFYE22 Highlights\n\n\nRevenue: $474.0 million (GAAP, up 6.9% y-o-y) and $475.6 million (non-GAAP, up 6.4% y-o-y)\n\n\nGross Margin: 72.1% (GAAP, up 200 bps y-o-y) and 73.1% (non-GAAP, up 200 bps y-o-y)\n\n\nDiluted EPS: $(0.22) (GAAP) and $0.74 (non-GAAP)\n\n\nConference Call Information\n\nWe 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. ...