Press release
Cognyte Announces Fourth Quarter and Fiscal Year Ended January 31, 2023 Results
Raises Revenue Guidance for Fiscal 2024 HERZLIYA, Israel--(BUSINESS WIRE)-- Cognyte Software Ltd. (NASDAQ: CGNT) (the “Company,” “Cognyte,” “we,” “us” and
About this update from Cognyte Software Ltd.
[{"type":"text","content":"\nRaises Revenue Guidance for Fiscal 2024\n\n\n 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, 2023 (“Q4 FYE23”, “FYE23” and “Fiscal 2023”).\n\n\nQ4 Highlights\n\n\n\n\n \n\n\n\n\n\n\n\nThree Months Ended January 31, 2023\n\n\n\n\n\n\n\n\n(in thousands, except per share data)\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nSIS Adjusted Non-GAAP\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n$73,261\n\n\n\n\n\n\n \n\n\n\n\n\n\n$73,572\n\n\n\n\n\n\n \n\n\n\n\n\n\n$71,197\n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n\n61.2%\n\n\n\n\n\n\n \n\n\n\n\n\n\n64.9%\n\n\n\n\n\n\n \n\n\n\n\n\n\n64.9%\n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n\n\n$(0.40)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(0.16)\n\n\n\n\n\n\n \n\n\n\n\n\n\nN/A\n\n\n\n\n\n\n\nFYE23 Highlights\n\n\n\n\n \n\n\n\n\n\n\n\nYear Ended January 31, 2023\n\n\n\n\n\n\n\n\n(in thousands, except per share data)\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nSIS Adjusted Non-GAAP\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n$312,062\n\n\n\n\n\n\n \n\n\n\n\n\n\n$313,105\n\n\n\n\n\n\n \n\n\n\n\n\n\n$283,041\n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n\n61.6%\n\n\n\n\n\n\n \n\n\n\n\n\n\n63.5%\n\n\n\n\n\n\n \n\n\n\n\n\n\n62.8%\n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n\n\n\n\n\n$(1.68)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(1.24)\n\n\n\n\n\n\n \n\n\n\n\n\n\nN/A\n\n\n\n\n\n\n\n“I’m pleased to report fourth quarter Non-GAAP revenue coming in at the upper end of our expectations with positive cash flow from operations. We continued to win large deals and increase backlog (remaining performance obligations), driving improved visibility and enabling us to raise our revenue guidance for Fiscal 2024. We believe that the combination of our cutting-edge technology, large customer base and significant backlog positions us well for long-term growth,” said Elad Sharon, Cognyte’s chief executive officer.\n\n\n“Throughout Fiscal 2023 we improved our cost structure in response to market dynamics. We are entering Fiscal 2024 with the appropriate cost structure to drive revenue growth. We are expecting to achieve positive quarterly EBITDA in the fourth quarter of Fiscal 2024 gi...