Cognyte Reports First Quarter Fiscal 2025 Financial Results

About this update from Cognyte Software Ltd.

[{"type":"text","content":"\nContinues to drive revenue growth and strong margin expansion, raises guidance for Fiscal 2025\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 ended April 30, 2024 (“Q1 FYE25”).\n\n\nQ1 FYE25 Financial Highlights\n\n\n\n\n \n\n\n\n\n\n\nThree Months\nEnded April 30,\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months\nEnded April 30,\n2023\n\n\n\n\n\n\n\n\n(in thousands, except per share data)\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\nGAAP\n\n\n\n\n\n\n \n\n\n\n\n\n\nNon-GAAP\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$82,714\n\n\n\n\n\n\n \n\n\n\n\n\n\n$82,714\n\n\n\n\n\n\n \n\n\n\n\n\n\n$73,266\n\n\n\n\n\n\n \n\n\n\n\n\n\n$73,378\n\n\n\n\n\n\n\n\nGross Margin\n\n\n\n\n\n\n70.6%\n\n\n\n\n\n\n \n\n\n\n\n\n\n71.1%\n\n\n\n\n\n\n \n\n\n\n\n\n\n67.9%\n\n\n\n\n\n\n \n\n\n\n\n\n\n68.4%\n\n\n\n\n\n\n\n\nBasic and diluted EPS*\n\n\n\n\n\n\n$(0.07)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(0.04)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(0.13)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(0.11)\n\n\n\n\n\n\n\n*Our non-GAAP income taxes for prior period were adjusted as detailed further under footnote 3.\n\n\n“We had a solid start to the year as we continued to deliver revenue growth and margin expansion,” said Elad Sharon, Cognyte’s chief executive officer. “Our results demonstrate the leverage we have built into our business model. Our customers are facing significant, growing and evolving challenges and look to us for solutions to effectively perform their missions and make the world safer. Given our momentum and good visibility, we increased our outlook for FYE25. We continue to be excited about the opportunities in front of us and believe we are positioned for sustainable growth and continuing improvement in profitability.”\n\n\n“Our Q1 financial results were strong, and we ended the quarter with $107 million of cash and no debt,” said David Abadi, Cognyte’s chief financial officer. “We now expect FYE25 full-year revenue to be $344 million, plus or minus 2%, representing approximately 10% year-over-year growth at the midpoint of the range. With the leverage we have in our business model, we now expect Adjusted EBITDA to be about $22 million, and to generate about $...

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