Verint Systems reported fourth-quarter fiscal 2022 non-GAAP earnings of 57 cents per share, which fell short of the Zacks Consensus Estimate by 1.7%. The figure is -12.3% lower from the year-ago quarter.
Non-GAAP revenues rose +4.1% year over year to $236.2 million, and beat the Zacks Consensus Estimate by 1.8%. GAAP revenues of $234.2 million increased 4% year over year.
On a non-GAAP basis, Verint’s cloud revenues rose +35% from the prior-year quarter to $118.6 million. Non-GAAP software-as-a-service (SaaS) revenues climbed +43.7% from the year-ago quarter to $102.6 million.
The company’s new perpetual license equivalent (PLE) bookings rose +12.5% year over year to $92.6 million. The percentage of new PLE bookings from SaaS was 60.8% for the fiscal fourth quarter compared with 48.6% in the prior-year period.
New SaaS annual contract value surged +38.3% from the year-ago quarter to $30.3 million.
Non-GAAP gross profit rose 1.6% year over year to $160.1 million, while Non-GAAP gross margin contracted 170 basis points (bps) to 67.8%.
For fiscal 2023 (ending Jan 31, 2023), Verint expects non-GAAP revenues of $940 million (+/-2%) compared with the prior outlook of $935 million (+/-2%). Non-GAAP earnings per share are expected to be $2.50, implying 10% year-over-year growth.
For fiscal 2023, cloud revenue growth is projected in the range of 30-32%.
VRNT saw its Momentum Indicator move above the 0 level on July 15, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 89 similar instances where the indicator turned positive. In of the 89 cases, the stock moved higher in the following days. The odds of a move higher are at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of analytic software solutions for communications interception, digital video security and surveillance, and enterprise business intelligence
Industry PackagedSoftware