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Verint Systems Inc. (VRNT) reported its earnings for the three months ended July 31, 2024, with revenue at $210 million, which remained flat year-over-year on a reported basis but showed a 3% growth when adjusted for the divestiture of its quality managed services business on January 31, 2024. The company reported a Q2 EPS of $0.49 excluding items, missing the FactSet estimate of $0.53. Revenue also fell short of the FactSet estimate of $212.8 million. Adjusted EBITDA came in at $50.5 million, below the FactSet estimate of $53.2 million. Additionally, Verint announced a share buyback program of up to $200 million. Despite these measures, the stock saw a pre-market decline of 13.8%.
Not much in the $VRNT rpt to sink your teeth into- that said, most of the decline was mult compression, but they also have to deliver on a slightly more backend loaded year; took matters into their own hands this AM w/ new 200M repo which is ~10% accretive https://t.co/rij364TRoR
$VRNT (-13.8% pre) Verint Systems Q2 Profit Misses View, To Buy Back Up To $200 Mln Of Shares; Stock Down - rtt https://t.co/HqTkWrF0Vj
$BASE subscale fin model basically in-line tweaking up OMs but continued decel revs closer to 11% and ARR headed to mid teens; $VRNT light report and guide for the year (very slightly) but a lot going on under the covers to dig into with Saas bookings as % of mix