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Verint Announces FYE 2023 Results, Driven by SaaS Offering
In an uncertain economic climate, companies both large and small are continuing to adopt software-as-a-service solutions for customer engagement. Particularly in uncertain times, delivering the best possible service has to be a priority to help retain as much customer revenue as possible. Given current workforce models, companies also continue to invest more than ever in SaaS (News - Alert) solutions.
Customer engagement company Verint announced its financial results last week for the three and nine months ended October 31, 2022 (FYE 2023). Revenue for the three months ended October 31, 2022 was $225 million on a GAAP basis representing 0.2 percent year-over-year growth and $226 million on a non-GAAP basis, representing (0.6) percent year-over-year change and 2.2 percent year-over-year growth on a constant currency basis.
Verint’s (News - Alert) revenue for the nine months ended October 31, 2022 was $666 million on a GAAP basis, representing 4.0 percent year-over-year growth, and $668 million on a non-GAAP basis, representing 3.7 percent year-over-year growth and 6.0 percent year-over-year growth on a constant currency basis. For the three months ended October 31, 2022, net loss per share was ($0.02) on a GAAP basis and diluted EPS was $0.69 on a non-GAAP basis. For the nine months ended October 31, 2022, net loss per share was $(0.21) on a GAAP basis and diluted EPS was $1.77 on a non-GAAP basis.
“I am pleased to report another quarter with continued strong SaaS momentum across key metrics driven by brands looking to close the engagement capacity gap. We had many significant wins from existing and new customers and delivered strong SaaS Revenue growth and New SaaS ACV bookings growth with our bookings mix continuing to shift to SaaS. Revenue came in line with guidance with both gross margins and diluted EPS coming in strong ahead of our prior guidance,” said Dan Bodner, CEO of Verint.
Edited by Erik Linask
