VERINT SYSTEMS INC SEC 10-Q Report

Verint Systems Inc., a global leader in customer engagement solutions, has released its Form 10-Q report for the third quarter. The report highlights the company's financial performance and operational activities, providing insights into its revenue streams, profitability, and strategic initiatives aimed at driving future growth.

Financial Highlights

• Total Revenue: $208.1 million, reflecting a decrease from $221.3 million in the prior year period, primarily due to lower nonrecurring revenue.
• Gross Profit: $138.9 million, down from $157.5 million, driven by increased cost of revenue.
• Operating Income: $5.1 million, a significant decline from $24.4 million, impacted by higher operating expenses.
• Net Income: $1.9 million, compared to $15.4 million, influenced by a higher effective tax rate and lower operating income.
• Net (loss) income per common share attributable to Verint Systems Inc.: $(0.04), down from $0.16, due to reduced net income and preferred stock dividends.

Business Highlights

• Revenue Segments: The company derives its revenue primarily from recurring and nonrecurring sources. Recurring revenue includes Software as a Service (SaaS) and support services, while nonrecurring revenue consists of perpetual licenses and professional services.
• Geographical Performance: Verint has a global presence with approximately 15 offices worldwide and a number of on-demand, flexible coworking spaces.
• Future Outlook: The company is focused on increasing customer experience automation through its AI-powered Open Platform, which is expected to drive future growth. The company is also evaluating the impact of new accounting standards and tax regulations, such as the OECD Pillar 2 guidelines, on its operations.

SEC Filing: VERINT SYSTEMS INC [ VRNT ] - 10-Q - Jun. 04, 2025