Cognyte Strengthens Relationship with National Intelligence Organization, Secures Approximately $5 Million Follow-On Order

Rhea-AI Summary

Cognyte Software (NASDAQ: CGNT) received a $5 million order from a national intelligence organization in the EMEA region, marking the third order in a year. The ongoing partnership showcases confidence in Cognyte's solutions, highlighting the company's technological superiority and ability to enhance operational efficiency. The company's commitment to meeting customer needs and addressing evolving challenges drives growth opportunities.

Positive

• Cognyte received a $5 million follow-on order from a national intelligence organization in the EMEA region, indicating trust and confidence in the company's solutions.

• The ongoing partnership and third order within a year demonstrate the effectiveness and superiority of Cognyte's technology in preventing threats during operations.

• The consistent delivery of value to the customer aligns with their evolving needs, showcasing Cognyte's commitment to customer satisfaction and addressing growing challenges.

• The partnership expansion and further collaboration with the customer reflect the potential for driving growth and creating substantial value for operational teams.

Negative

• None.

Ongoing partnership and third order underscores confidence in Cognyte solutions

HERZLIYA, Israel--(BUSINESS WIRE)-- Cognyte Software Ltd. (NASDAQ: CGNT) (“Cognyte”), a global leader in investigative analytics software, today announced that it received an approximately $5 million additional order from a national intelligence organization in the Europe-Middle East-Africa (EMEA) region, for its solution that helps identify and prevent threats during operations.

Including this latest order, Cognyte has received three orders from this customer over the past year, serving as a testament to the superiority of the company’s technology. Through ongoing delivery of effective results, Cognyte’s solutions enhance operational efficiency and create substantial value for the customer’s operational teams.

“We have consistently delivered value to this customer with solutions that align to their evolving needs,” said Efi Nuri, Cognyte’s chief revenue officer. “The effectiveness of our technology, coupled with our ability to provide solutions that address the growing challenges our global customers face, continues to open opportunities for driving growth. We are pleased to expand our partnership with this customer and look forward to further collaboration.”

About Cognyte Software Ltd.

Cognyte Software Ltd. is a global leader in investigative analytics software that empowers a variety of government and other organizations with Actionable Intelligence for a Safer World™. Our open interface software is designed to help customers accelerate and improve the effectiveness of investigations and decision-making. Hundreds of customers rely on our solutions to accelerate and conduct investigations and derive insights, with which they identify, neutralize, and tackle threats to national security and address different forms of criminal and terror activities. Learn more at www.cognyte.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240508670666/en/

Investor Relations:

Dean Ridlon

Cognyte Software Ltd.

IR@cognyte.com

Media:

Michelle Allard McMahon

Rainier Communications

prcognyte@rainierco.com

Source: Cognyte Software Ltd.

FAQ

What is the latest announcement from Cognyte?

Cognyte received an approximately $5 million additional order from a national intelligence organization in the EMEA region.

How many orders has Cognyte received from the customer over the past year?

Cognyte has received three orders from the customer over the past year.

What is the significance of the partnership between Cognyte and the national intelligence organization?

The partnership reflects confidence in Cognyte's solutions, showcasing their technological superiority and ability to enhance operational efficiency.

Who is Cognyte's chief revenue officer and what did they say about the partnership?

Efi Nuri is Cognyte's chief revenue officer, and they mentioned that they have consistently delivered value to the customer with solutions that align to their evolving needs.

What does the partnership expansion indicate?

The partnership expansion indicates potential for driving growth and creating substantial value for operational teams.