Leading North American Law Enforcement Agency Places $2M-Plus Follow-On Order with Cognyte

Rhea-AI Summary

Cognyte Software (NASDAQ: CGNT) has secured a follow-on order exceeding $2 million from a leading North American law enforcement agency (LEA). This marks the third order within a year, bringing the total investment to over $3 million. The LEA has replaced its previous provider with Cognyte's investigative analytics software to enhance operational intelligence capabilities, including threat recognition and community safety measures across a wide geographic region. The implementation enables improved search and rescue operations, emergency responses, and crime prevention through advanced technologies and data analysis.

Positive

• Secured new $2M+ follow-on order from North American law enforcement agency
• Total customer investment reached over $3M within one year
• Successfully replaced incumbent provider, indicating competitive advantage
• Expanding presence in North American market

Negative

• None.

Insights

Financial Analyst

This $2M follow-on order represents significant validation for Cognyte's investigative analytics software, bringing the total contract value to over $3M with this key law enforcement customer. The displacement of an incumbent provider and rapid expansion of the contract value within just one year demonstrates strong product-market fit and potential for accelerated growth in the North American market.

The law enforcement sector represents a stable, recurring revenue opportunity as agencies typically maintain long-term relationships with trusted vendors. With a market cap of $500M, this single contract represents meaningful revenue impact. The successful execution and quick follow-on orders suggest potential for both account expansion and new customer acquisition in this sector.

Tech Expert

The rapid adoption and expansion of Cognyte's solutions by a major law enforcement agency highlights the technical superiority of their investigative analytics platform. The key differentiators appear to be:

• Advanced threat recognition capabilities
• Rapid deployment and responsiveness
• Enhanced operational intelligence features
• Improved search and rescue coordination tools

The replacement of an existing vendor suggests Cognyte's technology offers significant advantages in real-world applications, particularly in mission-critical scenarios requiring quick data analysis and emergency response coordination.

Agency places third order for Cognyte’s advanced solutions, replacing incumbent

HERZLIYA, Israel--(BUSINESS WIRE)-- Cognyte Software Ltd. (NASDAQ: CGNT) (“Cognyte”), a global leader in investigative analytics software, today announced it has received an additional follow-on order totaling over $2 million, from a leading North American law enforcement agency (LEA). This marks another milestone in the growing collaboration, initiated just one year ago. Including this latest order, the customer’s total investment has reached over $3 million, underscoring its trust in Cognyte’s solutions to address its operational needs.

The LEA has replaced its incumbent provider, investing in Cognyte’s technology to unlock meaningfully better operational intelligence capabilities. These include timely recognition of threats to ensure the safety of communities across a wide geographic region. This continued collaboration underscores the LEA’s trust in Cognyte’s superior technology, which delivers rapid responsiveness and deployment agility.

The customer is now better equipped to tackle its mission-critical activities with enhanced precision and efficiency, including search and rescue operations, emergency responses and crime prevention. By leveraging advanced technologies and data analysis, the LEA has significantly improved the effectiveness and agility of its operations, enhancing the safety and security of the community it serves.

“Cognyte is proud to serve as a partner for this highly respected and influential customer in the law enforcement sector, delivering proven capabilities critical to safeguarding the public,” said Efi Nuri, Chief Revenue Officer at Cognyte. “This latest order, following closely on the heels of previous agreements, reinforces the agency’s ongoing trust, and the impact of our solutions. It also reflects Cognyte’s unwavering commitment to innovative technology and exceptional service. Moreover, this agreement marks a significant milestone in advancing Cognyte’s growth strategy and strengthening our footprint in the North American market.”

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.

Cautionary Statement Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions.

Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the slate of director nominees Cognyte has nominated, the projected growth of Cognyte’s business, and Cognyte’s ability to achieve its financial and business plans, goals and objectives and drive shareholder value, including with respect to its ability to successfully implement its strategy, and other risk factors discussed from time to time in Cognyte’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 20-F, filed with the Securities and Exchange Commission (“SEC”) on April 9, 2024, as amended on April 19, 2024 and in subsequent reports filed with or furnished to the SEC. Cognyte assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241121974917/en/

Media Relations Contact:

Michelle Allard McMahon

Rainier Communications on behalf of Cognyte Software

prcognyte@rainierco.com

Source: Cognyte Software Ltd.

FAQ

What is the value of Cognyte's (CGNT) latest order from the North American law enforcement agency?

The latest follow-on order from the North American law enforcement agency exceeds $2 million.

How much has the North American law enforcement agency invested in Cognyte (CGNT) solutions in total?

The total investment from the law enforcement agency has reached over $3 million within one year.

What capabilities does Cognyte (CGNT) provide to the North American law enforcement agency?

Cognyte provides operational intelligence capabilities, including threat recognition, search and rescue operations, emergency responses, and crime prevention through advanced technologies and data analysis.