Cognyte Software Stock Price, News & Analysis

Cognyte Software (NASDAQ: CGNT), a leader in investigative analytics software, announced its participation in the Needham Virtual Infrastructure, Data Analytics Software, & Cloud Communications Conference. CEO Elad Sharon and CFO David Abadi will conduct a virtual fireside chat on November 20, 2024, at 8:45 am ET. The discussion will be available via live webcast and replay on Cognyte's investor relations website.

Cognyte Software (NASDAQ: CGNT) has secured a one-year support agreement worth over $20 million with a national security agency in the EMEA region. The agreement focuses on providing advanced AI solutions and investigative analytics capabilities to enhance the agency's security initiatives. The customer, a longstanding partner, will receive comprehensive software support services and updates to strengthen their public safety and anti-terror operations. The solution aims to help the agency tackle growing data volumes and increasing operational demands while maintaining scalability for future challenges.

Cognyte Software (NASDAQ: CGNT) has been recognized for its AI-driven threat intelligence solution, LUMINAR, in the 2024 Gartner® Emerging Tech: The Future of Cyberthreat Intelligence research. The report highlights the growing importance of AI and GenAI in enhancing TI solutions with automated search and reporting capabilities.

Gartner predicts that by 2027, AI/GenAI will significantly improve TI solutions, addressing the challenges faced by security operations teams due to skills and resources. Cognyte's LUMINAR solution integrates advanced generative AI technologies, positioning it as one of the few cutting-edge offerings in the market.

Gil Cohen, Chief Product Officer at Cognyte, emphasized the company's commitment to delivering exceptional value and support to customers in managing complex cybersecurity tasks. This recognition underscores Cognyte's ongoing efforts to innovate and stay ahead in the rapidly evolving field of cyberthreat intelligence.

Cognyte Software (NASDAQ: CGNT) reported strong Q2 FYE25 results, with revenue increasing to $84.4 million, up from $77.1 million in Q2 FYE24. The company's gross margin improved to 70.6% GAAP and 71.3% non-GAAP. For H1 FYE25, revenue grew by 11% to $167.1 million. Cognyte's AI-driven solutions are driving follow-on orders and new customer acquisitions. The company has raised its FYE25 guidance, projecting revenue of $347 million at the midpoint, representing approximately 11% growth from the previous year. Adjusted EBITDA is expected to be around $25 million at the midpoint of the revenue outlook.

Cognyte Software (NASDAQ: CGNT) announced the results of its Fiscal Year 2025 Annual Meeting of Shareholders. Shareholders reelected both company nominees, Chairman Earl Shanks and CEO Elad Sharon, to the Board of Directors with significant majority support. The proposal to approve amendments to the CEO's compensation plan was also supported.

Cognyte expressed gratitude for shareholder engagement and pledged to enhance Board composition and provide additional disclosures in the coming months. The company will report the results of the FY2025, FY2024, and FY2023 Annual Meetings on a Form 6-K to be filed with the SEC, available on their investor relations website and sec.gov.

Value Base, Cognyte Software's largest shareholder (9.33% stake), announces support from Neuberger Berman (7.16% stake) for its proposals at the upcoming AGM. Both major shareholders advocate for:

• Voting AGAINST Chairman Earl Shanks' re-election
• Voting AGAINST the CEO compensation plan
• Voting FOR Tal Yaacobi's election to the board

Neuberger Berman cites concerns over Cognyte's lack of standard software industry KPIs, poor stock performance (>70% decline since 2021 listing), and inadequate board expertise. Value Base urges shareholders to support these proposals, emphasizing the need for change due to the 75% share price decline during Shanks' tenure.

Cognyte Software (NASDAQ: CGNT), a leader in investigative analytics software, has announced a conference call on September 10, 2024, at 8:30 a.m. ET to review its second quarter FYE25 financial results for the quarter ending July 31, 2024. An earnings press release will be issued before the call. The company will host a real-time webcast with presentation slides in the Investor Relations section of their website. To participate in the Q&A session, interested parties must register to receive dial-in numbers and a unique PIN. It's recommended to join 10 minutes before the event starts, although registration and dial-in are available throughout the call.

EMDA Research, an Israeli proxy advisor, has recommended its institutional clients vote FOR Tal Yaacobi's election and AGAINST Chairman Earl Shanks' re-election to Cognyte Software's (NASDAQ: CGNT) board at the upcoming 2024 Annual Meeting on September 4, 2024. EMDA also advised voting AGAINST the CEO Compensation Plan.

Value Base, Cognyte's largest shareholder with a 9.33% stake, supports EMDA's recommendations. They emphasize the urgency of replacing Chairman Shanks, citing a 75% decline in share price during his tenure. Due to Cognyte's staggered board structure, shareholders won't have another opportunity to vote on Shanks' position until 2027 if he's re-elected.

Value Base urges shareholders to vote FOR Tal Yaacobi's election and related approvals, and AGAINST Earl Shanks' re-election and the CEO compensation plan.

Cognyte Software (NASDAQ: CGNT) has issued a letter to shareholders highlighting recent progress and reaffirming commitments. The Board urges shareholders to vote 'For' Chairman Earl Shanks and CEO Elad Sharon, as well as 'For' the proposal to approve amendments to the CEO's compensation plan at the upcoming Annual Meeting on September 4, 2024.

Key points include:

• 55% total shareholder return over the last 12 months
• Raised guidance for fiscal year 2025
• Commitment to add a U.S.-based director with relevant experience
• Plans to enhance disclosure of key performance indicators
• Support from Institutional Shareholder Services (ISS) for Board recommendations
• CEO compensation program is approximately 80% at-risk

The Board opposes Value Base Fund's attempt to replace Mr. Shanks with Tal Yaacobi, citing concerns about disrupting the company's momentum.