Verint Systems Inc - VRNT STOCK NEWS

Verint (VRNT) reported Q3 FYE 2025 results with revenue of $224 million, showing 3% year-over-year growth (5% adjusted for divestiture). The company's bundled SaaS revenue grew 19% year-over-year, while SaaS ARR increased by 11%.

Q3 highlights include gross margin improvement of ~70bps year-over-year and new SaaS ACV bookings for new deals increasing 37% year-over-year. The company maintains its FYE 2025 guidance with expected revenue of $933 million (±2%) and non-GAAP diluted EPS of $2.90.

Strong AI momentum and customer adoption of Verint's CX Automation Platform contributed to the quarter's performance, with the company reporting early renewal revenue driving overachievement of Q3 guidance.

Verint (NASDAQ: VRNT) has announced a new CX/EX Scoring Bot as part of their Agent Copilot Bots suite, running on the Verint Open Platform. This innovative bot provides real-time customer experience (CX) and employee experience (EX) scoring, offering immediate insights instead of traditional post-interaction surveys.

The bot utilizes proprietary AI models to analyze customer experience, agent satisfaction, and emotional connections during interactions. A major hospitality company has already implemented the bot, reporting improvements in customer and employee experience levels, along with reduced attrition rates.

This addition complements existing Verint solutions like the Knowledge Automation Bot, which reduces call length by approximately 45 seconds, and the Wrap Up Bot, which saves about 60 seconds per call through automated summaries.

Verint (NASDAQ: VRNT) celebrated customer excellence at the 2024 EMEA Inspire Awards in London on November 21, recognizing organizations for their achievements in customer experience (CX) and employee experience (EX) automation. The ceremony honored 26 winners across eight categories, highlighting successful implementations of CX Automation, AI, and analytics. Notable platinum winners included Tryg for Best AI Augmented Workforce, Sky Italia for Innovating with AI & Analytics, Florius for CX Automation Champion, ASDA Mobile for Supercharged Self-Service, and Capitec Bank for Engaged Customer of the Year 2024.

Verint announced that a major U.S. travel services company implemented their AI-powered Intelligent Voice Assistant (IVA) to replace legacy telephony IVR systems. The implementation led to a significant increase in self-service containment, rising from 10% to 50% of telephony traffic within the first month. This improvement resulted in $10 million in annual savings. The company handles 4 million calls annually and the new IVA system provides enhanced intent recognition and integrations with back-end systems like CRM and location services to better handle customer inquiries.

Verint (NASDAQ: VRNT) has announced its participation in four upcoming investor events spanning from November 2023 to January 2024. The events include the Oppenheimer AI Impact on Cloud and Communications Summit (November 14-15), Needham & Company 14th Annual SaaS 1x1 Conference (November 21), Barclays 22nd Annual Global Technology Conference (December 12), and Evercore ISI's 6th Annual 'Off to a Running Start' Virtual Bus Tour (January 8).

Verint (NASDAQ: VRNT) announced that a major telecommunications client achieved $10.5 million in annual savings by implementing their Intelligent Virtual Assistant (IVA) for contact center operations. The telecom company, handling over 7 million calls annually, replaced traditional IVR technology with Verint's AI-powered solution, resulting in improved self-service containment rates exceeding 50% overall and reaching 80% for billing-specific calls. The system successfully manages 3.5 million calls without human agent intervention, leveraging conversational AI that continuously learns from the organization's engagement data.

RingCentral (NYSE: RNG) and Verint (NASDAQ: VRNT) have announced a strategic partnership to enhance RingCX customers' experiences with AI-powered Workforce Engagement Management (WEM) and Customer Experience (CX) automation. This collaboration aims to improve employee productivity and customer satisfaction through Verint's leading WEM and CX solutions, complementing RingCentral's AI capabilities. Key benefits for RingCX customers include enhanced interaction analytics, forecasting, scheduling, AI automation for routine tasks, intelligent virtual agents for 24x7 support, and centralized knowledge management. The partnership is expected to drive competitive advantage and operational efficiency, benefiting a broad range of sophisticated contact center use cases.

Verint (VRNT) has announced key upcoming investor events. The company will hold its third quarter conference call on Wednesday, December 4, 2024, at 4:30 p.m. ET, following the release of its earnings report after market close. The call will review Q3 financial results for the period ending October 31, 2024, and discuss outlook.

Additionally, Verint plans to host a virtual Investor Day in January 2025, where it will present its CX Automation Solutions, AI momentum, and financial model. The Q3 conference call will be accessible via webcast with presentation slides on Verint's Investor Relations page, and participants can register to receive dial-in details.

Verint (VRNT) has secured an $11 million contract from a leading bank to implement its AI-powered Agent Copilot Bot across their contact center operations. The system will support 6,500 agents who handle approximately 400 million customer call minutes annually. Following a successful pilot program, the bank projects annual savings in the tens of millions of dollars. The AI bot operates in the background during calls, providing real-time assistance, coaching, and guidance to agents.