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Verint Systems Inc. (NASDAQ: VRNT) is a global leader in actionable intelligence® solutions. Founded in 1994 and headquartered in Melville, New York, Verint specializes in providing solutions that help organizations make timely and effective decisions. With over 4,800 dedicated professionals and offices worldwide, Verint serves more than 10,000 organizations in over 180 countries, including over 80 percent of the Fortune 100.
Verint's core business revolves around three critical challenges:
- Customer Engagement Optimization: Solutions that enhance customer experiences by capturing valuable data and using analytics to provide actionable insights.
- Security Intelligence: Systems designed to improve security measures and ensure safer environments.
- Fraud, Risk, and Compliance: Tools that assist in identifying and mitigating risks, preventing fraud, and ensuring regulatory compliance.
Verint's comprehensive solutions enable organizations to gather vast amounts of information from various data types and sources. The company employs advanced analytics to transform this data into actionable intelligence, facilitating improved customer engagement, enhanced security, and effective risk management. Recent achievements include expanding their product portfolio and forging strategic partnerships to enhance their service offerings.
Verint's value-added services are tailored to meet the needs of organizations across different industries, making it easier for them to bridge the gap between limited resources and increasing customer expectations. The company's innovative solutions have proven pivotal in driving enterprise performance improvements and making the world a safer place.
For investors and stakeholders looking for the latest updates and relevant information on Verint's performance, the company actively shares news and developments that highlight their ongoing projects and achievements.
Verint (VRNT), The CX Automation Company, is hosting an Investor Day to discuss its CX market evolution and AI monetization strategy. The company highlights its platform offering over 50 AI-powered bots designed to automate specific CX workflow steps, delivering strong business outcomes for customers.
The company has completed its transition to a subscription model, with approximately 80% of total revenue coming from subscription offerings. Verint introduces Subscription ARR metrics and provides outlook for FY2026, targeting 8% ARR growth to $760 million and double-digit free cash flow growth.
For FY2025, Verint forecasts revenue of $933 million (+/- 2%), reflecting 5% year-over-year growth, and diluted EPS of $2.90, showing 6% year-over-year growth. The company's AI monetization strategy focuses on gradual customer adoption, enabling incremental consumption and revenue growth over time.
Verint (NASDAQ: VRNT) has confirmed its upcoming Investor Day scheduled for January 14, 2025, from 10:30 AM to 12:30 PM ET. The virtual event will feature Verint management discussing several key topics, including:
- Evolution of the CX Automation market
- Verint's AI momentum
- Customer reported AI business outcomes
- Initial guidance for FYE26
- Long-term financial model
The two-hour event will conclude with a Q&A session. Interested participants can register online to receive dial-in details and access the event through Verint's Investor Relations webcast page.
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.
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