Welcome to our dedicated page for Verint Systems news (Ticker: VRNT), a resource for investors and traders seeking the latest updates and insights on Verint Systems stock.
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 (Nasdaq: VRNT) reported revenue of $236 million for Q4 2023, reflecting a 0.9% year-over-year increase, with full-year revenue reaching $902 million, up 3.2%. Non-GAAP diluted EPS for Q4 was $0.75, exceeding guidance. SaaS revenue grew significantly, up 38% year-over-year, with SaaS Annual Recurring Revenue (ARR) hitting approximately $498 million. The company anticipates SaaS revenue growth of 25% to 30% for FY2024 and has initiated a $200 million stock buyback program. Despite the favorable results, a GAAP net loss per share of $(0.09) for FY2023 raises concerns for investors.
Verint (NASDAQ: VRNT) announces an expanded partnership with Google Cloud to enhance contact center performance through the integration of Google Cloud's Contact Center AI and Verint's Customer Engagement Platform. This collaboration aims to close the Engagement Capacity Gap by leveraging AI-driven CX automation solutions. The Verint Platform's open architecture allows seamless integration with Google Cloud, providing organizations with critical capabilities for improved customer interactions. Furthermore, Verint will offer its Workforce Engagement and CX solutions on the Google Cloud Marketplace, streamlining procurement for clients.
Verint (NASDAQ: VRNT) announced the upcoming Verint Marketplace Technology Showcase on April 19-20, a virtual event to spotlight innovative solutions from partners aimed at enhancing efficiency and customer experience. Verint is committed to fostering collaboration through tools like Verint Connect, which consolidates access to solutions and services. Since the launch of the Partner Program in 2022, the number of participating partners has surged by 104%, with a 194% increase in partner listings on the Verint Marketplace. This event features notable participants including Zoom and Talkdesk, showcasing their contributions to the marketplace.
Verint (NASDAQ: VRNT) has partnered with Eventus Solutions Group, a Tech Mahindra subsidiary, to enhance its Digital-First Engagement solutions for midmarket and enterprise businesses globally. This partnership will enable organizations to optimize customer engagement and improve the digital customer experience (CX). Eventus will provide both technology implementation and consulting services, allowing clients to enhance every customer touchpoint. As consumer preferences shift towards digital channels, Verint's solutions aim to meet growing expectations, incorporating AI and engagement orchestration. This collaboration is set to deepen Verint's existing relationship with Tech Mahindra.
Verint Systems (NASDAQ: VRNT) will hold a conference call on March 29, 2023, at 4:30 p.m. ET to discuss its fourth quarter and full-year financial results for the year ending January 31, 2023. An earnings press release will be issued after the market closes on the same day. The call aims to provide insights into Verint's performance and future outlook. Participants can join via registration on Verint's Investor Relations webpage, which will also feature a real-time webcast with presentation slides.
Verint serves over 10,000 organizations across 180 countries, leveraging AI and analytics to enhance customer engagement.
Verint (NASDAQ: VRNT) has partnered with Carahsoft Technology Corp. to enhance digital transformation in the public sector by distributing Verint’s citizen engagement solutions. This partnership aims to elevate government agencies' customer engagement capabilities as they adapt to growing digital demands, following initiatives like President Biden's Executive Order #14058. Verint's solutions, already FedRAMP authorized, enable real-time insights and improved citizen satisfaction. Carahsoft will distribute these solutions through its extensive reseller network, streamlining access for public sector organizations.
Verint (NASDAQ: VRNT) released its annual global research revealing that one-third of business leaders lack confidence in providing quality customer experiences amid ongoing economic challenges. The study, based on a December 2022 survey of 2,875 leaders across 13 countries, highlights that over 50% foresee labor issues and budget cuts negatively impacting customer engagement efforts this year. However, 67% of respondents expressed high confidence in their organizations' abilities to meet customer demands, noting significant effectiveness in digital engagement and automation strategies. Companies are increasingly investing in digital channels to enhance customer experience.
Verint (NASDAQ: VRNT) has been recognized as a leader in the Contact Center Workforce Optimization (WFO) market for the sixteenth consecutive year in DMG Consulting's 2022-2023 report. Verint achieved perfect scores (5.0) in 11 vendor satisfaction categories and across key WFO/WEM product features. This includes top rankings in implementation, training, and innovation. The report, highlighting increasing demand for effective workforce engagement solutions, emphasizes the importance of adapting customer experiences in a dynamic environment. Verint supports over 10,000 organizations globally, including many Fortune 100 companies, leveraging AI and analytics for enhanced customer engagement.
NoFraud has appointed Scott Gifis as its new CEO, effective immediately. Gifis has a strong track record leading high-growth companies, including Frame.io, which was acquired by Adobe for $1.3 billion. His vision for NoFraud focuses on enhancing the eCommerce experience by reducing friction and fraud, driving growth for merchants. Under his leadership, NoFraud aims to unveil a robust product pipeline and growth strategy in 2023, with existing clients, such as Sony and Monoprice, reporting up to a 5% sales increase post-implementation. Founder Isaac Gurary will transition to a board member role.
Verint (NASDAQ: VRNT) announced that John Bourne, Senior VP of Global Channels and Strategic Alliances, has been named to CRN's 2023 Channel Chiefs list. The selection is based on his record of business innovation and dedication to partners. Under Bourne's leadership, Verint's Partner Program was redesigned in 2022 to facilitate partner growth and expand its ecosystem, including SaaS and consulting partners. Nancy Treaster, Verint's senior VP, expressed pride in Bourne's recognition. The Channel Chiefs list honors IT channel executives advancing channel strategies and is featured in CRN Magazine's February 2023 issue.
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