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), The CX Automation Company™, has announced that contact centers across multiple industries are deploying Verint Bots to identify optimal upsell and cross-sell opportunities, resulting in significant sales momentum and revenue generation. The AI-powered bots have shown impressive results:
1. An automotive retailer using Verint Exact Transcription Bot and Quality Bot expects to increase customer propensity to buy by up to 90%.
2. A large bank saw upsell offers increase by 62% and sales grow by 48% across 500 agents in just two months using the Verint Coaching Bot.
3. A financial firm experienced a 15% boost in insurance product sales within three months using Verint Speech Analytics, Quality Bots, and Coaching Bots.
These implementations are generating millions of dollars in revenue for Verint's customers, demonstrating the rapid and strong AI business outcomes achievable with Verint's technology.
Verint (NASDAQ: VRNT) has been recognized as a top knowledge management category leader in a recent ISG Research report. The company ranked first among 11 vendors in the Knowledge Management (KM) Buyers Guide, excelling in Product Experience with top ratings in capability, reliability, and usability categories.
Keith Dawson, research director at ISG Research, emphasized the importance of AI in customer support and its role in amplifying knowledge management. Heather Richards, Verint's global VP of Go-To-Market Strategy, highlighted that Verint Knowledge Management powered by AI is important for contact center agents and self-service bots, delivering strong AI business outcomes and immediate ROI.
This recognition underscores Verint's position as a leader in CX automation and knowledge management solutions.
Verint (NASDAQ: VRNT) has been recognized as a customer experience category leader in a recent ISG Research report. The company's Open Platform, powered by behavioral data and Verint Da Vinci AI, ranked in the top three across two categories: Product Experience (Reliability and Usability) and Customer Experience. Verint was also cited as an 'exemplary' vendor in meeting overall product and customer experience criteria.
The ISG report highlights the shift from traditional CRM to Customer Experience Management (CXM), which focuses on interactions across the customer journey. Verint's approach to achieving AI business outcomes for customers has been validated, emphasizing cost reduction, enhanced customer experience, and immediate value delivery.
Verint (Nasdaq: VRNT), The CX Automation Company, has announced a new $200 million stock buyback program authorized by its board of directors. The program will run from August 29, 2024, to August 29, 2026. Verint may use various methods for repurchases, including open market purchases, accelerated stock repurchase plans, and Rule 10b5-1 or Rule 10b-18 compliant repurchase plans. The company will consider prevailing stock prices, market conditions, and other factors when determining the timing, price, and size of purchases. The program is flexible, allowing for extension, suspension, or discontinuation without prior notice, and does not obligate Verint to acquire any specific amount of common stock.
Verint (VRNT) reported Q2 FYE 2025 results, highlighting strong AI momentum with AI bookings increasing over 40% year-over-year. Revenue was $210 million, flat year-over-year on a reported basis but up 3% when adjusted for a divestiture. Bundled SaaS revenue grew 15% year-over-year, driven by AI. Diluted EPS was $0.02 on a GAAP basis and $0.49 on a non-GAAP basis, reflecting 3% year-over-year growth.
The company maintained its FYE 2025 outlook, expecting 5% adjusted revenue growth to $933 million (+/- 2%) and 10% adjusted EBITDA growth. Verint's CEO emphasized the company's success in delivering 'AI Business Outcomes, Now'™, positioning them well for strong AI bookings growth in the second half of the year and accelerating revenue growth over time.
Verint (NASDAQ: VRNT) has announced the lineup of industry-leading analysts speaking at Engage 2024, its premier annual customer engagement conference. The event, scheduled for September 23-25, 2024, in Orlando, Florida, will focus on CX automation and AI business outcomes. Jay McBain from Canalys will headline the Partner Summit, while other notable speakers include analysts from Constellation Research, COMMfusion, DMG Consulting, and more.
The conference will feature over 50 sessions covering topics such as AI in contact centers, employee experience, behavioral data, and practical trends in AI and CX. Attendees will gain insights from industry experts, major brands, and Verint solution specialists on solving pressing business challenges with AI.
Verint (NASDAQ: VRNT) announced a significant expansion of its Interaction Wrap Up Bot deployment by a major healthcare provider. The AI-powered bot, which automates call wrap-up work and summarizes customer-agent dialogues, will now be used by 30,000 agents, up from the initial 300-agent deployment earlier this year. This expansion comes after the bot demonstrated tangible AI business outcomes in just a few months.
Jaime Meritt, Verint's chief product officer, highlighted that the bot can reduce average call duration by 30 seconds, potentially saving organizations millions of dollars annually. The order for this expansion was received in Verint's 2024 fiscal second quarter, marking a substantial growth in the adoption of Verint's CX automation technology.
Verint (NASDAQ: VRNT) has announced it will release its second quarter financial results for the period ending July 31, 2024, on Wednesday, September 4, 2024. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results and provide an outlook. Interested parties can access the call through Verint's Investor Relations webcast page, where a real-time webcast with presentation slides will be available. Participants are encouraged to register for the call in advance to receive dial-in numbers and a unique PIN. The earnings press release will be issued after the market closes on September 4th.
Verint (NASDAQ: VRNT), a CX Automation company, has announced significant success in combating self-service fraud using its AI-powered Call Risk Scoring Bot. A business process outsourcer (BPO) utilizing this technology reported blocking $6 million in fraudulent attempts on a state unemployment insurance payment system in July 2024 alone. The bot, part of Verint's Open Platform, proactively analyzes customer behavior data to detect and mitigate fraudulent patterns before they occur.
David Singer, Verint's global vice president of Go-to-Market, emphasized the bot's effectiveness in protecting both consumers and taxpayer dollars. This breakthrough demonstrates the tangible business outcomes achievable through AI-driven fraud prevention in self-service systems, particularly in high-risk areas like unemployment insurance programs.
Verint (NASDAQ: VRNT), a leader in CX Automation, announced a significant improvement in a leading bank's contact center Net Promoter Score® (NPS). The bank's NPS improved twelvefold via Verint's AI-powered Quality Bot and Coaching Bot.
The Quality Bot automates quality processes, offering a consistent view of performance, while the Coaching Bot provides real-time assistance to agents handling complex mortgage queries. This combination enhanced the bank's customer experience (CX), elevating its NPS from 3 to 39 points.
Verint's David Singer, Global VP, stated that these bots help brands focus on customer engagement and satisfaction through Verint's Open Platform and best-in-class AI automation.
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