Verint, Cognyte's Former Parent, Announces Fourth Quarter Financial Results

Rhea-AI Summary

Verint (Nasdaq: VRNT) reported its fourth quarter and full-year financial results for the period ending January 31, 2021. The announcement includes key financial data from its Cyber Intelligence segment, which is now part of Cognyte (Nasdaq: CGNT). Verint's accounting policies may result in slight differences in the financial results that Cognyte will report in April. The company will hold a conference call later to discuss these results and its future outlook.

Positive

• Cognyte's transition to a standalone entity may offer new growth opportunities.
• Over 1,000 customers in over 100 countries rely on Cognyte's solutions.

Negative

• Verint's financial results may not fully align with Cognyte's due to differing accounting policies.

HERZLIYA, Israel, March 31, 2021 /PRNewswire/ -- Cognyte's (Nasdaq: CGNT) former parent company, Verint (Nasdaq: VRNT) today announced its fourth quarter and full year financial results for the period ending January 31, 2021, including certain financial information for its Cyber Intelligence business which was contributed to Cognyte.                 

Cognyte Fourth Quarter Financial Results Conference Call
Cognyte will hold a conference call in the second half of April to discuss its fourth quarter and full-year financial results (for the quarter and year ended January 31, 2021) and review its outlook. Cognyte will issue a separate press release with information about the conference call.

Note About Verint's Results
Please note that Verint's cyber intelligence segment financial results for the three months and year ended January 31, 2021 reflect Verint's accounting policies. When issued in April, we expect our results to be slightly different due to the application of our accounting allocation methodologies.  

About Cognyte Software
Cognyte (formerly a Verint company) is a global leader in security analytics software that empowers governments and enterprises with Actionable Intelligence for a Safer World™. Our open software fuses, analyzes, and visualizes disparate data sets at scale to help security organizations find the needles in the haystacks. Over 1,000 government and enterprise customers in more than 100 countries rely on Cognyte's solutions to accelerate security investigations and connect the dots to successfully identify, neutralize, and prevent threats to national security, business continuity, and cyber security. Learn more about how we empower our customers to create a safer world with Actionable Intelligence® at www.cognyte.com.

This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Cognyte Software Ltd. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our registration statement on Form 20-F, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Cognyte assumes no obligation to update or revise them or to provide reasons why actual results may differ. COGNYTE, ACTIONABLE INTELLIGENCE, and ACTIONABLE INTELLIGENCE FOR A SAFER WORLD are trademarks of Cognyte Software Ltd. or its subsidiaries. Cognyte and other parties may also have trademark rights in other terms used herein.

View original content to download multimedia:http://www.prnewswire.com/news-releases/verint-cognytes-former-parent-announces-fourth-quarter-financial-results-301259868.html

SOURCE Cognyte

FAQ

What were Verint's fourth quarter financial results for January 31, 2021?

Verint reported its financial results in a press release, detailing the performance of its Cyber Intelligence segment.

When will Cognyte release its financial results?

Cognyte will issue a separate press release and hold a conference call in April to discuss its financial results.

What is the significance of Verint's announcement for Cognyte?

The announcement provides insights into Verint's Cyber Intelligence business, which is now part of Cognyte, offering context for Cognyte's financial performance.

What is the impact of Verint's accounting policies on Cognyte's results?

Verint's accounting policies could cause slight differences in the financial results that Cognyte will report later.