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Verint Systems surges 10% on Q3 beat & strong guidance

AuthorDavit Kirakosyan
Published 06/12/2023, 23:52
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Verint Systems (NASDAQ:VRNT) shares jumped more than 10% after-hours following the company’s reported Q3 results, with EPS of $0.65 coming in better than the consensus estimate of $0.59.

Revenue fell 3% year-over-year to $219 million, beating the consensus estimate of $215.9M. SaaS ARR increased 11% year-over-year driven by solid bookings and renewals.

“We are pleased to have overachieved our revenue and non-GAAP diluted EPS expectations in Q3 and believe we are on track to complete the year with strong 11% revenue growth in Q4. Our 12 month SaaS pipeline at the end of Q3 was up more than 20% year-over-year and we are pleased with the increase in customer AI adoption with the majority of our Q3 new SaaS ACV bookings including Verint AI-Powered Bots,” said CEO Dan Bodner.

For fiscal 2024, the company expects EPS of $2.65, compared to the consensus estimate of $2.62, and revenue of $910M (+/- 2%), compared to the consensus estimate of $907.31M.

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