Strong Q1 Results Across Key Metrics including Revenue, EPS and Cash
Flow.
Raising Guidance for FY2020
Introducing New Three Year Targets
MELVILLE, N.Y.–(BUSINESS WIRE)–Verint® Systems Inc. (NASDAQ:VRNT), a
global Actionable Intelligence® leader, today announced
results for the three months ended April 30, 2019 (FY2020).
“We are pleased to have started the year strong with continued business
momentum. Our first quarter results were ahead of our guidance, for both
revenue and EPS, and we are well positioned for a year of double-digit
revenue and EPS growth, on a non-GAAP basis. We are also pleased with
our 55% increase in cash from operations, to $93 million in Q1,
demonstrating the underlying strength in our business. We believe our
strong results reflect the execution of our strategy to accelerate
innovation that we started two years ago, and that this strategy will
enable us to sustain growth over the long-run. We are also pleased to be
in a position to raise our guidance for the current fiscal year, and to
introduce new three-year targets,” said Dan Bodner, CEO.
FY2020 Financial Highlights (Three Months Ending April 30, 2019,
Compared to Prior Year)
| GAAP | Non-GAAP | |
| Revenue of $315 million, up 9.0% | Revenue of $324 million, up 11.0% | |
| Gross margin of 63.8%, up 320bps | Gross margin of 67.4%, up 350bps | |
| Operating income of $14 million, up 86% | Operating income of $62 million, up 35% | |
| Operating margin of 4.6%, up 190bps | Operating margin of 19.2%, up 340bps | |
| Diluted EPS of $0.02, vs. ($0.03) in FY19 | Diluted EPS of $0.73, up 38.0% | |
| Cash flow from operations of $93 million, up 55% | ||
Financial Outlook for FY2020 (Year Ending January 31, 2020)
Today, we are raising our non-GAAP outlook for revenue and EPS for the
year ending January 31, 2020 as follows:
-
Revenue: Increasing by $5 million to $1.375 billion with a range of
+/- 2%- Reflects 10.5% year-over-year growth
-
EPS: Increasing by 5 cents to $3.65 at the midpoint of our revenue
guidance- Reflects 14% year-over-year growth
Three Year Targets (Year Ending January 31, 2022)
Today, we are introducing non-GAAP targets for revenue and EPS for the
year ending January 31, 2022 as follows:
-
Revenue: $1.65 billion
- Reflects 10% CAGR
-
EPS: $4.70
- Reflects 14% CAGR
Our non-GAAP outlook for the year ending January 31, 2020 excludes the
following GAAP measures which we are able to quantify with reasonable
certainty:
- Amortization of intangible assets of approximately $55 million.
-
Amortization of discount on convertible notes of approximately $12
million.
Our non-GAAP outlook for the year ending January 31, 2020 excludes the
following GAAP measures for which we are able to provide a range of
probable significance:
-
Revenue adjustments are expected to be between approximately $24
million and $26 million. -
Stock-based compensation is expected to be between approximately $73
million and $77 million, assuming market prices for our common stock
approximately consistent with current levels.
Our non-GAAP outlook does not include the potential impact of any
in-process business acquisitions that may close after the date hereof,
and, unless otherwise specified, reflects foreign currency exchange
rates approximately consistent with current rates.
We are unable, without unreasonable efforts, to provide a reconciliation
for other GAAP measures which are excluded from our non-GAAP outlook,
including the impact of future business acquisitions or acquisition
expenses, future restructuring expenses, and non-GAAP income tax
adjustments due to the level of unpredictability and uncertainty
associated with these items. For these same reasons, we are unable to
assess the probable significance of these excluded items. While
historical results may not be indicative of future results, actual
amounts for the three months ended April 30, 2019 and 2018 for the GAAP
measures excluded from our non-GAAP outlook appear in Table 3 to this
press release.
Our non-GAAP Consolidated, Customer Engagement, and Cyber Intelligence
three-year targets exclude various GAAP measures, including:
- Amortization of intangible assets.
- Stock-based compensation expenses.
- Revenue adjustments.
- Acquisition expenses.
- Restructuring expenses.
Our non-GAAP Consolidated three-year targets also reflect income tax
provisions on a non-GAAP basis.
We are unable, without unreasonable efforts, to provide a reconciliation
for these GAAP measures which are excluded from our non-GAAP
Consolidated, Customer Engagement, and Cyber Intelligence three-year
targets, due to the level of unpredictability and uncertainty associated
with these items. For these same reasons, we are unable to assess the
probable significance of these excluded items.
Our non-GAAP Consolidated, Customer Engagement, and Cyber Intelligence
three-year targets reflect foreign currency exchange rates approximately
consistent with current rates.
Conference Call Information
We will conduct a conference call today at 4:30 p.m. ET to discuss our
results for the three months ended April 30, 2019 and outlook. An
online, real-time webcast of the conference call will be available on
our website at www.verint.com.
The conference call can also be accessed live via telephone at
1-844-309-0615 (United States and Canada) and 1-661-378-9462
(international) and the passcode is 8290147. Please dial in 5-10 minutes
prior to the scheduled start time.
About Non-GAAP Financial Measures
This press release and the accompanying tables include non-GAAP
financial measures. For a description of these non-GAAP financial
measures, including the reasons management uses each measure, and
reconciliations of non-GAAP financial measures presented for completed
periods to the most directly comparable financial measures prepared in
accordance with GAAP, please see the tables below as well as
“Supplemental Information About Non-GAAP Financial Measures” at the end
of this press release.
About Verint Systems Inc.
Verint® (Nasdaq: VRNT) is a global leader in Actionable
Intelligence® solutions with a focus on customer engagement
optimization and cyber intelligence. Today, over 10,000 organizations in
more than 180 countries—including over 85 percent of the Fortune
100—count on intelligence from Verint solutions to make more informed,
effective and timely decisions. Learn more about how we’re creating A
Smarter World with Actionable Intelligence® at www.verint.com.
Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including
statements regarding expectations, predictions, views, opportunities,
plans, strategies, beliefs, and statements of similar effect relating to
Verint Systems Inc. These forward-looking statements are not guarantees
of future performance and they are based on management’s expectations
that involve a number of known and unknown risks, uncertainties,
assumptions, and other important factors, any of which could cause our
actual results or conditions to differ materially from those expressed
in or implied by the forward-looking statements. Some of the factors
that could cause our actual results or conditions to differ materially
from current expectations include, among others: uncertainties regarding
the impact of general economic conditions in the United States and
abroad, particularly in information technology spending and government
budgets, on our business; risks associated with our ability to keep pace
with technological changes, evolving industry standards and challenges,
to adapt to changing market potential from area to area within our
markets, and to successfully develop, launch, and drive demand for new,
innovative, high-quality products that meet or exceed customer needs,
while simultaneously preserving our legacy businesses and migrating away
from areas of commoditization; risks due to aggressive competition in
all of our markets, including with respect to maintaining revenues,
margins, and sufficient levels of investment in our business and
operations; risks created by the continued consolidation of our
competitors or the introduction of large competitors in our markets with
greater resources than we have; risks associated with our ability to
successfully compete for, consummate, and implement mergers and
acquisitions, including risks associated with valuations, reputational
considerations, capital constraints, costs and expenses, maintaining
profitability levels, expansion into new areas, management distraction,
post-acquisition integration activities, and potential asset
impairments; risks relating to our ability to properly manage
investments in our business and operations, execute on growth
initiatives, and enhance our existing operations and infrastructure,
including the proper prioritization and allocation of limited financial
and other resources; risks associated with our ability to retain,
recruit, and train qualified personnel in regions in which we operate,
including in new markets and growth areas we may enter; risks that we
may be unable to establish and maintain relationships with key
resellers, partners, and systems integrators and risks associated with
our reliance on third-party suppliers, partners, or original equipment
manufacturers (“OEMs”) for certain components, products, or services,
including companies that may compete with us or work with our
competitors; risks associated with the mishandling or perceived
mishandling of sensitive or confidential information, including
information that may belong to our customers or other third parties, and
with security vulnerabilities or lapses, including cyber-attacks,
information technology system breaches, failures, or disruptions; risks
that our products or services, or those of third-party suppliers,
partners, or OEMs which we use in or with our offerings or otherwise
rely on, including third-party hosting platforms, may contain defects,
develop operational problems, or be vulnerable to cyber-attacks; risks
associated with our significant international operations, including,
among others, in Israel, Europe, and Asia, exposure to regions subject
to political or economic instability, fluctuations in foreign exchange
rates, and challenges associated with a significant portion of our cash
being held overseas; risks associated with political factors related to
our business or operations, including reputational risks associated with
our security solutions and our ability to maintain security clearances
where required as well as risks associated with a significant amount of
our business coming from domestic and foreign government customers;
risks associated with complex and changing local and foreign regulatory
environments in the jurisdictions in which we operate, including, among
others, with respect to trade compliance, anti-corruption, information
security, data privacy and protection, tax, labor, government contracts,
relating to both our own operations as well as the use of our solutions
by our customers; challenges associated with selling sophisticated
solutions, including with respect to assisting customers in
understanding and realizing the benefits of our solutions, and
developing, offering, implementing, and maintaining a broad and
sophisticated solution portfolio; challenges associated with pursuing
larger sales opportunities, including with respect to longer sales
cycles, transaction reductions, deferrals, or cancellations during the
sales cycle, risk of customer concentration, our ability to accurately
forecast when a sales opportunity will convert to an order, or to
forecast revenue and expenses, and increased volatility of our operating
results from period to period; risks that our intellectual property
rights may not be adequate to protect our business or assets or that
others may make claims on our intellectual property, claim infringement
on their intellectual property rights, or claim a violation of their
license rights, including relative to free or open source components we
may use; risks that our customers or partners delay or cancel orders or
are unable to honor contractual commitments due to liquidity issues,
challenges in their business, or otherwise; risks that we may experience
liquidity or working capital issues and related risks that financing
sources may be unavailable to us on reasonable terms or at all; risks
associated with significant leverage resulting from our current debt
position or our ability to incur additional debt, including with respect
to liquidity considerations, covenant limitations and compliance,
fluctuations in interest rates, dilution considerations (with respect to
our convertible notes), and our ability to maintain our credit ratings;
risks arising as a result of contingent or other obligations or
liabilities assumed in our acquisition of our former parent company,
Comverse Technology, Inc. (“CTI”), or associated with formerly being
consolidated with, and part of a consolidated tax group with, CTI, or as
a result of the successor to CTI’s business operations, Mavenir, Inc.,
being unwilling or unable to provide us with certain indemnities to
which we are entitled; risks relating to the adequacy of our existing
infrastructure, systems, processes, policies, procedures, and personnel
and our ability to successfully implement and maintain enhancements to
the foregoing and adequate systems and internal controls for our current
and future operations and reporting needs, including related risks of
financial statement omissions, misstatements, restatements, or filing
delays; risks associated with changing accounting principles or
standards, tax laws and regulations, tax rates, and the continuing
availability of expected tax benefits; and risks associated with market
volatility in the prices of our common stock and convertible notes based
on our performance, third-party publications or speculation, or other
factors and risks associated with actions of activist stockholders. We
assume no obligation to revise or update any forward-looking statement,
except as otherwise required by law. For a detailed discussion of these
risk factors, see our Annual Report on Form 10-K for the fiscal year
ended January 31, 2019, our Quarterly Report on Form 10-Q for the
quarter ended April 30, 2019, when filed, and other filings we make with
the SEC.
VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, NEXT
IT, FORESEE, OPINIONLAB, KIRAN ANALYTICS, TERROGENCE, SENSECY, CUSTOMER
ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, EDGEVR, RELIANT,
VANTAGE, STAR-GATE, SUNTECH, and VIGIA are trademarks or registered
trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks
mentioned are the property of their respective owners.
| Table 1 | ||||||||||
| VERINT SYSTEMS INC. AND SUBSIDIARIES | ||||||||||
| Consolidated Statements of Operations | ||||||||||
| (Unaudited) | ||||||||||
|
Three Months Ended April 30, |
||||||||||
| (in thousands, except per share data) | 2019 | 2018 | ||||||||
| Revenue: | ||||||||||
| Product | $ | 104,224 | $ | 105,864 | ||||||
| Service and support | 211,035 | 183,343 | ||||||||
| Total revenue | 315,259 | 289,207 | ||||||||
| Cost of revenue: | ||||||||||
| Product | 28,120 | 34,809 | ||||||||
| Service and support | 79,361 | 71,857 | ||||||||
| Amortization of acquired technology | 6,707 | 7,426 | ||||||||
| Total cost of revenue | 114,188 | 114,092 | ||||||||
| Gross profit | 201,071 | 175,115 | ||||||||
| Operating expenses: | ||||||||||
| Research and development, net | 57,169 | 52,152 | ||||||||
| Selling, general and administrative | 121,721 | 107,497 | ||||||||
| Amortization of other acquired intangible assets | 7,713 | 7,684 | ||||||||
| Total operating expenses | 186,603 | 167,333 | ||||||||
| Operating income | 14,468 | 7,782 | ||||||||
| Other income (expense), net: | ||||||||||
| Interest income | 1,426 | 793 | ||||||||
| Interest expense | (9,934 | ) | (9,062 | ) | ||||||
| Other expense, net | (790 | ) | (464 | ) | ||||||
| Total other expense, net | (9,298 | ) | (8,733 | ) | ||||||
| Income (loss) before provision for income taxes | 5,170 | (951 | ) | |||||||
| Provision for income taxes | 1,409 | 274 | ||||||||
| Net income (loss) | 3,761 | (1,225 | ) | |||||||
| Net income attributable to noncontrolling interests | 2,185 | 990 | ||||||||
| Net income (loss) attributable to Verint Systems Inc. | $ | 1,576 | $ | (2,215 | ) | |||||
|
Net income (loss) per common share attributable to Verint Systems Inc.: |
||||||||||
| Basic | $ | 0.02 | $ | (0.03 | ) | |||||
| Diluted | $ | 0.02 | $ | (0.03 | ) | |||||
| Weighted-average common shares outstanding: | ||||||||||
| Basic | 65,438 | 63,298 | ||||||||
| Diluted | 67,088 | 63,298 | ||||||||
| Table 2 | |||||||||
| VERINT SYSTEMS INC. AND SUBSIDIARIES | |||||||||
| Segment Revenue | |||||||||
| (Unaudited) | |||||||||
|
Three Months Ended |
|||||||||
| (in thousands) | 2019 | 2018 | |||||||
| GAAP Revenue By Segment: | |||||||||
| Customer Engagement | $ | 207,095 | $ | 186,456 | |||||
| Cyber Intelligence | 108,164 | 102,751 | |||||||
| GAAP Total Revenue | $ | 315,259 | $ | 289,207 | |||||
| Revenue Adjustments: | |||||||||
| Customer Engagement | $ | 8,772 | $ | 2,719 | |||||
| Cyber Intelligence | 127 | 44 | |||||||
| Total Revenue Adjustments | $ | 8,899 | $ | 2,763 | |||||
| Non-GAAP Revenue By Segment: | |||||||||
| Customer Engagement | $ | 215,867 | $ | 189,175 | |||||
| Cyber Intelligence | 108,291 | 102,795 | |||||||
| Non-GAAP Total Revenue | $ | 324,158 | $ | 291,970 | |||||
| Table 3 | ||||||||||
| VERINT SYSTEMS INC. AND SUBSIDIARIES | ||||||||||
| Reconciliation of GAAP to Non-GAAP Results | ||||||||||
| (Unaudited) | ||||||||||
|
Three Months Ended |
||||||||||
| (in thousands, except per share data) | 2019 | 2018 | ||||||||
|
Table of Reconciliation from GAAP Gross |
||||||||||
| GAAP gross profit | $ | 201,071 | $ | 175,115 | ||||||
| GAAP gross margin | 63.8 | % | 60.6 | % | ||||||
| Revenue adjustments | 8,899 | 2,763 | ||||||||
| Amortization of acquired technology | 6,707 | 7,426 | ||||||||
| Stock-based compensation expenses | 1,404 | 846 | ||||||||
| Acquisition expenses, net | 15 | 17 | ||||||||
| Restructuring expenses | 449 | 363 | ||||||||
| Non-GAAP gross profit | $ | 218,545 | $ | 186,530 | ||||||
| Non-GAAP gross margin | 67.4 | % | 63.9 | % | ||||||
|
Table of Reconciliation from GAAP |
||||||||||
| GAAP operating income | $ | 14,468 | $ | 7,782 | ||||||
| As a percentage of GAAP revenue | 4.6 | % | 2.7 | % | ||||||
| Revenue adjustments | 8,899 | 2,763 | ||||||||
| Amortization of acquired technology | 6,707 | 7,426 | ||||||||
| Amortization of other acquired intangible assets | 7,713 | 7,684 | ||||||||
| Stock-based compensation expenses | 17,103 | 16,459 | ||||||||
| Acquisition expenses, net | 3,868 | 2,315 | ||||||||
| Restructuring expenses | 1,437 | 1,091 | ||||||||
| Other adjustments | 2,059 | 595 | ||||||||
| Non-GAAP operating income | $ | 62,254 | $ | 46,115 | ||||||
| As a percentage of non-GAAP revenue | 19.2 | % | 15.8 | % | ||||||
|
Table of Reconciliation from GAAP Other |
||||||||||
| GAAP other expense, net | $ | (9,298 | ) | $ | (8,733 | ) | ||||
| Unrealized losses (gains) on derivatives, net | 679 | (543 | ) | |||||||
| Amortization of convertible note discount | 3,061 | 2,905 | ||||||||
| Acquisition expenses, net | (34 | ) | 28 | |||||||
| Non-GAAP other expense, net(1) | $ | (5,592 | ) | $ | (6,343 | ) | ||||
|
Table of Reconciliation from GAAP |
||||||||||
| GAAP provision for income taxes | $ | 1,409 | $ | 274 | ||||||
| GAAP effective income tax rate | 27.3 | % | (28.8 | )% | ||||||
| Non-GAAP tax adjustments | 4,001 | 3,982 | ||||||||
| Non-GAAP provision for income taxes | $ | 5,410 | $ | 4,256 | ||||||
| Non-GAAP effective income tax rate | 9.5 | % | 10.7 | % | ||||||
|
Table of Reconciliation from GAAP Net |
||||||||||
| GAAP net income (loss) attributable to Verint Systems Inc. | $ | 1,576 | $ | (2,215 | ) | |||||
| Revenue adjustments | 8,899 | 2,763 | ||||||||
| Amortization of acquired technology | 6,707 | 7,426 | ||||||||
| Amortization of other acquired intangible assets | 7,713 | 7,684 | ||||||||
| Stock-based compensation expenses | 17,103 | 16,459 | ||||||||
| Unrealized losses (gains) on derivatives, net | 679 | (543 | ) | |||||||
| Amortization of convertible note discount | 3,061 | 2,905 | ||||||||
| Acquisition expenses, net | 3,834 | 2,343 | ||||||||
| Restructuring expenses | 1,437 | 1,091 | ||||||||
| Other adjustments | 2,059 | 595 | ||||||||
| Non-GAAP tax adjustments | (4,001 | ) | (3,982 | ) | ||||||
| Total GAAP net income (loss) adjustments | 47,491 | 36,741 | ||||||||
| Non-GAAP net income attributable to Verint Systems Inc. | $ | 49,067 | $ | 34,526 | ||||||
|
Table Comparing GAAP Diluted Net Income |
||||||||||
|
GAAP diluted net income (loss) per common share attributable to Verint Systems Inc. |
$ | 0.02 | $ | (0.03 | ) | |||||
|
Non-GAAP diluted net income per common share attributable to Verint Systems Inc. |
$ | 0.73 | $ | 0.53 | ||||||
|
GAAP weighted-average shares used in computing diluted net income (loss) per common share attributable to Verint Systems Inc. |
67,088 | 63,928 | ||||||||
|
Additional weighted-average shares applicable to non-GAAP diluted net income per common share attributable to Verint Systems Inc. |
— | 1,203 | ||||||||
|
Non-GAAP diluted weighted-average shares used in computing net income per common share attributable to Verint Systems Inc. |
67,088 | 65,131 | ||||||||
|
Table of Reconciliation from GAAP Net |
||||||||||
| GAAP net income (loss) attributable to Verint Systems Inc. | $ | 1,576 | $ | (2,215 | ) | |||||
| As a percentage of GAAP revenue | 0.5 | % | (0.8 | )% | ||||||
| Net income attributable to noncontrolling interest | 2,185 | 990 | ||||||||
| Provision for income taxes | 1,409 | 274 | ||||||||
| Other expense, net | 9,298 | 8,733 | ||||||||
| Depreciation and amortization(2) | 22,293 | 23,310 | ||||||||
| Revenue adjustments | 8,899 | 2,763 | ||||||||
| Stock-based compensation expenses | 17,103 | 16,459 | ||||||||
| Acquisition expenses, net | 3,868 | 2,315 | ||||||||
| Restructuring expenses | 1,437 | 1,090 | ||||||||
| Other adjustments | 2,059 | 595 | ||||||||
| Adjusted EBITDA | $ | 70,127 | $ | 54,314 | ||||||
| As a percentage of non-GAAP revenue | 21.6 | % | 18.6 | % | ||||||
|
Table of Reconciliation from Gross Debt |
April 30,
2019 |
January 31,
2019 |
||||||||
| Current maturities of long-term debt | $ | 4,303 | $ | 4,343 | ||||||
| Long-term debt | 780,260 | 777,785 | ||||||||
| Unamortized debt discounts and issuance costs | 33,052 | 36,589 | ||||||||
| Gross debt | 817,615 | 818,717 | ||||||||
| Less: | ||||||||||
| Cash and cash equivalents | 412,024 | 369,975 | ||||||||
| Restricted cash and cash equivalents, and restricted time deposits | 39,749 | 42,262 | ||||||||
| Short-term investments | 39,334 | 32,329 | ||||||||
|
Net debt, excluding long-term restricted cash, cash equivalents, time deposits, and investments |
326,508 | 374,151 | ||||||||
|
Long-term restricted cash, cash equivalents, time deposits and investments |
25,082 | 23,193 | ||||||||
|
Net debt, including long-term restricted cash, cash equivalents, time deposits, and investments |
$ | 301,426 | $ | 350,958 | ||||||
|
(1) For the three months ended April 30, 2019, non-GAAP other expense, net of $5.6 million was comprised of $5.6 million of interest and other expense. |
| (2) Adjusted for financing fee amortization. |
| Table 4 | ||||||||||
| VERINT SYSTEMS INC. AND SUBSIDIARIES | ||||||||||
| Consolidated Balance Sheets | ||||||||||
| (Unaudited) | ||||||||||
| April 30, | January 31, | |||||||||
| (in thousands, except share and per share data) | 2019 | 2019 | ||||||||
| Assets | ||||||||||
| Current Assets: | ||||||||||
| Cash and cash equivalents | $ | 412,024 | $ | 369,975 | ||||||
|
Restricted cash and cash equivalents, and restricted bank time deposits |
39,749 | 42,262 | ||||||||
| Short-term investments | 39,334 | 32,329 | ||||||||
|
Accounts receivable, net of allowance for doubtful accounts of $4.5 million and $3.8 million, respectively |
316,101 | 375,663 | ||||||||
| Contract assets | 63,228 | 63,389 | ||||||||
| Inventories | 27,845 | 24,952 | ||||||||
| Prepaid expenses and other current assets | 90,016 | 97,776 | ||||||||
| Total current assets | 988,297 | 1,006,346 | ||||||||
| Property and equipment, net | 102,340 | 100,134 | ||||||||
| Operating lease right-of-use assets | 96,811 | — | ||||||||
| Goodwill | 1,431,517 | 1,417,481 | ||||||||
| Intangible assets, net | 219,552 | 225,183 | ||||||||
| Other assets | 119,024 | 117,883 | ||||||||
| Total assets | $ | 2,957,541 | $ | 2,867,027 | ||||||
| Liabilities and Stockholders’ Equity | ||||||||||
| Current Liabilities: | ||||||||||
| Accounts payable | $ | 65,275 | $ | 71,621 | ||||||
| Accrued expenses and other current liabilities | 244,983 | 212,824 | ||||||||
| Contract liabilities | 350,488 | 377,376 | ||||||||
| Total current liabilities | 660,746 | 661,821 | ||||||||
| Long-term debt | 780,260 | 777,785 | ||||||||
| Long-term contract liabilities | 32,726 | 30,094 | ||||||||
| Operating lease liabilities | 85,649 | — | ||||||||
| Other liabilities | 123,583 | 136,523 | ||||||||
| Total liabilities | 1,682,964 | 1,606,223 | ||||||||
| Commitments and Contingencies | ||||||||||
| Stockholders’ Equity: | ||||||||||
|
Preferred stock – $0.001 par value; authorized 2,207,000 shares at April 30, 2019 and January 31, 2019, respectively; none issued. |
— | — | ||||||||
|
Common stock – $0.001 par value; authorized 120,000,000 shares. Issued 67,446,000 and 66,998,000 shares; outstanding 65,773,000 and 65,333,000 shares at April 30, 2019 and January 31, 2019, respectively. |
67 | 67 | ||||||||
| Additional paid-in capital | 1,601,156 | 1,586,266 | ||||||||
|
Treasury stock, at cost – 1,673,000 and 1,665,000 shares at April 30, 2019 and January 31, 2019, respectively. |
(58,072 | ) | (57,598 | ) | ||||||
| Accumulated deficit | (132,698 | ) | (134,274 | ) | ||||||
| Accumulated other comprehensive loss | (149,523 | ) | (145,225 | ) | ||||||
| Total Verint Systems Inc. stockholders’ equity | 1,260,930 | 1,249,236 | ||||||||
| Noncontrolling interests | 13,647 | 11,568 | ||||||||
| Total stockholders’ equity | 1,274,577 | 1,260,804 | ||||||||
| Total liabilities and stockholders’ equity | $ | 2,957,541 | $ | 2,867,027 | ||||||
Contacts
Investor Relations
Alan Roden
Verint
Systems Inc.
(631) 962-9304
[email protected]
