Welcome to our dedicated page for Cognyte Software news (Ticker: CGNT), a resource for investors and traders seeking the latest updates and insights on Cognyte Software stock.
Cognyte Software Ltd (CGNT) delivers security analytics solutions that transform complex data into actionable intelligence for government and enterprise clients. This dedicated news hub provides investors and professionals with centralized access to official announcements and strategic developments.
Track critical updates including earnings disclosures, product enhancements, and partnership agreements. Our curated feed ensures timely access to information impacting security analytics markets and investigative technology trends. Key focus areas include threat detection innovations, software platform expansions, and regulatory compliance developments.
Regularly updated with press releases and verified news, this resource enables stakeholders to monitor Cognyte's progress in advancing security intelligence capabilities. Bookmark this page for efficient tracking of operational milestones and technology deployments in the cybersecurity analytics sector.
Cognyte Software (NASDAQ: CGNT) announced that a long-standing national security agency customer in the Asia-Pacific (APAC) region has exercised a $4 million option to expand its solution capacity. This follows a recent $5 million contract signed earlier this year to scale up the existing solution. The customer, focused on combating terror and enhancing public safety, recognized the need to handle growing data volumes effectively.
Efi Nuri, Cognyte's Chief Revenue Officer, highlighted the strong relationship with the customer and the high value generated by their investigative analytics solutions. The quick exercise of the expansion option demonstrates the customer's trust in Cognyte as a domain expert and the effectiveness of their solutions in managing increasing data challenges.
Cognyte Software (NASDAQ: CGNT) has issued a letter to shareholders ahead of its 2024 Annual Meeting, urging them to vote for the re-election of Chairman Earl Shanks and CEO Elad Sharon, while rejecting Value Base Fund's nominee. The letter highlights:
1. Improved financial performance: Three consecutive quarters of year-over-year Revenue and Adjusted EBITDA growth, expanding Gross Margins, and strong RPOs.
2. Stock appreciation: Over 50% since Shanks' appointment as Chairman, outperforming market benchmarks.
3. Enhanced governance: Establishment of a Strategy Committee, appointment of new independent directors, and improved disclosures.
4. Shareholder engagement: Proactive outreach to top institutional shareholders, representing about 60% of outstanding shares.
The Board emphasizes the importance of retaining leadership with global market understanding and software industry expertise to drive Cognyte's continued growth and expansion.
Cognyte Software (NASDAQ: CGNT) has confirmed receipt of a director nomination from Value Base for the 2024 Annual Meeting of Shareholders. The company's Board of Directors is focused on maximizing shareholder value through initiatives like expanding in North America and investing in AI research. Cognyte's Board has undergone significant changes in the past 15 months, including the addition of three new members and the establishment of a strategy committee. The company believes it is well-positioned for sustainable and profitable growth. The Board will evaluate Value Base's nominee, and recommendations will be included in a supplement to the proxy statement. No shareholder action is required at this time.
Cognyte Software (NASDAQ: CGNT) announced a $10 million follow-on order from a national security agency in the EMEA region. This long-term client will utilize Cognyte's advanced investigative analytics to derive more insights from increasing data volumes, combatting threats like terrorism, drug trafficking, and weapons smuggling. The order highlights the customer's satisfaction with Cognyte's technology and solutions.
Cognyte reported its Q1 fiscal 2025 results, showing substantial revenue growth and margin expansion. Revenue for Q1 2025 reached $82,714,000, compared to $73,266,000 in Q1 2024, representing significant growth.
Gross margin improved to 70.6% from 67.9% year-over-year. The company reported a non-GAAP EPS of $(0.04), a considerable improvement from $(0.11) in the previous year. Cognyte ended the quarter with $107 million in cash and no debt.
The company raised its fiscal 2025 guidance, now expecting full-year revenue of $344 million, representing around 10% growth. Adjusted EBITDA is projected at $22 million, with cash from operations anticipated to be $37 million.
CEO Elad Sharon emphasized the company's strong business model and its strategic position for sustainable growth and improved profitability.
Cognyte Software has released a survey highlighting the growing importance of AI and data analytics in law enforcement. The 2024 Data Analytics for Law Enforcement Survey reveals that 99% of respondents see AI as beneficial for data analysis and 85% consider it critical or very important for future investigations. The survey, which included 200 senior law enforcement stakeholders, identifies unstructured data as a key challenge and notes that many agencies are still using disconnected solutions. Most agencies plan to modernize their data analytics systems, with substantial investment growth expected. Key AI capabilities for 2024 include pattern recognition (54%), image analysis (53%), and risk assessment (49%).
Cognyte Software (NASDAQ: CGNT), known for its expertise in investigative analytics software, will announce its first quarter FYE25 financial results on June 18, 2024. The results will cover the quarter ending April 30, 2024. A conference call will be held at 8:30am ET to discuss these results. Participants can join a real-time webcast available on the company's Investor Relations webpage, and those wishing to ask questions must register for access details. The company emphasizes punctuality by recommending participants join 10 minutes before the event starts.
Cognyte Software (NASDAQ: CGNT) announced that its CEO, Elad Sharon, and CFO, David Abadi, will participate in an in-person fireside chat at the TD Cowen 52nd Annual Technology, Media & Telecom Conference.
The event will occur on Wednesday, May 29, 2024, at 10:15am ET. An online, real-time webcast and replay of the discussion will be available on Cognyte's investor relations website.
Cognyte is a global leader in investigative analytics software.
Cognyte Software (NASDAQ: CGNT) received a $5 million order from a national intelligence organization in the EMEA region, marking the third order in a year. The ongoing partnership showcases confidence in Cognyte's solutions, highlighting the company's technological superiority and ability to enhance operational efficiency. The company's commitment to meeting customer needs and addressing evolving challenges drives growth opportunities.
Cognyte Software (NASDAQ: CGNT) will participate in the 19th Annual Needham Technology, Media, & Consumer Conference with a virtual fireside chat by Elad Sharon, CEO, and David Abadi, CFO, on May 16, 2024. The event will be webcasted live and available for replay on the company's website.
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