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. (NASDAQ: CGNT) is a software-driven technology company focused on data processing and investigative analytics, and the CGNT news feed reflects that focus. Public announcements describe Cognyte as providing security analytics and investigative analytics software that helps customers generate Actionable Intelligence for a Safer World™, particularly in law enforcement, national security and military intelligence contexts.
On this page, readers can follow Cognyte’s company news, including earnings-related press releases, conference call announcements and participation in investor events. The company regularly furnishes press releases via Form 6-K that cover quarterly financial results, outlook commentary and information about share repurchase authorizations and annual general meetings.
News items also highlight Cognyte’s customer engagements and operational deployments. Recent releases describe new multi-unit wins with Tier-1 law enforcement agencies in the EMEA region, contracts with Tier-1 military intelligence organizations, and follow-on agreements with long-standing military intelligence customers in APAC. These updates provide insight into how Cognyte’s investigative analytics and tactical SIGINT solutions are being adopted across regions and mission types.
In addition, Cognyte uses news releases to showcase its presence at homeland security and law enforcement events, such as Milipol Paris and the IACP Conference, and to announce threat trend reports on topics like how Gen Z and Gen Alpha are reshaping crime. For investors, analysts and security professionals, the CGNT news stream offers a consolidated view of Cognyte’s operational developments, customer wins, research publications and financial communications over time.
EMDA Research, an Israeli proxy advisor, has recommended its institutional clients vote FOR Tal Yaacobi's election and AGAINST Chairman Earl Shanks' re-election to Cognyte Software's (NASDAQ: CGNT) board at the upcoming 2024 Annual Meeting on September 4, 2024. EMDA also advised voting AGAINST the CEO Compensation Plan.
Value Base, Cognyte's largest shareholder with a 9.33% stake, supports EMDA's recommendations. They emphasize the urgency of replacing Chairman Shanks, citing a 75% decline in share price during his tenure. Due to Cognyte's staggered board structure, shareholders won't have another opportunity to vote on Shanks' position until 2027 if he's re-elected.
Value Base urges shareholders to vote FOR Tal Yaacobi's election and related approvals, and AGAINST Earl Shanks' re-election and the CEO compensation plan.
Cognyte Software (NASDAQ: CGNT) has issued a letter to shareholders highlighting recent progress and reaffirming commitments. The Board urges shareholders to vote 'For' Chairman Earl Shanks and CEO Elad Sharon, as well as 'For' the proposal to approve amendments to the CEO's compensation plan at the upcoming Annual Meeting on September 4, 2024.
Key points include:
- 55% total shareholder return over the last 12 months
- Raised guidance for fiscal year 2025
- Commitment to add a U.S.-based director with relevant experience
- Plans to enhance disclosure of key performance indicators
- Support from Institutional Shareholder Services (ISS) for Board recommendations
- CEO compensation program is approximately 80% at-risk
The Board opposes Value Base Fund's attempt to replace Mr. Shanks with Tal Yaacobi, citing concerns about disrupting the company's momentum.
Value Base , Cognyte Software 's (Nasdaq: CGNT) largest shareholder with a 9.33% stake, urges shareholders to vote for director candidate Tal Yaacobi and against the reelection of Earl Shanks and the CEO compensation plan. The company criticizes Shanks' leadership, citing a 75% share price drop and underperformance compared to peers. Value Base argues that Cognyte's current market value (trading at 1.3x enterprise value/sales) significantly undervalues its potential, compared to peer multiples of 4x-25x. They propose Yaacobi as a candidate to bring shareholder insights and capital markets expertise to the board, aiming to enhance company value and improve financial performance.
Cognyte Software (NASDAQ: CGNT), a global leader in investigative analytics software, has released an investor presentation ahead of its Annual Meeting on September 4, 2024. The presentation highlights the company's business momentum, strategic initiatives, and improved financial performance. Cognyte urges shareholders to vote 'FOR' the re-election of Chairman Earl Shanks and CEO Elad Sharon to the Board of Directors, 'AGAINST' the election of Value Base Fund's nominee Tal Yaacobi, and 'FOR' the proposed amendments to the CEO's compensation plan.
The company argues that electing Yaacobi would weaken the Board and emphasizes that the compensation plan aligns with performance and industry standards. Cognyte has also highlighted its refreshed Board composition, performance-based compensation structure, and commitment to enhancing corporate governance and financial disclosure.
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%).
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