VERINT SYSTEMS Reports Earnings Results for FY2024 Q1, as of April 30 2023
June 15, 2023
🌥️Earnings Overview
Verint Systems ($NASDAQ:VRNT) announced their Q1 FY2024 financial results for the period ended April 30 2023, on June 7 2023. Total revenue for the quarter was USD 216.6 million, a slight dip of 0.6% compared to the same period last year. Net income for the period came in at USD 3.3 million, whereas in the corresponding quarter of the previous year, it was 0.3 million.
Market Price
On Wednesday, VERINT SYSTEMS reported its earnings results for the first quarter of fiscal year 2024. The stock opened at $37.7 and closed at $37.7, up by 0.5% from its previous closing price of $37.5. This marked the first earnings report since April 30th 2023. Overall, VERINT SYSTEMS’ performance was strong, with its revenue growing at a healthy rate and its operating and net income increasing significantly year-over-year.
The company’s stock price reflects this, as it stayed stable despite tough market conditions. Investors should remain cautiously optimistic about VERINT SYSTEMS’ prospects going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Verint Systems. More…
| Total Revenues | Net Income | Net Margin |
| 900.9 | -2.89 | 1.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Verint Systems. More…
| Operations | Investing | Financing |
| 145.9 | -60.13 | -111.36 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Verint Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.24k | 978.71 | 19.56 |
Key Ratios Snapshot
Some of the financial key ratios for Verint Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -10.9% | -6.2% | 7.9% |
| FCF Margin | ROE | ROA |
| 12.3% | 3.5% | 2.0% |
Analysis
At GoodWhale, we have conducted an analysis of VERINT SYSTEMS‘s wellbeing. According to our Star Chart, the company is strong in profitability, but weak in asset, dividend, and growth. Based on this data, we have classified VERINT SYSTEMS as a ‘sloth’. This type of company has achieved revenue or earnings growth slower than the overall economy. Therefore, investors who are looking for slow and steady growth may be interested in investing in this company. Furthermore, VERINT SYSTEMS has a high health score of 8/10 considering its cashflows and debt. This indicates that the company is capable to safely ride out any crisis without the risk of bankruptcy. Thus, it could be considered as a safe and reliable investment for investors who are looking for steady returns with minimal risk. More…
Peers
Headquartered in Melville, New York, the company employs more than 10,000 people worldwide. Its competitors include SysGroup PLC, Coveo Solutions Inc, ECSC Group PLC.
– SysGroup PLC ($LSE:SYS)
PLC is a global provider of integrated communications and collaboration solutions, with a market cap of 10.13M as of 2022. PLC’s Return on Equity (ROE) is 2.07%. PLC’s products and services enable businesses and organizations to communicate and collaborate more effectively.
– Coveo Solutions Inc ($TSX:CVO)
Coveo is a company that provides search and analytics tools that help organizations make better decisions and drive better results. The company has a market cap of 549.37M as of 2022 and a ROE of 59.41%. Coveo’s products and services enable organizations to connect with their customers and employees in a more meaningful way, and to make better decisions that drive better results. The company’s mission is to help organizations reach their full potential by harnessing the power of information.
– ECSC Group PLC ($LSE:ECSC)
ESSC Group PLC is a leading provider of energy services and solutions. The company has a market cap of 2.4M and a ROE of 452.76%. ESSC Group PLC provides a full range of energy services and solutions to businesses and households across the UK. The company offers a wide range of services including energy procurement, energy management, renewable energy solutions, and carbon management.
Summary
Verint Systems reported their first quarter earnings for FY2024 on June 7, 2023, with a total revenue of USD 216.6 million, which is a 0.6% decrease compared to the same period last year. Net income for the quarter was USD 3.3 million, compared to USD 0.3 million from the previous year. Investors should take into consideration the company’s lower year-over-year revenue growth rate, as well as its mixed performance in terms of net income. With that in mind, investors should analyze the company’s long-term prospects and decide whether or not they should invest in Verint Systems.
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