Cognyte Software, a global leader in investigative analytics software, reported strong fiscal fourth-quarter results, with revenue and adjusted earnings coming in ahead of expectations.
Earnings per share of $0.34 exceeded analyst estimates of $0.33.
The quarter's revenue also outperformed expectations, reaching $79.4 million compared to the consensus estimate of $77.63 million.
As a result, Cognyte raised its full-year guidance, expecting revenue to grow by approximately 10%, with gross profit growing over 20% year over year.
Adjusted EBITDA for the year is projected to be around $8 million.
For the fiscal year 2023, Cognyte expects revenue to be $311 million, beating the analyst consensus of $307 million.
Cognyte's CEO, Elad Sharon, expressed satisfaction with the solid quarter, emphasizing the company's technological strength and its ability to secure significant deals.
“Looking ahead, we believe our ability to leverage the latest AI innovations, together with our domain expertise in investigative analytics, will further enhance our differentiation and the value we provide to our customers, and position us well for future growth and improving profitability,” Sharon said in a statement.
Shares of Cognyte were down around 6.8% on Wednesday morning in New York.