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- **Revenue Growth**: Q4 $106.2M (+12.4% YoY), FY2026 $400M (+14.1% YoY). Software services up 22.6% YoY.
- **AI and Subscription Expansion**: 74.7% Q4 gross margin, $6M subscription deal, 5% deals now subscription vs. perpetual.
- **North America Play**: $5M state law enforcement win, Carahsoft federal channel partnership.
- **Customer Loyalty**: 61 new logos, repeat business dominant. $10M+ EMEA expansion with 10+ year customer.
- **FY2028 Targets**: On track for $500M revenue and >20% EBITDA margin, two years early.
- **Cash Strength**: $116.9M ending cash, $45M FY2027 cash flow guidance. $40M buyback program.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 FY2026 revenue of $106.2 million (+12.4% YoY), FY2026 total revenue $400 million (+14.1% YoY). Software services revenue grew 22.6% YoY. 
- **AI and Subscription Momentum**: Transition to subscription models (e.g., $6M 5-year deal), AI-driven functionality adoption. Gross margin reached 74.7% in Q4, up 320bps YoY.
- **North America Expansion**: New GM with federal experience, Carahsoft partnership for federal channels. Secured $5M state law enforcement deal, replacing incumbent.
- **Customer Retention**: 61 new logos in FY2026, repeat business significant. Example: $10M+ EMEA expansion with 10+ year customer.
- **FY2028 Targets**: On track for $500M revenue and >20% adjusted EBITDA margin, two years ahead of plan.

**【CFO Financial Commentary】**
- **Profitability**: Q4 non-GAAP operating income $12.1M (+100% YoY), adjusted EBITDA $15M (+62.5% YoY). FY2026 non-GAAP operating income $36.7M (+118% YoY).
- **Cash Flow**: FY2026 cash from ops $40.3M, ended with $116.9M cash. FY2027 guidance: $45M cash flow, $448M revenue (+12% YoY midpoint).
- **Gross Margin**: Target 73.5% for FY2027, up 50bps YoY. Offset 3% FX headwinds via margin expansion.
- **Share Buybacks**: $40M authorized program, $21.4M executed in FY2026. 

**【Q&A Key Highlights】**
- **RPO Visibility**: Q4 RPO $557M (cRPO $369.5M). FY2027 guidance assumes 50% growth from existing customers, 25% new logos, 25% U.S. expansion.
- **U.S. Growth**: 25% of FY2028 $100M incremental revenue target to come from U.S. via federal modernization programs.
- **Cash Conversion**: FY2026 free cash flow $30M vs. $45M target due to delayed collections, but Q1 collections resolved.
- **Macro Impact**: Geopolitical tensions (e.g., Middle East) driving demand in military intelligence and border security use cases.
- **Subscription Mix**: 5% of deals now subscription, transitioning from perpetual. Subscription adds 1-2% annual visibility.

Cognyte Software Ltd (CGNT) Q4 2026 Earnings Call Transcript

- **Revenue Growth Accelerates**: 13.2% YoY growth to $100.7 million, driven by 39.6% YoY software revenue surge.
- **AI Platform Wins**: $5M military deal and renewals highlight AI's ability to unify cross-border threat data.
- **Margin Expansion**: Gross margin hits 73% (vs. FY28 target), operating income triples YoY.
- **U.S. Expansion**: LexisNexis partnership trains 100+ federal agents, with Q3 joint events.
- **Guidance Update**: $400M FY26 revenue (14% growth), $47M EBITDA (60% growth).

**【CEO Summary Section】**
- Cognyte delivered Q3 revenue growth of 13.2% YoY, driven by software solutions and strong demand across law enforcement and national security sectors.
- Secured a $5 million follow-on subscription agreement with a Tier 1 military intelligence organization and renewed multimillion-dollar contracts with existing customers.
- Expanded U.S. market presence through a partnership with LexisNexis Risk Solutions, including structured training for their sales force to enhance federal and state engagement.
- Highlighted AI-driven platform capabilities to unify disjointed data silos, enabling agencies to detect cross-border criminal networks and hybrid threats.
- Raised full-year revenue guidance to $400 million (14% YoY growth) and adjusted EBITDA to $47 million (60% YoY growth).

**【CFO Financial Commentary】**
- Q3 non-GAAP gross margin expanded to 73.1%, up 297 basis points YoY, driven by premium pricing for differentiated AI solutions.
- Software revenue grew 39.6% YoY to $41.9 million, while software services revenue increased 1.6% YoY to $46.9 million.
- Operating income tripled YoY to $9 million, with adjusted EBITDA up 81.4% YoY to $11.9 million.
- Cash flow from operations was $25 million, supporting a strong balance sheet with $106.6 million in cash and no debt.
- Full-year guidance updated to $400 million revenue (14% YoY growth) and 72.3% non-GAAP gross margin.

**【Q&A Key Highlights】**
- **Deal Recognition Timing**: Large perpetual license deals typically take 2-5 quarters to convert from RPO to revenue, depending on customer integration needs.
- **U.S. Federal Market**: Government shutdowns delayed but did not derail discussions; LexisNexis partnership training resumed post-shutdown with federal agencies expressing interest.
- **Margin Trends**: Gross margin expanded to 73% Q3, exceeding FY28 target of 73%, driven by premium pricing and AI efficiency gains.
- **Contract Duration**: CRPO (short-term RPO) grew 10% YoY to $358.9 million, reflecting 12-month visibility for 88% of total RPO.
- **Professional Services**: 13% of revenue mix, fluctuating quarterly based on deployment timing but stable at 13% annual target.

Cognyte Software Ltd.(CGNT)-20251209-2026 Q3 Earnings call transcript

- **Revenue Growth**: Q2 up 16% YoY to $98M, beating FY26 guidance of $397M (+13% YoY). 
- **Strategic Wins**: $10M deals in APAC/EMEA, U.S. expansion via LexisNexis partnership. 
- **Financial Health**: 72.1% gross margin, $11M EBITDA (+33% YoY), $45M cash flow guidance. 
- **Growth Drivers**: 80% from existing customers, 20% new logos, 48% recurring revenue. 
- **Risks**: U.S. federal budget delays, but state/local momentum strong. 
- **Long-Term Vision**: $500M by FY28, 73% gross margin, 20%+ EBITDA margin. 


**【CEO Summary Section】**
- Q2 revenue grew 16% YoY to $98 million, driven by new deals in APAC and EMEA (e.g., $10M follow-on with Asian military intelligence and $10M competitive win in EMEA). 
- Highlighted strategic U.S. expansion via LexisNexis partnership, targeting federal agencies despite budget delays. 
- Long-term targets: $500M revenue by FY28, 73% gross margin, and 20%+ EBITDA margin. 
- Q2 guidance update: FY26 revenue $397M (+13% YoY), adjusted EBITDA $45M (+55% YoY). 
- Emphasized technology differentiation (AI/CTI) and customer retention (85%+ software revenue mix). 

**【CFO Financial Commentary】**
- Q2 financials: 
  - Total revenue $97.5M (+15.5% YoY), software revenue $83.3M (85.5% of total). 
  - Non-GAAP gross margin 72.1% (+80bps YoY), operating income $8M (+100% YoY). 
  - Adjusted EBITDA $11M (+33% YoY), non-GAAP EPS $0.08. 
- Cash flow: Q2 negative $6.3M, FY26 guidance $45M operating cash flow. 
- Share buyback: $20M program approved, $20M repurchased in Q2. 
- Updated FY26 guidance: 72% non-GAAP gross margin, $0.23 EPS. 
- RPO $574.5M (vs $567.7M prior), short-term RPO $355M for next 12 months. 

**【Q&A Highlights】**
- **U.S. Federal Strategy**: CEO notes slow federal sales due to budget delays, but state/local wins (e.g., POC leading to arrests) and LexisNexis partnership driving momentum. 
- **Growth Drivers**: 80%+ from existing customers expanding data/analytics, 20% new logos. 
- **Recurring Revenue**: 48.7% of Q2 revenue, expects gradual increase with SaaS adoption. 
- **Competitive Edge**: Displacing incumbents via POCs demonstrating AI/CTI superiority in threat detection. 
- **Long-Term Outlook**: U.S. to become material revenue contributor by FY28, supported by $114M deferred revenue backlog. 


Cognyte Software Ltd. (CGNT) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 16% YoY to $95.5M, driven by $30M+ in new contracts.
- **Margin Expansion**: Gross margin up 80bps to 71.9%, EBITDA doubles to $10.3M.
- **Acquisition Payoff**: GroupSense adds $3M ARR with U.S. customers, positioning for cross-sell opportunities.
- **FY26 Outlook**: $395M revenue (+13%), $44M EBITDA (+50%), with strong RPO visibility.


**【CEO Opening Remarks】**
- Q1 FY26 revenue reached $95.5M, up 16% YoY, driven by strong demand and customer wins.
- Signed two major contracts: a $20M/year 3-year support agreement with a National Security customer and a $10M/year subscription deal with another agency.
- Acquired GroupSense for $4M in cash, adding 50 U.S. customers and enhancing cyber threat intelligence capabilities.
- Updated FY26 guidance: $395M revenue (+13% YoY) and $44M adjusted EBITDA (+50% YoY).

**【CFO Financial Details】**
- Non-GAAP gross margin expanded to 71.9% (up 80bps YoY), with gross profit growing 17% YoY to $68.7M.
- Adjusted EBITDA of $10.3M (+106% YoY), non-GAAP EPS of $0.07.
- Cash flow from operations: $1.7M in Q1, with full-year target of $45M.
- RPO increased to $597.8M, up $52M YoY, with $346.9M in short-term visibility.

**【Q&A Key Points】**
- **Contract Timing**: $10M/year subscription deal will begin in Q1 FY27, only first year included in RPO.
- **GroupSense Impact**: Adds $3M annual recurring revenue and $2M in OpEx, breakeven in first year with potential synergies.
- **Demand Trends**: Healthy momentum driven by data volume growth, sophisticated adversaries, and technology evolution.
- **U.S. Expansion**: GroupSense customers are all U.S.-based, with potential to cross-sell Cognyte solutions.


Cognyte Software Ltd. (CGNT) Q1 2026 Earnings Call Transcript

- **Strong Q4 and FY25 Performance**: Revenue up 13% YoY to $94.5M, with adjusted EBITDA surging 114% to $9.3M. FY25 cash flow from operations reached $47M.
- **Customer Expansion**: Added 60+ new customers in FY25, securing $10M+ deals and multi-year support agreements. U.S. federal law enforcement engagement is accelerating.
- **FY26 Growth Outlook**: $392M revenue target (+12% YoY), with adjusted EBITDA expected to grow 45% to $43M. Strong RPO visibility supports this outlook.
- **Financial Strength**: Cash position of $113.3M and $45M projected FY26 cash flow highlight financial flexibility. Non-GAAP gross margin to expand 50bps to 71.5%.
- **U.S. Market Focus**: CEO emphasizes federal agency opportunities despite longer sales cycles, with positive POC results and strategic investments in go-to-market.


**【CEO Summary Section】**
- **Q4 and FY25 Financial Highlights**: Q4 revenue grew 13% YoY to $94.5M, with FY25 revenue up 12% to $351M. Non-GAAP gross profit increased 15% YoY, and adjusted EBITDA rose 114% to $9.3M. Cash flow from operations was $19M for Q4 and $47M for the year.
- **Customer Growth and Deal Momentum**: Added over 60 new customers in FY25, doubling the previous year. Secured a $10M+ technology upgrade deal and five $5M+ deals, including multi-year support agreements. U.S. federal law enforcement engagement is growing, with positive POC results.
- **FY26 Outlook**: Revenue expected to reach $392M (+12% YoY), with gross profit growth outpacing revenue. Adjusted EBITDA projected at $43M (+45% YoY). Virtual Analyst Day on April 8 will provide long-term financial targets.
- **Leadership Updates**: Welcome new Board members Matthew O'Neill (U.S. federal expertise) and Nurit Benjamini (software sector experience) to strengthen strategic execution.

**【CFO Financial Commentary】**
- **Q4 Financials**: Non-GAAP gross margin 71.5%, up 150bps YoY. Recurring revenue ($47.3M) represented 50% of Q4 total. Operating expenses were $61.6M, in line with expectations. Free cash flow was $14.4M.
- **FY25 Financials**: Non-GAAP operating income rose 5x to $15.7M, and adjusted EBITDA tripled to $29M. Cash position strengthened to $113.3M, with $5.3M spent on share buybacks.
- **Guidance for FY26**: Revenue $392M (+12% YoY), non-GAAP gross margin 71.5%, and operating expenses up 7%. Non-GAAP EPS expected at $0.16. Cash flow from operations projected at $45M, supported by strong collections and working capital management.
- **RPO and Visibility**: Total RPO $545.8M, with short-term RPO ($335.3M) providing 12-month visibility. A $20M+ multi-year support renewal highlights customer retention strength.

**【Q&A Key Takeaways】**
- **U.S. Market Dynamics**: Elad Sharon emphasized U.S. as a growth engine, with federal agency engagement despite longer sales cycles. Positive POC results and brand awareness are driving momentum.
- **Cash Flow and Growth**: David Abadi noted FY25 cash flow efficiency but expects more normalized levels in FY26. Gross margin expansion and operating leverage will drive profitability.
- **Global Demand**: Shaw Yale asked about non-U.S. markets; Elad highlighted sustained global demand for advanced analytics, driven by evolving criminal threats and AI adoption.


Actual	0.36	0.2	0.17	0.21	0.16	-0.79	-0.04	-0.25	-0.16					-0.0331	0.05	0.02	0.03	0.07	0.08	0.03	0.1
Forecast	0.2275	0.154	0.16	0.098	0.2167	0.0933	-0.1167	-0.204	-0.1307					-0.065	-0.0226	0.105	0.01	0.005	0.03	0.0054	0.035
Surprise	+58.24%	+29.87%	+6.25%	+114.29%	-26.17%	-946.73%	+65.72%	-22.55%	-22.42%	0.00%	0.00%	0.00%	0.00%	+49.08%	+321.24%	-80.95%	+200.00%	+1300.00%	+166.67%	+455.56%	+185.71%

CGNT

CGNT fundamentals

CGNT Q4 2026 Earnings

Earnings Call

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CGNT

CGNT fundamentals

CGNT Q4 2026 Earnings

Earnings Call

CGNT Earnings Call Summary for Q4/2026Today8:30 AM on Mar 25, 2026

CGNT Earnings Call Summary for Q3/20268:30 AM on Dec 9, 2025

CGNT Earnings Call Summary for Q2/20268:30 AM on Sep 9, 2025

CGNT Earnings Call Summary for Q1/20268:30 AM on Jun 11, 2025

CGNT Earnings Call Summary for Q4/20258:30 AM on Apr 2, 2025

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