Verint Systems Inc. (NASDAQ:VRNT) Q2 2019 Earnings Conference Call Transcript

Sep 04, 2019 • 04:30 pm ET

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Verint Systems Inc. (NASDAQ:VRNT) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to Verint Systems Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference may be recorded. I would now like to introduce your host for today's conference, Mr. Alan Roden, Senior Vice President of Corporate Development. You may begin.

Executive
Alan Roden

Thank you, operator. Good afternoon, everyone, and thank you for joining our conference call today. I'm here with Dan Bodner, Verint's CEO; and Doug Robinson, Verint's CFO.

Before getting started, I'd like to mention that accompanying our call today is a WebEx with slides. If you'd like to view these slides in real time during the call, please visit the IR section of our website at verint.com, click on the Investor Relations tab, click on the webcast link and select today's conference call. I'd also like to mention to draw your attention to the fact that certain matters discussed in this call may contain forward-looking statements within the meaning of the Private Security Litigation Reform Act of 1995, and other provisions of the federal securities laws. These forward-looking statements are based on management's current expectations and are not guarantees of future performance. Actual results could differ materially from those expressed in or implied by the forward-looking statements. The forward-looking statements are made as of the date of this call and except as required by law, Verint assumes no obligation to update or revise them. Investors are cautioned not to place undue reliance on these forward-looking statements. For more detailed discussion, how these and other risk and uncertainties could cause Verint's actual results to differ materially and those indicated in the forward-looking statements, please see our Form 10-K for the fiscal year ended January 31st, 2019, and other filings we make with the SEC.

The financial measures discussed today include non-GAAP measures, as we believe investors focus on those measures in comparing results between periods and among our peer companies. Our financial outlook and targets are provided only on a non-GAAP basis. Please see today's WebEx slides or earnings release in the Investor Relations section of our website at verint.com for a reconciliation of non-GAAP financial measures to GAAP measures. Non-GAAP financial information should not be considered in isolation from, as a substitute for or superior to GAAP financial information, but is included because management believes it provides meaningful supplemental information regarding our operating results when assessing our business and is useful to investors for informational and comparative purposes. The non-GAAP financial measures that Company uses have limitations and may differ from those used by other companies.

Now, I'd like to turn the call over to Dan. Dan?

Executive
Dan Bodner

Thank you, Alan. Good afternoon, everyone, and thank you for joining us today to review our second quarter and first half results. Q2 revenue came in at $324 million on a GAAP basis and $331 million on a non-GAAP basis. Excluding the impact of currency, non-GAAP revenue came in at $335 million, reflecting 8.6% year-over-year growth on a constant-currency basis. Q2 EPS came in at $0.16