Verint Systems Inc. (NASDAQ:VRNT) Q3 2019 Earnings Conference Call - Final Transcript

Dec 04, 2019 • 04:30 pm ET


Verint Systems Inc. (NASDAQ:VRNT) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Verint Systems Inc. Q3 Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to your speaker today, Alan Roden, Senior Vice President of Corporate Development. Thank you. Please go ahead, sir.

Alan Roden

Thank you, operator, and good afternoon 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 real time during the call, please visit the IR section of our website at, click on the Investor Relations tab, click on the webcast link and select today's conference call.

I'd like to also draw your attention to the fact that certain matters discussed in the call may contain forward-looking statements within the meaning of the Private Securities 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 of how these and other risk and uncertainties could cause Verint's actual results to differ materially from those indicated in the forward-looking statements, please see our Form 10-K for the fiscal year ended January 31, 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 on a non-GAAP basis only. Please see today's WebEx slides, our earnings releases in the Investor Relations section of our website at 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?

Dan Bodner

Thank you, Alan. Good afternoon, everyone and thank you for joining our third quarter earnings call. We have a lot of exciting news to share and I plan to cover five topics during today's call. First, I will review our Q3 results by segment. Second, the strategic plan we announced today to separate Verint into two independent public companies. Third, the agreement for strategic investment from Apax partners.