Verint Systems (NASDAQ:VRNT) shares fell nearly 5% today on the company’s disappointing guidance, while Q4 results were solid.
Q4 EPS was $0.75, compared to the Street estimate of $0.72. Revenue came in at $236.8 million, compared to the Street estimate of $237.14 million.
With the SaaS transition viewed as largely complete at this point with recurring approaching 90% of software revenue, SaaS ARR was introduced as an operating metric, which is likely to become a focus metric.
For the full 2024 year, the company expects EPS of $2.65, worse than the Street estimate of $2.71. and revenue of $935 million, compared to the Street estimate of $948 million. SaaS revenue is expected to grow 25%-30% year-over-year.