Verint CFO says revenue overachievement driven by unbundled SaaS renewal revenue

Grant Highlander, Verint (VRNT) CFO, stated, “Q3 revenue came in at $224 million, around $14 million ahead of our guidance, representing approximately 5% year-over-year growth adjusted for last year’s divestiture. Our revenue overachievement was driven by unbundled SaaS renewal revenue coming in during Q3, that we previously expected to come in Q4. In addition, gross margins expanded approximately 70bps year-over-year in Q3 driven by our mix shift to recurring revenue. We are pleased with the progress we have made year to date and we maintain our full year guidance for revenue and non-GAAP diluted EPS. We look forward to our upcoming investor day on January 14th where we will showcase our AI differentiation. Investors will hear directly from our customers on AI business outcomes and we will review our financial model, including FYE26 guidance, and our long-term model for monetizing AI.”