Q2 2025 Verint Systems Inc Earnings Call Transcript
Key Points
- New AI bookings increased over 40% year over year in Q2.
- Bundled SaaS revenue driven by AI increased 15% year over year, showing acceleration from Q1.
- Verint Systems Inc (VRNT) is maintaining its full-year guidance of 5% revenue growth and 10% adjusted EBITDA growth.
- The company reported strong AI business outcomes from various AI-powered bots, including significant cost savings and efficiency improvements for customers.
- Verint Systems Inc (VRNT) has a strong balance sheet with net debt well under 1x the last 12-month EBITDA and a new $200 million share buyback program over two years.
- Unbundled SaaS revenue came in lower than expectations due to deal timing.
- The company expects a small amount of conversions in H2, indicating slower-than-expected transition to cloud-based solutions.
- Gross margins are expected to be lower in Q3 compared to Q2, with higher operating expenses anticipated.
- There is a possibility that about $20 million of expected unbundled SaaS revenue may shift from Q4 to Q3, indicating potential revenue timing issues.
- The competitive landscape remains challenging, with new entrants and existing competitors vying for market share in the AI and contact center space.
Good day, and thank you for standing by. Welcome to the Verint Q2 2025 earnings conference call. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Matthew Frankel, Investor Relations and Corporate Development Director.
Thank you, operator. Good afternoon, and thank you for joining our conference call today. I'm here with Dan Bodner, Verint's CEO; Grant Highlander, Verint's CFO; and Alan Roden, Verint's Chief Corporate Development Officer.
Before getting started, I'd like to mention that accompanying our call today is a slide presentation. 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, then click on the webcast link and select today's conference call.
I would also like 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 Securities
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