Cognyte Software tumbles on Q2 revenue miss

COGNYTE SOFTWARE

28/09/2022 13:24

** Shares of security and analytics software provider
Cognyte Software Ltd  CGNT.O  down ~11% at $3.9 before the bell
    ** Company's Q2 revenue falls 30% to $81.1 mln, missing
analysts' average estimate of $92.5 mln, per Refinitiv IBES data
    ** Q2 net loss attributable to Cognyte Software widens to
$28.9 mln from $285,000 a year earlier 
    ** However, CGNT's Q2 adjusted loss per share of 4 cents is
smaller than the 17-cent loss expected by analysts
    ** CEO Elad Sharon says the global economic slowdown is
affecting company's near-term performance and Q2 revenue was
disappointing
    ** Up to Tuesday's close, stock had fallen ~72% this year
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))