Verint Systems Inc. (NASDAQ:VRNT) stock plunges 10.33% (As on September 5, 11:24:15 AM UTC-4, Source: Google Finance) after the company reported second quarter results that missed analyst estimates on both the top and bottom lines, while reaffirming its full-year guidance. The company ended the quarter with $207.8 million in cash and cash equivalents. The company had launched the AI platform a year ago and the company now have many customers, including some of the world’s leading brands, reporting strong AI business outcomes achieving significant ROI with Verint’s AI-powered bots. In Q2, the company had reported strong AI bookings growth and Bundled SaaS revenue growth driven by AI. Gross Margin was up >150bps year-over-year. Bundled SaaS Revenue was up 15% year-over-year and  AI Bookings was Up >40% year-over-year. As of the end of Q2, the advanced stage bundled SaaS pipeline for the remainder of the year was up around 20% from the same period last year, reflecting the increasing market demand for tangible AI business outcomes.

VRNT in the second quarter of FY 25 has reported the adjusted earnings per share of 49 cents, missing the analysts’ estimates for the adjusted earnings per share of 53 cents. The company had reported the adjusted revenue growth of 3 percent to $210.17 million in the second quarter of FY 25, missing the analysts’ estimates for revenue of $212.81 million.

Additionally, the company has announced that the board of directors had authorized a new stock repurchase program for the period from August 29, 2024 until August 29, 2026, whereby the compa may repurchase shares of common stock not to exceed, in the aggregate, $200.0 million during the repurchase period.

For the full fiscal year 2025, Verint reaffirmed its outlook, expecting revenue of $933 million, plus or minus 2%, and adjusted earnings per share of $2.90 at the midpoint of its revenue guidance. This compares to analyst consensus estimates of $936.17 million in revenue and $2.91 in EPS.

Meanwhile, the company has recently announced that a major healthcare company is expanding its use of the Verint Interaction Wrap Up Bot from 300 to 30,000 agents in their contact center. The company has also recently announced that a leading bank has improved its contact center Net Promoter Score^® (NPS) twelvefold through the AI-powered Verint Quality Bot and Verint Coaching Bot. The Verint Quality Bot was deployed to automate the quality process and create an accurate, consistent view of performance and agent skills in the contact center