Cognyte (NASDAQ:CGNT) shines with revenue growth and robust outlook
Cognite Software (NASDAQ:CGNT), a leader in analytics software, announced its financial results for both the fourth quarter and fiscal year 2024.
For the fourth quarter, Cognite Software reported a revenue of $83.691 million, aligning with both GAAP and non-GAAP figures.
The company also saw a gross margin of 68.5% according to GAAP and a slightly higher non-GAAP margin of 69%.
Meanwhile, basic and diluted earnings per share (EPS) were reported at $0.04 for GAAP and $0.23 for non-GAAP.
For fiscal 2024, the company reported a total revenue of $313.404 million in GAAP terms, with a non-GAAP revenue of $313.516 million.
The gross margin for this period stood at 68.7% under GAAP and 69.2% for non-GAAP.
Similarly, basic and diluted EPS for the year were recorded at $0.22 for GAAP and $0.21 for non-GAAP.
Looking ahead, the company provided its outlook for the fiscal year 2025.
It expects revenue to hit around $340 million, representing an 8.5% increase from the previous year's non-GAAP revenue.
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