Cognyte Software Posts Adj. Loss In Q2 - Quick Facts

Cognyte Software Ltd. (CGNT) reported a second-quarter adjusted loss per share of $0.04 compared to profit of $0.17, prior year. On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.17, for the quarter. Analysts' estimates typically exclude special items.

GAAP net loss attributable to Cognyte was $28.87 million compared to a loss of $285 thousand, last year. Loss per share was $0.43 compared to breakeven per share, prior year.

Non-GAAP revenue declined to $81.35 million from $116.38 million, previous year. Analysts on average had estimated $92.49 million in revenue.

"We are taking actions to focus our resources on the highest potential opportunities, to reduce our cost structure, and to regain visibility," said Elad Sharon, CEO.

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