Verint Systems Inc. (VRNT) · 10+ Years of Financial statements

Income Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	704	727	783	840	907	1,128	1,130	1,062	1,135	1,230	847	830	875	902	910
+ Sales & Services Revenue	704	727	783	840	907	1,128	1,130	1,062	1,135	1,230	847	830	875	902	910
- Cost of Revenue	240	238	268	282	306	415	429	423	447	449	304	288	299	295	277
+ Cost of Goods & Services	240	238	268	282	306	415	429	423	447	449	304	288	299	295	277
Gross Profit	464	488	514	558	601	713	701	639	688	781	542	543	576	607	633
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	398	415	428	458	479	634	634	622	640	666	544	485	529	550	565
+ Selling, General & Admin	292	297	294	318	327	415	413	407	415	426	379	327	377	393	406
+ Research & Development	84	97	111	116	127	174	178	171	191	209	134	128	123	131	134
+ Other Operating Expense	22	21	23	24	25	45	43	44	34	31	31	30	29	26	25
Operating Income (Loss)	66	73	86	100	122	79	68	17	49	114	-2	57	47	57	68
- Non-Operating (Income) Loss	41	35	40	32	59	58	45	41	30	36	38	99	7	3	7
+ Interest Expense, Net	24	29	32	31	29	36	32	34	33	33	38	38	10	5	3
+ Interest Expense	25	30	32	31	30	37	34	35	36	37	40	40	10	8	10
- Interest Income	1	- -	1	1	1	1	1	1	2	5	2	1	- -	3	7
+ Other Non-Op (Income) Loss	17	5	9	1	30	22	12	7	-4	4	-1	61	-3	-2	4
Pretax Income	24	39	46	68	63	21	23	-23	19	78	-40	-42	40	55	61
- Income Tax Expense (Benefit)	7	10	6	9	5	-15	1	3	22	8	7	7	24	39	22
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	17	29	41	59	59	36	22	-26	-3	70	-47	-49	16	16	40
- Net Extraordinary Losses (Gains)	3	6	7	10	10	11	9	6	6	8	-68	-34	2	2	2
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	82	48	- -	- -	- -
+ Extraord. & Accounting Changes	3	6	7	10	10	11	9	6	6	8	-150	-83	2	2	2
Income (Loss) Incl. MI	14	23	33	49	49	25	13	-33	-10	62	22	-14	13	14	38
- Minority Interest	-1	-3	-4	-5	-5	-5	-5	-3	-3	-4	-7	-7	-1	-1	-1
Net Income, GAAP	16	26	37	54	54	31	18	-29	-7	66	29	-7	14	15	39
- Preferred Dividends	14	14	15	15	- -	- -	- -	- -	- -	- -	- -	8	19	21	21
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2	11	22	39	54	31	18	-29	-7	66	29	-15	-5	-6	18
Basic Weighted Avg Shares	32	35	38	40	53	58	62	63	63	65	66	65	66	65	64
Basic EPS, GAAP	0.06	0.33	0.58	0.97	1.01	0.53	0.29	-0.47	-0.1	1.02	0.43	-0.23	-0.07	-0.09	0.28
Basic EPS from Cont Ops	0.53	0.83	1.06	1.48	1.11	0.63	0.36	-0.42	-0.05	1.08	-0.7	-0.75	0.24	0.24	0.62
Diluted Weighted Avg Shares	33	37	39	40	54	59	63	63	63	66	66	65	66	65	64
Diluted EPS, GAAP	0.06	0.31	0.56	0.96	0.99	0.52	0.28	-0.47	-0.1	1	0.43	-0.23	-0.07	-0.09	0.28
Diluted EPS from Cont Ops	0.52	0.77	1.03	1.46	1.09	0.61	0.35	-0.42	-0.05	1.06	-0.7	-0.75	0.24	0.24	0.62
EBITDA	115	122	140	157	178	179	174	132	154	203	79	143	122	125	140
EBITDA Margin (%)	16.34	16.79	17.83	18.66	19.65	15.83	15.41	12.39	13.6	16.52	9.32	17.2	13.98	13.89	15.34
EBITA	66	73	86	100	122	79	68	17	49	114	-2	57	47	57	68
EBIT	66	73	86	100	122	79	68	17	49	114	-2	57	47	57	68
Gross Margin (%)	65.9	67.21	65.71	66.41	66.23	63.21	62.05	60.21	60.64	63.47	64.07	65.37	65.86	67.3	69.56
Operating Margin (%)	9.33	10.06	11.05	11.86	13.48	7.01	6	1.64	4.28	9.29	-0.23	6.92	5.36	6.36	7.49
Profit Margin (%)	2.22	3.52	4.73	6.43	5.92	2.74	1.56	-2.77	-0.58	5.37	3.39	-0.88	1.65	1.65	4.24
Sales per Employee	281,453	259,571	244,578	262,357	266,851	235,091	226,053	208,256	218,313	201,598	130,235	193,081	198,752	209,824	246,051
Dividend per Share	0.13	0.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.02	0.2	0.32	0.33
Depreciation Expense	49	49	53	57	56	99	106	114	106	89	81	85	75	68	71

Balance Sheet	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	408	402	401	502	694	710	754	672	782	1,006	999	1,278	655	620	573
+ Cash, Cash Equivalents & STI	184	170	151	224	411	321	408	311	345	402	399	632	360	283	242
+ Cash & Cash Equivalents	184	170	151	210	379	285	352	307	338	370	379	585	359	282	241
+ ST Investments	- -	- -	- -	14	32	36	56	3	7	32	20	46	1	1	1
+ Accounts & Notes Receiv	128	151	155	168	194	262	256	267	296	439	447	243	237	261	257
+ Accounts Receivable, Net	128	151	155	168	194	262	256	267	296	376	382	206	194	188	190
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	63	65	37	43	73	67
+ Inventories	14	17	14	15	11	18	18	18	20	25	20	6	5	13	14
+ Raw Materials	6	7	5	4	3	6	7	9	10	11	10	3	3	3	4
+ Work In Process	5	5	6	6	6	8	7	4	6	6	5	- -	- -	- -	- -
+ Finished Goods	4	5	4	5	2	3	4	4	4	9	6	3	2	9	10
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	81	64	81	95	79	110	71	77	121	140	132	398	54	63	60
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	989	974	1,099	1,063	1,079	1,630	1,602	1,691	1,798	1,861	2,017	1,984	1,706	1,694	1,653
+ Property, Plant & Equip, Net	24	23	28	38	40	62	69	78	89	100	218	127	100	102	78
+ Property, Plant & Equip	82	86	94	108	118	152	166	195	230	259	401	217	202	169	127
- Accumulated Depreciation	57	63	66	70	78	89	97	117	141	158	183	91	103	67	50
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	5	5	7
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	5	5	7
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	964	951	1,071	1,024	1,038	1,568	1,533	1,613	1,709	1,761	1,799	1,855	1,601	1,586	1,569
+ Total Intangible Assets	907	903	1,019	981	995	1,523	1,466	1,510	1,624	1,656	1,694	1,490	1,494	1,456	1,436
+ Goodwill	725	739	829	830	853	1,201	1,207	1,265	1,388	1,417	1,469	1,327	1,353	1,347	1,353
+ Other Intangible Assets	182	164	190	151	141	322	259	245	235	239	225	163	141	109	83
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	57	48	52	44	44	45	67	104	86	105	105	364	107	130	133
Total Assets	1,396	1,376	1,500	1,564	1,773	2,340	2,356	2,363	2,581	2,867	3,016	3,261	2,361	2,314	2,226
+ Payables & Accruals	202	65	79	79	93	104	113	100	132	115	120	122	71	94	80
+ Accounts Payable	47	37	49	47	66	73	65	62	85	72	72	35	40	44	26
+ Accrued Taxes	- -	8	12	10	9	17	27	20	26	28	34	23	17	17	16
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	155	20	18	22	19	14	20	18	21	15	14	63	14	33	38
+ ST Debt	23	- -	6	6	7	- -	2	5	4	6	27	401	25	8	5
+ ST Borrowings	23	- -	6	6	7	- -	2	5	4	4	4	387	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	23	14	25	8	5
+ Other ST Liabilities	186	279	298	310	314	374	328	357	369	541	556	641	384	369	333
+ Deferred Revenue	184	190	196	205	209	257	223	242	242	377	397	261	271	271	254
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	1	1	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2	88	101	104	104	115	105	115	127	163	159	380	113	98	78
Total Current Liabilities	410	344	383	394	413	478	442	462	506	662	703	1,163	479	471	418
+ LT Debt	598	583	591	582	643	726	736	744	772	781	930	462	439	452	444
+ LT Borrowings	598	583	591	571	636	726	736	744	768	778	833	403	407	409	411
+ LT Finance Leases	- -	- -	- -	11	7	11	- -	- -	3	3	98	60	32	43	33
+ Other LT Liabilities	403	85	95	73	83	131	109	141	171	164	140	147	51	96	95
+ Accrued Liabilities	51	54	36	24	27	63	60	61	72	86	80	49	33	30	20
+ Pension Liabilities	- -	3	3	3	3	3	3	3	3	3	3	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	351	29	56	46	53	66	46	78	96	75	57	98	18	66	75
Total Noncurrent Liabilities	1,001	669	687	655	726	858	845	885	943	944	1,071	610	491	548	539
Total Liabilities	1,411	1,013	1,070	1,049	1,140	1,336	1,288	1,348	1,448	1,606	1,774	1,773	970	1,019	957
+ Preferred Equity and Hybrid Capital	- -	286	286	286	- -	- -	- -	- -	- -	- -	- -	201	436	436	436
+ Share Capital & APIC	451	520	554	581	925	1,322	1,388	1,449	1,520	1,586	1,661	1,726	1,125	1,055	980
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	451	520	554	581	925	1,321	1,388	1,449	1,520	1,586	1,661	1,726	1,125	1,055	980
- Treasury Stock	2	7	7	8	8	10	10	57	57	58	174	208	- -	- -	- -
+ Retained Earnings	-420	-395	-358	-304	-250	-219	-201	-231	-238	-134	-106	-114	-55	-45	-7
+ Other Equity	-43	-42	-48	-44	-40	-94	-116	-155	-103	-145	-152	-137	-119	-154	-143
Equity Before Minority Interest	-15	362	427	510	627	998	1,060	1,007	1,121	1,249	1,229	1,473	1,389	1,292	1,266
+ Minority/Non Controlling Interest	- -	1	3	5	6	7	8	8	12	12	13	15	2	2	3
Total Equity	-15	363	430	515	633	1,005	1,068	1,015	1,132	1,261	1,242	1,488	1,391	1,294	1,269
Total Liabilities & Equity	1,396	1,376	1,500	1,564	1,773	2,340	2,356	2,363	2,581	2,867	3,016	3,261	2,361	2,314	2,226
Shares Outstanding	33	37	39	40	54	61	62	62	64	65	65	66	66	65	63
Capital Leases - Total	- -	- -	- -	11	7	11	- -	- -	3	5	120	74	57	51	39
Net Debt	437	413	447	367	264	441	386	442	435	412	458	204	48	127	170
Net Debt to Equity	-2,997.03	113.79	103.93	71.18	41.66	43.9	36.14	43.5	38.42	32.69	36.86	13.72	3.46	9.8	13.36
Tangible Common Equity Ratio	-188.35	-174.17	-181.91	-128.62	-46.47	-63.34	-44.69	-57.96	-51.34	-32.63	-34.16	-11.46	-62.24	-69.71	-76.22
Current Ratio	0.99	1.17	1.05	1.27	1.68	1.49	1.7	1.45	1.55	1.52	1.42	1.1	1.37	1.32	1.37
Cash Conversion Cycle	22.62	30.78	33.34	26.79	20	26.29	40.21	50.19	46.17	55.16	103.49	74.23	44.27	38.25	47.83
Number of Employees	2,500	2,800	3,200	3,200	3,400	4,800	5,000	5,100	5,200	6,100	6,500	4,300	4,400	4,300	3,700

Cash Flow Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	17	29	41	59	59	36	22	-26	-3	70	-47	-49	16	16	40
+ Depreciation & Amortization	49	49	53	57	56	99	106	114	106	89	81	85	75	68	71
+ Non-Cash Items	48	36	19	17	41	31	81	69	75	73	82	114	64	77	67
+ Stock-Based Compensation	31	29	22	21	30	54	64	65	69	67	65	45	65	76	68
+ Deferred Income Taxes	- -	-1	-11	- -	3	-47	-6	-17	-8	-3	-4	-1	-11	-10	-18
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	17	8	8	-4	9	24	22	20	14	10	22	71	10	10	17
+ Chg in Non-Cash Work Cap	-14	-43	-6	-10	22	27	-53	15	-1	-17	10	8	-20	-21	-28
+ (Inc) Dec in Accts Receiv	-14	-25	-3	-14	-23	-55	3	- -	-24	-16	-3	-4	5	-16	-16
+ (Inc) Dec in Inventories	6	-3	1	-2	3	-4	-3	- -	-3	-8	-1	1	-1	-8	-2
+ (Inc) Dec in Prepaid Assets	-12	10	6	-18	33	21	-3	5	-2	-5	2	-28	-33	-44	35
+ Inc (Dec) in Accts Payable	13	16	-7	-1	23	33	-15	-10	10	-16	-17	33	-2	6	-25
+ Inc (Dec) in Other	-7	-40	-4	24	-14	32	-35	21	17	27	29	7	10	41	-20
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	111	94	-9	- -	- -
Cash from Operating Activities	101	71	106	123	178	194	157	172	176	215	238	254	126	140	151
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-8	-11	-16	-20	-22	-29	-30	-30	-39	-39	-31	-21	-25	-28	-16
+ Acq of Fixed Prod Assets	-5	-9	-13	-16	-16	-23	-25	-28	-36	-32	-21	-14	-17	-28	-16
+ Acq of Intangible Assets	-3	-3	-3	-4	-7	-6	-5	-2	-3	-7	-10	-7	-8	- -	- -
+ Net Change in LT Investment	-19	-35	-1	-14	-19	-4	-21	52	-5	-25	-10	-33	46	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	179	18	72	89	7	34	9	70	46	11	4
+ Inc in LT Investment	-19	-35	-1	-14	-198	-21	-93	-37	-12	-59	-18	-103	-1	-11	-4
+ Net Cash From Acq & Div	- -	-23	-110	-1	-33	-605	-31	-142	-103	-90	-55	- -	-57	-22	-10
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-23	-110	-1	-33	-605	-31	-142	-103	-90	-55	- -	-57	-22	-10
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	3	-9	- -	-1	10	-39	7	3	- -	-22	-30	17	- -	-7	-11
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-30	17	- -	- -	- -
Cash from Investing Activities	-25	-78	-127	-36	-64	-677	-76	-116	-146	-176	-126	-37	-36	-57	-37
+ Dividends Paid	-4	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	-13	-21	-21
+ Net Cash From Debt	-6	-38	10	-22	61	165	- -	-3	12	-6	39	-65	-385	-4	-3
+ Cash From Debt	- -	- -	597	- -	647	1,527	- -	- -	444	- -	45	155	315	- -	100
+ Repayments of Debt	-6	-38	-588	-22	-586	-1,362	- -	-3	-432	-6	-6	-220	-700	-4	-103
+ Cash (Repurchase) of Equity	- -	-4	-2	-1	- -	272	- -	-47	- -	- -	-114	-37	-76	-129	-124
+ Increase in Capital Stock	- -	- -	- -	- -	- -	275	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	-4	-2	-1	- -	-2	- -	-47	- -	- -	-114	-37	-76	-129	-124
+ Other Financing Activities	- -	38	-6	-7	-6	-42	-10	-7	-18	-16	-36	176	44	-4	-5
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-10	-7	2	-29	55	396	-10	-57	-6	-22	-111	72	-430	-158	-153
Effect of Foreign Exchange Rates	3	- -	-1	1	- -	-6	-4	-4	4	-3	-2	- -	-1	-2	1
Net Changes in Cash	66	-14	-18	58	169	-87	71	-1	25	18	1	289	-340	-75	-40
Capital Expenditures	-8	-11	-16	-20	-22	-29	-30	-30	-39	-39	-31	-21	-25	-28	-16
EBITDA	115	122	140	157	178	179	174	132	154	203	79	143	122	125	140
EBITDA Margin (%)	16.34	16.79	17.83	18.66	19.65	15.83	15.41	12.39	13.6	16.52	9.32	17.2	13.98	13.89	15.34
Net Cash Paid for Acquisitions	- -	23	110	1	33	605	31	142	103	90	55	- -	57	22	10
Free Cash Flow	93	59	90	103	156	165	127	143	138	176	207	232	101	112	135
Free Cash Flow to Firm	111	82	118	130	184	- -	159	- -	131	210	- -	- -	105	114	141
Free Cash Flow to Equity	76	295	88	70	-63	335	131	142	153	178	255	368	-60	87	111
Free Cash Flow per Basic Share	2.87	1.72	2.34	2.6	2.94	2.83	2.05	2.28	2.17	2.72	3.13	3.57	1.54	1.71	2.1
Price/Free Cash Flow	2.81	7.84	4.66	4.82	6.1	7.23	6.16	5.79	6.28	6.34	7.32	8.91	22.1	14.42	11.64
Cash Flow to Net Income	6.46	2.76	2.88	2.28	3.32	6.26	8.9	-5.87	-26.61	3.26	8.29	-34.93	8.71	9.38	3.9

Verint Systems Inc.

VRNT US

35.01