Verint recently provided its performance expectations for the rest of this fiscal year, which included an expansion in its margins supported by accelerating revenue growth from new bookings, customer conversions, and contract renewals. We now believe the company?s 2023 EBITDA margin could rise to the higher end of the range we provided in our most recent full analysis (see below). We expect Verint will continue to improve its operational performance into 2024 propelled by the completion of its software as a service (SaaS) transition, as well as continued customer growth and conversions. Our updated EBITDA assumptions include a more-rapid improvement in its leverage, with debt to EBITDA of closer to 2.5x, which is at the midpoint of our expected range
