The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mike Cikos - Needham & Company LLC - Analyst
: Hey guys, this is Matt Calitri over at Needham. Nice to see that the revenue outlook raised again. Can you help us think through your updated
assumptions there around the US federal environment, the GroupSense contribution and any contributions from the large deals signed during
the quarter?
Question: Mike Cikos - Needham & Company LLC - Analyst
: That's great. With the US specifically, how are conversations compared to expectations? I know you said budgets remain challenged, and that's
consistent with what we're hearing. But are budgets starting to open up at all, or is it a lot of the same still?
Question: Mike Cikos - Needham & Company LLC - Analyst
: Understood, and great to hear. And then you noted you're still expecting an 87%, 13% split between software and professional services for the
year. Is there any seasonality at play with that? Or what gives you confidence that the software revenue mix will increase in the second half of this
year?
Question: Mike Cikos - Needham & Company LLC - Analyst
: Very helpful. Thank you.
Question: Taz Koujalgi - ROTH Capital - Analyst
: Hey, guys. Can you guys hear me?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Quick question. On the quarter, if you can just clarify, how much of the growth came from existing customers buying more products versus data
growth? I know your growth is driven by data growth and new products being adopted by your customers. Can you just give us some color on
how much of the growth this quarter was driven by data versus new products?
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SEPTEMBER 09, 2025 / 12:30PM, CGNT.OQ - Q2 2026 Cognyte Software Ltd Earnings Call
Question: Taz Koujalgi - ROTH Capital - Analyst
: Very helpful. And then, Elad, you mentioned that you had some displacements of incumbents in Europe, and I think even in the US, you said you
displaced some of the existing vendors. Can you talk about what is driving that displacement? What is the -- what is your secret sauce or what is
the functionality that you bring to the table that is allowing you to displace the incumbents, you mentioned, I think, EMEA as well as in the US?
Question: Taz Koujalgi - ROTH Capital - Analyst
: I know the majority of the growth comes from existing new logos, it's still a small portion of the growth driver. But when you think about new logos
acquisition, how much of that displacing an existing vendor versus completely greenfield? Is there a lot of greenfield out there or most of the new
logos that you acquire is coming from the existing and incumbent?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Got it. I just have a few more. Maybe for David. David, the billings number was very strong this quarter. I think if I look at the seasonal, the jump
from Q1, it seems stronger than usual seasonality. Anything to call out in the billings trend this quarter?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Yes. The billings number this quarter was very strong. I think if you look at the typical seasonality, you don't see a big jump from Q1 to Q2. But I
think this quarter, we saw a big jump in billings. I believe last quarter was $78 million and I think you're doing $93 million this quarter in billings.
That seems like a big jump. Anything to call out? Anything specific that drove that strength in billings this quarter?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Very helpful. And then the recurring revenue mix of 48%, I think that's been pretty consistent. Do you expect that to trend up quite a bit? Or we
should see that level of 48% sort of sustained in the next few quarters?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Yes. Well, last one for me guys. Elad, you mentioned that US is still early. You're not assuming a lot of contribution from US for your guide for this
year. But we also have a long-term guide of $500 million. Are you assuming that US becomes a sizable portion of your revenue mix to get to that
$500 million, or US doesn't have to inflect that much for you to reach your $500 million target?
Question: Taz Koujalgi - ROTH Capital - Analyst
: Got it. That's it for me, guys. Thank you.
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SEPTEMBER 09, 2025 / 12:30PM, CGNT.OQ - Q2 2026 Cognyte Software Ltd Earnings Call
Question: Charlie Jo - Evercore ISI - Analyst
: Thank you so much for taking my question. This is Charlie for Peter, Evercore ISI. I just have two quick ones. First, could you please help us to think
about how the overall deal pipeline is trending versus 6 to 12 months ago, and if you have observed any incremental pressure from macro?
And secondly, just in terms of the overall threat landscape, have you seen any new trends in the public sector? Any color would be super helpful.
Thank you so much.
Question: Charlie Jo - Evercore ISI - Analyst
: Yes.
Question: Charlie Jo - Evercore ISI - Analyst
: Great, thank you.
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