Verint SPAC Presentation Deck
Estimated Non-GAAP Fully Allocated Operating Margins
and Estimated Fully Allocated Adjusted EBITDA
($ in millions)
Non-GAAP segment revenue
Segment contribution (1)
Estimated allocation of shared support expenses (2)
Estimated non-GAAP operating income
Depreciation and amortization (3)
Estimated adjusted EBITDA
Segment contribution margin
Estimated non-GAAP fully allocated operating margin
Estimated fully allocated EBITDA margin
$
Customer
Customer
Engagement Intelligence Consolidated Engagement
$
For Year Ended
January 31, 2019
Cyber
811.3 $ 433.8 $ 1,245.1 $ 215.9
316.8
106.9
209.9
19.4
229.3
39.0%
25.9%
28.3%
$
114.0
57.0
57.0
10.4
67.4 $
26.3%
13.1%
15.5%
430.8
163.9
266.9
29.8
296.7 $
34.6%
21.4%
23.8%
Three Months Ended
April 30, 2019
Cyber
Intelligence
78.8
28.6
50.2
5.1
55.3
36.5%
23.3%
25.6%
$
$
108.3 $
27.3
15.2
12.1
2.7
14.8 $
25.2%
11.1%
13.6%
Consolidated
324.2
106.1
43.8
62.3
7.8
70.1
32.7%
19.2%
21.6%
Note: Amounts may not cross foot due to rounding.
(1) See footnote 16 to our Form 10-K for the year ended January 31, 2019, 2018 and 2017, and footnote 16 to our April 30, 2019 Form 10-Q.
(2) When determining segment contribution, we do not allocate "Shared support expenses" which are provided by shared resources or are otherwise generally not controlled by segment management, the majority of which are expenses
for administrative support functions, such as information technology, human resources, finance, legal, and other general corporate support, and also include occupancy expenses, procurement, manufacturing support, and logistics
expenses. For the year ended January 31, 2017 expenses are allocated proportionally to our year ended January 31, 2017 annual non-GAAP segment revenue. For the year ended January 31, 2018 expenses are allocated proportionally
to our year ended January 31, 2018 annual non-GAAP segment revenue. For the year ended January 31, 2019 and three months ended April 30, 2019 expenses are allocated proportionally to our year ended January 31, 2019 annual
non-GAAP segment revenue which we believe provides a reasonable approximation for purposes of understanding the relative non-GAAP operating margins of our two businesses.
(3) Represents certain depreciation and amortization expenses, which are otherwise included in our non-GAAP operating income, allocated proportionally to our non-GAAP segment revenue for the years ended January 31, 2019,
January 31, 2018 and January 31, 2017, respectively, which we believe provides a reasonable approximation for purposes of understanding the relative adjusted EBITDA of our two businesses.
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