Verint SPAC Presentation Deck
Estimated GAAP to Non-GAAP Fully Allocated Gross Margins - Cont'd
($ in millions)
GAAP Product revenue
GAAP Service revenue
Total GAAP revenue
Product costs
Service expenses
Amortization of acquired technology
Stock-based compensation expenses (1)
Shared support service allocation (2)
Total GAAP cost of revenue
GAAP gross profit
GAAP gross margin
Revenue adjustments
Amortization of acquired technology
Stock-based compensation expenses (1)
Acquisition expenses, net (3)
Restructuring expenses (3)
Non-GAAP gross profit
Non-GAAP gross margin
$
$
$
For Three Months Ended
April 30, 2019
Customer
Engagement
Note: Amounts may not cross foot due to rounding.
54.0 $
153.1
207.1
8.5
57.5
5.4
1.1
2.4
74.9
132.2
63.8%
8.8
5.4
1.1
0.3
147.8
68.4%
$
$
Cyber
Intelligence
50.2
58.0
108.2
17.9
18.5
1.3
0.3
1.3
39.3
68.9
63.7%
0.1
1.3
0.3
$
65.4%
$
0.2
70.8 $
Consolidated
104.2
211.1
315.3
26.4
76.0
6.7
1.4
3.7
114.2
201.1
63.8%
8.9
6.7
1.4
0.5
218.6
67.4%
(1) Represents the stock-based compensation expenses applicable to cost of revenue, allocated proportionally to our year ended January 31, 2019, annual operations and service expense wages for each segment, and the stock-based
compensation expenses applicable to cost of revenue, allocated proportionally to our year ended January 31, 2018 annual operations and service expense wages for each segment, which we believe provides a reasonable
approximation for purposes of understanding the relative GAAP and non-GAAP gross margins of our two businesses.
(2) Represents the portion of our shared support expenses (as disclosed in footnote 16 to our January 31, 2019 Form 10-K) applicable to cost of revenue, allocated proportionally to our year ended January 31, 2019 annual non-GAAP
segment revenue, and our shared support expenses (as disclosed in footnote 15 to our January 31, 2018 Form 10-K) applicable to cost of revenue, allocated proportionally to our year ended January 31, 2018 annual non-GAAP
segment revenue, which we believe provides a reasonable approximation for purposes of understanding the relative GAAP and non-GAAP gross margins of our two businesses.
(3) Represents the portion of our acquisition expenses, net and restructuring expenses applicable to cost of revenue, allocated proportionally to our year ended January 31, 2019, annual non-GAAP segment revenue, and our acquisition
expenses, net and restructuring expenses applicable to cost of revenue, allocated proportionally to our year ended January 31, 2018 annual non-GAAP segment revenue, which we believe provides a reasonable approximation for
purposes of understanding the relative GAAP and non-GAAP gross margins of our two businesses.
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