Cognyte Software Ltd.

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Cognite third quarter fiscal year 2025 for news conference call. At this time, all participants on the list are in only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automatic message advising your hand is raised. Please note that today's conference may be recorded. I will now hand the conference over to your speaker host, Dean Ridland, Head of Investor Relations. Please go ahead.

Thank you, operator. Hello, everyone. I'm Dean Ridland, Cognite's Head of Investor Relations. Thank you for joining us today. I'm here with Elad Jaron, Cognite's CEO, and David Abadi, Cognite's CFO. Before getting started, I would like to mention that accompanying our call today is a presentation. If you'd like to view these slides in real time during the call, please visit the investor section of our website at cognite.com. Click on Upcoming Events, then the webcast link for today's conference call. I would also like to draw your attention to the fact that certain matters discussed on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other provisions of the federal securities laws. These forward-looking statements are based on management's current expectations and are not guarantees of future performance. Actual results could differ materially from those expressed in or implied by these forward-looking statements. The forward-looking statements are made as of the date of this call and, except as required by law, Cognite assumes no obligation to update or revise them. Investors are cautioned not to place undue reliance on these forward-looking statements. For a more detailed discussion of how these and other risks and uncertainties could cause Cognite's actual results to differ materially from those indicated in these forward-looking statements, please see our annual report on Form 20F for the fiscal year ended January 31st, 2024, and other filings we make with the SEC. The financial measures discussed today include non-GAAP measures. We believe investors focus on non-GAAP financial measures in comparing results between periods and among our peer companies that publish similar non-GAAP measures. Please see today's presentation slides, our earnings release, and the investor section of our website at Cognite.com for reconciliation of non-GAAP financial measures to GAAP measures. Non-GAAP financial information should not be considered in isolation from, as a substitute for, or superior to GAAP financial information. but is included because management believes it provides meaningful information about the financial performance of our business and is useful to investors for informational and comparative purposes. The non-GAAP financial measures that the company uses have limitations and may differ from those used by other companies. Now, I would like to turn the call over to Alaa.

Thank you, Dean. Welcome everyone to our third quarter conference call. This was another quarter of solid execution for Cognite. We continue to deliver on our business plan, advance our growth initiatives, and drive improved profitability. The market for our solutions remains robust and is evolving as anticipated, driving predictable and sustainable growth. Our execution resulted in another quarter of double-digit revenue growth, with adjusted EBITDA expanding more rapidly than revenue. Our day-to-day performance, combined with solid visibility and sustained demand, reinforces our confidence in the business. As a result, we are pleased to again raise our full-year outlook. During Q3, we grew revenue by 12% year-over-year to $89 million. Non-GAAP gross profit increased by 12% year-over-year. We generated approximately $7 million of positive adjusted EBITDA for the quarter, representing 42% year-over-year growth highlighting the strength of our financial model, and we believe our momentum went strong, fueled by significant deal wins during the quarter. These results and deal wins validated the strength of our technology, the differentiated value we provide to our customers, and the substantial opportunities that we believe lie ahead. A key pillar of our growth strategy is deepening and broadening engagements with our existing customers. We achieved this by increasing the number of groups and the number of users leveraging our solutions and by offering additional capabilities to address emerging threats and evolving priorities. One of the trends that is driving expansions is enabling our customers to handle the rapidly growing volume and variety of data they need to analyze. An example is the explosion in mobile data driven by the transition to 5G, which has significantly increased the complexity and scale of their challenges. According to a report recently issued by Ericsson, mobile data traffic is growing at an annual rate exceeding 20%. This surge in data volumes and diversity underscores the need for advanced analytics, including AI-powered solutions, to extract actionable and timely insight from the expanding data landscape. By delivering the solutions that address this need, we strengthen our customers' relationships and drive sustained demand. In Q3, we secured four significant orders from existing customers. Two deals were valued at more than $20 million. The other two were valued at over $10 million. We issued press releases announcing these notable deals over the past few weeks. These longstanding customers have consistently derived substantial value from our solutions over the years. We believe this demonstrates the indispensable role our solutions play in addressing our customers' evolving challenges delivering the quality, reliability, and power such customers require to operate effectively in complex environments. We continue to expand our customer base, signing nine new customers this quarter alone. This includes five contracts valued at over $1 million each, and one significant contract worth $5 million. These new customers span across different regions and segments, highlighting the broad opportunity in the market. Additional wins in North America underscored our steady progress in establishing our foothold in this market. A few weeks ago, we announced a full loan order valued at over $2 million from a highly respected and influential North American law enforcement agency. This agency initially selected our solutions just over a year ago to replace their incumbent provider solution. Since then, the agency has recognized the superior operational intelligence value our solutions deliver. With this latest order, The customer's total investment exceeds $3 million, highlighting their trust in Cognite and in our solution's ability to meet their critical operational needs. We anticipate that future potential North American customers will likely follow a similar trajectory, starting with smaller initial orders and expanding their investments over time as they realize measurable improvements in efficiency and outcomes. We continue to actively pursue opportunities in North American federal markets. Federal customers explore and rigorously test potential new solutions for long periods of time to validate their effectiveness before making the purchase. As a result, the sales cycle with these customers is expected to be longer than what you've experienced with state and local law enforcement agencies. Nonetheless, we are pleased with the level of engagement we have with these potential customers in this important market segment. To further strengthen our efforts in the U.S., we recently welcomed Timothy O'Callaghan, a retired U.S. Marshall branch chief, to help lead our initiatives aimed at expanding our presence. His extensive experience and deep understanding of operations will be invaluable as we build our momentum in this market. We continuously engage with our customers around the globe to understand better and help them address their challenges. Recently, we hosted our Global Cognite Intelligence Summit in Europe, a landmark event where we introduced our latest AI-powered innovations. Over 300 attendees from about 70 countries representing law enforcement, national intelligence, and national security agencies explored today's critical security challenges and the transformative role of our technology. The event featured a keynote by retired Admiral Mike Rogers, former commander of the United States Cyber Command, director of the NSA, and chief of the Central Security Service, who shared insights into the intersection of intelligence and technology. The Admiral underscored the challenges agencies face are not getting any easier. However, adversaries must engage with a broader environment. They need to communicate, they need to move, and they need to access and transfer money. He highlighted that with the right technology, these interactions present opportunities. And this is where Cognite's advantage lies, leveraging technology to transform these interactions into actionable intelligence. He also noted, agencies work to generate deep knowledge about the environment and operational landscape, transforming information into actionable outcomes. He emphasized two things, excelling in addressing present challenges while proactively positioning themselves for future success with the right tools and technology. These are the exact principles that we use to align our focus in product development, advanced tools for actionable insights and future readiness. At the summit, we also hosted 10 external speakers, including former heads of agencies, counterterrorism experts, and representatives from global think tanks, both reinforcing our position as a thought leader and fostering discussions on the evolving threat landscape. The key insight from the summit underscores how the world's challenges are becoming more complex and the lines between different types of crime are increasingly blurred. Criminals and terrorists are adopting each other's tactics, creating diversified and globalized networks that evade traditional defenses. Bad actors exploit advanced technologies like encrypted communications, dark web networks, and cryptocurrency to evade detection. Increasingly, They are leveraging AI to obscure their operations, creating unprecedented challenges for security agencies tasked with protecting citizens and combating crime. This quarter, I want to highlight how our technology addresses the critical challenges posed by organized crime. Agencies face the task of identifying members of criminal organizations and mapping their networks, including leadership structures, funding sources, and intentions. Despite the efforts to conceal activities, this group inevitably leaves behind valuable digital footprints. However, as the volume and diversity of digital information grow exponentially, extracting actionable insights becomes increasingly complex. This is where leveraging advanced technology is no longer optional, it is essential. With the right solutions, like ours, agencies can efficiently analyze vast amounts of structured and unstructured data uncover hidden connections, and accelerate investigations to achieve successful outcomes. To illustrate, a few months ago in Central America, our solutions enabled authorities to dismantle one of the continent's largest drug trafficking networks. By providing the right insights at the right time, security agencies intercepted seven tons of cocaine off the coast. This example demonstrates the decisive impact our solutions have in combating organized crime on a global scale. We are making a meaningful difference for our customers, empowering them to address significant and evolving threats. Our mission to make the world a safer place drives everything we do. By combining cutting edge technology with proven methodologies, we enable faster decision making, accelerate investigations, and help mitigate a wide range of threats. This is why customers around the globe continue to place their trust in our solution. In summary, We continue to grow by introducing new advanced capabilities, deepening our relationships with existing customers, as well as expanding our reach with new ones. These accomplishments strengthen our ability to deliver growth. With solid execution during the first three quarters of fiscal 25, we are once again in a position to raise our fully-routed outlook for revenue and adjusted EBITDA. We now expect revenue to be approximately $349 million, plus or minus 1%, representing about 11% overall growth at the midpoint of the range. Given the leverage in our financial model, we increased our adjusted EBITDA guidance, and we now expect it to be about $26 million at the midpoint of the revenue range, almost three times what we generated in fiscal 24. Looking beyond this year, our focus remains on driving resilient growth for the long term, increased profitability, operational excellence, and deepening our market leadership. We believe that our strategy positions us well to capitalize on the server market conditions and create value for both our customers and shareholders. Now, let me turn the call over to David to provide more details about our Q3 results and updated fiscal 25 outlook. David.