Cognyte Software Ltd.

Good day, ladies and gentlemen. Thank you for standing by. Welcome to the CogNight third quarter fiscal year 2026 earnings conference call. At this time, all participants are on the listen-only mode. After this week's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star-1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star-1-1 again. Please note that today's conference may be recorded. I will now hand the conference over to your speaker host. Dean Ridlawn, Head of Investor Relations. Please go ahead.

Thank you, Operator. Hello, everyone. I'm Dean Ridlawn, Cognite's Head of Investor Relations. Thank you for joining us today. I'm here with Elad Sharong, 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 31, 2025, 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 a 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'd like to turn the call over to Elad.

Hello, everyone, and thank you for joining us. Cognite delivered another strong quarter in Q3 of fiscal 2026. Revenue grew in the mid-teens, operating income grew significantly faster, cash flow operations were strong, and the team continued to execute well. These results underscore the strength of our value proposition and the healthy demand for AI-powered investigative and decision intelligence solutions. Momentum continues to build. We are raising our full-year guidance and are making strong progress towards achieving our targets for the fiscal year ending January 31st, 2028. Let me walk you through the key drivers of the quarter. We executed with clarity and purpose, helping our customers make the world safer, and delivered meaningful customer wins across the law enforcement, national security, and military intelligence sectors. In Q3, we secured several major deals and expansions. This included a $5 million follow-on subscription agreement with the Tier 1 Military Intelligence Organization in EMEA, building on an earlier about $10 million perpetual award from this year. This marks another important win in the military intelligence domain, reinforcing the momentum we have established with different organizations. We also saw continued momentum with longstanding national intelligence customers, renewing and expanding multimillion dollar contracts, reflecting the strength of our repeat business and the trust our existing customer base places in us. While government customers typically procure through perpetual licenses, we continue to see strong patterns of reoccurring demand, driven by capacity expansions, new functionality, new use cases, and coverage of additional units within agencies. This repeatability in our perpetual business has the potential to drive very new durability, provide multi-visibility, and support our long-term growth. The US market continues to present a significant opportunity for us, and we continue to invest accordingly, expanding our partner ecosystem, strengthening our team, and increasing field activities. Our new partnership with LexisNexis Solutions is progressing well, with deepening technical alignment, expanding joint engagements, and strengthening our traction in both federal and state and local stakeholders. Over the past quarter, we participated in joint events and delivered structured solution training to their sales organization. This is one example of the multiple partnerships we are building to broaden our reach and grow our business in this region. We continue to see increased interest for military intelligence organizations, including from several NATO countries, reflecting the growing relevance of our capabilities to multi-domain defense missions. At the same time, momentum across core law enforcement and national intelligence markets remains strong. Recent industry events reinforce these trends with meaningful customer conversations and expanding engagement across all regions. Today's threat environment is more connected, fluid, and complex than ever. Our customers face adversaries that cross borders, mandates, and restrictions when the data needed to understand threats remains fragmented in silos. Our customers and we are increasingly seeing threat vectors evolve into hybrid and transnational scenarios. Let me share what this actually looks like in the real world. First, a case involving sophisticated transnational criminal networks. Opioids move across borders. Violent crime rises in major cities. Unusual cryptocurrency flows are detected by financial intelligence units. On paper, these appear unrelated. Border police focus on drugs, local police handle the violence, and financial intelligence units investigate the illicit finance. Each operates within its own mandate and its own systems. But when you correlate the signals, trafficking routes, communication metadata, financial flows, and travel patterns, it becomes clear these activities are being conducted by the same criminal network. Another example, a case involving hybrid activity driven by state-backed actors. Online personas incite social unrest. Protesters turn violent in major cities. A hospital is hit by ransomware. Again, disappear unrelated. The intelligence agency tracks the online activity. Public order unit deal with the unrest. And cyber unit handles the hospital. Each operates within its own mandate and its own systems. But when you correlate the signals, cyber indicators, financial flows, travel patterns, online behaviors, it becomes clear. It is one coordinated campaign. The adversaries see the whole picture. For the agencies, it's a significant challenge. And whether the threat is criminal, financial, terror, or hybrid, the root problem is always the same. The threat is unified. The data is not. This is exactly where Cognite creates the most value. We help the good guys close the gap by giving them a clearer picture of the threats they need to predict and prevent. We help agencies eliminate the unknown by revealing the hidden connections adversaries rely on. Our AI-driven, multi-domain, multi-source, cost restrictions decision intelligence platform fuses data across silos, uncovering hidden insights that allow agencies to resolve identities and relationships detect hybrid behavior and criminal patterns, and enable faster, higher confidence decisions. And while our platform can uncover insights across silos, its value begins inside each individual agency, unit, and mission. Every day, we power investigative, tactical, and analytical workflows for financial intelligence, border security, organized crime investigations, counter-terror, and more. This strong foundation inside each agency is ultimately what makes wider collaboration possible. I mentioned earlier that RETs are unified and data is not. We operate in one of the most complex data environments in the world. Massive volumes, high velocity, fragmented systems, and dozens of structured and unstructured formats. We see data differently enabling agencies to analyze massive, diverse datasets that no human or point solution could process alone. Our platform ingests, normalizes, enriches, and correlates all of it, creating a coherent, connected operational picture of actionable intelligence. This is why we continue to win. Decision intelligence is becoming the foundation of modern investigations. and our technology leadership in this domain continues to be recognized. This quarter, we again received strong Gartner recognition for predictive analytics and intelligence platforms for improved decision-making. All I've just discussed is reflected in our financial results. We delivered another quarter of profitable growth with strong year-over-year gains across revenue and profitability. Our financial leverage remains strong. With 13% top-line growth, we nearly tripled non-GAP operating income year-over-year. Given our performance and momentum, we are raising our full-year outlook for the fiscal year ending January 2026. We now expect revenue of approximately $400 million, which represents year-over-year growth of approximately 14%, and adjusted EBITDA of approximately $47 million, which represents the overall growth of approximately 60%. As we look ahead, we see a future defined by opportunity. Demand for our capabilities is healthy and continues to grow. Our AI driven technology gives us a clear edge and our team are executing with position and purpose. With the deep trust of our growing global customer base, we're excited about the future and well positioned for the road ahead. We remain committed to delivering sustained value for our customers, our partners, our employees, and our shareholders. David, over to you.