Cognyte Software (NASDAQ: CGNT) stock was up in morning trading on Wednesday following mixed second-quarter results. Cognyte reported an adjusted loss of $0.04 per share in Q2 while analysts were expecting a loss of $0.12.
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The investigative analytics software company posted revenues of $81.1 million in Q2, down by around 30% year-over-year and falling short of Street estimates of $92.5 million.
Elad Sharon, Cognyte’s CEO commented, ” In the second quarter, our revenue was disappointing, but we are encouraged with bookings coming in higher than revenue and contributing to a substantial increase in backlog.”
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