Cognyte approves $20 million share repurchase program

Cognyte Software Ltd. (NASDAQ: CGNT) announced its board of directors has authorized a new $20 million share repurchase program after completing a previous buyback initiative.

The company completed its previously announced repurchase program, buying back 2,094,538 ordinary shares for $20 million. The new program authorizes the repurchase of up to an additional $20 million in ordinary shares over 18 months through January 14, 2027.

The Israel-based investigative analytics software company may repurchase shares through open market purchases, privately negotiated transactions, or other methods in accordance with U.S. securities laws. The program does not obligate the company to acquire any specific number of shares and may be suspended or discontinued at any time.

Repurchases may begin after a 30-day period for creditors to object to the company's intent to effect a deemed distribution by way of repurchase, in accordance with Israeli Companies Regulations. The company expects to fund repurchases with cash on its balance sheet and ongoing cash flow generation.

The timing, number, and value of shares to be repurchased will depend on market price, general market conditions, and other factors. Any acquired shares will be available for general corporate purposes.

Cognyte provides software-driven technology for investigative analytics to law enforcement, national security, and intelligence agencies. The company's solutions utilize artificial intelligence, big data analytics, and machine learning technologies.

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