Cognyte board approves $20 million boost to share repurchase program

Cognyte Software Ltd. (NASDAQ: CGNT) announced that its board of directors has approved a $20 million increase to the company's existing share repurchase program.

This authorization represents the company's third $20 million repurchase approval since launching its program in November 2024. The increase brings total authorized share repurchases to $40 million.

Prior to this authorization, approximately $8.9 million of the existing $20 million share repurchase authorization had been utilized, according to the company's statement.

The company may repurchase its ordinary shares through open market purchases, privately negotiated transactions, or other methods in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934. Cognyte may also enter into plans compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases.

The repurchase program does not obligate the company to acquire any particular number of ordinary shares and may be suspended or discontinued at any time. Repurchases under the additional program may begin after a 30-day period for creditors to object in accordance with Israeli Companies Regulations.

The timing, number, and value of shares to be repurchased will depend on market price, general market conditions, and other factors. Cognyte expects to fund repurchases with cash on its balance sheet and ongoing cash flow generation.

Cognyte develops software-driven technology for investigative analytics, serving law enforcement, national security, and intelligence agencies. The company is based in Herzliya, Israel.

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