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Financial data and information services · subsidiary of Thoma Bravo · United States

Verint Systems

verint.com ↗

Verint sells call-center analytics and AI agent software to large enterprises.

Losing its protection
Assessed 21 July 2026 · Evidence as of 21 July 2026
The structural protection is eroding.
On the recordSince 21 July 2026 · Checkable from Q4 2026 · Every call on the record Checkpoint: Agent Factory Fortune-100 adoption results and ARR growth trend post Calabrio merger
The call

Verint has the customers and data to stay relevant, but its private-equity owner and slowing growth leave little room before Genesys, NICE, or AI-native rivals pull accounts away.

Verint helps big companies record and analyze customer service calls to score agent performance and spot problems. Competitors like Genesys and NICE can copy most of what Verint does, and new AI tools from companies like Sierra and Cresta are starting to do the work automatically while calls happen instead of after. The key question is whether Verint's new Agent Factory software (released mid-2026) actually gets used by major customers and speeds up growth, which would show the company still matters despite the competition.

Why
01
AI pressure: Sierra, Cresta, Decagon, and generic LLM contact-center AI. AI-native startups sell live, proactive agent AI that skips Verint's after-the-fact call scoring model entirely. Could AI do the core job? Only partly.
02
Bigger players: Genesys and NICE. Genesys ships AI copilots and predictive routing weekly, NICE's CXone competes head-to-head on the same workforce and AI feature set. Could a giant copy it? Yes, easily.
03
What protects it. Deep workflow lock-in and data access at 85%+ of Fortune 100 accounts, hard to rip out mid-contract.
What would change this call
Verint reports ARR growth rate in FY2026/2027 earnings updates. Whether growth reaccelerates toward 12% or stays stalled in mid-single digits.
Named Fortune-100 accounts disclosed as Agent Factory adopters by end of 2026. Whether Verint's new agentic AI product is gaining real enterprise traction.
Thoma Bravo announces refinancing, resale, or further Verint reorg/layoffs. Whether PE ownership is optimizing for exit rather than product investment.
Key numbers
  • FY2025 revenue ~$909-920M (2025-01-31)
  • Q2 FY2026 revenue fell ~1% YoY to $165.5M (2025-09-02)
  • Thoma Bravo paid $2B, $20.50/share, to take Verint private (2025-08-24)
Named risks
  • Thoma Bravo PE ownership may cut R&D or refinance/resell Verint, echoing Medallia's June 2026 resale. Severity: high
  • AI-native disruptors (Sierra, Cresta, Decagon, Observe.AI) running POCs inside Verint's own enterprise accounts. Severity: high
  • Verint-Calabrio merger integration ongoing since Dec 2025 with unproven combined product roadmap. Severity: medium
  • Revenue declined ~1% YoY and missed consensus by ~$35M in the quarter before going private (Sept 2025). Severity: medium
  • New CEO Dave Rhodes early in tenure (installed Feb 2026), raising further leadership/org change risk. Severity: low
Rivals, as read in July 2026
RivalDirectionEvidence
Genesyslosing toGenesys ships native AI copilot, virtual agents, predictive routing on weekly cadence with 600+ integrations as of May 2026
NICEcontestingNICE CXone competes directly on workforce engagement and analytics, overlapping core Verint feature set as of mid-2026
Five9contestingFive9 named as direct CCaaS/AI competitor in multiple 2026 vendor comparison analyses
Sierra, Cresta, Decagon, Observe.AIlosing toAI-native disruptors target live proactive AI, threatening to bypass Verint's after-the-fact scoring model as of 2026
MedalliacontestingThoma Bravo resold Medallia to Blackstone/Apollo/FSK group in June 2026, setting a PE exit precedent relevant to Verint
Questions people ask
Is Verint Systems still a public company in 2026?
No. Verint was taken private by Thoma Bravo in a deal valuing it at $2 billion enterprise value ($20.50/share, 18% premium), announced August 25, 2025 and closed November 26, 2025. It was then merged with Calabrio on December 9, 2025, forming a combined private CX platform company.
Who owns Verint Systems now?
Thoma Bravo, a private equity firm managing roughly $181-184 billion in assets, completed its acquisition of Verint on November 26, 2025 and merged it with portfolio company Calabrio on December 9, 2025, making Verint a wholly-owned PE portfolio company.
Is Verint profitable?
In its last full fiscal year as a public company (FY2025, ended January 31, 2025), Verint reported revenue of roughly $909-920 million, GAAP net income of about $65 million, and operating income of about $106 million, per company-reported figures.
Could AI replace Verint's core products?
Verint's core workflows, call scoring, speech/text analytics, and after-the-fact quality management, are exactly what generic LLM-based contact-center AI and rivals like Genesys and NICE target. Verint responded by launching agentic AI products including Verint Agent Factory in June 2026 to shift toward live orchestration.
Who is Verint's biggest competitor?
NICE (CXone) and Genesys (Cloud CX) compete head-to-head with Verint on workforce engagement and analytics; Genesys ships native AI features like agent copilot and predictive routing on a weekly release cadence as of May 2026, per company materials.
Did Verint miss its revenue targets before going private?
Yes. In the quarter reported September 2, 2025, Verint posted revenue of $165.52 million, down about 1% year-over-year and missing consensus estimates of $200.43 million, though non-GAAP EPS of $0.33 beat expectations, according to MarketBeat.
Timeline
  • 2026-06-22Engage 2026 conference launches four agentic AI products including Verint Agent Factory
  • 2026-02-01Dave Rhodes formally installed as CEO of combined Verint-Calabrio company
  • 2025-12-09Verint merged with Thoma Bravo portfolio company Calabrio
  • 2025-11-26Thoma Bravo acquisition of Verint closes
  • 2025-09-02Verint reports quarterly revenue of $165.52M, down ~1% YoY, missing consensus
  • 2025-08-25Verint agrees to $2B Thoma Bravo buyout at $20.50/share, 18% premium
  • 2025-06-03Q1 FY2026 results show 6% ARR growth, $208M revenue, 8% ARR growth guidance
  • 2025-01-31FY2025 ends: revenue ~$909-920M, net income ~$65M, operating income ~$106M
  • 2021-02-01Cognyte cyber-intelligence unit spun off from Verint as separate public company
  • 2013-02-01Verint becomes fully independent from Comverse Technology
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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