0001166388-22-000019 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Current Assets:
Cash and cash equivalents	$ 358,805	$ 585,273
Restricted cash and cash equivalents, and restricted bank time deposits	6	15
Short-term investments	765	46,300
Accounts receivable, net of allowance for credit losses of $1.3 million and $1.6 million, respectively	193,831	206,157
Contract assets, net	42,688	36,716
Inventories	5,337	5,541
Prepaid expenses and other current assets	53,746	42,814
Current assets of discontinued operations	0	354,926
Total current assets	655,178	1,277,742
Property and equipment, net	64,090	69,090
Operating lease right-of-use assets	35,433	57,849
Goodwill	1,353,421	1,327,407
Intangible assets, net	118,254	143,744
Long-term deferred income taxes	8,091	7,287
Other assets	126,638	97,224
Long-term assets of discontinued operations	0	280,952
Total assets	2,361,105	3,261,295
Current Liabilities:
Accounts payable	39,501	35,463
Accrued expenses and other current liabilities	168,694	211,517
Current maturities of long-term debt	0	386,713
Contract liabilities	271,271	261,033
Current liabilities of discontinued operations	0	268,713
Total current liabilities	479,466	1,163,439
Long-term debt	406,954	402,781
Long-term contract liabilities	15,872	16,502
Operating lease liabilities	28,457	56,712
Long-term deferred income taxes	17,460	32,991
Other liabilities	21,996	42,719
Long-term liabilities of discontinued operations	0	58,118
Total liabilities	970,205	1,773,262
Commitments and Contingencies
Temporary Equity:
Equity component of currently redeemable convertible notes	0	4,841
Total temporary equity	436,321	205,469
Stockholders' Equity:
Common stock — $0.001 par value; authorized 120,000,000 shares. Issued 66,211,000 and 70,177,000; outstanding 66,211,000 and 65,773,000 shares at January 31, 2022 and 2021, respectively.	66	70
Additional paid-in capital	1,125,152	1,726,166
Treasury stock, at cost — No shares and 4,404,000 shares at January 31, 2022 and 2021, respectively.	0	(208,124)
Accumulated deficit	(54,509)	(113,797)
Accumulated other comprehensive loss	(118,515)	(136,878)
Total Verint Systems Inc. stockholders' equity	952,194	1,267,437
Noncontrolling interests	2,385	15,127
Total stockholders' equity	954,579	1,282,564
Total liabilities, temporary equity, and stockholders' equity	2,361,105	3,261,295
Series A Preferred Stock
Temporary Equity:
Preferred Stock — $0.001 par value; authorized 2,207,000 shares	200,628	200,628
Series B Preferred Stock
Temporary Equity:
Preferred Stock — $0.001 par value; authorized 2,207,000 shares	$ 235,693	$ 0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Allowance for credit losses	$ 1,300	$ 1,600
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	2,207,000	2,207,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	66,211,000	70,177,000
Common stock, outstanding (in shares)	66,211,000	65,773,000
Treasury stock, at cost (in shares)	0	4,404,000
Series A Preferred Stock
Preferred stock, issued (in shares)	200,000	200,000
Preferred stock, outstanding (in shares)	200,000	200,000
Preferred stock, liquidation preference value	$ 206,067	$ 206,067
Preferred stock, redemption value	$ 206,067	$ 206,067
Series B Preferred Stock
Preferred stock, issued (in shares)	200,000	0
Preferred stock, outstanding (in shares)	200,000	0
Preferred stock, liquidation preference value	$ 206,067
Preferred stock, redemption value	$ 206,067

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Revenue:
Revenue	$ 874,509	$ 830,247	$ 846,525
Cost of revenue:
Amortization of acquired technology	17,777	17,962	21,579
Total cost of revenue	298,572	287,551	304,163
Gross profit	575,937	542,696	542,362
Operating expenses:
Research and development, net	123,291	128,152	134,236
Selling, general and administrative	376,808	327,345	379,234
Amortization of other acquired intangible assets	28,995	29,777	30,865
Total operating expenses	529,094	485,274	544,335
Operating income (loss)	46,843	57,422	(1,973)
Other income (expense), net:
Interest income	233	1,461	2,111
Interest expense	(10,325)	(39,803)	(40,314)
Losses on early retirements of debt	(2,474)	(143)	0
Other income (expense), net	5,227	(60,601)	609
Total other expense, net	(7,339)	(99,086)	(37,594)
Income (loss) from continuing operations before provision for income taxes	39,504	(41,664)	(39,567)
Provision for income taxes	23,853	6,937	6,943
Net income (loss) from continuing operations	15,651	(48,601)	(46,510)
Net income from discontinued operations	0	48,494	82,193
Net income (loss)	15,651	(107)	35,683
Net income (loss) attributable to Verint Systems Inc.	14,413	(7,267)	28,684
Dividends on preferred stock	(18,922)	(7,656)	0
Net (loss) income attributable to Verint Systems Inc. common shares	(4,509)	(14,923)	28,684
Net (loss) income attributable to Verint Systems Inc. common shares:
Net loss from continuing operations attributable to Verint Systems Inc. common shares	(4,509)	(57,310)	(47,089)
Net income from discontinued operations attributable to Verint Systems Inc. common shares	$ 0	$ 42,387	$ 75,773
Basic net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations (in dollars per share)	$ (0.07)	$ (0.88)	$ (0.71)
Discontinued operations (in dollars per share)	0	0.65	1.14
Total basic net (loss) income per common share attributable to Verint Systems Inc. (in dollars per share)	(0.07)	(0.23)	0.43
Diluted net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations (in dollars per share)	(0.07)	(0.88)	(0.71)
Discontinued operations (in dollars per share)	0	0.65	1.14
Total diluted net (loss) income per common share attributable to Verint Systems Inc. (in dollars per share)	$ (0.07)	$ (0.23)	$ 0.43
Weighted-average common shares outstanding:
Basic (in shares)	65,591	65,173	66,129
Diluted (in shares)	65,591	65,173	66,129
Continuing Operations
Other income (expense), net:
Net income attributable to noncontrolling interests	$ 1,238	$ 1,053	$ 579
Discontinued Operations
Other income (expense), net:
Net income attributable to noncontrolling interests	0	6,107	6,420
Recurring
Revenue:
Revenue	633,129	575,624	534,378
Cost of revenue:
Cost of revenue	156,569	139,044	132,789
Nonrecurring
Revenue:
Revenue	241,380	254,623	312,147
Cost of revenue:
Cost of revenue	$ 124,226	$ 130,545	$ 149,795

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 15,651	$ (107)	$ 35,683
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments	(11,668)	17,794	(772)
Distribution of Cognyte Software Ltd.	17,123	0	0
Net (decrease) increase from foreign exchange contracts designated as hedges	(147)	37	1,786
Net increase (decrease) from interest rate swap designated as a hedge	1,014	(3,168)	(9,473)
Net increase from settlement of interest rate swap due to partial early retirement of 2017 Term Loan	12,017	0	0
Benefit from income taxes on net increase from foreign exchange contracts and interest rate swap designated as hedges	24	636	1,809
Other comprehensive income (loss)	18,363	15,299	(6,650)
Comprehensive income	34,014	15,192	29,033
Comprehensive income attributable to noncontrolling interests	1,238	7,472	6,989
Comprehensive income attributable to Verint Systems Inc.	$ 32,776	$ 7,720	$ 22,044

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Verint Systems Inc. Stockholders’ Equity	Total Verint Systems Inc. Stockholders’ Equity Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Non-controlling Interests
Balances (in shares) at Jan. 31, 2019					65,333,000
Balances at Jan. 31, 2019	$ 1,260,804		$ 1,249,236		$ 67	$ 1,586,266		$ (57,598)	$ (134,274)		$ (145,225)	$ 11,568
Increase (Decrease) in Stockholders' Equity
Net income (loss)	35,683		28,684						28,684			6,999
Other comprehensive (loss) income	(6,650)		(6,640)								(6,640)	(10)
Stock-based compensation — equity-classified awards	65,080		65,080			65,080
Common stock issued for stock awards and stock bonuses (in shares)					1,531,000
Common stock issued for stock awards and stock bonuses	9,544		9,544		$ 1	9,543
Treasury stock acquired (in shares)					(2,126,000)
Treasury stock acquired	(116,536)		(116,536)					(116,536)
Dividends or distribution to noncontrolling interests	$ (5,488)											(5,488)
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201613Member
Balances (in shares) at Jan. 31, 2020					64,738,000
Balances at Jan. 31, 2020	$ 1,242,437	$ (940)	1,229,368	$ (940)	$ 68	1,660,889		(174,134)	(105,590)	$ (940)	(151,865)	13,069
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(107)		(7,267)						(7,267)			7,160
Other comprehensive (loss) income	15,299		14,987								14,987	312
Stock-based compensation — equity-classified awards	63,005		63,005			63,005
Common stock issued for stock awards and stock bonuses (in shares)					1,646,000
Common stock issued for stock awards and stock bonuses	14,110		14,110		$ 2	14,108
Exercises of stock options (in shares)					2,000
Exercises of stock options	$ 12		12			12
Treasury stock acquired (in shares)	(613,000)				(613,000)
Treasury stock acquired	$ (33,990)		(33,990)					(33,990)
Dividends or distribution to noncontrolling interests	(5,414)											(5,414)
Preferred stock dividends	(6,789)		(6,789)			(6,789)
Reacquisition of equity component from convertible notes repurchases, net of taxes	(218)		(218)			(218)
Temporary equity reclassification	$ (4,841)		(4,841)			(4,841)
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate202006Member
Balances (in shares) at Jan. 31, 2021					65,773,000
Balances at Jan. 31, 2021	$ 1,282,564	$ 1,430	1,267,437	$ 1,430	$ 70	1,726,166	$ (43,445)	(208,124)	(113,797)	$ 44,875	(136,878)	15,127
Increase (Decrease) in Stockholders' Equity
Net income (loss)	15,651		14,413						14,413			1,238
Other comprehensive (loss) income	18,363										18,363
Stock-based compensation — equity-classified awards	58,679		58,679			58,679
Common stock issued for stock awards and stock bonuses (in shares)					1,800,000
Common stock issued for stock awards and stock bonuses	0				$ 2	(2)
Treasury stock acquired (in shares)					(555,000)
Treasury stock acquired	(26,375)		(26,375)					(26,375)
Dividends or distribution to noncontrolling interests	(1,110)											(1,110)
Preferred stock dividends	(18,056)		(18,056)			(18,056)
Other comprehensive income, excluding the distribution of Cognyte Software Ltd.	1,240		1,240								1,240
Distribution of Cognyte Software Ltd.	$ (277,412)		(264,542)			(281,665)					17,123	(12,870)
Common stock repurchased and retired (in shares)	(5,000,786)				(1,058,000)
Common stock repurchased and retired	$ (49,581)		(49,581)		$ (1)	(49,580)
Settlement of conversion premium upon maturity of 2014 Notes (in shares)					1,250,000
Settlement of conversion premium upon maturity of 2014 Notes	(8)		(8)			(59,139)		59,131
Common stock received from exercise of Note Hedges (in shares)					(1,250,000)
Common stock received from exercise of Note Hedges	3		3			57,695		(57,692)
Common stock received from exercise of Note Hedges related to repurchased 2014 Notes (in shares)					(42,000)
Common stock received from exercise of Note Hedges related to repurchased 2014 Notes	0					1,959		(1,959)
Common stock issued upon settlement of Warrants (in shares)					293,000
Common stock issued upon settlement of Warrants	(5)		(5)			(25)		20
Purchases of capped calls, net of taxes	(32,441)		(32,441)			(32,441)
Treasury stock retired	0				$ (5)	(234,994)		234,999
Balances (in shares) at Jan. 31, 2022					66,211,000
Balances at Jan. 31, 2022	$ 954,579		$ 952,194		$ 66	$ 1,125,152		$ 0	$ (54,509)		$ (118,515)	$ 2,385

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 15,651	$ (107)	$ 35,683
(Income) from discontinued operations, net of income taxes	0	(48,494)	(82,193)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:
Depreciation and amortization	75,449	85,380	80,847
Provision for credit losses	1,396	1,959	1,211
Stock-based compensation, excluding cash-settled awards	65,246	45,208	64,802
Change in fair value of future tranche right	(15,810)	56,146	0
Amortization of discount on convertible notes	0	12,883	12,490
Benefit from deferred income taxes	(11,323)	(1,398)	(4,284)
Non-cash losses (gains) on derivative financial instruments, net	14,374	1,267	(204)
Losses on early retirements of debt	2,474	143	0
Other non-cash items, net	7,416	(1,804)	8,307
Changes in operating assets and liabilities, net of effects of business combinations and divestitures:
Accounts receivable	11,712	(3,896)	16,284
Contract assets	(6,391)	(63)	(19,128)
Inventories	(713)	599	(502)
Prepaid expenses and other assets	(33,107)	(28,166)	2,356
Accounts payable and accrued expenses	(1,772)	33,380	(17,197)
Contract liabilities	7,820	5,438	18,042
Other liabilities	(2,321)	534	6,754
Other, net	4,553	644	3,730
Net cash provided by operating activities — continuing operations	134,654	159,653	126,998
Net cash (used in) provided by operating activities — discontinued operations	(9,055)	94,193	110,906
Net cash provided by operating activities	125,599	253,846	237,904
Cash flows from investing activities:
Cash paid for business combinations, including adjustments, net of cash acquired	(57,024)	0	(55,403)
Purchases of property and equipment	(16,962)	(14,035)	(21,339)
Purchases of investments	(751)	(102,531)	(18,308)
Maturities and sales of investments	46,299	69,763	5,797
Settlements of derivative financial instruments not designated as hedges	(69)	(54)	2,881
Cash paid for capitalized software development costs	(7,560)	(7,312)	(9,583)
Change in restricted bank time deposits, including long-term portion	107	154	(56)
Other investing activities	60	0	(250)
Net cash used in investing activities — continuing operations	(35,900)	(54,015)	(96,261)
Net cash provided by (used in) investing activities — discontinued operations	0	16,772	(29,540)
Net cash used in investing activities	(35,900)	(37,243)	(125,801)
Cash flows from financing activities:
Proceeds from issuance of preferred stock and future tranche right, net of issuance costs	198,731	197,254	0
Proceeds from borrowings	315,000	155,000	45,000
Repayments of borrowings and other financing obligations	(313,354)	(207,165)	(6,478)
Payments to repurchase convertible notes	0	(13,032)	0
Settlement of 2014 Notes	(386,887)	0	0
Purchases of capped calls	(41,060)	0	0
Payments of equity issuance, debt issuance, and other debt-related costs	(10,708)	(2,287)	(212)
Distributions paid to noncontrolling interest	(1,110)	(5,414)	(5,488)
Purchases of treasury stock and common stock for retirement	(75,955)	(36,836)	(113,690)
Preferred stock dividend payments	(12,856)	(1,589)	0
Payment for termination of interest rate swap	(16,502)	0	0
Net cash transferred to Cognyte Software Ltd.	(114,657)	0	0
Dividend and other settlements received from Cognyte Software Ltd.	38,280	0	0
Payments of deferred purchase price and contingent consideration for business combinations (financing portion) and other financing activities	(9,045)	(9,121)	(27,035)
Net cash (used in) provided by financing activities — continuing operations	(430,123)	76,810	(107,903)
Net cash used in financing activities — discontinued operations	0	(4,877)	(3,419)
Net cash (used in) provided by financing activities	(430,123)	71,933	(111,322)
Foreign currency effects on cash, cash equivalents, restricted cash, and restricted cash equivalents	(841)	(60)	(1,823)
Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	(341,265)	288,476	(1,042)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year	700,133	411,657	412,699
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year	358,868	700,133	411,657
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents at end of year to the consolidated balance sheets:
Cash and cash equivalents	358,805	663,843	379,146
Restricted cash and cash equivalents included in restricted cash and cash equivalents, and restricted bank time deposits	6	25,910	24,513
Restricted cash and cash equivalents included in other assets	57	10,380	7,998
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$ 358,868	$ 700,133	$ 411,657

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 31, 2022

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

Unless the context otherwise requires, the terms “Verint”, “we”, “us”, and “our” in these notes to consolidated financial statements refer to Verint Systems Inc. and its consolidated subsidiaries.

Verint helps brands provide Boundless Customer Engagement™. For more than two decades, the world’s most iconic brands – including more than 85 of the Fortune 100 companies – have trusted Verint to provide the technology and domain expertise they require to effectively build enduring customer relationships. Through the Verint Customer Engagement Cloud Platform, we offer our customers and partners solutions that are based on artificial intelligence (“AI”) and are developed specifically for customer engagement. These solutions automate workflows across enterprise silos to optimize the workforce expense and at the same time drive an elevated consumer experience. These solutions are used by approximately 10,000 organizations in over 175 countries across a diverse set of verticals, including financial services, healthcare, utilities, technology, and government. Our customers include large enterprises with thousands of employees, as well as small to medium sized business (“SMB”) organizations.

Verint is headquartered in Melville, New York, and has more than 30 offices worldwide. We have approximately 4,400 passionate professionals around the globe exclusively focused on helping brands provide Boundless Customer Engagement™.

Recent Developments

Spin-Off of Cognyte Software Ltd.

On February 1, 2021, we completed the previously announced spin-off (“the Spin-Off”) of Cognyte Software Ltd. (“Cognyte”), a company limited by shares incorporated by laws of the State of Israel whose business and operations consist of our former Cyber Intelligence Solutions business (the “Cognyte Business”). The Spin-Off of Cognyte was completed by way of a pro rata distribution in which holders of Verint’s common stock, par value $0.001 per share, received one ordinary share of Cognyte, no par value, for every share of common stock of Verint held of record as of the close of business on January 25, 2021. After the distribution, we do not beneficially own any ordinary shares of Cognyte and no longer consolidate Cognyte into our financial results for periods ending after January 31, 2021. The Spin-Off was intended to be generally tax-free to our stockholders for U.S. federal income tax purposes.

The financial results of Cognyte for the years ended January 31, 2021 and 2020 are presented as income from discontinued operations, net of taxes on the consolidated statements of operations and its assets and liabilities as of January 31, 2021 are presented as assets and liabilities of discontinued operations on the consolidated balance sheets. The historical consolidated statement of cash flows has also been revised to reflect the effect of the Spin-Off. The historical statements of comprehensive income (loss) and the balances related to stockholders’ equity have not been revised to reflect the effect of the Spin-Off. For further information on discontinued operations, see Note 2, “Discontinued Operations”. Unless noted otherwise, discussion in the notes to the consolidated financial statements pertain to continuing operations.

Apax Convertible Preferred Stock Investment

On December 4, 2019, we announced that an affiliate (the “Apax Investor”) of Apax Partners (“Apax”) would make an investment in us in an amount of up to $400.0 million. Under the terms of the Investment Agreement, dated as of December 4, 2019 (the “Investment Agreement”), the Apax Investor purchased $200.0 million of our Series A convertible preferred stock (“Series A Preferred Stock”) in an issuance that closed on May 7, 2020. In connection with the completion of the Spin-Off, the Apax Investor purchased $200.0 million of Series B convertible preferred stock (“Series B Preferred Stock” and together with the Series A Preferred Stock, the “Preferred Stock”) in an issuance that closed on April 6, 2021. As of January 31, 2022, Apax’s ownership in us on an as-converted basis was approximately 12.9%. Please refer to Note 10, “Convertible Preferred Stock” for a more detailed discussion of the Apax investment.

Impact of COVID-19 Pandemic

On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. The pandemic has caused significant economic disruption and uncertainty, and governmental authorities around the world have implemented numerous measures attempting to contain and mitigate the effects of the virus, including travel bans and restrictions, border closings, quarantines, shelter-in-place orders, shutdowns, limitations or closures of non-essential businesses, and social distancing requirements. Our customers, partners, and vendors have also implemented actions in response to the pandemic, including among others, office closings, site restrictions, and employee travel restrictions. In response to these challenges, we established remote working arrangements for our employees, limited non-essential business travel, and canceled or shifted our customer, employee, and industry events to a virtual-only format. As the pandemic has evolved, we have adapted our pandemic response on a localized basis based on the prevailing conditions in each country in which we and our customers, partners, or vendors operate.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Verint Systems Inc., and our wholly owned or otherwise controlled subsidiaries. Noncontrolling interests in less than wholly owned subsidiaries are reflected within stockholders’ equity on our consolidated balance sheet, but separately from our stockholders’ equity. On January 31, 2022, we exercised the option to acquire the noncontrolling interests in two majority owned subsidiaries. Prior to the exercise, we accounted for the option as an in-substance investment in the noncontrolling common stock of each such subsidiary. We included the fair value of the option within accrued expenses and other current liabilities and did not recognize noncontrolling interests in these subsidiaries.

Equity investments in companies in which we have less than a 20% ownership interest and cannot exercise significant influence, and which do not have readily determinable fair values, are accounted for at cost, adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer, less any impairment.

We include the results of operations of acquired companies from the date of acquisition. All significant intercompany transactions and balances are eliminated.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires our management to make estimates and assumptions, which may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

In light of the currently unknown extent and duration of the COVID-19 pandemic, we face a greater degree of uncertainty than normal in making the judgments and estimates needed to apply to certain of our significant accounting policies. We assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to us and the unknown future impacts of COVID-19 as of January 31, 2022 and through the date of this report. These estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.

Reclassifications

Following the Spin-Off, we began to operate as a pure-play customer engagement company and determined that presenting our revenue and cost of revenue as recurring and nonrecurring would be a more meaningful representation of the nature of our offerings, provide greater transparency and clarity to users of the financial statements, and is more consistent with industry practice and internal reporting. Accordingly, prior period amounts have been reclassified to conform to the current period presentation in our consolidated financial statements and the accompanying notes. For a description of the types of revenue included in each category, see Note 3, “Revenue Recognition”.

Restricted Cash and Cash Equivalents, and Restricted Bank Time Deposits

Restricted cash and cash equivalents, and restricted bank time deposits are pledged as collateral or otherwise restricted as to use for vendor payables, general liability insurance, workers’ compensation insurance, warranty programs, and other obligations.

Investments

Our investments generally consist of bank time deposits, and marketable debt securities of corporations, the U.S. government, and agencies of the U.S. government, all with remaining maturities in excess of 90 days at the time of purchase. We held no marketable debt securities at January 31, 2022 and 2021. Investments with maturities in excess of one year are included in other assets.

Accounts Receivable, Net

Trade accounts receivable are comprised of invoiced amounts due from customers for which we have an unconditional right to collect and are not interest-bearing. Credit is extended to customers based on an evaluation of their financial condition and other factors. We generally do not require collateral or other security to support accounts receivable.

Concentrations of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents, bank time deposits, short-term investments, trade accounts receivable, and contract assets. We invest our cash in bank accounts, certificates of deposit, and money market accounts with major financial institutions, in U.S. government and agency obligations, and in debt securities of corporations. By policy, we seek to limit credit exposure on investments through diversification and by restricting our investments to highly rated securities.

We grant credit terms to our customers in the ordinary course of business. Concentrations of credit risk with respect to trade accounts receivable and contract assets are generally limited due to the large number of customers comprising our customer base and their dispersion across different industries and geographic areas. There was one customer, an authorized global reseller of our solutions, that accounted for approximately 14% of our aggregated accounts receivable and contract assets at January 31, 2022 and 2021, and approximately 10% of our total revenue for the year ended January 31, 2021, but did not represent 10% or greater of our total revenue for the years ended January 31, 2022 or 2020. Credit losses relating to this reseller have historically been immaterial. No end-customer represented more than 10% of our revenue during the years ended January 31, 2022, 2021, and 2020.

Allowance for Credit Losses

We adopted Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments on February 1, 2020. ASU No. 2016-13 requires us to make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables over the lifetime of the receivables. Our allowance for expected credit losses is estimated based on an analysis of the aging of our accounts receivable and contract assets, historical write-offs, customer payment patterns, individual customer creditworthiness, current economic trends, reasonable and supportable forecasts of future economic conditions, and/or establishment of specific reserves for customers in adverse financial condition. We write-off an account receivable and charge it against its recorded allowance at the point when it is considered uncollectible. We assess the adequacy of the allowance for credit losses on a quarterly basis.

The following table summarizes the activity in our allowance for credit losses for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Allowance for credit losses, beginning of year	$	1,609	$	1,239	$	866
Cumulative effect of adoption of ASU No. 2016-13	—		577		—
Provisions charged to expense	1,242		1,899		1,211
Amounts written off	(1,666)		(1,931)		(1,024)
Other, including fluctuations in foreign exchange rates	75		(175)		186
Allowance for credit losses, end of year	$	1,260	$	1,609	$	1,239

Our estimated expected credit losses associated with contract assets were not material as historical write-offs have been insignificant.

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the weighted-average method of inventory accounting. The valuation of our inventories requires us to make estimates regarding excess or obsolete inventories,

including making estimates of the future demand for our products. Although we make every effort to ensure the accuracy of our forecasts of future product demand, any significant unanticipated changes in demand, price, or technological developments could have a significant impact on the value of our inventory and reported operating results. Charges for excess and obsolete inventories are included within cost of revenue.

Property and Equipment, net

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed using the straight-line method based over the estimated useful lives of the assets. The vast majority of equipment, furniture and other is depreciated over periods ranging from three years to seven years. Software is typically depreciated over periods ranging from three years to four years. Buildings are depreciated over periods ranging from ten years to twenty-five years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease term. Finance leased assets are amortized over the related lease term.

The cost of maintenance and repairs of property and equipment is charged to operations as incurred. When assets are retired or disposed of, the cost and accumulated depreciation or amortization thereon are removed from the consolidated balance sheet and any resulting gain or loss is recognized in the consolidated statement of operations.

Business Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the enterprise’s chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance.

Prior to the Spin-Off, we conducted our business through two operating segments, which were also our two reportable segments—Customer Engagement and Cyber Intelligence. Upon completion of the Spin-Off, we are a pure-play customer engagement company that operates as a single reporting segment as our Chief Executive Officer, who is our CODM, reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.

Goodwill and Other Acquired Intangible Assets

For business combinations, the purchase prices are allocated to the tangible assets and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the remaining unallocated purchase prices recorded as goodwill.

We test goodwill for impairment at the reporting unit level, which can be an operating segment or one level below an operating segment, on an annual basis as of November 1, or more frequently if changes in facts and circumstances indicate that impairment in the value of goodwill may exist. Subsequent to the Spin-Off of Cognyte on February 1, 2021, we became a pure-play customer engagement company that operates as a single reporting unit.

In testing for goodwill impairment, we may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we elect to bypass a qualitative assessment, or if our qualitative assessment indicates that goodwill impairment is more likely than not, we perform quantitative impairment testing. If our quantitative testing determines that the carrying value of the reporting unit exceeds its fair value, goodwill impairment is recognized in an amount equal to that excess, limited to the total goodwill allocated to the reporting unit.

We utilize some or all of three primary approaches to assess the fair value of a reporting unit: (a) an income-based approach, using projected discounted cash flows, (b) a market-based approach, using valuation multiples of comparable companies, and (c) a transaction-based approach, using valuation multiples for recent acquisitions of similar businesses made in the marketplace. Our estimate of fair value of our reporting unit is based on a number of subjective factors, including: (a) appropriate consideration of valuation approaches (income approach, comparable public company approach, and comparable transaction approach), (b) estimates of future growth rates, (c) estimates of our future cost structure, (d) discount rates for our estimated cash flows, (e) selection of peer group companies for the comparable public company and the comparable market transaction approaches, (f) required levels of working capital, (g) assumed terminal value, and (h) time horizon of cash flow forecasts.

The valuation methodology to determine the fair value of the reporting units is sensitive to management's forecasts of future revenue, profitability and market conditions. In addition, the extent to which the COVID-19 pandemic may adversely impact our business depends on future developments, which are uncertain and unpredictable, depending upon the severity and duration

of the outbreak, and the effectiveness of actions taken globally to contain or mitigate its effects. Any resulting financial impact cannot be estimated reasonably at this time but may adversely affect our business and financial results. If there were an adverse change in facts and circumstances, then an impairment charge may be necessary in the future. Should the fair value of our reporting unit fall below its carrying amount because of reduced operating performance, market declines, changes in the discount rate, or other conditions, charges for impairment may be necessary. We monitor our reporting unit to determine if there is an indicator of potential impairment.

Acquired identifiable intangible assets include identifiable acquired technologies, customer relationships, trade names, distribution networks, non-competition agreements, sales backlog, and in-process research and development. We amortize the cost of finite-lived identifiable intangible assets over their estimated useful lives, which are periods of 10 years or less. Amortization is based on the pattern in which the economic benefits of the intangible asset are expected to be realized, which typically is on a straight-line basis. The fair values assigned to identifiable intangible assets acquired in business combinations are determined primarily by using the income approach, which discounts expected future cash flows attributable to these assets to present value using estimates and assumptions determined by management. The acquired identifiable finite-lived intangible assets are being amortized primarily on a straight-line basis, which we believe approximates the pattern in which the assets are utilized, over their estimated useful lives.

Fair Value Measurements

Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. An instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This fair value hierarchy consists of three levels of inputs that may be used to measure fair value:

•Level 1: quoted prices in active markets for identical assets or liabilities;

•Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or

•Level 3: unobservable inputs that are supported by little or no market activity.

We review the fair value hierarchy classification of our applicable assets and liabilities at each reporting period. Changes in the observability of valuation inputs may result in transfers within the fair value measurement hierarchy. Please refer to Note 14, “Fair Value Measurements”, for further discussion regarding transfers between levels of the fair value measurement hierarchy.

Fair Values of Financial Instruments

Our recorded amounts of cash and cash equivalents, restricted cash and cash equivalents, and restricted bank time deposits, accounts receivable, contract assets, investments, and accounts payable approximate fair value, due to the short-term nature of these instruments. We measure certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.

Derivative Financial Instruments

As part of our risk management strategy, when considered appropriate, we use derivative financial instruments including foreign currency forward contracts and interest rate swap agreements to hedge against certain foreign currency and interest rate exposures. Our intent is to mitigate gains and losses caused by the underlying exposures with offsetting gains and losses on the derivative contracts. By policy, we do not enter into speculative positions with derivative instruments.

We record all derivatives as assets or liabilities on our consolidated balance sheets at their fair values. Gains and losses from the changes in values of these derivatives are accounted for based on the use of the derivative and whether it qualifies for hedge accounting.

The counterparties to our derivative financial instruments consist of several major international financial institutions. We regularly monitor the financial strength of these institutions. While the counterparties to these contracts expose us to credit-related losses in the event of a counterparty’s non-performance, the risk would be limited to the unrealized gains on such

affected contracts. We do not anticipate any such losses and we do not have a material portfolio of derivative financial instruments.

Revenue Recognition

We account for revenue in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was adopted on February 1, 2018, using the modified retrospective transition method. For further discussion of our accounting policies related to revenue see Note 3, “Revenue Recognition.”

Cost of Revenue

Our cost of revenue includes costs of materials, compensation and benefit costs for operations and service personnel, subcontractor costs, royalties and license fees related to third-party software included in our products, cloud infrastructure costs, depreciation of equipment used in operations and service, amortization of capitalized software development costs and certain purchased intangible assets, and related overhead costs. Costs that relate to satisfied (or partially satisfied) performance obligations in customer contracts (i.e. costs that relate to past performance) are expensed as incurred. Please refer to Note 3, “Revenue Recognition” under the heading “Costs to Obtain and Fulfill Contracts” for further details regarding customer contract costs.

Research and Development, net

With the exception of certain software development costs, all research and development costs are expensed as incurred, and consist primarily of personnel and consulting costs, travel, depreciation of research and development equipment, and related overhead and other costs associated with research and development activities.

We periodically derive benefits from participation in government-sponsored programs in certain jurisdictions, for the support of research and development activities conducted in those locations.

Software Development Costs

Costs incurred to acquire or develop software to be sold, leased or otherwise marketed are capitalized after technological feasibility is established, and continue to be capitalized through the general release of the related software product. Amortization of capitalized costs begins in the period in which the related product is available for general release to customers and is recorded on a straight-line basis, which approximates the pattern in which the economic benefits of the capitalized costs are expected to be realized, over the estimated economic lives of the related software products, generally five years.

Internal-Use Software Development Costs and Cloud Computing Arrangements

We expense costs associated with the assessment stage of software development projects. Capitalization begins when the preliminary project stage has been completed and management with the relevant authority authorizes and commits to the funding of the project. These capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees who are directly associated with the development of the applications. We expense the personnel-related costs of training and data conversion. We also expense costs associated with the post-implementation and operation stage, including maintenance and specified upgrades; however, we capitalize internal and external costs associated with significant upgrades to existing systems that result in additional functionality. Cloud computing arrangement costs follow the internal-use software accounting guidance to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized internal-use software development costs are generally amortized over periods ranging from four years to seven years on a straight-line basis, which best represents the pattern of the software’s use. Capitalized implementation costs related to a service contract will be amortized over the term of the hosting arrangement beginning when the component of the hosting arrangement is ready for its intended use. Periodically, we reassess the useful life considering technology, obsolescence, and other factors.

Income Taxes

We account for income taxes under the asset and liability method which includes the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our consolidated financial statements. Under this approach, deferred taxes are recorded for the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year plus deferred taxes. Deferred taxes result from differences between the financial statement and tax bases of our

assets and liabilities, and are adjusted for changes in tax rates and tax laws when changes are enacted. The effects of future changes in income tax laws or rates are not anticipated.

We are subject to income taxes in the United States and numerous foreign jurisdictions. The calculation of our income tax provision involves the application of complex tax laws and requires significant judgment and estimates.

We evaluate the realizability of our deferred tax assets for each jurisdiction in which we operate at each reporting date, and establish valuation allowances when it is more likely than not that all or a portion of our deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income of the same character and in the same jurisdiction. We consider all available positive and negative evidence in making this assessment, including, but not limited to, the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies. In circumstances where there is sufficient negative evidence indicating that our deferred tax assets are not more-likely-than-not realizable, we establish a valuation allowance.

We use a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more-likely-than-not sustainable, based solely on their technical merits, upon examination and including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position as the largest amount that we believe is more-likely-than-not realizable. Differences between the amount of tax benefits taken or expected to be taken in our income tax returns and the amount of tax benefits recognized in our financial statements represent our unrecognized income tax benefits, which we either record as a liability or as a reduction of deferred tax assets. Our policy is to include interest (expense and/or income) and penalties related to unrecognized income tax benefits as a component of the provision for income taxes.

Functional Currencies and Foreign Currency Transaction Gains and Losses

The functional currency for most of our foreign subsidiaries is the applicable local currency, although we have some subsidiaries with functional currencies that differ from their local currency, of which the most notable exception is our subsidiary in Israel, whose functional currency is the U.S. dollar.

Transactions denominated in currencies other than a functional currency are converted to the functional currency on the transaction date, and any resulting assets or liabilities are further remeasured at each reporting date and at settlement. Gains and losses recognized upon such remeasurements are included within other income (expense), net in the consolidated statements of operations. We recorded net foreign currency losses of $1.6 million for each of the years ended January 31, 2022 and 2021, and net foreign currency gains of $0.7 million for the year ended January 31, 2020.

For consolidated reporting purposes, in those instances where a foreign subsidiary has a functional currency other than the U.S. dollar, revenue and expenses are translated into U.S. dollars using average exchange rates for the reporting period, while assets and liabilities are translated into U.S. dollars using period-end rates. The effects of foreign currency translation adjustments are included in stockholders’ equity as a component of accumulated other comprehensive loss in the accompanying consolidated balance sheets.

Stock-Based Compensation

We recognize the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award. We recognize the fair value of the award as compensation expense over the period during which an employee is required to provide service in exchange for the award.

For performance stock units for which vesting is in part dependent on total shareholder return, the fair value of the award is estimated on the date of grant using a Monte Carlo Simulation. Expected volatility and expected term are input factors for that model and may require significant management judgment. Expected volatility is estimated utilizing daily historical volatility for Verint common stock price and the constituents of the specific comparator index over a period commensurate with the remaining award performance period. The risk-free interest rate used is equal to the implied daily yield of the zero-coupon U.S. Treasury bill that corresponds with the remaining performance period of the award as of the valuation date.

Net Income (Loss) Per Common Share Attributable to Verint Systems Inc.

Basis net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders by the weighted-average common stock outstanding during the respective period. Net income (loss) attributable to common shareholders is computed by deducting both the dividends declared in the period on the Preferred Stock and the dividends

accumulated for the period on the Preferred Stock from net income (loss). Shares used in the calculation of basic net income (loss) per common share include vested but unissued shares underlying awards of restricted stock units when all necessary conditions for earning those shares have been satisfied at the award’s vesting date, but exclude unvested shares of restricted stock because they are contingent upon future service conditions.

Diluted net income per common share is computed by dividing net income attributable to common and common equivalent shareholders by the total of the weighted-average common stock outstanding and common equivalent shares outstanding during the respective period. The number of common equivalent shares outstanding has been determined in accordance with the if-converted method for the Preferred Stock and the treasury stock method for employee stock options and restricted stock units to the extend they are dilutive. Under the treasury stock method, the exercise price paid by the option holder and future share-based compensation expense that we have not yet recognized are assumed to be used to repurchase shares.

Upon conversion of our 0.25% convertible senior notes due April 15, 2026 (the “2021 Notes”), further details for which appear in Note 8, “Long-Term Debt,” we are currently obligated to settle the principal amount of the 2021 Notes in cash upon conversion and as a result, only the amounts payable in excess of the principal amounts of the 2021 Notes, if any, are assumed to be settled with shares of common stock for purposes of computing diluted net income per share.

In periods for which we report a net loss, basic net loss per common share and diluted net loss per common share are identical since the effect of potential common shares is anti-dilutive and therefore excluded.

Leases

We determine if an arrangement is a lease at inception. Operating lease assets are presented as operating lease right-of-use (“ROU”) assets, and corresponding operating lease liabilities are presented within accrued expenses and other current liabilities (current portions), and as operating lease liabilities (long-term portions), on our consolidated balance sheets. Finance lease assets are included in property and equipment, and corresponding finance lease liabilities are included within accrued expenses and other current liabilities (current portions), and other liabilities (long-term portions), on our consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the remaining lease payments over the lease term at commencement date. Our leases do not provide an implicit interest rate. We calculate the incremental borrowing rate to reflect the interest rate that we would have to pay to borrow on a collateralized basis an amount equal to the lease payments in a similar economic environment over a similar term, and consider our historical borrowing activities and market data in this determination. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components, which we account for as a single lease component. Some of our leases contain variable lease payments, which are expensed as incurred unless those payments are based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement and included in the measurement of the lease liability; thereafter, changes to lease payments due to rate or index updates are recorded as rent expense in the period incurred. We have elected not to recognize ROU assets and lease liabilities for short-term leases that have a term of twelve months or less. The effect of short-term leases on our ROU assets and lease liabilities was not material. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. In addition, our related party leases and our sublease transactions are de minimis.

Recent Accounting Pronouncements

New Accounting Pronouncements Recently Adopted

In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which affects general principles within Topic 740, Income Taxes. The new guidance simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the tax basis of goodwill after a business combination, and the recognition of deferred tax liabilities for outside basis differences. The new guidance also changes the calculation of the income tax impact of hybrid taxes and the methodology for calculating income taxes in an interim period. We adopted this standard as of February 1, 2021 on either a prospective basis, or through a modified retrospective approach, as required by the standard. There was no cumulative effect adjustment recorded to accumulated deficit as the amount was not material. The effects of this standard on our financial position, results of operations and cash flows were not material.

In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, ASU No. 2020-06 removes from GAAP the liability and equity separation model for convertible instruments with a cash conversion feature, and as a result, after adoption, entities will no longer separately present in equity an embedded conversion feature for such debt. ASU No. 2020-06 also eliminates the treasury stock method to calculate diluted earnings per share and requires the if-converted method for convertible instruments. We early adopted ASU No. 2020-06 as of February 1, 2021 using the modified retrospective transition method. Prior period financial statements have not been restated upon adoption.

Upon adoption of ASU No. 2020-06, we no longer presented the conversion feature of our 1.50% convertible senior notes due June 1, 2021 (the “2014 Notes”), in equity. Instead, we combined the previously separated equity component with the liability component, which prior to maturity of the 2014 Notes, was classified as debt, thereby eliminating the subsequent amortization of the debt discount as interest expense. Similarly, the portion of issuance costs previously allocated to equity was reclassified to debt and amortized as interest expense until the 2014 Notes matured. Accordingly, we recorded a decrease to accumulated deficit of approximately $44.9 million, a decrease to additional paid-in capital of $43.4 million, a decrease to temporary equity of $4.8 million, an increase to current maturities of long-term debt of $4.4 million, a decrease to deferred tax liabilities of $0.9 million, and an increase in debt issuance costs of $0.1 million. There was no impact to earnings per share as a result of the adoption.

New Accounting Pronouncements Not Yet Effective

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU No. 2020-04 provides optional expedients and exceptions for applying GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. In January 2021, the FASB issued Update 2021-01, Reference Rate Reform (Topic 848): Scope. The update provides additional optional guidance on the transition from LIBOR to include derivative instruments that use an interest rate for margining, discounting or contract price alignment. The standard will ease, if warranted, the requirements for accounting for the future effects of the rate reform. An entity may elect to apply the amendments prospectively through December 31, 2022. A portion of our indebtedness bears interest at variable interest rates, primarily based on euro-dollar LIBOR. We continue to monitor the impact of the discontinuance of LIBOR or another reference rate will have on our contracts, hedging relationships and other transactions. We are currently assessing the impact of this standard on our financial condition and results of operations.

In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. We do not expect the adoption of ASU No. 2021-04 to have any impact on our consolidated financial statements as the effect will largely depend on the terms of written call options or financings issued or modified in the future.

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which will require companies to apply the definition of a performance obligation under ASC Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination. Under current GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. ASU No. 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.

DISCONTINUED OPERATIONS

12 Months Ended

Jan. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONSOn February 1, 2021 (the “Spin-Off Date”), we completed the previously announced Spin-Off of Cognyte by way of a pro rata distribution of all of the then-issued and outstanding ordinary shares of Cognyte to holders of record of our common stock as of the close of business on January 25, 2021.

To effect the Spin-Off and provide a framework for our relationship with Cognyte post Spin-Off we entered into several agreements with Cognyte, including the following:

•a Separation and Distribution Agreement;

•a Tax Matters Agreement;

•an Employee Matters Agreement;

•a Transition Services Agreement;

•an Intellectual Property Cross License Agreement; and

•a Trademark Cross License Agreement.

These agreements provide for the allocation of assets, employees, liabilities, and obligations (including property, employee benefits, litigation, and tax-related assets and liabilities) between us and Cognyte attributable to periods prior to, at and after the Spin-Off.

Under the Transition Services Agreement with Cognyte, we and Cognyte agreed to provide and/or make available various administrative services and assets to each other for a given period based on each individual service, with an option to extend certain services after the first year. In no case will services be provided for more than 24 months after the Spin-Off Date. In consideration for such services, we and Cognyte each paid fees to the other for the services provided, and those fees were generally in amounts intended to allow the party providing services to recover all of its direct and indirect costs incurred in providing those services, plus a standard markup, and subject to a mutually agreed-upon increase following an extension of the initial service term. The fees charged for the first year of services were fixed. Fees for services provided by third-party suppliers were billed on a straight pass-through basis. For the year ended January 31, 2022, we invoiced Cognyte $5.9 million, and Cognyte invoiced us $1.1 million, for transition services provided under the Transition Services Agreement. As of January 31, 2022, the performance of services under the Transition Services Agreement was substantially concluded.

Under the Tax Matters Agreement with Cognyte, we and Cognyte each agreed to share the obligation to pay any taxes as shown on tax returns filed by Cognyte (or any member of its group), on one hand, and us (or any member of our group), on the other hand, such that we will be primarily responsible for any taxes related to, or arising in connection with our business and Cognyte will be responsible for any taxes related to, or arising in connection with, the Cognyte Business, regardless of which party prepares and files any such tax return and whether such taxes arise prior to or after the Spin-Off. We and Cognyte also agreed to share responsibility for preparing relevant tax returns, which responsibility will depend on the type of tax return and the period for which such tax return is being filed. We and Cognyte agreed to indemnify each other under the Tax Matters Agreement for certain actions or inactions.

The Spin-Off met the criteria for classification as “discontinued operations” in accordance with the accounting guidance upon completion of the separation, and as such, the results of our former Cognyte Business have been classified as discontinued operations in our consolidated balance sheets, consolidated statements of operations and consolidated statements of cash flows for all periods presented. As of January 31, 2022, there were no assets or liabilities from discontinued operations associated with Cognyte. There was no revenue earned or costs and expenses incurred by discontinued operations during the year ended January 31, 2022.

The following table summarizes the major classes of line items included within discontinued operations in our consolidated statements of operations for the years ended January 31, 2021 and 2020:


	Year ended January 31,
(in thousands)	2021		2020
Revenue	$	443,458	$	457,109
Cost of revenue	128,043		159,603
Operating expenses	264,132		207,677
Other income, net	6,604		3,041
Income from discontinued operations before benefit from income taxes	57,887		92,870
Provision for income taxes	9,393		10,677
Net income from discontinued operations	48,494		82,193
Net income from discontinued operations attributable to noncontrolling interests	6,107		6,420
Net income from discontinued operations attributable to Verint Systems Inc. common shares	$	42,387	$	75,773

The following table summarizes the assets and liabilities that were transferred to Cognyte on February 1, 2021 and presented as discontinued operations in our consolidated balance sheet as of January 31, 2021:


(in thousands)	January 31, 2021
Assets
Current Assets:
Cash and cash equivalents	$	78,570
Restricted cash and cash equivalents, and restricted bank time deposits	27,042
Short-term investments	4,713
Accounts receivable, net	175,001
Contract assets, net	20,317
Inventories	14,542
Prepaid expenses and other current assets	34,741
Total current assets of discontinued operations	354,926
Property and equipment, net	37,152
Operating lease right-of-use assets	31,040
Goodwill	158,183
Intangible assets, net	5,299
Deferred income taxes	7,202
Other assets	42,076
Total long-term assets of discontinued operations	280,952
Total assets of discontinued operations	$	635,878

Liabilities
Current Liabilities:
Accounts payable	$	41,512
Accrued expenses and other current liabilities	100,189
Contract liabilities	127,012
Total current liabilities of discontinued operations	268,713
Long-term contract liabilities	22,037
Operating lease liabilities	23,174
Deferred income taxes	3,985
Other liabilities	8,922
Total long-term liabilities of discontinued operations	58,118
Total liabilities of discontinued operations	$	326,831

In connection with the Spin-Off, $17.1 million of accumulated other comprehensive income, net of income taxes, related to foreign currency translation adjustments and foreign exchange contracts designated as cash flow hedges were transferred to Cognyte on the Spin-Off Date. Additionally, Verint transferred its interests in Cognyte Technologies Israel Ltd. (formerly Verint Systems Limited) (“CTIL”) on the Spin-Off Date. Prior to the transfer, CTIL was a wholly owned subsidiary of Verint and the CTIL board of directors declared a cash dividend in the aggregate amount of $35.0 million payable to Verint, as its sole holder of record of ordinary shares, on January 29, 2021. In April 2021, we received the dividend from Cognyte less applicable withholding taxes. The $78.6 million of cash and cash equivalents shown in the table above does not reflect the payment of the dividend, which occurred after the completion of the Spin-Off.

REVENUE RECOGNITION

12 Months Ended

Jan. 31, 2022

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We recognize revenue through the application of the following five steps:

1) Identify the contract(s) with a customer

A contract with a customer exists when (i) we enter into an enforceable contract with the customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (ii) the contract has commercial substance, and (iii) we determine that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. We apply judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or in the case of a new customer, published credit and financial information pertaining to the customer. Our customary business practice is to enter into legally enforceable written contracts with our customers. The majority of our contracts are governed by a master agreement between us and the customer, which sets forth the general terms and conditions of any individual contract between the parties, which is then supplemented by a customer purchase order to specify the different goods and services, the associated prices, and any additional terms for an individual contract. Multiple contracts with a single counterparty entered into at the same time are evaluated to determine if the contracts should be combined and accounted for as a single contract.

2) Identify the performance obligations in the contract

Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, we must apply judgment to determine whether promised goods or services are capable of being distinct and are distinct in the context of the contract. If these criteria are not met the promised goods or services are accounted for as a combined performance obligation. Generally, our contracts do not include non-distinct goods or services.

3) Determine the transaction price

The transaction price is determined based on the consideration to which we will be entitled in exchange for transferring goods or services to the customer. We assess the timing of transfer of goods and services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is a year or less, which is the case in the majority of our customer contracts. The primary purpose of our invoicing terms is not to receive or provide financing from or to customers. To the extent the transaction price includes variable consideration, we estimate the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Variable consideration is included in the transaction price, if we assessed that it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Typically, our contracts do not provide our customers with any right of return or refund, and we do not constrain the contract price as it is probable that there will not be a significant revenue reversal due to a return or refund.

4) Allocate the transaction price to the performance obligations in the contract

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. However, if a series of distinct goods or services that are substantially the same qualifies as a single performance obligation in a contract with variable consideration, we must determine if the variable consideration is attributable to the entire contract or to a specific part of the contract. We allocate the variable amount to one or more distinct performance obligations but not all or to one or more distinct services that forms a part of a single performance obligation, when the payment terms of the variable amount relate solely to our efforts to satisfy that distinct performance obligation and it results in an allocation that is consistent with the overall allocation objective of ASU No. 2014-09. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis unless the transaction price is variable and meets the criteria to be allocated entirely to a performance obligation or to a distinct good or service that forms part of a single performance obligation. We determine standalone selling price (“SSP”) based on the price at which the performance obligation is sold separately. If the SSP is not observable through past transactions, we estimate the SSP taking into account available information such as market conditions, including geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and internally approved pricing guidelines related to the performance obligation.

5) Recognize revenue when (or as) the entity satisfies a performance obligation

We satisfy performance obligations either over time or at a point in time depending on the nature of the underlying promise. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or service to a customer. In the case of contracts that include customer acceptance criteria, revenue is not

recognized until we can objectively conclude that the product or service meets the agreed-upon specifications in the contract.

We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to our customers. Revenue is measured based on consideration specified in a contract with a customer, and excludes taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by us from a customer.

Shipping and handling activities that are billed to the customer and occur after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. Historically, these expenses have not been material.

Nature of Goods and Services

We derive and report our revenue in two categories: (a) recurring revenue, which includes bundled SaaS, unbundled SaaS, hosting services, optional managed services, initial and renewal support revenue, and product warranties, and (b) nonrecurring revenue, which primarily consists of perpetual licenses, hardware, installation services, and business advisory consulting and training services.

Our bundled SaaS contracts are typically comprised of a right to access our software, maintenance, hosting fees and standard managed services. We do not provide the customer with the contractual right to take possession of the software at any time during the hosting period under these contracts. The customer can only benefit from the SaaS license, maintenance and standard managed services when combined with the hosting service as the hosting service is the only way for the customer to access the software and benefit from the maintenance and managed services. Accordingly, each of the license, maintenance, hosting and standard managed services is not considered a distinct performance obligation in the context of the contract, and are combined into a single performance obligation (“bundled SaaS services”) and recognized ratably over the contract period. Our bundled SaaS customer contracts can consist of fixed, variable, and usage-based fees. Typically, we invoice fees at the outset of the contract, though quarterly or monthly billing terms are included in certain contracts. Certain bundled SaaS contracts include a nonrefundable upfront fee for setup services, which are not distinct from the bundled SaaS services. Non-distinct setup services represent an advanced payment for future bundled SaaS services, and are recognized as revenue when those bundled SaaS services are satisfied, unless the nonrefundable fee is considered to be a material right, in which case the nonrefundable fee is recognized over the expected benefit period, which includes anticipated renewals. We determine SSP for our bundled SaaS services based on the price at which the performance obligation is sold separately, which is observable through past renewal transactions. We satisfy our bundled SaaS services by providing access to our software over time and processing transactions for usage-based contracts. For non-usage based fees, the period of time over which we perform is commensurate with the contract term because that is the period during which we have an obligation to provide the service. The performance obligation is recognized on a time elapsed basis, by day for which the services are provided.

Our software licenses either provide our customers a perpetual right to use our software or, in the case of unbundled SaaS, the right to use our software for only a fixed term, in most cases between a one- and three-year time frame. Generally, our contracts do not provide significant services of integration and customization and installation services are not required to be purchased directly from us. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that the software license is distinct as the customer can benefit from the software on its own. Software revenue is typically recognized when the software is delivered or made available for download to the customer. We rarely sell our software licenses on a standalone basis and as a result SSP is not directly observable and must be estimated. We apply the adjusted market assessment approach, considering both market conditions and entity specific factors such as assessment of historical data of sales of software licenses in combination with other promised goods and services in order to maximize the use of observable inputs. Software SSP is established based on an appropriate discount from our established list price, taking into consideration whether there are certain stratifications of the population with different pricing practices. Revenue for hardware is recognized at a point in time, generally upon shipment or delivery.

Professional services revenues primarily consist of fees for deployment and optimization services, as well as training, and are generally recognized over time as the customer simultaneously receives and consumes the benefits of the professional services as the services are performed. Professional services that are billed on a time and materials basis are recognized over time as the services are performed. For contracts billed on a fixed price basis, revenue is recognized over time using an input method based on labor hours expended to date relative to the total labor hours expected to be required to satisfy the related performance obligation. We determine SSP for our professional services based on the price at which the performance obligation is sold separately, which is observable through past transactions.

Customer support revenue is derived from providing remote technical support services, bug fixes and unspecified software updates and upgrades to customers on a when-and-if-available basis. Each of these performance obligations provide benefit to the customer on a standalone basis and are distinct in the context of the contract. Each of these distinct performance obligations represent a stand ready obligation to provide service to a customer, which is concurrently delivered and has the same pattern of transfer to the customer, which is why we account for these support services as a single performance obligation. We recognize support services ratably over the contractual term, which typically is one year for perpetual licenses and one to three years for unbundled SaaS. SSP for support services is developed based on standalone renewal contracts.

Our solutions are generally sold with a warranty of one year to three years for hardware and 90 days for software. These warranties do not represent an additional performance obligation as services beyond assuring that the software license and hardware complies with agreed-upon specifications are not provided.

Disaggregation of Revenue

The following table provides a disaggregation of our recurring and nonrecurring revenue. Recurring revenue is the portion of our revenue that we believe is likely to be renewed in the future. The recurrence of these revenue streams in future periods depends on a number of factors including contractual periods and customers' renewal decisions.

•Recurring revenue primarily consists of:

◦Cloud revenue, which consists primarily of software as a service (“SaaS”) revenue and optional managed services revenue.

▪SaaS revenue consists predominately of bundled SaaS (software usage rights with standard managed services) and unbundled SaaS (software licensing rights accounted for as term-based licenses whereby customers have a license to our software with related support for a specific period).

▪Bundled SaaS revenue is recognized over time.

▪Unbundled SaaS revenue is recognized at a point in time, except for the related support which is recognized over time. Unbundled SaaS contracts are eligible for renewal after the initial fixed term, which in most cases is between a one- and three-year time frame. Unbundled SaaS can be deployed in the cloud either by us or a cloud partner.

◦Support revenue, which consists of initial and renewal support.

•Nonrecurring revenue primarily consists of our perpetual licenses, hardware, installation services, and business advisory consulting and training services.


	Year Ended January 31,
(in thousands)	2022		2021		2020
Recurring revenue
Bundled SaaS revenue	$	183,035	$	145,962	$	115,925
Unbundled SaaS revenue	139,729		71,990		48,018
Optional managed services revenue	65,648		59,459		56,534
Total cloud revenue	388,412		277,411		220,477
Support revenue	244,717		298,213		313,901
Total recurring revenue	633,129		575,624		534,378
Nonrecurring revenue
Perpetual revenue	138,078		141,840		179,882
Professional services revenue	103,302		112,783		132,265
Total nonrecurring revenue	241,380		254,623		312,147
Total revenue	$	874,509	$	830,247	$	846,525

Contract Balances

The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers:


	January 31,
(in thousands)	2022		2021
Accounts receivable, net	$	193,831	$	206,157
Contract assets, net	$	42,688	$	36,716
Long-term contract assets, net (included in other assets)	$	30,510	$	17,210
Contract liabilities	$	271,271	$	261,033
Long-term contract liabilities	$	15,872	$	16,502

We receive payments from customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets are rights to consideration in exchange for goods or services that we have transferred to a customer when that right is conditional on something other than the passage of time. The majority of our contract assets represent unbilled amounts related to multi-year unbundled SaaS contracts and arrangements where our right to consideration is subject to the contractually agreed upon billing schedule. We expect billing and collection of a majority of our contract assets to occur within the next twelve months and asset impairment charges related to contract assets were immaterial for each of the years ended January 31, 2022, 2021, and 2020. There was one customer, an authorized global reseller of our solutions, that accounted for approximately 14% of our aggregated accounts receivable and contract assets at January 31, 2022 and 2021. Credit losses relating to this reseller have historically been immaterial. During the years ended January 31, 2022 and 2021, we transferred $37.7 million and $26.6 million, respectively, to accounts receivable from contract assets recognized at the beginning of each period, as a result of the right to the transaction consideration becoming unconditional. We recognized $57.4 million and $43.7 million of contract assets during the years ended January 31, 2022 and 2021, respectively. Contract assets recognized during each year primarily related to multi-year unbundled SaaS contracts that are invoiced annually with license revenue recognized upfront.

Contract liabilities represent consideration received or consideration which is unconditionally due from customers prior to transferring goods or services to the customer under the terms of the contract. Revenue recognized during the years ended January 31, 2022 and 2021 from amounts included in contract liabilities at the beginning of each period was $247.9 million and $239.2 million, respectively.

Remaining Performance Obligations

Transaction price allocated to remaining performance obligations (“RPO”) represents contracted revenue that has not yet been recognized, which includes contract liabilities and non-cancelable amounts that will be invoiced and recognized as revenue in future periods. The majority of our arrangements are for periods of up to three years, with a significant portion being one year or less.

We elected to exclude amounts of variable consideration attributable to sales- or usage-based royalties in exchange for a license of our IP from the remaining performance obligations. The timing and amount of revenue recognition for our remaining

performance obligations is influenced by several factors, including seasonality, the timing of renewals, the timing of

delivery of software licenses, the average length of the contract terms, and foreign currency exchange rates.

The following table provides information about when we expect to recognize our remaining performance obligations:


	January 31,
(in thousands)	2022		2021
RPO:
Expected to be recognized within 1 year	$	447,428	$	405,714
Expected to be recognized in more than 1 year	274,404		229,951
Total RPO	$	721,832	$	635,665

Costs to Obtain and Fulfill Contracts

We capitalize commissions paid to internal sales personnel and agent commissions that are incremental to obtaining customer contracts. We have determined that these commissions are in fact incremental and would not have occurred absent the customer contract. Capitalized sales and agent commissions are amortized on a straight-line basis over the period the goods or services are transferred to the customer to which the assets relate, which ranges from immediate to as long as six years, if commission amounts paid upon renewal are not commensurate with amounts paid on the initial contract. A portion of the initial commission

payable on the majority of our contracts is amortized over the anticipated renewal period, which is generally four to six years, due to commissions paid on renewal contracts not being commensurate with amounts paid on the initial contract.

Total capitalized costs to obtain contracts were $55.8 million as of January 31, 2022, of which $3.9 million is included in prepaid expenses and other current assets and $51.9 million is included in other assets on our consolidated balance sheet. Total capitalized costs to obtain contracts were $48.4 million as of January 31, 2021, of which $2.0 million is included in prepaid expenses and other current assets and $46.4 million is included in other assets on our consolidated balance sheet. During the years ended January 31, 2022, 2021, and 2020, we expensed $33.1 million, $26.1 million and $26.2 million, respectively, of sales and agent commissions, which are included in selling, general and administrative expenses and there were no impairment losses recognized for these capitalized costs.

We capitalize costs incurred to fulfill our contracts when the costs relate directly to the contract and are expected to generate resources that will be used to satisfy the performance obligation under the contract and are expected to be recovered through revenue generated under the contract. Costs to fulfill contracts are expensed to cost of revenue as we satisfy the related performance obligations. Total capitalized costs to fulfill contracts were $6.1 million as of January 31, 2022, of which $0.2 million is included in prepaid expenses and other current assets and $5.9 million is included in other assets on our consolidated balance sheet. Total capitalized costs to fulfill contracts were $6.5 million as of January 31, 2021, of which $0.2 million is included in prepaid expenses and other current assets and $6.3 million is included in other assets on our consolidated balance sheet. Deferred cost of revenue is classified in its entirety as current or long-term based on whether the related revenue will be recognized within twelve months of the origination date of the arrangement. The amounts capitalized primarily relate to one-time costs incurred in the initial phase of our bundled SaaS arrangements (i.e., setup costs), which consist of costs related to the installation of systems and processes. Capitalized setup costs are amortized on a straight-line basis over the expected period of benefit, which includes anticipated contract renewals or extensions, consistent with the transfer to the customer of the services to which the asset relates. During the years ended January 31, 2022, 2021, and 2020, we amortized $3.2 million, $2.7 million, and $1.7 million, respectively, of contract fulfillment costs.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC.

12 Months Ended

Jan. 31, 2022

Earnings Per Share [Abstract]

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC.

The following table summarizes the calculation of basic and diluted net (loss) income per common share attributable to Verint Systems Inc. for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands, except per share amounts)	2022		2021		2020
Net income (loss) from continuing operations	$	15,651	$	(48,601)	$	(46,510)
Net income from discontinued operations	—		48,494		82,193
Net income (loss)	15,651		(107)		35,683
Net income attributable to noncontrolling interests from continuing operations	1,238		1,053		579
Net income attributable to noncontrolling interests from discontinued operations	—		6,107		6,420
Net income (loss) attributable to Verint Systems Inc.	14,413		(7,267)		28,684
Dividends on preferred stock	(18,922)		(7,656)		—
Net (loss) income attributable to Verint Systems Inc. for basic net (loss) income per common share	(4,509)		(14,923)		28,684
Dilutive effect of dividends on preferred stock	—		—		—
Net (loss) income attributable to Verint Systems Inc. for diluted net (loss) income per common share	$	(4,509)	$	(14,923)	$	28,684

Net (loss) income attributable to Verint Systems Inc. common shares
Net loss from continuing operations attributable to Verint Systems Inc. common shares	(4,509)		(57,310)		(47,089)
Net income from discontinued operations attributable to Verint Systems Inc. common shares	—		42,387		75,773

Weighted-average shares outstanding:
Basic	65,591		65,173		66,129
Dilutive effect of employee equity award plans	—		—		—


	Year Ended January 31,
(in thousands, except per share amounts)	2022		2021		2020
Dilutive effect of 2021 Notes	—		—		—
Dilutive effect of 2014 Notes	—		—		—
Dilutive effect of warrants	—		—		—
Dilutive effect of assumed conversion of preferred stock	—		—		—
Diluted	65,591		65,173		66,129

Basic net (loss) income per common share attributable to Verint Systems Inc.:
Continuing Operations	$	(0.07)	$	(0.88)	$	(0.71)
Discontinued Operations	—		0.65		1.14
Total basic net (loss) income per common share attributable to Verint Systems Inc.	$	(0.07)	$	(0.23)	$	0.43

Diluted net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations	$	(0.07)	$	(0.88)	$	(0.71)
Discontinued operations	—		0.65		1.14
Total diluted net (loss) income per common share attributable to Verint Systems Inc.	$	(0.07)	$	(0.23)	$	0.43

We excluded the following weighted-average potential common shares from the calculations of diluted net (loss) income per common share during the applicable periods because their inclusion would have been anti-dilutive:


	Year Ended January 31,
(in thousands)	2022	2021	2020
Common shares excluded from calculation:
Stock options and restricted stock-based awards	1,580	1,337	2,126
2014 Notes	481	6,002	6,205
Warrants	117	6,205	6,205
Series A Preferred Stock	5,498	2,743	—
Series B Preferred Stock	3,282	—	—

In periods for which we report a net loss attributable to Verint Systems Inc., basic net loss per common share and diluted net loss per common share are identical since the effect of all potential common shares is anti-dilutive and therefore excluded.

Upon our adoption of ASU No. 2020-06 on February 1, 2021, use of the if-converted method is required for calculating any potential dilutive effect of convertible instruments. For the year ended January 31, 2022, the average price of our common stock did not exceed the $62.08 per share conversion price of our 2021 Notes, and other requirements for the 2021 Notes to be convertible were not met. The 2021 Notes will have a dilutive impact on net income per common share at any time when the average market price of our common stock for a quarterly reporting period exceeds the conversion price.

The Capped Calls (as defined in Note 8, “Long-Term Debt”) do not impact our diluted earnings per common share calculations as their effect would be anti-dilutive. The Capped Calls are generally intended to reduce the potential dilution to our common stock upon any conversion of the 2021 Notes and/or offset any cash payments we are required to make in excess of the principal amount of converted 2021 Notes, in the event that at the time of conversion our common stock price exceeds the $62.08 conversion price, with such reduction and/or offset subject to a cap of $100.00.

There is no impact on our calculation of the dilutive effect of our 2014 Notes upon adoption of ASU No. 2020-06 as we were obligated to settle the principal amount of our 2014 Notes in cash and settled the conversion spread with shares of our common stock in connection with the maturity of the 2014 Notes. Following the completion of the Spin-Off on February 1, 2021, the strike prices of the conversion features of our 2014 Notes and Warrants (as defined in Note 8, “Long-Term Debt”) were reduced to $40.55 per share and $47.18 per share, respectively, which increased the equivalent number of underlying common shares to 9,541,000 and 9,865,000, respectively.

Our Note Hedges (as defined in Note 8, “Long-Term Debt”) did not impact our diluted earnings per common share calculations because their effect would be anti-dilutive. However, in connection with the maturity of the 2014 Notes, the common shares delivered to us under the Note Hedges neutralized the dilutive effect of the common shares that we issued under the 2014 Notes to settle the conversion premium. As a result, the settlement of the outstanding 2014 Notes did not increase our outstanding common stock.

Our Warrants (as defined in Note 8, “Long-Term Debt”) had a dilutive impact on net income per common share to the extent that we reported net income for the applicable period and the average market value of our common stock exceeded the strike price of the Warrants. The Warrants expired incrementally on a series of expirations dates between August 30, 2021 and January 21, 2022. At each expiration date the Warrants were exercised where the market price per share of our common stock exceeded the strike price of the Warrants, and we issued an aggregate of 293,143 shares of our common stock as part of the cashless exercise of approximately 5,031,000 Warrants. There are no Warrants outstanding as of January 31, 2022.

Further details regarding the 2021 Notes, Capped Calls, 2014 Notes, Note Hedges, and the Warrants appear in Note 8, “Long-Term Debt”.

On December 4, 2019, we announced that the Apax Investor would invest up to $400.0 million in us, in the form of convertible preferred stock. On May 7, 2020, the purchase of $200.0 million of our Series A Preferred Stock closed. On April 6, 2021, in connection with the completion of the Spin-Off, the Apax Investor purchased $200.0 million of our Series B Preferred Stock. The weighted-average common shares underlying the assumed conversion of the Preferred Stock, on an as-converted basis, were excluded from the calculation of diluted net income per common share for the years ended January 31, 2022 and 2021, as their effect would have been anti-dilutive. Further details regarding the Preferred Stock investment appear in Note 10, “Convertible Preferred Stock”.

CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS

12 Months Ended

Jan. 31, 2022

Cash, Cash Equivalents, and Short-term Investments [Abstract]

CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS

The following tables summarize our cash, cash equivalents, and short-term investments as of January 31, 2022 and 2021:


	January 31, 2022
(in thousands)	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash and bank time deposits	$	201,769	$	—	$	—	$	201,769
Money market funds	127,041		—		—		127,041
Commercial paper	29,995		—		—		29,995
Total cash and cash equivalents	$	358,805	$	—	$	—	$	358,805

Short-term investments:
Bank time deposits	$	765	$	—	$	—	$	765
Total short-term investments	$	765	$	—	$	—	$	765


	January 31, 2021
(in thousands)	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash and bank time deposits	$	243,183	$	—	$	—	$	243,183
Money market funds	342,090		—		—		342,090
Total cash and cash equivalents	$	585,273	$	—	$	—	$	585,273

Short-term investments:
Bank time deposits	$	46,300	$	—	$	—	$	46,300
Total short-term investments	$	46,300	$	—	$	—	$	46,300

Bank time deposits which are reported within short-term investments consist of deposits held outside of the United States with maturities of greater than 90 days, or without specified maturity dates which we intend to hold for periods in excess of 90 days. All other bank deposits are included within cash and cash equivalents.

During the years ended January 31, 2022, 2021, and 2020, proceeds from maturities and sales of short-term investments were $46.3 million, $69.8 million, and $5.8 million, respectively.

The decrease in cash and cash equivalents primarily related to refinancing of our outstanding borrowings, further details of which appear in Note 8, “Long-term Debt”.

BUSINESS COMBINATIONS AND DIVESTITURES

12 Months Ended

Jan. 31, 2022

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATIONS AND DIVESTITURES

Year Ended January 31, 2022

Conversocial Limited

On August 23, 2021, we completed the acquisition of all of the outstanding shares of Conversocial Limited (together with its subsidiaries, “Conversocial”), a leading messaging platform that enables brands to deliver superior customer experiences. Conversocial has offices in London, United Kingdom and New York, New York.

The purchase price consisted of (i) $53.4 million of cash paid at closing, funded from cash on hand, partially offset by $3.2 million of Conversocial’s cash received in the acquisition, resulting in net cash consideration at closing of $50.2 million; and (ii) $0.2 million of other purchase price adjustments. The purchase price for Conversocial was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date, with the remaining unallocated purchase price recorded as goodwill. The fair values assigned to identifiable intangible assets acquired were determined primarily by using the income approach, which discounts the expected future cash flows to present value using estimates and assumptions determined by management.

Among the factors contributing to the recognition of goodwill as a component of the Conversocial purchase price allocation were synergies in products and technologies, and the addition of a skilled, assembled workforce. The acquisition resulted in the recognition of $31.6 million of goodwill, of which $0.5 million is deductible for income tax purposes and $31.1 million is not deductible.

In connection with the purchase price allocation for Conversocial, the estimated fair value of undelivered performance obligations under customer contracts assumed in the acquisition was determined utilizing a cost build-up approach. The cost build-up approach calculated fair value by estimating the costs required to fulfill the obligations plus a reasonable profit margin, which approximates the amount that we believe would be required to pay a third party to assume the performance obligations. The estimated costs to fulfill the performance obligations were based on the historical direct costs for delivering similar services. As a result, in allocating the purchase price, we recorded $3.4 million of current and long-term contract liabilities, representing the estimated fair value of undelivered performance obligations for which payment had been received, which will be recognized as revenue as the underlying performance obligations are delivered. For undelivered performance obligations for which payment had not been received, we recorded a $1.2 million asset as a component of the purchase price allocation, representing the estimated fair value of these obligations, $0.7 million of which is included within prepaid expenses and other current assets and $0.5 million of which is included in other assets. We are amortizing this asset over the underlying delivery periods, which adjusts the revenue we recognize for providing these services to its estimated fair value.

Transaction and related costs directly related to the acquisition of Conversocial, consisting primarily of professional fees and integration expenses, were $3.4 million for the year ended January 31, 2022, and were expensed as incurred and are included in selling, general and administrative expenses.

Revenue and net income (loss) attributable to Conversocial included in our consolidated statement of operations for the year ended January 31, 2022 were not material.

The purchase price allocation for Conversocial has been prepared on a preliminary basis and changes to the allocation may occur as additional information becomes available during the measurement period (up to one year from the acquisition date). Fair values still under review include values assigned to identifiable intangible assets, deferred income taxes, and reserves for uncertain income tax positions.

The following table sets forth the components and the allocation of the purchase price for our acquisition of Conversocial:


(in thousands)	Amount
Components of Purchase Price:
Cash	$	53,409
Other purchase price adjustments	(190)
Total purchase price	$	53,219

Allocation of Purchase Price:
Net tangible assets (liabilities):
Accounts receivable	$	1,694
Other current assets, including cash acquired	5,302
Other assets	511
Current and other liabilities	(1,945)
Contract liabilities - current and long-term	(3,410)
Deferred income taxes	(407)
Net tangible assets	1,745
Identifiable intangible assets:
Customer relationships	9,800
Developed technology	9,900
Trademarks and trade names	200
Total identifiable intangible assets	19,900
Goodwill	31,574
Total purchase price allocation	$	53,219

The acquired customer relationships, developed technology, and trademarks and trade names were assigned estimated useful lives of seven years, five years, and one year, respectively, the weighted average of which is approximately 5.9 years. The acquired identifiable intangible assets are being amortized on a straight-line basis, which we believe approximates the pattern in which the assets are utilized, over their estimated useful lives.

Other Business Combinations

During the three months ended July 31, 2021, we completed the acquisition of certain assets from a leader in contact center hiring automation that qualified as a business combination. This transaction resulted in increases to goodwill, customer relationships, and acquired technology intangible assets, but was not material to our consolidated financial statements, and as a result, additional business combination disclosures for this acquisition have been omitted. There were no other business combinations during the year ended January 31, 2022.

Year Ended January 31, 2021

We did not complete any business combinations during the year ended January 31, 2021.

Year Ended January 31, 2020

During the year ended January 31, 2020, we completed three business combinations:

•On February 1, 2019, we completed the acquisition of a SaaS workforce optimization company focused on the small and medium-sized business (“SMB”) market as part of our strategy to expand our SMB portfolio.

•On July 25, 2019, we completed the acquisition of a SaaS company focused on cloud-based knowledge management solutions as part of our strategy to add additional artificial intelligence and machine learning capabilities into our portfolio.

•On January 13, 2020, we completed the acquisition of a SaaS based company providing web and mobile session replay solutions.

These business combinations were not individually material to our consolidated financial statements.

The combined consideration for these business combinations was approximately $65.9 million, and consisted of (i) $57.4 million of combined cash paid at closings or shortly thereafter, partially offset by $2.2 million of cash acquired, resulting in net cash consideration at closing of $55.2 million; (ii) the fair value of the contingent consideration arrangements described below of $8.2 million; and (iii) $0.3 million of other purchase price adjustments. For two of the business combinations, we agreed to make potential additional cash payments to the respective former shareholders aggregating up to approximately $14.3 million, contingent upon the achievement of certain performance targets over periods that extended through January 2022, the fair values of which were estimated to be $8.2 million at the acquisition dates. Cash paid for these business combinations was funded by cash on hand.

The purchase prices for these business combinations were allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the remaining unallocated purchase prices recorded as goodwill. The fair value assigned to identifiable intangible assets acquired were determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management.

Included among the factors contributing to the recognition of goodwill in these transactions were synergies in products and technologies, and the addition of skilled, assembled workforces. These acquisitions resulted in the recognition of a combined $39.1 million of goodwill, $15.7 million of which is deductible for income tax purposes.

Revenue and net income (loss) attributable to these business acquisitions for the year ended January 31, 2020 were not material.

Transaction and related costs, consisting primarily of professional fees and integration expenses, directly related to these business combinations, totaled $1.3 million and $5.4 million for the years ended January 31, 2021 and 2020, respectively. All transaction and related costs were expensed as incurred and are included in selling, general and administrative expenses.

The purchase price allocations for the business combinations completed during the year ended January 31, 2020 are final.

The following table sets forth the components and the allocations of the combined purchase prices for the business combinations completed during the year ended January 31, 2020, including adjustments identified subsequent to the valuation date, none of which were material:


(in thousands)	Amount
Components of Purchase Prices:
Cash	$	57,355
Fair value of contingent consideration	8,230
Other purchase price adjustments	281
Total purchase prices	$	65,866

Allocation of Purchase Prices:
Net tangible assets (liabilities):
Accounts receivable	$	1,790
Other current assets, including cash acquired	6,590
Other assets	3,799
Current and other liabilities	(5,428)
Contract liabilities - current and long-term	(3,240)
Deferred income taxes	(2,719)
Net tangible assets	792
Identifiable intangible assets:
Customer relationships	11,847
Developed technology	13,083
Trademarks and trade names	1,000
Total identifiable intangible assets	25,930
Goodwill	39,144
Total purchase prices allocation	$	65,866

For these business acquisitions, customer relationships, developed technology, and trademarks and trade names were assigned estimated useful lives of from seven years to nine years, four years to five years, and four years to five years, respectively, the weighted average of which is approximately 6.4 years.

Other Business Combination Information

The pro forma impact of all business combinations completed during the three years ended January 31, 2022 was not material to our historical consolidated operating results and is therefore not presented.

The acquisition date fair values of contingent consideration obligations associated with business combinations are estimated based on probability adjusted present values of the consideration expected to be transferred using significant inputs that are not observable in the market. Key assumptions used in these estimates include probability assessments with respect to the likelihood of achieving the performance targets and discount rates consistent with the level of risk of achievement. At each reporting date, we revalue the contingent consideration obligations to their fair values and record increases and decreases in fair value within selling, general and administrative expenses in our consolidated statements of operations. Changes in the fair value of the contingent consideration obligations result from changes in discount periods and rates, and changes in probability assumptions with respect to the likelihood of achieving the performance targets.

For the years ended January 31, 2022 and 2020, we recorded charges of $0.9 million and $4.9 million, respectively, and we recorded a benefit of $0.8 million in the year ended January 31, 2021, within selling, general and administrative expenses for changes in the fair values of contingent consideration obligations associated with business combinations. The aggregate fair value of the remaining contingent consideration obligations associated with business combinations was $7.8 million at January 31, 2022, all of which was recorded within accrued expenses and other current liabilities.

Payments of contingent consideration earned under these agreements were $9.6 million, $15.2 million, and $29.7 million for the years ended January 31, 2022, 2021, and 2020, respectively.

Divestiture

In January 2020, we completed the sale of an insignificant subsidiary which qualified as a separate business, as it no longer fit with our strategic direction or growth targets. In accordance with the terms of the sale agreement, the aggregate purchase price is equal to a percentage of net sales of the former subsidiary’s products during the thirty-six month period following the transaction closing date. We determined the estimated fair value of the contingent consideration with the assistance of a third-party valuation specialist and estimates made by management. The transaction reduced goodwill by $1.1 million and intangible assets by $1.9 million. The transaction resulted in a loss of approximately $2.2 million, which was recorded as part of selling, general, and administrative expenses in our consolidated statement of operations for the year ended January 31, 2020. Please refer to Note 14, “Fair Value Measurements” for a more detailed discussion of changes in the estimated fair value of the contingent consideration.

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Jan. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

Acquisition-related intangible assets, excluding certain intangible assets previously acquired that were fully amortized and removed from our consolidated balance sheets, consisted of the following as of January 31, 2022 and 2021:


	January 31, 2022
(in thousands)	Cost		Accumulated Amortization		Net
Intangible assets with finite lives:
Customer relationships	$	467,408	$	(375,827)	$	91,581
Acquired technology	229,501		(203,895)		25,606
Trade names	5,677		(4,610)		1,067
Distribution network	2,440		(2,440)		—
Total intangible assets	$	705,026	$	(586,772)	$	118,254


	January 31, 2021
(in thousands)	Cost		Accumulated Amortization		Net
Intangible assets with finite lives:
Customer relationships	$	464,586	$	(356,064)	$	108,522
Acquired technology	222,040		(189,687)		32,353
Trade names	9,424		(6,555)		2,869
Distribution network	2,440		(2,440)		—
Total intangible assets	$	698,490	$	(554,746)	$	143,744

Total amortization expense recorded for acquisition-related intangible assets was $46.8 million, $47.7 million, and $52.4 million for the years ended January 31, 2022, 2021, and 2020, respectively. The reported amount of net acquisition-related intangible assets can fluctuate from the impact of changes in foreign currency exchange rates on intangible assets not denominated in U.S. dollars.

Estimated future amortization expense on finite-lived acquisition-related intangible assets is as follows:


(in thousands)
Years Ending January 31,	Amount
2023	$	40,479
2024	31,359
2025	14,978
2026	13,681
2027	9,733
Thereafter	8,024
Total	$	118,254

We recorded $0.4 million of impairments for certain acquired trade names, which is included within selling, general and administrative expenses for the year ended January 31, 2022. There were no material impairments for the years ended January 31, 2021 and 2020.

Goodwill activity for the years ended January 31, 2022, and 2021 was as follows:



(in thousands)	Total
Year Ended January 31, 2021:
Goodwill, gross, at January 31, 2020	$	1,367,111
Accumulated impairment losses through January 31, 2020	(56,043)
Goodwill, net, at January 31, 2020	1,311,068
Foreign currency translation and other	16,339
Goodwill, net, at January 31, 2021	$	1,327,407

Year Ended January 31, 2022:
Goodwill, gross, at January 31, 2021	$	1,383,450
Accumulated impairment losses through January 31, 2021	(56,043)
Goodwill, net, at January 31, 2021	1,327,407
Business combinations	36,006
Foreign currency translation and other	(9,992)
Goodwill, net, at January 31, 2022	$	1,353,421

Balance at January 31, 2022
Goodwill, gross, at January 31, 2022	$	1,409,464
Accumulated impairment losses through January 31, 2022	(56,043)
Goodwill, net, at January 31, 2022	$	1,353,421

For purposes of reviewing for potential goodwill impairment, as of January 31, 2022, we had one reporting unit. Based on our November 1, 2021 and 2020 quantitative goodwill impairment reviews, we concluded that the estimated fair values of our reporting unit significantly exceeded its carrying value.

No changes in circumstances or indicators of potential impairment were identified between November 1 and January 31 in each of the years ended January 31, 2022 and 2021.

No goodwill impairment was identified for the years ended January 31, 2022, 2021, and 2020.

LONG-TERM DEBT

12 Months Ended

Jan. 31, 2022

Debt Disclosure [Abstract]

LONG-TERM DEBT

The following table summarizes our long-term debt at January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
2021 Notes	$	315,000	$	—
2014 Notes	—		386,887
2017 Term Loan	100,000		410,125
Less: Unamortized debt discounts and issuance costs	(8,046)		(7,518)
Total debt	406,954		789,494
Less: current maturities	—		386,713
Long-term debt	$	406,954	$	402,781

2021 Notes

On April 9, 2021, we issued $315.0 million in aggregate principal amount of 0.25% convertible senior notes due April 15, 2026, unless earlier converted by the holders pursuant to their terms. The 2021 Notes are unsecured and pay interest in cash semiannually in arrears at a rate of 0.25% per annum.

We used a portion of the net proceeds from the issuance of the 2021 Notes to pay the costs of the capped call transactions described below. We also used a portion of the net proceeds from the issuance of the 2021 Notes, together with the net proceeds from the April 6, 2021 issuance of $200.0 million of Series B Preferred Stock, to repay a portion of the outstanding indebtedness under our 2017 Credit Agreement described below, to terminate an interest rate swap agreement, and to repurchase shares of our common stock. The remainder is being used for working capital and other general corporate purposes.

The 2021 Notes are convertible into shares of our common stock at an initial conversion rate of 16.1092 shares per $1,000 principal amount of 2021 Notes, which represents an initial conversion price of approximately $62.08 per share, subject to adjustment upon the occurrence of certain events, and subject to customary anti-dilution adjustments. Prior to January 15, 2026, the 2021 Notes will be convertible only upon the occurrence of certain events and during certain periods, and will be convertible thereafter at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the 2021 Notes. Upon conversion of the 2021 Notes, holders will receive cash up to the aggregate principal amount, with any remainder to be settled with cash or common stock, or a combination thereof, at our election. As of January 31, 2022, the 2021 Notes were not convertible.

We incurred approximately $8.9 million of issuance costs in connection with the 2021 Notes, which have been deferred and are presented as a reduction of long-term debt, and which are being amortized as interest expense over the term of the 2021 Notes. Including the impact of the deferred debt issuance costs, the effective interest rate on the 2021 Notes was approximately 0.83% at January 31, 2022.

Based on the closing market price of our common stock on January 31, 2022, the if-converted value of the 2021 Notes was less than their aggregate principal amount.

2014 Notes

On June 18, 2014, we issued $400.0 million in aggregate principal amount of 1.50% convertible senior notes, with a maturity date of June 1, 2021. Net proceeds from the 2014 Notes after underwriting discounts were $391.9 million. The 2014 Notes were unsecured and paid interest in cash semiannually in arrears at a rate of 1.50% per annum.

Effective December 1, 2020 until the close of business on the second scheduled trading day immediately preceding the June 1, 2021 maturity date, holders could have surrendered their 2014 Notes for conversion regardless of whether any of the other specified conditions for conversion had been satisfied. On February 26, 2021, we deposited approximately $390.0 million of cash, representing the full principal amount of the 2014 Notes then outstanding as well as the final interest payment on the 2014 Notes due at maturity, into an escrow account to cash collateralize the 2014 Notes.

In connection with the maturity of the 2014 Notes on June 1, 2021, we paid an aggregate of $389.8 million in cash for the settlement of the 2014 Notes, which included $386.9 million in satisfaction of the outstanding principal of the 2014 Notes and $2.9 million related to the final interest payment on the 2014 Notes. We funded the repayment of the outstanding principal amount of the 2014 Notes and accrued interest thereon using the cash we had placed in escrow. Additionally, the 2014 Notes had an incremental conversion value of $57.7 million as the market value per share of our common stock, as measured under the terms of the 2014 Notes, was greater than the conversion price of the 2014 Notes. We issued approximately 1,250,000 shares of common stock to the holders of the 2014 Notes as payment of the conversion premium, which we issued from treasury stock.

As of January 31, 2021, the 2014 Notes had a conversion rate of 15.5129 shares of common stock per $1,000 principal amount of 2014 Notes, which represented an effective conversion price of approximately $64.46 per share of common stock and would have resulted in the issuance of approximately 6,002,000 shares if all of the 2014 Notes had been converted and the conversions were settled entirely in common stock. As a result of the Spin-Off, the conversion rate was adjusted to 24.6622 shares of common stock per $1,000 principal amount of 2014 Notes, which represented an effective conversion price of $40.55 per share of common stock and would have resulted in the issuance of approximately 9,541,000 shares if all of the 2014 Notes had been converted prior to maturity and the conversions were settled entirely in common stock.

At issuance, in accordance with then-applicable accounting guidance for convertible debt with a cash conversion option, we separately accounted for the debt and equity components of the 2014 Notes in a manner that reflected our estimated nonconvertible debt borrowing rate. We estimated the debt and equity components of the 2014 Notes to be $319.9 million and $80.1 million, respectively, at the issuance date, assuming a 5.00% non-convertible borrowing rate. The equity component was recorded as an increase to additional paid-in capital. Through January 31, 2021, the excess of the principal amount of the debt component over its carrying amount (the “debt discount”) was being amortized as interest expense over the term of the 2014 Notes using the effective interest method. The equity component was not remeasured as long as it continued to meet the conditions for equity classification.

We allocated transaction costs related to the issuance of the 2014 Notes, including underwriting discounts, of $7.6 million and $1.9 million to the debt and equity components, respectively. Issuance costs attributable to the debt component of the 2014 Notes are presented as a reduction of long-term debt and were amortized as interest expense over the term of the 2014 Notes, and issuance costs attributable to the equity component were netted with the equity component in additional paid-in capital.

During the three months ended July 31, 2020, we repurchased $13.1 million principal amount of the 2014 Notes (the “Repurchased 2014 Notes”) in open market transactions for an aggregate of $13.0 million in cash, resulting in a debt extinguishment loss of $0.1 million, and a $0.2 million charge to additional paid-in-capital.

At January 31, 2021, because the 2014 Notes were convertible, $4.8 million of the 2014 Notes’ equity component was classified as temporary equity on our consolidated balance sheet, representing the difference between the principal amount and the net carrying amount of the 2014 Notes that could be requested for conversion.

As permitted, on February 1, 2021, we early adopted ASU No. 2020-06, which otherwise would have been effective for us on February 1, 2022. As a result, effective February 1, 2021, we no longer presented separate liability and equity components for the 2014 Notes on our consolidated balance sheet. We implemented the provisions of ASU No. 2020-06 using the modified retrospective approach, such that comparative information has not been restated and continues to be reported under accounting standards in effect for those periods.

The adoption of ASU No. 2020-06 resulted in the $78.0 million carrying value of the 2014 Notes’ equity component at January 31, 2021, which included applicable issuance costs and the portion classified within temporary equity, being reclassified and combined with the liability component of the 2014 Notes. This resulted in a $43.4 million decrease to additional paid-in capital,

a $4.8 million decrease to temporary equity, a $4.4 million increase to current maturities of long-term debt, a $0.9 million decrease to deferred tax liabilities, a $0.1 million increase in unamortized debt issuance costs (a component of long-term debt), and a $44.9 million decrease to our accumulated deficit.

As the 2014 Notes were due June 1, 2021, they are classified within current maturities of long-term debt on our consolidated balance sheets as of January 31, 2021.

Capped Calls, Note Hedges and Warrants

Capped Calls

In connection with the issuance of the 2021 Notes, on April 6, 2021 and April 8, 2021, we entered into capped call transactions (the “Capped Calls”) with certain counterparties. The Capped Calls are generally intended to reduce the potential dilution to our common stock upon any conversion of the 2021 Notes and/or offset any cash payments we are required to make in excess of the principal amount of converted 2021 Notes, in the event that at the time of conversion our common stock price exceeds the conversion price, with such reduction and/or offset subject to a cap.

The Capped Calls exercise price is equal to the $62.08 initial conversion price of each of the 2021 Notes, and the cap price is $100.00, each subject to certain adjustments under the terms of the Capped Calls. Our exercise rights under the Capped Calls generally trigger upon conversion of the 2021 Notes, and the Capped Calls terminate upon maturity of the 2021 Notes, or the first day the 2021 Notes are no longer outstanding. As of January 31, 2022, no Capped Calls have been exercised.

Pursuant to their terms, the Capped Calls qualify for classification within stockholders’ equity, and their fair value is not remeasured and adjusted as long as they continue to qualify for stockholders’ equity classification. We paid approximately $41.1 million for the Capped Calls, including applicable transaction costs, which was recorded as a reduction to additional paid-in capital.

Note Hedges and Warrants

Concurrently with the issuance of the 2014 Notes, we entered into convertible note hedge transactions (the “Note Hedges”) and sold warrants (the “Warrants”). The combination of the Note Hedges and the Warrants served to increase the effective initial conversion price for the 2014 Notes to $75.00 per share. Subsequent to the Spin-Off, as a result of conversion rate adjustments, the Note Hedges and the Warrants served to increase the effective conversion price for the 2014 Notes to $47.18 per share. The Note Hedges and Warrants were each separate instruments from the 2014 Notes.

Note Hedges

Pursuant to the Note Hedges, we purchased call options on our common stock, under which we had the right to acquire from the counterparties up to approximately 6,205,000 shares of our common stock, subject to customary anti-dilution adjustments, at a price of $64.46, which equaled the initial conversion price of the 2014 Notes. As a result of the Spin-Off, on February 1, 2021, the call options on our stock were adjusted to allow us to purchase up to 9,865,000 shares of our common stock at a price of $40.55, which is equal to the adjusted conversion price of the 2014 Notes. We were permitted to settle the Note Hedges in cash, shares of our common stock, or a combination thereof, at our option, and the Note Hedges were intended to reduce our exposure to potential dilution upon conversion of the 2014 Notes. We paid $60.8 million for the Note Hedges, which was recorded as a charge to additional paid-in capital. Our exercise rights under the Note Hedges were automatically triggered upon conversion of any 2014 Notes and the Note Hedges otherwise terminated upon maturity of the 2014 Notes on June 1, 2021. In connection with the maturity of the 2014 Notes on June 1, 2021, we received approximately 1,250,000 shares of our common stock from the counterparties under the Note Hedges, which offset the dilution resulting from the stock settlement of the conversion premium on the 2014 Notes as the market value per share of our common stock, as measured under the terms of the Note Hedges, was greater than the strike price of the Note Hedges.

The Repurchased 2014 Notes acquired during the three months ended July 31, 2020 as described above did not change the number of common shares subject to the Note Hedges as the counterparties agreed that the options under the Note Hedges remained outstanding notwithstanding such repurchase. Upon maturity of the 2014 Notes, we received approximately 42,000 shares of our common stock from the counterparties to the Note Hedges as reimbursement for the in-the-money portion of the Repurchased 2014 Notes.

Warrants

We sold the Warrants to several counterparties. The Warrants initially provided the counterparties rights to acquire from us up to approximately 6,205,000 shares of our common stock at a price of $75.00 per share. As a result of the Spin-Off, the terms of the Warrants were adjusted to provide the counterparties the rights to acquire from us up to approximately 9,865,000 shares of our common stock at a price of $47.18 per share. Proceeds from the sale of the Warrants were $45.2 million and were recorded as additional paid-in capital. The Warrants expired incrementally on a series of expiration dates between August 30, 2021 and January 21, 2022. At each expiration date the Warrants were exercised where the market price per share of our common stock exceeded the strike price of the Warrants, and we issued an aggregate of 293,143 shares of our common stock as part of the cashless exercise of approximately 5,031,000 Warrants. The Warrants had a dilutive effect on net income per share to the extent that the average market value of our common stock, as measured under the terms of the Warrants, exceeded the strike price of the Warrants. There are no Warrants outstanding as of January 31, 2022.

The Note Hedges and Warrants both qualified for classification within stockholders’ equity and therefore no changes to their respective fair values were recorded in our consolidated statements of operations for any period.

Credit Agreements

2017 Credit Agreement

On June 29, 2017, we entered into a credit agreement (the “2017 Credit Agreement”) with certain lenders and terminated a prior credit agreement. The credit agreement was amended in 2018, 2020, and 2021, as further described below (as amended, the “2017 Credit Agreement”).

The 2017 Credit Agreement provides for $725.0 million of senior secured credit facilities, comprised of a $425.0 million term loan maturing on June 29, 2024 (the “2017 Term Loan”), of which $100.0 million and $410.1 million was outstanding at January 31, 2022 and 2021, respectively, and a $300.0 million revolving credit facility maturing on April 9, 2026 (the “2021 Revolving Credit Facility”), which refinanced our prior $300.0 million revolving credit facility (the “2017 Revolving Credit Facility”), subject to increase and reduction from time to time according to the terms of the 2017 Credit Agreement.

The majority of the proceeds from the 2017 Term Loan were used to repay all outstanding terms loans under our prior credit agreement.

The 2017 Term Loan was subject to an original issuance discount of approximately $0.5 million, which is being amortized as interest expense over the term of the 2017 Term Loan using the effective interest method.

Interest rates on loans under the 2017 Credit Agreement are periodically reset, at our option, at either a Eurodollar Rate or an ABR rate (each as defined in the 2017 Credit Agreement), plus in each case a margin. On January 31, 2018, we entered into an amendment to the 2017 Credit Agreement (the “2018 Amendment”) providing for, among other things, a reduction of the interest rate margins on the 2017 Term Loan from 2.25% to 2.00% for Eurodollar loans, and from 1.25% to 1.00% for ABR loans.

During the three months ended April 30, 2021, in addition to our regular quarterly $1.1 million principal payment, we repaid $309.0 million of our 2017 Term Loan, reducing the outstanding balance to $100.0 million. As a result, $1.8 million of deferred debt issuance costs and $0.2 million of unamortized discount associated with the 2017 Term Loan were written off, and are included within losses on early retirements of debt on our consolidated statement of operations for the year ended January 31, 2022. Optional prepayments of loans under the 2017 Credit Agreement are generally permitted without premium or penalty.

On April 9, 2021, we amended the 2017 Credit Agreement (the “2021 Amendment”), pursuant to which we refinanced the 2017 Revolving Credit Facility, which would otherwise have matured on June 29, 2022, with the $300.0 million 2021 Revolving Credit Facility maturing on April 9, 2026.

The maturity dates of the 2017 Term Loan and 2017 Revolving Credit Facility would have been accelerated to March 1, 2021 if on such date any 2014 Notes remained outstanding, unless such outstanding 2014 Notes were cash collateralized pursuant to a second amendment to the 2017 Credit Agreement (the “2020 Amendment”), entered into on June 8, 2020. Pursuant to the 2020 Amendment, we were permitted to effect the previously announced Spin-Off of our Cyber Intelligence Solutions business within the parameters set forth in the 2017 Credit Agreement, as amended, and our 2014 Notes would not be deemed to be outstanding for purposes of the determination of the maturity dates of the 2017 Term Loan and the 2017 Revolving Credit Facility discussed above if such 2014 Notes were cash collateralized in accordance with the 2017 Credit Agreement. On February 26, 2021, as noted above, we cash collateralized the 2014 Notes in satisfaction of the cash collateralization provisions of the 2020 Amendment. Accordingly, the maturity dates of the 2017 Term Loan and 2017 Revolving Credit Facility were not accelerated to March 1, 2021.

As of January 31, 2022, the interest rate on the 2017 Term Loan was 2.10%. Taking into account the impact of the original issuance discount and related deferred debt issuance costs, the effective interest rate on the 2017 Term Loan was approximately 2.30% at January 31, 2022. As of January 31, 2021, the interest rate on the 2017 Term Loan was 2.14%.

For borrowings under the 2021 Revolving Credit Facility, and previously under the 2017 Revolving Credit Facility, the margin is determined by reference to our Consolidated Total Debt to Consolidated EBITDA (each as defined in the 2017 Credit Agreement) leverage ratio (the "Leverage Ratio"). In addition, under the 2021 Revolving Credit Facility, and previously under the 2017 Revolving Credit Facility, we are required to pay a commitment fee with respect to unused availability at rates per annum determined by reference to our Leverage Ratio. During the three months ended October 31, 2020, we repaid in full $200.0 million of borrowings then outstanding under the 2017 Revolving Credit Facility using available cash on hand.

Our obligations under the 2017 Credit Agreement are guaranteed by each of our direct and indirect existing and future material domestic wholly owned restricted subsidiaries, and are secured by a security interest in substantially all of our assets and the assets of the guarantor subsidiaries, subject to certain exceptions.

The 2017 Credit Agreement contains certain customary affirmative and negative covenants for credit facilities of this type. The 2017 Credit Agreement also contains a financial covenant that, solely with respect to the 2017 Revolving Credit Facility, requires us to maintain a Leverage Ratio of no greater than 4.50 to 1. The limitations imposed by the covenants are subject to certain exceptions as detailed in the 2017 Credit Agreement.

The 2017 Credit Agreement provides for events of default with corresponding grace periods that we believe are customary for credit facilities of this type. Upon an event of default, all of our obligations owed under the 2017 Credit Agreement may be declared immediately due and payable, and the lenders’ commitments to make loans under the 2017 Credit Agreement may be terminated.

2017 Credit Agreement Issuance and Amendment Costs

We incurred debt issuance costs of approximately $6.8 million in connection with the 2017 Credit Agreement, of which $4.1 million were associated with the 2017 Term Loan and $2.7 million were associated with the 2017 Revolving Credit Facility, which were deferred and are being amortized as interest expense over the terms of the facilities. During the year ended January 31, 2018, we wrote off $0.2 million of deferred debt issuance costs associated with the 2017 Term Loan as a result of the 2018 Amendment. During the year ended January 31, 2021, we incurred $2.1 million of debt modification costs related to the 2020 Amendment, $1.2 million of which were expensed, and $0.9 million of which were deferred (comprised of $0.5 million associated with the 2017 Term Loan, and $0.4 million associated with the 2017 Revolving Credit Facility), and which are being amortized along with the existing unamortized debt issuance costs.

At the time of the 2021 Amendment, there were $1.3 million of unamortized deferred debt issuance costs associated with the 2017 Revolving Credit Facility, of which $0.8 million were associated with commitments under the 2017 Revolving Credit Facility provided by lenders that are continuing to provide commitments under the 2021 Revolving Credit Facility and therefore continued to be deferred, and which are now being amortized over the term of the 2021 Revolving Credit Facility. The remaining $0.5 million of unamortized deferred debt issuance costs associated with the 2017 Revolving Credit Facility were written off and are included within losses on early retirements of debt on our consolidated statement of operations for the year ended January 31, 2022. We incurred $1.5 million of debt modification costs related to the 2021 Amendment, all of which are associated with the 2021 Revolving Credit Facility, which have been deferred and are being amortized along with the previously deferred debt issuance costs over the term of the 2021 Revolving Credit Facility.

Deferred debt issuance costs associated with the 2017 Term Loan are being amortized using the effective interest rate method, and deferred debt issuance costs associated with the 2017 Revolving Credit Facility are being amortized on a straight-line basis.

Future Principal Payments on the Term Loan

As a result of the significant 2017 Term Loan principal payments made during the three months ended April 30, 2021, no further principal payments are required prior to the maturity of the 2017 Term Loan on June 29, 2024.

Interest Expense

The following table presents the components of interest expense incurred on the 2021 Notes, 2014 Notes, and on borrowings under our 2017 Credit Agreement for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
2021 Notes:
Interest expense at 0.25% coupon rate	$	639	$	—	$	—
Amortization of deferred debt issuance costs	1,416		—		—
Total Interest Expense - 2021 Notes	$	2,055	$	—	$	—

2014 Notes:
Interest expense at 1.50% coupon rate	$	1,933	$	5,887	$	6,000
Amortization of debt discount	—		12,884		12,490
Amortization of deferred debt issuance costs	522		1,215		1,177
Total Interest Expense - 2014 Notes	$	2,455	$	19,986	$	19,667

Borrowings under 2017 Credit Agreement:
Interest expense at contractual rates	$	3,366	$	13,018	$	18,021
Impact of interest rate swap agreement	1,014		4,368		792
Amortization of debt discounts	18		74		68
Amortization of deferred debt issuance costs	930		1,811		1,569
Total Interest Expense - Borrowings under 2017 Credit Agreement	$	5,328	$	19,271	$	20,450

On May 1, 2020, our interest rate swap agreement no longer qualified as a cash flow hedge for accounting purposes and as such, accumulated deferred losses on our interest rate swap that were previously recorded as a component of accumulated other comprehensive loss were being reclassified to the consolidated statement of operations as interest expense over the remaining term of the interest rate swap, as the previously hedged interest payments occurred. On April 13, 2021, we paid $16.5 million to the counterparty to settle the 2018 Swap (as defined in Note 15, “Derivative Financial Instruments”) prior to its June 2024 maturity, and reclassified the remaining $15.7 million of pretax accumulated deferred losses from accumulated other comprehensive loss within stockholders’ equity to other income (expense) on our consolidated statement of operations for the year ended January 31, 2022. The associated $3.7 million deferred tax asset was reclassified from accumulated other comprehensive loss and netted against income taxes receivable, which are included within prepaid expenses and other current assets on our consolidated balance sheet as of January 31, 2022.

Please refer to Note 15, “Derivative Financial Instruments” for a more detailed discussion of our interest rate swap agreement.

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

12 Months Ended

Jan. 31, 2022

Condensed Financial Information Disclosure [Abstract]

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

Consolidated Balance Sheets

Inventories consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Raw materials	$	3,001	$	2,768
Work-in-process	150		26
Finished goods	2,186		2,747
Total inventories	$	5,337	$	5,541

Property and equipment, net consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Land and buildings	$	7,994	$	8,124
Leasehold improvements	18,155		23,153
Software	76,152		61,871
Equipment, furniture, and other	64,363		66,444
Total cost	166,664		159,592
Less: accumulated depreciation and amortization	(102,574)		(90,502)
Total property and equipment, net	$	64,090	$	69,090

The amounts in the table above as of January 31, 2021 have been revised to decrease previously presented equipment, furniture and other, and increase previously presented software by $44.5 million, respectively. This reclassification did not affect total property and equipment, net on our consolidated balance sheet as of January 31, 2021.

Depreciation expense on property and equipment was $20.7 million, $30.6 million, and $23.5 million in the years ended January 31, 2022, 2021, and 2020, respectively.

Prepaid and other current assets consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Prepaid expenses	$	22,639	$	23,125
Other current assets	31,107		19,689
Total prepaid expenses and other current assets	$	53,746	$	42,814

Other assets consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Deferred commissions	$	51,714	$	46,379
Long-term contract assets, net	30,510		17,210
Capitalized software development costs, net	22,483		19,250
Long-term deferred cost of revenue	5,907		6,316
Noncontrolling equity investments	5,146		2,034
Deferred debt issuance costs, net	1,950		1,449
Long-term security deposits	702		567
Long-term restricted cash and time deposits	409		651
Other	7,817		3,368
Total other assets	$	126,638	$	97,224

Accrued expenses and other current liabilities consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Compensation and benefits	$	86,777	$	77,942
Operating lease obligations - current portion	24,551		14,230
Taxes other than income taxes	16,313		21,764
Preferred Stock dividends payable	10,400		5,200
Contingent consideration - current portion	7,776		9,595
Professional and consulting fees	3,771		4,996
Income taxes	602		1,514
Fair value of future tranche right	—		52,772
Other	18,504		23,504
Total accrued expenses and other current liabilities	$	168,694	$	211,517

Other liabilities consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Unrecognized tax benefits, including interest and penalties	$	16,345	$	14,441
Finance lease obligations - long-term portion	3,831		2,969
Derivative financial instruments - long-term portion	—		13,565
Contingent consideration - long-term portion	—		6,109
Other	1,820		5,635
Total other liabilities	$	21,996	$	42,719

Consolidated Statements of Operations

Other income (expense), net consisted of the following for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Foreign currency (losses) gains, net	$	(1,644)	$	(1,584)	$	672
(Losses) gains on derivative financial instruments, net	(14,374)		(1,267)		204
Change in fair value of future tranche right	15,810		(56,146)		—
Other, net	5,435		(1,604)		(267)
Total other income (expense), net	$	5,227	$	(60,601)	$	609

Consolidated Statements of Cash Flows

The following table provides supplemental information regarding our consolidated cash flows for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Cash paid for interest	$	9,716	$	24,612	$	23,209
Cash payments of income taxes, net	$	42,917	$	21,476	$	14,859
Non-cash investing and financing transactions:
Liabilities for contingent consideration in business combinations	$	900	$	—	$	8,230
Preferred Stock dividends declared	$	10,400	$	5,200	$	—
Finance leases of property and equipment	$	4,041	$	903	$	3,287
Settlement of Future Tranche Right upon issuance of Series B Preferred Stock	$	36,962	$	—	$	—
Retirement of treasury stock	$	234,999	$	—	$	—
Settlement of convertible note premium with common stock	$	59,131	$	—	$	—
Receipt of common stock from the counterparties under the Note Hedges	$	59,651	$	—	$	—
Accrued but unpaid purchases of property and equipment	$	750	$	2,731	$	962
Accrued but unpaid purchases of treasury stock	$	—	$	—	$	2,846
Leasehold improvements funded by lease incentives	$	—	$	119	$	2,604
Contingent receivable in exchange for sale of subsidiary	$	—	$	—	$	738

CONVERTIBLE PREFERRED STOCK	12 Months Ended
CONVERTIBLE PREFERRED STOCK	Jan. 31, 2022
Equity [Abstract]
CONVERTIBLE PREFERRED STOCK	CONVERTIBLE PREFERRED STOCK On December 4, 2019, we entered into an Investment Agreement with the Apax Investor, whereby, subject to certain closing conditions, the Apax Investor agreed to make an investment in us in an amount up to $400.0 million as follows: •On May 7, 2020 (the “Series A Closing Date”), we issued a total of 200,000 shares of our Series A Preferred Stock for an aggregate purchase price of $200.0 million, or $1,000 per share to the Apax Investor. In connection therewith, we incurred direct and incremental costs of $2.7 million, including financial advisory fees, closing costs, legal fees, and other offering-related costs. These direct and incremental costs reduced the carrying amount of the Series A Preferred Stock. •In connection with the completion of the Spin-Off, on April 6, 2021 (the “Series B Closing Date” and together with the Series A Closing Date, as applicable, the “Applicable Closing Date”), we issued a total of 200,000 shares of our Series B Preferred Stock for an aggregate purchase price of $200.0 million, or $1,000 per share to the Apax Investor. In connection therewith, we incurred direct and incremental costs of $1.3 million, including financial advisory fees, closing costs, legal fees, and other offering-related costs. These direct and incremental costs reduced the carrying amount of the Series B Preferred Stock. Each of the rights, preferences, and privileges of the Series A Preferred Stock and Series B Preferred Stock are set forth in separate certificates of designation filed with the Secretary of State of the State of Delaware on the Applicable Closing Date. Voting Rights Holders of the Preferred Stock have the right to vote on matters submitted to a vote of the holders of our common stock, on an as-converted basis; however, in no event will the holders of Preferred Stock have the right to vote shares of the Preferred Stock on an as-converted basis in excess of 19.9% of the voting power of the Common Stock outstanding immediately prior to December 4, 2019. Dividends and Liquidation Rights The Preferred Stock ranks senior to the shares of our common stock, with respect to dividend rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of our affairs. Shares of Preferred Stock have a liquidation preference of the greater of $1,000 per share or the amount that would be received if the shares are converted at the then applicable conversion price at the time of such liquidation. Each series of Preferred Stock pays dividends at an annual rate of 5.2% until the 48-month anniversary of the Series A Closing Date, and thereafter at a rate of 4.0%, subject to adjustment under certain circumstances. Dividends on the Preferred Stock are cumulative and payable semi-annually in arrears in cash. All dividends that are not paid in cash will remain accumulated dividends with respect to each share of Preferred Stock. The dividend rate is subject to increase (i) to 6.0% per annum in the event the number of shares of common stock into which the Preferred Stock could be converted exceeds 19.9% of the voting power of outstanding common stock on the Series A Closing Date (unless we obtain shareholder approval of the issuance of common stock upon conversion of the Preferred Stock) and (ii) by 1.0% each year, up to a maximum dividend rate of 10.0% per annum, in the event we fail to satisfy our obligations to redeem the Preferred Stock in specified circumstances. For the year ended January 31, 2022, we paid $12.9 million of preferred stock dividends, of which $5.2 million was accrued as of January 31, 2021, and there were $12.1 million of cumulative unpaid preferred stock dividends at January 31, 2022, of which $10.4 million was declared and recorded within accrued expenses and other liabilities on our consolidated balance sheet as of January 31, 2022. We reflected $18.9 million and $7.7 million of preferred stock dividends in our consolidated results of operations, for purposes of computing net (loss) income attributable to Verint Systems Inc. common shares, for the years ended January 31, 2022 and 2021. Conversion The Series A Preferred Stock was convertible into common stock at the election of the holder, subject to certain conditions, at an initial conversion price of $53.50 per share. The initial conversion price represented a conversion premium of 17.1% over the volume-weighted average price per share of our common stock over the 45 consecutive trading days immediately prior to the date of the Investment Agreement. In accordance with the Investment Agreement, the Series A Preferred Stock did not participate in the Spin-Off distribution of the Cognyte shares, which occurred on February 1, 2021, and the Series A conversion price was instead adjusted to $36.38 per share based on the ratio of the relative trading prices of Verint and Cognyte following the Spin-Off. The Series B Preferred Stock is convertible at a conversion price of $50.25, based in part on our trading price over the 20 day trading period following the Spin-Off. As of January 31, 2022, the maximum number of shares of common stock that could be required to be issued upon conversion of the outstanding shares of Preferred Stock was approximately 9.8 million shares and Apax’s ownership in us on an as-converted basis was approximately 12.9%. At any time after 36 months following the Applicable Closing Date, we will have the option to require that all (but not less than all) of the then-outstanding shares of Preferred Stock of the series convert into common stock if the volume-weighted average price per share of the common stock for at least 30 trading days in any 45 consecutive trading day period exceeds 175% of the then-applicable conversion price of such series (a “Mandatory Conversion”). We may redeem any or all of the Preferred Stock of a series for cash at any time after the 72-month anniversary of the Applicable Closing Date at a redemption price equal to 100% of the liquidation preference of the shares of the Preferred Stock, plus any accrued and unpaid dividends to, but excluding, the redemption date, plus a make-whole amount designed to allow the Apax Investor to earn a total 8.0% internal rate of return on such shares. The Apax Investor has agreed to restrictions on its ability to dispose of shares of the Preferred Stock until the earlier of (1) the 36-month anniversary of the Series A Closing Date or (2) the 24-month anniversary of the consummation of the Spin-Off (the “Preferred Stock Restricted Period”). Following the Preferred Stock Restricted Period, the Preferred Stock may not be sold or transferred without the prior written consent of the Company. The Apax Investor has also agreed to restrictions on its ability to dispose of the common stock issued upon conversion of the Preferred Stock. The common stock may not be disposed of until the earlier of (1) the 12-month anniversary of consummation of the Spin-Off or (2) the 24-month anniversary of the Series A Closing Date. These restrictions do not apply to certain transfers to one or more permitted co-investors or transfers or pledges of the Preferred Stock or common stock pursuant to the terms of specified margin loans to be entered into by the Apax Investor as well as transfers effected pursuant to a merger, consolidation, or similar transaction consummated by us and transfers that are approved by our board of directors. At any time after the 102-month anniversary of the Applicable Closing Date or upon the occurrence of a change of control triggering event (as defined in the Certificates of Designation), the holders of the applicable series of Preferred Stock will have the right to cause us to redeem all of the outstanding shares of Preferred Stock for cash at a redemption price equal to 100% of the liquidation preference of the shares of such series, plus any accrued and unpaid dividends to, but excluding, the redemption date. Therefore, the Preferred Stock has been classified as temporary equity on our consolidated balance sheets as of January 31, 2022 and 2021, separate from permanent equity, as the potential required repurchase of the Preferred Stock, however remote in likelihood, is not solely under our control. As of January 31, 2022, the Preferred Stock was not redeemable, and we have concluded that it is currently not probable of becoming redeemable, including from the occurrence of a change in control triggering event. The holders’ redemption rights which occur at the 102-month anniversary of the Applicable Closing Date are not considered probable because there is a more than remote likelihood that the Mandatory Conversion may occur prior to such redemption rights. We therefore did not adjust the carrying amount of the Preferred Stock to its current redemption amount, which was its liquidation preference, at January 31, 2022 plus accrued and unpaid dividends. As of January 31, 2022, the stated value of the liquidation preference for each series of Preferred Stock was $200.0 million and cumulative, unpaid dividends on the Series A Preferred Stock and the Series B Preferred Stock were $6.1 million and $6.1 million, respectively. Future Tranche Right We determined that our obligation to issue and the Apax Investor’s obligation to purchase 200,000 shares of the Series B Preferred Stock in connection with the completion of the Spin-Off and the satisfaction of other customary closing conditions (the “Future Tranche Right”) met the definition of a freestanding financial instrument as the Future Tranche Right is legally detachable and separately exercisable from the Series A Preferred Stock. At issuance, we allocated a portion of the proceeds from the issuance of the Series A Preferred Stock to the Future Tranche Right based upon its fair value at such time, with the remaining proceeds being allocated to the Series A Preferred Stock. The Future Tranche Right was remeasured at fair value each reporting period until the settlement of the right (at the time of the issuance of the Series B Preferred Stock), and changes in its fair value have been recognized as a non-cash charge or benefit within other income (expense), net on the consolidated statement of operations. At the Series A Closing Date, the Future Tranche Right was recorded as an asset of $3.4 million, as the purchase price of the Series B Preferred Stock was greater than its estimated fair value at the expected settlement date. This resulted in a $203.4 million carrying value, before direct and incremental issuance costs, for the Series A Preferred Stock. Immediately prior to the issuance of the Series B Preferred Stock, the Future Tranche Right was remeasured to fair value and as a result we recorded a non-cash benefit of $15.8 million related to the change in fair value of the Future Tranche Right for the three months ended April 30, 2021, within other income (expense), net. Upon the issuance of the Series B Preferred Stock in April 2021, the Future Tranche Right was settled, resulting in a reclassification of the $37.0 million fair value of the Future Tranche Right liability at that time to the carrying value of the Series B Preferred Stock. This resulted in a $237.0 million carrying value, before direct and incremental issuance costs, for the Series B Preferred Stock. As a result of the issuance of the Series B Preferred Stock, we no longer recognize changes in the fair value of the Future Tranche Right in our consolidated statement of operations. For the year ended January 31, 2021, we recognized non-cash charges of $56.1 million within other income (expense), net in the consolidated statement of operations for the change in the fair value of the Future Tranche Right. Please refer to Note 14, “Fair Value Measurements” for additional information regarding valuations of the Future Tranche Right.

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 31, 2022

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Common Stock Dividends

We did not declare or pay any cash dividends on our common stock during the years ended January 31, 2022, 2021, and 2020. Under the terms of our 2017 Credit Agreement, we are subject to certain restrictions on declaring and paying cash dividends on our common stock.

In connection with the Spin-Off, each holder of Verint’s common stock received one ordinary share of Cognyte for every share of common stock of Verint held of record as of the close of business on January 25, 2021.

Stock Repurchase Programs

On December 4, 2019, we announced that our board of directors had authorized a stock repurchase program whereby we were authorized to repurchase up to $300.0 million of common stock over the period ending on February 1, 2021. We made $34.0 million and $116.1 million in repurchases under the program during the years ended January 31, 2021 and January 31, 2020, respectively. This program expired on February 1, 2021.

On March 31, 2021, we announced that our board of directors had authorized a stock repurchase program whereby we were authorized to repurchase up to a number of shares of common stock approximately equal to the number of shares to be issued as equity compensation during the fiscal year ending January 31, 2022. During the three months ended April 30, 2021, we repurchased 1,600,000 shares of our common stock at a cost of $75.4 million under this program. There were no repurchases under this program subsequent to April 30, 2021, and this program expired on January 31, 2022.

On December 2, 2021, we announced that our board of directors had authorized a new stock repurchase program for the fiscal year ending January 31, 2023 whereby we may repurchase up to 1.5 million shares of common stock to offset dilution from our equity compensation program for such fiscal year. Subsequent to January 31, 2022, through the date of filing this report, we repurchased 1,500,000 shares of our common stock for $78.2 million under this program. Repurchases were financed with available cash in the United States. On March 22, 2022, our board of directors authorized an additional 500,000 shares of common stock to be repurchased under this program. Please refer to Note 21, “Subsequent Event”, for more information regarding this stock repurchase program.

Treasury Stock

From time to time, our board of directors has approved limited programs to repurchase shares of our common stock from directors or officers in connection with the vesting of restricted stock or restricted stock units to facilitate required income tax withholding by us or the payment of required income taxes by such holders. In addition, the terms of some of our equity award agreements with all grantees provide for automatic repurchases by us for the same purpose if a vesting-related or delivery-related tax event occurs at a time when the holder is not permitted to sell shares in the market. Our stock bonus program contains similar terms. Any such repurchases of common stock occur at prevailing market prices and are recorded as treasury stock.

Repurchased shares of common stock are typically recorded as treasury stock, at cost, but may from time to time be retired. We periodically purchase common stock from our directors, officers, and other employees to facilitate income tax withholding by us or the payment of required income taxes by such holders in connection with the vesting of equity awards. When treasury shares are reissued, they are recorded at the average cost of the treasury shares acquired.

During the three months ended July 31, 2021, in connection with the maturity of our 2014 Notes, we issued approximately 1,250,000 treasury shares with an average cost of $47.30 per share to the holders of the 2014 Notes in satisfaction of the conversion premium, which was recorded as a $59.1 million reduction of treasury stock and additional paid-in capital. Additionally, we received approximately 1,250,000 shares of our common stock having a value of $57.7 million from the counterparties under the Note Hedges, as well as approximately 42,000 shares of our common stock having a value of $2.0 million from the counterparties related to the reimbursement for the in-the-money portion of the Repurchased 2014 Notes under the Note Hedge agreements, which was recorded as increase to treasury stock and additional paid-in capital.

During the year ended January 31, 2022, we repurchased approximately 1,613,000 shares of our common stock for a cost of $76.0 million, which includes $75.4 million of share repurchased under the 2021 share repurchase program described above, and other repurchases to facilitate income tax withholding upon vesting of equity awards. On March 30, 2021, our board of directors approved the retirement of such repurchased shares of common stock and any other shares held as treasury stock, at management’s discretion. During the year ended January 31, 2022, we retired 1,058,300 shares of our common stock with a cost of $49.6 million that had been repurchased under the 2021 share repurchase program described above, as well as all of our common stock held as treasury stock, which totaled 5,000,786 shares, and restored them to the status of authorized and unissued shares. The aggregate cost of the treasury stock retired was $235.0 million, which was recorded as a reduction of common stock and additional paid-in capital.

During the year ended January 31, 2021 we repurchased 613,000 shares of our common stock for a cost of $34.0 million under the 2019 share repurchase program described above. During the year ended January 31, 2020, we repurchased approximately 2,126,000 shares of our common stock for a cost of $116.5 million, which included $116.1 million of share repurchases under the December 2019 stock repurchase program described above and other purchases to facilitate income tax withholding upon vesting of equity awards.

At January 31, 2021, we held approximately 4,404,000 shares of treasury stock with a cost of $208.1 million.

Issuance of Convertible Preferred Stock

On December 4, 2019, in conjunction with the planned separation of our businesses into two independent publicly traded companies, we announced that an affiliate of Apax Partners would invest up to $400.0 million in us, in the form of convertible preferred stock. Under the terms of the Investment Agreement, the Apax Investor purchased $200.0 million of our Series A Preferred Stock, which closed on May 7, 2020. In connection with the completion of the Spin-Off, the Apax Investor purchased $200.0 million of our Series B Preferred Stock, which closed on April 6, 2021. As of January 31, 2022, Apax’s ownership in us on an as-converted basis was approximately 12.9%. Please refer to Note 10, “Convertible Preferred Stock” for a more detailed discussion of the Apax investment.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) includes items such as foreign currency translation adjustments and unrealized gains and losses on certain marketable securities and derivative financial instruments designated as hedges. Accumulated other comprehensive income (loss) is presented as a separate line item in the stockholders’ equity section of our consolidated balance sheets. Accumulated other comprehensive income (loss) items have no impact on our net income (loss) as presented in our consolidated statements of operations.

The following table summarizes changes in the components of our accumulated other comprehensive income (loss) by component for the years ended January 31, 2022 and 2021:


(in thousands)	Unrealized Gains (Losses) on Foreign Exchange Contracts Designated as Hedges		Unrealized Losses on Interest Rate Swap Designated as Hedge		Foreign Currency Translation Adjustments		Total
Accumulated other comprehensive income (loss) at January 31, 2020	$	626	$	(10,528)	$	(141,963)	$	(151,865)
Other comprehensive income (loss) before reclassifications	1,869		(5,916)		17,482		13,435
Amounts reclassified out of accumulated other comprehensive income (loss) from continuing operations	225		(3,413)		—		(3,188)
Amounts reclassified out of accumulated other comprehensive income (loss) from discontinued operations	1,636		—		—		1,636
Net other comprehensive income (loss)	8		(2,503)		17,482		14,987
Accumulated other comprehensive income (loss) at January 31, 2021	634		(13,031)		(124,481)		(136,878)
Distribution of Cognyte Software Ltd.	(559)		—		17,682		17,123
Other comprehensive income (loss) before reclassifications	70		—		(11,668)		(11,598)
Amounts reclassified out of accumulated other comprehensive income (loss)	193		(1,014)		—		(821)
Amounts reclassified upon partial early retirement of the 2017 Term Loan	—		(12,017)		—		(12,017)
Net other comprehensive (loss) income	(682)		13,031		6,014		18,363
Accumulated other comprehensive loss at January 31, 2022	$	(48)	$	—	$	(118,467)	$	(118,515)

All amounts presented in the table above are net of income taxes, if applicable. The accumulated net losses in foreign currency translation adjustments primarily reflect the strengthening of the U.S. dollar against the British pound sterling, which has resulted in lower U.S. dollar-translated balances of British pound sterling-denominated goodwill and intangible assets.

On May 1, 2020, our interest rate swap agreement no longer qualified as a cash flow hedge for accounting purposes and as such, accumulated deferred losses on our interest rate swap that were previously recorded as a component of accumulated other comprehensive loss were being reclassified to the consolidated statement of operations as interest expense over the remaining term of the interest rate swap, as the previously hedged interest payments occurred. On April 13, 2021, we paid $16.5 million to the counterparty to settle the interest rate swap agreement prior to its June 2024 maturity, and reclassified the remaining $15.7 million of pretax accumulated deferred losses from accumulated other comprehensive loss within stockholders’ equity to other income (expense) on our consolidated statement of operations for the year ended January 31, 2022. The associated $3.7 million deferred tax asset was reclassified from accumulated other comprehensive loss and netted against income taxes receivable, which are included within prepaid expenses and other current assets on our consolidated balance sheet as of January 31, 2022. Please refer to Note 15, “Derivative Financial Instruments” for further information regarding our interest rate swap agreement.

The amounts reclassified out of accumulated other comprehensive income (loss) into the consolidated statement of operations, with presentation location, for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,						Financial Statement Location
(in thousands)	2022		2021		2020
Unrealized gains (losses) on derivative financial instruments:
Foreign currency forward contracts	$	1	$	1	$	(3)	Cost of recurring revenue
	24		28		5		Cost of nonrecurring revenue
	142		182		42		Research and development, net
	65		56		20		Selling, general and administrative
	232		267		64		Total, before income taxes
	(39)		(42)		(6)		Provision for income taxes
	$	193	$	225	$	58	Total, net of income taxes

Interest rate swap agreement	$	(1,014)	$	(4,367)	$	(792)	Interest expense
	(15,655)		—		—		Other income (expense), net
	(16,669)		(4,367)		(792)		Total, before income taxes
	3,638		954		175		Benefit from income taxes
	$	(13,031)	$	(3,413)	$	(617)	Total, net of income taxes

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

RESEARCH AND DEVELOPMENT, NET

12 Months Ended

Jan. 31, 2022

Research and Development [Abstract]

RESEARCH AND DEVELOPMENT, NET

Our gross research and development expenses for the years ended January 31, 2022, 2021, and 2020, were $123.3 million, $128.2 million, and $134.2 million, respectively.

We capitalize certain costs incurred to develop our commercial software products, and we then recognize those costs within cost of revenue as the products are sold. Activity for our capitalized software development costs for the years ended January 31, 2022, 2021, and 2020 was as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Capitalized software development costs, net, beginning of year	$	19,250	$	15,351	$	7,266
Software development costs capitalized during the year	7,560		7,312		9,584
Amortization of capitalized software development costs	(4,247)		(3,304)		(1,538)
Write-offs of capitalized software development costs	—		(129)		—
Foreign currency translation and other	(80)		20		39
Capitalized software development costs, net, end of year	$	22,483	$	19,250	$	15,351

During the year ended January 31, 2021, we recorded an impairment charge of $0.1 million in nonrecurring cost of revenue, reflecting the write-off of previously capitalized software development costs that were deemed non-recoverable based on our expectations of future market conditions. There were no impairments of such capitalized costs during the years ended January 31, 2022 and 2020.

INCOME TAXES

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of income (loss) before provision for income taxes for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Domestic	$	(12,492)	$	127,909	$	(46,896)
Foreign	51,996		(169,573)		7,329
Total income (loss) before provision for income taxes	$	39,504	$	(41,664)	$	(39,567)

The provision for income taxes from continuing operations for the years ended January 31, 2022, 2021, and 2020 consisted of the following:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Current provision for income taxes:
Federal	$	3,215	$	373	$	7,204
State	1,121		1,663		974
Foreign	30,840		6,299		3,049
Total current provision for income taxes	35,176		8,335		11,227
Deferred provision for (benefit from) income taxes:
Federal	6,714		1,366		(4,430)
State	255		(188)		862
Foreign	(18,292)		(2,576)		(716)
Total deferred benefit from income taxes	(11,323)		(1,398)		(4,284)
Total provision for income taxes from continuing operations	$	23,853	$	6,937	$	6,943

Intra-period allocation rules require us to allocate our provision for income taxes between continuing operations and other categories such as discontinued operations or comprehensive income (loss). As described in Note 2, “Discontinued Operations”, the results of Cognyte have been reported as discontinued operations for all periods presented.

The reconciliation of the U.S. federal statutory rate to our effective tax rate on income (loss) before provision for income taxes from continuing operations for the years ended January 31, 2022, 2021, and 2020 was as follows:


	Year Ended January 31,
(in thousands)	2022			2021			2020
U.S. federal statutory income tax rate	21.0		%	21.0		%	21.0		%

Income tax provision (benefit) at the U.S. federal statutory rate	$	8,296		$	(8,733)		$	(8,307)
State income tax (benefit) provision	(1,238)			2,017			106
Foreign tax rate differential	6,262			5,992			10,134
Tax incentives	(6,378)			(2,681)			(6,224)
Valuation allowances	2,616			(3,269)			2,311
Stock-based and other compensation	897			2,958			(926)
Non-deductible expenses	(238)			(1,007)			1,127
Tax credits	117			875			266
Tax contingencies	2,108			(5,652)			161
Change in fair value of future tranche right	(3,320)			11,791			—
Changes in tax laws	1,552			—			—
U.S. tax effects of foreign operations	13,480			3,828			8,299
Other, net	(301)			818			(4)
Total provision for income taxes	$	23,853		$	6,937		$	6,943
Effective income tax rate	60.4		%	(16.6)		%	(17.5)		%

Change in the effective tax rate from the prior year to the current year presentation are due to the allocation of tax expense between continuing operations and discontinued operations when applying intra-period allocation rules.

Our operations in Israel have been granted “Approved Enterprise” (“AE”) status by the Investment Center of the Israeli Ministry of Industry, Trade and Labor, which makes us eligible for tax benefits under the Israeli Law for Encouragement of Capital Investments, 1959. Under the terms of the program, income attributable to an approved enterprise is exempt from income tax for a period of two years and is subject to a reduced income tax rate for the subsequent five years to eight years (generally 10% - 23%, depending on the percentage of foreign investment in the company). Our AE status remained in effect through January 31, 2020. Beginning January 31, 2021, based on the current law, the company qualifies for an alternative tax incentive program as a Preferred Technological Enterprise (“PTE”). Pursuant to Amendment 73 to the Investment Law adopted in 2017, a company located in the Center of Israel that meets the conditions for PTE is subject to a 12% tax rate on eligible income. Income not eligible for PTE benefits is taxed at the regular corporate rate of 23%, excluding income derived from manufacturing activity which is entitled to tax benefits according to the “Preferred Enterprise” regime. Income eligible for tax benefits under the Preferred Enterprise regime is taxed at 16%.

In total, tax incentives decreased our effective tax rate by 16.1% for the year ended January 31, 2022, and increased our effective tax rate by 6.4%, and 15.8% for the years ended January 31, 2021, and 2020, respectively. The negative benefits are a result of taxable losses in Israel on a continuing operations basis in prior years.

Deferred tax assets and liabilities from continuing operations consisted of the following at January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Deferred tax assets:
Accrued expenses	$	4,464	$	5,383
Operating lease liabilities	9,275		11,040
Fair value of derivatives	—		4,149
Loss carryforwards	21,764		17,672
Tax credits	5,780		5,946
Stock-based and other compensation	6,802		7,434
Total deferred tax assets	48,085		51,624
Deferred tax liabilities:
Deferred cost of revenue	(8,457)		(5,100)
Goodwill and other intangible assets	(20,810)		(29,876)
Unremitted earnings of foreign subsidiaries	(970)		(14,882)
Operating lease right-of-use assets	(4,959)		(8,569)
Other, net	(1,547)		(2,140)
Total deferred tax liabilities	(36,743)		(60,567)
Valuation allowance	(20,711)		(16,761)
Net deferred tax liabilities	$	(9,369)	$	(25,704)

Recorded as:
Deferred tax assets	$	8,091	$	7,287
Deferred tax liabilities	(17,460)		(32,991)
Net deferred tax liabilities	$	(9,369)	$	(25,704)

At January 31, 2022, we had U.S. federal NOL carryforwards of approximately $309.1 million. Except for $13.1 million of NOLs that can be carried forward indefinitely, these loss carryforwards expire in various years ending from January 31, 2023 to January 31, 2037. We had state NOL carryforwards of approximately $206.7 million. Except for $2.4 million of NOLs that can be carried forward indefinitely, those loss carryforwards expire in various years ending from January 31, 2023 to January 31, 2040. We had foreign NOL carryforwards of approximately $33.1 million. At January 31, 2022, all but $2.9 million of these foreign loss carryforwards had indefinite carryforward periods. Certain of these federal, state, and foreign loss carryforwards and credits are subject to Internal Revenue Code Section 382 or similar provisions, which impose limitations on their utilization following certain changes in ownership of the entity generating the loss carryforward. We had U.S. federal, state, and foreign tax credit carryforwards of approximately $8.9 million at January 31, 2022, the utilization of which is subject to limitation. At January 31, 2022, approximately $2.7 million of these tax credit carryforwards may be carried forward indefinitely. The balance of $6.2 million expires in various years ending from January 31, 2023 to January 31, 2037.

We currently intend to continue to indefinitely reinvest a portion of the earnings of our foreign subsidiaries to finance foreign activities. Except to the extent that earnings of our foreign subsidiaries have been subject to U.S. taxation as of January 31, 2022 and withholding taxes of $1.0 million accrued as of January 31, 2022 with respect to certain identified cash that may be repatriated to the United States, we have not provided tax on the outside basis difference of foreign subsidiaries nor have we provided for any additional withholding or other tax that may be applicable should a future distribution be made from any unremitted earnings of foreign subsidiaries. Due to complexities in the laws of the foreign jurisdictions and the assumptions that would have to be made, it is not practicable to estimate the total amount of income and withholding taxes that would have to be provided on such earnings.

As required by the authoritative guidance on accounting for income taxes, we evaluate the realizability of deferred income tax assets on a jurisdictional basis at each reporting date. Accounting for income taxes guidance requires that a valuation allowance be established when it is more-likely-than-not that all or a portion of the deferred income tax assets will not be realized. In circumstances where there is sufficient negative evidence indicating that the deferred income tax assets are not more-likely-than- not realizable, we establish a valuation allowance. We determined that there is sufficient negative evidence to maintain

the valuation allowances against certain state and foreign deferred income tax assets as a result of historical losses in the most recent three-year period in certain state and foreign jurisdictions. We intend to maintain valuation allowances until sufficient positive evidence exists to support a reversal. We have recorded valuation allowances in the amounts of $20.7 million and $16.8 million at January 31, 2022 and 2021, respectively.

Activity in the recorded valuation allowance consisted of the following for the years ended January 31, 2022 and 2021:


	Year Ended January 31,
(in thousands)	2022		2021
Valuation allowance, beginning of year	$	(16,761)	$	(19,512)
Income tax (provision) benefit	(2,616)		3,269
Fair value of derivatives and convertible debt instruments	(1,139)		—
Currency translation adjustment and other	(195)		(518)
Valuation allowance, end of year	$	(20,711)	$	(16,761)

In accordance with the authoritative guidance on accounting for uncertainty in income taxes, differences between the amount of tax benefits taken or expected to be taken in our income tax returns and the amount of tax benefits recognized in our financial statements, determined by applying the prescribed methodologies of accounting for uncertainty in income taxes, represent our unrecognized income tax benefits, which we either record as a liability or as a reduction of deferred tax assets.

For the years ended January 31, 2022, 2021, and 2020, the aggregate changes in the balance of gross unrecognized tax benefits were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Gross unrecognized tax benefits, beginning of year	$	84,847	$	85,327	$	86,312
Increases related to tax positions taken during the current year	672		706		575
Increases related to tax positions taken during prior years	430		—		147
Increases related to foreign currency exchange rates	45		136		146
Reductions for tax positions of prior years	(152)		(193)		(1,555)
Lapses of statutes of limitations	(1,613)		(1,129)		(298)
Gross unrecognized tax benefits, end of year	$	84,229	$	84,847	$	85,327

We had unrecognized income tax benefits of $84.2 million (excluding interest and penalties) as of January 31, 2022, that, if recognized, would impact the effective income tax rate. We recorded $0.5 million, $0.4 million, and $0.2 million of tax expense for interest and penalties related to uncertain tax positions in our provision for income taxes for the years ended January 31, 2022, 2021, and 2020, respectively. The accrued liability for interest and penalties was $3.4 million and $3.0 million at January 31, 2022 and 2021, respectively. Interest and penalties are recorded as a component of the provision for income taxes in the consolidated statements of operations.

Our income tax returns are subject to ongoing tax examinations in several jurisdictions in which we operate. In the United Kingdom, with the exception of years which are currently under examination, we are no longer subject to income tax examination for years prior to January 31, 2019. In the United States, our federal returns are no longer subject to income tax examination for years prior to January 31, 2019. However, to the extent we generated NOLs or tax credits in closed tax years, future use of the NOL or tax credit carry forward balance would be subject to examination within the relevant statute of limitations for the year in which utilized.

As of January 31, 2022, income tax returns are under examination in the following significant tax jurisdictions:


Jurisdiction						Tax Years
United Kingdom						December 31, 2006, January 31, 2008
India						March 31, 2008, March 31, 2010 - March 31, 2013, March 31, 2017, March 31, 2020
Israel						January 31, 2018 - January 31, 2020

We regularly assess the adequacy of our provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes. As a result, we may adjust the reserves for unrecognized income tax benefits for the impact of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities, and lapses of statutes of limitation. Further, we believe that it is reasonably

possible that the total amount of unrecognized income tax benefits at January 31, 2022 could decrease by approximately $0.3 million in the next twelve months as a result of settlement of certain tax audits or lapses of statutes of limitation. Such decreases may involve the payment of additional income taxes, the adjustment of deferred income taxes including the need for additional valuation allowances, and the recognition of income tax benefits. Our income tax returns are subject to ongoing tax examinations in several jurisdictions in which we operate. We also believe that it is reasonably possible that new issues may be raised by tax authorities or developments in tax audits may occur, which would require increases or decreases to the balance of reserves for unrecognized income tax benefits; however, an estimate of such changes cannot reasonably be made. See Note 2, “Discontinued Operations” for discussion related to the Tax Matters Agreement entered into between us and Cognyte as a result of the Spin-Off.

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was enacted and signed into U.S. law to provide economic relief to individuals and businesses facing economic hardship as a result of the COVID-19 pandemic. The income tax provisions of the CARES Act do not have a significant impact on our current taxes, deferred taxes, or uncertain tax positions. However, we deferred the timing of employer payroll taxes and accelerated the refund of AMT credits as permitted by the CARES Act.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Jan. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Our assets and liabilities measured at fair value on a recurring basis consisted of the following as of January 31, 2022 and 2021:


	January 31, 2022
	Fair Value Hierarchy Category
(in thousands)	Level 1		Level 2		Level 3
Assets:
Money market funds	$	127,041	$	—	$	—
Commercial paper, classified as cash and cash equivalents	—		29,995		—
Foreign currency forward contracts	—		33		—
Contingent consideration receivable	—		—		271
Total assets	$	127,041	$	30,028	$	271
Liabilities:
Foreign currency forward contracts	$	—	$	91	$	—
Contingent consideration — business combinations	—		7,776		—
Total liabilities	$	—	$	7,867	$	—


	January 31, 2021
	Fair Value Hierarchy Category
(in thousands)	Level 1		Level 2		Level 3
Assets:
Money market funds	$	342,090	$	—	$	—
Foreign currency forward contracts	—		136		—
Contingent consideration receivable	—		—		565
Total assets	$	342,090	$	136	$	565
Liabilities:
Foreign currency forward contracts	$	—	$	48	$	—
Interest rate swap agreements	—		17,881		—
Future tranche right	—		—		52,772
Contingent consideration — business combinations	—		—		15,704
Option to acquire noncontrolling interests of consolidated subsidiaries	—		—		3,250
Total liabilities	$	—	$	17,929	$	71,726

We evaluated the Future Tranche Right associated with the Series A Preferred Stock issued on May 7, 2020 and determined that the Future Tranche Right was a freestanding financial instrument. The Future Tranche Right was initially recorded as an

asset and was re-measured at each reporting period until the redemption feature was exercised in connection with the sale and issuance of the Series B Preferred Stock on April 6, 2021. Immediately prior to the issuance of the Series B Preferred Stock, the Future Tranche Right was remeasured to fair value with the change in fair value recognized as a component of other income (expense). Upon the issuance of the Series B Preferred Stock, the Future Tranche Right liability was settled, resulting in a reclassification of the $37.0 million fair value of the Future Tranche Right liability at that time to the carrying value of the Series B Preferred Stock. Please refer to Note 10, “Convertible Preferred Stock” for additional information regarding the Future Tranche Right and preferred stock investment.

The following table presents the changes in the estimated fair value of the Future Tranche Right measured using significant unobservable inputs (Level 3) for the years ended January 31, 2022 and 2021.


	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	(52,772)	$	—
Fair value of future tranche right upon issuance of the Series A Preferred Stock	—		3,374
Change in fair value, recorded in other income (expense), net	15,810		(56,146)
Reclassification of future tranche right liability upon settlement	36,962		—
Fair value measurement, end of year	$	—	$	(52,772)

In January 2020, we completed the sale of an insignificant subsidiary. In accordance with the terms of the sale agreement, 100% of the aggregate purchase price is contingent in nature based on a percentage of net sales of the former subsidiary’s products during the thirty-six month period following the transaction closing. We include the fair value of the contingent consideration receivable within prepaid expenses and other current assets and other assets on our consolidated balance sheets. The estimated fair value of this asset as of January 31, 2022, which is measured using Level 3 inputs, was $0.3 million. We received payments of $0.3 million, and the change in the estimated fair value of this contingent receivable was not material, during the year ended January 31, 2022. The estimated fair value of this asset as of January 31, 2021 was $0.6 million. We received payments of $0.1 million, and the change in the estimated fair value of this contingent receivable was not material, during the year ended January 31, 2021. Due to the timing of this transaction, there was no change to the estimated fair value of this receivable recorded in operating expenses for the year ended January 31, 2020.

The following table presents the changes in the estimated fair values of our liabilities for contingent consideration measured using significant unobservable inputs (Level 3) for the years ended January 31, 2022 and 2021:



	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	15,704	$	31,367
Contingent consideration liabilities recorded for business combinations	900		—
Changes in fair values, recorded in operating expenses	883		(806)
Payments of contingent consideration	(9,560)		(15,183)
Foreign currency translation and other	(151)		326
Transfer of contingent consideration liability to Level 2 of the fair value hierarchy	(7,776)		—
Fair value measurement, end of year	$	—	$	15,704

Our estimated liability for contingent consideration represents potential payments of additional consideration for business combinations, payable if certain defined performance goals are achieved. Changes in fair value of contingent consideration are recorded in the consolidated statements of operations within selling, general and administrative expenses.

On January 31, 2022, we exercised an option to acquire the noncontrolling interests in two majority owned subsidiaries. Prior to the exercise, we accounted for the option as an in-substance investment in the noncontrolling common stock of each such subsidiary. We included the fair value of the option within accrued expenses and other current liabilities and did not recognize noncontrolling interests in these subsidiaries.

The following table presents the change in the estimated fair value of this liability, which is measured using Level 3 inputs, for the years ended January 31, 2022 and 2021:



	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	3,250	$	2,900
Change in fair value, recorded in operating expenses	1,245		350
Amount paid upon exercise of option to acquire noncontrolling interests of consolidated subsidiaries	(4,495)		—
Fair value measurement, end of year	$	—	$	3,250

On April 13, 2021, we paid $16.5 million to the counterparty to settle the interest rate swap agreement prior to its June 2024 maturity, and reclassified the remaining $15.7 million of pretax accumulated deferred losses from accumulated other comprehensive loss within stockholders’ equity to other income (expense), net on our consolidated statement of operations for the year ended January 31, 2022. The associated $3.7 million deferred tax asset was reclassified from accumulated other comprehensive loss and netted against income taxes receivable, which are included within prepaid expenses and other current assets on our consolidated balance sheet as of January 31, 2022. Please refer to Note 15, “Derivative Financial Instruments” for further information regarding our interest rate agreement.

Fair Value Measurements

Money Market Funds - We value our money market funds using quoted active market prices for such funds.

Short-term Investments, Corporate Debt Securities, and Commercial Paper - The fair values of short-term investments, as well as corporate debt securities and commercial paper classified as cash equivalents, are estimated using observable market prices for identical securities that are traded in less-active markets, if available. When observable market prices for identical securities are not available, we value these short-term investments using non-binding market price quotes from brokers which we review for reasonableness using observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model.

Foreign Currency Forward Contracts - The estimated fair value of foreign currency forward contracts is based on quotes received from the counterparties thereto. These quotes are reviewed for reasonableness by discounting the future estimated cash flows under the contracts, considering the terms and maturities of the contracts and market foreign currency exchange rates using readily observable market prices for similar contracts.

Future Tranche Right - The fair value of the Future Tranche Right was classified within Level 3 of the fair value hierarchy because it was valued using pricing models that incorporate management assumptions that cannot be corroborated with observable market data. The fair value of the Future Tranche Right was estimated using a binomial tree model to estimate the value of the Series B Preferred Stock and a Monte Carlo simulation to estimate our stock price post-Spin-Off, which we believe was reflective of all significant assumptions that market participants would likely consider in negotiating the transfer of the Future Tranche Right. The fair value of the Future Tranche Right also reflected the likelihood of the Series B Preferred Stock being issued, which management considered to be highly probable for all periods the Future Tranche Right was outstanding.

Significant inputs and assumptions used in the valuation model immediately prior to the settlement date, April 6, 2021, and as of January 31, 2021, are as follows:


	April 6,			January 31,
	2021			2021
Risk-free interest rate for preferred stock	2.35		%	1.86		%
Implied credit spread	6.78		%	6.78		%
Expected volatility	30.00		%	30.00		%
Verint common stock price	$	45.91		$	73.83

Interest Rate Swap Agreement - The fair value of our interest rate swap agreement was based in part on data received from the counterparty, and represented the estimated amount we would receive or pay to settle the agreement, taking into consideration current and projected future interest rates as well as the creditworthiness of the parties, all of which can be validated through readily observable data from external sources.

Contingent Consideration Assets and Liabilities - Business Combinations and Divestitures - The fair value of the contingent consideration related to business combinations and divestitures is estimated using a probability-adjusted discounted cash flow

model. These fair value measurements are based on significant inputs not observable in the market. The key internally developed assumptions used in these models are discount rates and the probabilities assigned to the milestones to be achieved. We remeasure the fair value of the contingent consideration at each reporting period, and any changes in fair value resulting from either the passage of time or events occurring after the acquisition date, such as changes in discount rates, or in the expectations of achieving the performance targets, are recorded within selling, general, and administrative expenses. Increases or decreases in discount rates would have inverse impacts on the related fair value measurements, while favorable or unfavorable changes in expectations of achieving performance targets would result in corresponding increases or decreases in the related fair value measurements. We utilized discount rates ranging from 3.3% to 3.8%, with a weighted average discount rate of 3.5% in our calculations of the estimated fair values of our contingent consideration liabilities as of January 31, 2021. We utilized discount rates ranging from 3.5% to 3.9%, with a weighted average discount rate of 3.7%, in our calculation of the estimated fair value of our contingent consideration assets as of January 31, 2022. We utilized discount rates ranging from 3.3% to 4.0%, with a weighted average discount rate of 3.7% in our calculation of the estimated fair value of our contingent consideration assets as of January 31, 2021.

As of January 31, 2022, the $7.8 million fair value of the contingent consideration liability was based on actual achievement through the performance periods ended January 31, 2022, and was transferred to Level 2 of the fair value hierarchy as the fair value was determined based on other significant observable inputs.

Option to Acquire Noncontrolling Interests of Consolidated Subsidiaries - The fair value of the option was determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. This fair value measurement is based upon significant inputs not observable in the market. We remeasured the fair value of the option at each reporting period, and any changes in fair value were recorded within selling, general, and administrative expenses. We utilized a discount rate of 8.5% in our calculation of the estimated fair value of the option as of January 31, 2021.

Other Financial Instruments

The carrying amounts of accounts receivable, contract assets, accounts payable, and accrued liabilities and other current liabilities approximate fair value due to their short maturities.

The estimated fair values of our term loan borrowings were approximately $100 million and $409 million at January 31, 2022 and 2021, respectively. The estimated fair values of the term loans are based upon indicative bid and ask prices as determined by the agent responsible for the syndication of our term loans. We consider these inputs to be within Level 3 of the fair value hierarchy because we cannot reasonably observe activity in the limited market in which participation in our term loans are traded. The indicative prices provided to us as at each of January 31, 2022 and 2021 did not significantly differ from par value. The estimated fair value of our revolving credit borrowings, if any, is based upon indicative market values provided by one of our lenders.

The estimated fair value of our 2014 Notes, which matured in June 2021, was approximately $440 million at January 31, 2021. The estimated fair value of our 2021 Notes was approximately $330 million at January 31, 2022. The estimated fair values of the 2014 Notes and 2021 Notes were determined based on quoted bid and ask prices in the over-the-counter market in which the 2014 Notes and 2021 Notes traded. We consider these inputs to be within Level 2 of the fair value hierarchy.

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

In addition to assets and liabilities that are measured at fair value on a recurring basis, we also measure certain assets and liabilities at fair value on a nonrecurring basis. Our non-financial assets, including goodwill, intangible assets, operating lease right-of-use assets, and property, plant and equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. Further details regarding our regular impairment reviews appear in Note 1, “Summary of Significant Accounting Policies”.

As of January 31, 2022, the carrying amount of our noncontrolling equity investments in privately-held companies without readily determinable fair values was $5.1 million, of which $4.4 million was remeasured to fair value based on an observable transaction during the year ended January 31, 2022. These investments are included within other assets on the consolidated balance sheets. An unrealized gain of $3.1 million, which adjusted the carrying value of a noncontrolling equity investment based on an observable transaction was recorded in other income (expense), net on the consolidated statement of operations for the year ended January 31, 2022. As of January 31, 2021, the carrying amount of our noncontrolling equity investments in privately-held companies without readily determinable fair values was $2.0 million. There were no observable price changes in

our investments in privately-held companies during the year ended January 31, 2021. We did not recognize any impairments during the years ended January 31, 2022 and 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS

12 Months Ended

Jan. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

Our primary objective for holding derivative financial instruments is to manage foreign currency exchange rate risk and interest rate risk, when deemed appropriate. We enter into these contracts in the normal course of business to mitigate risks and not for speculative purposes.

Foreign Currency Forward Contracts

Under our risk management strategy, we periodically use foreign currency forward contracts to manage our short-term exposures to fluctuations in operational cash flows resulting from changes in foreign currency exchange rates. These cash flow exposures result from portions of our forecasted operating expenses, primarily compensation and related expenses, which are transacted in currencies other than the U.S. dollar, most notably the Israeli shekel. We also periodically utilize foreign currency forward contracts to manage exposures resulting from forecasted customer collections to be remitted in currencies other than the applicable functional currency, and exposures from cash, cash equivalents and short-term investments denominated in currencies other than the applicable functional currency. These foreign currency forward contracts generally have maturities of no longer than twelve months, although occasionally we will execute a contract that extends beyond twelve months, depending upon the nature of the underlying risk.

We held outstanding foreign currency forward contracts with notional amounts of $7.4 million and $6.6 million as of January 31, 2022 and 2021, respectively.

Interest Rate Swap Agreements

To partially mitigate risks associated with the variable interest rates on the term loan borrowings under the prior credit agreement, in February 2016, we executed a pay-fixed, receive-variable interest rate swap agreement with a multinational financial institution under which we paid interest at a fixed rate of 4.143% and received variable interest of three-month LIBOR (subject to a minimum of 0.75%), plus a spread of 2.75%, on a notional amount of $200.0 million (the “2016 Swap”). Although the prior credit agreement was terminated on June 29, 2017, the 2016 Swap agreement remained in effect until September 6, 2019, and served as an economic hedge to partially mitigate the risk of higher borrowing costs under our 2017 Credit Agreement resulting from increases in market interest rates. Settlements with the counterparty under the 2016 Swap occurred quarterly and the 2016 Swap matured on September 6, 2019.

On June 29, 2017, concurrent with the execution of the 2017 Credit Agreement and termination of the prior credit agreement, the 2016 Swap was no longer designated as a cash flow hedge for accounting purposes and because occurrence of the specific forecasted variable cash flows which had been hedged by the 2016 Swap was no longer probable, the $0.9 million fair value of the 2016 Swap at that date was reclassified from accumulated other comprehensive income (loss) into the consolidated statement of operations as income within other income (expense), net. Ongoing changes in the fair value of the 2016 Swap were recognized within other income (expense), net in the consolidated statement of operations.

In April 2018, we executed a pay-fixed, receive-variable interest rate swap agreement with a multinational financial institution to partially mitigate risks associated with the variable interest rate on our 2017 Term Loan for periods following the termination of the 2016 Swap in September 2019, under which we paid interest at a fixed rate of 2.949% and received variable interest of three-month LIBOR (subject to a minimum of 0.00%), on a notional amount of $200.0 million (the “2018 Swap”). The effective date of the 2018 Swap was September 6, 2019, and settlements with the counterparty began on November 1, 2019 and occurred on a quarterly basis. The 2018 Swap had a termination date of June 29, 2024.

Prior to May 1, 2020, the 2018 Swap was designated as a cash flow hedge for accounting purposes and as such, changes in its fair value were recognized in accumulated other comprehensive income (loss) in the consolidated balance sheet and were reclassified into the consolidated statement of operations within interest expense in the periods in which the hedged transactions affected earnings.

On May 1, 2020, which was an interest rate reset date on our 2017 Term Loan, we selected an interest rate other than three-month LIBOR. As a result, the 2018 Swap, which was designated specifically to hedge three-month LIBOR interest payments, no longer qualified as a cash flow hedge. Subsequent to May 1, 2020, changes in the fair value of the 2018 Swap were accounted for as a component of other income (expense), net. Accumulated deferred losses on the 2018 Swap of $20.4 million,

or $16.0 million after taxes, at May 1, 2020 that were previously recorded as a component of accumulated other comprehensive loss, were being reclassified to the consolidated statement of operations as interest expense over the remaining term of the 2018 Swap, as the previously hedged interest payments occurred.

On April 13, 2021, we paid $16.5 million to the counterparty to settle the 2018 Swap agreement prior to its June 2024 maturity. Upon settlement, we recorded an unrealized gain of $1.3 million in other income (expense) to adjust the 2018 Swap to its fair value at settlement date and reclassified the remaining $15.7 million of pretax accumulated deferred losses from accumulated other comprehensive loss within stockholders’ equity to other income (expense), net on our consolidated statement of operations for the year ended January 31, 2022. The associated $3.7 million deferred tax asset was reclassified from accumulated other comprehensive loss and netted against income taxes receivable, which are included within prepaid expenses and other current assets on our consolidated balance sheet as of January 31, 2022.

Fair Values of Derivative Financial Instruments

The fair values of our derivative financial instruments and their classifications in our consolidated balance sheets as of January 31, 2022 and 2021 were as follows:


		January 31,
(in thousands)	Balance Sheet Classification	2022		2021
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Prepaid expenses and other current assets	$	33	$	136
Total derivative assets		$	33	$	136

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Accrued expenses and other current liabilities	$	91	$	47
Not designated as hedging instruments	Accrued expenses and other current liabilities	—		1
Interest rate swap agreements:
Not designated as a hedging instrument	Accrued expenses and other current liabilities	—		4,316
Not designated as a hedging instrument	Other liabilities	—		13,565
Total derivative liabilities		$	91	$	17,929

Derivative Financial Instruments in Cash Flow Hedging Relationships

The effects of derivative financial instruments designated as cash flow hedges on accumulated other comprehensive loss (“AOCL”) and on the consolidated statement of operations for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Net gains (losses) recognized in AOCL:
Foreign currency forward contracts	$	85	$	323	$	289
Interest rate swap agreement	—		(7,535)		(10,265)
	$	85	$	(7,212)	$	(9,976)
Net (losses) gains reclassified from AOCL to the consolidated statements of operations:
Foreign currency forward contracts	$	232	$	267	$	64
Interest rate swap agreement	(16,669)		(4,367)		(792)
	$	(16,437)	$	(4,100)	$	(728)

For information regarding the line item locations of the net (losses) gains on derivative financial instruments reclassified out of AOCL into the consolidated statements of operations, see Note 11, “Stockholders’ Equity”.

All of the foreign currency forward contracts underlying the net unrealized gains recorded in our accumulated other comprehensive loss at January 31, 2022 mature within twelve months, and therefore we expect all such gains to be reclassified into earnings within the next twelve months.

Derivative Financial Instruments Not Designated as Hedging Instruments

(Losses) gains recognized on derivative financial instruments not designated as hedging instruments in our consolidated statements of operations for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Classification in Consolidated Statements of Operations	Year Ended January 31,
(in thousands)		2022		2021		2020
Foreign currency forward contracts	Other income (expense), net	$	—	$	—	$	251
Interest rate swap agreements	Other income (expense), net	(14,374)		(1,267)		(48)
		$	(14,374)	$	(1,267)	$	203

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS

12 Months Ended

Jan. 31, 2022

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS

Stock-Based Compensation Plans

Plan Summaries

We issue stock-based incentive awards to eligible employees, directors and consultants, including restricted stock units (“RSUs”), performance stock units (“PSUs”), stock options (both incentive and non-qualified), and other awards, under the terms of our outstanding stock benefit plans (the “Plans” or “Stock Plans”) and forms of equity award agreements approved by our board of directors.

Awards are generally subject to multi-year vesting periods. We recognize compensation expense for awards on a straight-line basis over the requisite service periods of the awards, which are generally the vesting periods, reduced by estimated forfeitures. Upon issuance of restricted stock, exercise of stock options, or issuance of shares under the Plans, we generally issue new shares of common stock, but may issue treasury shares.

Stock-Based Compensation Plans

On June 20, 2019, our stockholders approved the Verint Systems Inc. 2019 Long-Term Stock Incentive Plan (the “2019 Plan”). Upon approval of the 2019 Plan, new awards are no longer permitted under our prior stock-based compensation plan (the “2017 Amended Plan”). Awards outstanding at June 20, 2019 under the 2017 Amended Plan or other previous stock-based compensation plans were not impacted by the approval of the 2019 Plan. Collectively, our stock-based compensation plans are referred to herein as the “Plans”.

The 2019 Plan authorizes our board of directors to provide equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, other stock-based awards, and performance compensation awards. Subject to adjustment as provided in the 2019 Plan, up to an aggregate of (i) 9,475,000 shares of our common stock plus (ii) the number of shares of our common stock available for issuance under the 2017 Amended Plan as of June 20, 2019, plus (iii) the number of shares of our common stock that become available for issuance as a result of awards made under the 2017 Amended Plan or the 2019 Plan that are forfeited, cancelled, exchanged, or that terminate or expire, may be issued or transferred in connection with awards under the 2019 Plan. Each stock option or stock-settled stock appreciation right granted under the 2019 Plan will reduce the available plan capacity by one share and each other award denominated in shares that is granted under the 2019 Plan will reduce the available plan capacity by 2.38 shares.

In March 2021, our board of directors approved an adjustment of the available plan capacity to the 2019 Plan to 14,239,656 shares based on an adjustment ratio of approximately 1.45 as a result of the Spin-Off.

Stock-Based Compensation Expense

We recognized stock-based compensation expense in the following line items on the consolidated statements of operations for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Component of income before provision for income taxes:
Cost of revenue — recurring	$	1,999	$	1,109	$	2,100
Cost of revenue — nonrecurring	3,029		2,184		3,316
Research and development, net	7,565		3,918		7,212
Selling, general and administrative	52,672		37,989		52,211
Total stock-based compensation expense	65,265		45,200		64,839
Income tax benefits related to stock-based compensation (before consideration of valuation allowances)	10,615		6,684		7,357
Total stock-based compensation, net of taxes	$	54,650	$	38,516	$	57,482

The following table summarizes stock-based compensation expense by type of award for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Restricted stock units and restricted stock awards	$	58,678	$	47,598	$	49,475
Stock bonus program and bonus share program	6,568		(2,390)		15,327
Total equity-settled awards	65,246		45,208		64,802
Phantom stock units (cash-settled awards)	19		(8)		37
Total stock-based compensation expense	$	65,265	$	45,200	$	64,839

Awards under our stock bonus and bonus share programs are accounted for as liability-classified awards, because the obligations are based predominantly on fixed monetary amounts that are generally known at inception of the obligation, to be settled with a variable number of shares of our common stock, which for awards under our stock bonus program is determined using a discounted average price of our common stock.

We recorded a $2.5 million net excess tax benefit, a $0.9 million net excess tax deficiency, and a $1.9 million net excess tax benefit resulting from our Stock Plans as a component of income tax expense for the years ended January 31, 2022, 2021, and 2020, respectively.

Restricted Stock Units and Performance Stock Units

We periodically award RSUs to our directors, officers, and other employees. The fair value of these awards is equivalent to the market value of our common stock on the grant date. RSUs are not shares of our common stock and do not have any of the rights or privileges thereof, including voting or dividend rights. On the applicable vesting date, the holder of an RSU becomes entitled to a share of our common stock. RSUs are subject to certain restrictions and forfeiture provisions prior to vesting.

We periodically award PSUs to executive officers and certain employees that vest upon the achievement of specified performance goals or market conditions. We separately recognize compensation expense for each tranche of a PSU award as if it were a separate award with its own vesting date. For certain PSUs, an accounting grant date may be established prior to the requisite service period.

Once a performance vesting condition has been defined and communicated, and the requisite service period has begun, our estimate of the fair value of PSUs requires an assessment of the probability that the specified performance criteria will be achieved, which we update at each reporting date and adjust our estimate of the fair value of the PSUs, if necessary. All compensation expense for PSUs with market conditions is recognized if the requisite service period is fulfilled, even if the market condition is not satisfied.

RSUs, PSUs, or phantom stock units that are expected to settle with cash payments upon vesting, if any, are reflected as liabilities on our consolidated balance sheets. Such awards were insignificant at January 31, 2022, 2021, and 2020.

The following table (“Award Activity Table”) summarizes activity for RSUs, PSUs, and other stock awards that reduce available Plan capacity under the Plans for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
	2022			2021			2020
(in thousands, except grant date fair values)	Shares or Units	Weighted-Average Grant-Date Fair Value		Shares or Units	Weighted-Average Grant-Date Fair Value		Shares or Units	Weighted-Average Grant-Date Fair Value
Beginning balance	2,950	$	35.97	1,879	$	52.96	1,877	$	40.98
Granted	1,540	$	48.01	1,469	$	47.30	1,157	$	59.89
Released	(1,800)	$	36.14	(1,125)	$	47.53	(1,009)	$	39.76
Forfeited	(236)	$	40.23	(206)	$	52.59	(146)	$	45.07
Ending balance	2,454	$	42.99	2,017	$	51.90	1,879	$	52.96

The beginning balance of the outstanding shares for the year ended January 31, 2022 reflects the adjusted shares based on an adjustment ratio of approximately 1.45 as a result of the Spin-Off on February 1, 2021. The related weighted-average grant date fair value for the beginning outstanding shares reflects the adjusted fair value of the awards on the Spin-Off Date. The adjusted shares preserve the same terms and conditions and vesting schedules as the original awards.

The beginning balance of the shares and the respective weighted-average grant date fair value for the years ended January 31, 2021 and 2020 reflect the shares and fair values on the original date of grant without adjustment.

With respect to our stock bonus program, activity presented in the table above only includes shares earned and released in consideration of the discount provided under that program. Consistent with the provisions of the Plans under which such shares are issued, other shares issued under the stock bonus program are not included in the table above because they do not reduce available plan capacity (since such shares are deemed to be purchased by the grantee at fair value in lieu of receiving an earned cash bonus). Activity presented in the table above includes all shares awarded and released under the bonus share program. Further details appear below under “Stock Bonus Program” and “Bonus Share Program”.

Our RSU and PSU awards may include a provision which allows the awards to be settled with cash payments upon vesting, rather than with delivery of common stock, at the discretion of our board of directors. As of January 31, 2022, for such awards that are outstanding, settlement with cash payments was not considered probable, and therefore these awards have been accounted for as equity-classified awards and are included in the table above.

In order to achieve an equitable modification of the existing awards following the Spin-Off, we converted unvested awards as of February 1, 2021 by a factor of approximately 1.45, resulting in additional awards being granted to remaining employees denominated solely in Verint common stock. As noted above, a corresponding adjustment was also made to the available capacity under the 2019 Plan.

The following table summarizes PSU activity in isolation under the Plans for the years ended January 31, 2022, 2021, and 2020 (these amounts are also included in the Award Activity Table above for 2022, 2021, and 2020):


	Year Ended January 31,
(in thousands)	2022	2021	2020
Beginning balance	743	423	414
Granted	212	297	237
Released	(381)	(182)	(200)
Forfeited	(27)	(27)	(28)
Ending balance	547	511	423

Consistent with the table above, the beginning balance of the outstanding shares for the year ended January 31, 2022 reflects the adjusted shares based on an adjustment ratio of approximately 1.45 as a result of the Spin-Off on February 1, 2021. The beginning balance of the outstanding shares of the years ended January 31, 2021 and 2020 reflects the number of shares on the date of grant without adjustment.

Excluding PSUs, we granted 1,328,000 RSUs during the year ended January 31, 2022.

As of January 31, 2022, there was approximately $66.8 million of total unrecognized compensation expense, net of estimated forfeitures, related to unvested restricted stock units, which is expected to be recognized over a weighted average period of 1.4 years.

Stock Options

We did not grant stock options during the years ended January 31, 2022, 2021, and 2020, and activity from stock options awarded in prior periods was not material during these years.

Phantom Stock Units

We have periodically issued phantom stock units to certain employees that settle, or are expected to settle, with cash payments upon vesting. Like equity-settled awards, phantom stock units are awarded with vesting conditions and are subject to certain forfeiture provisions prior to vesting.

Phantom stock unit activity for the years ended January 31, 2022, 2021, and 2020 was not significant.

Adjustment in Connection with the Spin-Off

In accordance with the terms of our applicable equity incentive plans, following the completion of the Spin-Off on February 1, 2021, we equitably adjusted the number of shares underlying our remaining unvested awards by a factor of approximately 1.45 based on the ratio of the trading prices of our common stock prior to the Spin-Off to the trading prices of our common stock following the Spin-Off.

Stock Bonus Program

Our stock bonus program permits eligible employees to receive a portion of their earned bonuses, otherwise payable in cash, in the form of discounted shares of our common stock. Executive officers are eligible to participate in this program to the extent that shares remain available for awards following the enrollment of all other participants. Shares awarded to executive officers with respect to the discount feature of the program are subject to a one-year vesting period. This program is subject to annual funding approval by our board of directors and an annual cap on the number of shares that can be issued. Subject to these limitations, the number of shares to be issued under the program for a given year is determined using a five-day trailing average price of our common stock when the awards are calculated, reduced by a discount determined by the board of directors each year (the “discount”). To the extent that this program is not funded in a given year or the number of shares of common stock needed to fully satisfy employee enrollment exceeds the annual cap, the applicable portion of the employee bonuses will generally revert to being paid in cash. Obligations under this program are accounted for as liabilities, because the obligations are based predominantly on fixed monetary amounts that are generally known at inception of the obligation, to be settled with a variable number of shares of common stock determined using a discounted average price of our common stock. Shares earned under the program are issued after the end of the performance period, in the subsequent fiscal year.

For bonuses in respect of the year ended January 31, 2019, our board of directors approved the use of up to 200,000 shares of common stock, and a discount of 15%, for awards under this program. We issued 97,000 shares in lieu of cash bonuses and 13,000 shares for the discount feature in the year ended January 31, 2020 (in respect of the performance period ended January 31, 2019).

For bonuses in respect of the year ended January 31, 2020, our board of directors approved the use of up to 200,000 shares of common stock, and a discount of 15%, for awards under this program. We issued 32,000 shares in lieu of cash bonuses and 3,000 shares for the discount feature in the year ended January 31, 2021 (in respect of the performance period ended January 31, 2020).

For bonuses in respect of the year ended January 31, 2021, our board of directors approved the use of up to 200,000 shares of common stock, and a discount of 15%, for awards under this program. However, the program was not used for such performance period and no shares were issued during the year ended January 31, 2022 (in respect of the performance period ended January 31, 2021).

For bonuses in respect of the year ended January 31, 2022, our board of directors approved the use of up to 300,000 shares of common stock, and a discount of 15%, for awards under this program. Shares earned under the program will be calculated and issued during the first half of the year ending January 31, 2023.

The following table summarizes activity under the stock bonus program during the years ended January 31, 2022, 2021, and 2020 in isolation from other share activity. As noted above, shares issued in a given fiscal year are in respect of the prior fiscal year’s program period. Also, as noted above, shares issued in respect of the discount feature under the program reduce available plan capacity and are included in the Award Activity Table above. Other shares issued under the program do not reduce available plan capacity and are therefore excluded from the Award Activity Table above.


	Year Ended January 31,
(in thousands)	2022	2021	2020
Shares in lieu of cash bonus — granted and released (not included in the Award Activity Table above)	—	32	97
Shares in respect of discount (included in the Award Activity Table above):
Granted	—	—	16
Released	—	3	13

As noted above, the shares to be issued in respect of the program period ended January 31, 2022 will be calculated and issued during the first half of the year ending January 31, 2023 and are therefore not shown in this table.

In March 2022, our board of directors approved up to 200,000 shares of common stock, and a discount of 15%, for awards under our stock bonus program for the performance period ending January 31, 2023. Any shares earned under the program will be issued during the year ending January 31, 2024.

Bonus Share Program

Under our bonus share program, we may provide discretionary bonuses to employees or pay earned bonuses that are outside the stock bonus program in the form of shares of common stock. Unlike the stock bonus program, there is no enrollment for this program and no discount feature. Similar to the accounting for the stock bonus program, obligations for these bonuses are accounted for as liabilities, because the obligations are based predominantly on fixed monetary amounts that are generally known, to be settled with a variable number of shares of common stock. As noted above, all shares issued under this program are included in the Award Activity Table above. Like the stock bonus program, shares awarded under the program are issued after the end of the performance period, in the subsequent fiscal year.

For bonuses in respect of the year ended January 31, 2019, our board of directors approved the use of up to 300,000 shares of common stock under this program, minus any shares used under the stock bonus program in respect of the same performance period. Approximately 59,000 shares of common stock were awarded and released under this program during the year ended January 31, 2020 (in respect of the performance period ended January 31, 2019).

For bonuses in respect of the year ended January 31, 2020, our board of directors approved the use of up to 305,000 shares of common stock under this program, minus any shares used under the stock bonus program in respect of the same performance period. Approximately 272,000 shares of common stock were awarded and released under this program during the year ended January 31, 2021 (in respect of the performance period ended January 31, 2020).

For bonuses in respect of the year ended January 31, 2021, our board of directors approved the use of up to 300,000 shares of common stock under this program, minus any shares used under the stock bonus program in respect of the same performance period. Any shares awarded under this program would have been issued during the first half of the year ended January 31, 2022, however the program was not used, and no shares of common stock were issued during the year ended January 31, 2022 (in respect of the performance period ended January 31, 2021). Bonuses in respect of the year ended January 31, 2021 were paid solely in cash.

For bonuses in respect of the year ended January 31, 2022, our board of directors has approved the use of up to 300,000 shares of common stock under this program, minus any shares used under the stock bonus program in respect of the same performance period (the maximum numbers of shares issuable under the stock bonus program and the bonus share program collectively for the performance period ended January 31, 2022 will not exceed 300,000). Any shares awarded under this program will be issued during the first half of the year ending January 31, 2023, however, we do not currently expect to issue any shares under this program in respect of the performance period ended January 31, 2022.

For bonuses in respect of the year ended January 31, 2023, in March 2022 our board of directors approved the use of up to 300,000 shares of common stock under this program, minus any shares used under the stock bonus program in respect of the

same performance period. Any shares awarded under this program will be issued during the first half of the year ending January 31, 2024.

The combined accrued liabilities for the stock bonus program and the bonus share program was $6.5 million at January 31, 2022.

Other Benefit Plans

401(k) Plan and Other Retirement Plans

We maintain a 401(k) Plan for our full-time employees in the United States. The plan allows eligible employees who attain the age of 21 beginning with the first of the month following their date of hire to elect to contribute up to 60% of their annual compensation, subject to the prescribed maximum amount. We match employee contributions at a rate of 50%, up to a maximum annual matched contribution of $2,000 per employee.

Employee contributions are always fully vested, while our matching contributions for each year vest on the last day of the calendar year provided the employee remains employed with us on that day.

Our matching contribution expenses for our 401(k) Plan were $2.6 million, $2.6 million, and $2.9 million for the years ended January 31, 2022, 2021, and 2020, respectively.

We provide retirement benefits for non-U.S. employees as required by local laws or to a greater extent as we deem appropriate through plans that function similar to 401(k) plans. Funding requirements for programs required by local laws are determined on an individual country and plan basis and are subject to local country practices and market circumstances.

Severance Pay

We are obligated to make severance payments for the benefit of certain employees of our foreign subsidiaries. Severance payments made to Israeli employees are considered significant compared to all other subsidiaries with severance payment arrangements. Under Israeli law, we are obligated to make severance payments to employees of our Israeli subsidiary, subject to certain conditions. In most cases, our liability for these severance payments is fully provided for by regular deposits to funds administered by insurance providers and by an accrual for the amount of our liability which has not yet been deposited.

Severance expenses for our Israeli employees for the years ended January 31, 2022, 2021, and 2020 were $1.3 million, $1.1 million, and $1.1 million, respectively.

LEASES

12 Months Ended

Jan. 31, 2022

Leases [Abstract]

LEASES

We have entered into operating leases primarily for corporate offices, research and development facilities, datacenters, and automobiles. Our finance leases primarily relate to infrastructure equipment. Our leases have remaining lease terms of 1 year to 8 years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within 1 to 3 years. As of January 31, 2022 and 2021, assets recorded under finance leases were $14.4 million and $11.0 million, respectively. As of January 31, 2022 and 2021, accumulated depreciation associated with finance leases was $5.0 million and $2.7 million, respectively.

The components of lease expenses for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Operating lease expenses	$	24,241	$	28,617	$	26,583
Finance lease expenses:
Amortization of right-of-use assets	3,223		2,295		581
Interest on lease liabilities	260		312		204
Total finance lease expenses	3,483		2,607		785
Variable lease expenses	6,344		5,504		5,609
Short-term lease expenses	1,055		584		657
Sublease income	(1,804)		(966)		(908)
Total lease expenses	$	33,319	$	36,346	$	32,726

During the years ended January 31, 2022 and 2021, we exited certain leased offices primarily due to our workforce operating under remote work environments in certain locations due to the COVID-19 pandemic, which resulted in the recognition of accelerated operating lease costs of $9.8 million and $2.4 million, respectively. Operating lease expenses for the years ended January 31, 2021 and 2020 included $6.9 million and $6.7 million, respectively, of indirect shared facility expenses, which were no longer a component of lease cost subsequent to the completion of the Spin-Off.

Other information related to leases was as follows:


	Year Ended January 31,
(dollars in thousands)	2022			2021			2020
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,360		$	21,243		$	20,083
Operating cash flows from finance leases	260			312			204
Financing cash flows from finance leases	3,189			2,389			1,930
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,282		$	7,619		$	17,843
Finance leases	4,041			903			3,288
Weighted average remaining lease terms
Operating leases	3 years			6 years			6 years
Finance leases	3 years			3 years			3 years
Weighted average discount rates
Operating leases	4.8		%	5.8		%	5.7		%
Finance leases	3.8		%	4.0		%	5.1		%

Maturities of lease liabilities as of January 31, 2022 were as follows:


	January 31, 2022
(in thousands)	Operating Leases		Finance Leases
Year Ending January 31,
2023	$	26,526	$	2,804
2024	9,808		2,017
2025	8,221		1,418
2026	5,056		550
2027	4,312		19
Thereafter	5,423		—
Total future minimum lease payments	59,346		6,808
Less: imputed interest	(6,338)		(348)
Total	$	53,008	$	6,460

Reported as of January 31, 2022:
Accrued expenses and other current liabilities	$	24,551	$	2,629
Operating lease liabilities	28,457		—
Other liabilities	—		3,831
Total	$	53,008	$	6,460

As of January 31, 2022, we have additional operating leases for office facilities, equipment, and vehicles that have not yet commenced with future lease obligations of $2.4 million. These operating leases will commence in the year ending January 31, 2023 with lease terms of 3 years to 4 years.

LEASES

The components of lease expenses for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Operating lease expenses	$	24,241	$	28,617	$	26,583
Finance lease expenses:
Amortization of right-of-use assets	3,223		2,295		581
Interest on lease liabilities	260		312		204
Total finance lease expenses	3,483		2,607		785
Variable lease expenses	6,344		5,504		5,609
Short-term lease expenses	1,055		584		657
Sublease income	(1,804)		(966)		(908)
Total lease expenses	$	33,319	$	36,346	$	32,726

Other information related to leases was as follows:


	Year Ended January 31,
(dollars in thousands)	2022			2021			2020
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,360		$	21,243		$	20,083
Operating cash flows from finance leases	260			312			204
Financing cash flows from finance leases	3,189			2,389			1,930
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,282		$	7,619		$	17,843
Finance leases	4,041			903			3,288
Weighted average remaining lease terms
Operating leases	3 years			6 years			6 years
Finance leases	3 years			3 years			3 years
Weighted average discount rates
Operating leases	4.8		%	5.8		%	5.7		%
Finance leases	3.8		%	4.0		%	5.1		%

Maturities of lease liabilities as of January 31, 2022 were as follows:


	January 31, 2022
(in thousands)	Operating Leases		Finance Leases
Year Ending January 31,
2023	$	26,526	$	2,804
2024	9,808		2,017
2025	8,221		1,418
2026	5,056		550
2027	4,312		19
Thereafter	5,423		—
Total future minimum lease payments	59,346		6,808
Less: imputed interest	(6,338)		(348)
Total	$	53,008	$	6,460

Reported as of January 31, 2022:
Accrued expenses and other current liabilities	$	24,551	$	2,629
Operating lease liabilities	28,457		—
Other liabilities	—		3,831
Total	$	53,008	$	6,460

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Unconditional Purchase Obligations In the ordinary course of business, we enter into certain unconditional purchase obligations, which are agreements to purchase goods or services that are enforceable, legally binding, and that specify all significant terms, including: fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. Our purchase orders are based on current needs and are typically fulfilled by our vendors within a relatively short time horizon. As of January 31, 2022, our unconditional purchase obligations totaled approximately $240.3 million. Licenses and Royalties We license certain technology and pay royalties under such licenses and other agreements entered into in connection with research and development activities. Historically, we have received non-refundable grants from the Israeli Innovation Authority (“IIA”) that funded a portion of our research and development expenditures. The Israeli law under which the IIA grants are made limits our ability to manufacture products, or transfer technologies, developed using these grants outside of Israel. If we were to seek approval to manufacture products, or transfer technologies, developed using these grants outside of Israel, we could be subject to additional royalty requirements or be required to pay certain redemption fees. If we were to violate these restrictions, we could be required to refund any grants previously received, together with interest and penalties, and may be subject to criminal penalties. Funds received from the IIA were recorded as a reduction to research and development expenses and amounts received were not material during the years ended January 31, 2022, 2021 and 2020. Off-Balance Sheet Risk In the normal course of business, we provide certain customers with financial performance guarantees, which are generally backed by standby letters of credit or surety bonds. In general, we would only be liable for the amounts of these guarantees in the event that our nonperformance permits termination of the related contract by our customer, which we believe is remote. At January 31, 2022, we had approximately $1.5 million of outstanding letters of credit and surety bonds relating primarily to these performance guarantees. As of January 31, 2022, we believe we were in compliance with our performance obligations under all contracts for which there is a financial performance guarantee, and the ultimate liability, if any, incurred in connection with these guarantees will not have a material adverse effect on our consolidated results of operations, financial position, or cash flows. Our historical non-compliance with our performance obligations has been insignificant. Indemnifications In the normal course of business, we provide indemnifications of varying scopes to customers against claims of intellectual property infringement made by third parties arising from the use of our products. Historically, costs related to these indemnification provisions have not been significant and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations. To the extent permitted under Delaware law or other applicable law, we indemnify our directors, officers, employees, and agents against claims they may become subject to by virtue of serving in such capacities for us. We also have contractual indemnification agreements with our directors, officers, and certain senior executives. The maximum amount of future payments we could be required to make under these indemnification arrangements and agreements is potentially unlimited; however, we have insurance coverage that limits our exposure and enables us to recover a portion of any future amounts paid. We are not able to estimate the fair value of these indemnification arrangements and agreements in excess of applicable insurance coverage, if any. Legal Proceedings CTI Litigation In March 2009, one of our former employees, Ms. Orit Deutsch, commenced legal actions in Israel against our former primary Israeli subsidiary, Cognyte Technologies Ltd. (formerly known as Verint Systems Limited or “VSL”) (Case Number 4186/09) and against our former affiliate CTI (Case Number 1335/09). Also, in March 2009, a former employee of Comverse Limited (CTI’s primary Israeli subsidiary at the time), Ms. Roni Katriel, commenced similar legal actions in Israel against Comverse Limited (Case Number 3444/09). In these actions, the plaintiffs generally sought to certify class action suits against the defendants on behalf of current and former employees of VSL and Comverse Limited who had been granted stock options in Verint and/or CTI and who were allegedly damaged as a result of a suspension on option exercises during an extended filing delay period that is discussed in our and CTI’s historical public filings. On June 7, 2012, the Tel Aviv District Court, where the cases had been filed or transferred, allowed the plaintiffs to consolidate and amend their complaints against the three defendants: VSL, CTI, and Comverse Limited. On October 31, 2012, CTI distributed all of the outstanding shares of common stock of Comverse, Inc., its principal operating subsidiary and parent company of Comverse Limited, to CTI’s shareholders (the “Comverse Share Distribution”). In the period leading up to the Comverse Share Distribution, CTI either sold or transferred substantially all of its business operations and assets (other than its equity ownership interests in Verint and in its then-subsidiary, Comverse, Inc.) to Comverse, Inc. or to unaffiliated third parties. As the result of these transactions, Comverse, Inc. became an independent company and ceased to be affiliated with CTI, and CTI ceased to have any material assets other than its equity interests in Verint. Prior to the completion of the Comverse Share Distribution, the plaintiffs sought to compel CTI to set aside up to $150.0 million in assets to secure any future judgment, but the District Court did not rule on this motion. In February 2017, Mavenir Inc. became successor-in-interest to Comverse, Inc. On February 4, 2013, Verint acquired the remaining CTI shell company in a merger transaction (the “CTI Merger”). As a result of the CTI Merger, Verint assumed certain rights and liabilities of CTI, including any liability of CTI arising out of the foregoing legal actions. However, under the terms of a Distribution Agreement entered into in connection with the Comverse Share Distribution, we, as successor to CTI, are entitled to indemnification from Comverse, Inc. (now Mavenir) for any losses we may suffer in our capacity as successor to CTI related to the foregoing legal actions. Following an unsuccessful mediation process, on August 28, 2016, the District Court (i) denied the plaintiffs’ motion to certify the suit as a class action with respect to all claims relating to Verint stock options, (ii) dismissed the motion to certify the suit against VSL and Comverse Limited, and (iii) approved the plaintiffs’ motion to certify the suit as a class action against CTI with respect to claims of current or former employees of Comverse Limited (now part of Mavenir) or of VSL who held unexercised CTI stock options at the time CTI suspended option exercises. The court also ruled that the merits of the case would be evaluated under New York law. As a result of this ruling (which excluded claims related to Verint stock options from the case), one of the original plaintiffs in the case, Ms. Deutsch, was replaced by a new representative plaintiff, Mr. David Vaaknin. CTI appealed portions of the District Court’s ruling to the Israeli Supreme Court. On August 8, 2017, the Israeli Supreme Court partially allowed CTI’s appeal and ordered the case to be returned to the District Court to determine whether a cause of action exists under New York law based on the parties’ expert opinions. Following two unsuccessful rounds of mediation in mid to late 2018 and in mid-2019, the proceedings resumed. On April 16, 2020, the District Court accepted plaintiffs’ application to amend the motion to certify a class action and set deadlines for filing amended pleadings by the parties. CTI submitted a motion to appeal the District Court’s decision to the Israeli Supreme Court, as well as a motion to stay the proceedings in the District Court pending the resolution of the appeal. On July 6, 2020, the Israeli Supreme Court granted the motion for a stay. On July 27, 2020, the plaintiffs filed their response on the merits of the motion for leave to appeal. On December 15, 2021, the Israeli Supreme Court rejected CTI’s motion to appeal and the proceedings in the District Court resumed. On February 1, 2021, we completed the Spin-Off. As a result of the Spin-Off, Cognyte is now an independent, publicly traded company. Under the terms of the Separation and Distribution Agreement entered into between Verint and Cognyte, Cognyte has agreed to indemnify Verint for Cognyte’s share of any losses that Verint may suffer related to the foregoing legal actions either in its capacity as successor to CTI, to the extent not indemnified by Mavenir, or due to its former ownership of Cognyte and VSL. Unfair Competition Litigation and Related Investigation On February 14, 2022, Verint Americas Inc., as successor to ForeSee Results, Inc. (“ForeSee”), received negative partial summary judgment decisions in two cases pending against it in the United States District Court for the Eastern District of Michigan. As discussed below, we believe that the court’s decisions were wrongly decided and are contrary to the facts and the law. We are seeking reconsideration of the rulings and will ultimately appeal the rulings if necessary. We believe that the claims asserted by the plaintiffs are without merit. In addition, as explained in our affirmative Delaware litigation, we also believe that by bringing the claims, plaintiffs breached an agreement not to pursue such claims in an improper attempt by them and their founder, Claes Fornell, to extract additional monies from ForeSee. The two Eastern District of Michigan cases are captioned ACSI LLC v. ForeSee Results, Inc. and CFI Group USA LLC v. Verint Americas Inc. The former case was filed on October 24, 2018 against ForeSee Results, Inc. by American Customer Satisfaction Index, LLC (“ACSI LLC”). Case No. 2:18-cv-13319. Verint completed its acquisition of ForeSee on December 19, 2018. In its complaint, ACSI LLC alleged infringement of two federally registered trademarks and common law unfair competition under federal and state law. ACSI LLC asserts that ForeSee, despite cancelling its license to use ACSI LLC’s alleged trademarks in 2013, has continued to use ACSI LLC’s trademarks. The trademark infringement claim was subsequently dismissed, but the common law unfair competition claims have proceeded. The latter case was filed on September 5, 2019 against Verint Americas Inc. (as successor in interest to ForeSee) by CFI Group USA LLC (“CFI”). Case No. 2:19-cv-12602. In its complaint, CFI alleges unfair competition and false advertising under federal and state law, as well as tortious interference with contract. CFI asserts that ForeSee engaged in unfair competition by using ACSI LLC’s trademarks without a license, and that ForeSee engaged in false advertising by mis-describing its customer satisfaction products. ACSI LLC’s and CFI’s complaints seek unspecified damages on their claims. Following discovery, on June 3, 2021, ACSI LLC and CFI moved for partial summary judgment on their claims and ForeSee moved for summary judgment against their claims. On February 14, 2022, the Eastern District of Michigan generally granted ACSI LLC’s and CFI’s motions for partial summary judgment and generally denied ForeSee’s motions for summary judgment. As noted above, ForeSee believes that the court’s decisions were wrongly decided, ignore substantial factual evidence in the record, and are contrary to applicable law. On February 28, 2022, ForeSee moved for reconsideration, and that motion is pending before the court. ForeSee continues to believe that there are substantial defenses to the claims in the ACSI LLC and CFI litigations and intends to continue to defend them vigorously. Verint has also been informed that the U.S. Attorney’s Office for the Eastern District of Michigan’s Civil Division (“USAO”) is conducting a False Claims Act investigation concerning allegations ForeSee and/or Verint failed to provide the federal government the services described in certain government contracts. Verint received a Civil Investigation Demand (“CID”) in connection with this investigation and has provided responses. The False Claims Act contains provisions that allow for private persons to initiate actions by filing claims under seal. We believe that this investigation was initiated in coordination with the Eastern District of Michigan litigation discussed above. Verint continues to work cooperatively with the USAO in its review of this matter. At this point, Verint has not determined that there were any deficiencies in ForeSee’s and/or Verint’s performance of the government contracts. ForeSee also filed affirmative litigation in the Northern District of Georgia (Case No. 1:19-cv-02892, Complaint filed on June 25, 2019) against ACSI LLC’s predecessor in interest. ACSI LLC has now been substituted as the named defendant. In that action, ForeSee seeks cancellation of ACSI LLC’s federally registered trademarks. In response to ASCI LLC’s motion to dismiss the action, on March 15, 2022, the Georgia court issued an order transferring that action to the Eastern District of Michigan. ForeSee has also filed affirmative litigation in the District of Delaware (Case No. 1:21-cv-00674, Complaint filed on May 7, 2021) against ACSI LLC, CFI, Claes Fornell, and CFI Software LLC. Claes Fornell founded both ACSI LLC and CFI, and previously co-founded ForeSee before selling it in December 2013 for a significant gain. The Delaware action asserts claims against ACSI LLC, CFI, Fornell, and CFI Software for their breach of a “Joinder and Waiver Agreement” entered into in connection with the December 2013 sale in which they represented that they had no claims against ForeSee and in which they released any such claims. The Delaware action alleges that the Eastern District of Michigan litigations effectively represent an improper attempt by Fornell and his affiliates to profit off of ForeSee a second time (first by selling it in 2013 as a law-abiding company, only to sue it in 2018 and 2019 claiming violations of law for business practices that began while Fornell owned a significant position in ForeSee (via CFI Software) and during the time that Fornell served as chairman of ForeSee’s board). The Delaware action also asserts fraud claims against Fornell and CFI Software for affirmative statements they made in the December 2013 merger agreement which effectuated the sale and in other contemporaneous materials that ForeSee was not engaging in unfair competition or other violations of law. The Delaware litigation seeks as damages any amounts recovered by ACSI LLC, CFI or the USAO in the proceedings discussed above, as well as attorneys’ fees. Defendants moved to dismiss, stay or transfer the Delaware litigation, and the magistrate judge assigned to the case denied the motions to dismiss and transfer but recommended temporarily staying the case pending decisions on the motions for summary judgment in the Eastern District of Michigan. ForeSee objected to the recommended stay, and those objections are currently pending before the Delaware court. No amounts have been recognized in our consolidated financial statements for these loss contingencies as it is not probable a loss has been incurred and the range of a possible loss is not yet estimable. However, in light of the recent rulings by the court in the Eastern District of Michigan, we consider the potential exposure reasonably possible. An estimate of a reasonably possible loss (or a range of loss) cannot be made in either the commercial litigation or False Claims Act investigation at this time. As these matters are ongoing it is at least reasonably possible that our estimates will change in the near term and the effect may be material. We are a party to other various litigation matters and claims that arise from time to time in the ordinary course of our business. While we believe that the ultimate outcome of any such current matters will not have a material adverse effect on us, their outcomes are not determinable and negative outcomes may adversely affect our financial position, liquidity, or results of operations.

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION

12 Months Ended

Jan. 31, 2022

Segment Reporting [Abstract]

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION

Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is

evaluated regularly by the enterprise’s chief operating decision maker, or CODM, or decision making group, in deciding how to allocate resources and in assessing performance. Our Chief Executive Officer is our CODM.

Prior to the Spin-Off, we had two reportable segments—Customer Engagement and Cyber Intelligence. Upon completion of the Spin-Off, we began operating as a pure-play customer engagement company that operates as a single reporting segment as our CODM reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.

Geographic Information

Revenue by major geographic region is based upon the geographic location of the customers who purchase our products and services. The geographic locations of distributors, resellers, and systems integrators who purchase and resell our products may be different from the geographic locations of end customers.

Revenue in the Americas includes the United States, Canada, Mexico, Brazil, and other countries in the Americas. Revenue in Europe, the Middle East and Africa (“EMEA”) includes the United Kingdom, Germany, Israel, and other countries in EMEA. Revenue in the Asia-Pacific (“APAC”) region includes Australia, India, and other Asia-Pacific countries.

The information below summarizes revenue from unaffiliated customers by geographic area for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Americas:
United States	$	552,680	$	515,480	$	539,586
Other	48,043		54,470		49,489
Total Americas	600,723		569,950		589,075
EMEA:
United Kingdom	100,606		100,855		100,107
Other	79,560		72,361		68,835
Total EMEA	180,166		173,216		168,942
APAC	93,620		87,081		88,508
Total revenue	$	874,509	$	830,247	$	846,525

Our long-lived assets primarily consist of net property and equipment, operating lease right-of-use assets, goodwill and other intangible assets, and deferred income taxes. We believe that our tangible long-lived assets, which consist of our net property and equipment, are exposed to greater geographic area risks and uncertainties than intangible assets, operating lease right of use assets, and long-term cost deferrals, because these tangible assets are difficult to move and are relatively illiquid.

Property and equipment, net by geographic area consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
United States	$	50,241	$	51,537
United Kingdom	9,225		11,345
Other countries	4,624		6,208
Total property and equipment, net	$	64,090	$	69,090

Significant Customers

No end-customer represented more than 10% of our total revenue during the years ended January 31, 2022, 2021, and 2020. In the year ended January 31, 2021, we had an authorized global reseller of our solutions that represented approximately 10% of our total revenue, but did not represent 10% or greater of our total revenue for the years ended January 31, 2022 or 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Jan. 31, 2022

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)Summarized condensed quarterly financial information for the years ended January 31, 2022 and 2021 appears in the following tables:


	Three Months Ended
(in thousands, except per share data)	April 30, 2021		July 31, 2021		October 31, 2021		January 31, 2022
Revenue	$	200,904	$	214,617	$	224,820	$	234,168
Gross profit	$	128,564	$	142,050	$	152,736	$	152,587
Income from continuing operations before provision for income taxes	$	1,022	$	9,517	$	22,850	$	6,115
Net income (loss) from continuing operations	$	1,094	$	5,316	$	13,501	$	(4,260)
Net income (loss) attributable to Verint Systems Inc.	$	799	$	5,000	$	13,237	$	(4,623)
Net (loss) income attributable to Verint Systems Inc. common shares	$	(2,523)	$	(200)	$	8,037	$	(9,823)

Net (loss) income from continuing operations attributable to Verint Systems Inc. common shares
Basic	$	(0.04)	$	—	$	0.12	$	(0.15)
Diluted	$	(0.04)	$	—	$	0.12	$	(0.15)


	Three Months Ended
(in thousands, except per share data)	April 30, 2020		July 31, 2020		October 31, 2020		January 31, 2021
Revenue	$	185,865	$	204,080	$	215,222	$	225,080
Gross profit	$	114,962	$	137,179	$	141,350	$	149,205
Loss from continuing operations before provision for income taxes	$	(14,071)	$	(1,025)	$	(1,017)	$	(25,551)
Net loss from continuing operations	$	(14,418)	$	(9,370)	$	(2,101)	$	(22,712)
Net (loss) income attributable to Verint Systems Inc.	$	(6,014)	$	8,494	$	10,175	$	(19,922)
Net loss from continuing operations attributable to Verint Systems Inc. common shares	$	(14,658)	$	(12,181)	$	(5,068)	$	(25,403)
Net income from discontinued operations attributable to Verint Systems Inc. common shares	$	8,644	$	18,191	$	12,585	$	2,967

Net loss per common share attributable to Verint Systems Inc. from continuing operations
Basic	$	(0.23)	$	(0.19)	$	(0.08)	$	(0.39)
Diluted	$	(0.23)	$	(0.18)	$	(0.08)	$	(0.39)

Net income per common share attributable to Verint Systems Inc. from discontinued operations
Basic	$	0.14	$	0.28	$	0.19	$	0.05
Diluted	$	0.14	$	0.27	$	0.19	$	0.05

Net (loss) income per common share attributable to Verint Systems Inc. is computed independently for each quarterly period and for the year. Therefore, the sum of quarterly net (loss) income per common share amounts may not equal the amounts reported for the years.

As a result of the Spin-Off, the statement of operations, balance sheets, and related financial information reflect Cognyte’s operations, assets and liabilities as discontinued operations. Please refer to Note 2, “Discontinued Operations” for a more detailed discussion of the Spin-Off.

The quarterly operating results for the year ended January 31, 2022 did not include any material unusual or infrequently occurring items.

Net loss from continuing operations attributable to Verint Systems Inc. common shares for the three months ended January 31, 2021 reflects a non-cash Future Tranche Right charge of $33.3 million. Please refer to Note 10, “Convertible Preferred Stock” and Note 14, “Fair Value Measurements” for additional information regarding the Future Tranche Right.

As is typical for many software and technology companies, our business is subject to seasonable and cyclical factors. In most years, our revenue and operating income are typically highest in the fourth quarter and lowest in the first quarter (prior to the impact of unusual or nonrecurring items). Moreover, revenue and operating income in the first quarter of a new year may be lower than in the fourth quarter of the preceding year, in some years, potentially by a significant margin. In addition, we generally receive a higher volume of orders in the last month of a quarter, with orders concentrated in the later part of that month. We believe that these seasonal and cyclical factors primarily reflect customer spending patterns and budget cycles, as well as the impact of compensation incentive plans for our sales personnel. While seasonal and cyclical factors such as these are common in the software and technology industry, this pattern should not be considered a reliable indicator of our future revenue or financial performance. Many other factors, including general economic conditions, also have an impact on our business and financial results. See “Risk Factors” in Item 1A of this report for a more detailed discussion of factors which may affect our business and financial results.

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Jan. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT On December 2, 2021, we announced that our board of directors had authorized a new stock repurchase program for the fiscal year ending January 31, 2023 whereby we may repurchase up to 1.5 million shares of common stock to offset dilution from our equity compensation program for such fiscal year. Subsequent to January 31, 2022, through the date of filing this report, we repurchased 1.5 million shares of our common stock for an aggregate purchase price of $78.2 million at an average price of $52.11 per share under our stock repurchase program. Repurchases were financed with available cash in the United States. On March 22, 2022, our board of directors authorized an additional 500,000 shares of common stock to be repurchased under this program.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jan. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Verint Systems Inc., and our wholly owned or otherwise controlled subsidiaries. Noncontrolling interests in less than wholly owned subsidiaries are reflected within stockholders’ equity on our consolidated balance sheet, but separately from our stockholders’ equity. On January 31, 2022, we exercised the option to acquire the noncontrolling interests in two majority owned subsidiaries. Prior to the exercise, we accounted for the option as an in-substance investment in the noncontrolling common stock of each such subsidiary. We included the fair value of the option within accrued expenses and other current liabilities and did not recognize noncontrolling interests in these subsidiaries. Equity investments in companies in which we have less than a 20% ownership interest and cannot exercise significant influence, and which do not have readily determinable fair values, are accounted for at cost, adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer, less any impairment. We include the results of operations of acquired companies from the date of acquisition. All significant intercompany transactions and balances are eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires our management to make estimates and assumptions, which may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. In light of the currently unknown extent and duration of the COVID-19 pandemic, we face a greater degree of uncertainty than normal in making the judgments and estimates needed to apply to certain of our significant accounting policies. We assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to us and the unknown future impacts of COVID-19 as of January 31, 2022 and through the date of this report. These estimates may change, as new events occur and additional information is obtained. Actual results could differ materially from these estimates under different assumptions or conditions.
Reclassifications	Reclassifications Following the Spin-Off, we began to operate as a pure-play customer engagement company and determined that presenting our revenue and cost of revenue as recurring and nonrecurring would be a more meaningful representation of the nature of our offerings, provide greater transparency and clarity to users of the financial statements, and is more consistent with industry practice and internal reporting. Accordingly, prior period amounts have been reclassified to conform to the current period presentation in our consolidated financial statements and the accompanying notes. For a description of the types of revenue included in each category, see Note 3, “Revenue Recognition”.
Restricted Cash and Cash Equivalents, and Restricted Bank Time Deposits	Restricted Cash and Cash Equivalents, and Restricted Bank Time Deposits Restricted cash and cash equivalents, and restricted bank time deposits are pledged as collateral or otherwise restricted as to use for vendor payables, general liability insurance, workers’ compensation insurance, warranty programs, and other obligations.
Investments	InvestmentsOur investments generally consist of bank time deposits, and marketable debt securities of corporations, the U.S. government, and agencies of the U.S. government, all with remaining maturities in excess of 90 days at the time of purchase. We held no marketable debt securities at January 31, 2022 and 2021. Investments with maturities in excess of one year are included in other assets.
Accounts Receivable, Net	Accounts Receivable, NetTrade accounts receivable are comprised of invoiced amounts due from customers for which we have an unconditional right to collect and are not interest-bearing. Credit is extended to customers based on an evaluation of their financial condition and other factors. We generally do not require collateral or other security to support accounts receivable.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents, bank time deposits, short-term investments, trade accounts receivable, and contract assets. We invest our cash in bank accounts, certificates of deposit, and money market accounts with major financial institutions, in U.S. government and agency obligations, and in debt securities of corporations. By policy, we seek to limit credit exposure on investments through diversification and by restricting our investments to highly rated securities. We grant credit terms to our customers in the ordinary course of business. Concentrations of credit risk with respect to trade accounts receivable and contract assets are generally limited due to the large number of customers comprising our customer base and their dispersion across different industries and geographic areas. There was one customer, an authorized global reseller of our solutions, that accounted for approximately 14% of our aggregated accounts receivable and contract assets at January 31, 2022 and 2021, and approximately 10% of our total revenue for the year ended January 31, 2021, but did not represent 10% or greater of our total revenue for the years ended January 31, 2022 or 2020. Credit losses relating to this reseller have historically been immaterial. No end-customer represented more than 10% of our revenue during the years ended January 31, 2022, 2021, and 2020.
Allowance for Credit Losses	Allowance for Credit Losses We adopted Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments — Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments on February 1, 2020. ASU No. 2016-13 requires us to make judgments as to our ability to collect outstanding receivables and provide allowances for a portion of receivables over the lifetime of the receivables. Our allowance for expected credit losses is estimated based on an analysis of the aging of our accounts receivable and contract assets, historical write-offs, customer payment patterns, individual customer creditworthiness, current economic trends, reasonable and supportable forecasts of future economic conditions, and/or establishment of specific reserves for customers in adverse financial condition. We write-off an account receivable and charge it against its recorded allowance at the point when it is considered uncollectible. We assess the adequacy of the allowance for credit losses on a quarterly basis.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the weighted-average method of inventory accounting. The valuation of our inventories requires us to make estimates regarding excess or obsolete inventories, including making estimates of the future demand for our products. Although we make every effort to ensure the accuracy of our forecasts of future product demand, any significant unanticipated changes in demand, price, or technological developments could have a significant impact on the value of our inventory and reported operating results. Charges for excess and obsolete inventories are included within cost of revenue.
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed using the straight-line method based over the estimated useful lives of the assets. The vast majority of equipment, furniture and other is depreciated over periods ranging from three years to seven years. Software is typically depreciated over periods ranging from three years to four years. Buildings are depreciated over periods ranging from ten years to twenty-five years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease term. Finance leased assets are amortized over the related lease term. The cost of maintenance and repairs of property and equipment is charged to operations as incurred. When assets are retired or disposed of, the cost and accumulated depreciation or amortization thereon are removed from the consolidated balance sheet and any resulting gain or loss is recognized in the consolidated statement of operations.
Business Segment Information	Business Segment Information Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the enterprise’s chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. Prior to the Spin-Off, we conducted our business through two operating segments, which were also our two reportable segments—Customer Engagement and Cyber Intelligence. Upon completion of the Spin-Off, we are a pure-play customer engagement company that operates as a single reporting segment as our Chief Executive Officer, who is our CODM, reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.
Goodwill and Other Acquired Intangible Assets	Goodwill and Other Acquired Intangible Assets For business combinations, the purchase prices are allocated to the tangible assets and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition dates, with the remaining unallocated purchase prices recorded as goodwill. We test goodwill for impairment at the reporting unit level, which can be an operating segment or one level below an operating segment, on an annual basis as of November 1, or more frequently if changes in facts and circumstances indicate that impairment in the value of goodwill may exist. Subsequent to the Spin-Off of Cognyte on February 1, 2021, we became a pure-play customer engagement company that operates as a single reporting unit. In testing for goodwill impairment, we may elect to utilize a qualitative assessment to evaluate whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If we elect to bypass a qualitative assessment, or if our qualitative assessment indicates that goodwill impairment is more likely than not, we perform quantitative impairment testing. If our quantitative testing determines that the carrying value of the reporting unit exceeds its fair value, goodwill impairment is recognized in an amount equal to that excess, limited to the total goodwill allocated to the reporting unit. We utilize some or all of three primary approaches to assess the fair value of a reporting unit: (a) an income-based approach, using projected discounted cash flows, (b) a market-based approach, using valuation multiples of comparable companies, and (c) a transaction-based approach, using valuation multiples for recent acquisitions of similar businesses made in the marketplace. Our estimate of fair value of our reporting unit is based on a number of subjective factors, including: (a) appropriate consideration of valuation approaches (income approach, comparable public company approach, and comparable transaction approach), (b) estimates of future growth rates, (c) estimates of our future cost structure, (d) discount rates for our estimated cash flows, (e) selection of peer group companies for the comparable public company and the comparable market transaction approaches, (f) required levels of working capital, (g) assumed terminal value, and (h) time horizon of cash flow forecasts. The valuation methodology to determine the fair value of the reporting units is sensitive to management's forecasts of future revenue, profitability and market conditions. In addition, the extent to which the COVID-19 pandemic may adversely impact our business depends on future developments, which are uncertain and unpredictable, depending upon the severity and duration of the outbreak, and the effectiveness of actions taken globally to contain or mitigate its effects. Any resulting financial impact cannot be estimated reasonably at this time but may adversely affect our business and financial results. If there were an adverse change in facts and circumstances, then an impairment charge may be necessary in the future. Should the fair value of our reporting unit fall below its carrying amount because of reduced operating performance, market declines, changes in the discount rate, or other conditions, charges for impairment may be necessary. We monitor our reporting unit to determine if there is an indicator of potential impairment. Acquired identifiable intangible assets include identifiable acquired technologies, customer relationships, trade names, distribution networks, non-competition agreements, sales backlog, and in-process research and development. We amortize the cost of finite-lived identifiable intangible assets over their estimated useful lives, which are periods of 10 years or less. Amortization is based on the pattern in which the economic benefits of the intangible asset are expected to be realized, which typically is on a straight-line basis. The fair values assigned to identifiable intangible assets acquired in business combinations are determined primarily by using the income approach, which discounts expected future cash flows attributable to these assets to present value using estimates and assumptions determined by management. The acquired identifiable finite-lived intangible assets are being amortized primarily on a straight-line basis, which we believe approximates the pattern in which the assets are utilized, over their estimated useful lives.
Fair Value Measurements	Fair Value Measurements Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. An instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This fair value hierarchy consists of three levels of inputs that may be used to measure fair value: •Level 1: quoted prices in active markets for identical assets or liabilities; •Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or •Level 3: unobservable inputs that are supported by little or no market activity. We review the fair value hierarchy classification of our applicable assets and liabilities at each reporting period. Changes in the observability of valuation inputs may result in transfers within the fair value measurement hierarchy. Please refer to Note 14, “Fair Value Measurements”, for further discussion regarding transfers between levels of the fair value measurement hierarchy.
Fair Values of Financial Instruments	Fair Values of Financial InstrumentsOur recorded amounts of cash and cash equivalents, restricted cash and cash equivalents, and restricted bank time deposits, accounts receivable, contract assets, investments, and accounts payable approximate fair value, due to the short-term nature of these instruments. We measure certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.
Derivative Financial Instruments	Derivative Financial Instruments As part of our risk management strategy, when considered appropriate, we use derivative financial instruments including foreign currency forward contracts and interest rate swap agreements to hedge against certain foreign currency and interest rate exposures. Our intent is to mitigate gains and losses caused by the underlying exposures with offsetting gains and losses on the derivative contracts. By policy, we do not enter into speculative positions with derivative instruments. We record all derivatives as assets or liabilities on our consolidated balance sheets at their fair values. Gains and losses from the changes in values of these derivatives are accounted for based on the use of the derivative and whether it qualifies for hedge accounting. The counterparties to our derivative financial instruments consist of several major international financial institutions. We regularly monitor the financial strength of these institutions. While the counterparties to these contracts expose us to credit-related losses in the event of a counterparty’s non-performance, the risk would be limited to the unrealized gains on such affected contracts. We do not anticipate any such losses and we do not have a material portfolio of derivative financial instruments.
Revenue Recognition	Revenue RecognitionWe account for revenue in accordance with ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which was adopted on February 1, 2018, using the modified retrospective transition method. Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. When an arrangement contains multiple performance obligations, we account for individual performance obligations separately if they are distinct. We recognize revenue through the application of the following five steps: 1) Identify the contract(s) with a customer A contract with a customer exists when (i) we enter into an enforceable contract with the customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (ii) the contract has commercial substance, and (iii) we determine that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. We apply judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or in the case of a new customer, published credit and financial information pertaining to the customer. Our customary business practice is to enter into legally enforceable written contracts with our customers. The majority of our contracts are governed by a master agreement between us and the customer, which sets forth the general terms and conditions of any individual contract between the parties, which is then supplemented by a customer purchase order to specify the different goods and services, the associated prices, and any additional terms for an individual contract. Multiple contracts with a single counterparty entered into at the same time are evaluated to determine if the contracts should be combined and accounted for as a single contract. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, we must apply judgment to determine whether promised goods or services are capable of being distinct and are distinct in the context of the contract. If these criteria are not met the promised goods or services are accounted for as a combined performance obligation. Generally, our contracts do not include non-distinct goods or services. 3) Determine the transaction price The transaction price is determined based on the consideration to which we will be entitled in exchange for transferring goods or services to the customer. We assess the timing of transfer of goods and services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, we do not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is a year or less, which is the case in the majority of our customer contracts. The primary purpose of our invoicing terms is not to receive or provide financing from or to customers. To the extent the transaction price includes variable consideration, we estimate the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Variable consideration is included in the transaction price, if we assessed that it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Typically, our contracts do not provide our customers with any right of return or refund, and we do not constrain the contract price as it is probable that there will not be a significant revenue reversal due to a return or refund. 4) Allocate the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. However, if a series of distinct goods or services that are substantially the same qualifies as a single performance obligation in a contract with variable consideration, we must determine if the variable consideration is attributable to the entire contract or to a specific part of the contract. We allocate the variable amount to one or more distinct performance obligations but not all or to one or more distinct services that forms a part of a single performance obligation, when the payment terms of the variable amount relate solely to our efforts to satisfy that distinct performance obligation and it results in an allocation that is consistent with the overall allocation objective of ASU No. 2014-09. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis unless the transaction price is variable and meets the criteria to be allocated entirely to a performance obligation or to a distinct good or service that forms part of a single performance obligation. We determine standalone selling price (“SSP”) based on the price at which the performance obligation is sold separately. If the SSP is not observable through past transactions, we estimate the SSP taking into account available information such as market conditions, including geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and internally approved pricing guidelines related to the performance obligation. 5) Recognize revenue when (or as) the entity satisfies a performance obligation We satisfy performance obligations either over time or at a point in time depending on the nature of the underlying promise. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or service to a customer. In the case of contracts that include customer acceptance criteria, revenue is not recognized until we can objectively conclude that the product or service meets the agreed-upon specifications in the contract. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to our customers. Revenue is measured based on consideration specified in a contract with a customer, and excludes taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by us from a customer. Shipping and handling activities that are billed to the customer and occur after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of revenue. Historically, these expenses have not been material. Nature of Goods and Services We derive and report our revenue in two categories: (a) recurring revenue, which includes bundled SaaS, unbundled SaaS, hosting services, optional managed services, initial and renewal support revenue, and product warranties, and (b) nonrecurring revenue, which primarily consists of perpetual licenses, hardware, installation services, and business advisory consulting and training services. Our bundled SaaS contracts are typically comprised of a right to access our software, maintenance, hosting fees and standard managed services. We do not provide the customer with the contractual right to take possession of the software at any time during the hosting period under these contracts. The customer can only benefit from the SaaS license, maintenance and standard managed services when combined with the hosting service as the hosting service is the only way for the customer to access the software and benefit from the maintenance and managed services. Accordingly, each of the license, maintenance, hosting and standard managed services is not considered a distinct performance obligation in the context of the contract, and are combined into a single performance obligation (“bundled SaaS services”) and recognized ratably over the contract period. Our bundled SaaS customer contracts can consist of fixed, variable, and usage-based fees. Typically, we invoice fees at the outset of the contract, though quarterly or monthly billing terms are included in certain contracts. Certain bundled SaaS contracts include a nonrefundable upfront fee for setup services, which are not distinct from the bundled SaaS services. Non-distinct setup services represent an advanced payment for future bundled SaaS services, and are recognized as revenue when those bundled SaaS services are satisfied, unless the nonrefundable fee is considered to be a material right, in which case the nonrefundable fee is recognized over the expected benefit period, which includes anticipated renewals. We determine SSP for our bundled SaaS services based on the price at which the performance obligation is sold separately, which is observable through past renewal transactions. We satisfy our bundled SaaS services by providing access to our software over time and processing transactions for usage-based contracts. For non-usage based fees, the period of time over which we perform is commensurate with the contract term because that is the period during which we have an obligation to provide the service. The performance obligation is recognized on a time elapsed basis, by day for which the services are provided. Our software licenses either provide our customers a perpetual right to use our software or, in the case of unbundled SaaS, the right to use our software for only a fixed term, in most cases between a one- and three-year time frame. Generally, our contracts do not provide significant services of integration and customization and installation services are not required to be purchased directly from us. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that the software license is distinct as the customer can benefit from the software on its own. Software revenue is typically recognized when the software is delivered or made available for download to the customer. We rarely sell our software licenses on a standalone basis and as a result SSP is not directly observable and must be estimated. We apply the adjusted market assessment approach, considering both market conditions and entity specific factors such as assessment of historical data of sales of software licenses in combination with other promised goods and services in order to maximize the use of observable inputs. Software SSP is established based on an appropriate discount from our established list price, taking into consideration whether there are certain stratifications of the population with different pricing practices. Revenue for hardware is recognized at a point in time, generally upon shipment or delivery. Professional services revenues primarily consist of fees for deployment and optimization services, as well as training, and are generally recognized over time as the customer simultaneously receives and consumes the benefits of the professional services as the services are performed. Professional services that are billed on a time and materials basis are recognized over time as the services are performed. For contracts billed on a fixed price basis, revenue is recognized over time using an input method based on labor hours expended to date relative to the total labor hours expected to be required to satisfy the related performance obligation. We determine SSP for our professional services based on the price at which the performance obligation is sold separately, which is observable through past transactions. Customer support revenue is derived from providing remote technical support services, bug fixes and unspecified software updates and upgrades to customers on a when-and-if-available basis. Each of these performance obligations provide benefit to the customer on a standalone basis and are distinct in the context of the contract. Each of these distinct performance obligations represent a stand ready obligation to provide service to a customer, which is concurrently delivered and has the same pattern of transfer to the customer, which is why we account for these support services as a single performance obligation. We recognize support services ratably over the contractual term, which typically is one year for perpetual licenses and one to three years for unbundled SaaS. SSP for support services is developed based on standalone renewal contracts. Our solutions are generally sold with a warranty of one year to three years for hardware and 90 days for software. These warranties do not represent an additional performance obligation as services beyond assuring that the software license and hardware complies with agreed-upon specifications are not provided.
Cost of Revenue	Cost of Revenue Our cost of revenue includes costs of materials, compensation and benefit costs for operations and service personnel, subcontractor costs, royalties and license fees related to third-party software included in our products, cloud infrastructure costs, depreciation of equipment used in operations and service, amortization of capitalized software development costs and certain purchased intangible assets, and related overhead costs. Costs that relate to satisfied (or partially satisfied) performance obligations in customer contracts (i.e. costs that relate to past performance) are expensed as incurred. Please refer to Note 3, “Revenue Recognition” under the heading “Costs to Obtain and Fulfill Contracts” for further details regarding customer contract costs.
Research and Development, net	Research and Development, net With the exception of certain software development costs, all research and development costs are expensed as incurred, and consist primarily of personnel and consulting costs, travel, depreciation of research and development equipment, and related overhead and other costs associated with research and development activities. We periodically derive benefits from participation in government-sponsored programs in certain jurisdictions, for the support of research and development activities conducted in those locations.
Software Development Costs	Software Development Costs Costs incurred to acquire or develop software to be sold, leased or otherwise marketed are capitalized after technological feasibility is established, and continue to be capitalized through the general release of the related software product. Amortization of capitalized costs begins in the period in which the related product is available for general release to customers and is recorded on a straight-line basis, which approximates the pattern in which the economic benefits of the capitalized costs are expected to be realized, over the estimated economic lives of the related software products, generally five years.
Internal-Use Software Development Costs and Cloud Computing Arrangements	Internal-Use Software Development Costs and Cloud Computing Arrangements We expense costs associated with the assessment stage of software development projects. Capitalization begins when the preliminary project stage has been completed and management with the relevant authority authorizes and commits to the funding of the project. These capitalized costs include external direct costs utilized in developing or obtaining the applications and payroll and payroll-related costs for employees who are directly associated with the development of the applications. We expense the personnel-related costs of training and data conversion. We also expense costs associated with the post-implementation and operation stage, including maintenance and specified upgrades; however, we capitalize internal and external costs associated with significant upgrades to existing systems that result in additional functionality. Cloud computing arrangement costs follow the internal-use software accounting guidance to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized internal-use software development costs are generally amortized over periods ranging from four years to seven years on a straight-line basis, which best represents the pattern of the software’s use. Capitalized implementation costs related to a service contract will be amortized over the term of the hosting arrangement beginning when the component of the hosting arrangement is ready for its intended use. Periodically, we reassess the useful life considering technology, obsolescence, and other factors.
Income Taxes	Income Taxes We account for income taxes under the asset and liability method which includes the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our consolidated financial statements. Under this approach, deferred taxes are recorded for the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year plus deferred taxes. Deferred taxes result from differences between the financial statement and tax bases of our assets and liabilities, and are adjusted for changes in tax rates and tax laws when changes are enacted. The effects of future changes in income tax laws or rates are not anticipated. We are subject to income taxes in the United States and numerous foreign jurisdictions. The calculation of our income tax provision involves the application of complex tax laws and requires significant judgment and estimates. We evaluate the realizability of our deferred tax assets for each jurisdiction in which we operate at each reporting date, and establish valuation allowances when it is more likely than not that all or a portion of our deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income of the same character and in the same jurisdiction. We consider all available positive and negative evidence in making this assessment, including, but not limited to, the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies. In circumstances where there is sufficient negative evidence indicating that our deferred tax assets are not more-likely-than-not realizable, we establish a valuation allowance. We use a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate tax positions taken or expected to be taken in a tax return by assessing whether they are more-likely-than-not sustainable, based solely on their technical merits, upon examination and including resolution of any related appeals or litigation process. The second step is to measure the associated tax benefit of each position as the largest amount that we believe is more-likely-than-not realizable. Differences between the amount of tax benefits taken or expected to be taken in our income tax returns and the amount of tax benefits recognized in our financial statements represent our unrecognized income tax benefits, which we either record as a liability or as a reduction of deferred tax assets. Our policy is to include interest (expense and/or income) and penalties related to unrecognized income tax benefits as a component of the provision for income taxes.
Functional Currencies and Foreign Currency Transaction Gains and Losses	Functional Currencies and Foreign Currency Transaction Gains and Losses The functional currency for most of our foreign subsidiaries is the applicable local currency, although we have some subsidiaries with functional currencies that differ from their local currency, of which the most notable exception is our subsidiary in Israel, whose functional currency is the U.S. dollar. Transactions denominated in currencies other than a functional currency are converted to the functional currency on the transaction date, and any resulting assets or liabilities are further remeasured at each reporting date and at settlement. Gains and losses recognized upon such remeasurements are included within other income (expense), net in the consolidated statements of operations. We recorded net foreign currency losses of $1.6 million for each of the years ended January 31, 2022 and 2021, and net foreign currency gains of $0.7 million for the year ended January 31, 2020. For consolidated reporting purposes, in those instances where a foreign subsidiary has a functional currency other than the U.S. dollar, revenue and expenses are translated into U.S. dollars using average exchange rates for the reporting period, while assets and liabilities are translated into U.S. dollars using period-end rates. The effects of foreign currency translation adjustments are included in stockholders’ equity as a component of accumulated other comprehensive loss in the accompanying consolidated balance sheets.
Stock-Based Compensation	Stock-Based Compensation We recognize the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award. We recognize the fair value of the award as compensation expense over the period during which an employee is required to provide service in exchange for the award. For performance stock units for which vesting is in part dependent on total shareholder return, the fair value of the award is estimated on the date of grant using a Monte Carlo Simulation. Expected volatility and expected term are input factors for that model and may require significant management judgment. Expected volatility is estimated utilizing daily historical volatility for Verint common stock price and the constituents of the specific comparator index over a period commensurate with the remaining award performance period. The risk-free interest rate used is equal to the implied daily yield of the zero-coupon U.S. Treasury bill that corresponds with the remaining performance period of the award as of the valuation date.
Net Income (Loss) Per Common Share Attributable to Verint Systems Inc.	Net Income (Loss) Per Common Share Attributable to Verint Systems Inc. Basis net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders by the weighted-average common stock outstanding during the respective period. Net income (loss) attributable to common shareholders is computed by deducting both the dividends declared in the period on the Preferred Stock and the dividends accumulated for the period on the Preferred Stock from net income (loss). Shares used in the calculation of basic net income (loss) per common share include vested but unissued shares underlying awards of restricted stock units when all necessary conditions for earning those shares have been satisfied at the award’s vesting date, but exclude unvested shares of restricted stock because they are contingent upon future service conditions. Diluted net income per common share is computed by dividing net income attributable to common and common equivalent shareholders by the total of the weighted-average common stock outstanding and common equivalent shares outstanding during the respective period. The number of common equivalent shares outstanding has been determined in accordance with the if-converted method for the Preferred Stock and the treasury stock method for employee stock options and restricted stock units to the extend they are dilutive. Under the treasury stock method, the exercise price paid by the option holder and future share-based compensation expense that we have not yet recognized are assumed to be used to repurchase shares. Upon conversion of our 0.25% convertible senior notes due April 15, 2026 (the “2021 Notes”), further details for which appear in Note 8, “Long-Term Debt,” we are currently obligated to settle the principal amount of the 2021 Notes in cash upon conversion and as a result, only the amounts payable in excess of the principal amounts of the 2021 Notes, if any, are assumed to be settled with shares of common stock for purposes of computing diluted net income per share. In periods for which we report a net loss, basic net loss per common share and diluted net loss per common share are identical since the effect of potential common shares is anti-dilutive and therefore excluded.
Leases	Leases We determine if an arrangement is a lease at inception. Operating lease assets are presented as operating lease right-of-use (“ROU”) assets, and corresponding operating lease liabilities are presented within accrued expenses and other current liabilities (current portions), and as operating lease liabilities (long-term portions), on our consolidated balance sheets. Finance lease assets are included in property and equipment, and corresponding finance lease liabilities are included within accrued expenses and other current liabilities (current portions), and other liabilities (long-term portions), on our consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the remaining lease payments over the lease term at commencement date. Our leases do not provide an implicit interest rate. We calculate the incremental borrowing rate to reflect the interest rate that we would have to pay to borrow on a collateralized basis an amount equal to the lease payments in a similar economic environment over a similar term, and consider our historical borrowing activities and market data in this determination. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which we account for as a single lease component. Some of our leases contain variable lease payments, which are expensed as incurred unless those payments are based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement and included in the measurement of the lease liability; thereafter, changes to lease payments due to rate or index updates are recorded as rent expense in the period incurred. We have elected not to recognize ROU assets and lease liabilities for short-term leases that have a term of twelve months or less. The effect of short-term leases on our ROU assets and lease liabilities was not material. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. In addition, our related party leases and our sublease transactions are de minimis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements New Accounting Pronouncements Recently Adopted In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which affects general principles within Topic 740, Income Taxes. The new guidance simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the tax basis of goodwill after a business combination, and the recognition of deferred tax liabilities for outside basis differences. The new guidance also changes the calculation of the income tax impact of hybrid taxes and the methodology for calculating income taxes in an interim period. We adopted this standard as of February 1, 2021 on either a prospective basis, or through a modified retrospective approach, as required by the standard. There was no cumulative effect adjustment recorded to accumulated deficit as the amount was not material. The effects of this standard on our financial position, results of operations and cash flows were not material. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, ASU No. 2020-06 removes from GAAP the liability and equity separation model for convertible instruments with a cash conversion feature, and as a result, after adoption, entities will no longer separately present in equity an embedded conversion feature for such debt. ASU No. 2020-06 also eliminates the treasury stock method to calculate diluted earnings per share and requires the if-converted method for convertible instruments. We early adopted ASU No. 2020-06 as of February 1, 2021 using the modified retrospective transition method. Prior period financial statements have not been restated upon adoption. Upon adoption of ASU No. 2020-06, we no longer presented the conversion feature of our 1.50% convertible senior notes due June 1, 2021 (the “2014 Notes”), in equity. Instead, we combined the previously separated equity component with the liability component, which prior to maturity of the 2014 Notes, was classified as debt, thereby eliminating the subsequent amortization of the debt discount as interest expense. Similarly, the portion of issuance costs previously allocated to equity was reclassified to debt and amortized as interest expense until the 2014 Notes matured. Accordingly, we recorded a decrease to accumulated deficit of approximately $44.9 million, a decrease to additional paid-in capital of $43.4 million, a decrease to temporary equity of $4.8 million, an increase to current maturities of long-term debt of $4.4 million, a decrease to deferred tax liabilities of $0.9 million, and an increase in debt issuance costs of $0.1 million. There was no impact to earnings per share as a result of the adoption. New Accounting Pronouncements Not Yet Effective In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU No. 2020-04 provides optional expedients and exceptions for applying GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. In January 2021, the FASB issued Update 2021-01, Reference Rate Reform (Topic 848): Scope. The update provides additional optional guidance on the transition from LIBOR to include derivative instruments that use an interest rate for margining, discounting or contract price alignment. The standard will ease, if warranted, the requirements for accounting for the future effects of the rate reform. An entity may elect to apply the amendments prospectively through December 31, 2022. A portion of our indebtedness bears interest at variable interest rates, primarily based on euro-dollar LIBOR. We continue to monitor the impact of the discontinuance of LIBOR or another reference rate will have on our contracts, hedging relationships and other transactions. We are currently assessing the impact of this standard on our financial condition and results of operations. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. We do not expect the adoption of ASU No. 2021-04 to have any impact on our consolidated financial statements as the effect will largely depend on the terms of written call options or financings issued or modified in the future. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which will require companies to apply the definition of a performance obligation under ASC Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination. Under current GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. ASU No. 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2022

Accounting Policies [Abstract]

Summary of Activity in Allowance for Credit Losses

The following table summarizes the activity in our allowance for credit losses for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Allowance for credit losses, beginning of year	$	1,609	$	1,239	$	866
Cumulative effect of adoption of ASU No. 2016-13	—		577		—
Provisions charged to expense	1,242		1,899		1,211
Amounts written off	(1,666)		(1,931)		(1,024)
Other, including fluctuations in foreign exchange rates	75		(175)		186
Allowance for credit losses, end of year	$	1,260	$	1,609	$	1,239

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Jan. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table summarizes the major classes of line items included within discontinued operations in our consolidated statements of operations for the years ended January 31, 2021 and 2020:


	Year ended January 31,
(in thousands)	2021		2020
Revenue	$	443,458	$	457,109
Cost of revenue	128,043		159,603
Operating expenses	264,132		207,677
Other income, net	6,604		3,041
Income from discontinued operations before benefit from income taxes	57,887		92,870
Provision for income taxes	9,393		10,677
Net income from discontinued operations	48,494		82,193
Net income from discontinued operations attributable to noncontrolling interests	6,107		6,420
Net income from discontinued operations attributable to Verint Systems Inc. common shares	$	42,387	$	75,773


(in thousands)	January 31, 2021
Assets
Current Assets:
Cash and cash equivalents	$	78,570
Restricted cash and cash equivalents, and restricted bank time deposits	27,042
Short-term investments	4,713
Accounts receivable, net	175,001
Contract assets, net	20,317
Inventories	14,542
Prepaid expenses and other current assets	34,741
Total current assets of discontinued operations	354,926
Property and equipment, net	37,152
Operating lease right-of-use assets	31,040
Goodwill	158,183
Intangible assets, net	5,299
Deferred income taxes	7,202
Other assets	42,076
Total long-term assets of discontinued operations	280,952
Total assets of discontinued operations	$	635,878

Liabilities
Current Liabilities:
Accounts payable	$	41,512
Accrued expenses and other current liabilities	100,189
Contract liabilities	127,012
Total current liabilities of discontinued operations	268,713
Long-term contract liabilities	22,037
Operating lease liabilities	23,174
Deferred income taxes	3,985
Other liabilities	8,922
Total long-term liabilities of discontinued operations	58,118
Total liabilities of discontinued operations	$	326,831

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

REVENUE RECOGNITION (Tables)

12 Months Ended

Jan. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

•Recurring revenue primarily consists of:

◦Cloud revenue, which consists primarily of software as a service (“SaaS”) revenue and optional managed services revenue.

▪Bundled SaaS revenue is recognized over time.

◦Support revenue, which consists of initial and renewal support.

•Nonrecurring revenue primarily consists of our perpetual licenses, hardware, installation services, and business advisory consulting and training services.


	Year Ended January 31,
(in thousands)	2022		2021		2020
Recurring revenue
Bundled SaaS revenue	$	183,035	$	145,962	$	115,925
Unbundled SaaS revenue	139,729		71,990		48,018
Optional managed services revenue	65,648		59,459		56,534
Total cloud revenue	388,412		277,411		220,477
Support revenue	244,717		298,213		313,901
Total recurring revenue	633,129		575,624		534,378
Nonrecurring revenue
Perpetual revenue	138,078		141,840		179,882
Professional services revenue	103,302		112,783		132,265
Total nonrecurring revenue	241,380		254,623		312,147
Total revenue	$	874,509	$	830,247	$	846,525

Schedule of Contracts with Customers - Assets and Liabilities

The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers:


	January 31,
(in thousands)	2022		2021
Accounts receivable, net	$	193,831	$	206,157
Contract assets, net	$	42,688	$	36,716
Long-term contract assets, net (included in other assets)	$	30,510	$	17,210
Contract liabilities	$	271,271	$	261,033
Long-term contract liabilities	$	15,872	$	16,502

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table provides information about when we expect to recognize our remaining performance obligations:


	January 31,
(in thousands)	2022		2021
RPO:
Expected to be recognized within 1 year	$	447,428	$	405,714
Expected to be recognized in more than 1 year	274,404		229,951
Total RPO	$	721,832	$	635,665

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC. (Tables)

12 Months Ended

Jan. 31, 2022

Earnings Per Share [Abstract]

Schedule Of Calculation Of Basic And Diluted Net Income (Loss) Per Common Share Attributable To Verint Systems Inc.

The following table summarizes the calculation of basic and diluted net (loss) income per common share attributable to Verint Systems Inc. for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands, except per share amounts)	2022		2021		2020
Net income (loss) from continuing operations	$	15,651	$	(48,601)	$	(46,510)
Net income from discontinued operations	—		48,494		82,193
Net income (loss)	15,651		(107)		35,683
Net income attributable to noncontrolling interests from continuing operations	1,238		1,053		579
Net income attributable to noncontrolling interests from discontinued operations	—		6,107		6,420
Net income (loss) attributable to Verint Systems Inc.	14,413		(7,267)		28,684
Dividends on preferred stock	(18,922)		(7,656)		—
Net (loss) income attributable to Verint Systems Inc. for basic net (loss) income per common share	(4,509)		(14,923)		28,684
Dilutive effect of dividends on preferred stock	—		—		—
Net (loss) income attributable to Verint Systems Inc. for diluted net (loss) income per common share	$	(4,509)	$	(14,923)	$	28,684

Net (loss) income attributable to Verint Systems Inc. common shares
Net loss from continuing operations attributable to Verint Systems Inc. common shares	(4,509)		(57,310)		(47,089)
Net income from discontinued operations attributable to Verint Systems Inc. common shares	—		42,387		75,773

Weighted-average shares outstanding:
Basic	65,591		65,173		66,129
Dilutive effect of employee equity award plans	—		—		—


	Year Ended January 31,
(in thousands, except per share amounts)	2022		2021		2020
Dilutive effect of 2021 Notes	—		—		—
Dilutive effect of 2014 Notes	—		—		—
Dilutive effect of warrants	—		—		—
Dilutive effect of assumed conversion of preferred stock	—		—		—
Diluted	65,591		65,173		66,129

Basic net (loss) income per common share attributable to Verint Systems Inc.:
Continuing Operations	$	(0.07)	$	(0.88)	$	(0.71)
Discontinued Operations	—		0.65		1.14
Total basic net (loss) income per common share attributable to Verint Systems Inc.	$	(0.07)	$	(0.23)	$	0.43

Diluted net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations	$	(0.07)	$	(0.88)	$	(0.71)
Discontinued operations	—		0.65		1.14
Total diluted net (loss) income per common share attributable to Verint Systems Inc.	$	(0.07)	$	(0.23)	$	0.43

Schedule Of Anti-dilutive Securities


	Year Ended January 31,
(in thousands)	2022	2021	2020
Common shares excluded from calculation:
Stock options and restricted stock-based awards	1,580	1,337	2,126
2014 Notes	481	6,002	6,205
Warrants	117	6,205	6,205
Series A Preferred Stock	5,498	2,743	—
Series B Preferred Stock	3,282	—	—

CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS (Tables)

12 Months Ended

Jan. 31, 2022

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Schedule of Cash, Cash Equivalents and Short-term Investments

The following tables summarize our cash, cash equivalents, and short-term investments as of January 31, 2022 and 2021:


	January 31, 2022
(in thousands)	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash and bank time deposits	$	201,769	$	—	$	—	$	201,769
Money market funds	127,041		—		—		127,041
Commercial paper	29,995		—		—		29,995
Total cash and cash equivalents	$	358,805	$	—	$	—	$	358,805

Short-term investments:
Bank time deposits	$	765	$	—	$	—	$	765
Total short-term investments	$	765	$	—	$	—	$	765


	January 31, 2021
(in thousands)	Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash and cash equivalents:
Cash and bank time deposits	$	243,183	$	—	$	—	$	243,183
Money market funds	342,090		—		—		342,090
Total cash and cash equivalents	$	585,273	$	—	$	—	$	585,273

Short-term investments:
Bank time deposits	$	46,300	$	—	$	—	$	46,300
Total short-term investments	$	46,300	$	—	$	—	$	46,300

BUSINESS COMBINATIONS AND DIVESTITURES (Tables)

12 Months Ended

Jan. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocations

The following table sets forth the components and the allocation of the purchase price for our acquisition of Conversocial:


(in thousands)	Amount
Components of Purchase Price:
Cash	$	53,409
Other purchase price adjustments	(190)
Total purchase price	$	53,219

Allocation of Purchase Price:
Net tangible assets (liabilities):
Accounts receivable	$	1,694
Other current assets, including cash acquired	5,302
Other assets	511
Current and other liabilities	(1,945)
Contract liabilities - current and long-term	(3,410)
Deferred income taxes	(407)
Net tangible assets	1,745
Identifiable intangible assets:
Customer relationships	9,800
Developed technology	9,900
Trademarks and trade names	200
Total identifiable intangible assets	19,900
Goodwill	31,574
Total purchase price allocation	$	53,219


(in thousands)	Amount
Components of Purchase Prices:
Cash	$	57,355
Fair value of contingent consideration	8,230
Other purchase price adjustments	281
Total purchase prices	$	65,866

Allocation of Purchase Prices:
Net tangible assets (liabilities):
Accounts receivable	$	1,790
Other current assets, including cash acquired	6,590
Other assets	3,799
Current and other liabilities	(5,428)
Contract liabilities - current and long-term	(3,240)
Deferred income taxes	(2,719)
Net tangible assets	792
Identifiable intangible assets:
Customer relationships	11,847
Developed technology	13,083
Trademarks and trade names	1,000
Total identifiable intangible assets	25,930
Goodwill	39,144
Total purchase prices allocation	$	65,866

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Jan. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquisition-Related Intangible Assets


	January 31, 2022
(in thousands)	Cost		Accumulated Amortization		Net
Intangible assets with finite lives:
Customer relationships	$	467,408	$	(375,827)	$	91,581
Acquired technology	229,501		(203,895)		25,606
Trade names	5,677		(4,610)		1,067
Distribution network	2,440		(2,440)		—
Total intangible assets	$	705,026	$	(586,772)	$	118,254


	January 31, 2021
(in thousands)	Cost		Accumulated Amortization		Net
Intangible assets with finite lives:
Customer relationships	$	464,586	$	(356,064)	$	108,522
Acquired technology	222,040		(189,687)		32,353
Trade names	9,424		(6,555)		2,869
Distribution network	2,440		(2,440)		—
Total intangible assets	$	698,490	$	(554,746)	$	143,744

Schedule of Estimated Future Amortization Expense on Finite-lived Acquisition-related Intangible Assets

Estimated future amortization expense on finite-lived acquisition-related intangible assets is as follows:


(in thousands)
Years Ending January 31,	Amount
2023	$	40,479
2024	31,359
2025	14,978
2026	13,681
2027	9,733
Thereafter	8,024
Total	$	118,254

Schedule of Goodwill Activity

Goodwill activity for the years ended January 31, 2022, and 2021 was as follows:



(in thousands)	Total
Year Ended January 31, 2021:
Goodwill, gross, at January 31, 2020	$	1,367,111
Accumulated impairment losses through January 31, 2020	(56,043)
Goodwill, net, at January 31, 2020	1,311,068
Foreign currency translation and other	16,339
Goodwill, net, at January 31, 2021	$	1,327,407

Year Ended January 31, 2022:
Goodwill, gross, at January 31, 2021	$	1,383,450
Accumulated impairment losses through January 31, 2021	(56,043)
Goodwill, net, at January 31, 2021	1,327,407
Business combinations	36,006
Foreign currency translation and other	(9,992)
Goodwill, net, at January 31, 2022	$	1,353,421

Balance at January 31, 2022
Goodwill, gross, at January 31, 2022	$	1,409,464
Accumulated impairment losses through January 31, 2022	(56,043)
Goodwill, net, at January 31, 2022	$	1,353,421

LONG-TERM DEBT (Tables)

12 Months Ended

Jan. 31, 2022

Debt Disclosure [Abstract]

Summary of Long-term Debt

The following table summarizes our long-term debt at January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
2021 Notes	$	315,000	$	—
2014 Notes	—		386,887
2017 Term Loan	100,000		410,125
Less: Unamortized debt discounts and issuance costs	(8,046)		(7,518)
Total debt	406,954		789,494
Less: current maturities	—		386,713
Long-term debt	$	406,954	$	402,781

Schedule of Components of Interest Expense


	Year Ended January 31,
(in thousands)	2022		2021		2020
2021 Notes:
Interest expense at 0.25% coupon rate	$	639	$	—	$	—
Amortization of deferred debt issuance costs	1,416		—		—
Total Interest Expense - 2021 Notes	$	2,055	$	—	$	—

2014 Notes:
Interest expense at 1.50% coupon rate	$	1,933	$	5,887	$	6,000
Amortization of debt discount	—		12,884		12,490
Amortization of deferred debt issuance costs	522		1,215		1,177
Total Interest Expense - 2014 Notes	$	2,455	$	19,986	$	19,667

Borrowings under 2017 Credit Agreement:
Interest expense at contractual rates	$	3,366	$	13,018	$	18,021
Impact of interest rate swap agreement	1,014		4,368		792
Amortization of debt discounts	18		74		68
Amortization of deferred debt issuance costs	930		1,811		1,569
Total Interest Expense - Borrowings under 2017 Credit Agreement	$	5,328	$	19,271	$	20,450

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION (Tables)

12 Months Ended

Jan. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Raw materials	$	3,001	$	2,768
Work-in-process	150		26
Finished goods	2,186		2,747
Total inventories	$	5,337	$	5,541

Schedule of Property and Equipment, net

Property and equipment, net consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Land and buildings	$	7,994	$	8,124
Leasehold improvements	18,155		23,153
Software	76,152		61,871
Equipment, furniture, and other	64,363		66,444
Total cost	166,664		159,592
Less: accumulated depreciation and amortization	(102,574)		(90,502)
Total property and equipment, net	$	64,090	$	69,090

Schedule of Prepaid Expenses and Other Current Assets

Prepaid and other current assets consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Prepaid expenses	$	22,639	$	23,125
Other current assets	31,107		19,689
Total prepaid expenses and other current assets	$	53,746	$	42,814

Schedule of Other Assets

Other assets consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Deferred commissions	$	51,714	$	46,379
Long-term contract assets, net	30,510		17,210
Capitalized software development costs, net	22,483		19,250
Long-term deferred cost of revenue	5,907		6,316
Noncontrolling equity investments	5,146		2,034
Deferred debt issuance costs, net	1,950		1,449
Long-term security deposits	702		567
Long-term restricted cash and time deposits	409		651
Other	7,817		3,368
Total other assets	$	126,638	$	97,224

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Compensation and benefits	$	86,777	$	77,942
Operating lease obligations - current portion	24,551		14,230
Taxes other than income taxes	16,313		21,764
Preferred Stock dividends payable	10,400		5,200
Contingent consideration - current portion	7,776		9,595
Professional and consulting fees	3,771		4,996
Income taxes	602		1,514
Fair value of future tranche right	—		52,772
Other	18,504		23,504
Total accrued expenses and other current liabilities	$	168,694	$	211,517

Schedule of Other Liabilities

Other liabilities consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Unrecognized tax benefits, including interest and penalties	$	16,345	$	14,441
Finance lease obligations - long-term portion	3,831		2,969
Derivative financial instruments - long-term portion	—		13,565
Contingent consideration - long-term portion	—		6,109
Other	1,820		5,635
Total other liabilities	$	21,996	$	42,719

Schedule of Other Income (Expense), Net

Other income (expense), net consisted of the following for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Foreign currency (losses) gains, net	$	(1,644)	$	(1,584)	$	672
(Losses) gains on derivative financial instruments, net	(14,374)		(1,267)		204
Change in fair value of future tranche right	15,810		(56,146)		—
Other, net	5,435		(1,604)		(267)
Total other income (expense), net	$	5,227	$	(60,601)	$	609

Schedule of Supplemental Information Regarding Consolidated Cash Flows

The following table provides supplemental information regarding our consolidated cash flows for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Cash paid for interest	$	9,716	$	24,612	$	23,209
Cash payments of income taxes, net	$	42,917	$	21,476	$	14,859
Non-cash investing and financing transactions:
Liabilities for contingent consideration in business combinations	$	900	$	—	$	8,230
Preferred Stock dividends declared	$	10,400	$	5,200	$	—
Finance leases of property and equipment	$	4,041	$	903	$	3,287
Settlement of Future Tranche Right upon issuance of Series B Preferred Stock	$	36,962	$	—	$	—
Retirement of treasury stock	$	234,999	$	—	$	—
Settlement of convertible note premium with common stock	$	59,131	$	—	$	—
Receipt of common stock from the counterparties under the Note Hedges	$	59,651	$	—	$	—
Accrued but unpaid purchases of property and equipment	$	750	$	2,731	$	962
Accrued but unpaid purchases of treasury stock	$	—	$	—	$	2,846
Leasehold improvements funded by lease incentives	$	—	$	119	$	2,604
Contingent receivable in exchange for sale of subsidiary	$	—	$	—	$	738

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 31, 2022

Stockholders' Equity Note [Abstract]

Summary of Components of Accumulated Other Comprehensive Income (Loss)

The following table summarizes changes in the components of our accumulated other comprehensive income (loss) by component for the years ended January 31, 2022 and 2021:


(in thousands)	Unrealized Gains (Losses) on Foreign Exchange Contracts Designated as Hedges		Unrealized Losses on Interest Rate Swap Designated as Hedge		Foreign Currency Translation Adjustments		Total
Accumulated other comprehensive income (loss) at January 31, 2020	$	626	$	(10,528)	$	(141,963)	$	(151,865)
Other comprehensive income (loss) before reclassifications	1,869		(5,916)		17,482		13,435
Amounts reclassified out of accumulated other comprehensive income (loss) from continuing operations	225		(3,413)		—		(3,188)
Amounts reclassified out of accumulated other comprehensive income (loss) from discontinued operations	1,636		—		—		1,636
Net other comprehensive income (loss)	8		(2,503)		17,482		14,987
Accumulated other comprehensive income (loss) at January 31, 2021	634		(13,031)		(124,481)		(136,878)
Distribution of Cognyte Software Ltd.	(559)		—		17,682		17,123
Other comprehensive income (loss) before reclassifications	70		—		(11,668)		(11,598)
Amounts reclassified out of accumulated other comprehensive income (loss)	193		(1,014)		—		(821)
Amounts reclassified upon partial early retirement of the 2017 Term Loan	—		(12,017)		—		(12,017)
Net other comprehensive (loss) income	(682)		13,031		6,014		18,363
Accumulated other comprehensive loss at January 31, 2022	$	(48)	$	—	$	(118,467)	$	(118,515)

Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)


	Year Ended January 31,						Financial Statement Location
(in thousands)	2022		2021		2020
Unrealized gains (losses) on derivative financial instruments:
Foreign currency forward contracts	$	1	$	1	$	(3)	Cost of recurring revenue
	24		28		5		Cost of nonrecurring revenue
	142		182		42		Research and development, net
	65		56		20		Selling, general and administrative
	232		267		64		Total, before income taxes
	(39)		(42)		(6)		Provision for income taxes
	$	193	$	225	$	58	Total, net of income taxes

Interest rate swap agreement	$	(1,014)	$	(4,367)	$	(792)	Interest expense
	(15,655)		—		—		Other income (expense), net
	(16,669)		(4,367)		(792)		Total, before income taxes
	3,638		954		175		Benefit from income taxes
	$	(13,031)	$	(3,413)	$	(617)	Total, net of income taxes

RESEARCH AND DEVELOPMENT, NET (Tables)

12 Months Ended

Jan. 31, 2022

Research and Development [Abstract]

Activity of Capitalized Software Development Costs

Activity for our capitalized software development costs for the years ended January 31, 2022, 2021, and 2020 was as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Capitalized software development costs, net, beginning of year	$	19,250	$	15,351	$	7,266
Software development costs capitalized during the year	7,560		7,312		9,584
Amortization of capitalized software development costs	(4,247)		(3,304)		(1,538)
Write-offs of capitalized software development costs	—		(129)		—
Foreign currency translation and other	(80)		20		39
Capitalized software development costs, net, end of year	$	22,483	$	19,250	$	15,351

INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Provision for Income Taxes

The components of income (loss) before provision for income taxes for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Domestic	$	(12,492)	$	127,909	$	(46,896)
Foreign	51,996		(169,573)		7,329
Total income (loss) before provision for income taxes	$	39,504	$	(41,664)	$	(39,567)

Schedule of Provision for Income Taxes

The provision for income taxes from continuing operations for the years ended January 31, 2022, 2021, and 2020 consisted of the following:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Current provision for income taxes:
Federal	$	3,215	$	373	$	7,204
State	1,121		1,663		974
Foreign	30,840		6,299		3,049
Total current provision for income taxes	35,176		8,335		11,227
Deferred provision for (benefit from) income taxes:
Federal	6,714		1,366		(4,430)
State	255		(188)		862
Foreign	(18,292)		(2,576)		(716)
Total deferred benefit from income taxes	(11,323)		(1,398)		(4,284)
Total provision for income taxes from continuing operations	$	23,853	$	6,937	$	6,943

Reconciliation of the U.S. Federal Statutory Rate to the Entity's Effective Tax Rate on Income (Loss) Before Income Taxes


	Year Ended January 31,
(in thousands)	2022			2021			2020
U.S. federal statutory income tax rate	21.0		%	21.0		%	21.0		%

Income tax provision (benefit) at the U.S. federal statutory rate	$	8,296		$	(8,733)		$	(8,307)
State income tax (benefit) provision	(1,238)			2,017			106
Foreign tax rate differential	6,262			5,992			10,134
Tax incentives	(6,378)			(2,681)			(6,224)
Valuation allowances	2,616			(3,269)			2,311
Stock-based and other compensation	897			2,958			(926)
Non-deductible expenses	(238)			(1,007)			1,127
Tax credits	117			875			266
Tax contingencies	2,108			(5,652)			161
Change in fair value of future tranche right	(3,320)			11,791			—
Changes in tax laws	1,552			—			—
U.S. tax effects of foreign operations	13,480			3,828			8,299
Other, net	(301)			818			(4)
Total provision for income taxes	$	23,853		$	6,937		$	6,943
Effective income tax rate	60.4		%	(16.6)		%	(17.5)		%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities from continuing operations consisted of the following at January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
Deferred tax assets:
Accrued expenses	$	4,464	$	5,383
Operating lease liabilities	9,275		11,040
Fair value of derivatives	—		4,149
Loss carryforwards	21,764		17,672
Tax credits	5,780		5,946
Stock-based and other compensation	6,802		7,434
Total deferred tax assets	48,085		51,624
Deferred tax liabilities:
Deferred cost of revenue	(8,457)		(5,100)
Goodwill and other intangible assets	(20,810)		(29,876)
Unremitted earnings of foreign subsidiaries	(970)		(14,882)
Operating lease right-of-use assets	(4,959)		(8,569)
Other, net	(1,547)		(2,140)
Total deferred tax liabilities	(36,743)		(60,567)
Valuation allowance	(20,711)		(16,761)
Net deferred tax liabilities	$	(9,369)	$	(25,704)

Recorded as:
Deferred tax assets	$	8,091	$	7,287
Deferred tax liabilities	(17,460)		(32,991)
Net deferred tax liabilities	$	(9,369)	$	(25,704)

Schedule of Valuation Allowance

Activity in the recorded valuation allowance consisted of the following for the years ended January 31, 2022 and 2021:


	Year Ended January 31,
(in thousands)	2022		2021
Valuation allowance, beginning of year	$	(16,761)	$	(19,512)
Income tax (provision) benefit	(2,616)		3,269
Fair value of derivatives and convertible debt instruments	(1,139)		—
Currency translation adjustment and other	(195)		(518)
Valuation allowance, end of year	$	(20,711)	$	(16,761)

Schedule of Aggregate Changes in the Balance of Gross Unrecognized Tax Benefits

For the years ended January 31, 2022, 2021, and 2020, the aggregate changes in the balance of gross unrecognized tax benefits were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Gross unrecognized tax benefits, beginning of year	$	84,847	$	85,327	$	86,312
Increases related to tax positions taken during the current year	672		706		575
Increases related to tax positions taken during prior years	430		—		147
Increases related to foreign currency exchange rates	45		136		146
Reductions for tax positions of prior years	(152)		(193)		(1,555)
Lapses of statutes of limitations	(1,613)		(1,129)		(298)
Gross unrecognized tax benefits, end of year	$	84,229	$	84,847	$	85,327

Schedule of Income Tax Returns Under Examination in Major Tax Jurisdictions

As of January 31, 2022, income tax returns are under examination in the following significant tax jurisdictions:


Jurisdiction						Tax Years
United Kingdom						December 31, 2006, January 31, 2008
India						March 31, 2008, March 31, 2010 - March 31, 2013, March 31, 2017, March 31, 2020
Israel						January 31, 2018 - January 31, 2020

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jan. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities measured at fair value on a recurring basis consisted of the following as of January 31, 2022 and 2021:


	January 31, 2022
	Fair Value Hierarchy Category
(in thousands)	Level 1		Level 2		Level 3
Assets:
Money market funds	$	127,041	$	—	$	—
Commercial paper, classified as cash and cash equivalents	—		29,995		—
Foreign currency forward contracts	—		33		—
Contingent consideration receivable	—		—		271
Total assets	$	127,041	$	30,028	$	271
Liabilities:
Foreign currency forward contracts	$	—	$	91	$	—
Contingent consideration — business combinations	—		7,776		—
Total liabilities	$	—	$	7,867	$	—


	January 31, 2021
	Fair Value Hierarchy Category
(in thousands)	Level 1		Level 2		Level 3
Assets:
Money market funds	$	342,090	$	—	$	—
Foreign currency forward contracts	—		136		—
Contingent consideration receivable	—		—		565
Total assets	$	342,090	$	136	$	565
Liabilities:
Foreign currency forward contracts	$	—	$	48	$	—
Interest rate swap agreements	—		17,881		—
Future tranche right	—		—		52,772
Contingent consideration — business combinations	—		—		15,704
Option to acquire noncontrolling interests of consolidated subsidiaries	—		—		3,250
Total liabilities	$	—	$	17,929	$	71,726

Schedule of Changes in the Estimated Fair Value Using Significant Unobservable Inputs (Level 3)


	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	(52,772)	$	—
Fair value of future tranche right upon issuance of the Series A Preferred Stock	—		3,374
Change in fair value, recorded in other income (expense), net	15,810		(56,146)
Reclassification of future tranche right liability upon settlement	36,962		—
Fair value measurement, end of year	$	—	$	(52,772)



	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	15,704	$	31,367
Contingent consideration liabilities recorded for business combinations	900		—
Changes in fair values, recorded in operating expenses	883		(806)
Payments of contingent consideration	(9,560)		(15,183)
Foreign currency translation and other	(151)		326
Transfer of contingent consideration liability to Level 2 of the fair value hierarchy	(7,776)		—
Fair value measurement, end of year	$	—	$	15,704

The following table presents the change in the estimated fair value of this liability, which is measured using Level 3 inputs, for the years ended January 31, 2022 and 2021:



	Year Ended January 31,
(in thousands)	2022		2021
Fair value measurement, beginning of year	$	3,250	$	2,900
Change in fair value, recorded in operating expenses	1,245		350
Amount paid upon exercise of option to acquire noncontrolling interests of consolidated subsidiaries	(4,495)		—
Fair value measurement, end of year	$	—	$	3,250

Fair Value Measurement Inputs and Valuation Techniques

Significant inputs and assumptions used in the valuation model immediately prior to the settlement date, April 6, 2021, and as of January 31, 2021, are as follows:


	April 6,			January 31,
	2021			2021
Risk-free interest rate for preferred stock	2.35		%	1.86		%
Implied credit spread	6.78		%	6.78		%
Expected volatility	30.00		%	30.00		%
Verint common stock price	$	45.91		$	73.83

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Jan. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Financial Instruments

The fair values of our derivative financial instruments and their classifications in our consolidated balance sheets as of January 31, 2022 and 2021 were as follows:


		January 31,
(in thousands)	Balance Sheet Classification	2022		2021
Derivative assets:
Foreign currency forward contracts:
Designated as cash flow hedges	Prepaid expenses and other current assets	$	33	$	136
Total derivative assets		$	33	$	136

Derivative liabilities:
Foreign currency forward contracts:
Designated as cash flow hedges	Accrued expenses and other current liabilities	$	91	$	47
Not designated as hedging instruments	Accrued expenses and other current liabilities	—		1
Interest rate swap agreements:
Not designated as a hedging instrument	Accrued expenses and other current liabilities	—		4,316
Not designated as a hedging instrument	Other liabilities	—		13,565
Total derivative liabilities		$	91	$	17,929

Schedule of the Effects of Derivative Financial Instruments Designated as Cash Flow Hedging Instruments


	Year Ended January 31,
(in thousands)	2022		2021		2020
Net gains (losses) recognized in AOCL:
Foreign currency forward contracts	$	85	$	323	$	289
Interest rate swap agreement	—		(7,535)		(10,265)
	$	85	$	(7,212)	$	(9,976)
Net (losses) gains reclassified from AOCL to the consolidated statements of operations:
Foreign currency forward contracts	$	232	$	267	$	64
Interest rate swap agreement	(16,669)		(4,367)		(792)
	$	(16,437)	$	(4,100)	$	(728)

Schedule of Gains (Losses) Recognized on Derivative Financial Instruments Not Designated as Hedging Instruments


	Classification in Consolidated Statements of Operations	Year Ended January 31,
(in thousands)		2022		2021		2020
Foreign currency forward contracts	Other income (expense), net	$	—	$	—	$	251
Interest rate swap agreements	Other income (expense), net	(14,374)		(1,267)		(48)
		$	(14,374)	$	(1,267)	$	203

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS (Tables)

12 Months Ended

Jan. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

We recognized stock-based compensation expense in the following line items on the consolidated statements of operations for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Component of income before provision for income taxes:
Cost of revenue — recurring	$	1,999	$	1,109	$	2,100
Cost of revenue — nonrecurring	3,029		2,184		3,316
Research and development, net	7,565		3,918		7,212
Selling, general and administrative	52,672		37,989		52,211
Total stock-based compensation expense	65,265		45,200		64,839
Income tax benefits related to stock-based compensation (before consideration of valuation allowances)	10,615		6,684		7,357
Total stock-based compensation, net of taxes	$	54,650	$	38,516	$	57,482

Summary of Stock-based Compensation Expense by Type of Award

The following table summarizes stock-based compensation expense by type of award for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Restricted stock units and restricted stock awards	$	58,678	$	47,598	$	49,475
Stock bonus program and bonus share program	6,568		(2,390)		15,327
Total equity-settled awards	65,246		45,208		64,802
Phantom stock units (cash-settled awards)	19		(8)		37
Total stock-based compensation expense	$	65,265	$	45,200	$	64,839

Schedule of RSU Activity


	Year Ended January 31,
	2022			2021			2020
(in thousands, except grant date fair values)	Shares or Units	Weighted-Average Grant-Date Fair Value		Shares or Units	Weighted-Average Grant-Date Fair Value		Shares or Units	Weighted-Average Grant-Date Fair Value
Beginning balance	2,950	$	35.97	1,879	$	52.96	1,877	$	40.98
Granted	1,540	$	48.01	1,469	$	47.30	1,157	$	59.89
Released	(1,800)	$	36.14	(1,125)	$	47.53	(1,009)	$	39.76
Forfeited	(236)	$	40.23	(206)	$	52.59	(146)	$	45.07
Ending balance	2,454	$	42.99	2,017	$	51.90	1,879	$	52.96

Schedule of Performance Share Activity


	Year Ended January 31,
(in thousands)	2022	2021	2020
Beginning balance	743	423	414
Granted	212	297	237
Released	(381)	(182)	(200)
Forfeited	(27)	(27)	(28)
Ending balance	547	511	423

Summary of Key Data for Stock Bonus Program


	Year Ended January 31,
(in thousands)	2022	2021	2020
Shares in lieu of cash bonus — granted and released (not included in the Award Activity Table above)	—	32	97
Shares in respect of discount (included in the Award Activity Table above):
Granted	—	—	16
Released	—	3	13

LEASES (Tables)

12 Months Ended

Jan. 31, 2022

Leases [Abstract]

Schedule of Lease Expenses

The components of lease expenses for the years ended January 31, 2022, 2021, and 2020 were as follows:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Operating lease expenses	$	24,241	$	28,617	$	26,583
Finance lease expenses:
Amortization of right-of-use assets	3,223		2,295		581
Interest on lease liabilities	260		312		204
Total finance lease expenses	3,483		2,607		785
Variable lease expenses	6,344		5,504		5,609
Short-term lease expenses	1,055		584		657
Sublease income	(1,804)		(966)		(908)
Total lease expenses	$	33,319	$	36,346	$	32,726

Schedule of Supplemental Cash Flow Information Related to Leases

Other information related to leases was as follows:


	Year Ended January 31,
(dollars in thousands)	2022			2021			2020
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	19,360		$	21,243		$	20,083
Operating cash flows from finance leases	260			312			204
Financing cash flows from finance leases	3,189			2,389			1,930
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,282		$	7,619		$	17,843
Finance leases	4,041			903			3,288
Weighted average remaining lease terms
Operating leases	3 years			6 years			6 years
Finance leases	3 years			3 years			3 years
Weighted average discount rates
Operating leases	4.8		%	5.8		%	5.7		%
Finance leases	3.8		%	4.0		%	5.1		%

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities as of January 31, 2022 were as follows:


	January 31, 2022
(in thousands)	Operating Leases		Finance Leases
Year Ending January 31,
2023	$	26,526	$	2,804
2024	9,808		2,017
2025	8,221		1,418
2026	5,056		550
2027	4,312		19
Thereafter	5,423		—
Total future minimum lease payments	59,346		6,808
Less: imputed interest	(6,338)		(348)
Total	$	53,008	$	6,460

Reported as of January 31, 2022:
Accrued expenses and other current liabilities	$	24,551	$	2,629
Operating lease liabilities	28,457		—
Other liabilities	—		3,831
Total	$	53,008	$	6,460

Schedule of Maturities of Finance Lease Liabilities

Maturities of lease liabilities as of January 31, 2022 were as follows:


	January 31, 2022
(in thousands)	Operating Leases		Finance Leases
Year Ending January 31,
2023	$	26,526	$	2,804
2024	9,808		2,017
2025	8,221		1,418
2026	5,056		550
2027	4,312		19
Thereafter	5,423		—
Total future minimum lease payments	59,346		6,808
Less: imputed interest	(6,338)		(348)
Total	$	53,008	$	6,460

Reported as of January 31, 2022:
Accrued expenses and other current liabilities	$	24,551	$	2,629
Operating lease liabilities	28,457		—
Other liabilities	—		3,831
Total	$	53,008	$	6,460

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION (Tables)

12 Months Ended

Jan. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The information below summarizes revenue from unaffiliated customers by geographic area for the years ended January 31, 2022, 2021, and 2020:


	Year Ended January 31,
(in thousands)	2022		2021		2020
Americas:
United States	$	552,680	$	515,480	$	539,586
Other	48,043		54,470		49,489
Total Americas	600,723		569,950		589,075
EMEA:
United Kingdom	100,606		100,855		100,107
Other	79,560		72,361		68,835
Total EMEA	180,166		173,216		168,942
APAC	93,620		87,081		88,508
Total revenue	$	874,509	$	830,247	$	846,525

Property and equipment, net by geographic area consisted of the following as of January 31, 2022 and 2021:


	January 31,
(in thousands)	2022		2021
United States	$	50,241	$	51,537
United Kingdom	9,225		11,345
Other countries	4,624		6,208
Total property and equipment, net	$	64,090	$	69,090

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Jan. 31, 2022

Selected Quarterly Financial Information [Abstract]

Quarterly Financial Information

Summarized condensed quarterly financial information for the years ended January 31, 2022 and 2021 appears in the following tables:


	Three Months Ended
(in thousands, except per share data)	April 30, 2021		July 31, 2021		October 31, 2021		January 31, 2022
Revenue	$	200,904	$	214,617	$	224,820	$	234,168
Gross profit	$	128,564	$	142,050	$	152,736	$	152,587
Income from continuing operations before provision for income taxes	$	1,022	$	9,517	$	22,850	$	6,115
Net income (loss) from continuing operations	$	1,094	$	5,316	$	13,501	$	(4,260)
Net income (loss) attributable to Verint Systems Inc.	$	799	$	5,000	$	13,237	$	(4,623)
Net (loss) income attributable to Verint Systems Inc. common shares	$	(2,523)	$	(200)	$	8,037	$	(9,823)

Net (loss) income from continuing operations attributable to Verint Systems Inc. common shares
Basic	$	(0.04)	$	—	$	0.12	$	(0.15)
Diluted	$	(0.04)	$	—	$	0.12	$	(0.15)


	Three Months Ended
(in thousands, except per share data)	April 30, 2020		July 31, 2020		October 31, 2020		January 31, 2021
Revenue	$	185,865	$	204,080	$	215,222	$	225,080
Gross profit	$	114,962	$	137,179	$	141,350	$	149,205
Loss from continuing operations before provision for income taxes	$	(14,071)	$	(1,025)	$	(1,017)	$	(25,551)
Net loss from continuing operations	$	(14,418)	$	(9,370)	$	(2,101)	$	(22,712)
Net (loss) income attributable to Verint Systems Inc.	$	(6,014)	$	8,494	$	10,175	$	(19,922)
Net loss from continuing operations attributable to Verint Systems Inc. common shares	$	(14,658)	$	(12,181)	$	(5,068)	$	(25,403)
Net income from discontinued operations attributable to Verint Systems Inc. common shares	$	8,644	$	18,191	$	12,585	$	2,967

Net loss per common share attributable to Verint Systems Inc. from continuing operations
Basic	$	(0.23)	$	(0.19)	$	(0.08)	$	(0.39)
Diluted	$	(0.23)	$	(0.18)	$	(0.08)	$	(0.39)

Net income per common share attributable to Verint Systems Inc. from discontinued operations
Basic	$	0.14	$	0.28	$	0.19	$	0.05
Diluted	$	0.14	$	0.27	$	0.19	$	0.05

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Description of Business (Details) organization in Thousands	12 Months Ended
	Jan. 31, 2022 organization country office
Accounting Policies [Abstract]
Percentage of fortune 100 companies as customers	85.00%
Number of organizations as customer \| organization	10
Number of countries customers located \| country	175
Number of offices \| office	30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Developments (Details) $ / shares in Units, $ in Millions					12 Months Ended
	Apr. 06, 2021 USD ($)	Feb. 01, 2021 $ / shares shares	May 07, 2020 USD ($)	Dec. 04, 2019 USD ($)	Jan. 31, 2022 subsidiary $ / shares	Jan. 31, 2021 $ / shares
Description of Business [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.001			$ 0.001	$ 0.001
Spin-off transaction, number of shares received (in shares) \| shares		1
Percentage ownership of outstanding shares					12.90%
Number of majority owned subsidiaries acquired \| subsidiary					2
Convertible Preferred Stock
Description of Business [Line Items]
Sale of stock, consideration received on transaction				$ 400.0
Series A Preferred Stock
Description of Business [Line Items]
Sale of stock, consideration received on transaction			$ 200.0
Series B Preferred Stock
Description of Business [Line Items]
Sale of stock, consideration received on transaction	$ 200.0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investments (Details)	12 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Minimum maturity period of short term investments in time deposits (in days)	90 days

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentrations Of Credit Risk (Details) - Largest Customer	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentrations of credit risk, percentage	14.00%	14.00%
Contract Assets \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentrations of credit risk, percentage	14.00%	14.00%
Total Revenue \| Revenue from Rights Concentration Risk
Concentration Risk [Line Items]
Concentrations of credit risk, percentage		10.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance For Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	$ 1,609	$ 1,239	$ 866
Provisions charged to expense	1,242	1,899	1,211
Amounts written off	(1,666)	(1,931)	(1,024)
Other, including fluctuations in foreign exchange rates	75	(175)	186
Allowance for credit losses, end of year	1,260	1,609	1,239
Cumulative Effect, Period of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning of year	$ 0	577	0
Allowance for credit losses, end of year		$ 0	$ 577

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property And Equipment, Net (Details)	12 Months Ended
	Jan. 31, 2022
Equipment, furniture, and other \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	3 years
Equipment, furniture, and other \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	7 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	4 years
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	10 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives, (in years)	25 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Business Segment Information (Details) - segment	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Accounting Policies [Abstract]
Number of operating segments		2
Number of reportable segments	1	2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill And Other Acquired Intangible Assets (Details)	12 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Estimated useful lives of finite-lived intangible assets (in years)	10 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Software Development Costs (Details)	12 Months Ended
	Jan. 31, 2022
Software Development Costs
Software Development Costs
Estimated useful lives, (in years)	5 years
Internal-Use Software \| Minimum
Software Development Costs
Estimated useful lives, (in years)	4 years
Internal-Use Software \| Maximum
Software Development Costs
Estimated useful lives, (in years)	7 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Foreign Currency Transaction Gains And Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Accounting Policies [Abstract]
Foreign currency (losses) gains, net	$ (1,644)	$ (1,584)	$ 672

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Income (Loss) Per Common Share (Details)	Apr. 09, 2021
2021 Notes
Debt Conversion
Coupon interest rate	0.25%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - New Accounting Pronouncements Recently Adopted (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Feb. 01, 2021	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Jun. 18, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity	$ 954,579		$ 1,282,564	$ 1,242,437	$ 1,260,804
Decrease to temporary equity	(436,321)		(205,469)
Increase to current maturities of long-term debt	0		386,713
Decrease to deferred tax liabilities	(9,369)		(25,704)
2014 Notes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Coupon interest rate						1.50%
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity	(54,509)		(113,797)	(105,590)	(134,274)
Additional Paid-in Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity	$ 1,125,152		1,726,166	1,660,889	$ 1,586,266
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity			1,430	(940)
Decrease to temporary equity		$ 4,800
Increase to current maturities of long-term debt		4,400
Decrease to deferred tax liabilities		900
Increase to debt issuance costs		100
Cumulative Effect, Period of Adoption, Adjustment \| Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity		44,900	44,875	$ (940)
Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-in Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to stockholders' equity		$ (43,400)	$ (43,445)

DISCONTINUED OPERATIONS - Additional Information (Details) - Discontinued Operations - Cognyte - USD ($) $ in Thousands		12 Months Ended
	Feb. 01, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 29, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Transition Services Agreement, term	24 months
Transition Services Agreement, amount invoiced to other party		$ 5,900
Transition Services Agreement, amount invoiced from other party		$ 1,100
Accumulated other comprehensive income, net of tax transferred	$ 17,100
Dividends receivable				$ 35,000
Cash and cash equivalents			$ 78,570

DISCONTINUED OPERATIONS - Summary of Discontinued Operations in Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income from discontinued operations	$ 0	$ 48,494	$ 82,193
Discontinued Operations \| Cognyte
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		443,458	457,109
Cost of revenue		128,043	159,603
Operating expenses		264,132	207,677
Other income, net		6,604	3,041
Income from discontinued operations before benefit from income taxes		57,887	92,870
Provision for income taxes		9,393	10,677
Net income from discontinued operations		48,494	82,193
Net income from discontinued operations attributable to noncontrolling interests		6,107	6,420
Net income from discontinued operations attributable to Verint Systems Inc. common shares		$ 42,387	$ 75,773

DISCONTINUED OPERATIONS - Summary of Assets and Liabilities Transferred (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Current Assets:
Total current assets of discontinued operations	$ 0	$ 354,926
Long-term Assets
Total long-term assets of discontinued operations	0	280,952
Current Liabilities:
Total current liabilities of discontinued operations	0	268,713
Long-term Liabilities
Total long-term liabilities of discontinued operations	$ 0	58,118
Discontinued Operations \| Cognyte
Current Assets:
Cash and cash equivalents		78,570
Restricted cash and cash equivalents, and restricted bank time deposits		27,042
Short-term investments		4,713
Accounts receivable, net		175,001
Contract assets, net		20,317
Inventories		14,542
Prepaid expenses and other current assets		34,741
Total current assets of discontinued operations		354,926
Long-term Assets
Property and equipment, net		37,152
Operating lease right-of-use assets		31,040
Goodwill		158,183
Intangible assets, net		5,299
Deferred income taxes		7,202
Other assets		42,076
Total long-term assets of discontinued operations		280,952
Total assets of discontinued operations		635,878
Current Liabilities:
Accounts payable		41,512
Accrued expenses and other current liabilities		100,189
Contract liabilities		127,012
Total current liabilities of discontinued operations		268,713
Long-term Liabilities
Long-term contract liabilities		22,037
Operating lease liabilities		23,174
Deferred income taxes		3,985
Other liabilities		8,922
Total long-term liabilities of discontinued operations		58,118
Total liabilities of discontinued operations		$ 326,831

REVENUE RECOGNITION - Additional Information (Details)	12 Months Ended
REVENUE RECOGNITION - Additional Information (Details)	Jan. 31, 2022
Disaggregation of Revenue [Line Items]
Software maintenance, period	1 year
Software
Disaggregation of Revenue [Line Items]
Warranty period (in days/years)	90 days
Minimum
Disaggregation of Revenue [Line Items]
Unbundled contracts renewal term	1 year
Minimum \| Hardware
Disaggregation of Revenue [Line Items]
Warranty period (in days/years)	1 year
Maximum
Disaggregation of Revenue [Line Items]
Unbundled contracts renewal term	3 years
Maximum \| Hardware
Disaggregation of Revenue [Line Items]
Warranty period (in days/years)	3 years

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 234,168	$ 224,820	$ 214,617	$ 200,904	$ 225,080	$ 215,222	$ 204,080	$ 185,865	$ 874,509	$ 830,247	$ 846,525
Bundled SaaS revenue
Disaggregation of Revenue [Line Items]
Revenue									183,035	145,962	115,925
Unbundled SaaS revenue
Disaggregation of Revenue [Line Items]
Revenue									139,729	71,990	48,018
Optional managed services revenue
Disaggregation of Revenue [Line Items]
Revenue									65,648	59,459	56,534
Total cloud revenue
Disaggregation of Revenue [Line Items]
Revenue									388,412	277,411	220,477
Support revenue
Disaggregation of Revenue [Line Items]
Revenue									244,717	298,213	313,901
Recurring
Disaggregation of Revenue [Line Items]
Revenue									633,129	575,624	534,378
Perpetual revenue
Disaggregation of Revenue [Line Items]
Revenue									138,078	141,840	179,882
Professional services revenue
Disaggregation of Revenue [Line Items]
Revenue									103,302	112,783	132,265
Nonrecurring
Disaggregation of Revenue [Line Items]
Revenue									$ 241,380	$ 254,623	$ 312,147
Minimum
Disaggregation of Revenue [Line Items]
Unbundled contracts renewal term									1 year
Maximum
Disaggregation of Revenue [Line Items]
Unbundled contracts renewal term									3 years

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 193,831	$ 206,157
Contract assets, net	42,688	36,716
Long-term contract assets, net (included in other assets)	30,510	17,210
Contract liabilities	271,271	261,033
Long-term contract liabilities	$ 15,872	$ 16,502

REVENUE RECOGNITION - Contract Balances Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Concentration Risk [Line Items]
Accounts receivable from contract assets recognized at the beginning of each period	$ 37.7	$ 26.6
Contract Assets recognized in current period	57.4	43.7
Current period revenue recognized from beginning balance of contract liabilities	$ 247.9	$ 239.2
Accounts Receivable \| Customer Concentration Risk \| Largest Customer
Concentration Risk [Line Items]
Concentrations of credit risk, percentage	14.00%	14.00%
Contract Assets \| Customer Concentration Risk \| Largest Customer
Concentration Risk [Line Items]
Concentrations of credit risk, percentage	14.00%	14.00%

REVENUE RECOGNITION - Remaining Performance Obligations (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation	$ 721,832	$ 635,665
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation, period		1 year
Revenue performance obligation		$ 405,714
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation, period	1 year
Revenue performance obligation	$ 447,428	$ 229,951
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation, period
Revenue performance obligation	$ 274,404
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation, period	3 years

REVENUE RECOGNITION - Costs To Obtain And Fulfill Contracts (Details) - USD ($)	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Capitalized Contract Cost [Line Items]
Capitalized contract cost, impairment losses	$ 0	$ 0	$ 0
Sales Commission
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	55,800,000	48,400,000
Capitalized contract cost, amortization	33,100,000	26,100,000	26,200,000
Sales Commission \| Prepaid expenses and other current assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	3,900,000	2,000,000
Sales Commission \| Other Assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	51,900,000	46,400,000
Costs to Fulfill
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	6,100,000	6,500,000
Capitalized contract cost, amortization	3,200,000	2,700,000	$ 1,700,000
Costs to Fulfill \| Prepaid expenses and other current assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	200,000	200,000
Costs to Fulfill \| Other Assets
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	$ 5,900,000	$ 6,300,000
Maximum
Capitalized Contract Cost [Line Items]
Customer engagement contracts renewal period	6 years
Minimum
Capitalized Contract Cost [Line Items]
Customer engagement contracts renewal period	4 years

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC. - Calculation of Basic And Diluted Net (Loss) Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Net Income Attributable to Verint Systems Inc. [Abstract]
Net income (loss) from continuing operations	$ (4,260)	$ 13,501	$ 5,316	$ 1,094	$ (22,712)	$ (2,101)	$ (9,370)	$ (14,418)	$ 15,651	$ (48,601)	$ (46,510)
Net income from discontinued operations									0	48,494	82,193
Net income (loss)									15,651	(107)	35,683
Net income (loss) attributable to Verint Systems Inc.	(4,623)	13,237	5,000	799	(19,922)	10,175	8,494	(6,014)	14,413	(7,267)	28,684
Dividends on preferred stock									(18,922)	(7,656)	0
Net (loss) income attributable to Verint Systems Inc. for basic net (loss) income per common share	$ (9,823)	$ 8,037	$ (200)	$ (2,523)					(4,509)	(14,923)	28,684
Dilutive effect of dividends on preferred stock									0	0	0
Net (loss) income attributable to Verint Systems Inc. for diluted net (loss) income per common share									(4,509)	(14,923)	28,684
Net (loss) income attributable to Verint Systems Inc. common shares:
Net loss from continuing operations attributable to Verint Systems Inc. common shares					(25,403)	(5,068)	(12,181)	(14,658)	(4,509)	(57,310)	(47,089)
Net income from discontinued operations attributable to Verint Systems Inc. common shares					$ 2,967	$ 12,585	$ 18,191	$ 8,644	$ 0	$ 42,387	$ 75,773
Weighted-average shares outstanding:
Basic (in shares)									65,591	65,173	66,129
Dilutive effect of employee equity award plans (in shares)									0	0	0
Dilutive effect of warrants (in shares)									0	0	0
Dilutive effect of assumed conversion of preferred stock (in shares)									0	0	0
Diluted (in shares)									65,591	65,173	66,129
Basic net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations (in dollars per share)					$ (0.39)	$ (0.08)	$ (0.19)	$ (0.23)	$ (0.07)	$ (0.88)	$ (0.71)
Discontinued operations (in dollars per share)					0.05	0.19	0.28	0.14	0	0.65	1.14
Total basic net (loss) income per common share attributable to Verint Systems Inc. (in dollars per share)	$ (0.15)	$ 0.12	$ 0	$ (0.04)					(0.07)	(0.23)	0.43
Diluted net (loss) income per common share attributable to Verint Systems Inc.:
Continuing operations (in dollars per share)					(0.39)	(0.08)	(0.18)	(0.23)	(0.07)	(0.88)	(0.71)
Discontinued operations (in dollars per share)					$ 0.05	$ 0.19	$ 0.27	$ 0.14	0	0.65	1.14
Total diluted net (loss) income per common share attributable to Verint Systems Inc. (in dollars per share)	$ (0.15)	$ 0.12	$ 0	$ (0.04)					$ (0.07)	$ (0.23)	$ 0.43
2021 Notes
Weighted-average shares outstanding:
Dilutive effect of convertible senior notes (in shares)									0	0	0
2014 Notes
Weighted-average shares outstanding:
Dilutive effect of convertible senior notes (in shares)									0	0	0
Continuing Operations
Net Income Attributable to Verint Systems Inc. [Abstract]
Net income attributable to noncontrolling interests									$ 1,238	$ 1,053	$ 579
Discontinued Operations
Net Income Attributable to Verint Systems Inc. [Abstract]
Net income attributable to noncontrolling interests									$ 0	$ 6,107	$ 6,420

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC. - Schedule of Anti-dilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Stock options and restricted stock-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, (in shares)	1,580	1,337	2,126
2014 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, (in shares)	481	6,002	6,205
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, (in shares)	117	6,205	6,205
Series A Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, (in shares)	5,498	2,743	0
Series B Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, (in shares)	3,282	0	0

NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO VERINT SYSTEMS INC. - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions				5 Months Ended
	Apr. 06, 2021	May 07, 2020	Dec. 04, 2019	Jan. 21, 2022	Jan. 31, 2022	Apr. 09, 2021	Feb. 01, 2021	Jan. 31, 2021	Jun. 18, 2014
Class of Stock [Line Items]
Warrants outstanding (in shares)					0
Convertible Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction			$ 400.0
Series A Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Series A Preferred Stock \| Series A Private Placement
Class of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Series B Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0
Series B Preferred Stock \| Series B Private Placement
Class of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0
2021 Notes
Class of Stock [Line Items]
Conversion price (in dollars per share)	$ 62.08					$ 62.08
Capped calls, initial cap price (in dollars per share)	$ 100.00
2014 Notes
Class of Stock [Line Items]
Conversion price (in dollars per share)							$ 40.55	$ 64.46
Exercise price of warrants (in dollars per share)							$ 47.18		$ 75.00
Number of shares of common stock upon conversion							9,541,000	6,002,000
Warrants, number of underlying common shares (in shares)							9,865,000		6,205,000
Warrants issued (in shares)				293,143
Warrants exercised on a cashless basis (in shares)				5,031,000

CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents, cost basis	$ 358,805	$ 585,273
Cash and cash equivalents, fair value	358,805	585,273
Maturities and sales of investments	46,300	69,800	$ 5,800
Bank time deposits
Debt Securities, Available-for-sale [Line Items]
Cost Basis	765	46,300
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	765	46,300
Total short-term investments
Debt Securities, Available-for-sale [Line Items]
Cost Basis	765	46,300
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	765	46,300
Cash and bank time deposits
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents, cost basis	201,769	243,183
Cash and cash equivalents, fair value	201,769	243,183
Money market funds
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents, cost basis	127,041	342,090
Cash and cash equivalents, fair value	127,041	$ 342,090
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents, cost basis	29,995
Cash and cash equivalents, fair value	$ 29,995

BUSINESS COMBINATIONS AND DIVESTITURES - Conversocial Limited (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 23, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Business Acquisition
Cash paid for business combinations, including adjustments, net of cash acquired	$ 50,200	$ 57,024	$ 0	$ 55,403
Goodwill		$ 1,353,421	$ 1,327,407	$ 1,311,068
Finite-lived intangible asset, useful life (in years)		10 years
Conversocial Limited
Business Acquisition
Cash	53,409
Cash acquired from acquisition	3,200
Other purchase price adjustments	(190)
Goodwill	31,574
Business acquisition, goodwill deductible for income tax purposes	500
Business acquisition, goodwill not deductible for income tax purposes	31,100
Current and long-term contract liabilities	3,410
Component of the purchase price allocation	$ 1,200
Business acquisition related costs		$ 3,400
Weighted-average estimated useful life of all finite-lived identifiable intangible assets (in years)	5 years 10 months 24 days
Conversocial Limited \| Customer relationships
Business Acquisition
Finite-lived intangible asset, useful life (in years)	7 years
Conversocial Limited \| Developed technology
Business Acquisition
Finite-lived intangible asset, useful life (in years)	5 years
Conversocial Limited \| Trademarks and trade names
Business Acquisition
Finite-lived intangible asset, useful life (in years)	1 year
Conversocial Limited \| Prepaid expenses and other current assets
Business Acquisition
Component of the purchase price allocation	$ 700
Conversocial Limited \| Other Assets
Business Acquisition
Component of the purchase price allocation	$ 500

BUSINESS COMBINATIONS AND DIVESTITURES - Conversocial Limited - Schedule of Purchase Price allocation (Details) - USD ($) $ in Thousands	Aug. 23, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Business Acquisition
Goodwill		$ 1,353,421	$ 1,327,407	$ 1,311,068
Conversocial Limited
Business Acquisition
Cash	$ 53,409
Other purchase price adjustments	(190)
Total purchase prices	53,219
Accounts receivable	1,694
Other current assets, including cash acquired	5,302
Other assets	511
Current and other liabilities	(1,945)
Contract liabilities - current and long-term	(3,410)
Deferred income taxes	(407)
Net tangible assets	1,745
Identifiable intangible assets	19,900
Goodwill	31,574
Total purchase prices allocation	53,219
Conversocial Limited \| Customer relationships
Business Acquisition
Identifiable intangible assets	9,800
Conversocial Limited \| Developed technology
Business Acquisition
Identifiable intangible assets	9,900
Conversocial Limited \| Trademarks and trade names
Business Acquisition
Identifiable intangible assets	$ 200

BUSINESS COMBINATIONS AND DIVESTITURES - Business Combinations For Year Ended January 31, 2020 (Details) $ in Thousands		12 Months Ended
	Aug. 23, 2021 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($) business_combination
Business Acquisition
Number of businesses acquired \| business_combination				3
Cash paid for business combinations, including adjustments, net of cash acquired	$ 50,200	$ 57,024	$ 0	$ 55,403
Goodwill		$ 1,353,421	1,327,407	1,311,068
Estimated useful lives of finite-lived intangible assets (in years)		10 years
Individually Insignificant Business Combinations Year Ended January 31 2020
Business Acquisition
Total purchase prices				65,866
Cash				57,355
Cash acquired from acquisition				2,200
Cash paid for business combinations, including adjustments, net of cash acquired				55,200
Fair value of contingent consideration				8,230
Other purchase price adjustments				$ 281
Number of business combinations, with potential additional cash payments to former shareholders \| business_combination				2
Business combination, contingent consideration, liability				$ 14,300
Goodwill				39,144
Business acquisition, goodwill deductible for income tax purposes				15,700
Transaction and related costs, including integration costs			$ 1,300	$ 5,400
Weighted-average estimated useful life of all finite-lived identifiable intangible assets (in years)				6 years 4 months 24 days
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Minimum \| Customer relationships
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				7 years
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Minimum \| Developed technology
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				4 years
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Minimum \| Trademarks and trade names
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				4 years
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Maximum \| Customer relationships
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				9 years
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Maximum \| Developed technology
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				5 years
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Maximum \| Trademarks and trade names
Business Acquisition
Estimated useful lives of finite-lived intangible assets (in years)				5 years

BUSINESS COMBINATIONS AND DIVESTITURES - Business Combinations For Year Ended January 31, 2020 - Schedule of Purchase Price allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2020	Jan. 31, 2022	Jan. 31, 2021
Business Acquisition
Goodwill	$ 1,311,068	$ 1,353,421	$ 1,327,407
Individually Insignificant Business Combinations Year Ended January 31 2020
Business Acquisition
Cash	57,355
Fair value of contingent consideration	8,230
Other purchase price adjustments	281
Total purchase prices	65,866
Accounts receivable	1,790
Other current assets, including cash acquired	6,590
Other assets	3,799
Current and other liabilities	(5,428)
Contract liabilities - current and long-term	(3,240)
Deferred income taxes	(2,719)
Net tangible assets	792
Identifiable intangible assets	25,930
Goodwill	39,144
Total purchase prices allocation	65,866
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Customer relationships
Business Acquisition
Identifiable intangible assets	11,847
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Developed technology
Business Acquisition
Identifiable intangible assets	13,083
Individually Insignificant Business Combinations Year Ended January 31 2020 \| Trademarks and trade names
Business Acquisition
Identifiable intangible assets	$ 1,000

BUSINESS COMBINATIONS AND DIVESTITURES - Other Business Combination Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Business Acquisition
Changes in the fair values of contingent consideration obligations associated with business combinations	$ 0.9	$ (0.8)	$ 4.9
Payments of contingent consideration earned	9.6	$ 15.2	$ 29.7
Recurring \| Level 3
Business Acquisition
Business combination, contingent consideration, liability	$ 7.8

BUSINESS COMBINATIONS AND DIVESTITURES - Divestiture (Details) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2020 USD ($)	Jan. 31, 2020 USD ($)
Business Combination and Asset Acquisition [Abstract]
Sale of business agreement terms, period following transaction closing date	36 months
Goodwill, written off related to sale of business unit		$ 1.1
Definite-lived intangible assets, written off related to sale of business unit	$ 1.9	1.9
Proceeds from divestiture of businesses		$ 2.2

INTANGIBLE ASSETS AND GOODWILL - Schedule of Acquisition-Related Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 705,026	$ 698,490
Accumulated Amortization	(586,772)	(554,746)
Net	118,254	143,744
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	467,408	464,586
Accumulated Amortization	(375,827)	(356,064)
Net	91,581	108,522
Acquired technology
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	229,501	222,040
Accumulated Amortization	(203,895)	(189,687)
Net	25,606	32,353
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	5,677	9,424
Accumulated Amortization	(4,610)	(6,555)
Net	1,067	2,869
Distribution network
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	2,440	2,440
Accumulated Amortization	(2,440)	(2,440)
Net	$ 0	$ 0

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details)	12 Months Ended
	Jan. 31, 2022 USD ($) Reporting_Unit	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 46,800,000	$ 47,700,000	$ 52,400,000
Impairment of intangible assets, finite-lived		0	0
Number of reporting units \| Reporting_Unit	1
Impairments of goodwill	$ 0	$ 0	$ 0
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived	$ 400,000

INTANGIBLE ASSETS AND GOODWILL - Schedule of Estimated Future Amortization Expense on Finite-lived Acquisition-related Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Intangible Assets - Future Amortization [Abstract]
2023	$ 40,479
2024	31,359
2025	14,978
2026	13,681
2027	9,733
Thereafter	8,024
Net	$ 118,254	$ 143,744

INTANGIBLE ASSETS AND GOODWILL - Goodwill Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Goodwill [Roll Forward]
Goodwill, gross at the beginning of the period	$ 1,409,464	$ 1,383,450	$ 1,367,111
Accumulated impairment losses	(56,043)	(56,043)	$ (56,043)
Goodwill, net at the beginning of the period	1,327,407	1,311,068
Business combinations	36,006
Foreign currency translation and other	(9,992)	16,339
Goodwill, net, at the end of the period	$ 1,353,421	$ 1,327,407

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Apr. 30, 2021	Jan. 31, 2021
Debt Instrument [Line Items]
Less: Unamortized debt discounts and issuance costs	$ (8,046)		$ (7,518)
Total debt	406,954		789,494
Less: current maturities	0		386,713
Long-term debt	406,954		402,781
2021 Notes
Debt Instrument [Line Items]
Long-term debt outstanding	315,000		0
2014 Notes
Debt Instrument [Line Items]
Long-term debt outstanding	0		386,887
2017 Term Loan
Debt Instrument [Line Items]
Long-term debt outstanding	$ 100,000	$ 100,000	$ 410,125

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LONG-TERM DEBT - 2021 Notes (Details)			12 Months Ended
LONG-TERM DEBT - 2021 Notes (Details)	Apr. 09, 2021 USD ($) $ / shares	Apr. 06, 2021 USD ($) $ / shares	Jan. 31, 2022 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)
Debt Instrument [Line Items]
Payments of debt issuance costs			$ 10,708,000	$ 2,287,000	$ 212,000
Series B Preferred Stock
Debt Instrument [Line Items]
Sale of stock, consideration received on transaction		$ 200,000,000
Series B Preferred Stock \| Series B Private Placement
Debt Instrument [Line Items]
Sale of stock, consideration received on transaction		$ 200,000,000
2021 Notes
Debt Instrument [Line Items]
Debt principal amount	$ 315,000,000
Coupon interest rate	0.25%
Convertible debt, conversion ratio		0.0161092
Conversion price (in dollars per share) \| $ / shares	$ 62.08	$ 62.08
Payments of debt issuance costs	$ 8,900,000
Effective interest rate (as a percent)			0.83%

LONG-TERM DEBT - 2014 Notes (Details) $ / shares in Units, shares in Thousands				3 Months Ended		12 Months Ended
	Jun. 01, 2021 USD ($)	Feb. 01, 2021 USD ($) $ / shares shares	Jun. 18, 2014 USD ($)	Jul. 31, 2021 shares	Jul. 31, 2020 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2021 USD ($) $ / shares shares	Jan. 31, 2020 USD ($)	Feb. 26, 2021 USD ($)	Jan. 31, 2019 USD ($)
Debt Instrument [Line Items]
Payment for debt extinguishment, principal						$ 386,887,000	$ 0	$ 0
Equity component of currently redeemable convertible notes						0	4,841,000
Losses on early retirements of debt						2,474,000	143,000	0
Reacquisition of equity component from convertible notes repurchases, net of taxes							218,000
Increase (decrease) to stockholders' equity						954,579,000	1,282,564,000	1,242,437,000		$ 1,260,804,000
Decrease to temporary equity						(436,321,000)	(205,469,000)
Increase to current maturities of long-term debt						0	386,713,000
Decrease to deferred tax liabilities						(9,369,000)	(25,704,000)
Additional Paid-in Capital
Debt Instrument [Line Items]
Reacquisition of equity component from convertible notes repurchases, net of taxes							218,000
Increase (decrease) to stockholders' equity						1,125,152,000	1,726,166,000	1,660,889,000		1,586,266,000
Accumulated Deficit
Debt Instrument [Line Items]
Increase (decrease) to stockholders' equity						$ (54,509,000)	(113,797,000)	(105,590,000)		$ (134,274,000)
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Increase (decrease) to stockholders' equity							1,430,000	(940,000)
Decrease to temporary equity		$ 4,800,000
Increase to current maturities of long-term debt		4,400,000
Decrease to deferred tax liabilities		900,000
Increase to debt issuance costs		100,000
Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-in Capital
Debt Instrument [Line Items]
Increase (decrease) to stockholders' equity		(43,400,000)					(43,445,000)
Cumulative Effect, Period of Adoption, Adjustment \| Accumulated Deficit
Debt Instrument [Line Items]
Increase (decrease) to stockholders' equity		$ 44,900,000					$ 44,875,000	$ (940,000)
2014 Notes
Debt Instrument [Line Items]
Debt principal amount			$ 400,000,000
Coupon interest rate			1.50%
Proceeds from issuance of convertible notes, net of underwriting discounts			$ 391,900,000
Escrow deposit									$ 390,000,000
Payment for debt extinguishment	$ 389,800,000
Payment for debt extinguishment, principal	386,900,000
Payment for debt extinguishment, interest	2,900,000
Incremental conversion value	$ 57,700,000
Treasury stock reissued (in shares) \| shares				1,250
Convertible debt, conversion ratio		0.0246622					0.0155129
Convertible debt, conversion price (in dollars per share) \| $ / shares		$ 40.55					$ 64.46
Number of shares of common stock upon conversion \| shares		9,541					6,002
Carrying value of debt component			319,900,000
Equity component of currently redeemable convertible notes			$ 80,100,000
Assumed non-convertible borrowing rate			5.00%
Debt component of convertible note issuance costs			$ 7,600,000
Adjustment to additional paid in capital debt issuance cost			$ 1,900,000
Repurchased amount in cash					$ 13,100,000
Principal amount - repurchased notes					13,000,000
Losses on early retirements of debt					100,000
Reacquisition of equity component from convertible notes repurchases, net of taxes					$ 200,000
Equity component of convertible debt classified as temporary equity							$ 4,800,000
2014 Notes \| Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Equity component of currently redeemable convertible notes							$ 78,000,000

LONG-TERM DEBT - Capped Calls, Note Hedges and Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended	5 Months Ended	12 Months Ended
	Jun. 01, 2021	Apr. 06, 2021	Feb. 01, 2021	Jun. 18, 2014	Jul. 31, 2021	Jan. 21, 2022	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Apr. 09, 2021
Debt Instrument [Line Items]
Purchases of capped calls, net of taxes		$ 41,100					$ 41,060	$ 0	$ 0
Warrants outstanding (in shares)							0
2021 Notes
Debt Instrument [Line Items]
Conversion price (in dollars per share)		$ 62.08								$ 62.08
Capped calls, initial cap price (in dollars per share)		$ 100.00
2014 Notes
Debt Instrument [Line Items]
Conversion price (in dollars per share)			$ 40.55					$ 64.46
Exercise price of warrants (in dollars per share)			$ 47.18	$ 75.00
Note Hedges, number of shares with right to acquire from counterparties			9,865,000	6,205,000
Note Hedges, Shares With Right To Acquire From Counterparties, Price			$ 40.55	$ 64.46
Payment For Note Hedges				$ 60,800
Note hedges, shares received upon settlement (in shares)	1,250,000
Note hedges, number of shares received pertaining to reimbursement					42,000
Warrants, number of underlying common shares (in shares)			9,865,000	6,205,000
Proceeds from issuance of warrants				$ 45,200
Warrants issued (in shares)						293,143
Warrants exercised on a cashless basis (in shares)						5,031,000

LONG-TERM DEBT - 2017 Credit Agreement (Details) - USD ($)	3 Months Ended		12 Months Ended
	Apr. 30, 2021	Oct. 31, 2020	Jan. 31, 2022	Apr. 09, 2021	Jan. 31, 2021	Jun. 29, 2017
2017 Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 725,000,000
2017 Term Loan
Debt Instrument [Line Items]
Debt face amount						425,000,000
Long-term debt outstanding	$ 100,000,000		$ 100,000,000		$ 410,125,000
Unamortized debt discount			200,000			$ 500,000
Required quarterly principal payment	1,100,000
Repayments of lines of credit	$ 309,000,000
Increase to debt issuance costs			$ 1,800,000
Interest rate at end of period (as a percent)			2.10%		2.14%
Effective interest rate (as a percent)			2.30%
2021 Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 300,000,000
Eurodollar loans \| Variable Rate Based on Eurodollar Rate \| 2017 Credit Agreement
Debt Instrument [Line Items]
Variable rate basis			Eurodollar Rate
Eurodollar loans \| Variable Rate Based on Eurodollar Rate \| 2017 Term Loan
Debt Instrument [Line Items]
Interest rate margin (as a percent)			2.25%
Eurodollar loans \| Variable Rate Based on Eurodollar Rate \| 2017 Term Loan - Following January 2018 Amendment
Debt Instrument [Line Items]
Interest rate margin (as a percent)			2.00%
ABR Rate Loans \| Variable Rate Based on ABR Rate \| 2017 Credit Agreement
Debt Instrument [Line Items]
Variable rate basis			ABR rate
ABR Rate Loans \| Variable Rate Based on ABR Rate \| 2017 Term Loan
Debt Instrument [Line Items]
Interest rate margin (as a percent)			1.25%
ABR Rate Loans \| Variable Rate Based on ABR Rate \| 2017 Term Loan - Following January 2018 Amendment
Debt Instrument [Line Items]
Interest rate margin (as a percent)			1.00%
2017 Revolving Credit Facility
Debt Instrument [Line Items]
Repayments of lines of credit		$ 200,000,000
Increase to debt issuance costs				$ 1,300,000
Consolidated total debt to consolidated EBITDA ratio			4.50

LONG-TERM DEBT - 2017 Credit Agreement Issuance and Amendment Costs (Details) - USD ($) $ in Thousands			12 Months Ended
	Apr. 09, 2021	Jun. 29, 2017	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2018
Debt Instrument [Line Items]
Payments of debt issuance costs			$ 10,708	$ 2,287	$ 212
2017 Credit Agreement
Debt Instrument [Line Items]
Payments of debt issuance costs		$ 6,800
Debt restructuring costs incurred during period				2,100
Payments of debt restructuring costs				1,200
Deferred debt restructuring costs				900
2017 Term Loan
Debt Instrument [Line Items]
Payments of debt issuance costs		4,100
Write off of Deferred Debt Issuance Cost						$ 200
Deferred debt restructuring costs				500
Deferred debt issuance costs			1,800
2017 Revolving Credit Facility
Debt Instrument [Line Items]
Payments of debt issuance costs		$ 2,700
Write off of Deferred Debt Issuance Cost			$ 500
Deferred debt restructuring costs				$ 400
Deferred debt issuance costs	$ 1,300
Deferred debt issuance costs, associated with commitments	800
2021 Revolving Credit Facility
Debt Instrument [Line Items]
Debt restructuring costs incurred during period	$ 1,500

LONG-TERM DEBT - Components of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Apr. 09, 2021	Jun. 18, 2014
2021 Notes
Debt Instrument [Line Items]
Interest expense at coupon or contractual rate	$ 639	$ 0	$ 0
Amortization of deferred debt issuance costs	1,416	0	0
Total interest expense	2,055	0	0
Coupon interest rate				0.25%
2014 Notes
Debt Instrument [Line Items]
Interest expense at coupon or contractual rate	1,933	5,887	6,000
Amortization of debt discounts	0	12,884	12,490
Amortization of deferred debt issuance costs	522	1,215	1,177
Total interest expense	2,455	19,986	19,667
Coupon interest rate					1.50%
2017 Credit Agreement
Debt Instrument [Line Items]
Interest expense at coupon or contractual rate	3,366	13,018	18,021
Impact of interest rate swap agreement	1,014	4,368	792
Amortization of debt discounts	18	74	68
Amortization of deferred debt issuance costs	930	1,811	1,569
Total interest expense	$ 5,328	$ 19,271	$ 20,450

LONG-TERM DEBT - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Apr. 13, 2021	May 01, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Debt Instrument [Line Items]
Payments for derivative instrument			$ 16,502	$ 0	$ 0
Deferred tax asset reclassified upon derivative settlement			$ 3,700
2018 Interest Rate Swap
Debt Instrument [Line Items]
Payments for derivative instrument	$ 16,500
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	$ 15,700	$ 20,400

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Raw materials	$ 3,001	$ 2,768
Work-in-process	150	26
Finished goods	2,186	2,747
Inventories	$ 5,337	$ 5,541

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Property and equipment, net (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 166,664	$ 159,592
Less: accumulated depreciation and amortization	(102,574)	(90,502)
Total property and equipment, net	64,090	69,090
Land and buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,994	8,124
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,155	23,153
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	76,152	61,871
Equipment, furniture, and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 64,363	$ 66,444

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 166,664	$ 159,592
Depreciation expense	20,700	30,600	$ 23,500
Equipment, furniture, and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	64,363	66,444
Equipment, furniture, and other \| Revision of Prior Period, Adjustment
Property, Plant and Equipment [Line Items]
Property and equipment, gross		(44,500)
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 76,152	61,871
Software \| Revision of Prior Period, Adjustment
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 44,500

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Prepaid expenses	$ 22,639	$ 23,125
Other current assets	31,107	19,689
Total prepaid expenses and other current assets	$ 53,746	$ 42,814

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Other assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Deferred commissions	$ 51,714	$ 46,379
Long-term contract assets, net	30,510	17,210
Capitalized software development costs, net	22,483	19,250	$ 15,351	$ 7,266
Long-term deferred cost of revenue	5,907	6,316
Noncontrolling equity investments	5,146	2,034
Deferred debt issuance costs, net	1,950	1,449
Long-term security deposits	702	567
Long-term restricted cash and time deposits	409	651
Other	7,817	3,368
Other assets	$ 126,638	$ 97,224

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Compensation and benefits	$ 86,777	$ 77,942
Operating lease obligations - current portion	24,551	14,230
Taxes other than income taxes	16,313	21,764
Preferred Stock dividends payable	10,400	5,200
Contingent consideration - current portion	7,776	9,595
Professional and consulting fees	3,771	4,996
Income taxes	602	1,514
Fair value of future tranche right	0	52,772
Other	18,504	23,504
Accrued expenses and other current liabilities	$ 168,694	$ 211,517

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Other liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Unrecognized tax benefits, including interest and penalties	$ 16,345	$ 14,441
Finance lease obligations - long-term portion	3,831	2,969
Derivative financial instruments - long-term portion	0	13,565
Contingent consideration - long-term portion	0	6,109
Other	1,820	5,635
Other liabilities	$ 21,996	$ 42,719

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Foreign currency (losses) gains, net	$ (1,644)	$ (1,584)	$ 672
(Losses) gains on derivative financial instruments, net	(14,374)	(1,267)	204
Change in fair value of future tranche right	15,810	(56,146)	0
Other, net	5,435	(1,604)	(267)
Total other income (expense), net	$ 5,227	$ (60,601)	$ 609

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Cash paid for interest	$ 9,716	$ 24,612	$ 23,209
Cash payments of income taxes, net	42,917	21,476	14,859
Non-cash investing and financing transactions:
Liabilities for contingent consideration in business combinations	900	0	8,230
Preferred Stock dividends declared	10,400	5,200	0
Finance leases of property and equipment	4,041	903	3,287
Settlement of Future Tranche Right upon issuance of Series B Preferred Stock	36,962	0	0
Retirement of treasury stock	234,999	0	0
Settlement of convertible note premium with common stock	59,131	0	0
Receipt of common stock from the counterparties under the Note Hedges	59,651	0	0
Accrued but unpaid purchases of property and equipment	750	2,731	962
Accrued but unpaid purchases of treasury stock	0	0	2,846
Leasehold improvements funded by lease incentives	0	119	2,604
Contingent receivable in exchange for sale of subsidiary	$ 0	$ 0	$ 738

CONVERTIBLE PREFERRED STOCK - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 06, 2021	May 07, 2020	Dec. 04, 2019
Convertible Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction			$ 400.0
Series A Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Series A Preferred Stock \| Series A Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Sale of stock, number of shares issued (in shares)		200,000
Sale of stock, price per share (in dollars per share)		$ 1,000
Payments of stock issuance costs		$ 2.7
Series B Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0
Series B Preferred Stock \| Series B Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0
Sale of stock, number of shares issued (in shares)	200,000
Sale of stock, price per share (in dollars per share)	$ 1,000
Payments of stock issuance costs	$ 1.3

CONVERTIBLE PREFERRED STOCK - Voting Rights, Dividends and Liquidation Rights (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	May 07, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Dec. 04, 2019
Subsidiary, Sale of Stock [Line Items]
Holders of preferred stock voting rights, as percentage of voting power of common stock outstanding					19.90%
Payments of preferred stock dividends		$ 12,856	$ 1,589	$ 0
Accrued dividends on preferred stock			5,200
Preferred stock dividends, unpaid and undeclared		12,100
Dividends declared and paid		10,400
Dividends on preferred stock		$ 18,922	$ 7,656	$ 0
Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Preferred stock, dividend payment terms, period	48 months
Preferred Stock \| Dividend for the first 48-month anniversary of closing date
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate	5.20%
Preferred Stock \| Dividend after the first 48-month anniversary of closing date
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate	4.00%
Preferred Stock \| Dividend increase term in event
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate	6.00%
Preferred Stock \| Minimum
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate, increase percentage each year	1.00%
Preferred Stock \| Maximum
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate, increase percentage each year	10.00%

CONVERTIBLE PREFERRED STOCK - Conversion And Future Tranche Right (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	12 Months Ended
	Apr. 06, 2021	May 07, 2020	Apr. 30, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Feb. 01, 2021
Class of Stock [Line Items]
Shares issuable upon conversion (in shares)				9,800,000
Percentage ownership of outstanding shares				12.90%
Convertible preferred stock, mandatory conversion term, period following close date with option to require all outstanding shares		36 months
Common stock, trading days		30 days
Convertible preferred stock, threshold percentage of conversion trigger		175.00%
Convertible preferred stock, period following closing date for redemption		72 months
Preferred stock, redemption price in percentage		100.00%
Internal rate of return		8.00%
Preferred stock dividends, unpaid and undeclared				$ 12,100
Future tranche right, fair value		$ 3,400
Carrying value of preferred stock				436,321	$ 205,469
Change in fair value of future tranche right				(15,810)	$ 56,146	$ 0
Series A Preferred Stock
Class of Stock [Line Items]
Conversion price (in dollars per share)		$ 53.50					$ 36.38
Conversion premium		17.10%
Common stock, consecutive trading days		45 days
Convertible preferred stock, disposition term, number of months anniversary of closing date		36 months
Convertible preferred stock, disposition term, number of months anniversary of consummation of spin-off		24 months
Preferred stock, liquidation preference value				200,000
Preferred stock dividends, unpaid and undeclared				6,100
Carrying value of preferred stock		$ 203,400
Series B Preferred Stock
Class of Stock [Line Items]
Conversion price (in dollars per share)	$ 50.25
Conversion price, trading days	20 days
Preferred stock, liquidation preference value				200,000
Preferred stock dividends, unpaid and undeclared				$ 6,100
Carrying value of preferred stock	$ 237,000
Change in fair value of future tranche right			$ 15,800
Future tranche right	$ 37,000
Series B Preferred Stock \| Series B Private Placement
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	200,000
Common Stock
Class of Stock [Line Items]
Convertible preferred stock, disposition term, number of months anniversary of closing date		24 months
Convertible preferred stock, disposition term, number of months anniversary of consummation of spin-off		12 months
Preferred Stock
Class of Stock [Line Items]
Convertible preferred stock, redemption term		102 months

STOCKHOLDERS' EQUITY - Common Stock Dividends (Details) - USD ($)		12 Months Ended
	Feb. 01, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Stockholders' Equity Note [Abstract]
Dividends on common stock		$ 0	$ 0	$ 0
Spin-off transaction, number of shares received (in shares)	1

STOCKHOLDERS' EQUITY - Stock Repurchase Programs (Details) - USD ($)	2 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 29, 2022	Apr. 30, 2021	Jan. 31, 2022	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Mar. 22, 2022	Dec. 02, 2021	Dec. 04, 2019
Class of Stock [Line Items]
Treasury stock repurchased				$ 26,375,000	$ 33,990,000	$ 116,536,000
Number of common stock acquired (in shares)				1,613,000		2,126,000
Cost of common stock repurchased				$ 76,000,000		$ 116,500,000
2019 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount									$ 300,000,000
Treasury stock repurchased					$ 34,000,000	$ 116,100,000
March 2021 Share Repurchase Program
Class of Stock [Line Items]
Number of common stock acquired (in shares)		1,600,000	0
Cost of common stock repurchased				$ 75,400,000
December 2021 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized (up to) (in shares)								1,500,000
December 2021 Share Repurchase Program \| Subsequent Event
Class of Stock [Line Items]
Stock repurchase program, number of shares authorized (up to) (in shares)							500,000
Stock repurchased during period (in shares)	1,500,000
Stock repurchased during period, value	$ 78,200,000

STOCKHOLDERS' EQUITY - Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Jun. 01, 2021	Jul. 31, 2021	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Class of Stock [Line Items]
Settlement of conversion premium upon maturity of 2014 Notes			$ (8)
Number of common stock acquired (in shares)			1,613,000		2,126,000
Cost of common stock repurchased			$ 76,000		$ 116,500
Treasury stock retired			$ 0
Common stock repurchased and retired (in shares)			5,000,786
Treasury stock repurchased (in shares)				613,000
Cost of treasury stock acquired			$ 26,375	$ 33,990	116,536
Treasury stock held (in shares)			0	4,404,000
Treasury stock acquired			$ 0	$ 208,124
Common Stock Including Additional Paid in Capital
Class of Stock [Line Items]
Treasury stock retired			$ 235,000
2021 Share Repurchase Program
Class of Stock [Line Items]
Treasury stock retired (in shares)			1,058,300
Treasury stock retired			$ 49,600
2019 Share Repurchase Program
Class of Stock [Line Items]
Cost of treasury stock acquired				$ 34,000	$ 116,100
2014 Notes
Class of Stock [Line Items]
Treasury stock reissued (in shares)		1,250,000
Treasury stock reissued, average cost per share (in dollars per share)		$ 47,300
Settlement of conversion premium upon maturity of 2014 Notes		$ 59,100
Note hedges, shares received upon settlement (in shares)	1,250,000
Note hedges, shares received upon settlement, value		$ 57,700
Note hedges, number of shares received pertaining to reimbursement		42,000
Note hedges, common stock value pertaining to reimbursement		$ 2,000

STOCKHOLDERS' EQUITY - Issuance of Convertible Preferred Stock (Details) - USD ($) $ in Millions	Apr. 06, 2021	May 07, 2020	Dec. 04, 2019	Jan. 31, 2022
Class of Stock [Line Items]
Percentage ownership of outstanding shares				12.90%
Convertible Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction			$ 400.0
Series A Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Series A Preferred Stock \| Series A Private Placement
Class of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 200.0
Series B Preferred Stock
Class of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0
Series B Preferred Stock \| Series B Private Placement
Class of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 200.0

STOCKHOLDERS' EQUITY - Summary of Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Class of Stock [Line Items]
Balances	$ 1,282,564	$ 1,242,437	$ 1,260,804
Distribution of Cognyte Software Ltd.	(277,412)
Other comprehensive income (loss)	18,363	15,299	(6,650)
Balances	954,579	1,282,564	1,242,437
Foreign Currency Translation Adjustments
Class of Stock [Line Items]
Balances	(124,481)	(141,963)
Distribution of Cognyte Software Ltd.	17,682
Other comprehensive income (loss) before reclassifications	(11,668)	17,482
Amounts reclassified out of accumulated other comprehensive income (loss)	0
Amounts reclassified upon partial early retirement of the 2017 Term Loan	0
Other comprehensive income (loss)	6,014	17,482
Balances	(118,467)	(124,481)	(141,963)
Foreign Currency Translation Adjustments \| Continuing Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		0
Foreign Currency Translation Adjustments \| Discontinued Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		0
AOCI Attributable to Parent
Class of Stock [Line Items]
Balances	(136,878)	(151,865)	(145,225)
Distribution of Cognyte Software Ltd.	17,123
Other comprehensive income (loss) before reclassifications	(11,598)	13,435
Amounts reclassified out of accumulated other comprehensive income (loss)	(821)
Amounts reclassified upon partial early retirement of the 2017 Term Loan	(12,017)
Other comprehensive income (loss)	18,363	14,987	(6,640)
Balances	(118,515)	(136,878)	(151,865)
AOCI Attributable to Parent \| Continuing Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		(3,188)
AOCI Attributable to Parent \| Discontinued Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		1,636
Unrealized Gains (Losses) on Foreign Exchange Contracts Designated as Hedges \| Unrealized gains (losses) on derivative financial instruments designated as hedges
Class of Stock [Line Items]
Balances	634	626
Distribution of Cognyte Software Ltd.	(559)
Other comprehensive income (loss) before reclassifications	70	1,869
Amounts reclassified out of accumulated other comprehensive income (loss)	193
Amounts reclassified upon partial early retirement of the 2017 Term Loan	0
Other comprehensive income (loss)	(682)	8
Balances	(48)	634	626
Unrealized Gains (Losses) on Foreign Exchange Contracts Designated as Hedges \| Unrealized gains (losses) on derivative financial instruments designated as hedges \| Continuing Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		225
Unrealized Gains (Losses) on Foreign Exchange Contracts Designated as Hedges \| Unrealized gains (losses) on derivative financial instruments designated as hedges \| Discontinued Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		1,636
Unrealized Losses on Interest Rate Swap Designated as Hedge \| Unrealized gains (losses) on derivative financial instruments designated as hedges
Class of Stock [Line Items]
Balances	(13,031)	(10,528)
Distribution of Cognyte Software Ltd.	0
Other comprehensive income (loss) before reclassifications	0	(5,916)
Amounts reclassified out of accumulated other comprehensive income (loss)	(1,014)
Amounts reclassified upon partial early retirement of the 2017 Term Loan	(12,017)
Other comprehensive income (loss)	13,031	(2,503)
Balances	$ 0	(13,031)	$ (10,528)
Unrealized Losses on Interest Rate Swap Designated as Hedge \| Unrealized gains (losses) on derivative financial instruments designated as hedges \| Continuing Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		(3,413)
Unrealized Losses on Interest Rate Swap Designated as Hedge \| Unrealized gains (losses) on derivative financial instruments designated as hedges \| Discontinued Operations
Class of Stock [Line Items]
Amounts reclassified out of accumulated other comprehensive income (loss)		$ 0

STOCKHOLDERS' EQUITY - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands			12 Months Ended
	Apr. 13, 2021	May 01, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Class of Stock [Line Items]
Payments for derivative instrument			$ 16,502	$ 0	$ 0
Deferred tax asset reclassified upon derivative settlement			$ 3,700
2018 Interest Rate Swap
Class of Stock [Line Items]
Payments for derivative instrument	$ 16,500
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	$ 15,700	$ 20,400

STOCKHOLDERS' EQUITY - AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Class of Stock [Line Items]
Research and development, net									$ (123,291)	$ (128,152)	$ (134,236)
Selling, general and administrative									(376,808)	(327,345)	(379,234)
Interest Expense									(10,325)	(39,803)	(40,314)
Total, before income taxes	$ 6,115	$ 22,850	$ 9,517	$ 1,022	$ (25,551)	$ (1,017)	$ (1,025)	$ (14,071)	39,504	(41,664)	(39,567)
Provision for income taxes									(23,853)	(6,937)	(6,943)
Net income (loss) from continuing operations	$ (4,260)	$ 13,501	$ 5,316	$ 1,094	$ (22,712)	$ (2,101)	$ (9,370)	$ (14,418)	15,651	(48,601)	(46,510)
Recurring
Class of Stock [Line Items]
Cost of revenue									(156,569)	(139,044)	(132,789)
Nonrecurring
Class of Stock [Line Items]
Cost of revenue									(124,226)	(130,545)	(149,795)
Foreign currency forward contracts \| Reclassification out of Accumulated Other Comprehensive Income
Class of Stock [Line Items]
Research and development, net									142	182	42
Selling, general and administrative									65	56	20
Total, before income taxes									232	267	64
Provision for income taxes									(39)	(42)	(6)
Net income (loss) from continuing operations									193	225	58
Foreign currency forward contracts \| Recurring \| Reclassification out of Accumulated Other Comprehensive Income
Class of Stock [Line Items]
Cost of revenue									1	1	(3)
Foreign currency forward contracts \| Nonrecurring \| Reclassification out of Accumulated Other Comprehensive Income
Class of Stock [Line Items]
Cost of revenue									24	28	5
Interest rate swap agreement \| Reclassification out of Accumulated Other Comprehensive Income
Class of Stock [Line Items]
Interest Expense									(1,014)	(4,367)	(792)
Other income (expense), net									(15,655)	0	0
Total, before income taxes									(16,669)	(4,367)	(792)
Provision for income taxes									3,638	954	175
Net income (loss) from continuing operations									$ (13,031)	$ (3,413)	$ (617)

RESEARCH AND DEVELOPMENT, NET - R&D Expenses And Grants (Details) - USD ($)	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Research and Development [Abstract]
Gross research and development expenses	$ 123,300,000	$ 128,200,000	$ 134,200,000
Capitalized computer software, impairments	$ 0	$ 129,000	$ 0

RESEARCH AND DEVELOPMENT, NET - Capitalized Software Development Costs (Details) - USD ($)	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Movement in Capitalized Computer Software, Net [Roll Forward]
Beginning of the period	$ 19,250,000	$ 15,351,000	$ 7,266,000
Software development costs capitalized during the year	7,560,000	7,312,000	9,584,000
Amortization of capitalized software development costs	(4,247,000)	(3,304,000)	(1,538,000)
Write-offs of capitalized software development costs	0	(129,000)	0
Foreign currency translation and other	(80,000)	20,000	39,000
End of the period	$ 22,483,000	$ 19,250,000	$ 15,351,000

INCOME TAXES - Income (Loss) Before Provision before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Domestic									$ (12,492)	$ 127,909	$ (46,896)
Foreign									51,996	(169,573)	7,329
Income (loss) from continuing operations before provision for income taxes	$ 6,115	$ 22,850	$ 9,517	$ 1,022	$ (25,551)	$ (1,017)	$ (1,025)	$ (14,071)	$ 39,504	$ (41,664)	$ (39,567)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

INCOME TAXES - Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Current provision for income taxes:
Federal	$ 3,215	$ 373	$ 7,204
State	1,121	1,663	974
Foreign	30,840	6,299	3,049
Total current provision for income taxes	35,176	8,335	11,227
Deferred provision for (benefit from) income taxes:
Federal	6,714	1,366	(4,430)
State	255	(188)	862
Foreign	(18,292)	(2,576)	(716)
Total deferred benefit from income taxes	(11,323)	(1,398)	(4,284)
Total provision for income taxes from continuing operations	$ 23,853	$ 6,937	$ 6,943

INCOME TAXES - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Income tax provision (benefit) at the U.S. federal statutory rate	$ 8,296	$ (8,733)	$ (8,307)
State income tax (benefit) provision	(1,238)	2,017	106
Foreign tax rate differential	6,262	5,992	10,134
Tax incentives	(6,378)	(2,681)	(6,224)
Valuation allowances	2,616	(3,269)	2,311
Stock-based and other compensation	897	2,958	(926)
Non-deductible expenses	(238)	(1,007)	1,127
Tax credits	117	875	266
Tax contingencies	2,108	(5,652)	161
Change in fair value of future tranche right	(3,320)	11,791	0
Changes in tax laws	1,552	0	0
U.S. tax effects of foreign operations	13,480	3,828	8,299
Other, net	(301)	818	(4)
Total provision for income taxes from continuing operations	$ 23,853	$ 6,937	$ 6,943
Effective income tax rate	60.40%	(16.60%)	(17.50%)

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate, increase (decrease) due to tax incentive	(16.10%)	6.40%	15.80%
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	$ 8,900
Tax credit carryforward amount indefinite carryforward	2,700
Tax credit carryforward amount subject to expiration	6,200
Taxes withholding with respect to certain cash may be repatriated	1,000
Unrecognized tax benefits	84,229	$ 84,847	$ 85,327	$ 86,312
Unrecognized tax benefits, income tax penalties and interest expense	500	400	$ 200
Unrecognized tax benefits, income tax penalties and interest accrued	3,400	$ 3,000
Decrease in unrecognized tax benefits is reasonably possible	300
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	309,100
Operating loss carryforwards, not subject to expiration	13,100
State and Local Jurisdictions
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	206,700
Operating loss carryforwards, not subject to expiration	2,400
Foreign Countries
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	33,100
Operating loss carryforwards, not subject to expiration	$ 2,900

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Deferred tax assets:
Accrued expenses	$ 4,464	$ 5,383
Operating lease liabilities	9,275	11,040
Fair value of derivatives	0	4,149
Loss carryforwards	21,764	17,672
Tax credits	5,780	5,946
Stock-based and other compensation	6,802	7,434
Total deferred tax assets	48,085	51,624
Deferred tax liabilities:
Deferred cost of revenue	(8,457)	(5,100)
Goodwill and other intangible assets	(20,810)	(29,876)
Unremitted earnings of foreign subsidiaries	(970)	(14,882)
Operating lease right-of-use assets	(4,959)	(8,569)
Other, net	(1,547)	(2,140)
Total deferred tax liabilities	(36,743)	(60,567)
Valuation allowance	(20,711)	(16,761)
Net deferred tax liabilities	(9,369)	(25,704)
Recorded as:
Deferred tax assets	8,091	7,287
Deferred tax liabilities	(17,460)	(32,991)
Net deferred tax liabilities	$ (9,369)	$ (25,704)

INCOME TAXES - Valuation Allowances (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Recorded valuation allowance
Balance at beginning of year	$ (16,761)	$ (19,512)
Balance at end of year	(20,711)	(16,761)
Income tax (provision) benefit
Recorded valuation allowance
Adjustments to Valuation Allowances	(2,616)	3,269
Fair value of derivatives and convertible debt instruments
Recorded valuation allowance
Adjustments to Valuation Allowances	(1,139)	0
Currency translation adjustment and other
Recorded valuation allowance
Adjustments to Valuation Allowances	$ (195)	$ (518)

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Changes in the balance of gross unrecognized tax benefits
Gross unrecognized tax benefits, beginning of year	$ 84,847	$ 85,327	$ 86,312
Increases related to tax positions taken during the current year	672	706	575
Increases related to tax positions taken during prior years	430	0	147
Increases related to foreign currency exchange rates	45	136	146
Reductions for tax positions of prior years	(152)	(193)	(1,555)
Lapses of statutes of limitations	(1,613)	(1,129)	(298)
Gross unrecognized tax benefits, end of year	$ 84,229	$ 84,847	$ 85,327

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Level 1
Assets:
Money market funds	$ 127,041	$ 342,090
Commercial paper, classified as cash and cash equivalents	0
Foreign currency forward contracts	0	0
Contingent consideration receivable	0	0
Total assets	127,041	342,090
Liabilities:
Foreign currency forward contracts	0	0
Interest rate swap agreements		0
Future tranche right		0
Contingent consideration — business combinations	0	0
Option to acquire noncontrolling interests of consolidated subsidiaries		0
Total liabilities	0	0
Level 2
Assets:
Money market funds	0	0
Commercial paper, classified as cash and cash equivalents	29,995
Foreign currency forward contracts	33	136
Contingent consideration receivable	0	0
Total assets	30,028	136
Liabilities:
Foreign currency forward contracts	91	48
Interest rate swap agreements		17,881
Future tranche right		0
Contingent consideration — business combinations	7,776	0
Option to acquire noncontrolling interests of consolidated subsidiaries		0
Total liabilities	7,867	17,929
Level 3
Assets:
Money market funds	0	0
Commercial paper, classified as cash and cash equivalents	0
Foreign currency forward contracts	0	0
Contingent consideration receivable	271	565
Total assets	271	565
Liabilities:
Foreign currency forward contracts	0	0
Interest rate swap agreements		0
Future tranche right		52,772
Contingent consideration — business combinations	0	15,704
Option to acquire noncontrolling interests of consolidated subsidiaries		3,250
Total liabilities	$ 0	$ 71,726

FAIR VALUE MEASUREMENTS - ADDITIONAL INFORMATION (Details)			1 Months Ended	12 Months Ended
	Apr. 13, 2021 USD ($)	May 01, 2020 USD ($)	Jan. 31, 2020	Jan. 31, 2022 USD ($) subsidiary	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration, measurement period			36 months
Number of majority owned subsidiaries acquired \| subsidiary				2
Payment for termination of interest rate swap				$ 16,502,000	$ 0	$ 0
Deferred tax asset reclassified upon derivative settlement				3,700,000
Noncontrolling equity investment in privately-held companies without readily determinable fair values				5,100,000	2,000,000
Noncontrolling equity investment in privately-held companies without readily determinable fair values, remeasured to fair value				4,400,000
Unrealized gain on noncontrolling equity investment				3,100,000
Noncontrolling equity investment in privately-held companies, impairments				$ 0	$ 0
2018 Interest Rate Swap
Assets and Liabilities Measured at Fair Value on Recurring Basis
Payment for termination of interest rate swap	$ 16,500,000
Other comprehensive income (loss), cash flow hedge, gain (loss), reclassification, before tax	$ 15,700,000	$ 20,400,000
Minimum \| Discount Rate
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration, liability, measurement input					0.033
Contingent consideration, asset, measurement input				0.035	0.033
Maximum \| Discount Rate
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration, liability, measurement input					0.038
Contingent consideration, asset, measurement input				0.039	0.040
Weighted Average \| Discount Rate
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration, liability, measurement input					0.035
Contingent consideration, asset, measurement input				0.037	0.037
Level 3 \| 2017 Term Loan
Assets and Liabilities Measured at Fair Value on Recurring Basis
Long-term debt				$ 100,000,000	$ 409,000,000
Level 3 \| Recurring
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration receivable				271,000	565,000
Contingent consideration payments received				300,000	100,000
Transfer of contingent consideration liability to Level 2 of the fair value hierarchy				0	15,704,000
Level 2 \| 2014 Notes
Assets and Liabilities Measured at Fair Value on Recurring Basis
Fair value of term loans					440,000,000
Level 2 \| 2021 Notes
Assets and Liabilities Measured at Fair Value on Recurring Basis
Fair value of term loans				330,000,000
Level 2 \| Recurring
Assets and Liabilities Measured at Fair Value on Recurring Basis
Contingent consideration receivable				0	0
Transfer of contingent consideration liability to Level 2 of the fair value hierarchy				7,776,000	0
Future tranche right
Assets and Liabilities Measured at Fair Value on Recurring Basis
Reclassification of future tranche right liability upon settlement				$ 36,962,000	$ 0
Option to Acquire Noncontrolling Interests \| Discount Rate
Assets and Liabilities Measured at Fair Value on Recurring Basis
Rights outstanding, measurement input					0.085

FAIR VALUE MEASUREMENTS - CHANGES IN FAIR VALUE OF FUTURE TRANCHE RIGHT (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Change in fair value, recorded in other income (expense), net	$ 900	$ (800)	$ 4,900
Future tranche right
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Fair value measurement, beginning of year	(52,772)	0
Fair value of future tranche right upon issuance of the Series A Preferred Stock	0	3,374
Change in fair value, recorded in other income (expense), net	15,810	(56,146)
Reclassification of future tranche right liability upon settlement	36,962	0
Fair value measurement, end of year	$ 0	$ (52,772)	$ 0

FAIR VALUE MEASUREMENTS - CONTINGENT CONSIDERATION TABLE (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Changes in fair values, recorded in operating expenses	$ (900)	$ 800	$ (4,900)
Liability for contingent consideration
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Fair value measurement, beginning of year	15,704	31,367
Contingent consideration liabilities recorded for business combinations	900	0
Changes in fair values, recorded in operating expenses	883	(806)
Payments of contingent consideration	(9,560)	(15,183)
Foreign currency translation and other	(151)	326
Transfer of contingent consideration liability to Level 2 of the fair value hierarchy	(7,776)	0
Fair value measurement, end of year	$ 0	$ 15,704	$ 31,367

FAIR VALUE MEASUREMENTS - OPTION TO ACQUIRE NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Changes in fair values, recorded in operating expenses	$ (900)	$ 800	$ (4,900)
Option to acquire noncontrolling interests
Changes in the estimated fair value of liability for contingent consideration measured using significant unobservable inputs (Level 3)
Fair value measurement, beginning of year	3,250	2,900
Changes in fair values, recorded in operating expenses	1,245	350
Amount paid upon exercise of option to acquire noncontrolling interests of consolidated subsidiaries	(4,495)	0
Fair value measurement, end of year	$ 0	$ 3,250	$ 2,900

FAIR VALUE MEASUREMENTS - FAIR VALUE INPUTS AND ASSUMPTIONS (Details) - Level 3 - Recurring - Future tranche right	Apr. 06, 2021	Jan. 31, 2021
Risk-free interest rate for preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Rights outstanding, measurement input	0.0235	0.0186
Implied credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Rights outstanding, measurement input	0.0678	0.0678
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Rights outstanding, measurement input	0.3000	0.3000
Verint common stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Rights outstanding, measurement input	45.91	73.83

DERIVATIVE FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($) $ in Thousands				12 Months Ended
	Apr. 13, 2021	May 01, 2020	Jun. 29, 2017	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Sep. 06, 2019
Derivative [Line Items]
Payments for derivative instrument				$ 16,502	$ 0	$ 0
Unrealized gain on derivatives				(14,374)	(1,267)	$ 204
Deferred tax asset reclassified upon derivative settlement				$ 3,700
Foreign currency forward contracts
Derivative [Line Items]
Derivative, remaining maturity				12 months
Derivative - notional amount				$ 7,400	$ 6,600
Maximum maturity of foreign currency derivatives				12 months
2016 Interest Rate Swap
Derivative [Line Items]
Derivative - notional amount							$ 200,000
Derivative - fixed interest rate							4.143%
Derivative - index interest rate floor							0.75%
Derivative - basis spread on variable rate							2.75%
Gain on discontinuation of cash flow hedge			$ 900
2018 Interest Rate Swap
Derivative [Line Items]
Derivative - notional amount							$ 200,000
Derivative - fixed interest rate							2.949%
Derivative - index interest rate floor							0.00%
Reclassification of cash flow hedge loss, before tax	$ 15,700	$ 20,400
Reclassification of cash flow hedge loss, after tax		$ 16,000
Payments for derivative instrument	16,500
Unrealized gain on derivatives	$ 1,300

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Fair Values of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Fair Values of Derivative Financial Instruments
Assets, fair value	$ 33	$ 136
Liabilities, fair value	91	17,929
Prepaid expenses and other current assets \| Foreign currency forward contracts \| Designated as cash flow hedges
Fair Values of Derivative Financial Instruments
Assets, fair value	33	136
Accrued expenses and other current liabilities \| Foreign currency forward contracts \| Designated as cash flow hedges
Fair Values of Derivative Financial Instruments
Liabilities, fair value	91	47
Accrued expenses and other current liabilities \| Foreign currency forward contracts \| Not designated as hedging instruments
Fair Values of Derivative Financial Instruments
Liabilities, fair value	0	1
Accrued expenses and other current liabilities \| Interest rate swap agreement \| Not designated as hedging instruments
Fair Values of Derivative Financial Instruments
Liabilities, fair value	0	4,316
Other liabilities \| Interest rate swap agreement \| Not designated as hedging instruments
Fair Values of Derivative Financial Instruments
Liabilities, fair value	$ 0	$ 13,565

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of the Effects of Derivative Financial Instruments Designated as Cash Flow Hedging Instruments (Details) - Designated as cash flow hedges - Cash flow hedging - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS
Net gains (losses) recognized in Accumulated other comprehensive (loss) income	$ 85	$ (7,212)	$ (9,976)
Net (losses) gains reclassified from Accumulated other comprehensive (loss) income to the consolidated statements of operations	(16,437)	(4,100)	(728)
Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Net gains (losses) recognized in Accumulated other comprehensive (loss) income	85	323	289
Net (losses) gains reclassified from Accumulated other comprehensive (loss) income to the consolidated statements of operations	232	267	64
Interest rate swap agreement
DERIVATIVE FINANCIAL INSTRUMENTS
Net gains (losses) recognized in Accumulated other comprehensive (loss) income	0	(7,535)	(10,265)
Net (losses) gains reclassified from Accumulated other comprehensive (loss) income to the consolidated statements of operations	$ (16,669)	$ (4,367)	$ (792)

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Gains (Losses) Recognized on Derivative Financial Instruments Not Designated As Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Losses) gains on derivative financial instruments, net	$ (14,374)	$ (1,267)	$ 204
Not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Losses) gains on derivative financial instruments, net	(14,374)	(1,267)	203
Foreign currency forward contracts \| Not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Losses) gains on derivative financial instruments, net	0	0	251
Interest rate swap agreement \| Not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
(Losses) gains on derivative financial instruments, net	$ (14,374)	$ (1,267)	$ (48)

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Stock-Based Compensation Plans (Details) - 2019 Long-Term Stock Incentive Plan	Jan. 31, 2022 shares	Mar. 31, 2021 shares	Feb. 01, 2021
Stock-Based Compensation Plans
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)	9,475,000	14,239,656
Reduction of available plan capacity for each stock option or stock-settled stock appreciation right (in shares)	1
Reduction of available plan capacity for each other award (in shares)	2.38
Unvested awards conversion factor	1.45		1.45

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Stock-Based Compensation Plans
Share-based payment arrangement, expense	$ 65,265	$ 45,200	$ 64,839
Income tax benefits related to stock-based compensation (before consideration of valuation allowances)	10,615	6,684	7,357
Total stock-based compensation, net of taxes	54,650	38,516	57,482
Cost of revenue — recurring
Stock-Based Compensation Plans
Share-based payment arrangement, expense	1,999	1,109	2,100
Cost of revenue — nonrecurring
Stock-Based Compensation Plans
Share-based payment arrangement, expense	3,029	2,184	3,316
Research and development, net
Stock-Based Compensation Plans
Share-based payment arrangement, expense	7,565	3,918	7,212
Selling, general and administrative
Stock-Based Compensation Plans
Share-based payment arrangement, expense	$ 52,672	$ 37,989	$ 52,211

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Schedule of Stock-Based Compensation Expense by Type of Award (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Stock-based compensation expense
Share-based payment arrangement, expense	$ 65,265	$ 45,200	$ 64,839
Net excess tax deficiency (benefit) resulting from Stock Plans	(2,500)	900	(1,900)
Total equity-settled awards
Stock-based compensation expense
Share-based payment arrangement, expense	65,246	45,208	64,802
Restricted stock units and restricted stock awards \| Total equity-settled awards
Stock-based compensation expense
Share-based payment arrangement, expense	58,678	47,598	49,475
Stock Bonus Program \| Total equity-settled awards
Stock-based compensation expense
Share-based payment arrangement, expense	6,568	(2,390)	15,327
Phantom stock units (cash-settled awards) \| Phantom stock units (cash-settled awards)
Stock-based compensation expense
Share-based payment arrangement, expense	$ 19	$ (8)	$ 37

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Restricted Stock Units and Performance Stock Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Shares or Units
Beginning balance, adjusted for Spin-Off (in shares)		2,950
Beginning balance (in shares)	2,017	1,879	1,877
Granted (in shares)	1,540	1,469	1,157
Released (in shares)	(1,800)	(1,125)	(1,009)
Forfeited (in shares)	(236)	(206)	(146)
Ending balance (in shares)	2,454	2,017	1,879
Weighted-Average Grant-Date Fair Value
Beginning balance, adjusted for Spin-Off (in dollars per share)		$ 35.97
Beginning balance (in dollars per share)	$ 51.90	52.96	$ 40.98
Granted (in dollars per share)	48.01	47.30	59.89
Released (in dollars per share)	36.14	47.53	39.76
Forfeited (in dollars per share)	40.23	52.59	45.07
Ending balance (in dollars per share)	$ 42.99	$ 51.90	$ 52.96
Additional disclosures
Granted (in shares)	1,540	1,469	1,157
RSUs
Shares or Units
Granted (in shares)	1,328
Additional disclosures
Granted (in shares)	1,328
Unrecognized compensation expense	$ 66.8
Remaining weighted-average vesting period over which expense is expected to be recognized (in years)	1 year 4 months 24 days

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Schedule of PSU Activity (Details) - shares shares in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Shares or Units
Beginning balance, adjusted for Spin-Off (in shares)		2,950
Beginning balance (in shares)	2,017	1,879	1,877
Granted (in shares)	1,540	1,469	1,157
Released (in shares)	(1,800)	(1,125)	(1,009)
Forfeited (in shares)	(236)	(206)	(146)
Ending balance (in shares)	2,454	2,017	1,879
Performance based RSU's
Shares or Units
Beginning balance, adjusted for Spin-Off (in shares)		743
Beginning balance (in shares)	511	423	414
Granted (in shares)	212	297	237
Released (in shares)	(381)	(182)	(200)
Forfeited (in shares)	(27)	(27)	(28)
Ending balance (in shares)	547	511	423

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Adjustment in Connection with the Spin-Off (Details)	Jan. 31, 2022	Feb. 01, 2021
2019 Long-Term Stock Incentive Plan
Stock-Based Compensation Plans
Unvested awards conversion factor	1.45	1.45

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Stock Bonus Program (Details) - Stock Bonus Program - shares		12 Months Ended
	Mar. 22, 2022	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Stock-Based Compensation Plans
Share-based compensation arrangement by share-based payment award, award vesting period		1 year
Share-based compensation arrangement by share-based payment award, determination of shares issuable trailing period of average price of common stock		5 days
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)			200,000	200,000	200,000
Discount from market price (as a percent)		15.00%	15.00%	15.00%	15.00%
Shares in lieu of cash bonus - granted and released (in shares)		0	32,000	97,000
Shares released in respect of discount		0	3,000	13,000
Subsequent Event
Stock-Based Compensation Plans
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)	200,000
Discount from market price (as a percent)	15.00%

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Activities Of Stock Bonus Program (Details) - Stock Bonus Program - shares	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Stock-Based Compensation Plans
Shares in lieu of cash bonus - granted and released (in shares)	0	32,000	97,000
Shares granted in respect of discount	0	0	16,000
Shares released in respect of discount	0	3,000	13,000

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Bonus Share Program (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Mar. 29, 2022	Jan. 31, 2019
Bonus Share Program
Stock-Based Compensation Plans
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)	300,000	300,000	305,000		300,000
Shares in lieu of cash bonus - granted and released (in shares)	0	272,000	59,000
Bonus Share Program \| Subsequent Event
Stock-Based Compensation Plans
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)				300,000
Stock bonus program and bonus share program
Stock-Based Compensation Plans
Accrued bonuses	$ 6.5

STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS - Other Benefit Plans (Details) - USD ($)	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
401(k) Plan and Other Retirement Plans
Employee contribution limit (as a percentage of compensation)	60.00%
Company's matching contribution as percentage of employee's annual compensation (as a percentage of compensation)	50.00%
Defined Contribution Plan Employer Matching Contribution Per Employee Maximum Amount	$ 2,000
Matching contribution expense	2,600,000	$ 2,600,000	$ 2,900,000
Liability for Severance Pay
Severance expenses	$ 1,300,000	$ 1,100,000	$ 1,100,000

LEASES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2023
Lessee, Lease, Description [Line Items]
Lessee operating and finance leases options to extend lease terms	10 years
Finance lease, right-of-use asset	$ 14.4	$ 11.0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Finance lease, accumulated depreciation	$ 5.0	$ 2.7
Accelerated operating lease costs	9.8	2.4
Operating ease expense, indirect shared facility expenses		$ 6.9	$ 6.7
Operating leases, not yet commenced with future lease obligations, amount	$ 2.4
Minimum
Lessee, Lease, Description [Line Items]
Lessee operating and finance leases remaining lease term	1 year
Lessee operating and finance leases options to terminate leases term	1 year
Minimum \| Forecast
Lessee, Lease, Description [Line Items]
Operating leases, not yet commenced with future lease obligations, term				3 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee operating and finance leases remaining lease term	8 years
Lessee operating and finance leases options to terminate leases term	3 years
Maximum \| Forecast
Lessee, Lease, Description [Line Items]
Operating leases, not yet commenced with future lease obligations, term				4 years

LEASES - Component Of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Leases [Abstract]
Operating lease expenses	$ 24,241	$ 28,617	$ 26,583
Amortization of right-of-use assets	3,223	2,295	581
Interest on lease liabilities	260	312	204
Total finance lease expenses	3,483	2,607	785
Variable lease expenses	6,344	5,504	5,609
Short-term lease expenses	1,055	584	657
Sublease income	(1,804)	(966)	(908)
Total lease expenses	$ 33,319	$ 36,346	$ 32,726

LEASES - Supplemental Cash Flow Information Related To Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 19,360	$ 21,243	$ 20,083
Operating cash flows from finance leases	260	312	204
Financing cash flows from finance leases	3,189	2,389	1,930
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	11,282	7,619	17,843
Finance leases	$ 4,041	$ 903	$ 3,288
Weighted average remaining lease terms
Operating leases	3 years	6 years	6 years
Finance leases	3 years	3 years	3 years
Weighted average discount rates
Operating leases	4.80%	5.80%	5.70%
Finance leases	3.80%	4.00%	5.10%

LEASES - Maturities Of Lease Liabilities (Details) $ in Thousands	Jan. 31, 2022 USD ($)
Operating Leases
2023	$ 26,526
2024	9,808
2025	8,221
2026	5,056
2027	4,312
Thereafter	5,423
Total future minimum lease payments	59,346
Less: imputed interest	(6,338)
Total	53,008
Finance Leases
2023	2,804
2024	2,017
2025	1,418
2026	550
2027	19
Thereafter	0
Total future minimum lease payments	6,808
Less: imputed interest	(348)
Total	$ 6,460

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Operating Leases
Operating lease obligations - current portion	$ 24,551	$ 14,230
Operating lease liabilities, noncurrent	$ 28,457	$ 56,712
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Total	$ 53,008
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance Leases
Finance lease liability, current	$ 2,629
Finance lease obligations - long-term portion	3,831	$ 2,969
Total	$ 6,460

COMMITMENTS AND CONTINGENCIES - Purchase Obligations And Off-Balance Sheet Risk (Details) $ in Millions	Jan. 31, 2022 USD ($)
Unconditional Purchase Obligations (Excluding Capital Stock Redemptions) [Abstract]
Unconditional purchase obligations	$ 240.3
Concentration Risks, Types, No Concentration Percentage [Abstract]
Outstanding letters of credit and surety bonds	$ 1.5

COMMITMENTS AND CONTINGENCIES - Legal Proceedings (Details) $ in Millions		12 Months Ended
	Jun. 07, 2012 defendant	Jan. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of defendants \| defendant	3
Loss contingency, damages sought, value \| $		$ 150.0

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION - Reportable Operating Segments (Details) - segment	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Segment Reporting [Abstract]
Number of reportable segments	1	2

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION - Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Revenues from External Customers and Long-Lived Assets
Revenue	$ 234,168	$ 224,820	$ 214,617	$ 200,904	$ 225,080	$ 215,222	$ 204,080	$ 185,865	$ 874,509	$ 830,247	$ 846,525
Americas:
Revenues from External Customers and Long-Lived Assets
Revenue									600,723	569,950	589,075
United States
Revenues from External Customers and Long-Lived Assets
Revenue									552,680	515,480	539,586
Other
Revenues from External Customers and Long-Lived Assets
Revenue									48,043	54,470	49,489
EMEA:
Revenues from External Customers and Long-Lived Assets
Revenue									180,166	173,216	168,942
United Kingdom
Revenues from External Customers and Long-Lived Assets
Revenue									100,606	100,855	100,107
Other
Revenues from External Customers and Long-Lived Assets
Revenue									79,560	72,361	68,835
APAC
Revenues from External Customers and Long-Lived Assets
Revenue									$ 93,620	$ 87,081	$ 88,508

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION - Property and equipment, net (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 64,090	$ 69,090
United States
Property, Plant and Equipment [Line Items]
Property and equipment, net	50,241	51,537
United Kingdom
Property, Plant and Equipment [Line Items]
Property and equipment, net	9,225	11,345
Other countries
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 4,624	$ 6,208

SEGMENT, GEOGRAPHIC, AND SIGNIFICANT CUSTOMER INFORMATION - Significant Customers (Details)	12 Months Ended
	Jan. 31, 2021
Largest Customer \| Total Revenue \| Revenue from Rights Concentration Risk
Concentration Risk [Line Items]
Concentrations of credit risk, percentage	10.00%

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) - Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Selected Quarterly Financial Information [Abstract]
Revenue	$ 234,168	$ 224,820	$ 214,617	$ 200,904	$ 225,080	$ 215,222	$ 204,080	$ 185,865	$ 874,509	$ 830,247	$ 846,525
Gross profit	152,587	152,736	142,050	128,564	149,205	141,350	137,179	114,962	575,937	542,696	542,362
Income (loss) from continuing operations before provision for income taxes	(6,115)	(22,850)	(9,517)	(1,022)	25,551	1,017	1,025	14,071	(39,504)	41,664	39,567
Net income (loss) from continuing operations	4,260	(13,501)	(5,316)	(1,094)	22,712	2,101	9,370	14,418	(15,651)	48,601	46,510
Net income (loss) attributable to Verint Systems Inc.	4,623	(13,237)	(5,000)	(799)	19,922	(10,175)	(8,494)	6,014	(14,413)	7,267	(28,684)
Net (loss) income attributable to Verint Systems Inc. for basic net (loss) income per common share	$ (9,823)	$ 8,037	$ (200)	$ (2,523)					(4,509)	(14,923)	28,684
Net loss from continuing operations attributable to Verint Systems Inc. common shares					(25,403)	(5,068)	(12,181)	(14,658)	(4,509)	(57,310)	(47,089)
Net income from discontinued operations attributable to Verint Systems Inc. common shares					$ 2,967	$ 12,585	$ 18,191	$ 8,644	$ 0	$ 42,387	$ 75,773
Net (loss) income attributable to Verint Systems Inc. common shares:
Basic (in dollars per share)	$ (0.15)	$ 0.12	$ 0	$ (0.04)					$ (0.07)	$ (0.23)	$ 0.43
Diluted (in dollars per share)	$ (0.15)	$ 0.12	$ 0	$ (0.04)					(0.07)	(0.23)	0.43
Continuing operations - basic (in dollars per share)					$ (0.39)	$ (0.08)	$ (0.19)	$ (0.23)	(0.07)	(0.88)	(0.71)
Continuing operations - diluted (in dollars per share)					(0.39)	(0.08)	(0.18)	(0.23)	(0.07)	(0.88)	(0.71)
Discontinued operations (in dollars per share)					0.05	0.19	0.28	0.14	0	0.65	1.14
Discontinued operations (in dollars per share)					$ 0.05	$ 0.19	$ 0.27	$ 0.14	$ 0	$ 0.65	$ 1.14

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) - Additional Information (Details) $ in Millions	3 Months Ended
	Jan. 31, 2021 USD ($)
Selected Quarterly Financial Information [Abstract]
Non-cash future tranche right charge	$ 33.3

SUBSEQUENT EVENT (Details) - December 2021 Share Repurchase Program - USD ($) $ / shares in Units, $ in Millions	2 Months Ended
	Mar. 29, 2022	Mar. 22, 2022	Dec. 02, 2021
Subsequent Event [Line Items]
Stock repurchase program, number of shares authorized (up to) (in shares)			1,500,000
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, number of shares authorized (up to) (in shares)		500,000
Stock repurchased during period (in shares)	1,500,000
Stock repurchased during period, value	$ 78.2
Stock repurchased, average price (in dollars per share)	$ 52.11