nyte Software .(US:CGNT)2022-09-28 14:33Financial Performance - Q2 FYE23 revenue reached $81.1 million[7] - Software revenue was $27.0 million, software services revenue was $45.4 million, and professional services & other revenue was $8.6 million[7] - RPO (Remaining Performance Obligation) at the end of Q2 was $534 million, a sequential increase of approximately $20 million[7] - Non-GAAP gross margin was 65.1%, up approximately 400bps from Q1[7] - Non-GAAP operating expenses were $70.4 million, a sequential reduction of $4.4 million[7] Growth and Strategy - The company experienced a significant revenue decline[4] - Bookings were higher than revenue, driving a higher backlog[4] - The company is focusing resources on high-potential geographies and use cases[5] - Actions are being taken to reduce cost structure and improve backlog conversion visibility[5] Market Position and Outlook - The long-term opportunity remains intact due to pervasive security threats[5] - The company is a market leader with a long history of growth and a strong track record with customers[5] - The board and management are focused on returning to growth and profitability[5]