Earnings Release • Aug 6, 2020
Earnings Release
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Hoboken, New Jersey, August 6, 2020 - NICE (NASDAQ: NICE) today announced results for the second quarter ended June 30, 2020.
| GAAP | Non-GAAP |
|---|---|
| Cloud revenue of \$184 million, growth of 30% year-over-year | Cloud revenue of \$186 million, growth of 30% year-over-year |
| Total revenue of \$393 million, growth of 3% year-over-year | Total revenue of \$395 million, growth of 4% year-over-year |
| Gross margin of 65.5% compared to 65.6% last year | Gross margin of 71.0% compared to 70.9% last year |
| Cloud gross margin of 56.2% compared to 50.3% last year | Cloud gross margin of 65.7% compared to 61.4% last year |
| Operating income of \$56 million compared to \$53 million last | Operating income of \$111 million compared to \$101 million |
| year, an increase of 5% | last year, an increase of 10% |
| Operating margin of 14.3% compared to 14.1% last year | Operating margin of 28.2% compared to 26.6% last year |
| Diluted EPS of \$0.68 versus \$0.65 last year, 5% growth year | Diluted EPS of \$1.37 versus \$1.25 last year, 10% growth |
| over-year | year-over-year |
| Operating cash flow of \$60 million compared to \$18 million | |
| last year |
"We are pleased to report another quarter of strong and accelerated cloud growth as cloud revenues grew 30% year-overyear, combined with a continued substantial increase in profitability," said Barak Eilam, CEO of NICE. "The strong cloud performance demonstrates how well we are positioned, as enterprises of all sizes become intensely focused on extreme agility in a constantly changing environment."
Mr. Eilam continued, "Our recent business performance highlights that: 1) our solutions are mission critical now more than ever, 2) our cloud platforms are essential to enable a flexible work-from-home mode of operation, and 3) cloud and digital transformation, which are at the core of our business, are now dramatically accelerating in the enterprise market."
Revenues: Second quarter 2020 total revenues increased 3.4% to \$393.2 million compared to \$380.4 million for the second quarter of 2019.
Gross Profit: Second quarter 2020 gross profit increased to \$257.4 million from \$249.6 million. Second quarter 2020 gross margin was 65.5% compared to 65.6% for the second quarter of 2019.
Operating Income: Second quarter 2020 operating income and operating margin increased to \$56.1 million and 14.3%, respectively, compared to \$53.5 million and 14.1%, respectively, for the second quarter of 2019.
Net Income: Second quarter 2020 net income and net income margin increased to \$44.6 million and 11.3%, respectively, compared to \$42.1 million and 11.1%, respectively, for the second quarter of 2019.
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the second quarter of 2020 increased 4.6% to \$0.68, compared to \$0.65 in the second quarter of 2019.
Operating Cash Flow and Cash Balance: Second quarter 2020 operating cash flow was \$59.6 million. In the second quarter \$3.5 million was used for share repurchases. As of June 30, 2020, total cash and cash equivalents, short term investments were \$1,103.0 million, and total debt was \$469.6 million.
Revenues: Second quarter 2020 non-GAAP total revenues increased to \$395.1 million, up 3.6% from \$381.4 million for the second quarter of 2019.
Gross Profit: Second quarter 2020 non-GAAP gross profit and gross margin increased to \$280.5 million and 71.0%, respectively, from \$270.5 million and 70.9%, respectively for the second quarter of 2019.
Operating Income: Second quarter 2020 non-GAAP operating income and non-GAAP operating margin increased to \$111.4 million and 28.2%, respectively, from \$101.3 million and 26.6%, respectively, for the second quarter of 2019.
Net Income: Second quarter 2020 non-GAAP net income and non-GAAP net income margin increased to \$89.9 million and 22.7%, respectively, from \$80.9 million and 21.2%, respectively, for the second quarter of 2019.
Fully Diluted Earnings Per Share: Second quarter 2020 non-GAAP fully diluted earnings per share increased 9.6% to \$1.37, compared to \$1.25 for the second quarter of 2019.
Third quarter 2020 Non-GAAP total revenues are expected to be in a range of \$403 million to \$413 million. Third quarter 2020 Non-GAAP fully diluted earnings per share are expected to be in a range of \$1.33 to \$1.43.
NICE management will host its earnings conference call today August 6th, 2020 at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. To participate in the call, please dial into the following numbers: United States 1-866-804-8688 or +1-718-354-1175, International +44(0)1296-480-100, United Kingdom 0-800-783-0906, Israel 1-809-344-364. The Passcode is 608 059 84. Additional access numbers can be found at http://www.btconferencing.com/globalaccess/?bid=54\_attended. The call will be webcast live on the Company's website at https://www.nice.com/investor-relations/upcoming-event. An online replay will also be available approximately two hours following the call. A telephone replay of the call will be available for 7 days after the live broadcast and may be accessed by dialing: United States 1-877-482-6144, International +44(0)20-7136-9233, United Kingdom 0-800-032-9687. The Passcode for the replay is 973 031 96.
Non-GAAP financial measures are included in this press release. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude share-based compensation, amortization of acquired intangible assets, acquisition related expenses, amortization of discount on long term debt and the tax effect of the Non-GAAP adjustments. Business combination accounting rules require the recognition of a legal performance obligation related to a revenue arrangement of an acquired entity as a liability. The amount assigned to such liability should be based on its fair value at the date of acquisition. The Non-GAAP adjustment for a revenue arrangement is intended to reflect the full amount of such revenue. The Company believes that these Non-GAAP financial measures, used in conjunction with the corresponding GAAP measures, provide investors with useful supplemental information about the financial performance of our business. We believe Non-GAAP financial measures are useful to investors as a measure of the ongoing performance of our business. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business and to make financial, strategic and operating decisions. These Non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. These Non-GAAP financial measures may differ materially from the Non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income. The Company provides guidance only on a Non-GAAP basis. A reconciliation of guidance from a GAAP to Non-GAAP basis is not available due to the unpredictability and uncertainty associated with future events that would be reported in GAAP results and would require adjustments between GAAP and Non-GAAP financial measures, including the impact of future possible business acquisitions. Accordingly, a reconciliation of the guidance based on Non-GAAP financial measures to corresponding GAAP financial measures for future periods is not available without unreasonable effort.
NICE (Nasdaq: NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.
Marty Cohen, +1 551 256 5354, [email protected], ET Yisca Erez, +972 9 775-3798, [email protected], CET
Chris Irwin-Dudek, +1 (551) 256-5140, [email protected]
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NICE' marks, please see: http://www.nice.com/nice-trademarks.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company's management regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include guidance regarding the Company's revenue and earnings and the growth of our cloud business.
Forward looking statements are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with changes in economic and business conditions, competition, successful execution of the Company's growth strategy, success and growth of the Company's cloud Software-as-a-Service business, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners, rapidly changing technology, cyber security attacks or other security breaches against the Company, privacy concerns and legislation impacting the Company's business, changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). In addition, COVID-19 is contributing to a general slowdown in the global economy and may affect the Company's business, results of operations, financial condition and our future strategic plans. At this time, the extent to which the COVID-19 may impact the Company's financial condition or results of operations is uncertain. Furthermore, due to our subscription based business model, the effect of the COVID-19 may not be fully reflected in our results of operations until future periods, if at all. You are encouraged to carefully review the section entitled "Risk Factors" in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this presentation speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law.
U.S. dollars in thousands
| June 30, 2020 Unaudited |
December 31, 2019 Audited |
|
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | \$ 344,098 |
\$ 228,323 |
| Short-term investments | 758,918 | 210,772 |
| Trade receivables | 301,951 | 319,622 |
| Prepaid expenses and other current assets | 132,929 | 116,972 |
| Total current assets | 1,537,896 | 875,689 |
| LONG-TERM ASSETS: | ||
| Long-term investments | - | 542,389 |
| Property and equipment, net | 142,999 | 141,647 |
| Deferred tax assets | 32,451 | 30,513 |
| Other intangible assets, net | 377,355 | 411,019 |
| Operating lease right-of-use assets | 100,891 | 106,196 |
| Goodwill | 1,428,097 | 1,378,418 |
| Other long-term assets | 142,219 | 124,034 |
| Total long-term assets | 2,224,012 | 2,734,216 |
| TOTAL ASSETS | \$ 3,761,908 |
\$ 3,609,905 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Trade payables | \$ 27,731 |
\$ 30,376 |
| Deferred revenues and advances from customers | 276,772 | 245,792 |
| Current maturities of operating leases | 21,128 | 21,519 |
| Exchangeable senior notes | 255,610 | 251,583 |
| Accrued expenses and other liabilities | 372,132 | 391,685 |
| Total current liabilities | 953,373 | 940,955 |
| LONG-TERM LIABILITIES: | ||
| Deferred revenues and advances from customers | 29,336 | 26,045 |
| Operating leases | 97,333 | 103,490 |
| Deferred tax liabilities | 48,037 | 52,509 |
| Loan | 213,998 | 213,313 |
| Other long-term liabilities | 16,587 | 16,327 |
| Total long-term liabilities | 405,291 | 411,684 |
| SHAREHOLDERS' EQUITY | ||
| Nice Ltd's equity | 2,378,525 | 2,257,266 |
| Non-controlling interests | 24,719 | - |
| Total shareholders' equity | 2,403,244 | 2,257,266 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | \$ 3,761,908 |
\$ 3,609,905 |
U.S. dollars in thousands (except per share amounts)
| Quarter ended June 30, |
Year to date | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| June 30, | |||||||||
| 2020 Unaudited |
2019 Unaudited |
2020 Unaudited |
2019 Audited |
||||||
| Revenue: | |||||||||
| Product | \$ | 38,257 | \$ | 62,018 | \$ | 102,865 | \$ | 132,049 | |
| Services | 170,979 | 176,420 | 344,171 | 347,338 | |||||
| Cloud | 183,944 | 141,976 | 356,572 | 278,054 | |||||
| Total revenue | 393,180 | 380,414 | 803,608 | 757,441 | |||||
| Cost of revenue: | |||||||||
| Product | 5,173 | 5,651 | 11,277 | 11,532 | |||||
| Services | 50,037 | 54,619 | 103,550 | 109,742 | |||||
| Cloud | 80,523 | 70,495 | 160,991 | 140,541 | |||||
| Total cost of revenue | 135,733 | 130,765 | 275,818 | 261,815 | |||||
| Gross profit | 257,447 | 249,649 | 527,790 | 495,626 | |||||
| Operating expenses: | |||||||||
| Research and development, net | 53,756 | 46,456 | 106,537 | 93,022 | |||||
| Selling and marketing | 97,505 | 94,878 | 197,321 | 196,945 | |||||
| General and administrative | 40,398 | 44,029 | 89,511 | 78,743 | |||||
| Amortization of acquired intangible assets | 9,650 | 10,795 | 19,455 | 21,496 | |||||
| Total operating expenses | 201,309 | 196,158 | 412,824 | 390,206 | |||||
| Operating income | 56,138 | 53,491 | 114,966 | 105,420 | |||||
| Financial and other expense/(income), net | (423) | 724 | 1,227 | 4,142 | |||||
| Income before tax | 56,561 | 52,767 | 113,739 | 101,278 | |||||
| Taxes on income | 11,956 | 10,709 | 23,020 | 22,156 | |||||
| Net income | 44,605 | 42,058 | \$ | 90,719 | 79,122 | ||||
| Less: net loss attributable to non-controlling interests | 182 | - | 266 | - | |||||
| Net income attributable to Nice Ltd.'s shareholders | 44,787 | 42,058 | 90,985 | 79,122 | |||||
| Earnings per share: | |||||||||
| Basic Diluted |
\$ \$ |
0.71 0.68 |
\$ \$ |
0.68 0.65 |
\$ \$ |
1.45 1.39 |
\$ \$ |
1.28 1.23 |
|
| Weighted average shares outstanding: | |||||||||
| Basic | 62,638 | 62,116 | 62,557 | 61,980 | |||||
| Diluted | 65,633 | 64,650 | 65,484 | 64,205 |
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)
| Quarter ended | Year to date | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| June 30, | June 30, | ||||||||
| GAAP revenues | \$ 2020 393,180 |
\$ | 2019 380,414 |
\$ | 2020 803,608 |
\$ | 2019 757,441 |
||
| Valuation adjustment on acquired deferred product revenue | - | - | - | 15 | |||||
| Valuation adjustment on acquired deferred services revenue | - | - | - | 2 | |||||
| Valuation adjustment on acquired deferred cloud revenue | 1,950 | 953 | 2,729 | 1,825 | |||||
| Non-GAAP revenues | \$ 395,130 |
\$ | 381,367 | \$ | 806,337 | \$ | 759,283 | ||
| GAAP cost of revenue | \$ 135,733 |
\$ | 130,765 | \$ | 275,818 | \$ | 261,815 | ||
| Amortization of acquired intangible assets on cost of product | (1,125) | (979) | (2,259) | (1,849) | |||||
| Amortization of acquired intangible assets on cost of services | (1,497) | (1,534) | (3,019) | (3,069) | |||||
| Amortization of acquired intangible assets on cost of cloud | (16,064) | (15,043) | (31,622) | (29,848) | |||||
| Valuation adjustment on acquired deferred cost of cloud | 244 | 632 | 537 | 1,318 | |||||
| Cost of product revenue adjustment (1) | (68) | (102) | (136) | (207) | |||||
| Cost of services revenue adjustment (1) | (1,680) | (2,001) | (3,280) | (4,145) | |||||
| Cost of cloud revenue adjustment (1,2) | (948) | (877) | (1,792) | (1,784) | |||||
| Non-GAAP cost of revenue | \$ 114,595 |
\$ | 110,861 | \$ | 234,247 | \$ | 222,231 | ||
| GAAP gross profit | \$ 257,447 |
\$ | 249,649 | \$ | 527,790 | \$ | 495,626 | ||
| Gross profit adjustments | 23,088 | 20,857 | 44,300 | 41,426 | |||||
| Non-GAAP gross profit | \$ 280,535 |
\$ | 270,506 | \$ | 572,090 | \$ | 537,052 | ||
| GAAP operating expenses | \$ 201,309 |
\$ | 196,158 | \$ | 412,824 | \$ | 390,206 | ||
| Research and development (1,2) | (2,373) | (1,587) | (4,988) | (3,149) | |||||
| Sales and marketing (1,2) | (8,797) | (5,798) | (14,062) | (11,474) | |||||
| General and administrative (1,2) | (11,340) | (8,806) | (24,174) | (15,416) | |||||
| Amortization of acquired intangible assets | (9,650) | (10,794) | (19,455) | (21,496) | |||||
| Valuation adjustment on acquired deferred commission | 36 | 76 | 71 | 169 | |||||
| Non-GAAP operating expenses | \$ 169,185 |
\$ | 169,249 | \$ | 350,216 | \$ | 338,840 | ||
| GAAP financial and other expense/(income), net | \$ (423) |
\$ | 724 | \$ | 1,227 | \$ | 4,142 | ||
| Amortization of discount on debt | (2,532) | (2,162) | (4,874) | (4,470) | |||||
| Non-GAAP financial and other expense, net | \$ (2,955) |
\$ | (1,438) | \$ | (3,647) | \$ | (328) | ||
| GAAP taxes on income | \$ 11,956 |
\$ | 10,709 | \$ | 23,020 | \$ | 22,156 | ||
| Tax adjustments re non-GAAP adjustments | 12,499 | 11,052 | 24,790 | 19,934 | |||||
| Non-GAAP taxes on income | \$ 24,455 |
\$ | 21,761 | \$ | 47,810 | \$ | 42,090 | ||
| GAAP net income | \$ 44,605 |
\$ | 42,058 | \$ | 90,719 | \$ | 79,122 | ||
| Valuation adjustment on acquired deferred revenue | 1,950 | 953 | 2,729 | 1,842 | |||||
| Valuation adjustment on acquired deferred cost of cloud revenue | (244) | (632) | (537) | (1,318) | |||||
| Amortization of acquired intangible assets | 28,336 | 28,350 | 56,355 | 56,262 | |||||
| Valuation adjustment on acquired deferred commission | (36) | (76) | (71) | (169) | |||||
| Share-based compensation (1) | 25,206 | 18,328 | 46,851 | 35,332 | |||||
| Acquisition related expenses (2) | - | 843 | 1,581 | 843 | |||||
| Amortization of discount on long term debt | 2,532 | 2,162 | 4,874 | 4,470 | |||||
| Tax adjustments re non-GAAP adjustments | (12,499) | (11,052) | (24,790) | (19,934) | |||||
| Non-GAAP net income | \$ 89,850 |
\$ | 80,934 | \$ | 177,711 | \$ | 156,450 | ||
| GAAP diluted earnings per share | \$ 0.68 |
\$ | 0.65 | \$ | 1.39 | \$ | 1.23 | ||
| Non-GAAP diluted earnings per share | \$ 1.37 |
\$ | 1.25 | \$ | 2.71 | \$ | 2.44 | ||
| Shares used in computing GAAP diluted earnings per share | 65,633 | 64,650 | 65,484 | 64,205 | |||||
| Shares used in computing non-GAAP diluted earnings per share | 65,633 | 64,650 | 65,484 | 64,205 |
U.S. dollars in thousands
| Quarter ended June 30, |
Year to date June 30, |
|||||||
|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | |||||
| Cost of product revenue | \$ 68 |
\$ | 102 | \$ | 136 | \$ | 207 | |
| Cost of services revenue | 1,680 | 2,001 | 3,280 | 4,145 | ||||
| Cost of cloud revenue | 948 | 877 | 1,792 | 1,784 | ||||
| Research and development | 2,373 | 1,582 | 4,988 | 3,144 | ||||
| Sales and marketing | 8,797 | 5,768 | 13,974 | 11,444 | ||||
| General and administrative | 11,340 | 7,998 | 22,681 | 14,608 | ||||
| \$ 25,206 |
\$ | 18,328 | \$ | 46,851 | \$ | 35,332 |
| Quarter ended June 30, |
Year to date June 30, |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | 2020 | 2019 | ||||||
| Research and development | \$ - |
\$ | 5 | \$ | - | \$ | 5 | ||
| Sales and marketing | - | 30 | 88 | 30 | |||||
| General and administrative | - | 808 | 1,493 | 808 | |||||
| \$ - |
\$ | 843 | \$ | 1,581 | \$ | 843 |
U.S. dollars in thousands
| Quarter ended June 30, |
Year to date June 30, |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2020 Unaudited |
2019 Unaudited |
2020 Unaudited |
2019 Audited |
||||||
| Operating Activities | |||||||||
| Net income | \$ | 44,605 | \$ | 42,058 | \$ | 90,719 | \$ | 79,122 | |
| Depreciation and amortization | 45,601 | 43,012 | 89,651 | 84,820 | |||||
| Stock based compensation | 25,064 | 18,312 | 46,632 | 35,316 | |||||
| Amortization of premium and discount and accrued interest on marketable securitie(3s,618) | (233) | (2,870) | (574) | ||||||
| Deferred taxes, net | (678) | (10,764) | (9,870) | (18,622) | |||||
| Changes in operating assets and liabilities: | |||||||||
| Trade Receivables | 14,134 | (10,611) | 14,793 | 20,112 | |||||
| Prepaid expenses and other assets | (20,677) | (51,949) | (34,768) | (72,531) | |||||
| Trade payables | (13,283) | 4,543 | (805) | 3,718 | |||||
| Accrued expenses and other current liabilities | (33,357) | (22,822) | (21,460) | 9,616 | |||||
| Operating lease right-of-use assets, net | 4,363 | 3,379 | 8,512 | 7,496 | |||||
| Deferred revenue | (415) | 5,462 | 38,098 | 58,869 | |||||
| Long term liabilities | - | (403) | - | (280) | |||||
| Operating lease liabilities | (4,132) | (3,654) | (9,689) | (9,159) | |||||
| Amortization of discount on long term debt | 2,532 | 2,162 | 4,875 | 4,469 | |||||
| Other | (558) | (516) | 585 | (1,984) | |||||
| Net cash provided by operating activities | 59,581 | 17,976 | 214,403 | 200,388 | |||||
| Investing Activities | |||||||||
| Purchase of property and equipment | (7,823) | (6,566) | (17,456) | (14,982) | |||||
| Purchase of Investments | (69,061) | (114,834) | (154,488) | (306,142) | |||||
| Proceeds from Investments | 78,980 | 93,558 | 164,865 | 170,508 | |||||
| Capitalization of software development costs | (9,912) | (8,897) | (19,199) | (17,391) | |||||
| Payments for business and asset acquisitions, net of cash acquired | - | (25,788) | (50,836) | (25,788) | |||||
| Net cash used in investing activities | (7,816) | (62,527) | (77,114) | (193,795) | |||||
| Financing Activities | |||||||||
| Proceeds from issuance of shares upon exercise of share options | 5,865 | 1,401 | 7,349 | 3,018 | |||||
| Purchase of treasury shares | (3,531) | (4,615) | (27,601) | (14,715) | |||||
| Capital Lease payments | (15) | (187) | (177) | (440) | |||||
| Net cash provided by/(used in) financing activities | 2,319 | (3,401) | (20,429) | (12,137) | |||||
| Effect of exchange rates on cash and cash equivalents | 902 | (433) | (1,085) | (244) | |||||
| Net change in cash and cash equivalents | 54,986 | (48,385) | 115,775 | (5,788) | |||||
| Cash and cash equivalents, beginning of period | \$ | 289,112 | \$ | 284,696 | \$ | 228,323 | \$ | 242,099 | |
| Cash and cash equivalents, end of period | \$ | 344,098 | \$ | 236,311 | \$ | 344,098 | \$ | 236,311 |
הובוקן, ניו ג'רזי, 6 באוגוסט, 2020 – נייס (נאסד"ק: NICE (פרסמה היום את התוצאות לרבעון השני של 2020 שהסתיים ב30- ביוני, .2020
| GAAP | Non-GAAP |
|---|---|
| מאשתקד | מאשתקד |
| של 30% | של 30% |
| ל | ל |
| דולר, גידו | דולר, גידו |
| מיליון | מיליון |
| בסך 184 | בסך 186 |
| מענן | מענן |
| הכנסות | הכנסות |
| לאשתקד | לאשתקד |
| השוואה | השוואה |
| של 3% ב | של 4% ב |
| ל | ל |
| דולר, גידו | דולר, גידו |
| מיליון | מיליון |
| של 393 | של 395 |
| הכנסות | הכנסות |
| שתקד | שתקד |
| 65.6% א | 70.9% א |
| עומת | עומת |
| 65.5% ל | 71.0% ל |
| של | של |
| גולמי | גולמי |
| רווח | רווח |
| שיעור | שיעור |
| שתקד | שתקד |
| 50.3% א | 61.4% א |
| עומת | עומת |
| 56.2% ל | 65.7% ל |
| של | של |
| מענן | מענן |
| גולמי | גולמי |
| רווח | רווח |
| שיער | שיער |
| ל | ל |
| דולר, גידו | דולר, גידו |
| יון | ליון |
| ל- 53 מיל | ל- 101 מי |
| בהשוואה | בהשוואה |
| דולר | דולר |
| ליון | מיליון |
| של 56 מי | של 111 |
| תפעולי | תפעולי |
| רווח | רווח |
| של 5% | של 10% |
| שתקד | שתקד |
| 14.1% א | 26.6% א |
| עומת | עומת |
| 14.3% ל | 28.2% ל |
| של | של |
| תפעולי | תפעולי |
| רווח | רווח |
| שיעור | שיעור |
| ולר | ולר |
| ל- 0.65 ד | ל- 1.25 ד |
| בהשוואה | בהשוואה |
| דולר | דולר |
| של 0.68 | של 1.37 |
| מלא | מלא |
| בדילול | בדילול |
| למניה | למניה |
| רווח | רווח |
| של 5% | של 10% |
| ידול | ידול |
| אשתקד, ג | אשתקד, ג |
| ל- 18 בהשוואה דולר יליון בסך 60 מ שוטפת מפעילות מזומנים תזרים |
|
| אשתקד דולר מיליון |
"אנו שמחים לדווח על רבעון נוסף של צמיחה חזקה ומואצת של 30% בהכנסות מענן, יחד עם המשך גידול משמעותי ברווחים", אמר ברק עילם, מנכ"ל נייס. "ביצועי הענן החזקים ממחישים עד כמה אנו ממוצבים היטב, כדי לענות על צרכי ארגונים בכל הגדלים בתקופה בה הם ממוקדים מאוד בגמישות ובהתאמת הארגון לסביבה המשתנה ללא הרף".
מר עילם הוסיף, "הביצועים העסקיים האחרונים שלנו מדגישים: 1) שעכשיו, יותר מתמיד, הפתרונות שלנו קריטיים לתפקוד השוטף של הארגונים, 2) שפלטפורמות הענן שלנו חיוניות על מנת לאפשר עבודה גמישה מהבית, 3) שהענן והטרנספורמציה הדיגיטלית, הנמצאים בליבת העסקים שלנו, נמצאים כעת בהאצה משמעותית בקרב הארגונים".
הכנסות: ההכנסות ברבעון השני של 2020 גדלו ב- 3.4% ל- 393.2 מיליון דולר, לעומת 380.4 מיליון דולר ברבעון השני של .2019
רווח גולמי: הרווח הגולמי ברבעון השני של 2020 גדל ל- 257.4 מיליון דולר לעומת 249.6 מיליון דולר. שיעור הרווח הגולמי לרבעון השני של 2020 היה 65.5% לעומת 65.6% ברבעון השני של .2019
רווח תפעולי: הרווח התפעולי ושיעור הרווח התפעולי ברבעון השני של 2020 גדלו ל- 56.1 מיליון דולר ו- ,14.3% בהתאמה, לעומת 53.5 מיליון דולר ו- ,14.1% בהתאמה, ברבעון השני של .2019
רווח נקי: הרווח הנקי ושיעור הרווח הנקי ברבעון השני של 2020 גדלו ל- 44.6 מיליון דולר ו- ,11.3% בהתאמה, לעומת 42.1 מיליון דולר ו- ,11.1% בהתאמה ברבעון השני של .2019
רווח למניה בדילול מלא: הרווח למניה בדילול מלא ברבעון השני של 2020 גדל ב- 4.6% ל- 0.68 דולר לעומת 0.65 דולר ברבעון השני של .2019
תזרים המזומנים מפעילות שוטפת ויתרת מזומנים: תזרים המזומנים מפעילות שוטפת ברבעון השני של 2020 היה 59.6 מיליון דולר. ברבעון השני 3.5 מיליון דולר שימשו לרכישה חוזרת של מניות. נכון ל30- ביוני ,2020 יתרות המזומנים ושווי המזומנים, וכן השקעות לטווח קצר הסתכמו ב- 1,103.0 מיליון דולר. סך החוב הסתכם ב- 469.6 מיליון דולר.
הכנסות: ההכנסות (GAAP-Non (ברבעון השני של 2020 גדלו ל- 395.1 מיליון דולר, גידול של 3.6% לעומת 381.4 מיליון דולר ברבעון השני של .2019
רווח גולמי: הרווח הגולמי (GAAP-Non (ושיעור הרווח הגולמי (GAAP-Non (ברבעון השני של 2020 גדלו ל- 280.5 מיליון דולר ו- ,71.0% בהתאמה, לעומת 270.5 מיליון דולר ו- ,70.9% בהתאמה, ברבעון השני של .2019
רווח תפעולי: הרווח התפעולי (GAAP-Non (ושיעור הרווח התפעולי (GAAP-Non (ברבעון השני של 2020 גדלו ל- 111.4 מיליון דולר ו- ,28.2% בהתאמה, לעומת 101.3 מיליון דולר ו- ,26.6% בהתאמה, ברבעון השני של .2019
רווח נקי: הרווח הנקי (GAAP-Non (ושיעור הרווח הנקי (GAAP-Non (ברבעון השני של 2020 גדלו ל- 89.9 מיליון דולר ו- ,22.7% בהתאמה, לעומת 80.9 מיליון דולר ו- 21.2% בהתאמה ברבעון השני של .2019
רווח למניה בדילול מלא: הרווח (GAAP-Non (למניה בדילול מלא ברבעון השני של 2020 גדל ב- 9.6% ל- 1.37 דולר לעומת 1.25 דולר ברבעון השני של .2019
סך ההכנסות (GAAP-Non (ברבעון השלישי של ,2020 צפוי להסתכם ב- 403 מיליון דולר עד 413 מיליון דולר. הרווח (GAAP-Non (למניה בדילול מלא ברבעון השלישי של 2020 צפוי להיות בטווח של 1.33 דולר עד 1.43 דולר.
הנהלת נייס תארח שיחת ועידה לדיון בתוצאות הפיננסיות ובתחזית החברה היום, 6 באוגוסט ,2020 בשעה 8:30 בבוקר שעון החוף המזרחי של ארה"ב, 13:30 לפי שעון גריניץ' ו15:30- לפי שעון ישראל. להשתתפות בשיחה יש לחייג את המספרים הבאים: מארה"ב: 1-866-804-8688 או .+1-718-354-1175 ממדינות אחרות 1296-480-100(0)+44;
מבריטניה 0-800-783-0906; מישראל: .1-809-344-364 קוד הכניסה הוא 84 059 .608 מספרי גישה נוספים מוצגים ב- attended\_54=bid?/globalaccess/com.btconferencing.www://http. השיחה תשודר באינטרנט בשידור חי באתר החברה .השיחה אחרי כשעתיים להאזנה זמינה ותהיה http://www.nice.com/news-and-events/ir-events בכתובת הקלטה של השיחה תעמוד לרשות המעוניינים למשך 7 ימים אחרי השידור החי וניתן להאזין לה באמצעות חיוג המספר 1-877-482-6144 מארה"ב, 20-7136-9233(0)+44 ממדינות אחרות ו0-800-032-9687- מבריטניה. קוד הכניסה להקלטה הוא .973 031 96
נייס (NICE :NASDAQ, ת"א: נייס) הינה המובילה העולמית במתן פתרונות תוכנה, הן ברישיונות תוכנה והן בענן, המאפשרים לארגונים לנקוט בפעולה הבאה הטובה ביותר באמצעות כלים אנליטיים המנתחים מידע מובנה ושאינו מובנה. הפתרונות של נייס מסייעים לארגונים לשפר את חוויית הלקוח, להבטיח ציות לרגולציה, להיאבק בפשיעה פיננסית ולשמור על נכסים. הפתרונות של נייס נמצאים בשימוש של יותר מ25,000- ארגונים ביותר מ150- מדינות, כולל מעל 85 מהחברות המדורגות ב100- Fortune. www.nice.com
מסמך זה מהווה תרגום נוחות בלבד לעיקרי הדוחות ולהודעה לעיתונות באנגלית שפורסמה בארה"ב, המחייבת מבחינת החברה, והכוללת מידע נוסף, בין היתר בנוגע להפרשים בין GAAP ל- GAAP-Non.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NICE marks, please see: http://www.nice.com/nice-trademarks.
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company's management regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include guidance regarding the Company's revenue and earnings and the growth of our cloud business.
Forward looking statements are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with changes in economic and business conditions, competition, successful execution of the Company's growth strategy, success and growth of the Company's cloud Software-as-a-Service business, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners, rapidly changing technology, cyber security attacks or other security breaches against the Company, privacy concerns and legislation impacting the Company's business, changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). In addition, COVID-19 is contributing to a general slowdown in the global economy and may affect the Company's business, results of operations, financial condition and our future strategic plans. At this time, the extent to which the COVID-19 may impact the Company's financial condition or results of operations is uncertain. Furthermore, due to our subscription based business model, the effect of the COVID-19 may not be fully reflected in our results of operations until future periods, if at all. You are encouraged to carefully review the section entitled "Risk Factors" in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this presentation speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law.
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