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Nice Ltd.
Earnings Release • May 14, 2020
6950_rns_2020-05-14_7d1d155a-8dda-4183-9777-f6341ebd0bde.pdf
Earnings Release
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NICE Reports 27% Growth in Cloud Revenue For the First Quarter of 2020 Double Digit Growth in Operating Income and Earnings Per Share
Hoboken, New Jersey, May 14, 2020 - NICE (NASDAQ: NICE) today announced results for the first quarter ended March 31, 2020.
First Quarter 2020 Financial Highlights
| GAAP | Non-GAAP |
|---|---|
| Revenue of \$410 million, growth of 9% year-over-year |
Revenue of \$411 million, growth of 9% year-over-year |
| Cloud revenue of \$173 million, growth of 27% year-over-year |
Cloud revenue of \$173 million, growth of 27% year-over-year |
| Gross margin of 65.9% compared to 65.2% last year | Gross margin of 70.9% compared to 70.5% last year |
| Operating income of \$59 million compared to \$52 million last |
Operating income of \$111 million compared to \$97 million |
| year, growth of 13% | last year, growth of 14% |
| Operating margin of 14.3% compared to 13.8% last year | Operating margin of 26.9% compared to 25.7% last year |
| Diluted EPS of \$0.71 versus \$0.58 last year, growth of 22% |
Diluted EPS of \$1.34 versus \$1.18 last year, growth of 14% |
"We are pleased to report strong first quarter results driven by an accelerated 27% growth in cloud revenue. We also delivered double-digit growth in operating income and earnings per share with further expansion of our operating margin," said Barak Eilam, CEO NICE. "In light of the current environment, these strong results demonstrate the mission critical nature of our solutions and the strength of our cloud business driven by our three market leading cloud platforms, CXone for Customer Experience, X-Sight for Financial Crime and Compliance, and NICE Investigate for Public Safety."
Mr. Eilam continued, "At the onset of COVID-19, we took immediate action, responding with solutions to provide customers the help they needed to quickly overcome the challenges they faced in this new environment, specifically their ability to move rapidly to the cloud and transform to digital. In fact, we signed up dozens of customers with thousands of agents for our CXone@home offering aimed at helping these customers shift their agents to work from home. I am pleased to see that we have witnessed great response to our offerings across all our business segments that provided the agility these organizations needed.
"At the same time, these organizations are preparing for the next phase - the transformation to cloud and digital. Furthermore, their ability to respond very rapidly in the last few months and manage changes that they thought would take years instead of days is giving them confidence that they have the ability to transform quickly. While we are faced with some unpredictability in the short term due to the economic environment, we continue to experience strong growth in our cloud business. As the clear leader in both cloud and digital in our markets, along with a strong balance sheet, strong cash generation and a keen focus on execution and profitability, we are clearly in the best competitive position to provide the platforms that these organizations need to transform their operations."
GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2020 total revenues increased 8.9% to \$410.4 million compared to \$377.0 million for the first quarter of 2019.
Gross Profit: First quarter 2020 gross profit and gross margin increased to \$270.3 million and 65.9%, respectively, compared to \$246.0 million and 65.2%, respectively, for the first quarter of 2019.
Operating Income: First quarter 2020 operating income and operating margin increased to \$58.8 million and 14.3%, respectively, compared to \$51.9 million and 13.8%, respectively, for the first quarter of 2019.
Net Income: First quarter 2020 net income and net income margin increased to \$46.1 million and 11.2%, respectively, compared to \$37.1 million and 9.8%, respectively, for the first quarter of 2019.
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the First quarter of 2020 increased 22.4% to \$0.71, compared to \$0.58 in the first quarter of 2019.
Operating Cash Flow and Cash Balance: First quarter 2020 operating cash flow was \$154.8 million. In the first quarter, \$24.1 million was used for share repurchases. As of March 31, 2020, total cash and cash equivalents, short and long term investments were \$1,035.4 million, and total debt was \$467.2 million.
Non-GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2020 Non-GAAP total revenues increased 8.8% to \$411.2 million compared to \$377.9 million for the first quarter of 2019.
Gross Profit: First quarter 2020 Non-GAAP gross profit and gross margin increased to \$291.6 million and 70.9%, respectively, compared to \$266.5 million and 70.5%, respectively, for the first quarter of 2019.
Operating Income: First quarter 2020 Non-GAAP operating income and Non-GAAP operating margin increased to \$110.5 million and 26.9%, respectively, compared to \$97.0 million and 25.7%, respectively, for the first quarter of 2019.
Net Income: First quarter 2020 Non-GAAP net income and Non-GAAP net income margin increased to \$87.9 million and 21.4%, respectively, from \$75.5 million and 20.0%, respectively, for the first quarter of 2019.
Fully Diluted Earnings Per Share: First quarter 2020 Non-GAAP fully diluted earnings per share increased 13.6% to \$1.34, compared to \$1.18 for the first quarter of 2019.
Second Quarter and Full Year 2020 Guidance:
NICE's guidance is based on current market conditions and expectations. The guidance is subject to various cautionary factors referenced in the section entitled "Forward-Looking Statements" below, including risks and uncertainties associated with the COVID-19 pandemic.
Second Quarter 2020: Second quarter 2020 Non-GAAP total revenues are expected to be in a range of \$387 million to \$397 million. Second quarter 2020 Non-GAAP fully diluted earnings per share are expected to be in a range of \$1.28 to \$1.38.
Given uncertainties related to the COVID-19 pandemic and the rapidly changing global economic environment, the company is withdrawing its previously issued full-year 2020 guidance provided February 13, 2020.
Quarterly Results Conference Call
NICE management will host its earnings conference call today May 14th, 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 975 313 67. 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 706 733 80.
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.
About NICE
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.
Investors
Marty Cohen, +1 551 256 5354, [email protected], ET Yisca Erez, +972 9 775-3798, [email protected], CET
Media Contact
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.
Forward-Looking Statements
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, analytics and artificial intelligence 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.
$$\mu_{\text{tot}}$$
NICE LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
| Quarter ended March 31, |
||||
|---|---|---|---|---|
| 2020 Unaudited |
2019 Unaudited |
|||
| Revenue: | ||||
| Product | \$ 64,608 |
\$ 70,031 |
||
| Services | 173,192 | 170,918 | ||
| Cloud | 172,628 | 136,078 | ||
| Total revenue | 410,428 | 377,027 | ||
| Cost of revenue: | ||||
| Product | 6,104 | 5,881 | ||
| Services | 53,513 | 55,123 | ||
| Cloud | 80,468 | 70,046 | ||
| Total cost of revenue | 140,085 | 131,050 | ||
| Gross profit | 270,343 | 245,977 | ||
| Operating expenses: | ||||
| Research and development, net | 52,781 | 46,566 | ||
| Selling and marketing | 99,816 | 102,067 | ||
| General and administrative | 49,113 | 34,714 | ||
| Amortization of acquired intangible assets | 9,805 | 10,701 | ||
| Total operating expenses | 211,515 | 194,048 | ||
| Operating income | 58,828 | 51,929 | ||
| Finance and other expense, net | 1,650 | 3,418 | ||
| Income before tax | 57,178 | 48,511 | ||
| Taxes on income | 11,064 | 11,447 | ||
| Net income | 46,114 | 37,064 | ||
| Less: net loss attributable to non-controlling interests | 84 | - | ||
| Net income attributable to Nice Ltd.'s shareholders | 46,198 | 37,064 | ||
| Earnings per share: | ||||
| Basic | \$ 0.74 |
\$ 0.60 |
||
| Diluted | \$ 0.71 |
\$ 0.58 |
||
| Weighted average shares outstanding: | ||||
| Basic | 62,477 | 61,842 | ||
| Diluted | 65,335 | 63,759 |
NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS U.S. dollars in thousands (except per share amounts)
| Quarter ended | |||
|---|---|---|---|
| March 31, | |||
| 2020 | 2019 | ||
| GAAP revenues | \$ 410,428 |
\$ | 377,027 |
| Valuation adjustment on acquired deferred product revenue | - | 15 | |
| Valuation adjustment on acquired deferred services revenue | - | 2 | |
| Valuation adjustment on acquired deferred cloud revenue Non-GAAP revenues |
\$ 779 411,207 |
\$ | 872 377,916 |
| GAAP cost of revenue | \$ 140,085 |
\$ | 131,050 |
| Amortization of acquired intangible assets on cost of product | (1,134) | (870) | |
| Amortization of acquired intangible assets on cost of services | (1,522) | (1,535) | |
| Amortization of acquired intangible assets on cost of cloud | (15,558) | (14,805) | |
| Valuation adjustment on acquired deferred cost of cloud | 293 | 686 | |
| Cost of product revenue adjustment (1) | (68) | (105) | |
| Cost of services revenue adjustment (1) | (1,600) | (2,144) | |
| Cost of cloud revenue adjustment (1,2) | (844) | (907) | |
| Non-GAAP cost of revenue | \$ 119,652 |
\$ | 111,370 |
| GAAP gross profit | \$ 270,343 |
\$ | 245,977 |
| Gross profit adjustments | 21,212 | 20,569 | |
| Non-GAAP gross profit | \$ 291,555 |
\$ | 266,546 |
| GAAP operating expenses | \$ 211,515 |
\$ | 194,048 |
| Research and development (1) | (2,615) | (1,562) | |
| Sales and marketing (1,2) General and administrative (1,2) |
(5,265) (12,834) |
(5,676) (6,610) |
|
| Amortization of acquired intangible assets | (9,805) | (10,702) | |
| Valuation adjustment on acquired deferred commission | 35 | 93 | |
| Non-GAAP operating expenses | \$ 181,031 |
\$ | 169,591 |
| GAAP finance & other expense (income), net | \$ 1,650 |
\$ | 3,418 |
| Amortization of discount on debt | (2,342) | (2,308) | |
| Non-GAAP finance & other expense (income), net | \$ (692) |
\$ | 1,110 |
| GAAP taxes on income | \$ 11,064 |
\$ | 11,447 |
| Tax adjustments re non-GAAP adjustments | 12,291 | 8,882 | |
| Non-GAAP taxes on income | \$ 23,355 |
\$ | 20,329 |
| GAAP net income | \$ 46,114 |
\$ | 37,064 |
| Valuation adjustment on acquired deferred revenue | 779 | 889 | |
| Valuation adjustment on acquired deferred cost of cloud revenue | (293) | (686) | |
| Amortization of acquired intangible assets | 28,019 | 27,912 | |
| Valuation adjustment on acquired deferred commission | (35) | (93) | |
| Share-based compensation (1) | 21,645 | 17,004 | |
| Acquisition related expenses (2) | 1,581 | - | |
| Amortization of discount on long term debt | 2,342 | 2,308 | |
| Tax adjustments re non-GAAP adjustments | (12,291) | (8,882) | |
| Non-GAAP net income | \$ 87,861 |
\$ | 75,516 |
| GAAP diluted earnings per share | \$ 0.71 |
\$ | 0.58 |
| Non-GAAP diluted earnings per share | \$ 1.34 |
\$ | 1.18 |
| Shares used in computing GAAP diluted earnings per share | 65,335 | 63,759 | |
| Shares used in computing non-GAAP diluted earnings per share | 65,335 | 63,759 |
NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands
(1) Share-based Compensation
| Quarter ended March 31, |
|||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Cost of product revenue | \$ | 68 | \$ | 105 | |
| Cost of services revenue | 1,600 | 2,144 | |||
| Cost of cloud revenue | 844 | 907 | |||
| Research and development | 2,615 | 1,562 | |||
| Sales and marketing | 5,177 | 5,676 | |||
| General and administrative | 11,341 | 6,610 | |||
| \$ | 21,645 | \$ | 17,004 |
(2) Acquisition related expenses
| Quarter ended March 31, |
||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Sales and marketing | \$ 88 |
\$ | - | |
| General and administrative | 1,493 | - | ||
| \$ 1,581 |
\$ | - |
NICE LTD. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
| Quarter ended March 31, |
|||
|---|---|---|---|
| 2020 | 2019 | ||
| Unaudited | Unaudited | ||
| Operating Activities | |||
| Net income | \$ 46,114 |
37,064 | |
| Depreciation and amortization | 44,050 | 41,808 | |
| Stock based compensation | 21,568 | 17,004 | |
| Amortization of premium and discount and accrued interest on marketable securities | 748 | (341) | |
| Deferred taxes, net | (9,192) | (7,858) | |
| Changes in operating assets and liabilities: | |||
| Trade Receivables | 659 | 30,723 | |
| Prepaid expenses and other assets | (14,091) | (20,582) | |
| Trade payables | 12,478 | (825) | |
| Accrued expenses and other current liabilities | 11,897 | 32,438 | |
| Operating lease right-of-use assets, net | 4,149 | 4,117 | |
| Deferred revenue | 38,513 | 53,407 | |
| Long term liabilities | - | 123 | |
| Operating lease liabilities | (5,557) | (5,505) | |
| Amortization of discount on long term debt | 2,343 | 2,307 | |
| Other | 1,143 | (1,468) | |
| Net cash provided by operating activities | 154,822 | 182,412 | |
| Investing Activities | |||
| Purchase of property and equipment | (9,633) | (8,416) | |
| Purchase of Investments | (85,427) | (191,308) | |
| Proceeds from Investments | 85,885 | 76,950 | |
| Capitalization of software development costs | (9,287) | (8,494) | |
| Payments for business acquisitions, net of cash acquired | (50,836) | - | |
| Net cash used in investing activities | (69,298) | (131,268) | |
| Financing Activities | |||
| Proceeds from issuance of shares upon exercise of share options | 1,484 | 1,617 | |
| Purchase of treasury shares | (24,070) | (10,100) | |
| Capital Lease payments | (162) | (253) | |
| Net cash used in financing activities | (22,748) | (8,736) | |
| Effect of exchange rates on cash and cash equivalents | (1,987) | 189 | |
| Net change in cash and cash equivalents | 60,789 | 42,597 | |
| Cash and cash equivalents, beginning of period | \$ 228,323 |
\$ 242,099 |
|
| Cash and cash equivalents, end of period | \$ 289,112 |
\$ 284,696 |
NICE LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
| March 31, 2020 Unaudited |
December 31, 2019 Audited |
|
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | \$ 289,112 |
\$ 228,323 |
| Short-term investments | 192,525 | 210,772 |
| Trade receivables | 315,786 | 319,622 |
| Prepaid expenses and other current assets | 130,163 | 116,972 |
| Total current assets | 927,586 | 875,689 |
| LONG-TERM ASSETS: | ||
| Long-term investments | 553,732 | 542,389 |
| Property and equipment, net | 141,775 | 141,647 |
| Deferred tax assets | 30,626 | 30,513 |
| Other intangible assets, net | 405,710 | 411,019 |
| Operating lease right-of-use assets | 103,649 | 106,196 |
| Goodwill | 1,428,056 | 1,378,418 |
| Other long-term assets | 124,762 | 124,034 |
| Total long-term assets | 2,788,310 | 2,734,216 |
| TOTAL ASSETS | \$ 3,715,896 |
\$ 3,609,905 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Trade payables | \$ 40,979 |
\$ 30,376 |
| Deferred revenues and advances from customers | 274,793 | 245,792 |
| Current maturities of operating leases | 21,200 | 21,519 |
| Exchangeable senior notes | 253,616 | 251,583 |
| Accrued expenses and other liabilities | 407,391 | 391,685 |
| Total current liabilities | 997,979 | 940,955 |
| LONG-TERM LIABILITIES: | ||
| Deferred revenues and advances from customers | 31,199 | 26,045 |
| Operating leases | 99,780 | 103,490 |
| Deferred tax liabilities | 46,494 | 52,509 |
| Loan | 213,542 | 213,313 |
| Other long-term liabilities | 16,197 | 16,327 |
| Total long-term liabilities | 407,212 | 411,684 |
| SHAREHOLDERS' EQUITY | ||
| Nice Ltd's equity | 2,285,804 | 2,257,266 |
| Non-controlling interests | 24,901 | - |
| Total shareholders' equity | 2,310,705 | 2,257,266 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | \$ 3,715,896 |
\$ 3,609,905 |
נייס מדווחת על גידול של 27% בהכנסות מעסקי הענן ברבעון הראשון של 2020
צמיחה דו ספרתית ברווח התפעולי וברווח למניה
הובוקן, ניו ג'רזי , 14 במאי, 2020 – נייס )נאסד"ק: NICE )פרסמה היום את התוצאות לרבעון הראשון של 2020 שהסתיים ב - 31 במרץ, .2020
עיקרי התוצאות לרבעון הר אשון של :2020
| GAAP | Non-GAAP |
|---|---|
| לאשתקד | לאשתקד |
| בהשוואה | בהשוואה |
| ל 9% | ל 9% |
| ר, גידול ש | ר, גידול ש |
| מיליון דול | מיליון דול |
| של 410 | של 411 |
| הכנסות | הכנסות |
| מאשתקד | מאשתקד |
| ל 27% | ל 27% |
| ר, גידול ש | ר, גידול ש |
| מיליון דול | מיליון דול |
| 173 | 173 |
| ענן בסך | ענן בסך |
| הכנסות מ | הכנסות מ |
| אשתקד | אשתקד |
| 65.2% | 70.5% |
| לעומת | לעומת |
| ל 65.9% | ל 70.9% |
| ח גולמי ש | ח גולמי ש |
| שיעור רוו | שיעור רוו |
| ר, גידול מיליון דול 52 ל- בהשוואה ר מיליון דול לי של 59 רווח תפעו |
ר, גידול מיליון דול 97 ל- בהשוואה ר מיליון דול 111 לי של רווח תפעו |
| של 13% | של 14% |
| אשתקד | אשתקד |
| 13.8% | 25.7% |
| לעומת | לעומת |
| 14.3% | 26.9% |
| של | של |
| ח תפעולי | ח תפעולי |
| שיעור רוו | שיעור רוו |
| דולר | דולר |
| 0.58 | 1.18 |
| וואה ל- | וואה ל- |
| דולר בהש | דולר בהש |
| 0.71 | של 1.34 |
| מלא של | מלא |
| ה בדילול | ה בדילול |
| רווח למני | רוו ח למני |
| של 22% | של 14% |
| ידול | ידול |
| אשתקד, ג | אשתקד, ג |
"אנו שמחים לדווח על תוצאות חזקות לרבעון הראשון של השנה הנובעות מצמיחה מואצת של 27% בהכנסות הענן. בנוסף, אנו מדווחים על גידול דו ספרתי ברווח התפעולי וברווח למניה, עם המשך התרחבות של שיעור הרווח התפעולי," אמר ברק עילם, מנכ"ל נייס.
"לאור המצב הנוכחי, התוצאות החזקות האלו ממחישות את הצורך הקריטי במוצרים שלנו ואת העוצמה של עסקי הענן שלנו שבאים לידי ביטוי בשלוש פלטפורמות מובילות שוק, CXone עבור שוק ה - Exprience Customer, sight-X עבור שוק ה- Financial ."Public Safety -ה שוק עבור NICE Investigate -ו Crime and Complaince
מר עילם הוסיף, " עם התפרצות מגיפת הקורונה, נקטנו בפעולות מיידיות והשקנו מוצרים על מנת לעזור ללקוחות שלנו להתגבר במהירות על האתגרים העומדים בפניהם בסביבה חדשה זו, וביחוד לסייע להם לעבור במהירות לענן ולדיגיטל. סיפקנו לעשרות לקוחות עם אלפי נציגי שירות את home@CXone במטרה לעזור להם להעביר את נציגי השירות לעבודה מהבית. אנחנו זוכים לתגובות מצוינות למוצרים שלנו בסגמנטים השונים, המאפשרים לארגונים לפעול במהירות ובזריזות".
"במקביל, ארגונים רבים נערכים לשלב הבא - המעבר לענן ולדיגיטל. יתרה מזאת, היכולת שלהם בחודשים האחרונים להגיב במהירות רבה ולהתמודד בתוך מספר ימים עם שינויים שבעבר חשבו שידרשו היערכות של שנים, נוסכת בהם בטחון שיש להם את היכולת לבצע שינויים במהירות. בעוד שאנו עומדים בפני מצב של חוסר ודאות בטווח הקצר בשל הסביבה הכלכלית, אנו ממשיכים לראות צמיחה גבוהה בעסקי הענן שלנו. כמובילת שוק ברורה בשווקים שלה הן בענן והן בדיגיטל, ביחד עם מאזן ותזרים מזומנים חזקים ומיקוד בביצועים ובריווחיות, נייס נמצאת ללא ספק במצב התחרותי הטוב ביותר לספק את הפלטפורמות לארגונים אשר זקוקים להן על מנת לשנות את אופן פעולתם".
עיקרי התוצאות הפיננסיות ) GAAP )לרבעון ה ראשון שהסתיים ב- 31 במרץ:
הכנסות: ההכנסות ברבעון הראשון של 2020 גדלו ב - 8.9% ל- 410.4 מיליון דולר, לעומת 377.0 מיליון דולר ברב עון הראשון של .2019
רווח גולמי : הרווח הגולמי ושיעור הרווח הגולמי ברבעון הראשון של 2020 גדלו ל- 270.3 מיליון דולר ו- ,65.9% בהתאמה, לעומת 246.0 מיליון דולר ו - ,65.2% בהתאמה, ברבעון הראשון של .2019
רווח תפעולי : הרווח התפעולי ושיעור הרווח התפעולי ברבעון הראשון של 2020 גדלו ל- 58.8 מיליון דולר ו- ,14.3% בהתאמה, לעומת 51.9 מיליון דולר ו - ,13.8% בהתאמה, ברבעון הראשון של .2019
רווח נקי : הרווח הנקי ושיעור הרווח הנקי ברבעון הראשון של 2020 גדלו ל- 46.1 מיליון דולר ו- ,11.2% בהתאמה, לעומת 37.1 מיליון דולר ו - ,9.8% בהתאמה ברבעון הראשון של .2019
רווח למניה בדילול מלא: הרווח למניה בדילול מלא ברבעון הראשון של 2020 גדל ב - 22.4% ל - 0.71 דולר לעומת 0.58 דולר ברבעון הראשון של .2019
תזרים המזומנים מפעילות שוטפת ויתרת מזומנים: תזרים המזומנים מפעילות שוטפת ברבעון הראשון של 2020 היה 154.8 מיליון דולר . ברבעון הראשון 24.1 מיליון דולר שימשו לרכישה חוזרת של מניות . נכון ל - 31 במרץ ,2020 יתרות המזומנים ושווי המזומנים, וכן השקעות לטווח קצר וארוך הסתכמו ב- 1,035.4 מיליון דולר . סך החוב הסתכם ב- 467.2 מיליון דולר.
עיקרי התוצאות הפיננסיות ) GAAP-Non )לרבעון הראשון שהסתיים ב31- במרץ:
הכנסות: ההכנסות )GAAP-Non )ברבעון הראשון של 2020 גדלו ל - 411.2 מיליון דולר, גידול של 8.8% לעומת 377.9 מיליון דולר ברבעון הראשון של .2019
רווח גולמי : הרווח הגולמי )GAAP-Non )ושיעור הרווח הגולמי )GAAP-Non )ברבעון הראשון של 2020 גדלו ל - 291.6 מיליון דולר ו- ,70.9% בהתאמה, ל עומת 266.5 מיליון דולר ו- ,70.5% בהתאמה, ברבעון הראשון של .2019
רווח תפעולי : הרווח התפעולי )GAAP-Non )וש יעור הרווח התפעולי )GAAP-Non )ברבעון הראשון של 2020 גדלו ל- 110.5 מיליון דולר ו - ,26.9% בהתאמה, לעומת 97.0 מיליון דולר ו- ,25.7% בהתאמה, ברבעון הראשון של .2019
רווח נקי : הרווח הנקי )GAAP-Non )ושיעור הרווח הנקי ) GAAP-Non )ברבעון הראשון של 2020 גדלו ל- 87.9 מיליון דולר ו - ,21.4% בהתאמה, ל עומת 75.5 מיליון דולר ו - 20.0% בהתאמה ברבעון הראשון של .2019
רווח למניה בדילול מלא: הרווח )GAAP-Non )למניה בדילול מלא ברבעון הראשון של 2020 גדל ב- 13.6% ל- 1.34 דולר לעומת 1.18 דולר ברבעון הראשון של .2019
תחזית לרבעון השני ול שנת :2020
התחזית שנייס מספקת מבוססת על תנאי השוק ועל ציפיות. התחזית כפופה לגורמי סיכון משתנים כפי שמפורטים בפסקת Statement Looking Forward למטה, הכוללת סיכונים וחוסר ודאות הקשורים למגיפת הקורונה )-19COVID).
התחזיות לרבעון השני של :2020 סך ההכנסות )GAAP-Non )ברבעו ן השני של ,2020 צפוי להסתכם ב- 387 מיל יון דולר עד 397 מיליון דולר.
הרווח )GAAP-Non )למניה בדילול מלא ברבעון השני של 2020 צפוי להיות בטווח של 1.28 דולר עד 1.38 דולר.
בשל חוסר הודאות הקשורה למגיפת הקורונה ולסביבה הכלכלית העולמית המשתנה במהירות, החברה מושכת את תחזיותיה הקודמות לשנת 2020 אשר ניתנו ב 13- בפברואר .2020
שיחת ועידה לדיון בתוצאות הרבעוניות
הנהלת נייס תארח שיחת ועידה לדיון בתוצאות הפיננסיות ובתחזית החברה היום, 14 במאי ,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 67 313 .975 מספרי גישה נוספים מוצגים ב- attended\_54=bid?/globalaccess/com.btconferencing.www://http. השיחה תשודר באינטרנט בשידור חי באתר .השיחה אחרי כשעתיים להאזנה זמינה ותהיהhttp://www.nice.com/news-and-events/ir-eventsבכתובת החברה הקלטה של השיחה תעמוד לרשות המעוניינים למשך 7 ימים אחרי השיד ור החי וניתן להאזין לה באמצעות חיוג המספר 1-877-482-6144 מארה"ב , 20-7136-9233(0)+44 ממדינות אחרות ו 0-800-032-9687- מבריטניה . קוד הכניסה להקלטה הוא 80 733 .706
אודות נייס
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 מע ל 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.
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Forward-Looking Statements
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, analytics and artificial intelligence 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.