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Nice Ltd.
Earnings Release • May 11, 2023
6950_rns_2023-05-11_aaba9347-0015-4077-805d-ec6ff9dffe54.pdf
Earnings Release
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SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2023 (Report No. 2)
Commission File Number: 0-27466
NICE LTD. (Translation of Registrant's Name into English)
13 Zarchin Street, P.O. Box 690, Ra'anana 4310602, Israel (Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
THE GAAP FINANCIAL STATEMENTS ATTACHED TO THE PRESS RELEASE ATTACHED HERETO AS EXHIBIT 99.1 OF THIS REPORT ON FORM 6-K ARE HEREBY INCORPORATED BY REFERENCE INTO NICE LTD.`S ("NICE") REGISTRATION STATEMENTS ON FORM S-8 (REGISTRATION STATEMENT NOS. 333-166364, 333-168100, 333-171165, 333-162795, 333-162110, 333-06784, 333-08146, 333-11842, 333-09350, 333-11154, 333-111112, 333-111113, 333-134355, 333- 144589, 333-145981, 333-153230, 333-177510, 333-179408, 333-181375, 333-191176, 333-199904, 333-210341, 333-210343, 333- 210344, 333-214584, 333-226930, 333-228911, 333-249186 and 333-270969), AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS SUBMITTED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.
CONTENTS
This Report on Form 6-K of NICE consists of the following documents, which are attached hereto and incorporated by reference herein:
99.1 Press Release: NICE Reports 25% Cloud Revenue Growth Leading to a Record First Quarter, Dated May 11, 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
NICE LTD.
By: /s/ Tali Mirsky Name: Tali Mirsky Title: Corporate VP, General Counsel and Corporate Secretary
Dated: May 11, 2023
EXHIBIT INDEX
99.1 Press Release: NICE Reports 25% Cloud Revenue Growth Leading to a Record First Quarter, Dated May 11, 2023.
NICE Reports 25% Cloud Revenue Growth Leading to a Record First Quarter
- Double-Digit Growth in Operating Income and EPS
- Quarterly Record of Cash Flow from Operations of \$195 million
- Company Raises Full-Year 2023 Guidance for Total Revenue and EPS
Hoboken, New Jersey, May 11, 2023 - NICE (NASDAQ: NICE) today announced results for the first quarter ended March 31, 2023, as compared to the corresponding period of the previous year.
First Quarter 2023 Financial Highlights
| GAAP | Non-GAAP |
|---|---|
| Total revenue was \$571.9 million and increased 8% |
Total revenue was \$571.9 million and increased 8% |
| (\$576.0 million in constant currency, up 9%) |
|
| Cloud revenue was \$367.6 million and increased 25% |
Cloud revenue was \$367.6 million and increased 25% |
| Cloud gross margin was 64.2% compared to 61.5% last year |
Cloud gross margin was 70.0% compared to 68.6% last |
| year | |
| Operating income was \$93.5 million and increased 29% |
Operating income was \$163.4 million and increased 10% |
| Operating margin was 16.4% compared to 13.7% last year |
Operating margin was 28.6% compared to 28.3% last year |
| Diluted EPS was \$1.15 and increased 32% |
Diluted EPS was \$2.03 and increased 13% |
| Operating cash flow was \$195.1 million |
"We are pleased to begin the year on a high note as we exceeded the high end of our guidance range on both total revenue and earnings per share," said Barak Eilam, CEO of NICE. "The outperformance was once again driven by great execution in the cloud as cloud revenue increased 25% year over year. Our cloud growth continues to outpace the market, and this growth is not only unique in its magnitude, but in its consistency as well. We also delivered another excellent quarter in profitability, evidenced by continued strong growth in the cloud gross margin, operating margin and record first quarter cash flow of \$195 million."
Mr. Eilam continued, "The first quarter was characterized by many seven-digit and eight-digit deals, demonstrating our superior win rate when it comes to delivering our CXone cloud platform at scale and our Enlighten AI CX solution. Our continued strong performance and clear market leadership are attributed to the tight alignment between our strategic priorities and sharp execution centered on expanding cloud market share, championing the AI opportunity, and our emphasis on profitable growth."
GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2023 total revenues increased 8% to \$571.9 million compared to \$527.4 million for the first quarter of 2022.
Gross Profit: First quarter 2023 gross profit was \$385.3 million compared to \$360.4 million for the first quarter of 2022 . First quarter 2023 gross margin was 67.4% compared to 68.3% for the first quarter of 2022.
Operating Income: First quarter 2023 operating income increased 29% to \$93.5 million compared to \$72.4 million for the first quarter of 2022. First quarter 2023 operating margin was 16.4% compared to 13.7% for the first quarter of 2022.
Net Income: First quarter 2023 net income increased 33% to \$76.9 million compared to \$57.9 million for the first quarter of 2022. First quarter 2023 net income margin was 13.5% compared to 11.0% for the first quarter of 2022.
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the first quarter of 2023 increased 32% to \$1.15 compared to \$0.87 in the first quarter of 2022.
Operating Cash Flow and Cash Balance: First quarter 2023 operating cash flow was \$195.1 million. In the first quarter 2023, \$64.7 million was used for share repurchases. As of March 31, 2023, total cash and cash equivalents, and short-term investments were \$1,684.8 million. Our debt, net of a hedge instrument, was \$543.5 million, resulting in net cash and investments of \$1,141.3 million.
Non-GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2023 total revenues increased 8% to \$571.9 million (up 9% in constant currency to \$576.0 million) compared to \$527.4 million for the first quarter of 2022.
Gross Profit: First quarter 2023 Non-GAAP gross profit increased to \$409.9 million compared to \$385.2 million for the first quarter of 2022. First quarter 2023 Non-GAAP gross margin was 71.7% compared to 73.0% for the first quarter of 2022.
Operating Income: First quarter 2023 Non-GAAP operating income increased 10% to \$163.4 million compared to \$149.0 million for the first quarter of 2022. First quarter 2023 Non-GAAP operating margin was 28.6% compared to 28.3% for the first quarter of 2022.
Net Income: First quarter 2023 Non-GAAP net income increased 13% to \$135.6 million compared to \$120.5 million for the first quarter of 2022. First quarter 2023 Non-GAAP net income margin totaled 23.7% compared to 22.8% for the first quarter of 2022.
Fully Diluted Earnings Per Share: First quarter 2023 Non-GAAP fully diluted earnings per share increased 13% to \$2.03 compared to \$1.80 for the first quarter of 2022.
Second Quarter and Full Year 2023 Guidance:
Second Quarter 2023:
Second quarter 2023 Non-GAAP total revenues are expected to be in a range of \$573 million to \$583 million, representing 9% growth year over year at the midpoint.
Second quarter 2023 Non-GAAP fully diluted earnings per share are expected to be in a range of \$2.00 to \$2.10, representing 10% growth year over year at the midpoint.
Raising Full Year 2023 Guidance:
The Company increased full-year 2023 Non-GAAP total revenues which are expected to be in a range of \$2,350 million to \$2,370 million, representing 8% growth at the midpoint compared to full year 2022.
The Company increased full-year 2023 Non-GAAP fully diluted earnings per share which are expected to be in a range of \$8.32 to \$8.52, representing 11% growth at the midpoint compared to full year 2022.
Quarterly Results Conference Call
NICE management will host its earnings conference call today May 11, 2023, 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 1-877-407-4018 or +1-201-689-8471, United Kingdom 0-800-756-3429, Israel 1-809-406-247. The call will be webcast live on the Company's website at https://www.nice.com/investor-relations/upcoming-event.
Explanation of Non-GAAP measures
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 debt and loss from extinguishment of debt and the tax effect of the Non-GAAP adjustments.
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.
Explanation of Constant Currency
NICE presents constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current results for transactions in currencies other than United States dollars are converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the current period. Future expected results for transactions in currencies other than United States dollars are converted into United States dollars using the exchange rates in effect in the last month of the reporting period. NICE has provided this financial information to aid investors in better understanding our performance. These constant currency financial measures presented in this release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
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.
Investor Relations Contact
Marty Cohen, +1 551 256 5354, [email protected], ET Omri Arens, +972 3 763-0127, [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, the effect of unexpected events or geo-political conditions, such as the COVID-19 pandemic, that may disrupt our business and the global economy and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC").
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 press release 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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NICE LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
| March 31, 2023 |
December 31, 2022 |
|||
|---|---|---|---|---|
| Unaudited | Audited | |||
| ASSETS | ||||
| CURRENT ASSETS: | ||||
| Cash and cash equivalents | \$ 630,661 |
\$ 529,596 |
||
| Short-term investments | 1,054,184 | 1,041,943 | ||
| Trade receivables | 503,751 | 518,517 | ||
| Debt hedge option | 160,474 | 122,323 | ||
| Prepaid expenses and other current assets | 211,431 | 204,754 | ||
| Total current assets | 2,560,501 | 2,417,133 | ||
| LONG-TERM ASSETS: | ||||
| Property and equipment, net | 169,062 | 159,285 | ||
| Deferred tax assets | 123,377 | 116,889 | ||
| Other intangible assets, net | 185,859 | 209,605 | ||
| Operating lease right-of-use assets | 101,415 | 102,893 | ||
| Goodwill | 1,620,802 | 1,617,118 | ||
| Prepaid expenses and other long-term assets | 232,306 | 231,496 | ||
| Total long-term assets | 2,432,821 | 2,437,286 | ||
| TOTAL ASSETS | \$ 4,993,322 | \$ 4,854,419 | ||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
| CURRENT LIABILITIES: | ||||
| Trade payables | \$ 54,902 |
\$ 56,019 |
||
| Deferred revenues and advances from customers | 376,785 | 338,930 | ||
| Current maturities of operating leases | 13,147 | 13,525 | ||
| Debt | 248,180 | 209,292 | ||
| Accrued expenses and other liabilities | 518,164 | 523,451 | ||
| Total current liabilities | 1,211,178 | 1,141,217 | ||
| LONG-TERM LIABILITIES: | ||||
| Deferred revenues and advances from customers | 53,704 | 57,211 | ||
| Operating leases | 97,320 | 99,262 | ||
| Deferred tax liabilities | 7,260 | 7,336 | ||
| Debt | 455,800 | 455,382 | ||
| Other long-term liabilities | 38,544 | 38,588 | ||
| Total long-term liabilities | 652,628 | 657,779 | ||
| SHAREHOLDERS' EQUITY | ||||
| Nice Ltd's equity | 3,117,584 | 3,042,085 | ||
| Non-controlling interests | 11,932 | 13,338 | ||
| Total equity | 3,129,516 | 3,055,423 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | \$ 4,993,322 | \$ 4,854,419 |
NICE LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
| Quarter ended March 31, |
|||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unaudited | Unaudited | ||||
| Revenue: | |||||
| Cloud | \$ 367,567 |
\$ | 294,592 | ||
| Services | 159,858 | 156,974 | |||
| Product | 44,435 | 75,863 | |||
| Total revenue | 571,860 | 527,429 | |||
| Cost of revenue: | |||||
| Cloud | 131,596 | 113,349 | |||
| Services | 47,905 | 46,908 | |||
| Product | 7,095 | 6,745 | |||
| Total cost of revenue | 186,596 | 167,002 | |||
| Gross profit | 385,264 | 360,427 | |||
| Operating expenses: | |||||
| Research and development, net | 78,102 | 76,578 | |||
| Selling and marketing | 148,479 | 152,618 | |||
| General and administrative | 65,176 | 58,867 | |||
| Total operating expenses | 291,757 | 288,063 | |||
| Operating income | 93,507 | 72,364 | |||
| Financial and other income, net | (8,721) | (486) | |||
| Income before tax | 102,228 | 72,850 | |||
| Taxes on income | 25,286 | 14,909 | |||
| Net income | \$ 76,942 |
\$ | 57,941 | ||
| Basic | \$ 1.20 |
\$ | 0.91 | ||
| Diluted | \$ 1.15 |
\$ | 0.87 | ||
| Weighted average shares outstanding: | |||||
| Basic | 63,941 | 63,736 | |||
| Diluted | 66,662 | 66,853 |
NICE LTD. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
| Quarter ended March 31, |
|||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unaudited | Unaudited | ||||
| Operating Activities | |||||
| Net income | \$ 76,942 |
\$ 57,941 |
|||
| Adjustments to reconcile net income to net cash provided by operating activities | |||||
| Depreciation and amortization | 41,846 | 44,281 | |||
| Share-based compensation | 44,961 | 48,184 | |||
| Amortization of premium and discount and accrued interest on marketable securities | 1,270 | 3,818 | |||
| Deferred taxes, net | (7,878) | (1,796) | |||
| Changes in operating assets and liabilities: | |||||
| Trade Receivables, net | 16,752 | (21,259) | |||
| Prepaid expenses and other current assets | (11,372) | (28,931) | |||
| Operating lease right-of-use assets | 3,068 | 3,942 | |||
| Trade payables | (1,180) | 9,078 | |||
| Accrued expenses and other current liabilities | (694) | 29,229 | |||
| Deferred revenues | 33,247 | 52,349 | |||
| Operating lease liabilities | (3,907) | (4,997) | |||
| Amortization of discount on long-term debt | 1,154 | 1,137 | |||
| Loss from extinguishment of debt | - | 1,092 | |||
| Other | 862 | (1,357) | |||
| Net cash provided by operating activities | 195,071 | 192,711 | |||
| Investing Activities | |||||
| Purchase of property and equipment | (13,106) | (9,584) | |||
| Purchase of Investments | (69,542) | (98,266) | |||
| Proceeds from Investments | 64,899 | 101,666 | |||
| Capitalization of internal use software costs | (14,136) | (10,671) | |||
| Net cash used in investing activities | (31,885) | (16,855) | |||
| Financing Activities | |||||
| Proceeds from issuance of shares upon exercise of options | 959 | 75 | |||
| Purchase of treasury shares | (64,715) | (63,842) | |||
| Dividends paid to noncontrolling interest | (1,480) | - | |||
| Repayment of debt | - | (18,093) | |||
| Net cash used in financing activities | (65,236) | (81,860) | |||
| Effect of exchange rates on cash and cash equivalents | 1,167 | (937) | |||
| Net change in cash, cash equivalents and restricted cash | 99,117 | 93,059 | |||
| Cash, cash equivalents and restricted cash, beginning of period | \$ 533,095 |
\$ 378,656 |
|||
| Cash, cash equivalents and restricted cash, end of period | \$ 632,212 |
\$ 471,715 |
|||
| Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet: | |||||
| Cash and cash equivalents | \$ | 630,661 | \$ | 471,715 | |
| Restricted cash included in other current assets | \$ | 1,551 | \$ | - | |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | \$ | 632,212 | \$ | 471,715 |
NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)
| Quarter ended | ||||
|---|---|---|---|---|
| March 31, | ||||
| 2023 | 2022 | |||
| GAAP revenues | \$ | 571,860 | \$ | 527,429 |
| Non-GAAP revenues | \$ | 571,860 | \$ | 527,429 |
| GAAP cost of revenue | \$ | 186,596 | \$ | 167,002 |
| Amortization of acquired intangible assets on cost of cloud | (19,369) | (18,665) | ||
| Amortization of acquired intangible assets on cost of services | - | (377) | ||
| Amortization of acquired intangible assets on cost of product | (249) | (276) | ||
| Valuation adjustment on acquired deferred cost of cloud | - | 15 | ||
| Cost of cloud revenue adjustment (1) | (1,947) | (2,324) | ||
| Cost of services revenue adjustment (1) | (2,885) | (2,967) | ||
| Cost of product revenue adjustment (1) | (138) | (132) | ||
| Non-GAAP cost of revenue | \$ | 162,008 | \$ | 142,276 |
| GAAP gross profit | \$ | 385,264 | \$ | 360,427 |
| Gross profit adjustments | 24,588 | 24,726 | ||
| Non-GAAP gross profit | \$ | 409,852 | \$ | 385,153 |
| GAAP operating expenses | \$ | 291,757 | \$ | 288,063 |
| Research and development (1) | (8,398) | (8,515) | ||
| Sales and marketing (1) | (11,102) | (16,269) | ||
| General and administrative (1) | (21,296) | (18,400) | ||
| Amortization of acquired intangible assets | (4,515) | (8,811) | ||
| Valuation adjustment on acquired deferred commission | 40 | 53 | ||
| Non-GAAP operating expenses | \$ | 246,486 | \$ | 236,121 |
| GAAP financial and other income, net | \$ | (8,721) | \$ | (486) |
| Amortization of discount and loss of extinguishment on debt | (1,154) | (2,229) | ||
| Non-GAAP financial and other income, net | \$ | (9,875) | \$ | (2,715) |
| GAAP taxes on income | \$ | 25,286 | \$ | 14,909 |
| Tax adjustments re non-GAAP adjustments | 12,308 | 16,351 | ||
| Non-GAAP taxes on income | \$ | 37,594 | \$ | 31,260 |
| GAAP net income | \$ | 76,942 | 57,941 | |
| Valuation adjustment on acquired deferred revenue | - | - | ||
| Valuation adjustment on acquired deferred cost of cloud revenue | - | (15) | ||
| Amortization of acquired intangible assets | 24,133 | 28,129 | ||
| Valuation adjustment on acquired deferred commission | (40) | (53) | ||
| Share-based compensation (1) | 45,766 | 48,607 | ||
| Amortization of discount and loss of extinguishment on debt | 1,154 | 2,229 | ||
| Tax adjustments re non-GAAP adjustments | (12,308) | (16,351) | ||
| Non-GAAP net income | \$ | 135,647 | \$ | 120,487 |
| GAAP diluted earnings per share | \$ | 1.15 | \$ | 0.87 |
| Non-GAAP diluted earnings per share | \$ | 2.03 | \$ | 1.80 |
| Shares used in computing GAAP diluted earnings per share | 66,662 | 66,853 | ||
| Shares used in computing non-GAAP diluted earnings per share | 66,662 | 66,853 |
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, |
|||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Cost of cloud revenue | \$ | 1,947 | \$ | 2,324 | |
| Cost of services revenue | 2,885 | 2,967 | |||
| Cost of product revenue | 138 | 132 | |||
| Research and development | 8,398 | 8,515 | |||
| Sales and marketing | 11,102 | 16,269 | |||
| General and administrative | 21,296 | 18,400 | |||
| \$ | 45,766 | \$ | 48,607 |
נייס מדווחת על רבעון שיא עם צמיחה של 25% בהכנסות מענן
- צמיחה דו -סיפרתית ברווח התפעולי וברווח למניה
- רבעון שיא של תזרים מזמוני ם מפעילות שוטפת בסך 195 מיליון דולר
- החברה מעלה את תחזית ההכנסות ו הרווח למניה לשנת 2023
הובוקן , ניו ג'רזי , 11 במאי, 2023 – נייס )נאסד"ק: NICE )פרסמה היום את התוצאות לרבעון הראשון לשנת 2023 בהשוואה לתקופה המקבילה אשתקד.
עיקרי התוצאות לרבעון הראשון של :2023
| GAAP | Non-GAAP |
|---|---|
| ל 8% ר, גידול ש מיליון דול של 571.9 ת סך הכנסו |
ל 8% ר, גידול ש מיליון דול 571.9 של ת סך הכנסו של 9%( בע, גידול פרשי מט בנטרול ה יליון דולר )576.0 מ |
| ל 25% | ל 25% |
| ר, גידול ש | ר, גידול ש |
| מיליון דול | מיליון דול |
| 367.6 | 367.6 |
| בסך | בסך |
| ענן | ענן |
| הכנסות מ | הכנסות מ |
| אשתקד | אשתקד |
| 61.5% | 68.6% |
| לעומת | לעומת |
| 64.2% | 70.0% |
| של | של |
| מענן | מענן |
| ח גולמי | ח גולמי |
| שיעור רוו | שיעור רוו |
| 29% | 10% |
| גידול של | גידול של |
| ר | ר |
| מיליון דול | מיליון דול |
| של 93.5 | של 163.4 |
| ולי | ולי |
| רווח תפע | רווח תפע |
| אשתקד | אשתקד |
| 13.7% | 28.3% |
| עומת | עומת |
| 16.4% ל | 28.6% ל |
| של | של |
| ח תפעולי | ח תפעולי |
| שיעור רוו | שיעור רוו |
| 32% | 13% |
| ל של | ל של |
| דולר, גידו | דולר, גידו |
| של 1.15 | של 2.03 |
| מלא | מלא |
| ה בדילול | ה בדילול |
| רווח למני | רווח למני |
| ר מיליון דול 195.1 של טפת עילות שו ומנים מפ תזרים מז |
"אנו שמחים להציג התחלה חזקה לשנה עם ביצועים מעל הטווח העליון של התחזית ברבעון הראשון הן בסך ההכנסות והן ברווח למניה", אמר ברק עילם, מנכ"ל נייס. "התוצאות מעל התחזית נבעו מהמשך הביצועים ה מצוינים בענן , שעלו ב 25%- לעומת הרבעון המקביל אשתקד . הצמיחה שלנו בענן ממשיכה להיות גבוהה יותר בפער משמעותי מול המתחרים , והיא ייחודית גם בהיקף ההכנסות ב ענן , ו גם ב עקביות שלה. רשמנו רבעון מצוין נוסף ברווחיות החברה המעיד על המשך צמיחה חזקה ברווח הגולמי בענן וברווח התפעולי וכן שיא רבעוני בתזרים המזומנים מפעילות שוטפת בסך 195 מיליון דולר".
מר עילם המשיך, "הרבעון הראשון התאפיין בעסקאות רבות של מיליוני ועשרות מיליוני דולרים , המשקפות את היתרון התחרותי שלנו שבא לידי ביטוי ביכולת של פלטפורמת הענן שלנו, CXone, לשרת את הארגונים הגדולים בעולם באופן מקיף ו במנוע הבינה המלאכותית הייח ודי שלנו, AI Enlighten. המשך התוצאות החזקות והמובילות שלנו בשוק הם תוצאה של הקשר ההדוק בין האסטרטגיה הסדורה לביצוע מוקפד המתמקד בהרחבת נתח השוק בענן, קידום הזדמנויות הבינה המלאכותית ודגש בלתי מתפשר על צמיחה רווחית".
עיקרי התוצאות הפיננסיות ) GAAP )לרבעון הראשון שהסתיים ב- 31 במרץ :
הכנסות:
ההכנסות ברבעון הראשון של 2023 גדלו ב- 8% ל - 571.9 מיליון דולר, לעומת 527.4 מיליון דולר אשתקד.
רווח גולמי :
הרווח הגולמי ברבעון הראשון של 2023 הסתכם ב- 385.3 מיליון דולר בהשוואה ל- 360.4 מיליון דולר אשתקד. שיעור הרווח הגולמי ברבעון הראשון של 2023 הסתכם ב- 67.4% לעומת 68.3% אשתקד.
רווח תפעולי :
הרווח התפעולי ברבעון הראשון של 2023 גדל ב,29%- ו הסתכם ב- 93.5 מיליון דולר בהשוואה ל- 72.4 מיליון דולר אשתקד . שיעור הרווח התפעולי ברבעון הראשון של 2023 הסתכם ב - 16.4% לעומת 13.7% אשתקד .
רווח נקי :
הרווח הנקי ברבעון הראשון של 2023 גדל ב ,33%- והסתכם ב76.9- מ יליון דולר לעומת 57.9 מיליון דולר אשתקד . שיעור הרווח הנקי ברבעון הראשון של 2023 הסתכם ב- 13.5% לעומת 11.0% אשתקד .
רווח למניה בדילול מלא:
הרווח למניה בדילול מלא ברבעון הראשון של 2023 גדל ב - 32% ל- 1.15 דולר לעומת 0.87 דולר אשתקד .
תזרים המזומנים מפעילות שוטפת ויתרת מזומנים: תזרים המזומנים מפעילות שוטפת ברבעון הראשון של 2023 היה 195.1 מיליון דולר . ברבעון הראשון של ,2023 64.7 מיליון דולר שימשו לרכישה עצמית של מניות. נכון ל31- במרץ ,2023 יתרות המזומנים ושווי המזומנים , וכן השקעות לטווח קצר הסתכמו ב - 1,684.8 מיליון דולר . החוב בנטרול מכשיר גידור היה 543.5 מיליון דולר כך שהמזומנים והשקעות נטו הסתכמו ל - 1,141.3 מיליון דולר.
עיקרי התוצאות הפיננסיות ) GAAP-Non )לרבעון הראשון שהסתיים ב- 31 במרץ :
הכנסות:
ההכנסות )GAAP-Non )ברבעון הראשון של 2023 גדלו ב- 8% ל- 571.9 מיליון דולר )וגדלו 9% בנטרול הפרשי מטבע ל- 576.0 מיליון דולר(, לעומת 527.4 מיליון דולר אשתקד.
רווח גולמי :
הרווח הגולמי )GAAP-Non )ברבעון הראשון של 2023 הסתכם ב - 409.9 מיליון דולר בהשוואה ל- 385.2 מיליון דולר אשתקד . שיעור הרווח הגולמי )GAAP-Non )ברבעון הראשון של 2023 הסתכם ב- 71.7% לעומת 73.0% אשתקד.
רווח תפעולי :
הרווח התפעולי )GAAP-Non )ברבעון הראשון של 2023 גדל ב,10%- והסתכם ב - 163.4 מיליון דולר בהשוואה ל - 149.0 מיליון דולר אשתקד. שיעור הרווח )GAAP-Non )התפעולי ברבעון הראשון של 2023 הסתכם ב - 28.6% לעומת 28.3% אשתקד.
רווח נקי :
הרווח הנקי )GAAP-Non )ברבעון הראשון של 2023 גדל ב,13%- והסתכם ב135.6- מ יליון דולר לעומת 120.5 מיליון דולר אשתקד. ש יעור הרווח הנקי ) GAAP-Non )ברבעון הראשון של 2023 הסתכם ב- 23.7% לעומת 22.8% אשתקד.
רווח למניה בדילול מלא:
הרווח )GAAP-Non )למניה בדילול מלא ברבעון הראשון של 2023 גדל ב - 13% ל- 2.03 דולר לעומת 1.80 דולר אשתקד .
תחזית לרבעון השני ול שנת :2023
הרבעון השני של :2023
סך ההכנסות )GAAP-Non )ברבעון השני של ,2023 צפוי להסתכם ב- 573 מיליון דולר עד 583 מיליון דולר , שמייצג גידול של 9% לפי נקודת האמצע של התחזית לעומת אשתקד.
הרווח )GAAP-Non )למניה בדילול מלא ברבעון השני של 2023 צפוי להיות בטווח של 2.00 דולר עד 2.10 דולר, שמייצג גידול של 10% לפי נקודת האמצע של התחזית לעומת אשתקד.
שנת :2023
החברה מעלה את תחזיתסך ההכנסות )GAAP-Non )לשנת 2023 שצפוי להסתכם ב - 2,350 מיליון דולר עד 2,370 מיליון דולר, שמייצג גידול של 8% לפי נקודת האמצע של התחזית לעומת אשתקד.
החברה מעלה את תחזית הרווח )GAAP-Non )למניה בדילול מלא לשנת 2023 שצפוי להיות בטווח של 8.32 דולר עד 8.52 דולר, שמייצג גידול של 11% לפי נקודת האמצע של התחזית לעומת אשתקד.
שיחת ועידה לדיון בתוצאות הרבעוניות
הנהלת נייס תארח שיחת ועידה לדיון בתוצאות הפיננסיות ובתחזית החברה היום, 11 במאי 2023 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 : 1-877-407-4018 או .+1-201-689-8471 מבריטניה 0-800-756-3429; מישראל : .1-809-406-247 השיחה תשודר באינטרנט בשידור חי באתר החברה בכתובת -upcoming/investors/company/com.nice.www://https .event
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 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.
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, the effect of unexpected events or geo-political conditions, such as the COVID-19 pandemic, that may disrupt our business and the global economyand various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC").
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.
לפרטים נוספים ניתן ליצור קשר עם: יעל ארנון, שרף תקשורת ,052-720-2703 com.scherfcom@yaela