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NICE Actimize, a business under NICE (NASDAQ: NICE), has been named the winner in the 'Suitability' product category by the 2024 WealthBriefing European Awards. This marks the third consecutive year NICE Actimize has received this award. The recognition highlights the firm's AI-powered SURVEIL-X Suitability solution, which leverages behavioral analytics to address evolving regulatory requirements and consumer protection needs. The solution offers easy onboarding, managed services, and robust security protections. According to Chris Wooten, EVP Vertical Markets at NICE, the solution helps automate oversight and supervision, reducing risk exposure and enhancing client-advisor relationships. Additional benefits include increased efficiency, transparency, and risk mitigation.
NICE (NASDAQ: NICE) reported a 27% year-over-year growth in cloud revenue for Q1 2024, reaching $468.4 million.
Total revenues increased by 15% to $659.3 million.
GAAP operating income rose by 30% to $121.4 million, while Non-GAAP operating income increased by 22% to $199.8 million.
Net income grew by 38% to $106.4 million (GAAP) and by 26% to $171.6 million (Non-GAAP).
Non-GAAP EPS exceeded guidance, increasing by 27% to $2.58. Operating cash flow hit a record high of $254.5 million, up 30% year-over-year.
The company anticipates 14% growth in Non-GAAP Q2 2024 revenues and 21% growth in Non-GAAP EPS.
Full-year 2024 guidance projects 15% revenue growth and a 21% rise in Non-GAAP EPS.
Barak Eilam, CEO of NICE, will step down by December 31, 2024, after over a decade at the helm. The company has initiated a search for his successor and will consider both internal and external candidates. Eilam will remain as a strategic consultant during the first half of 2025 to ensure a smooth transition. Under his leadership, NICE has significantly grown, tripling its total revenue and expanding its cloud revenue to $1.6 billion. The Board praised Eilam's contributions, highlighting the company's strong positioning in the cloud, digital, and AI markets.
NICE announced Interactions 2024, the industry’s largest CX event, to be held in June at the Fontainebleau Hotel in Las Vegas. The event will showcase innovations in CX AI, Digital, Cloud, and WEM, featuring over 50 product demos and a keynote address by Nicole Kidman. CX leaders will demonstrate the transformative power of AI in driving proactive, knowledge-rich CX experiences using NICE's solutions.
NICE has been recognized as the Conversational Intelligence market leader by Opus Research, scoring high in Business Impact and Technology/Product Breadth. The company's Enlighten platform was praised for its use of AI in customer experience, leading to improved metrics and cost reduction.
NICE (Nasdaq: NICE) will report its first quarter 2024 results on May 16, 2024, before NASDAQ's opening. A conference call will follow to discuss the findings.
NICE Actimize, a NICE business, has been recognized as a Category Leader in the 2024 CLM Solutions for Corporate and Investment Banking Market Update and Vendor Landscape Report by Chartis Research. The company scored highly in entity management, workflow, and automation, as well as system interfaces and APIs. NICE Actimize's dynamic CLM solution aims to reduce onboarding processes for financial institutions, leading to faster time to revenue and improved customer experiences.
NICE Inform Elite has been implemented by the City of Cincinnati Emergency Communications Center (ECC) to digitally transform and automate processes, improving operations and quality assurance. The ECC serves the Cincinnati metro area, handling a significant volume of emergency and non-emergency calls annually. NICE Inform Elite provides a single solution for data capture and analysis, offering real-time dashboards for performance metrics reporting and call handling insights. This implementation aims to enhance emergency response efficiency and service quality.
NICE Actimize, a business of NICE (NASDAQ: NICE), has been recognized as the top AML solutions vendor by Quadrant Knowledge Solutions in its 2024 SPARK Matrix Anti-Money Laundering Solution report. The report praises NICE Actimize's advanced Machine Learning capabilities and cloud-native X-Sight Entity Risk Solution, highlighting its ability to enhance customer risk assessment and financial crime risk management.
NICE Actimize, a business of NICE (NASDAQ: NICE), has been ranked #1 in the Chartis Research Financial Crime and Compliance50 Report. The company received awards for its expertise in Anti-Money Laundering (AML)/Transaction Monitoring (TM) and Case Management, as well as a market-specific award for Global Banking. NICE Actimize's innovative financial crime solutions, infused with AI and machine learning capabilities, have garnered recognition for their efficacy and accuracy in combating financial crime threats.
