NICE Reports 24% Year-Over-Year Cloud Revenue Growth, Exceeding High End of Guidance for Both Total Revenue and EPS

Rhea-AI Summary

NICE reported strong Q3 2024 results with total revenue reaching $690.0 million, up 15% year-over-year. Cloud revenue grew 24% to $500.1 million, with Cloud ARR exceeding $2 billion. The company demonstrated robust profitability with non-GAAP operating margin reaching a record 32%, and non-GAAP EPS increasing 27% to $2.88. Operating cash flow grew 32% to $159 million. NICE maintained its full-year 2024 revenue guidance of $2,715-2,735 million and raised EPS guidance to $10.95-11.15, representing 26% growth at midpoint compared to 2023.

Positive

• Total revenue increased 15% YoY to $690.0 million
• Cloud revenue grew 24% YoY to $500.1 million
• Cloud ARR exceeded $2 billion
• Non-GAAP operating margin improved to record 32.0% from 30.6%
• Non-GAAP EPS increased 27% to $2.88
• Operating cash flow grew 32% to $159.0 million
• Net cash position of $1,068.3 million

Negative

• GAAP gross margin declined to 66.7% from 68.2% YoY
• Non-GAAP gross margin decreased to 71.1% from 72.2% YoY

Insights

Financial Analyst

NICE delivered an exceptional Q3 with robust financial metrics across the board. Total revenue grew 15% to $690.0 million, while cloud revenue surged 24% to $500.1 million. The standout achievement is the record non-GAAP operating margin of 32%, up 140 basis points year-over-year.

Key performance indicators show strong business momentum:

• Cloud ARR exceeded $2 billion
• Operating cash flow increased 32% to $159 million
• Non-GAAP EPS grew 27% to $2.88

The company's raised EPS guidance and strong cash position of $1.07 billion net cash demonstrates financial strength and operational efficiency. The continued share repurchases ($86.4 million in Q3) signal management's confidence in future growth.

Tech Industry Analyst

NICE's accelerating growth in AI-powered solutions marks a significant competitive advantage. The strong adoption of CXone AI offerings, including Copilot, Autopilot and Autosummary, indicates successful market penetration in the enterprise AI space. The displacement of legacy on-premises and cloud customer service providers suggests a structural shift in the industry toward NICE's integrated AI solutions.

The 24% cloud revenue growth and expanding margins demonstrate successful execution of the cloud transformation strategy. The company's ability to maintain high growth while improving profitability sets it apart in the enterprise software sector, particularly as AI adoption accelerates in customer experience management.

• Total revenue growth of 15% year over year
• Cloud ARR exceeds $2 billion
• Company reiterates full-year total revenue guidance and raises EPS guidance
• Record high operating margin driving operating cash flow of $159 million

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE (NASDAQ: NICE) today announced results for the third quarter ended September 30, 2024, as compared to the corresponding period of the previous year.

Third Quarter 2024 Financial Highlights

GAAP	Non-GAAP
Total revenue was $690.0 million and increased 15%	Total revenue was $690.0 million and increased 15%
Cloud revenue was $500.1 million and increased 24%	Cloud revenue was $500.1 million and increased 24%
Operating income was $141.4 million and increased 24%	Operating income was $220.8 million and increased 20%
Operating margin was 20.5% compared to 18.9% last year	Operating margin was 32.0% compared to 30.6% last year
Diluted EPS was $1.86 and increased 34%	Diluted EPS was $2.88 and increased 27%
Operating cash flow was $159.0 million and increased 32%

“We are pleased to report another stellar quarter in which our financial performance and continued innovation are redefining our competitive edge, propelling us far ahead of the industry and solidifying NICE as the go-to partner for enterprises across the globe,” said Barak Eilam, CEO of NICE. “Total revenue of $690 million increased 15% compared to the same period last year, and robust profitability, marked by a 140-basis point increase in non-GAAP operating margin to a record 32%, an impressive 27% leap in non-GAAP EPS to $2.88, and another exceptional quarter of operating cash flow of $159 million, are setting new industry benchmarks.”

Mr. Eilam continued, “We owe these great results to the power of our cutting-edge AI innovation, where we delivered an outstanding quarter and an acceleration in deal signings and bookings for our CXone AI offerings, including Copilot, Autopilot and Autosummary. Our strength in AI-powered automated customer service and our market leading CXone platform, are reshaping the industry landscape as we continue to displace multiple on-premises and cloud customer service solution providers.”

GAAP Financial Highlights for the Third Quarter Ended September 30:

Revenues: Third quarter 2024 total revenues increased 15% to $690.0 million compared to $601.3 million for the third quarter of 2023.

Gross Profit: Third quarter 2024 gross profit was $460.3 million compared to $410.4 million for the third quarter of 2023. Third quarter 2024 gross margin was 66.7% compared to 68.2% for the third quarter of 2023.

Operating Income: Third quarter 2024 operating income increased 24% to $141.4 million compared to $113.6 million for the third quarter of 2023. Third quarter 2024 operating margin was 20.5% compared to 18.9% for the third quarter of 2023.

Net Income: Third quarter 2024 net income increased 31% to $120.9 million compared to $92.4 million for the third quarter of 2023. Third quarter 2024 net income margin was 17.5% compared to 15.4% for the third quarter of 2023.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the third quarter of 2024 increased 34% to $1.86 compared to $1.39 in the third quarter of 2023.

Cash Flow and Cash Balance: Third quarter 2024 operating cash flow was $159.0 million. In the third quarter 2024, $86.4 million was used for share repurchases. As of September 30, 2024, total cash and cash equivalents, and short-term investments were $1,526.7 million. Our debt was $458.4 million, resulting in net cash and investments of $1,068.3 million.

Non-GAAP Financial Highlights for the Third Quarter Ended September 30:

Revenues: Third quarter 2024 total revenues increased 15% to $690.0 million compared to $601.3 million for the third quarter of 2023.

Gross Profit: Third quarter 2024 gross profit was $490.3 million compared to $434.4 million for the third quarter of 2023. Third quarter 2024 gross margin was 71.1% compared to 72.2% for the third quarter of 2023.

Operating Income: Third quarter 2024 operating income increased 20% to $220.8 million compared to $183.9 million for the third quarter of 2023. Third quarter 2024 operating margin was 32.0% compared to 30.6% for the third quarter of 2023.

Net Income: Third quarter 2024 net income increased 24% to $186.9 million compared to $150.6 million for the third quarter of 2023. Third quarter 2024 net income margin was 27.1% compared to 25.0% for the third quarter of 2023.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the third quarter of 2024 increased 27% to $2.88 compared to $2.27 in the third quarter of 2023.

Full-Year 2024 Guidance:

The Company is reiterating its full-year 2024 non-GAAP total revenues to be in an expected range of $2,715 million to $2,735 million, representing 15% growth at the midpoint compared to full-year 2023.

The Company increased full-year 2024 non-GAAP fully diluted earnings per share which are expected to be in a range of $10.95 to $11.15, representing 26% growth at the midpoint compared to full-year 2023.

Quarterly Results Conference Call

NICE management will host its earnings conference call today, November 14, 2024, at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. A live webcast and replay will be available on the Investor Relations page of the Company’s website. To access, please register by clicking here: 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 and other 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.

About NICE
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com

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, performance, future plans and strategies, projections, anticipated events and trends, the economic environment, 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 uncertainties, contingencies, and risks, including, economic, competitive and other factors, which are difficult to predict and 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 impact of conflicts in the Middle East, 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.

NICE LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
			September 30,			December 31,
			2024			2023
			Unaudited			Audited
	ASSETS
CURRENT ASSETS:
	Cash and cash equivalents		$	666,734		$	511,795
	Short-term investments			859,955			896,044
	Trade receivables			629,850			585,154
	Debt hedge option			-			121,922
	Prepaid expenses and other current assets			213,560			197,967
	Total current assets			2,370,099			2,312,882
LONG-TERM ASSETS:
	Property and equipment, net			187,447			174,414
	Deferred tax assets			222,268			178,971
	Other intangible assets, net			246,037			305,501
	Operating lease right-of-use assets			96,743			104,565
	Goodwill			1,853,115			1,821,969
	Prepaid expenses and other long-term assets			212,904			219,332
	Total long-term assets			2,818,514			2,804,752
TOTAL ASSETS			$	5,188,613		$	5,117,634
	LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
	Trade payables		$	71,349		$	66,036
	Deferred revenues and advances from customers			333,968			302,649
	Current maturities of operating leases			13,065			13,747
	Debt			458,360			209,229
	Accrued expenses and other liabilities			548,048			528,660
	Total current liabilities			1,424,790			1,120,321
LONG-TERM LIABILITIES:
	Deferred revenues and advances from customers			55,223			52,458
	Operating leases			95,206			102,909
	Deferred tax liabilities			9,887			8,596
	Debt			-			457,081
	Other long-term liabilities			23,261			21,769
	Total long-term liabilities			183,577			642,813
SHAREHOLDERS' EQUITY
	Nice Ltd's equity			3,567,727			3,341,132
	Non-controlling interests			12,519			13,368
	Total shareholders' equity			3,580,246			3,354,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			$	5,188,613		$	5,117,634

NICE LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
		Quarter ended						Year to date
		September 30,						September 30,
		2024			2023			2024			2023
		Unaudited			Unaudited			Unaudited			Unaudited
Revenue:
	Cloud	$	500,114		$	403,324		$	1,450,213		$	1,152,839
	Services		149,857			160,220			446,381			479,022
	Product		39,992			37,800			117,078			122,455
Total revenue			689,963			601,344			2,013,672			1,754,316
Cost of revenue:
	Cloud		178,923			140,564			519,603			407,144
	Services		44,652			45,292			137,401			140,216
	Product		6,111			5,130			20,134			19,935
Total cost of revenue			229,686			190,986			677,138			567,295
Gross profit			460,277			410,358			1,336,534			1,187,021
Operating expenses:
	Research and development, net		91,500			84,848			265,854			241,589
	Selling and marketing		152,778			144,171			465,438			444,614
	General and administrative		74,620			67,713			213,600			188,256
Total operating expenses			318,898			296,732			944,892			874,459
Operating income			141,379			113,626			391,642			312,562
Financial and other income, net			(12,280)			(7,037)			(41,934)			(25,108)
Income before tax			153,659			120,663			433,576			337,670
Taxes on income			32,738			28,310			90,497			81,021
Net income		$	120,921		$	92,353		$	343,079		$	256,649
Earnings per share:
	Basic	$	1.91		$	1.46		$	5.41		$	4.03
	Diluted	$	1.86		$	1.39		$	5.22		$	3.86
Weighted average shares outstanding:
	Basic		63,397			63,422			63,403			63,693
	Diluted		64,838			66,223			65,741			66,438

NICE LTD. AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
			Quarter ended						Year to date
			September 30,						September 30,
			2024			2023			2024			2023
			Unaudited			Unaudited			Unaudited			Unaudited
Operating Activities
Net income			$	120,921		$	92,353		$	343,079		$	256,649
Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation and amortization			52,964			42,269			156,244			126,148
	Share-based compensation			47,252			46,213			133,882			130,488
	Amortization of premium and discount and accrued interest on marketable securities			(3,398)			998			(6,726)			2,044
	Deferred taxes, net			(27,542)			(13,915)			(38,949)			(30,787)
	Changes in operating assets and liabilities:
		Trade Receivables, net		(41,462)			(25,807)			(40,032)			(17,720)
		Prepaid expenses and other current assets		17,164			(315)			27,665			(22,361)
		Operating lease right-of-use assets		3,273			3,182			9,926			8,685
		Trade payables		(2,293)			11,632			4,646			784
		Accrued expenses and other current liabilities		22,149			20,835			(21,555)			(28,691)
		Deferred revenue		(28,094)			(54,485)			22,187			(39,662)
		Operating lease liabilities		(2,748)			(4,140)			(10,524)			(11,541)
	Amortization of discount on long-term debt			430			1,166			1,404			3,449
	Loss from extinguishment of debt			-			-			-			37
	Other			345			624			1,872			3,412
		Net cash provided by operating activities		158,961			120,610			583,119			380,934
Investing Activities
	Purchase of property and equipment			(10,419)			(5,507)			(27,395)			(23,126)
	Purchase of Investments			(138,219)			(9,284)			(575,332)			(200,643)
	Proceeds from sales of marketable investments			60,125			134,486			628,246			307,038
	Capitalization of internal use software costs			(16,812)			(12,479)			(47,986)			(41,106)
	Payments for business acquisitions, net of cash acquired			(44,507)			(18,405)			(44,507)			(18,405)
		Net cash provided by (used in) investing activities		(149,832)			88,811			(66,974)			23,758
Financing Activities
	Proceeds from issuance of shares upon exercise of options			28			43			2,340			1,767
	Purchase of treasury shares			(86,437)			(89,506)			(274,040)			(219,417)
	Dividends paid to noncontrolling interest			-			-			(2,681)			(1,480)
	Repayment of debt			-			(23)			(87,435)			(1,557)
		Net cash used in financing activities		(86,409)			(89,486)			(361,816)			(220,687)
Effect of exchange rates on cash and cash equivalents				4,508			(2,824)			1,260			(1,111)
Net change in cash, cash equivalents and restricted cash				(72,772)			117,111			155,589			182,894
Cash, cash equivalents and restricted cash, beginning of period			$	741,675		$	598,879		$	513,314		$	533,096
Cash, cash equivalents and restricted cash, end of period			$	668,903		$	715,990		$	668,903		$	715,990
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet:
	Cash and cash equivalents		$	666,734		$	713,090		$	666,734		$	713,090
	Restricted cash included in other current assets		$	2,169		$	2,900		$	2,169		$	2,900
	Total cash, cash equivalents and restricted cash shown in the statement of cash flows		$	668,903		$	715,990		$	668,903		$	715,990

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)
		Quarter ended						Year to date
		September 30,						September 30,
		2024			2023			2024			2023
GAAP revenues		$	689,963		$	601,344		$	2,013,672		$	1,754,316
Non-GAAP revenues		$	689,963		$	601,344		$	2,013,672		$	1,754,316
GAAP cost of revenue		$	229,686		$	190,986		$	677,138		$	567,295
Amortization of acquired intangible assets on cost of cloud			(24,278)			(18,967)			(73,778)			(57,732)
Amortization of acquired intangible assets on cost of product			-			(260)			(410)			(766)
Cost of cloud revenue adjustment (1,2)			(3,175)			(2,160)			(9,029)			(6,360)
Cost of services revenue adjustment (1)			(2,511)			(3,016)			(7,506)			(8,764)
Cost of product revenue adjustment (1)			(30)			384			(90)			106
Non-GAAP cost of revenue		$	199,692		$	166,967		$	586,325		$	493,779
GAAP gross profit		$	460,277		$	410,358		$	1,336,534		$	1,187,021
Gross profit adjustments			29,994			24,019			90,813			73,516
Non-GAAP gross profit		$	490,271		$	434,377		$	1,427,347		$	1,260,537
GAAP operating expenses		$	318,898		$	296,732		$	944,892		$	874,459
Research and development (1,2)			(6,734)			(8,224)			(22,361)			(24,405)
Sales and marketing (1,2)			(14,944)			(12,376)			(42,326)			(36,533)
General and administrative (1,2)			(22,154)			(22,348)			(59,414)			(57,703)
Amortization of acquired intangible assets			(5,613)			(3,308)			(15,824)			(12,251)
Valuation adjustment on acquired deferred commission			1			30			24			106
Non-GAAP operating expenses		$	269,454		$	250,506		$	804,991		$	743,673
GAAP financial and other income, net		$	(12,280)		$	(7,037)		$	(41,934)		$	(25,108)
Amortization of discount and loss of extinguishment on debt			(430)			(1,166)			(1,404)			(3,486)
Change in fair value of contingent consideration			(36)			(239)			(115)			(817)
Non-GAAP financial and other income, net		$	(12,746)		$	(8,442)		$	(43,453)		$	(29,411)
GAAP taxes on income		$	32,738		$	28,310		$	90,497		$	81,021
Tax adjustments re non-GAAP adjustments			13,886			13,372			42,665			37,473
Non-GAAP taxes on income		$	46,624		$	41,682		$	133,162		$	118,494
GAAP net income		$	120,921		$	92,353		$	343,079		$	256,649
Amortization of acquired intangible assets			29,891			22,535			90,012			70,749
Valuation adjustment on acquired deferred commission			(1)			(30)			(24)			(106)
Share-based compensation (1)			48,731			47,287			137,997			133,206
Acquisition related and other expenses (2)			817			453			2,729			453
Amortization of discount and loss of extinguishment on debt			430			1,166			1,404			3,486
Change in fair value of contingent consideration			36			239			115			817
Tax adjustments re non-GAAP adjustments			(13,886)			(13,372)			(42,665)			(37,473)
Non-GAAP net income		$	186,939		$	150,631		$	532,647		$	427,781
GAAP diluted earnings per share		$	1.86		$	1.39		$	5.22		$	3.86
Non-GAAP diluted earnings per share		$	2.88		$	2.27		$	8.10		$	6.44
Shares used in computing GAAP diluted earnings per share			64,838			66,223			65,741			66,438
Shares used in computing non-GAAP diluted earnings per share			64,838			66,223			65,741			66,438

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands
(1)	Share-based compensation
		Quarter ended						Year to date
		September 30,						September 30,
		2024			2023			2024			2023
	Cost of cloud revenue	$	3,175		$	2,160		$	8,967		$	6,360
	Cost of services revenue		2,511			3,016			7,506			8,764
	Cost of product revenue		30			(384)			90			(106)
	Research and development		6,734			8,224			22,031			24,405
	Sales and marketing		14,937			12,351			41,676			36,508
	General and administrative		21,344			21,920			57,727			57,275
		$	48,731		$	47,287		$	137,997		$	133,206
(2)	Acquisition related and other expenses
		Quarter ended						Year to date
		September 30,						September 30,
		2024			2023			2024			2023
	Cost of cloud revenue	$	-		$	-		$	62		$	-
	Research and development		-			-			330			-
	Sales and marketing		7			25			650			25
	General and administrative		810			428			1,687			428
		$	817		$	453		$	2,729		$	453

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP EBITDA
U.S. dollars in thousands
		Quarter ended						Year to date
		September 30,						September 30,
		2024			2023			2024			2023
		Unaudited			Unaudited			Unaudited			Unaudited
GAAP net income		$	120,921		$	92,353		$	343,079		$	256,649
Non-GAAP adjustments:
	Depreciation and amortization		52,964			42,269			156,244			126,148
	Share-based compensation		47,252			46,213			133,882			130,488
	Financial and other income, net		(12,280)			(7,037)			(41,934)			(25,108)
	Acquisition related and other expenses		817			453			2,729			453
	Valuation adjustment on acquired deferred commission		(1)			(30)			(24)			(106)
	Taxes on income		32,738			28,310			90,497			81,021
Non-GAAP EBITDA		$	242,411		$	202,531		$	684,473		$	569,545

NICE LTD. AND SUBSIDIARIES
NON-GAAP RECONCILIATION - FREE CASH FLOW FROM CONTINUING OPERATIONS
U.S. dollars in thousands
	Quarter ended						Year to date
	September 30,						September 30,
	2024			2023			2024			2023
	Unaudited			Unaudited			Unaudited			Unaudited
Net cash provided by operating activities	$	158,961		$	120,610		$	583,119		$	380,934
Purchase of property and equipment		(10,419)			(5,507)			(27,395)			(23,126)
Capitalization of internal use software costs		(16,812)			(12,479)			(47,986)			(41,106)
Free Cash Flow (a)	$	131,730		$	102,624		$	507,738		$	316,702
(a) Free cash flow from continuing operations is defined as operating cash flows from continuing operations less capital expenditures of the continuing operations and less capitalization of internal use software costs.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241114018044/en/

Investor Relations Contact

Marty Cohen, +1 551 256 5354, ir@nice.com, ET

Omri Arens, +972 3 763-0127, ir@nice.com, CET

Corporate Media Contact

Christopher Irwin-Dudek, +1 201 561 4442, media@nice.com, ET

Source: NICE

FAQ

What was NICE's cloud revenue growth in Q3 2024?

NICE's cloud revenue grew 24% year-over-year to $500.1 million in Q3 2024.

What is NICE's full-year 2024 revenue guidance?

NICE reiterated its full-year 2024 non-GAAP total revenue guidance of $2,715-2,735 million, representing 15% growth at the midpoint compared to 2023.

How much was NICE's operating cash flow in Q3 2024?

NICE reported operating cash flow of $159.0 million in Q3 2024, representing a 32% increase year-over-year.

What was NICE's EPS guidance for full-year 2024?

NICE raised its full-year 2024 non-GAAP EPS guidance to $10.95-11.15, representing 26% growth at the midpoint compared to 2023.