NICE Reports 27% Year-Over-Year Cloud Revenue Growth for the First Quarter 2024
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.
- Cloud revenue increased by 27% to $468.4 million.
- Total revenue grew by 15% to $659.3 million.
- GAAP operating income rose by 30% to $121.4 million.
- Non-GAAP operating income increased by 22% to $199.8 million.
- GAAP net income grew by 38% to $106.4 million.
- Non-GAAP net income increased by 26% to $171.6 million.
- GAAP diluted EPS rose by 39% to $1.60.
- 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 repurchased $41.5 million in shares.
- Guidance for Q2 2024 indicates a 14% revenue growth and a 21% rise in Non-GAAP EPS.
- Full-year 2024 guidance projects 15% revenue growth and a 21% rise in Non-GAAP EPS.
- GAAP gross margin decreased from 67.4% to 66.2% year-over-year.
- Non-GAAP gross margin decreased from 71.7% to 70.9% year-over-year.
- Debt repayments amounted to $87.4 million.
Insights
NICE's financial results for the first quarter of 2024 indicate a strong performance, particularly with a
Operational efficiency is also notable. The
Investors should also keep an eye on NICE's
On the downside, the slight dip in gross margin from
From a market perspective, NICE's impressive cloud revenue growth of
The company's positioning as a market leader in cloud and digital convergence is likely to continue driving its competitive advantage. Investors should note NICE's high industry cloud win rate and the focus on leveraging customer experience (CX) through AI. These strategic moves could enhance customer retention and attract new clientele, contributing to sustainable long-term growth.
However, competition in the cloud sector is intense, with major players like AWS, Microsoft Azure and Google Cloud. NICE’s ability to consistently differentiate its offerings and maintain strong growth in this competitive environment will be critical.
-
Total revenue growth of
15% year over year - Double-digit growth in gross profit, operating income and net income
- Non-GAAP EPS exceeds high end of guidance range
-
Record high operating cash flow of
$254 million 30% year over year
First Quarter 2024 Financial Highlights
GAAP |
Non-GAAP |
Total revenue was |
Total revenue was |
Cloud revenue was
|
Cloud revenue was
|
Operating income was |
Operating income was |
Operating margin was |
Operating margin was |
Diluted EPS was |
Diluted EPS was |
Operating cash flow was |
|
“We are pleased to start the year with positive momentum, evidenced by a robust performance across the board, while continuing to outpace the industry,” said Barak Eilam, CEO, NICE. “Our total revenue growth of
Mr. Eilam continued, “Our continued strong performance over the past several years as well as the outstanding first quarter results are attributed to our unmatched platform strategy coupled with consistent execution. This is now further driving our market leadership with the ultimate trifecta: highest industry cloud win rate, trailblazing the digital market through convergence and fully leveraging the tremendous CX AI opportunity.”
GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2024 total revenues increased
Gross Profit: First quarter 2024 gross profit was
Operating Income: First quarter 2024 operating income increased
Net Income: First quarter 2024 net income increased
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the first quarter of 2024 increased
Cash Flow and Cash Balance: First quarter 2024 operating cash flow was
Non-GAAP Financial Highlights for the First Quarter Ended March 31:
Revenues: First quarter 2024 total revenues increased
Gross Profit: First quarter 2024 gross profit was
Operating Income: First quarter 2024 operating income increased
Net Income: First quarter 2024 net income increased
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the first quarter of 2024 increased
Second Quarter and Full Year 2024 Guidance:
Second-Quarter 2024:
Second-quarter 2024 Non-GAAP total revenues are expected to be in a range of
Second-quarter 2024 Non-GAAP fully diluted earnings per share are expected to be in a range of
Full-Year 2024:
Full-year 2024 Non-GAAP total revenues are expected to be in a range of
The Company increased full year 2024 Non-GAAP fully diluted earnings per share which are expected to be in a range of
Quarterly Results Conference Call
NICE management will host its earnings conference call today May 16, 2024, at 8:30 AM ET, 13:30 GMT, 15:30
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 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, 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 impact of conflicts in the
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 |
|||||
|
|||||
March 31, |
|
December 31, |
|||
2024 |
|
2023 |
|||
Unaudited |
|
Audited |
|||
| ASSETS | |||||
CURRENT ASSETS: |
|||||
| Cash and cash equivalents | $ |
793,078 |
$ |
511,795 |
|
| Short-term investments |
|
709,766 |
|
896,044 |
|
| Trade receivables |
|
574,987 |
|
585,154 |
|
| Debt hedge option |
|
- |
|
121,922 |
|
| Prepaid expenses and other current assets |
|
206,238 |
|
197,967 |
|
|
|
||||
| Total current assets |
|
2,284,069 |
|
2,312,882 |
|
LONG-TERM ASSETS: |
|||||
| Property and equipment, net |
|
181,136 |
|
174,414 |
|
| Deferred tax assets |
|
174,755 |
|
178,971 |
|
| Other intangible assets, net |
|
274,541 |
|
305,501 |
|
| Operating lease right-of-use assets |
|
101,577 |
|
104,565 |
|
| Goodwill |
|
1,820,469 |
|
1,821,969 |
|
| Prepaid expenses and other long-term assets |
|
210,031 |
|
219,332 |
|
|
|
||||
| Total long-term assets |
|
2,762,509 |
|
2,804,752 |
|
TOTAL ASSETS |
$ |
5,046,578 |
$ |
5,117,634 |
|
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
CURRENT LIABILITIES: |
|||||
| Trade payables | $ |
55,238 |
$ |
66,036 |
|
| Deferred revenues and advances from customers |
|
340,366 |
|
302,649 |
|
| Current maturities of operating leases |
|
13,324 |
|
13,747 |
|
| Debt |
|
- |
|
209,229 |
|
| Accrued expenses and other liabilities |
|
532,451 |
|
528,660 |
|
| Total current liabilities |
|
941,379 |
|
1,120,321 |
|
LONG-TERM LIABILITIES: |
|||||
| Deferred revenues and advances from customers |
|
58,907 |
|
52,458 |
|
| Operating leases |
|
99,818 |
|
102,909 |
|
| Deferred tax liabilities |
|
8,489 |
|
8,596 |
|
| Debt |
|
457,505 |
|
457,081 |
|
| Other long-term liabilities |
|
22,179 |
|
21,769 |
|
| Total long-term liabilities |
|
646,898 |
|
642,813 |
|
SHAREHOLDERS' EQUITY |
|||||
| Nice Ltd's equity |
|
3,447,085 |
|
3,341,132 |
|
| Non-controlling interests |
|
11,216 |
|
13,368 |
|
| Total shareholders' equity |
|
3,458,301 |
|
3,354,500 |
|
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ |
5,046,578 |
$ |
5,117,634 |
|
NICE LTD. AND SUBSIDIARIES |
|||||||
CONSOLIDATED STATEMENTS OF INCOME |
|||||||
|
|||||||
Quarter ended |
|||||||
March 31, |
|||||||
2024 |
|
2023 |
|||||
Unaudited |
|
Unaudited |
|||||
Revenue: |
|||||||
| Cloud | $ |
468,406 |
|
$ |
367,567 |
|
|
| Services |
|
148,913 |
|
|
159,858 |
|
|
| Product |
|
41,990 |
|
|
44,435 |
|
|
Total revenue |
|
659,309 |
|
|
571,860 |
|
|
Cost of revenue: |
|||||||
| Cloud |
|
169,978 |
|
|
131,596 |
|
|
| Services |
|
46,086 |
|
|
47,905 |
|
|
| Product |
|
6,605 |
|
|
7,095 |
|
|
Total cost of revenue |
|
222,669 |
|
|
186,596 |
|
|
Gross profit |
|
436,640 |
|
|
385,264 |
|
|
Operating expenses: |
|||||||
| Research and development, net |
|
87,832 |
|
|
78,102 |
|
|
| Selling and marketing |
|
155,015 |
|
|
148,479 |
|
|
| General and administrative |
|
72,354 |
|
|
65,176 |
|
|
Total operating expenses |
|
315,201 |
|
|
291,757 |
|
|
Operating income |
|
121,439 |
|
|
93,507 |
|
|
Financial and other income, net |
|
(14,009 |
) |
|
(8,721 |
) |
|
Income before tax |
|
135,448 |
|
|
102,228 |
|
|
Taxes on income |
|
29,075 |
|
|
25,286 |
|
|
Net income |
$ |
106,373 |
|
$ |
76,942 |
|
|
Earnings per share: |
|||||||
| Basic | $ |
1.68 |
|
$ |
1.20 |
|
|
| Diluted | $ |
1.60 |
|
$ |
1.15 |
|
|
Weighted average shares outstanding: |
|||||||
| Basic |
|
63,278 |
|
|
63,941 |
|
|
| Diluted |
|
66,528 |
|
|
66,662 |
|
|
NICE LTD. AND SUBSIDIARIES |
|||||||
CONSOLIDATED CASH FLOW STATEMENTS |
|||||||
|
|||||||
Quarter ended |
|||||||
March 31, |
|||||||
2024 |
|
2023 |
|||||
Unaudited |
|
Unaudited |
|||||
Operating Activities |
|||||||
Net income |
$ |
106,373 |
|
$ |
76,942 |
|
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||||
| Depreciation and amortization |
|
51,760 |
|
|
41,846 |
|
|
| Share-based compensation |
|
44,404 |
|
|
44,961 |
|
|
| Amortization of premium and discount and accrued interest on marketable securities |
|
(1,232 |
) |
|
1,270 |
|
|
| Deferred taxes, net |
|
4,366 |
|
|
(7,878 |
) |
|
| Changes in operating assets and liabilities: | |||||||
| Trade Receivables, net |
|
8,137 |
|
|
16,752 |
|
|
| Prepaid expenses and other current assets |
|
8,761 |
|
|
(11,372 |
) |
|
| Operating lease right-of-use assets |
|
3,281 |
|
|
3,068 |
|
|
| Trade payables |
|
(10,763 |
) |
|
(1,180 |
) |
|
| Accrued expenses and other current liabilities |
|
(2,868 |
) |
|
(694 |
) |
|
| Deferred revenue |
|
45,539 |
|
|
33,247 |
|
|
| Operating lease liabilities |
|
(3,800 |
) |
|
(3,907 |
) |
|
| Amortization of discount on long-term debt |
|
549 |
|
|
1,154 |
|
|
| Other |
|
(17 |
) |
|
862 |
|
|
| Net cash provided by operating activities |
|
254,490 |
|
|
195,071 |
|
|
Investing Activities |
|||||||
| Purchase of property and equipment |
|
(10,521 |
) |
|
(13,106 |
) |
|
| Purchase of Investments |
|
(331,122 |
) |
|
(69,542 |
) |
|
| Proceeds from sales of marketable investments |
|
516,150 |
|
|
64,899 |
|
|
| Capitalization of internal use software costs |
|
(15,936 |
) |
|
(14,136 |
) |
|
| Net cash provided by (used in) investing activities |
|
158,571 |
|
|
(31,885 |
) |
|
Financing Activities |
|||||||
| Proceeds from issuance of shares upon exercise of options |
|
1,792 |
|
|
959 |
|
|
| Purchase of treasury shares |
|
(41,515 |
) |
|
(64,715 |
) |
|
| Dividends paid to noncontrolling interest |
|
(2,681 |
) |
|
(1,480 |
) |
|
| Repayment of debt |
|
(87,435 |
) |
|
- |
|
|
| Net cash used in financing activities |
|
(129,839 |
) |
|
(65,236 |
) |
|
Effect of exchange rates on cash and cash equivalents |
|
(1,939 |
) |
|
1,167 |
|
|
Net change in cash, cash equivalents and restricted cash |
|
281,283 |
|
|
99,117 |
|
|
Cash, cash equivalents and restricted cash, beginning of period |
$ |
513,314 |
|
$ |
533,095 |
|
|
Cash, cash equivalents and restricted cash, end of period |
$ |
794,597 |
|
$ |
632,212 |
|
|
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheet: |
|||||||
| Cash and cash equivalents | $ |
793,078 |
|
$ |
630,661 |
|
|
| Restricted cash included in other current assets | $ |
1,519 |
|
$ |
1,551 |
|
|
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $ |
794,597 |
|
$ |
632,212 |
||
NICE LTD. AND SUBSIDIARIES |
|||||||
RECONCILIATION OF GAAP TO NON-GAAP RESULTS |
|||||||
|
|||||||
Quarter ended |
|||||||
March 31, |
|||||||
2024 |
|
2023 |
|||||
GAAP revenues |
$ |
659,309 |
|
$ |
571,860 |
|
|
Non-GAAP revenues |
$ |
659,309 |
|
$ |
571,860 |
|
|
GAAP cost of revenue |
$ |
222,669 |
|
$ |
186,596 |
|
|
Amortization of acquired intangible assets on cost of cloud |
|
(25,367 |
) |
|
(19,369 |
) |
|
Amortization of acquired intangible assets on cost of product |
|
(260 |
) |
|
(249 |
) |
|
Cost of cloud revenue adjustment (1,2) |
|
(3,002 |
) |
|
(1,947 |
) |
|
Cost of services revenue adjustment (1) |
|
(2,378 |
) |
|
(2,885 |
) |
|
Cost of product revenue adjustment (1) |
|
(30 |
) |
|
(138 |
) |
|
Non-GAAP cost of revenue |
$ |
191,632 |
|
$ |
162,008 |
|
|
GAAP gross profit |
$ |
436,640 |
|
$ |
385,264 |
|
|
Gross profit adjustments |
|
31,037 |
|
|
24,588 |
|
|
Non-GAAP gross profit |
$ |
467,677 |
|
$ |
409,852 |
|
|
GAAP operating expenses |
$ |
315,201 |
|
$ |
291,757 |
|
|
Research and development (1,2) |
|
(8,143 |
) |
|
(8,398 |
) |
|
Sales and marketing (1,2) |
|
(14,172 |
) |
|
(11,102 |
) |
|
General and administrative (1,2) |
|
(19,831 |
) |
|
(21,296 |
) |
|
Amortization of acquired intangible assets |
|
(5,239 |
) |
|
(4,515 |
) |
|
Valuation adjustment on acquired deferred commission |
|
15 |
|
|
40 |
|
|
Non-GAAP operating expenses |
$ |
267,831 |
|
$ |
246,486 |
|
|
GAAP financial and other income, net |
$ |
(14,009 |
) |
$ |
(8,721 |
) |
|
Amortization of discount and loss of extinguishment on debt |
|
(549 |
) |
|
(1,154 |
) |
|
Change in fair value of contingent consideration |
|
(44 |
) |
|
- |
|
|
Non-GAAP financial and other income, net |
|
(14,602 |
) |
|
(9,875 |
) |
|
GAAP taxes on income |
$ |
29,075 |
|
$ |
25,286 |
|
|
Tax adjustments re non-GAAP adjustments |
|
13,816 |
|
|
12,308 |
|
|
Non-GAAP taxes on income |
$ |
42,891 |
|
$ |
37,594 |
|
|
GAAP net income |
$ |
106,373 |
|
$ |
76,942 |
|
|
Amortization of acquired intangible assets |
|
30,866 |
|
|
24,133 |
|
|
Valuation adjustment on acquired deferred commission |
|
(15 |
) |
|
(40 |
) |
|
Share-based compensation (1) |
|
45,644 |
|
|
45,766 |
|
|
Acquisition related and other expenses (2) |
|
1,912 |
|
|
- |
|
|
Amortization of discount and loss of extinguishment on debt |
|
549 |
|
|
1,154 |
|
|
Change in fair value of contingent consideration |
|
44 |
|
|
- |
|
|
Tax adjustments re non-GAAP adjustments |
|
(13,816 |
) |
|
(12,308 |
) |
|
Non-GAAP net income |
$ |
171,557 |
|
$ |
135,647 |
|
|
GAAP diluted earnings per share |
$ |
1.60 |
|
$ |
1.15 |
|
|
Non-GAAP diluted earnings per share |
$ |
2.58 |
|
$ |
2.03 |
|
|
Shares used in computing GAAP diluted earnings per share |
|
66,528 |
|
|
66,662 |
|
|
Shares used in computing non-GAAP diluted earnings per share |
|
66,528 |
|
|
66,662 |
|
|
NICE LTD. AND SUBSIDIARIES |
||||||
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued) |
||||||
|
||||||
(1) |
Share-based compensation |
|||||
Quarter ended |
||||||
March 31, |
||||||
2024 |
|
2023 |
||||
Cost of cloud revenue |
$ |
2,940 |
$ |
1,947 |
||
Cost of services revenue |
|
2,378 |
|
2,885 |
||
Cost of product revenue |
|
30 |
|
138 |
||
Research and development |
|
7,813 |
|
8,398 |
||
Sales and marketing |
|
13,529 |
|
11,102 |
||
General and administrative |
|
18,954 |
|
21,296 |
||
$ |
45,644 |
$ |
45,766 |
|||
(2) |
Acquisition related and other expenses |
|||||
Quarter ended |
||||||
March 31, |
||||||
|
2024 |
|
2023 |
|||
Cost of cloud revenue |
$ |
62 |
$ |
- |
||
Research and development |
|
330 |
|
- |
||
Sales and marketing |
|
643 |
|
- |
||
General and administrative |
|
877 |
|
- |
||
$ |
1,912 |
$ |
- |
|||
NICE LTD. AND SUBSIDIARIES |
|||||||
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP EBITDA |
|||||||
|
|||||||
Quarter ended |
|||||||
March 31, |
|||||||
2024 |
|
2023 |
|||||
Unaudited |
|
Unaudited |
|||||
GAAP net income |
$ |
106,373 |
|
$ |
76,942 |
|
|
Non-GAAP adjustments: |
|||||||
| Depreciation and amortization |
|
51,760 |
|
|
41,846 |
|
|
| Share-based compensation |
|
44,404 |
|
|
44,961 |
|
|
| Financial and other expense/ (income), net |
|
(14,009 |
) |
|
(8,721 |
) |
|
| Acquisition related and other expenses |
|
1,912 |
|
|
- |
|
|
| Valuation adjustment on acquired deferred commission |
|
(15 |
) |
|
(40 |
) |
|
| Taxes on income |
|
29,075 |
|
|
25,286 |
|
|
Non-GAAP EBITDA |
$ |
219,500 |
|
$ |
180,274 |
|
|
NICE LTD. AND SUBSIDIARIES |
|||||||
NON-GAAP RECONCILIATION - FREE CASH FLOW FROM CONTINUING OPERATIONS |
|||||||
|
|||||||
Quarter ended |
|||||||
March 31, |
|||||||
2024 |
|
2023 |
|||||
Unaudited |
|
Unaudited |
|||||
Free cash flow (a) |
|||||||
Net cash provided by operating activities |
$ |
254,490 |
|
$ |
195,071 |
|
|
| Purchase of property and equipment |
|
(10,521 |
) |
|
(13,106 |
) |
|
| Capitalization of internal use software costs |
|
(15,936 |
) |
|
(14,136 |
) |
|
Free Cash Flow |
$ |
228,033 |
|
$ |
167,829 |
|
|
| (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/20240516094830/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
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