NICE Reports Accelerated Total Revenue Growth of 16% and Cloud Revenue Growth of 32% for the Second Quarter of 2021
NICE (NASDAQ: NICE) reported a strong second quarter for 2021, with total revenue at $456 million, marking a 16% year-over-year increase. Cloud revenue surged by 32% to $243 million, contributing to over 50% of total revenue. Gross margin improved to 67.0%. Operating income increased by 14% to $64 million, while net income decreased slightly to $44.4 million. The company raised its full-year revenue forecast to a range of $1.835 billion to $1.855 billion. The management expressed confidence in cloud growth and digital CX opportunities.
- Total revenue increased 16% year-over-year to $456 million.
- Cloud revenue grew 32% year-over-year to $243 million, now over 50% of total revenue.
- Gross margin improved to 67.0% from 65.5% last year.
- Operating income rose 14% to $64 million.
- Non-GAAP fully diluted EPS increased 14.6% to $1.57.
- Raised full-year guidance for non-GAAP revenue to $1.835-$1.855 billion.
- Net income fell slightly to $44.4 million from $44.6 million last year.
- Diluted EPS decreased by 1% to $0.67.
NICE (NASDAQ: NICE) today announced results for the second quarter ended June 30, 2021.
Second Quarter 2021 Financial Highlights
GAAP |
Non-GAAP |
|
Revenue of |
Revenue of |
|
Cloud revenue of |
Cloud revenue of |
|
Gross margin of |
Gross margin of |
|
Operating income of |
Operating income of |
|
Operating margin of |
Operating margin of |
|
Diluted EPS of |
Diluted EPS of |
|
Operating cash flow increased |
|
“We are very pleased with the accelerated top line growth of
Mr. Eilam continued, “While the cloudification of our market continues to speed up, the expansion to full digital CX represents an additional significant opportunity for NICE. With the investments we made in digital CX both organically and through acquisitions over the past 18 months, we have evolved CXone into a complete digital CX platform with a unique set of solutions that can now cover the entire customer journey across all customer touchpoints, including more than 35 digital channels. Digital transformation is still in the very early stages, and as the clear market leader, we believe we will achieve the same outstanding success in digital as we have in cloud.”
GAAP Financial Highlights for the Second Quarter Ended June 30:
Revenues: Second quarter 2021 total revenues increased
Gross Profit: Second quarter 2021 gross profit and gross margin increased to
Operating Income: Second quarter 2021 operating income increased
Net Income: Second quarter 2021 net income totaled
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the Second quarter of 2021 decreased to
Operating Cash Flow and Cash Balance: Second quarter 2021 operating cash flow was
Non-GAAP Financial Highlights for the Second Quarter Ended June 30:
Revenues: Second quarter 2021 Non-GAAP total revenues increased
Gross Profit: Second quarter 2021 Non-GAAP gross profit and gross margin increased to
Operating Income: Second quarter 2021 Non-GAAP operating income increased
Net Income: Second quarter 2021 Non-GAAP net income increased
Fully Diluted Earnings Per Share: Second quarter 2021 Non-GAAP fully diluted earnings per share increased
Third Quarter and Full Year 2021 Guidance:
Third Quarter 2021:
Third quarter 2021 Non-GAAP total revenues are expected to be in a range of
Third quarter 2021 Non-GAAP fully diluted earnings per share are expected to be in a range of
Raising Full Year 2021 Guidance:
Full year 2021 Non-GAAP total revenues are expected to be in a range of
Full year 2021 Non-GAAP fully diluted earnings per share are expected to be in a range of
Quarterly Results Conference Call
NICE management will host its earnings conference call today August 5th, 2021 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 1-877-300-8521 or +1-412-317-6026, United Kingdom 0-800-279-9489, Israel 1-809-213-284.
The call will be webcast live on the Company’s website at https://www.nice.com/investor-relations/upcoming-event.
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. 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.
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, uncertainty related to COVID-19 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 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.
###
NICE LTD. AND SUBSIDIARIES |
|||||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||||||||||
U.S. dollars in thousands |
|||||||||||||
June 30, |
|
December 31, |
|||||||||||
|
2021 |
|
|
2020 |
|||||||||
Unaudited |
Audited |
||||||||||||
ASSETS |
|||||||||||||
CURRENT ASSETS: |
|||||||||||||
Cash and cash equivalents |
$ |
343,452 |
$ |
442,267 |
|||||||||
Short-term investments |
|
1,064,290 |
|
1,021,613 |
|||||||||
Trade receivables |
|
331,493 |
|
303,100 |
|||||||||
Prepaid expenses and other current assets |
|
169,642 |
|
175,340 |
|||||||||
Total current assets |
|
1,908,877 |
|
1,942,320 |
|||||||||
LONG-TERM ASSETS: |
|||||||||||||
Property and equipment, net |
|
143,014 |
|
137,785 |
|||||||||
Deferred tax assets |
|
35,133 |
|
32,735 |
|||||||||
Other intangible assets, net |
|
349,924 |
|
366,003 |
|||||||||
Operating lease right-of-use assets |
|
91,647 |
|
97,162 |
|||||||||
Goodwill |
|
1,595,613 |
|
1,503,252 |
|||||||||
Other long-term assets |
|
180,125 |
|
153,660 |
|||||||||
|
|
||||||||||||
Total long-term assets |
|
2,395,456 |
|
2,290,597 |
|||||||||
TOTAL ASSETS |
$ |
4,304,333 |
$ |
4,232,917 |
|||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|||||||||||||
CURRENT LIABILITIES: |
|||||||||||||
Trade payables |
$ |
40,850 |
$ |
33,132 |
|||||||||
Deferred revenues and advances from customers |
|
327,955 |
|
311,851 |
|||||||||
Current maturities of operating leases |
|
21,372 |
|
22,412 |
|||||||||
Debt |
|
187,866 |
|
259,881 |
|||||||||
Accrued expenses and other liabilities |
|
409,992 |
|
417,174 |
|||||||||
Total current liabilities |
|
988,035 |
|
1,044,450 |
|||||||||
LONG-TERM LIABILITIES: |
|||||||||||||
Deferred revenues and advances from customers |
|
73,197 |
|
36,295 |
|||||||||
Operating leases |
|
86,389 |
|
92,262 |
|||||||||
Deferred tax liabilities |
|
18,396 |
|
32,109 |
|||||||||
Debt |
|
425,284 |
|
421,337 |
|||||||||
Other long-term liabilities |
|
17,514 |
|
17,980 |
|||||||||
Total long-term liabilities |
|
620,780 |
|
599,983 |
|||||||||
SHAREHOLDERS' EQUITY |
|||||||||||||
Nice Ltd's equity |
|
2,672,128 |
|
2,563,910 |
|||||||||
Non-controlling interests |
|
23,390 |
|
24,574 |
|||||||||
Total shareholders' equity |
|
2,695,518 |
|
2,588,484 |
|||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ |
4,304,333 |
$ |
4,232,917 |
|||||||||
|
|||||||||||||
NICE LTD. AND SUBSIDIARIES |
||||||||
CONSOLIDATED STATEMENTS OF INCOME |
||||||||
U.S. dollars in thousands (except per share amounts) |
Quarter ended |
|
Year to date |
||||||||||
June 30, |
|
June 30, |
||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
||
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
||||||
Revenue: |
||||||||||||
Cloud |
|
$ |
242,724 |
$ |
183,944 |
$ |
470,805 |
$ |
356,572 |
|||
Services |
|
|
167,133 |
|
170,979 |
|
328,924 |
|
344,171 |
|||
Product |
|
|
46,174 |
|
38,257 |
|
111,323 |
|
102,865 |
|||
Total revenue |
|
456,031 |
|
393,180 |
|
911,052 |
|
803,608 |
||||
Cost of revenue: |
||||||||||||
Cloud |
|
|
99,172 |
|
80,523 |
|
192,754 |
|
160,991 |
|||
Services |
|
|
46,882 |
|
50,037 |
|
95,816 |
|
103,550 |
|||
Product |
|
|
4,453 |
|
5,173 |
|
9,799 |
|
11,277 |
|||
Total cost of revenue |
|
150,507 |
|
135,733 |
|
298,369 |
|
275,818 |
||||
Gross profit |
|
305,524 |
|
257,447 |
|
612,683 |
|
527,790 |
||||
Operating expenses: |
||||||||||||
Research and development, net |
|
|
62,218 |
|
53,756 |
|
121,373 |
|
106,537 |
|||
Selling and marketing |
|
|
126,195 |
|
107,155 |
|
254,754 |
|
216,776 |
|||
General and administrative |
|
|
53,133 |
|
40,398 |
|
106,105 |
|
89,511 |
|||
Total operating expenses |
|
241,546 |
|
201,309 |
|
482,232 |
|
412,824 |
||||
Operating income |
|
63,978 |
|
56,138 |
|
130,451 |
|
114,966 |
||||
Financial and other expense/(income), net |
|
9,062 |
|
(423) |
|
12,456 |
|
1,227 |
||||
Income before tax |
|
54,916 |
|
56,561 |
|
117,995 |
|
113,739 |
||||
Taxes on income |
|
10,515 |
|
11,956 |
|
21,383 |
|
23,020 |
||||
Net income |
$ |
44,401 |
$ |
44,605 |
$ |
96,612 |
$ |
90,719 |
||||
Less: net loss attributable to non-controlling interests |
|
380 |
|
182 |
|
383 |
|
266 |
||||
Net income attributable to NICE Ltd.'s shareholders |
$ |
44,781 |
$ |
44,787 |
$ |
96,995 |
$ |
90,985 |
||||
Earnings per share: |
||||||||||||
Basic |
|
$ |
0.70 |
$ |
0.71 |
$ |
1.53 |
$ |
1.45 |
|||
Diluted |
|
$ |
0.67 |
$ |
0.68 |
$ |
1.45 |
$ |
1.39 |
|||
Weighted average shares outstanding: |
||||||||||||
Basic |
|
|
63,108 |
|
62,638 |
|
63,096 |
|
62,557 |
|||
Diluted |
|
|
66,512 |
|
65,633 |
|
66,618 |
|
65,484 |
|||
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 |
||||||||||||
June 30, |
|
June 30, |
||||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
||||
GAAP revenues |
$ |
456,031 |
$ |
393,180 |
$ |
911,052 |
$ |
803,608 |
||||||
Valuation adjustment on acquired deferred cloud revenue |
|
2,773 |
|
1,950 |
|
4,596 |
|
2,729 |
||||||
Valuation adjustment on acquired deferred services revenue |
|
60 |
|
- |
|
166 |
|
- |
||||||
Valuation adjustment on acquired deferred product revenue |
|
- |
|
- |
|
- |
|
- |
||||||
Non-GAAP revenues |
$ |
458,864 |
$ |
395,130 |
$ |
915,814 |
$ |
806,337 |
||||||
GAAP cost of revenue |
$ |
150,507 |
$ |
135,733 |
$ |
298,369 |
$ |
275,818 |
||||||
Amortization of acquired intangible assets on cost of cloud |
|
(18,211) |
|
(16,064) |
|
(35,727) |
|
(31,622) |
||||||
Amortization of acquired intangible assets on cost of services |
|
(1,226) |
|
(1,497) |
|
(2,451) |
|
(3,019) |
||||||
Amortization of acquired intangible assets on cost of product |
|
(287) |
|
(1,125) |
|
(570) |
|
(2,259) |
||||||
Valuation adjustment on acquired deferred cost of cloud |
|
26 |
|
244 |
|
51 |
|
537 |
||||||
Cost of cloud revenue adjustment (1) |
|
(1,676) |
|
(948) |
|
(3,170) |
|
(1,792) |
||||||
Cost of services revenue adjustment (1) |
|
(1,646) |
|
(1,680) |
|
(4,081) |
|
(3,280) |
||||||
Cost of product revenue adjustment (1) |
|
(126) |
|
(68) |
|
(251) |
|
(136) |
||||||
Non-GAAP cost of revenue |
$ |
127,361 |
$ |
114,595 |
$ |
252,170 |
$ |
234,247 |
||||||
GAAP gross profit |
$ |
305,524 |
$ |
257,447 |
$ |
612,683 |
$ |
527,790 |
||||||
Gross profit adjustments |
|
25,979 |
|
23,088 |
|
50,961 |
|
44,300 |
||||||
Non-GAAP gross profit |
$ |
331,503 |
$ |
280,535 |
$ |
663,644 |
$ |
572,090 |
||||||
GAAP operating expenses |
$ |
241,546 |
$ |
201,309 |
$ |
482,232 |
$ |
412,824 |
||||||
Research and development (1,2) |
|
(4,111) |
|
(2,373) |
|
(8,168) |
|
(4,988) |
||||||
Sales and marketing (1,2) |
|
(6,911) |
|
(8,797) |
|
(17,819) |
|
(14,062) |
||||||
General and administrative (1,2) |
|
(18,688) |
|
(11,340) |
|
(31,375) |
|
(24,174) |
||||||
Amortization of acquired intangible assets |
|
(9,952) |
|
(9,650) |
|
(19,660) |
|
(19,455) |
||||||
Valuation adjustment on acquired deferred commission |
|
55 |
|
36 |
|
108 |
|
71 |
||||||
Non-GAAP operating expenses |
$ |
201,939 |
$ |
169,185 |
$ |
405,318 |
$ |
350,216 |
||||||
|
||||||||||||||
NICE LTD. AND SUBSIDIARIES |
||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued) |
||||||||||||||
U.S. dollars in thousands (except per share amounts) |
||||||||||||||
Quarter ended |
|
Year to date |
||||||||||||
June 30, |
|
June 30, |
||||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
||||
GAAP financial and other expense, net |
$ |
9,062 |
$ |
(423) |
$ |
12,456 |
$ |
1,227 |
||||||
Amortization of discount on debt and loss from extinguishment of debt |
|
(10,811) |
|
(2,532) |
|
(14,937) |
|
(4,874) |
||||||
Non-GAAP financial and other income, net |
$ |
(1,749) |
$ |
(2,955) |
$ |
(2,481) |
$ |
(3,647) |
||||||
GAAP taxes on income |
$ |
10,515 |
$ |
11,956 |
$ |
21,383 |
$ |
23,020 |
||||||
Tax adjustments re non-GAAP adjustments |
|
16,529 |
|
12,499 |
|
32,343 |
|
24,790 |
||||||
Non-GAAP taxes on income |
$ |
27,044 |
$ |
24,455 |
$ |
53,726 |
$ |
47,810 |
||||||
GAAP net income |
$ |
44,401 |
$ |
44,605 |
$ |
96,612 |
$ |
90,719 |
||||||
Valuation adjustment on acquired deferred revenue |
|
2,833 |
|
1,950 |
|
4,762 |
|
2,729 |
||||||
Valuation adjustment on acquired deferred cost of cloud revenue |
|
(26) |
|
(244) |
|
(51) |
|
(537) |
||||||
Amortization of acquired intangible assets |
|
29,676 |
|
28,336 |
|
58,408 |
|
56,355 |
||||||
Valuation adjustment on acquired deferred commission |
|
(55) |
|
(36) |
|
(108) |
|
(71) |
||||||
Share-based compensation (1) |
|
31,251 |
|
25,206 |
|
62,957 |
|
46,851 |
||||||
Acquisition related expenses (2) |
|
1,907 |
|
- |
|
1,907 |
|
1,581 |
||||||
Amortization of discount on debt and loss from extinguishment of debt |
|
10,812 |
|
2,532 |
|
14,937 |
|
4,874 |
||||||
Tax adjustments re non-GAAP adjustments |
|
(16,529) |
|
(12,499) |
|
(32,343) |
|
(24,790) |
||||||
Non-GAAP net income |
$ |
104,270 |
$ |
89,850 |
$ |
207,081 |
$ |
177,711 |
||||||
GAAP diluted earnings per share |
$ |
0.67 |
$ |
0.68 |
$ |
1.45 |
$ |
1.39 |
||||||
Non-GAAP diluted earnings per share |
$ |
1.57 |
$ |
1.37 |
$ |
3.11 |
$ |
2.71 |
||||||
Shares used in computing GAAP diluted earnings per share |
|
66,512 |
|
65,633 |
|
66,618 |
|
65,484 |
||||||
Shares used in computing non-GAAP diluted earnings per share |
|
66,512 |
|
65,633 |
|
66,618 |
|
65,484 |
||||||
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 |
||||||||||
June 30, |
|
June 30, |
||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
||
Cost of cloud revenue |
$ |
1,676 |
$ |
948 |
$ |
3,170 |
$ |
1,792 |
||||
Cost of services revenue |
|
1,646 |
|
1,680 |
|
4,081 |
|
3,280 |
||||
Cost of product revenue |
|
126 |
|
68 |
|
251 |
|
136 |
||||
Research and development |
|
4,111 |
|
2,373 |
|
8,168 |
|
4,988 |
||||
Sales and marketing |
|
6,911 |
|
8,797 |
|
17,819 |
|
13,974 |
||||
General and administrative |
|
16,781 |
|
11,340 |
|
29,468 |
|
22,681 |
||||
$ |
31,251 |
$ |
25,206 |
$ |
62,957 |
$ |
46,851 |
|||||
(2) |
Acquisition related expenses |
|||||||||||
Quarter ended |
|
Year to date |
||||||||||
June 30, |
|
June 30, |
||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
||
Research and development |
$ |
- |
$ |
- |
$ |
- |
$ |
- |
||||
Sales and marketing |
|
- |
|
- |
|
- |
|
88 |
||||
General and administrative |
|
1,907 |
|
- |
|
1,907 |
|
1,493 |
||||
$ |
1,907 |
$ |
- |
$ |
1,907 |
$ |
1,581 |
|||||
NICE LTD. AND SUBSIDIARIES |
|||||||||||||||
CONSOLIDATED CASH FLOW STATEMENTS |
|||||||||||||||
U.S. dollars in thousands |
|||||||||||||||
Quarter ended |
|
Year to date |
|||||||||||||
June 30, |
|
June 30, |
|||||||||||||
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|||||
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|||||||||
Operating Activities |
|||||||||||||||
Net income |
$ |
44,402 |
$ |
44,605 |
$ |
96,613 |
$ |
90,719 |
|||||||
Depreciation and amortization |
|
45,911 |
|
45,601 |
|
90,835 |
|
89,651 |
|||||||
Stock based compensation |
|
30,979 |
|
25,064 |
|
62,434 |
|
46,632 |
|||||||
Amortization of premium and discount and accrued interest on marketable securities |
|
2,066 |
|
(3,618) |
|
5,997 |
|
(2,870) |
|||||||
Deferred taxes, net |
|
(16,207) |
|
(678) |
|
(17,065) |
|
(9,870) |
|||||||
Changes in operating assets and liabilities: |
|||||||||||||||
Trade Receivables |
|
(2,783) |
|
14,134 |
|
(22,467) |
|
14,793 |
|||||||
Prepaid expenses and other assets |
|
(14,103) |
|
(20,677) |
|
(24,963) |
|
(34,768) |
|||||||
Trade payables |
|
(4,912) |
|
(13,283) |
|
4,792 |
|
(805) |
|||||||
Accrued expenses and other current liabilities |
|
(11,064) |
|
(33,357) |
|
(12,429) |
|
(21,460) |
|||||||
Operating lease right-of-use assets, net |
|
4,442 |
|
4,363 |
|
8,923 |
|
8,512 |
|||||||
Deferred revenue |
|
(3,843) |
|
(415) |
|
48,060 |
|
38,098 |
|||||||
Operating lease liabilities |
|
(4,778) |
|
(4,132) |
|
(10,475) |
|
(9,689) |
|||||||
Amortization of discount on debt |
|
3,513 |
|
2,532 |
|
7,612 |
|
4,875 |
|||||||
Loss from extinguishment of debt |
|
7,298 |
|
- |
|
7,298 |
|
- |
|||||||
Other |
|
519 |
|
(558) |
|
515 |
|
585 |
|||||||
Net cash provided by operating activities |
|
81,440 |
|
59,581 |
|
245,680 |
|
214,403 |
|||||||
Investing Activities |
|||||||||||||||
Purchase of property and equipment |
|
(10,631) |
|
(7,823) |
|
(12,960) |
|
(17,456) |
|||||||
Purchase of Investments |
|
(70,442) |
|
(69,061) |
|
(223,748) |
|
(154,488) |
|||||||
Proceeds from Investments |
|
112,527 |
|
78,980 |
|
167,104 |
|
164,865 |
|||||||
Capitalization of software development costs |
|
(11,159) |
|
(9,912) |
|
(21,275) |
|
(19,199) |
|||||||
Proceeds from business and asset acquisitions adjustments |
|
- |
|
- |
|
444 |
|
- |
|||||||
Payments for business and asset acquisitions, net of cash acquired |
|
(129,306) |
|
- |
|
(129,306) |
|
(50,836) |
|||||||
Net cash used in investing activities |
|
(109,011) |
|
(7,816) |
|
(219,741) |
|
(77,114) |
|||||||
Financing Activities |
|||||||||||||||
Proceeds from issuance of shares upon exercise of share options |
|
2,083 |
|
5,865 |
|
2,375 |
|
7,349 |
|||||||
Purchase of treasury shares |
|
(340) |
|
(3,531) |
|
(44,562) |
|
(27,601) |
|||||||
Dividends paid to noncontrolling interest |
|
(801) |
|
- |
|
(801) |
|
- |
|||||||
Capital Lease payments |
|
- |
|
(15) |
|
- |
|
(177) |
|||||||
Repayment of debt |
|
(82,814) |
|
- |
|
(82,814) |
|
- |
|||||||
Net cash provided by/(used in) financing activities |
|
(81,872) |
|
2,319 |
|
(125,802) |
|
(20,429) |
|||||||
Effect of exchange rates on cash and cash equivalents |
|
1,767 |
|
902 |
|
1,048 |
|
(1,085) |
|||||||
Net change in cash and cash equivalents |
|
(107,676) |
|
54,986 |
|
(98,815) |
|
115,775 |
|||||||
Cash and cash equivalents, beginning of period |
$ |
451,128 |
$ |
289,112 |
$ |
442,267 |
$ |
228,323 |
|||||||
Cash and cash equivalents, end of period |
$ |
343,452 |
$ |
344,098 |
$ |
343,452 |
$ |
344,098 |
|||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005469/en/
FAQ
What were the second quarter 2021 earnings for NICE?
How much did NICE's cloud revenue grow in Q2 2021?
What is NICE's guidance for the full year 2021?
What was the diluted EPS for NICE in the second quarter of 2021?
How did NICE's operating income perform in Q2 2021?
