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 
                             ======   ======   =======   ======= 
 
 
 
       Acquisition related 
 (2)   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/

 
    CONTACT:    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

(END) Dow Jones Newswires

November 14, 2024 05:30 ET (10:30 GMT)