NICE Clocks 15.4% Revenue Growth In Q1 Backed Robust Demand; Boosts FY22 Guidance

NICE Ltd NICE reported first-quarter FY22 non-GAAP revenue growth of 15.4% year on year to $527.4 million, beating the consensus of $510.8 million.
Non-GAAP revenues from Cloud grew 28.1% Y/Y to $295 million.
Non-GAAP gross margin expanded 30 bps to 73%, while the non-GAAP operating margin expanded 10 bps to 28.3%.
Non-GAAP EPS of $1.80 beat the consensus of $1.71.
NICE generated $192.7 million in operating cash flow and held $1.49 billion in cash and equivalents.
CEO Barak Eilam said, "Three key elements are driving our continued strong revenue growth and excellent profitability: our widening leadership in the large enterprise market, our industry-leading international footprint, and our unparalleled next-gen digital and AI offering. These three elements, combined with strong and durable demand in our markets, are providing us the fuel to continue executing well on our long-term strategy."
Outlook: NICE sees Q2 FY22 non-GAAP revenue of $520 million - $530 million and non-GAAP EPS of $1.75 - $1.85.
NICE raised the FY22 non-GAAP revenue outlook from $2.14 billion - $2.16 billion to $2.16 billion - $2.18 billion and non-GAAP EPS from $7.07 - $7.27 to $7.25 - $7.45.
Price Action: NICE shares traded lower by 0.08% at $182.55 in the premarket session on the last check Thursday.

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