NICE Tops Q2 Backed By Growing Cloud Business At Scale; Boosts FY22 Guidance

NICE Ltd NICE reported second-quarter FY22 non-GAAP revenue growth of 15.6% year on year to $530.6 million, beating the consensus of $523.6 million.
Non-GAAP revenues from Cloud grew 26.8% Y/Y to $311.4 million.
Non-GAAP gross margin expanded 110 bps to 73.3%, while the non-GAAP operating margin expanded 80 bps to 29%.
Non-GAAP EPS of $1.86 beat the consensus of $1.79.
NICE generated $16 million in operating cash flow and held $1.43 billion in cash and equivalents.
CEO Barak Eilam said, "Our strong performance with 83% recurring revenue driven by our growing cloud business at scale and industry-leading profitability clearly distinguishes NICE among our competitors in a rapidly evolving industry."
Outlook: NICE sees Q3 non-GAAP revenue of $543 million - $553 million (consensus: $545.4 million) and non-GAAP EPS of $1.82 - $1.92 (consensus: $1.84).
NICE raised the FY22 non-GAAP revenue outlook from $2.16 billion - $2.18 billion to $2.168 billion - $2.188 billion (consensus: $2.17 billion) and non-GAAP EPS from $7.25 - $7.45 to $7.33 - $7.53 (consensus: $7.36).
Price Action: NICE shares traded higher by 2.02% at $233.15 in the premarket session on the last check Thursday.