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Nice Ltd. — NICE Earnings Presentation 2026 Q1 FINAL (company IR deck)
Nice Ltd. (NICE) · 25 slides · Filed Oct 30, 2026
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Slide 1 — Q1 2026
( N A S D A Q : N I C E ) Q1 2026 Earnings Presentation
Slide 2 — Disclaimer
Forward Looking Statements Disclaimer This presentation 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, performance, future plans and strategies, projections, anticipated events and trends, the economic environment, 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 uncertainties, contingencies, and risks, including, economic, competitive and other factors, which are difficult to predict and 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, rapid changes in technology and market requirements, the implementation of AI capabilities in certain products and services; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications, loss of market share, cyber security attacks or other security incidents, 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, including those arising from political instability or armed conflict that may disrupt our business and the global economy, our ability to recruit and retain qualified personnel, the effect of newly enacted or modified laws, regulation or standards on the Company and our products, 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 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. Explanation of Non-GAAP measures Non-GAAP financial measures are included in this presentation. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude share-based compensation, amortization of acquired intangible assets, acquisition related expenses, gains on intercompany foreign currency transactions, amortization of deferred financing costs, amortization of discount on debt, the tax effect of the Non-GAAP adjustments, and the tax rate impact resulting from the non-U.S. intercompany transaction. 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 in the earnings press release and in the appendix in this presentation. 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. Disclaimer 2
Slide 3 — >150
3 >85% Fortune 100 Customers >150 Countries Cloud Revenue* $2.3B $611M Cash from Operations* $3.0B Total Revenue* >3,500 R&D Professionals >9,600 Employees Customers 25K Recurring Revenue* $2.7B *Financial figures for the last 12 months ended March 31, 2026. THE Cloud Leader Powering AI in Three Large Specialized Markets
Slide 4 — FINANCIAL
technology works for you In a NiCE world FINANCIAL OVERVIEW Quarterly Results
Slide 5 — Q1-26 Performance vs. Guidance
5 Q1-26 Performance vs. Guidance Guidance Range Actual Total Revenue $755M - $765M $769M Non-GAAP EPS $2.45 - $2.55 $2.64
Slide 6 — Q1-26 Financial Highlights
6 Q1-26 Financial Highlights Q1 2026 Results* Quarterly Results Change Y/Y Total Revenue $769M 9.8% Cloud Revenue $603M 14.6% Non-GAAP Operating Income $200M (6%) Non-GAAP Operating Margin 26.0% (450 bps) Non-GAAP EPS $2.64 (8%) * Q1 2026 results include the financial performance of Cognigy. Q1 2026 cloud revenue growth increased 12% Y/Y excluding Cognigy.
Slide 7 — $345M
LTM Q1/2026 Cloud NRR 7 Q1 2026 Cloud Growth Fueled by AI Adoption and Customer Expansion AI & Self-Service ARR AI & Self-Service ARR YoY Growth AI & Self-Service as % of Total Cloud Revenue $345M 66% 14% 107%
Slide 8 — Revenue Breakdown by Business Segment
$551M $556M $578M $597M $592M $597M $613M $658M $636M $108M $109M $111M $125M $108M $130M $119M $128M $133M $659M $664M $690M $722M $700M $727M $732M $786M $769M Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Customer Engagement Financial Crime and Compliance 8 Revenue Breakdown by Business Segment Quarterly Revenue Annual Revenue $1,974M $2,282M $2,460M $403M $453M $485M $2,378M $2,735M $2,945M 2023 2024 2025 Financial Crime and Compliance Total Revenue
Slide 9 — Revenue Breakdown by Business Model
$468M $482M $500M $534M $526M $541M $563M $608M $603M $149M $148M $150M $150M $140M $140M $139M $141M $124M $42M $35M $40M $38M $34M $45M $30M $38M $41M $659M $664M $690M $722M $700M $727M $732M $786M $769M Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Cloud Services Product 9 Revenue Breakdown by Business Model Quarterly Revenue Annual Revenue $1,582M $1,984M $2,238M $641M $596M $560M $154M $155M $147M $2,378M $2,735M $2,945M 2023 2024 2025 Cloud Services Product
Slide 10 — Recurring Revenue as a Percent of Total Revenue
67% 73% 76% 20% 16% 14% 87% 89% 90% 2023 2024 2025 Cloud Revenue Non-Cloud Recurring Revenue 10 Recurring Revenue as a Percent of Total Revenue 71% 73% 72% 74% 75% 74% 77% 77% 79% 17% 16% 17% 15% 15% 15% 14% 13% 11% 88% 89% 89% 89% 90% 89% 91% 90% 90% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Cloud Revenue Non-Cloud Recurring Revenue Quarterly Annual
Slide 11 — 11
11 Revenue Breakdown by Geographic Region – Q1 2026 EMEA $99M, +34% YoY (+26% in CC) 13% APAC $44M, +23% YoY (+19% in CC) 6% 81% AMERICAS $625M, +6% YoY
Slide 12 — Gross Margins (Non-GAAP)
69.8% 70.2% 69.7% 70.6% 69.4% 68.7% 69.9% 69.4% 68.5% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Gross Margins (Non-GAAP) Cloud GM 70.6% 70.2% 71.9% 70.6% 68.8% 67.2% 67.7% 64.1% 62.1% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Services GM 85.0% 79.4% 84.8% 86.2% 81.2% 83.8% 80.1% 86.4% 85.2% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Product GM 70.5% 70.1% 69.4% 2023 2024 2025 72.4% 70.8% 66.9% 2023 2024 2025 84.0% 84.0% 83.1% 2023 2024 2025
Slide 13 — Non-GAAP Operating Expenses as a Percent of Total Revenue
14.6% 14.5% 14.2% 22.5% 20.6% 19.8% 7.5% 7.3% 7.3% 44.6% 42.3% 41.3% 2023 2024 2025 R&D* S&M G&A 13 Non-GAAP Operating Expenses as a Percent of Total Revenue 14.5% 14.2% 14.7% 14.6% 14.5% 14.4% 14.4% 13.7% 15.0% 20.6% 21.0% 19.2% 21.5% 20.2% 20.6% 19.3% 19.1% 21.6% 8.0% 7.4% 7.6% 6.2% 7.1% 6.6% 7.3% 8.1% 8.6% 40.6% 42.6% 41.5% 42.2% 41.8% 41.6% 41.0% 40.9% 45.1% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 R&D* S&M G&A * R&D including capitalization Quarterly Annual
Slide 14 — Operating Profitability
$220M $223M $242M $249M $235M $243M $254M $268M $224M 33.3% 33.5% 35.1% 34.5% 33.6% 33.4% 34.7% 34.1% 29.1% $0 $50 $100 $150 $200 $250 $300 0% 10% 20% 30% 40% 50% 60% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Non-GAAP EBITDA Non-GAAP EBITDA Margin $200M $202M $221M $227M $214M $220M $231M $244M $200M 30.3% 30.4% 32.0% 31.5% 30.5% 30.2% 31.5% 31.0% 26.0% $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 $240 $260 0% 10% 20% 30% 40% 50% 60% Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Operating Income Operating Margin 14 Operating Profitability Non-GAAP Operating Margin $775M $933M $1,000M 32.6% 34.1% 33.9% $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 $240 $260 $280 $300 $320 $340 $360 $380 $400 $420 $440 $460 $480 $500 $520 $540 $560 $580 $600 $620 $640 $660 $680 $700 $720 $740 $760 $780 $800 $820 $840 $860 $880 $900 $920 $940 $960 $980 $1,000 $1,020 $1,040 $1,060 0% 10% 20% 30% 40% 50% 60% 2023 2024 2025 Non-GAAP EBITDA Non-GAAP EBITDA Margin $704M $850M $908M 29.6% 31.1% 30.8% $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 $240 $260 $280 $300 $320 $340 $360 $380 $400 $420 $440 $460 $480 $500 $520 $540 $560 $580 $600 $620 $640 $660 $680 $700 $720 $740 $760 $780 $800 $820 $840 $860 $880 $900 $920 $940 $960 0% 10% 20% 30% 40% 50% 60% 2023 2024 2025 Operating Income Operating Margin Non-GAAP EBITDA
Slide 15 — Non-GAAP Net Income and EPS
$172M $174M $187M $196M $185M $190M $201M $203M $160M Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 15 Non-GAAP Net Income and EPS Non-GAAP Net Income $2.58 $2.64 $2.88 $3.02 $2.87 $3.01 $3.18 $3.24 $2.64 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Non-GAAP EPS $583M $728M $779M 2023 2024 2025 $8.79 $11.12 $12.30 2023 2024 2025
Slide 16 — Healthy Cash From Operations and Free Cash Flow
Healthy Cash From Operations and Free Cash Flow 16 * Cash Conversion Rate = (Free Cash Flow / Non-GAAP Net Income) Annual Free Cash Flow and Margin $M LTM Q1/2026 LTM Q1/2025 Operating Cash Flow 610.7 863.2 Capital expenditure of property and equipment (24.6) (28.1) Capitalization of software development (79.1) (65.6) Free cash flow 507.0 769.5 8 22 Free cash flow margin 16.8% 27.7% Cash conversion rate * 0.7 1.0 $477M $733M $623M 20% 27% 21% 0% 5% 10% 15% 20% 25% $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 2023 2024 2025 LTM FCF % LTM FCF margin
Slide 17 — Executing on Share Repurchase Plan
Executing on Share Repurchase Plan 17 $42M $146M $86M $95M $252M $31M $41M $165M $253M Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Quarterly Annual $288M $369M $489M 2023 2024 2025
Slide 18 — Outlook* (Non-GAAP)
Outlook* (Non-GAAP) 18 *The outlook is provided as of May 6, 2026. There is no guarantee that the Company will change or update these figures in this presentation should a need arise in the future to update the outlook. This is in addition to the forward-looking statements disclaimer at the beginning of the presentation. 18 Q2 2026 FY 2026 Revenue ($M) $761 – $771 $3,170 – $3,190 EPS $2.60 – $2.70 $10.98 – $11.18
Slide 19 — Appendix
19 Appendix
Slide 20 — GAAP and Non-GAAP Income Statement
GAAP and Non-GAAP Income Statement USD in thousands (except EPS) 20 Quarter ended March 31, 2026 2025 GAAP revenues $ 768,617 $ 700,192 Non-GAAP revenues $ 768,617 $ 700,192 GAAP cost of revenue $ 273,818 $ 232,080 Amortization of acquired intangible assets on cost of cloud (26,942) (15,403) Cost of cloud revenue adjustment (1) (2,391) (3,178) Cost of services revenue adjustment (1) (1,320) (2,455) Cost of product revenue adjustment (1) (9) (22) Non-GAAP cost of revenue $ 243,156 $ 211,022 GAAP gross profit $ 494,799 $ 468,112 Gross profit adjustments 30,662 21,058 Non-GAAP gross profit $ 525,461 $ 489,170 GAAP operating expenses $ 368,049 $ 319,943 Research and development (1) (3,282) (4,693) Sales and marketing (1) (10,288) (15,414) General and administrative (1,2) (19,585) (19,558) Amortization of acquired intangible assets (9,155) (4,693) Non-GAAP operating expenses $ 325,739 $ 275,585 GAAP financial and other income, net $ (19,318) $ (15,850) Amortization of discount on debt - (421) Amortization of deferred financing costs (128) - Gains on intercompany foreign currency transactions 17,835 - Non-GAAP financial and other income, net $ (1,611) $ (16,271)
Slide 21 — GAAP and Non-GAAP Income Statement (cont.)
GAAP and Non-GAAP Income Statement (cont.) USD in thousands (except EPS) 21 Quarter ended March 31, 2026 2025 GAAP taxes on income $ 99,254 $ 34,729 Tax adjustments re non-GAAP adjustments (57,981) 10,093 Non-GAAP taxes on income $ 41,273 $ 44,822 GAAP net income $ 46,814 $ 129,290 Amortization of acquired intangible assets 36,097 20,096 Share-based compensation (1) 36,875 44,925 Acquisition related expenses (2) - 395 Amortization of discount on debt - 421 Amortization of deferred financing costs 128 - Gains on intercompany foreign currency transactions (17,835) - Tax adjustments re non-GAAP adjustments 57,981 (10,093) Non-GAAP net income $ 160,060 $ 185,034 GAAP diluted earnings per share $ 0.77 $ 2.01 Non-GAAP diluted earnings per share $ 2.64 $ 2.87 Shares used in computing GAAP diluted earnings per share 60,603 64,368 Shares used in computing non-GAAP diluted earnings per share 60,603 64,368
Slide 22 — GAAP and Non-GAAP Income Statement (cont.)
GAAP and Non-GAAP Income Statement (cont.) USD in thousands 22 (1) Share-based compensation Quarter ended March 31, 2026 2025 Cost of cloud revenue $ 2,391 $ 3,178 Cost of services revenue 1,320 2,455 Cost of product revenue 9 22 Research and development 3,282 4,693 Sales and marketing 10,288 15,414 General and administrative 19,585 19,163 $ 36,875 $ 44,925 (2) Acquisition related expenses Quarter ended March 31, 2026 2025 Cost of cloud revenue $ - $ - Research and development - - Sales and marketing - - General and administrative - 395 $ - $ 395
Slide 23 — Non-GAAP EBITDA Reconciliation
Non-GAAP EBITDA Reconciliation USD in thousands 23 Quarter ended March 31, 2026 2025 Unaudited Unaudited GAAP net income $ 46,814 $ 129,290 Non-GAAP adjustments: Depreciation and amortization 61,842 43,441 Share-based compensation 35,392 43,337 Financial and other income, net (19,318) (15,850) Acquisition related expenses - 395 Taxes on income 99,254 34,729 Non-GAAP EBITDA $ 223,984 $ 235,342
Slide 24 — Free Cash Flow Reconciliation
Free Cash Flow Reconciliation USD in thousands (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. 24 Quarter ended March 31, 2026 2025 Unaudited Unaudited Net cash provided by operating activities $ 179,246 $ 285,071 Purchase of property and equipment (9,376) (3,667) Capitalization of internal use software costs (21,080) (16,766) Free Cash Flow (a) $ 148,790 $ 264,638
Slide 25 — Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet USD in thousands 25 March 31, December 31, 2026 2025 Unaudited Audited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 257,539 $ 379,388 Short-term investments 46,528 38,010 Trade receivables 767,275 737,954 Prepaid expenses and other current assets 230,404 223,780 Total current assets 1,301,746 1,379,132 LONG-TERM ASSETS: Property and equipment, net 194,095 189,395 Deferred tax assets 178,867 198,213 Other intangible assets, net 551,482 587,599 Operating lease right-of-use assets 75,850 78,064 Goodwill 2,437,484 2,440,532 Prepaid expenses and other long-term assets 243,121 233,095 Total long-term assets 3,680,899 3,726,898 TOTAL ASSETS $ 4,982,645 $ 5,106,030 March 31, December 31, 2026 2025 Unaudited Audited LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 101,917 $ 100,782 Deferred revenues and advances from customers 356,096 303,911 Current maturities of operating leases 13,591 13,742 Accrued expenses and other liabilities 591,244 469,192 Total current liabilities 1,062,848 887,627 LONG-TERM LIABILITIES: Deferred revenues and advances from customers 57,479 61,392 Operating leases 72,485 75,059 Deferred tax liabilities 16,454 109,993 Other long-term liabilities 96,999 95,431 Total long-term liabilities 243,417 341,875 SHAREHOLDERS' EQUITY Nice Ltd's equity 3,676,380 3,876,528 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 4,982,645 $ 5,106,030