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Nice Ltd. — NiCE 2025 CMD Presentation (company IR deck)
Nice Ltd. (NICE) · 75 slides · Filed Oct 30, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All NICE deck slides
Slide 1
November 17, 2025
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, amortization of discount on debt and the tax effect of the Non-GAAP adjustments. 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-GAA P 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
Slide 3 — Vision
Vision and Opportunity Scott Russell, CEO
Slide 4 — Key takeaways
Key takeaways Massive market opportunity NiCE at intersection of AI and automation Positioned to win the future of customer experience Investing to accelerate growth in AI Key Takeaways Massive CX AI market opportunity Perfectly positioned to win in the CX AI Era Accelerate growth & shareholder returns via focused investment
Slide 5 — World
Financial Crime and Compliance Global employees Fortune 100 companies #1 >85% #1 Customer Experience 10k+ #1 27K Global customers Public Safety and Justice A World Top global investment banks 10/10
Slide 6 — Key takeaways
Key takeaways Massive market opportunity NiCE at intersection of AI and automation Positioned to win the future of customer experience Investing to accelerate growth in AI Key Takeaways Massive CX AI market opportunity
Slide 7 — Brands that Invest in CX
Brands that Invest in CX Outperform their Peers 2x Revenue growth Customer Lifetime Value Source: McKinsey Retention rates Customer Retention Source: Forbes 2x Business growth Net Promoter Score Source: Bain 30% Lower cost to serve Cost Reduction Source McKinsey 1.5x More engaged employees Employee Engagement Source: Forbes 3x
Slide 8 — 16%
Global CX Interactions Volume Continues to Grow 16% 2028 Source: Gartner
Slide 9 — AI is
Autonomous Resolution Context Aware Real-Time Engagements From Reactive to Proactive Orchestration Seamless Human and AI Experiences Self-Evolving Learning Loops AI is Revolutionizing Customer Experience Intent-Driven Customer Journeys
Slide 10 — Human Assisted CX Still Matters
Human Assisted CX Still Matters Low complexity interactions High complexity interactions AI agents Augmented human agents
Slide 11 — Key takeaways
Key takeaways Massive market opportunity NiCE at intersection of AI and automation Positioned to win the future of customer experience Investing to accelerate growth in AI Key Takeaways Perfectly positioned to win in the CX AI Era
Slide 12 — Entering the CX AI Era from a Position of Leadership
Entering the CX AI Era from a Position of Leadership 6B AI augmented interactions AI Innovation and Growth Customer momentum Financial performance 2T AI analyzed words per month 20B Interactions orchestrated 1B Minutes of voice interactions monthly +65% AI traffic growth 40 Years of CX experience and data $3B 2025E Revenue +49% AI ARR (Q3/25) $692M LTM Free Cash flow
Slide 13 — Undisputed
Undisputed Market Leadership Conversational AI for CX Contact Center as a Service Intelligent Self-Service Intelligent Contact Center #1 Knowledge Management Customer Interaction Analytics Workforce Engagement Management Customer Journey Analytics Agent Management Customer Experience 2025
Slide 14 — Our AI Platform is Purpose-built for CX
Our AI Platform is Purpose-built for CX • AI native platform • Comprehensive CX suite • Agentic AI platform • Interactions-based data • End-to end customer journey orchestration • Enterprise-grade scalability, pre-built integrations Automate Experiences Orchestrate Workflows Augment Workforce Predictive AI Models Customer Intelligence Advanced Orchestration Customer Engagement Data P u r p o s e - b u i l t A I Open Ecosystem
Slide 15 — Our AI Advantage
We own the point of customer engagement Our AI Advantage We turn customer intelligence into autonomous action C u s t o m e r e n g a g e m e n t A u t o n o m o u s a c t i o n
Slide 16 — Our AI Advantage
We own the point of customer engagement We turn customer intelligence into autonomous action C u s t o m e r e n g a g e m e n t A u t o n o m o u s a c t i o n Every channel Every journey Every interaction AI and human orchestration reactive and proactive Real-time customer intent Built on the industry’s largest CX data foundation AI-ready customer intelligence Dynamic agentic orchestration to resolution Interaction intelligence engine to drive AI automation Behavioral and generative AI models to optimize experiences Our AI Advantage
Slide 17 — Customer Service
Front- office Mid- office Back- office Own the point of customer engagement Going Beyond Customer Service from Intent to Fulfillment Any channel Human & Agentic AI Orchestrate end-to-end customer fulfillment
Slide 18 — $72B
Our Market Opportunity is Accelerating and Expanding with AI $31B Agentic AI Conversational AI CCaaS Mid-back office $72B 2028 TAM 2025 TAM
Slide 19 — 40%
Preferred Customer Choice for CX AI 40% prefer to buy CX AI from their primary CCaaS vendor Primary CCaaS vendor Primary CRM vendor Primary Hyperscaler Other / AI domain solutions Primary vendors (74%) From which vendor would you purchase AI capabilities (by primary CCaaS vendor type) 28% of global Interactions will be AI by 2029 100% 26% 40% 18% 16% 66% positioned to win in two-thirds of market Source: BCG 26% AI domain providers 40% Primary CCaaS Vendor 26% prefer to buy from AI domain solution providers
Slide 20 — Positioned to Win
Positioned to Win AI-native CX platform Own point of engagement Interactions based AI-ready data CX domain expertise Complete & unified CX suite Human and AI agent orchestration C u s t o m e r e n g a g e m e n t A u t o n o m o u s a c t i o n
Slide 21 — Key takeaways
Key takeaways Massive market opportunity NiCE at intersection of AI and automation Positioned to win the future of customer experience Investing to accelerate growth in AI Key Takeaways Accelerate growth & shareholder returns via focused investment
Slide 22 — NiCE Growth Catalysts
Win the CCaaS migration wave AI-first growth across every customer touchpoint Automate agentic AI on our platform Expand beyond the contact center Accelerate global expansion and ecosystem growth NiCE Growth Catalysts
Slide 23 — >$4B
Rapid Innovation Doubling Our Cloud Revenue >$4B $2.2B 2025E $3.5B 2028E Market Expansion Operational and Delivery Foundations
Slide 24 — Key takeaways
Key takeaways Massive market opportunity NiCE at intersection of AI and automation Positioned to win the future of customer experience Investing to accelerate growth in AI Key Takeaways Massive CX AI market opportunity Perfectly positioned to win in the CX AI Era Accelerate growth & shareholder returns via focused investment
Slide 25 — CX Product
CX Product Strategy Jeff Comstock, President CX Product and Technology
Slide 26 — Market Forces Accelerating the Next Phase of CX Growth
Market Forces Accelerating the Next Phase of CX Growth Demand for proactive experiences AI-augmented workforce emerges Automation beyond the contact center Platform consolidation accelerates Consumers expect AI-powered CX
Slide 27 — General Market Current State
General Market Current State Human Agent Self- Service
Slide 28 — NiCE CX AI Platform Advantage
NiCE CX AI Platform Advantage AI-powered Engagement AI Learning Loop Automated Insights Self- Service Human Assisted Engagement Data Automated Insights Self- Service Human Assisted Engagement Data
Slide 29 — CX AI Platform
The World’s Leading CX AI Platform Automate Experiences Orchestrate Workflows Augment Workforce Predictive AI Models Customer Intelligence Advanced Orchestration Customer Engagement Data P u r p o s e - b u i l t A I m o d e l s Open Ecosystem +
Slide 30 — AI Agents
Channel Connectors System Connectors Voice Digital CRM ERP RPA Office ITSM Data Knowledge Memory CX Automation Workforce Augmentation Authentication Self-Service Fulfillment Outreach Ticketing Compliance Quality Back Office Forecasting Performance AI Agents UCaaS Analytics, AI, & Automation for Unified Observability & Trust Front Office Back Office xApps AI-powered Workflow Orchestration
Slide 31 — Key Product Investment Areas
Key Product Investment Areas Orchestration CX flows across the enterprise Cognigy Accelerating native & stand-alone Platform Extending enterprise leadership
Slide 32 — into Action
Agentic AI: Turning Intelligence into Action Philipp Heltewig, Chief AI Officer and GM of NiCE Cognigy
Slide 33 — 96%
Nice to meet you! We are NiCE Cognigy, and we are the world’s leading Agentic AI Platform for CX. Loved by customers Praised by analysts A Leader in The Forrester Wave Conversational AI for Customer Service, Q2 2024. A Leader in 2025 Gartner® Magic Quadrant for Enterprise Conversational AI Platforms. A Leader in IDC MarketScape Worldwide General-Purpose Conversational AI Software, 2025 Founded in 2016 in Düsseldorf, Germany User Inputs Processed in 2024 1.2 Billion Recommendation Rate 96%
Slide 34 — From Conversational AI Platform to Agentic AI
Impact: Better CX Higher resolution rate Higher automation rate From Conversational AI Platform to Agentic AI The Cognigy Journey NLP Frameworks 2015 Conversational AI Platform GenAI-enhanced Conversational AI Platform AI Agent Orchestration Platform Founded 2025 2020
Slide 35 — Design, Run & Optimize
The world’s leading Agentic AI Platform for CX Design, Run & Optimize AI Copilots Advanced Agent Assist for Voice and Chat Live Agent Omni-Channel Agent Workspace for Digital AI Agents Agentic AI Agents and System Orchestration Voice Gateway Enterprise Voice Connectivity Insights End-to-end Conversational Analytics
Slide 36 — NiCE Cognigy combines leading Agentic AI,
Beyond the hype: NiCE Cognigy combines leading Agentic AI, with logic guardrails and prebuilt system integrations “Hallucinations remain a fundamental challenge for all large language models” https://openai.com/index/why-language-models-hallucinate/ September 2025 “AI agents must be deeply aligned with the company’s logic, data flows, and value creation levers” https://www.mckinsey.com/capabilities/ quantumblack/our-insights/ seizing-the-agentic-ai-advantage June 2025 “Agentic AI will lead to unwanted outcomes if it is not controlled with the right guardrails” https://www.mckinsey.com/capabilities/ quantumblack/our-insights/ seizing-the-agentic-ai-advantage June 2025
Slide 37 — Agentic CX
Agentic CX Platform The enterprise-ready Simple Chat Interface Single LLM Connection Basic Prompt Templates Prompt Wrappers 30+ channels Agentic Orchestration End-to-end workflows 100+ system integrations Human in the loop Governance & Controls Platform Live Agent Handover, Embedded Agent Assist 100+ System Integrations, Contact Center Integrations Visual Flow Builder, Guardrails, Failbacks, Validation Orchestration, Tool Usage, Planning, & Reasoning Omnichannel Routing Versioning, auditing, RBAC, Data Residency, GDPR Observability
Slide 38 — How We Differentiate
Hybrid AI Agents Blending agentic, LLM- driven autonomy with deterministic, NLU-driven workflows AI Ops & Orchestration Vendor-agnostic, granular LLM orchestration, combined with real-time AI oversight Native CC Connectivity Voice-native agents with full-stack telephony integration and Agent Copilot Multi-Modal Experiences Blending voice, text, rich media, and mobile device capabilities in a fluid interaction Enterprise Readiness Certified with top industry standards. Elastic scaling, robust RBAC and security architecture AI autonomy with enterprise control Maximum flexibility and observability Fastest time-to-value for CX automation Rich & engaging customer journeys Scalable with any enterprise demand How We Differentiate
Slide 39 — Loved by the world’s leading brands…
“While others do the slides, Cognigy does the work.” Gartner Peer Insights review (2025) 30B+ USD Manufacturer “Surpassing Expectations” Gartner Peer Insights review (2025) 10B – 30B USD FMCG Industry “Agentic AI Boosts Teams with Easy Use” Gartner Peer Insights review (2025) 10B – 30B USD FMCG Industry https://www.gartner.com/reviews/market/conversational-ai-platforms/vendor/nice-cognigy/product/cognigy-ai-platform/reviews Loved by the world’s leading brands… 4.8 Outranking Kore AI, Soundhound Amelia and Sierra AI on Gartner Peer Insights and G2. https://www.g2.com/products/sierra/reviews
Slide 40 — The secret
The secret to our success is our customer obsession NiCE Cognigy Ratings Overview 4.8 138 ratings (All time)
Slide 41 — Real Impact
Real Impact Our Customers are Seeing 60-90% Call Containment Our customers see high containment rates through AI Agent self service. 25%+ AHT Reduction Conversations that are routed to humans, are optimized through AI. 20%+ CSAT Improvement The right blend of AI Agents and human agents, leads to higher customer satisfaction.
Slide 42 — NiCE Acquisition - the BIG News…
NiCE Acquisition - the BIG News… NiCE Accelerates Agentic AI Focus with Cognigy Acquisition A new era for AI-powered CX automation NiCE’s Cognigy Deal Targets $30B AI Customer Experience Opportunity NiCE Acquires Cognigy: Integrating Conversational AI and Execution in One CX Stack NiCE Cognigy will continue to be available as a stand-alone platform and remain contact center agnostic
Slide 43 — Better Together
Better Together Accelerating our success as one integrated platform, and stand-alone • AI agent orchestration of front to back-office with evals & guardrails • 100+ system integrations for enterprise automation • Access to full CX market Scale & CX Foundation Agentic AI & Orchestration Unified CX AI Platform • Global GTM expansion & partner ecosystem • Accelerated R&D • Joint innovation • Broad CX Platform Capabilities & unique CX data layer
Slide 44 — Fully Autonomous Customer Experience Engine
Billions of data points, representing real customer journeys Fully Autonomous Customer Experience Engine AI Agent KPIs & Insights Human-to-human Engagement Low-code AI-creation based on pre-trained, composable Agents Structured datasets, quality insights, and behavioral patterns AI Agents Human Agents Human / AI Cooperation NiCE Cognigy NiCE AI Agents Operate Optimize Deploy 2 3 4 1 Refine AI - Simulate Outbound AI - Augment Learn 4 Engage 1 Evaluate Record 2 3
Slide 45 — Financial Overview
Financial Overview Beth Gaspich, CFO
Slide 46 — Key Takeaways
Key Takeaways Massive CX AI market opportunity Perfectly positioned to win in the CX AI Era Accelerate growth & shareholder returns via focused investments
Slide 47 — Building on a Profitable Foundation to Fuel the
Building on a Profitable Foundation to Fuel the Next Phase of Growth Total Revenue (Non-GAAP) $1,657M $1,926M $2,181M $2,378M $2,735M 2020 2021 2022 2023 2024 CAGR 13% $470M $544M $625M $704M $850M 28.4% 28.2% 28.7% 29.6% 31.1% 2020 2021 2022 2023 2024 Operating Income and Margin (Non-GAAP) CAGR 16%
Slide 48 — Strong Free Cash Flow Creates Significant
Strong Free Cash Flow Creates Significant Financial Flexibility Free Cash Flow (Non-GAAP) 25% 21% 18% 20% 27% 2020 2021 2022 2023 2024 FCF Margin (Non-GAAP) $417M $395M $398M $477M $732M 2020 2021 2022 2023 2024 CAGR 15%
Slide 49 — Revenue Growth and Profitability Targets
Delivering on 2025 Year-to-Date Revenue Growth and Profitability Targets Total Revenue Cloud Revenue EPS Guidance Actual Q1 5.9% 6.2% Q2 7.5% 9.4% Q3 5.4% 6.1% Guidance Actual Q1 12.0% 12.4% Q2 12.0% 12.3% Q3 12.0% 12.6% Guidance Actual Q1 9.7% 11.2% Q2 12.7% 14.0% Q3 9.7% 10.4%
Slide 50 — Driving Shareholder Value Through Disciplined
Maintain strong balance sheet • Optimize financial flexibility to support both strategic investments and share repurchases • Healthy debt to EBITDA ratio of 0-1x Expanding share buyback program • Continued execution of $500M buyback program • Buyback yield of 5% over last 12 months ended September 30, 2025 Driving Shareholder Value Through Disciplined Capital Deployment Strategic and disciplined investment • Focused investments in organic growth • Strategic technology tuck- in acquisitions to complement AI platform
Slide 51 — Key Takeaways
Key Takeaways Massive CX AI market opportunity Perfectly positioned to win in the CX AI Era Accelerate growth & shareholder returns via focused investments
Slide 52 — Our Revenue Growth Catalysts
AI-first growth across every customer touchpoint Automate agentic AI on our platform Win the CCaaS migration wave Accelerate global expansion and ecosystem growth Expand beyond the contact center Our Revenue Growth Catalysts Cros s-sel l & U p-se ll
Slide 53 — AI-First Growth Across Every Customer Touchpoint
Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2026 CX AI ARR AI-First Growth Across Every Customer Touchpoint 39% YoY 42% YoY 43% YoY excl. Cognigy CX AI ARR expected to grow >2x pre-Cognigy by YE’26. Accelerating Growth with NiCE Cognigy
Slide 54 — Automate Agentic AI on our Platform:
Hybrid pricing model across user and sessions Sessions growth outpaces changes in users Automate Agentic AI on our Platform: Evolving Monetization for an AI-Driven CX Economy Revenue scales with AI adoption — driving growth as customers automate Users Sessions
Slide 55 — Automate Agentic AI on Our Platform:
Automate Agentic AI on Our Platform: AI Revenue Scales with Interaction Volume $150M $168M $179M $198M $208M $238M $268M - 100 200 300 400 500 600 - 50 100 150 200 250 300 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 AI ARR AI Volume of Interactions
Slide 56 — Automate Agentic AI on Our Platform:
Automate Agentic AI on Our Platform: Customer Success Story AI as a % of ARR 40% 34% 11% Seats 21k 24k 17k $0.5M $2.1M $3.6M $4.7M $6.2M $9.0M 2023/Q3 2024/Q3 2025/Q3 Fortune 500 Media & Entertainment Customer ARR ($M) AI Non AI
Slide 57 — Automate Agentic AI on Our Platform:
Automate Agentic AI on Our Platform: Customer Success Story AI as a % of ARR 33% 29% 21% Seats 4k 4k 4k Fortune 500 U.S. Utilities Company ($M) $1.0M $1.4M $1.9M $4.6M $4.7M $5.9M 2023/Q3 2024/Q3 2025/Q3 AI Non AI
Slide 58 — ~40%
Win the CCaaS Migration Wave ~40% 189 243 297 389 444 Q3/21 Q3/22 Q3/23 Q3/24 Q3/25 +$1M ARR Cloud Customers ~15 million Global CX agents ~6 million CCaaS seats ~9 million On-prem seats
Slide 59 — Accelerate Global Expansion
$10M $16M $31M $39M $50M $65M 15% 19% 32% 39% 48% 57% Q3/2020 Q3/2021 Q3/2022 Q3/2023 Q3/2024 Q3/2025 International Cloud Revenue CAGR 36% Accelerate Global Expansion International Cloud revenue % of Total Internation Revenue
Slide 60 — 73%
Accelerate Ecosystem Growth 51% 64% 70% 2022 2023 2024 YTD/2025 % of Partner-Led CXone Mpower Large Enterprise New ACV 73% Channel Partners involved in of new large enterprise CXone ACV
Slide 61 — Expand Beyond the Contact Center
Front Office Beyond Front Office Customer Service NiCE CX AI A Automating Customer Service A Beyond Customer Service Expand Beyond the Contact Center
Slide 62 — Expand Beyond the Contact Center
Front Office Beyond Front Office Customer Service A A Fulfilling Customer Service Intents B Beyond Customer Service B NiCE CX AI Automating Customer Service Expand Beyond the Contact Center
Slide 63 — Expand Beyond the Contact Center
C Front Office Beyond Front Office Customer Service A A B Beyond Customer Service NiCE CX AI Automating Beyond Customer Service C Automating Customer Service Fulfilling Customer Service Intents Expand Beyond the Contact Center B
Slide 64 — Expanding Value Within Our Installed Base
Expanding Value Within Our Installed Base 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % of Customers using 2+ applications % of Customers using 4+ applications % of Customers using 6+ applications % of Customers using 8+ applications Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q1’21 Q2’21 Q3’21 Q4’21 % of CXone customers using 8+ solutions % of CXone customers using 2+ solutions % of CXone customers using 4+ solutions % of CXone customers using 6+ solutions
Slide 65 — Investing for Accelerated Revenue
Investing for Accelerated Revenue Growth 2026E & Mid-Term Outlook
Slide 66 — ~$65M
Investing to Unlock Accelerated Revenue Growth Incremental 2026E Investment ~$65M ~$95M Cloud & AI Delivery Acceleration (COGS) • Optimize compute for scalable performance • Expand regional infrastructure and resource capacity for global growth • Build partner AI centers of excellence for faster time to value Accelerated Product Innovation (R&D) • Advance Cognigy AI roadmap and integration into CXone • Build new AI capabilities for mid and back office Go-To-Market Expansion (S&M) • Strengthen global reach through partnerships • Shift to AI-first sales strategy
Slide 67 — Investing for Future Growth:
Investing for Future Growth: Key Cloud Delivery Investments 2025E 2026E 2028E Growth initiatives represent a ~200 bps impact on 2026E gross margin. Gross Margin Cloud Gross Margin
Slide 68 — Across NiCE
Internal AI Investments: Driving Future Operating Leverage Everyday AI Across NiCE Customer Support OM & Billing Quoting & Pricing Sales R&D Finance HR
Slide 69 — Increased GTM and R&D Investment to Accelerate
Increased GTM and R&D Investment to Accelerate Top-Line Growth 7% 7% 5% 20% 22% 24% 12% 13% 14% 3% 3% 3% 2025E 2026E 2028E Capitalized Software R&D Net of Software Capitalization S&M G&A 41% 45% 46% Operating Expenses and R&D Capitalization as a % of Revenue
Slide 70 — 2025E-2028E Financial Outlook (Non-GAAP)
Cloud Revenue Growth Operating Margin Free Cash Flow Margin Revenue Growth 12%-13% 31% 2025-E 7%-8% 2026-E 2028-E 13%-15% 25%-26% 7%-9% 17%-19% 26%-28% 12%-14% 2025E-2028E Financial Outlook (Non-GAAP) Capital Return as % of FCF 19%-20% 18%-19% 20%-21% 50%+ 50%+ 50%+
Slide 71 — Fuel for the Future:
C Cloud Backlog +15% YoY +13% YoY excluding Cognigy $2,461M $2,543M $2,833M $559M $530M $481M $3,020M $3,073M $3,314M 9/30/2024 12/31/2024 9/30/2025 NiCE Remaining Performance Obligations Fuel for the Future: Cloud Backlog Accelerates Trajectory Cloud Non-Cloud
Slide 72 — ~$3.5B
AI Driving the Next Phase of Cloud Revenue Growth 2025E Cloud Revenue AI, 12% 2028E Cloud Revenue AI, 30% ~$2.2B ~$3.5B > $1B in AI Revenue expected by 2028E
Slide 73 — Summary:
Summary: Accelerating with Purpose in the CX AI Market
Slide 74 — Leading with Strength.
Leading with Strength. Investing with Purpose. Delivering Value. Cloud Revenue Growth Prioritize investment in product led AI to deliver accelerated cloud revenue growth Operating Margin Proven operational rigor to deliver expanding margins and profitability Free Cash Flow Strong 90%+ customer retention and vertically diverse customer base result in ongoing healthy free cash flow Capital Return Targeting 50%+ return of free cash flow to shareholders over mid-term 17%-19% 2028E Return to Margin Expansion in 2027 20%-21% Margins 2028E 50%+ of FCF Annually