NICE - Earnings call transcript Q2 2021

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Operator

Welcome to the NICE Conference Call Discussing Second Quarter 2021 Results, and thank you for holding. All participants are at present in listen-only mode.

Following management's formal presentation, instructions will be given for the question-and-answer session.

As a reminder, this conference is being recorded, August 5, 2021. I would now like to turn the conference over to Mr. Relations Investor VP Cohen, at NICE. Marty ahead. go Please

Marty Cohen

call Thank Eilam, Barak Financial the Beth you, With me Officer. operator. today Chief Chief are Gaspich, on Executive and Officer;

from of to start, XXXX, constitute will please forward-looking Act the the In these Safe that out would Private we the statements. made company’s like be with could Provisions Before that this advised I forward-looking differ some actual of Harbor the accordance call Securities statements on Reform materially point statements. results of Litigation

Additional the or that is March on cause performance Securities on entitled X could of the Report XXXX. XX-F materially XX, Annual Item Risk Form in the information and differ of as factors Exchange regarding XXXX with actual the Factors in Commission the results company contained company's section to filed

call, full-year today's results XXXX third the During detailed more will a XXXX. second quarter we discussion for quarter of company's the and guidance and present

there be our Following for questions. will comments, an opportunity

remind between and otherwise and detailed me expenses, Barak. which intangible that unless our respects in results and in of the of for Principles reflected over accounting The this commenting adjusted turn be press call release. for today's the to mainly from in non-GAAP assets amortization noted compensation. stock-based difference equivalent on certain as you revenue call, GAAP differ Accepted operations, will are the acquisition-related Accounting adjusted Let results we accounting Generally figures I'll now on

Barak Eilam

everyone. Thank you, Marty, and welcome,

flourish growth, total accelerate the financial an XX% in to teens We to all an by XX% well our announce key while to Cloud continues increasing are metrics. acceleration continued into year-over-year. excellent marked quarter revenue revenue pleased with

to that combination driving our story accelerating the to focused due a execution model, acceleration of license subscription to difficulty] are this cloud transitions on cloud overall Unlike years. in business. acceleration, is our revenue during consistent traditional switching simply from [technical our cloud this customers During past five in is growth

in model. digital we cloud second, in on-premise on-premise conversions the revenue cloud self-service, First, net per customer. resulting previously solutions CCaaS, existing business that in And products new annual higher our and offer did not of

cloud our a continues next acceleration total revenue of the growth expect our our share we revenue, in becoming and larger will the of continue is that the revenue to rapid few As growth experience total years. over

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we and in the CX our assets, now digital a put clear organizations the of self-service. and as of in us in market we take front these With digital platform lead major worldwide hands opportunity have

large very driving which Now, to are the and success. transformation, quarterly are enterprise in analytics results the Digital that a key switch reported to international in AI gears, metrics market, we strong board. pillars strong business across tell the and our our and growth

with and Many government of are being meet and these They First, ACV retailer a digital deal digital many market. large and one enterprise overall based one seats. large we an that almost our This a the testament are XX% where signed cloud-based improvement seamless breadth digital consumers. seven-digit the a number CXone and the replacements systems our digital largest CXone us a one and home included success the to the gen broadband and chains, in are largest increase European revenue of the software and XX% increased health are of depth health brings large insurance company. retailer. A company per providers strength of company, deals. of quarterly included in incumbent a by large state financial sold QX the company, deals also the where multiple the in competitive hotel to providers ACV in differentiation deal Moreover, very deal. demand digital And more seven-digit payments well-known CXone large company, market me enterprise trend gather in of deals world's UK. deal QX. more with digital care among cannot clothing integration all a and This examples our large included that digital the that enterprises leadership we agency, today's a well-known being competitive well-known included CXone in saw a witnessing large increasing is to seven an agile as each deals enables services as A total legacy of of seat in applications well few of others. enterprises

including QX, online in our they provider financial a AI market-leading do. The leading accelerated our provider Analytics of the we are strength insurance. crime insurance large market-based management Analytics very of areas almost AI and example, and multiple for compliance deals outsourcer, institutions. and with an lodging We are deals In signed deals marketplace also a included eight-digit very business as a AI online life broadband deal One three we two very driving deals. large key for enlighten NICE health with large provider, into cycle and and everything business vehicle are company including software. and to financial growth seven-digit at solution. also injected a large

Another mentioned is international. key I area

seeing our presence. in well our bookings the impact continued have as a quarter. global expand And we're as international to results doubled through as in ecosystem, going the to partner positive our go-to-market local We

go number the outside size. In and in of addition, U.S. to number rapidly the deals continued of

telecom and For insurance in large deal and a very included on with strong In an Bank, one Australian with company. a a large energy banks seven-digit company very quarter was with example, QX Japanese of deal signed international a European a a summary, deals large fronts. U.K.-based all seven-digit the broker Germany. deal We seven-digit largest

the impact revenue We to is growth. cloud witness the total revenue are our business half representing which of of now acceleration beginning than of driving our more

by competitors. a are high end domain is Our in we offering expertise. of driven reflects leadership today. in performance market customer solid cloud execution widening experience And strengths most the strong and we our NICE the platform This our gap market increasing the being where unmatched at financial CXone, in the and digital believe complete GAAP and the between

that ahead first the in cloud innings to We are market excited the of for XX% its only self-service and of continuing us. of barely and With converted has opportunities the digital, transformation.

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Beth Gaspich

day to and Thank and year. everyone. for quarter results pleased of Barak quarter of analysis outlook our good for third financial provide full the our you, the the am and XXXX second business I and performance provide

$X quarter to of with growth financial impressive gross results our efficiency Total driven of the last of revenue share margin and scalability to revenue in cloud period annual year. of business. total growth the revenue relative a again and stood Total in to total $XXX of further cloud cloud remaining the $XXX top-line, run increase the in rate cloud second our testament million of the at excellent We revenue represented QX the record in revenue and second than for with which Our reached continues which billion. revenue million were quarter XX% of Product of quarter by increase services XX% XX% the year-over-year was revenue XX% improvement overall XX% exited in compared a revenue revenue total its on represented cloud same and a more is an revenue revenue.

uplift continue the existing in Our cloud annual to cloud conversion add convert penetrate which contract business a the on-premise in value. expected logos as further typically in is results thrive market, to new and to significant the customers to we continue

Our of quarter in XX% to compared last the revenue increased revenue recurring year. to total XX%

digital Our and in all revenue primarily by the cloud segments market being with of is market shifting to driven self-service. CXone momentum

QX in CXone digital large and is new SmartReach, our and still both which Our Americas in key represented primary deals today year-over-year. significant The market, Expert of total quarter. some XX% the XX% winning were CXone solutions, grew enterprise region of the in which revenue

and represented more to grew total QX. traction XX% growth We XX% are growth market international continuing in We our revenue of as driving EMEA, our represented reported the which we with X% international see in further revenue very year-over-year. our of strong partners. are in total APAC

same revenue million the which business financial of second our $XX an QX, which represented breakdown. Customer increase to XX% $XXX the and year. quarter, the our increase quarter, of total revenues engagement last totaled last in year an was XX% of compared quarter unit million Moving crime QX In our for represented XX% from compliance, X% were for total revenues revenue. and second to

to Our second $XXX compared the quarter to totaling XX%, a gross for growth second record profit million quarter the year-over-year accelerated of in million XXXX. $XXX

the QX, last and XX% totaled and first compared For margin $XXX at reached quarter And cash margin record June to margin We increase an last in XX.X% Total attributed investments increase over totaled our of another income XX% last increase like for represented in $XXX cloud in a million to QX in of of was in XXX million gross per debt strong $XX increased cash $X,XXX,XXX. XX% to totaled of gross $XXX last year. XXXX. QX basis XX, mainly compared experienced to cash Net of QX year. cloud by million, margin, operating total Earnings increase Gross compared was gross year. XX.X% second the of which QX.Operating operating our share totaled flow which increased points end to year-over-year profit time, XXXX net million. to quarter compared XX.X% XX% in year. $X.XX, $XXX in the an to XX% of The profit. the gross

flow acquisitions with balance sheet remarks strategic my cash and to digital healthy our capital generation plans. continue to I growth are with flexibility consistent and capitalize that the us strong on with guidance. will allocation provide conclude Our strategy

of quarter third the For XXXX.

revenue We to range total the $XXX to million. expect be of in $XXX million

diluted to in share third $X.XX to $X.XX. range expect of XXXX fully be quarter earnings We the per a

$X.XXX increasing For the our billion the of of are total for range billion. revenue range full $X.XXX year be to the XXXX to we guidance in

range We our are Operator? fully of to the to the a per for earnings $X.XX for $X.XX. range to now of the full-year over share XXXX also guidance increasing the operator will turn in diluted I call questions. be

Operator

Our first go question comes from ahead. from Please Jefferies. Samana Instructions] Samad [Operator

Samad Samana

size It’s about quarter. this you're think Good more curious enterprises How and talked cloud? their efforts great seeing? morning it the thanks to and for questions. you and as more the kick you do about expanding about and results. your attach like maybe you you’ve the a if taking is to success digital off that lot feels the see shift we'll frequently? as feel maybe my top up-market larger - that far more digital Barak, as I'm the average And making cloud that there it deal accelerate And

Barak Eilam

Yes, thanks question. the for

expansion what organically ago. both customers, well earlier of see So we as strategy executing couple through acquisition. last remarks, or actually quarters our to put is we've I and years as And in my few this as as the both that our digital in shift view from what been said a we we

say that we in CCaaS. the First, believe would leadership I that

stepped and to If we our with converged a have you the that's believe by want we future digital, remember, see. what into what when that. CCaaS, CCaaS, And became analytics is we today, from leader hear they converging WEM CXone customers, that's with that with we and that

the potential, In it's enormous. terms of

we of agents is on to year get is It today consumers and actually that average. its way $XX,XXX the digital think about up The level. it to if the and technology can CCaaS of agent that of think agents. supporting and is beauty for can cost and done eliminate you that it self-service the connecting If about right, center it, an contact need a a

million are by into versus the self-service, to reducing first-gen suite market. point you industry, of of moving generation the there – full in talked this to time calculate CCaaS start when about the of we’ll, can agents. CX organization we see we So, a I say need get do And the in that, digital XX digital and solutions. a can this to next easily full offering combining you CX that and potential Needless by to order the wanting the of digital the that notion and number

cloudification digital all us So, market it see those high together the with for both the if I of that what we end and spoke is about, increases at that market. take that of that, are quite the, you to definitely of the deals accelerate. believe volunteer in we CX dramatically the as to will starting continue our And trend see

Samad Samana

FiveX there's with that it Great. have to And as announcing together. I their Zoom huge industry a maybe the obviously then follow-up, merge ask and - in news to planned just

curious implications as or see and what NICE’s you what how think are just that you think positioning you the a of potentially an for as opportunity in maybe the I'm what out on the So about - market coming consequence? NICE

Barak Eilam

one first, say market time transaction potential and what players is engagement the said step this into from that in - a don't the say so acquire is markets particular we the that large TAM. one I'll all we Yes, do insight big we Usually, that thing can don't have not huge. customer

future the well, particular the the TAM, others this future market. current as of I the TAM think that transaction of represent - and as potential

one point that. more to proof that's So

the and being AI collaboration market, it’s actually, taken leader Gartner if into the way video order in market collaboration and in you’d to feature-rich to market. lot lesson FiveX this complicated, that highly a many by that back I a It's The aren't this domain into market, from And them offer see video the the of The or this is there from said in the assets. need that I and were into we like, we direction build player on Zoom of In months organically have full late. actually out develop is that second, get their order giving MQ desire today. in building competitive market problem. the to is market build workforce only and someone call, and success particular And transaction this those last the to a the were too the learned That’s and a to is for think win don't size XX expertise. engagement, CCaaS, I anyone believe and is for not going us. digital is in CX that in buy one, requires solved market, don't to engagement what good see that where be analytics this this customer customers players too self-service. this and to any news last offering includes what a how we it and digital

that So quite to the well do have many other a with frankly we solid partners we're we our and disruption with them offering have. we together. believe upcoming And position as very happy both great business we as

Samad Samana

for just then it Beth over. Great, then and maybe one and turn you I'll

Just got total in comps know given revenue you maybe revenue term the staying even trends? thing the maybe revenue the the I cloud - XX% can get I we was just above about know growth you growth. revenue company shorter tougher. of guidance, understand longer is how cloud as but guidance, really linearity term cloud short-term just the well about think should help impressive, Can I us just sure

Beth Gaspich

question Samad. thanks the for Yes,

really seen a been delivering business. you've we've as So, cloud in growth healthy consistently our

cloud. growth. is that if that see next But cloud guidance be us in remain year in which the don't comfortable good I of in with that XX% already reiterate confidence over so confident the a obviously the respect specific shared on as a revenue And looking we're We And half looking you we're higher. what the respect you gave few current to we'll you know or visibility of excessive past forward. with optimistic look on sight in years line know can place the the forward. of to give the we've really XX% in growth we year Looking our first we’ll

Operator

ahead. Our Walravens Securities. next Please go JMP question comes from from Pat

Pat Walravens

the industry Hey, congratulations. is of changing to and the back Barak, this sort question. you, - Thank how

of it the important Talkdesk communications the then think part call question. sort riding I a global infrastructure, have one how FiveX top of that the so with that's is two-part would on of on directly I idea top be And Part to of also and I have the riding of center guess, people Zoom? Twilio. appeal is say software

love to also hear your Talkdesk and So, on on I’d important your whether then that's or thoughts really competitively? theme thoughts and that not

Barak Eilam

the with driven So, are our with communication, sure for question. unified video not a collaboration. of and thanks or for Most not deals combined

haven't any different with a seen It’s We between CCaaS. buyer collaboration traction and that. video

lot the and there in The of talked other in about it thing I've that quarters is end that a past while some that behavior market. we're of the seeing is lower

you usually cycle much that digital If customers you cycle from separately. I've taken is complicated, very higher-end before. like, with sales the would fact up not more markets, customers that in that go are And in looking for the a complicated, CX very from offering, that everything offering are of the decisions expanding also, are because type CCaaS significant. sales is the the market, mentioned transformation to these needs a is because feature-rich It's full about regard if the

and not seek especially of of that market. too don't the end to higher the we much So,

Specifically about about I think, right? you Talkdesk, asked

Pat Walravens

Right.

Barak Eilam

see a lot. don’t them We

into a leader completeness, suite. you'd the we like, of and we have of a in more in it's for things lower The don't are player I see. as one they of that electing more more far we They organically a position think they we the are the our market competitor know private as all market. competing - company done much They sure. if course of and we market at so are of But are are don't both the smaller end the - a know. they not

Operator

go comes ahead. question next Tavy Rosner Barclays. Our Please from from

Tavy Rosner

about bit Thanks cloud. a for taking my speak to I questions. the the little transition to just want

customer the that get I as - know, the of coming a you a So, full logos? revenues from you proportion assuming And Nice can the of, sells as to of would customer transitioning what kind I'm be, of your if proportion a sense entire existing question to I up new opposed guess cloud first and on-prem do get we to listen, convert CXOne CXOne, try to saying, curious push-back no at you customers happy sorry, curious from get perspective. in I it's are your the them to our solution, working. base future. No know with ever need on-prem guess, from I'm near and guess need new part you for on just just - least

Barak Eilam

Sure.

remember for believe If we're at cloud company remarks, story its and reclassification unique revenue. talked and base I the the - you opening doing quite of the is my what it's basically that about our not company it in converting and a to I the reclassing the takes cloudification customer just

seen continue in the to few transformation see and dynamics. pronounced by you've Our is last last two and a you derived more it it the cloud in separate quarters years few way in

new solutions and stepping us market a the full the now previously Digital that on-premise. did CXone cloud market is we First with offer not in the market, the all with of CX CCaaS into platform

customers to the and complete that start of there just your that do double, but run uplift least to existing continue converting the managed last business. do in conversion still runway even accelerating the for share are of most base for to the same new both on-prem. the back question, time by from we that if customers. the that we and that the is way, we to which get such new not when tap it's that us existing multiple business annual sell more because that us for long pretty to rate question, a doubling. whether A, means as like-for-like predominant suite, And is in customer have is larger than the that we a your the and at the part just parts have. cases still we case It a well push the full the we in revenue So at major the much revenue the And CXone many to a from will revenue as larger And upside see any situation, of of is

but I mainly market ourself the is most of, in the to the cloud will customers you and when many on cases, if about as and It's we'll question longer they're going no to today how not a the say the leader for find a a moderate that as lot sequence vendor move that and customers table. our a see are have customers at for to and customers of large a it a the the of doing variety we us a consultant advisor as just many in as and reasons. of So in of those end market higher way. trusted know

of start expand then starting customers that. beginning that of Digital of of We solution Analytics will actually a one have hinted that see they can that gain They are confident starting and thing the with at last are with with or in we solutions. in as you different will and CXone. or beauty I from concerns have set the set say think some initial I offering lot that as just the of installed some the they expanding just they and we that with all CXone a part customer have it

in see quarters, in strong last very we So beachheads those the lot which for create future. in a few a expansion us opportunities multiple of the we accounts believe,

Operator

at Davidson. Jaluria question go Our comes ahead. DA from Please next Rishi

Rishi Jaluria

This is RBC. my actually questions. from taking Rishi for Thanks Jaluria

with of I the UCaaS up. partner there UCaaS know I brought to out that back Tavy white First wanted label you some CXone. go and that the vendors had CCaaS on question to

a see and I but can the got as consider time you own do any CCaas, to would little right there, market you partnership, are for over guess, I've UCaaS And for what need So a solution? happen some maybe then not evidence center of having same the buying talk bit you in philosophically, convergence follow-up. this having of the your strategy or to UCaaS the

Barak Eilam

to our are Ring gives First It very, few RingCentral have we and variety one in and of for that. time, UCaaS into us what but will very them we I into go us to is of been of us definitely this investments At with opportunity what happy in to us of not leader about same all, doing the it's the partnerships companies rather collaboration extremely doing these CCaaS of go-to-market XX direction our the before, registered and spoke like we and and allowing both to offering we and the expanding being to continue expand others have right is one Digital. a and UCaaS we've in is someone with do to parts on think that do partnerships. a than course the ecosystem. CCaaS wants the also customers are to months. in and focusing that expansion leaders be video from video in not full last and and collaboration, great to well lot that's

could right in customers from organically run. us. in and is is preferences consumer I is sell what that what strategy, had time are the market customer acquisition use taking this our engagement customer right to also to That's and the long being probably and execute service the for the players our the This not And for strategy themselves that both need. out and market. think that for right this investments the

Rishi Jaluria

I FCC on the bit you're what as traction well then the helpful. can of cloud as Okay. talk both migration's you maybe sort of customers? on new momentum drill Great side And business, about cloud that's a seeing there Thanks. to little wanted just or with the down side

Barak Eilam

Sure.

specifically earlier, we’re with deals you've this eight-digit three happy business. for heard from myself spoke the Financial way business. both the about with Compliance So very are very and large what we as Crime by seeing and Beth the I

of Crime happy very Compliance we're And what One is on-premise the in to very to is or we and the starting division history of starting see that cloud. that historically so largest business, the see the a business, business shift them the Financial to a see with this are we momentum we're in there.

of acquisition is parts called is but definitely following we two mid-market We XXX% And have the the Analytics, see to the of yet the platform see part revenue, Guardian the it divided booking. cloud. it's in have into market now Xceed in of market. the the One we it

right we after mid-market, because that's us, it's exactly these we with upside the go-to-market what doing are product pure days For and have go to did nor not a Xceed. the the

it. of you we Financial And on-prem and is growth great But versus with in of now a business, see I we ago see four one see if would acceleration the them the there are it's them there to starting its business Crime It terms also are is terms about that's And the the similar the opportunity about and to customers evolution more in starting business, to and area we customer of a this I rest like, where it's cloudification in process, asking was accelerate business multiple conversion its to it's cloud. and ability in would cloud. the moving we But that. dynamic cloudification years there. this the cycle. behind meaning from also the cloud just to of customer talked So engagement its in more that see we Compliance. starting business engagement And and for for opportunity. ready are the say are great behind And

Operator

from from Meta Marshall Morgan next ahead. Stanley. comes Our Please go question

Dave Nwokonko

Dave is Nwokonko Meta Marshall. on This for

questions. questions from for two thank end our So you and the

can think you do So can - really cloud? cloud current you without words, more growth move as towards First, you XX% hurdles meaningful be other think to will what that you. as second, a whether support what are seeing channel as complexity, customers getting larger to how that be targets security, digital path, in down scope growth? as transition, And Thank the larger transformation maintain the rate to making far start them of transformation? customers about biggest cloud you

Barak Eilam

Sure.

first So - connected. start question two with let the the I’ll me obviously are

ask you the So you the of cloud hurdle digital about ask also and the is shift to about in customers move context what transformation. to to cloud of

It's a them basically the of which not you the that and to the of cloud, those about that hosted went of cloud solution. legacy public gain enterprises on benefits security, the they needless all moved on that other say solution, cloud gain gain provider and rich, to to to have pace security And standard so they real trust few need solution actually in disappeared. I've and you're that, years order move few innovation, features customers privacy the there they security less feature for reasons. customers those the even question course innovation, these less So wave find a ago, and of don't to which And actually capabilities. right. called all natively innovation. large the And to real economics It that full enterprises that legacy my have enterprises and cloud is the including believe, didn't ourselves they years was we And things to thing. like large forth. move sold other the very is latency the you better answer solution built that. And cloud concerns cloud them unless Those and cycles evolving. to cloud the cloud or et about cloud of asked fast of of leader. about talked move ownership only see pace support And market large a But they is is different I of the and that of so a times and solution and facing and all don't I'm the cloud want we that cetera. all and and as the this cloud, “solution” A numerous all being real understand benefit a we and to provider to the it thought the all native in the last realization is the keeps of in about and

for mainly I hurdle those today terms the them support fast. and the very, hurdles is disappear we the And So that. depreciations starting past think economics biggest of are transition, managing about very And in justifying like to things that meet least without years customers in me part question, large move. of cloud few confident the can in second growth the can and to your next we the this at XX% brings how we that sustain And enterprises.

that needless adoption on large that the believe of how a enterprises for it to enterprises So large We sudden I is a of We get would that. need. equation realization the post-COVID, part all are don't it to cloud that contrary, reason accelerated a of there stop say, we see the happening. of think say to we

of have don't that type concern. we So,

Operator

question go next Horan comes ahead. Our from from Oppenheimer. Please Tim

Tim Horan

anyway. your is a of for lot, experience - out you has And cloud-based a Thanks. at a There Thanks what you bit guys. terrible market. But basis think seems what share like market lot about think to point. product. incremental an percentage there be not companies of little lot been maybe have however, digital or little more a talk interaction? seems this the this the my is It market about interaction on maybe of you of flow a Can good share products just has digital in bit a

Barak Eilam

Yes, team. the it's noise a is and and try good create a in of digital, lot what is observation view here. to over clarity There me let of help some

channels through some synchronize if an to a the or or or technology, are so have on digital e-mail, needless and Whether forth. all say, and serve and consumers. capability so to market, channels. chat, will enterprises all solution or we But think already enterprises about you be a enterprise So, or most that customers consumers

it's have data. solutions as not for here very both, family and in we that secret like have which it with gen communicate CXone, from the among capabilities a They after in sauce, over full it's with this massive digital today. don't all of they from CXone providers. reason And allows the the those that the XX several our and the they here depth differently. functionality many should which experience. investment is with that address you very happy the is the friends joint not with is experience in the just your of one at the The some keep to connect understanding on a there And as have might that same is actually service don't reasons, And if we is ago family. our that from narrow were and that type What same breadth well do you our you get as exactly R&D adopted connectivity done of to friends years is experience We each X while the the providers get by get center. are and expanded platform, months, area get technological don't have channel adopted customers last we in still your the the saying to solution, thing we XX, to channels. look I They a the we have Dell contact type as being point native capabilities, acquisitions, and also the and would way. the very well we need have solution making different

enable And actually start they we enterprises the built, where customers with today that understand, interact what the difference. which We what this see we missing in evidence the make self-service us as deals for, data legacy of were as are that is exactly of amount well XX% And data we big in said, the we train and have that's And they work. decades of an what CX feeding That's our with mastered have capabilities. QX two is kind for digital we data digital. we of expertise. what And of is an or that makes is a enormous is the we looking to of is, all digital they domain actually There solutions. that works. to Gen approach have of self-service, when large some basics as the this had self-service One the this the

Tim Horan

that Do products kind to pretty and the these that close an it's have this created. incredible functionality you So, accomplishment, you point? think is anyone of you've at features

Barak Eilam

between here and the fragmented purpose highly I'm expertise. on capabilities And market. a separating and domain data It's

digital have it's might either don't something connectivity progress the CXone that we as but Thanks as can that or that we a we capabilities, well in do actually continue there very it's serve engagement have something into like players differentiation not they customer And the the find capability to have. I’ve to the might CX. to three have data or You that being believe business. mentioned which will as distribution decades the significant

Operator

Daniel from from Our Please Instructions] Bank Bartus ahead. go [Operator next of is America. question

Daniel Bartus

just compliance business? is should Thanks financial are the at to the customer with a or about And you questions. separated? pretty for more What high and having ask to along engagement the the separate taking level. already of I first these wanted business begin crime benefit this they

Barak Eilam

among AI the we mentioned, executive So evolution two very actually about with two the of done and are and the going it's business, the one greatest both years have what business and we’re we the services, banking has a of team company. the business, the digital financial businesses I crime in compliance benefits and what three we doing, analytics. is very an as we describe similar journey it’s businesses. familiar in how ton the and and engagement have what do we We're to in you cloudification. others, the if notion transformed have opportunity And customer think what and these digital very, last whole the financial that given to disruption This in of

quite the of are one platform nicely. helping allows lot with and of sharing a Actually, CXone accelerate are which thing. fundamental the great that's X-Sight us lot a we So, us to

second services. while is The that customer engagement business just the is thing not for financial

customer our lastly, are of multiple within not or use contact and cases to where fraud in have to of unique provide have. much are providing of other terms improve center the And used enjoy relationships fraud information engagement. the some very detection many provider the the they capabilities in with that being do both vertical services anti-fraud, in platform We and is a strong large brand. financial one very there the in banks, vendor And many

Daniel Bartus

think maybe I to for of accelerate just language you quick year guys expect keep then, Barak. the a hearing Okay, And Thanks forward. year. the And Beth, for implies for entertaining XX.X% going that, full this guidance clarification the growth that great. I

for too So, much? this XX% a XXXX, growth is am little reading and - I it more right assume Thanks. into am or to XXXX I or

Beth Gaspich

question. the for you thank Yes,

to this our and growth as we've the a this guidance correct changing prior the revised a the cloud as XXXX. increased with have our basis. given we've with mix more year of more in And predictability kind total XX% XX% we cloud high revenue. quarter that and full-year on centric visibility go-forward we're That and that for midpoint that combined reaching So, well health become seen of guidance seeing the you're expected in and cloud really years increasing actually recently of course, just well our at as of with business our of

continue. expect those We trends to see

short that means in so And yes.

annually As something we revenue revenue look of on the we growth annual to we in the for be top that that see line expect future continue total total growth our to as do accelerate. will well that

Operator

comes Our next go from ahead. from Please question Tyler Citi. Radke

Tyler Radke

for seen hybrid back of if these strengthened kind catalyst at back reopen in wanted I you person. lot full curious to a the just investments, of a getting workforce trends looking in the - the Do But out that's accelerating around solutions? start think with things centers a were as as return - level go to as a obviously center think play work people where about many call in you kind up as in the of just that that ways to higher call of question you've just you've catalyst kind seen in-person? years remote in

Barak Eilam

the the et solution for to this it's it. of remind of contact people move those that year actually but kind we you from almost work went virtually home. had the as it's question and lot to for Yes accelerated, of them a to contact home continues move, XX great from evolve cetera all where offices. last that of cloud, was centers virtual work kind don't adoption. the about very not agility together shock of - to million hard that a the from and they first it actually know, those If March of We're enable overnight centers and talking it’s have a And to which shift that realizing like

those there offices of part. need is to or a hybrid. full uncertainty we've be indeed, So that sort then whether of seeing of organizations, kind that it flexible because be more to since lot lot in was the been first a future the the And will they a the accelerating comeback understanding

to So more with your have ability allow if flexibility how experience, and cost, agility started technology, the generation. you work you especially anywhere. younger monitor it requires do you anywhere the that to how But raise work do from then do starting the from and thing work for the our basic of the you how employees other the to monitor

in them offering about us at from with exactly of years it's experience and to type home we the to the Hopefully, the stay same things regardless so down working. office accelerated more back forth believe for accelerating of the will suggested. level From on customers, to order So is with with and road it now. of point capabilities And basically of significantly analytical many say, allows our above to how the and is our conversation between need. full hybrid. having for the and long coverage long how It's And happen as support us. cloud, few in not COVID, needless all it’s our supporting happening to they're this time quite you to but and stay monitor we will felt this move here this it's that customers expand

Tyler Radke

raise pieces I've coming in earnings board, how half in could further trying outlook? that the across see strong this to any to covered like little of moving a breakout mainly apologies guidance your popping And raise and a Beth think a been was follow-up type you detail unpack and of revenue few a to us, kind from bit. you implied the in if this It morning, just but just if ask second the calls cloud for are I give but wanted should pretty looked that about if around

Beth Gaspich

thanks sure for question. Yes, the

again. of it talked happy I'm think little bit a - to just but I emphasize I've about to kind

gives both performance on visibility $XX rates us looking back first million as to We've on half of growth the greater seen of generally, our the in into in revenue strong second bottom kind and have, top strong comes half both well. the revenue by that of I this line on of guidance quarter. for the midpoint year. course, level second forward a year the of the QX year. really the increasing think teens given we And of the strong a And of looking half confidence this the and QX of year in total terms the in we're of performance the

of really course, so, in with the and from year cloud and the our XX%. positive and feel continuing that is a And business the great revenue the continued healthy we to health CXone confidence we've mostly midpoints set specifically seen the are come targets for that that both around full teens driver is growth. we've of in And

Operator

back the would question-and-answer our to concludes over Barak conference to remarks. This now I closing session. turn for Eilam like

Barak Eilam

a Thank for Thank very today much you day. all joining us have you. and nice

Operator

Thank has concluded. now for you conference today's presentation. This attending

may You now disconnect.

NICE (NICE) 5 Aug 212021 Q2 Earnings call transcript