Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation (NASDAQ: NICE)
Slide 2: Disclaimer
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”, “wi
Slide 3: Create a NiCE world
Create a NiCE world Customer Financial Crime Public Safety Experience & Compliance & Justice Automating Customer Fighting Digitally Transforming Service by Orchestrating Workflows, Agents & Knowledge Financial Crime and Fraud Criminal Justice
Slide 4: $2.8B Revenue, $2.1B Cloud Revenue, $2.5B Recurring Revenue
>3,300 >8,700 R&D Professionals $2.8B Employees Total Revenue* >150 $2.1B Countries Cloud Revenue* >85% Fortune $2.5B Recurring 100 Customers Revenue* 25K THE Cloud Leader Powering AI in $755M Customers Cash from Three Large Specialized Markets Operations* *Financial figures for last 12 months ended
Slide 5: Financial Overview
FINANCIAL OVERVIEW Quarterly Results In a NiCE world technology works for you
Slide 6: Q2-25 Financial Highlights
Q2-25 Financial Highlights Q2 2025 Results Quarterly Results Increase Y/Y Total Revenue $727M 9% Cloud Revenue $541M 12% Non-GAAP Operating Income $220M 9% Non-GAAP Operating Margin 30.2% (20 bps) Non-GAAP EPS $3.01 14% 6
Slide 7: Cloud Growth Fueled by AI Adoption and Customer Expansion
Cloud Growth Fueled by AI Adoption and Customer Expansion $238M 42% 11% 111% AI and Self-Service AI and Self-Service AI and Self-Service as LTM Q2/2025 ARR ARR YoY Growth % of Total Cloud Cloud NRR Revenue 7
Slide 8: Revenue Breakdown by Business Segment
Revenue Breakdown by Business Segment Quarterly Revenue Annual Revenue $2,735M $722M $727M $453M $2,378M $690M $700M $659M $664M $2,181M $623M $125M $130M $403M $108M $601M $111M $581M $108M $109M $572M $412M $101M $103M $100M $100M $2,282M $578M $597M $592M $597M $1,974M $551M $556M $1,769M $523M $
Slide 9: Revenue Breakdown by Business Model
Revenue Breakdown by Business Model Quarterly Revenue Annual Revenue $722M $727M $2,735M $690M $700M $38M $45M $155M $659M $664M $34M $40M $623M $42M $35M $2,378M $601M $581M $32M $150M $140M $154M $572M $140M $2,181M $596M $38M $150M $40M $148M $44M $149M $236M $162M $641M $160M $159M $160M $650M $
Slide 10: Recurring Revenue as a Percent of Total Revenue
Recurring Revenue as a Percent of Total Revenue Quarterly Annual 89% 89% 89% 90% 89% 89% 87% 88% 88% 87% 85% 86% 82% 15% 15% 15% 17% 16% 17% 16% 20% 19% 20% 21% 20% 23% 73% 72% 74% 75% 74% 73% 69% 71% 64% 66% 67% 67% 59% Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 2022 2023 2024 Clou
Slide 11: Revenue Breakdown by Geographic Region – Q2 2025
Revenue Breakdown by Geographic Region – Q2 2025 84% 11% AMERICAS EMEA $610M, +9% YoY $77M, +11% YoY, up 15% in CC 5% APAC $39M, +17% YoY, up 17% in CC 11
Slide 12: Healthy Gross Margins (Non-GAAP)
Healthy Gross Margins (Non-GAAP) 70.0% 70.3% 70.4% 71.1% 69.8% 70.2% 69.7% 70.6% 69.4% 68.7% 70.0% 70.5% 70.1% Cloud GM Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 2022 2023 2024 71.8% 72.2% 73.6% 72.0% 70.6% 70.2% 71.9% 70.6% 73.5% 72.4% 70.8% 68.8% 67.2% Services GM Q1-23 Q2-23 Q3-
Slide 13: Non-GAAP Operating Expenses as a Percent of Total Revenue
Non-GAAP Operating Expenses as a Percent of Total Revenue Quarterly Annual 44.4% 43.1% 42.4% 42.3% 41.7% 41.9% 40.6% 40.3% 39.9% 40.0% 39.1% 39.4% 39.1% 7.9% 7.7% 7.1% 7.5% 7.5% 7.7% 6.2% 8.0% 7.4% 7.1% 6.6% 7.3% 7.6% 23.2% 23.1% 24.0% 21.4% 22.4% 21.5% 22.5% 20.6% 21.0% 19.2% 20.2% 20.6% 20.6% 12.2
Slide 14: Strong Operating Leverage Evident in Growing Profitability
Strong Operating Leverage Evident in Growing Profitability 40% Non-GAAP Operating Margin $221M $227M $220M $240 $214M $850M 38% $200M $202M $220 40% $900 $880 $860 $187M $840 $820 36% $184M $200 38% $704M $800 $780 $170M $760 $740 $163M $180 36% $625M $720 $700 34% 32.0% $680 $660 31.5% $160 34% $64
Slide 15: Non-GAAP Net Income and EPS Reflect NICE's Financial Strength
Non-GAAP Net Income and EPS Reflect NICE’s Financial Strength 25% YoY Growth Non-GAAP Net Income 9% YoY Growth $728M $196M $190M $187M $185M $583M $172M $174M $507M $151M $155M $136M $142M Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 2022 2023 2024 27% YoY Non-GAAP EPS 14% YoY Growth
Slide 16: Growing Cash From Operations and Free Cash Flow
Growing Cash From Operations and Free Cash Flow LTM Free Cash Flow and Margin LTM LTM $M Q2-25 Q2-24 $1,000.0 30% 28% 27% $900.0 25% 25% Operating Cash Flow 754.9 725.3 23% 25% $800.0 $769M $733M $700.0 $668M $660M $639M Capital expenditure of property and equipment (26.2) (28.6) 20% $600.0 Capitali
Slide 17: Executing on Share Repurchase Plan
Executing on Share Repurchase Plan Quarterly Annual $369M $252M $288M $146M $145M $95M $90M $86M $65M $69M $65M $42M $31M Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 2022 2023 2024 17
Slide 18: Industry Leading Strong Net Cash Position
Industry Leading Strong Net Cash Position* Quarterly Annual $1,163M $1,151M $1,172M $1,141M $1,163M $1,119M $1,107M $1,068M $1,045M $1,046M $1,029M $863M $863M 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 12/31/2022 12/31/2023 12/31/2024 * Net
Slide 19: Outlook (Non-GAAP)
Outlook* (Non-GAAP) Q3 2025 FY 2025 Revenue ($M) 722 – 732 2,918 – 2,938 Revenue Growth 5% 7% YoY at Midpoint EPS ($) 3.12 – 3.22 12.33 – 12.53 EPS Growth 10% 12% YoY at Midpoint *The outlook is provided as of August 14, 2025. There is no guarantee that the Company will change or update these figure
Slide 20: Thank You
NCE Thank You -
Slide 21: Appendix
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Slide 22: GAAP and Non-GAAP Income Statement
GAAP and Non-GAAP Income Statement USD in thousands (except EPS) Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 GAAP revenues $ 726,712 $ 664,400 $ 1,426,904 $ 1,323,709 Non-GAAP revenues $ 726,712 $ 664,400 $ 1,426,904 $ 1,323,709 GAAP cost of revenue $ 241,601 $ 224,783 $ 473,681
Slide 23: GAAP and Non-GAAP Income Statement (cont.)
GAAP and Non-GAAP Income Statement (cont.) USD in thousands (except EPS) Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 GAAP taxes on income $ (11,992) $ 28,684 $ 22,737 $ 57,759 Tax adjustments re non-GAAP adjustments 56,627 14,963 66,720 28,779 Non-GAAP taxes on income $ 44,635 $
Slide 24: GAAP and Non-GAAP Income Statement (cont.)
GAAP and Non-GAAP Income Statement (cont.) USD in thousands (1) Share-based compensation Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Cost of cloud revenue $ 3,293 $ 2,852 $ 6,471 $ 5,792 Cost of services revenue 2,241 2,617 4,696 4,995 Cost of product revenue 21 30 43 60 Researc
Slide 25: Non-GAAP EBITDA Reconciliation
Non-GAAP EBITDA Reconciliation USD in thousands Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited GAAP net income $ 187,404 $ 115,785 $ 316,694 $ 222,158 Non-GAAP adjustments: Depreciation and amortization 44,612 51,520 88,053 103,280 Share-base
Slide 26: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation USD in thousands Quarter ended Year to date June 30, June 30, 2025 2024 2025 2024 Unaudited Unaudited Unaudited Unaudited Net cash provided by operating activities $ 61,322 $ 169,668 $ 346,393 $ 424,158 Purchase of property and equipment (4,579) (6,455) (8,246) (16,976)
Slide 27: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet USD in thousands June 30, December 31, June 30, December 31, 2025 2024 2025 2024 Unaudited Audited Unaudited Audited LIABILITIES AND SHAREHOLDERS' EQUITY ASSETS CURRENT LIABILITIES: CURRENT ASSETS: Trade payables $ 81,624 $ 110,603 Cash and cash equivalents $ 535