NICE (NICE) Q4 2024 earnings summary

Executive summary

• Achieved record FY 2024 revenue of $2.74B–$2.74B, up 15% year-over-year, with cloud revenue growing 25% to $1.98B–$2.0B.

• Q4 2024 revenue reached $722M, up 16% year-over-year, with cloud revenue at $534M, up 24%.

• Non-GAAP operating income for FY 2024 was $850M, up 21% year-over-year, and non-GAAP EPS grew 27% to $11.12.

• Cash from operations for FY 2024 was $833M, a 48% increase year-over-year; free cash flow reached $733M.

• Strong adoption of the CXone Mpower AI platform, included in 97% of large enterprise deals over $1M ARR.

Financial highlights

• Q4 2024 total revenue: $722M, up 16% year-over-year; cloud revenue: $534M, up 24% year-over-year, representing 74% of total revenue.

• Q4 2024 non-GAAP operating margin: 31.5%, up 150 bps year-over-year; annual margin: 31.1%.

• Q4 2024 non-GAAP EPS: $3.02, up 28% year-over-year; Q4 operating cash flow: $250M, up 38% year-over-year.

• Free cash flow for FY 2024 was $733M, with a free cash flow margin of 27%.

• Americas revenue grew 17% year-over-year, EMEA 11–12%, APAC 4% (declined 5% full-year).

Outlook and guidance

• FY 2025 revenue guidance: $2.918B–$2.938B (7% growth at midpoint); cloud revenue expected to grow 12%.

• FY 2025 non-GAAP EPS guidance: $12.13–$12.33 (10% growth at midpoint); operating margin expected to expand by 50 bps.

• Q1 2025 revenue guidance: $693M–$703M (6% year-over-year growth at midpoint); non-GAAP EPS: $2.78–$2.88 (10% growth at midpoint).

• Effective tax rate for 2025 expected at 19–20%.