NICE Ltd. (NICE) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 23, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to NICE conference call discussing Fourth Quarter 2022 Results. And thank you all for holding. [Operator Instructions] Following management's formal remarks, instructions will be given for the question-and-answer session. As a reminder, this conference is being recorded, February 23, 2023.

I would now like to turn the call over to Mr. Marty Cohen, Vice President, Investor Relations at NICE. Please go ahead.

Marty Cohen

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

Before we start, I would like to point out that some of the statements made on this call will constitute forward-looking statements. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, please be advised that the company's actual results could differ materially from these forward-looking statements. Additional information regarding the factors that could cause actual results or performance of the company to differ materially is contained in the section entitled Risk Factors in Item 3 of the company's 2020 Annual Report on Form 20-F as filed with the Securities and Exchange Commission on April 5, 2022.

During today's call, we will present a more detailed discussion of fourth quarter and full year 2022 results and the company's guidance for the first quarter and full year 2023. Following our comments, there will be an opportunity for questions.

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

And I will now turn the call over to Barak.

Barak Eilam

Thank you, Marty and welcome everyone.

We're happy to report another quarter of outstanding results with profitable growth momentum. 2022 was another landmark year as we crossed significant milestones highlighting our success and paving the way for future growth. We crossed $2 billion in total revenue, achieved 60% in cloud revenue as a percent of total revenue, continued to move swiftly towards the 30% plus operating margin, witnessed a massive expansion in AI adoption and had the best year ever for both new customer acquisition and new partner onboarding.