Nice Ltd (NASDAQ:NICE) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 08:30 am ET

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Nice Ltd (NASDAQ:NICE) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to the NICE conference call discussing Fourth Quarter and Full Year 2019 Results, and thank you all for your holding. All participants are present in a 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 on February 13, 2020.

I would now like to turn this call over to Mr. Marty Cohen, VP, Investor Relations at NICE. Please proceed.

Executive
Marty Cohen

Thank you, operator. With me on the call today are Barak Eilam, Chief Executive Officer; Beth Gaspich, Chief Financial Officer and Eran Liron, Executive Vice President, Marketing and Corporate Development.

Before we start, I'd 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 in the company's 2018 Annual Report on Form 20-F as filed with the Securities and Exchange Commission on April 5, 2019.

During today's call we presenting more detailed discussion of fourth quarter 2019 results and the company's guidance for the first quarter and full year 2020. 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.

We'd also like to remind you that we are hosting our Investor Day on May 12 in conjunction with our annual Interactions User Conference in Las Vegas. The special program for analysts and investors will include meetings with NICE executives, presentations from customers, product and technology sessions and access to the solutions showcase. If you haven't registered please, email us at ir@nice.com.

I'll now turn the call over to Barak.

Executive
Barak Eilam

Thank you, Marty, and welcome everyone. I'm glad to be on the call with you today. 2019 was a seminal year for NICE, a year in which we saw many key components of our strategy materialize in the market. In 2019, cloud became mainstream in the enterprise segment, including at the upper end of that market. No longer solely the realm of early adopters, most enterprises now consider cloud as the platform to transform their customer service. Furthermore, CCaaS is growing fast outside the US and CXone grew rapidly in both Europe and Asia. Our differentiated platform approach of negatively fusing omnichannel routing, WFO, analytics and AI has been widely accepted as requirements for successful experience transformation, as evidenced by the strong endorsements