NICE: NiCE World and Investor Day Highlights: MT Targets and FY26 Guidance Unchanged; Solid AI Strategy

Research evidence excerpt

NICE: NiCE World and Investor Day Highlights: MT Targets and FY26 Guidance Unchanged; Solid AI Strategy

& AI delivery acceleration, before starting to recover in FY27 Revenue Q1 Q2 Q3 Q4 2025 700.2A 726.7A 732.0A 786.5A

and returning to expansion in FY28. We continue to think investing in 2026 768.6A 766.8E 797.8E 848.5E

growth opportunities is the right move and believe that if management 2027 823.6E 835.9E 853.6E 903.1E

can achieve its stated targets, shares can work. EPS, Ops Diluted

• FY26 guidance also unchanged. Management also left its FY26 guidance 2025 2.87A 3.01A 3.18A 3.24A 2026 2.64A 2.65E 2.79E 3.01E

unchanged, which calls for: 1) total revenue growth of 8% YoY growth; 2) 2027 2.77E 2.99E 3.24E 3.44E

cloud revenue growth of 13%-15% YoY; and 3) Non-GAAP EPS of $10.98-

$11.18. AllPricedvaluesas ofin priorUSD unlesstradingotherwiseday's marketnoted.close, EST (unless otherwise noted).

• Encouraging checks. Based on our partner and customer checks, we

believe NiCE remains one of the more defensible name in the contact

center space, with customers consistently characterizing NiCE as best-

in-class with no serious consideration of alternatives. Some customers

noted that they are not yet paying for AI, indicating that monetization is

in early stages, but that they expect to pay down the line. Pricing model

uncertainty (consumption/outcome-based) was broadly recognized as a

space-wide dynamic rather than a NICE-specific risk.

• Cognigy fully integrated into CXone as a native capability. Management

highlighted that the integration creates a single platform w/

unified orchestration, context, and governance across human and AI

interactions, rather than a fragmented stack, noting that conventional

contact center architecture involves many disconnected vendors and