Exhibit 99.1

NICE Reports 30% Cloud Growth for Second Quarter 2020

Strong Growth in Operating Income with Greater Than 200% Year-Over-Year

Growth in Cash Flow from Operations

Hoboken, New Jersey, August 6, 2020 - NICE (NASDAQ: NICE) today announced results for the second quarter ended June 30, 2020.

Second Quarter 2020 Financial Highlights

GAAP	Non-GAAP
Cloud revenue of $184 million, growth of 30% year-over-year	Cloud revenue of $186 million, growth of 30% year-over-year
Total revenue of $393 million, growth of 3% year-over-year	Total revenue of $395 million, growth of 4% year-over-year
Gross margin of 65.5% compared to 65.6% last year	Gross margin of 71.0% compared to 70.9% last year
Cloud gross margin of 56.2% compared to 50.3% last year	Cloud gross margin of 65.7% compared to 61.4% last year
Operating income of $56 million compared to $53 million last year, an increase of 5%	Operating income of $111 million compared to $101 million last year, an increase of 10%
Operating margin of 14.3% compared to 14.1% last year	Operating margin of 28.2% compared to 26.6% last year
Diluted EPS of $0.68 versus $0.65 last year, 5% growth year-over-year	Diluted EPS of $1.37 versus $1.25 last year, 10% growth year-over-year
Operating cash flow of $60 million compared to $18 million last year

“We are pleased to report another quarter of strong and accelerated cloud growth as cloud revenues grew 30% year-over-year, combined with a continued substantial increase in profitability,” said Barak Eilam, CEO of NICE. “The strong cloud performance demonstrates how well we are positioned, as enterprises of all sizes become intensely focused on extreme agility in a constantly changing environment.”

Mr. Eilam continued, “Our recent business performance highlights that: 1) our solutions are mission critical now more than ever, 2) our cloud platforms are essential to enable a flexible work-from-home mode of operation, and 3) cloud and digital transformation, which are at the core of our business, are now dramatically accelerating in the enterprise market.”

GAAP Financial Highlights for the Second Quarter Ended June 30:

Revenues: Second quarter 2020 total revenues increased 3.4% to $393.2 million compared to $380.4 million for the second quarter of 2019.

Gross Profit: Second quarter 2020 gross profit increased to $257.4 million from $249.6 million. Second quarter 2020 gross margin was 65.5% compared to 65.6% for the second quarter of 2019.

Operating Income: Second quarter 2020 operating income and operating margin increased to $56.1 million and 14.3%, respectively, compared to $53.5 million and 14.1%, respectively, for the second quarter of 2019.

Net Income: Second quarter 2020 net income and net income margin increased to $44.6 million and 11.3%, respectively, compared to $42.1 million and 11.1%, respectively, for the second quarter of 2019.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the second quarter of 2020 increased 4.6% to $0.68, compared to $0.65 in the second quarter of 2019.

Operating Cash Flow and Cash Balance: Second quarter 2020 operating cash flow was $59.6 million. In the second quarter $3.5 million was used for share repurchases. As of June 30, 2020, total cash and cash equivalents, short term investments were $1,103.0 million, and total debt was $469.6 million.

Non-GAAP Financial Highlights for the Second Quarter Ended June 30:

Revenues: Second quarter 2020 non-GAAP total revenues increased to $395.1 million, up 3.6% from $381.4 million for the second quarter of 2019.

Gross Profit: Second quarter 2020 non-GAAP gross profit and gross margin increased to $280.5 million and 71.0%, respectively, from $270.5 million and 70.9%, respectively for the second quarter of 2019.

Operating Income: Second quarter 2020 non-GAAP operating income and non-GAAP operating margin increased to $111.4 million and 28.2%, respectively, from $101.3 million and 26.6%, respectively, for the second quarter of 2019.

Net Income: Second quarter 2020 non-GAAP net income and non-GAAP net income margin increased to $89.9 million and 22.7%, respectively, from $80.9 million and 21.2%, respectively, for the second quarter of 2019.

Fully Diluted Earnings Per Share: Second quarter 2020 non-GAAP fully diluted earnings per share increased 9.6% to $1.37, compared to $1.25 for the second quarter of 2019.

Third Quarter 2020 Guidance:

Third quarter 2020 Non-GAAP total revenues are expected to be in a range of $403 million to $413 million. Third quarter 2020 Non-GAAP fully diluted earnings per share are expected to be in a range of $1.33 to $1.43.

Quarterly Results Conference Call

NICE management will host its earnings conference call today August 6^th, 2020 at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. To participate in the call, please dial into the following numbers: United States 1-866-804-8688 or +1-718-354-1175, International +44(0)1296-480-100, United Kingdom 0-800-783-0906, Israel 1-809-344-364. The Passcode is 608 059 84. Additional access numbers can be found at http://www.btconferencing.com/globalaccess/?bid=54_attended. The call will be webcast live on the Company’s website at https://www.nice.com/investor-relations/upcoming-event. An online replay will also be available approximately two hours following the call. A telephone replay of the call will be available for 7 days after the live broadcast and may be accessed by dialing: United States 1-877-482-6144, International +44(0)20-7136-9233, United Kingdom

0-800-032-9687. The Passcode for the replay is 973 031 96.

Non-GAAP financial measures are included in this press release. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude share-based compensation, amortization of acquired intangible assets, acquisition related expenses, amortization of discount on long term debt and the tax effect of the Non-GAAP adjustments. Business combination accounting rules require the recognition of a legal performance obligation related to a revenue arrangement of an acquired entity as a liability. The amount assigned to such liability should be based on its fair value at the date of acquisition. The Non-GAAP adjustment for a revenue arrangement is intended to reflect the full amount of such revenue. The Company believes that these Non-GAAP financial measures, used in conjunction with the corresponding GAAP measures, provide investors with useful supplemental information about the financial performance of our business. We believe Non-GAAP financial measures are useful to investors as a measure of the ongoing performance of our business. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business and to make financial, strategic and operating decisions. These Non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. These Non-GAAP financial measures may differ materially from the Non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income. The Company provides guidance only on a Non-GAAP basis. A reconciliation of guidance from a GAAP to Non-GAAP basis is not available due to the unpredictability and uncertainty associated with future events that would be reported in GAAP results and would require adjustments between GAAP and Non-GAAP financial measures, including the impact of future possible business acquisitions. Accordingly, a reconciliation of the guidance based on Non-GAAP financial measures to corresponding GAAP financial measures for future periods is not available without unreasonable effort.

About NICE

NICE (Nasdaq: NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Investors

Marty Cohen, +1 551 256 5354, ir@nice.com, ET

Yisca Erez, +972 9 775-3798, ir@nice.com, CET

Media Contact

Chris Irwin-Dudek, +1 (551) 256-5140, Chris.Irwin-Dudek@nice.com

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NICE' marks, please see: http://www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release 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,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company’s management regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include guidance regarding the Company’s revenue and earnings and the growth of our cloud business.

Forward looking statements are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with changes in economic and business conditions, competition, successful execution of the Company’s growth strategy, success and growth of the Company’s cloud Software-as-a-Service business, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners, rapidly changing technology, cyber security attacks or other security breaches against the Company, privacy concerns and legislation impacting the Company’s business, changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). In addition, COVID-19 is contributing to a general slowdown in the global economy and may affect the Company’s business, results of operations, financial condition and our future strategic plans. At this time, the extent to which the COVID-19 may impact the Company’s financial condition or results of operations is uncertain. Furthermore, due to our subscription based business model, the effect of the COVID-19 may not be fully reflected in our results of operations until future periods, if at all. You are encouraged to carefully review the section entitled “Risk Factors” in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this presentation speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law.

###

NICE LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands


	June 30,		December 31,
	2020		2019
	Unaudited		Audited

ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	344,098	$	228,323
Short-term investments		758,918		210,772
Trade receivables		301,951		319,622
Prepaid expenses and other current assets		132,929		116,972

Total current assets		1,537,896		875,689

LONG-TERM ASSETS:
Long-term investments		-		542,389
Property and equipment, net		142,999		141,647
Deferred tax assets		32,451		30,513
Other intangible assets, net		377,355		411,019
Operating lease right-of-use assets		100,891		106,196
Goodwill		1,428,097		1,378,418
Other long-term assets		142,219		124,034

Total long-term assets		2,224,012		2,734,216

TOTAL ASSETS	$	3,761,908	$	3,609,905

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Trade payables	$	27,731	$	30,376
Deferred revenues and advances from customers		276,772		245,792
Current maturities of operating leases		21,128		21,519
Exchangeable senior notes		255,610		251,583
Accrued expenses and other liabilities		372,132		391,685

Total current liabilities		953,373		940,955

LONG-TERM LIABILITIES:
Deferred revenues and advances from customers		29,336		26,045
Operating leases		97,333		103,490
Deferred tax liabilities		48,037		52,509
Loan		213,998		213,313
Other long-term liabilities		16,587		16,327

Total long-term liabilities		405,291		411,684

SHAREHOLDERS' EQUITY
Nice Ltd's equity		2,378,525		2,257,266
Non-controlling interests		24,719		-

Total shareholders' equity		2,403,244		2,257,266

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	3,761,908	$	3,609,905

NICE LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)

	Quarter ended					Year to date
	June 30,					June 30,
	2020			2019		2020		2019
	Unaudited			Unaudited		Unaudited		Unaudited

Revenue:
Product	$	38,257		$	62,018	$	102,865	$	132,049
Services		170,979			176,420		344,171		347,338
Cloud		183,944			141,976		356,572		278,054
Total revenue		393,180			380,414		803,608		757,441

Cost of revenue:
Product		5,173			5,651		11,277		11,532
Services		50,037			54,619		103,550		109,742
Cloud		80,523			70,495		160,991		140,541
Total cost of revenue		135,733			130,765		275,818		261,815

Gross profit		257,447			249,649		527,790		495,626

Operating expenses:
Research and development, net		53,756			46,456		106,537		93,022
Selling and marketing		97,505			94,878		197,321		196,945
General and administrative		40,398			44,029		89,511		78,743
Amortization of acquired intangible assets		9,650			10,795		19,455		21,496
Total operating expenses		201,309			196,158		412,824		390,206

Operating income		56,138			53,491		114,966		105,420

Financial and other expense/(income), net		(423	)		724		1,227		4,142

Income before tax		56,561			52,767		113,739		101,278
Taxes on income		11,956			10,709		23,020		22,156
Net income		44,605			42,058		90,719		79,122

Less: net loss attributable to non-controlling interests		182			-		266		-

Net income attributable to Nice Ltd.'s shareholders		44,787			42,058		90,985		79,122

Earnings per share:
Basic	$	0.71		$	0.68	$	1.45	$	1.28
Diluted	$	0.68		$	0.65	$	1.39	$	1.23

Weighted average shares outstanding:
Basic		62,638			62,116		62,557		61,980
Diluted		65,633			64,650		65,484		64,205

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)

	Quarter ended						Year to date
	June 30,						June 30,
	2020			2019			2020			2019
GAAP revenues	$	393,180		$	380,414		$	803,608		$	757,441
Valuation adjustment on acquired deferred product revenue		-			-			-			15
Valuation adjustment on acquired deferred services revenue		-			-			-			2
Valuation adjustment on acquired deferred cloud revenue		1,950			953			2,729			1,825
Non-GAAP revenues	$	395,130		$	381,367		$	806,337		$	759,283

GAAP cost of revenue	$	135,733		$	130,765		$	275,818		$	261,815
Amortization of acquired intangible assets on cost of product		(1,125	)		(979	)		(2,259	)		(1,849	)
Amortization of acquired intangible assets on cost of services		(1,497	)		(1,534	)		(3,019	)		(3,069	)
Amortization of acquired intangible assets on cost of cloud		(16,064	)		(15,043	)		(31,622	)		(29,848	)
Valuation adjustment on acquired deferred cost of cloud		244			632			537			1,318
Cost of product revenue adjustment (1)		(68	)		(102	)		(136	)		(207	)
Cost of services revenue adjustment (1)		(1,680	)		(2,001	)		(3,280	)		(4,145	)
Cost of cloud revenue adjustment (1,2)		(948	)		(877	)		(1,792	)		(1,784	)
Non-GAAP cost of revenue	$	114,595		$	110,861		$	234,247		$	222,231

GAAP gross profit	$	257,447		$	249,649		$	527,790		$	495,626
Gross profit adjustments		23,088			20,857			44,300			41,426
Non-GAAP gross profit	$	280,535		$	270,506		$	572,090		$	537,052

GAAP operating expenses	$	201,309		$	196,158		$	412,824		$	390,206
Research and development (1,2)		(2,373	)		(1,587	)		(4,988	)		(3,149	)
Sales and marketing (1,2)		(8,797	)		(5,798	)		(14,062	)		(11,474	)
General and administrative (1,2)		(11,340	)		(8,806	)		(24,174	)		(15,416	)
Amortization of acquired intangible assets		(9,650	)		(10,794	)		(19,455	)		(21,496	)
Valuation adjustment on acquired deferred commission		36			76			71			169
Non-GAAP operating expenses	$	169,185		$	169,249		$	350,216		$	338,840

GAAP financial and other expense/(income), net	$	(423	)	$	724		$	1,227		$	4,142
Amortization of discount on debt		(2,532	)		(2,162	)		(4,874	)		(4,470	)
Non-GAAP financial and other expense, net	$	(2,955	)	$	(1,438	)	$	(3,647	)	$	(328	)

GAAP taxes on income	$	11,956		$	10,709		$	23,020		$	22,156
Tax adjustments re non-GAAP adjustments		12,499			11,052			24,790			19,934
Non-GAAP taxes on income	$	24,455		$	21,761		$	47,810		$	42,090

GAAP net income	$	44,605		$	42,058		$	90,719		$	79,122
Valuation adjustment on acquired deferred revenue		1,950			953			2,729			1,842
Valuation adjustment on acquired deferred cost of cloud revenue		(244	)		(632	)		(537	)		(1,318	)
Amortization of acquired intangible assets		28,336			28,350			56,355			56,262
Valuation adjustment on acquired deferred commission		(36	)		(76	)		(71	)		(169	)
Share-based compensation (1)		25,206			18,328			46,851			35,332
Acquisition related expenses (2)		-			843			1,581			843
Amortization of discount on long term debt		2,532			2,162			4,874			4,470
Tax adjustments re non-GAAP adjustments		(12,499	)		(11,052	)		(24,790	)		(19,934	)
Non-GAAP net income	$	89,850		$	80,934		$	177,711		$	156,450

GAAP diluted earnings per share	$	0.68		$	0.65		$	1.39		$	1.23

Non-GAAP diluted earnings per share	$	1.37		$	1.25		$	2.71		$	2.44

Shares used in computing GAAP diluted earnings per share		65,633			64,650			65,484			64,205

Shares used in computing non-GAAP diluted earnings per share		65,633			64,650			65,484			64,205

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands

(1	)	Share-based Compensation
			Quarter ended				Year to date
			June 30,				June 30,
				2020		2019		2020		2019

		Cost of product revenue	$	68	$	102	$	136	$	207
		Cost of services revenue		1,680		2,001		3,280		4,145
		Cost of cloud revenue		948		877		1,792		1,784
		Research and development		2,373		1,582		4,988		3,144
		Sales and marketing		8,797		5,768		13,974		11,444
		General and administrative		11,340		7,998		22,681		14,608
			$	25,206	$	18,328	$	46,851	$	35,332

(2	)	Acquisition related expenses

			Quarter ended				Year to date
			June 30,				June 30,
				2020		2019		2020		2019

		Research and development	$	-	$	5	$	-	$	5
		Sales and marketing		-		30		88		30
		General and administrative		-		808		1,493		808
			$	-	$	843	$	1,581	$	843

NICE LTD. AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands

	Quarter ended						Year to date
	June 30,						June 30,
	2020			2019			2020			2019
	Unaudited			Unaudited			Unaudited			Unaudited

Operating Activities

Net income	$	44,605		$	42,058		$	90,719		$	79,122
Depreciation and amortization		45,601			43,012			89,651			84,820
Stock based compensation		25,064			18,312			46,632			35,316
Amortization of premium and discount and accrued interest on marketable securities		(3,618	)		(233	)		(2,870	)		(574	)
Deferred taxes, net		(678	)		(10,764	)		(9,870	)		(18,622	)
Changes in operating assets and liabilities:
Trade Receivables		14,134			(10,611	)		14,793			20,112
Prepaid expenses and other assets		(20,677	)		(51,949	)		(34,768	)		(72,531	)
Trade payables		(13,283	)		4,543			(805	)		3,718
Accrued expenses and other current liabilities		(33,357	)		(22,822	)		(21,460	)		9,616
Operating lease right-of-use assets, net		4,363			3,379			8,512			7,496
Deferred revenue		(415	)		5,462			38,098			58,869
Long term liabilities		-			(403	)		-			(280	)
Operating lease liabilities		(4,132	)		(3,654	)		(9,689	)		(9,159	)
Amortization of discount on long term debt		2,532			2,162			4,875			4,469
Other		(558	)		(516	)		585			(1,984	)
Net cash provided by operating activities		59,581			17,976			214,403			200,388

Investing Activities

Purchase of property and equipment		(7,823	)		(6,566	)		(17,456	)		(14,982	)
Purchase of Investments		(69,061	)		(114,834	)		(154,488	)		(306,142	)
Proceeds from Investments		78,980			93,558			164,865			170,508
Capitalization of software development costs		(9,912	)		(8,897	)		(19,199	)		(17,391	)
Payments for business and asset acquisitions, net of cash acquired		-			(25,788	)		(50,836	)		(25,788	)
Net cash used in investing activities		(7,816	)		(62,527	)		(77,114	)		(193,795	)

Financing Activities

Proceeds from issuance of shares upon exercise of share options		5,865			1,401			7,349			3,018
Purchase of treasury shares		(3,531	)		(4,615	)		(27,601	)		(14,715	)
Capital Lease payments		(15	)		(187	)		(177	)		(440	)
Net cash provided by/(used in) financing activities		2,319			(3,401	)		(20,429	)		(12,137	)

Effect of exchange rates on cash and cash equivalents		902			(433	)		(1,085	)		(244	)

Net change in cash and cash equivalents		54,986			(48,385	)		115,775			(5,788	)
Cash and cash equivalents, beginning of period	$	289,112		$	284,696		$	228,323		$	242,099

Cash and cash equivalents, end of period	$	344,098		$	236,311		$	344,098		$	236,311