"We are pleased to end the year on a high note as 2018 was a year marked by robust growth and record results," said Barak Eilam, CEO of NICE. "For the full-year 2018, we reported strong growth in cloud revenue and operating income, an increase in recurring revenue, further growth in the operating margin and a record year for cash flow generation."
Mr. Eilam continued, "We are stepping into 2019 with great momentum across all of our businesses fueled by our two market differentiating platforms - CXone for Customer Engagement and X-Sight for Financial Crime and Compliance. Our assets, investments and market leadership in cloud, analytics and artificial intelligence are driving us forward and providing tremendous future opportunities.
"As we look ahead to the next five years, our strong leadership position will allow us to quickly expand into a total addressable market of over $12 billion from $7 billion today, providing us the opportunity to far exceed the $2 billion revenue mark, to see the majority of our revenue come from the cloud and to have a greater than 30% operating margin."
NICE Reports Strong Finish to 2018 with 30% Cloud Revenue Growth for the Fourth Quarter | NICE
