NICE Reports 19% Growth in Total Revenue for the Fourth Quarter and 17% Growth for the Full Year 2021
NICE (NASDAQ: NICE) today announced results for the fourth quarter and full year ended December 31, 2021.
Fourth Quarter 2021 Financial Highlights
GAAP
Non-GAAP
Revenue of $515 million, growth of 18.6% year-over-year
Revenue of $515 million, growth of 17.6% year-over-year
Cloud revenue of $285 million, growth of 30.2% year-over-year
Cloud revenue of $285 million, growth of 28.1% year-over-year
Gross margin of 67.9% compared to 66.4% last year
Gross margin of 73.0% compared to 72.2% last year
Operating income of $65 million compared to $65 million last year
Operating income of $146 million compared to $132 million last year, growth of 10.5% year-over-year
Operating margin of 12.6% compared to 15.0% last year
Operating margin of 28.2%, compared to 30.1% last year
Diluted EPS of $0.76 versus $0.83 last year
Diluted EPS of $1.73 versus $1.61 last year, growth of 7.5%
Full Year 2021 Financial Highlights
GAAP
Non-GAAP
Revenue of $1,921 million, growth of 16.6% year-over-year
Revenue of $1,926 million, growth of 16.2% year-over-year
Cloud revenue of $1,019 million, growth of 31.0% year-over-year
Cloud revenue of $1,023 million, growth of 30.1% year-over-year
Gross margin of 67.5% compared to 65.9% last year
Gross margin of 72.6% compared to 71.3% last year
Operating income of $264 million compared to $242 million last year
Operating income of $544 million compared to $470 million last year, growth of 15.6% year-over-year
Operating margin of 13.7% compared to 14.7% last year
Operating margin of 28.2% compared to 28.4% last year
Diluted EPS of $2.98 versus $2.98 last year
Diluted EPS of $6.52 versus $5.73 last year, 13.8% growth year-over-year
“We ended 2021 on a high note and with great momentum. NICE is a fast growing, agile market leader at scale combined with blue-chip profitability,” said Barak Eilam, CEO of NICE.
Mr. Eilam continued, “Fourth quarter financial results reflected outstanding execution across the board that led to 19% growth in total revenue, double-digit growth in every region and continued strength in profitability. Fueling this growth is our continued excellent performance in the cloud. Cloud revenue increased 30% in the quarter, which propelled our annual cloud revenue over the $1 billion mark, further establishing NICE as the clear cloud leader in our industry.”
“The strong fourth quarter results echo our success throughout 2021 as we reported double-digit total revenue growth in every quarter, further drove our international expansion, gained massive scale in digital and transformed NICE from an analytics leader to an AI powerhouse with a fivefold increase in AI bookings.
“As we head into 2022 and beyond, we believe we are in the best competitive position in our history with the strategic assets firmly in place to achieve further success.”
GAAP Financial Highlights for the Fourth Quarter and Full Year Ended December 31:
Revenues: Fourth quarter 2021 total revenues increased 18.6% to $515.5 million compared to $434.6 million for the fourth quarter of 2020.
Full year 2021 total revenues increased 16.6% to $1,921.2 million compared to $1,648.0 million for the full year 2020.
Gross Profit: Fourth quarter 2021 gross profit was $350.2 million compared to $288.5 million for the fourth quarter of 2020. Fourth quarter 2021 gross margin was 67.9% compared to 66.4% for the fourth quarter of 2020.
Full year 2021 gross profit increased to $1,296.7 million compared to $1,086.1 million for the full year 2020. Full year 2020 gross margin was 67.5% compared to 65.9% for the full year 2020.
Operating Income: Fourth quarter 2021 operating income was $65.1 million compared to $65.1 million for the fourth quarter of 2020. Fourth quarter 2021 operating margin was 12.6% compared to 15.0% for the fourth quarter of 2020.
Full year 2021 operating income increased to $263.9 million compared to $242.0 million for the full year 2020. Full year 2020 operating margin was 13.7% compared to 14.7% for the full year 2020.
Net Income: Fourth quarter 2021 net income was $51.2 million compared to $55.0 million for the fourth quarter of 2020. Fourth quarter 2021 net income margin was 9.9% compared to 12.6% for the fourth quarter of 2020.
Full year 2021 net income was $199.2 million compared to $196.3 million. Full year 2021 net income margin was 10.4% compared to 11.9% for the full year 2020.
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the fourth quarter of 2021 was $0.76 compared to $0.83 in the fourth quarter of 2020.
Fully diluted earnings per share for the full year 2021 were $2.98 compared to $2.98 for the full year 2020.
Operating Cash Flow and Cash Balance: Fourth quarter 2021 operating cash flow was $112.7 million and full year operating cash flow was $461.8 million.
In the fourth quarter, $24.3 million were used for share repurchases and for the full year of 2021, $73.2 million were used for share repurchases. As of December 31, 2021, total cash and cash equivalents, short and long term investments were $1,424.8 million. Our debt, net of a hedge instrument, was 532 million dollars, resulting in net cash and investments of 893 million dollars.
Non-GAAP Financial Highlights for the Fourth Quarter and Full Year Ended December 31:
Revenues: Fourth quarter 2021 Non-GAAP total revenues increased to $515.5 million, up 17.6% from $438.4 million for the fourth quarter of 2020.
Non-GAAP total revenues for the full year 2021 increased 16.2% to $1,925.7 million compared to $1,657.1 million for the full year 2020.
Gross Profit: Fourth quarter 2021 Non-GAAP gross profit increased to $376.4 million compared to $316.7 million for the fourth quarter of 2020. Fourth quarter 2021 Non-GAAP gross margin was 73.0% compared to 72.2% for the fourth quarter of 2020.
Full year 2021 Non-GAAP gross profit increased to $1,397.6 million compared to $1,181.6 million for the full year 2020. Full year 2021 Non-GAAP gross margin was 72.6%, compared to 71.3% for full year 2020.
Operating Income: Fourth quarter 2021 Non-GAAP operating income increased to $145.6 million compared to $131.7 million for the fourth quarter of 2020. Fourth quarter 2021 Non-GAAP operating margin was 28.2% compared to 30.1% for the fourth quarter of 2020.
Full year 2021 Non-GAAP operating income increased to $543.9 million compared to $470.4 million for the full year 2020. Full year 2021 Non-GAAP operating margin was 28.2% compared to 28.4% for the full year 2020.
Net Income: Fourth quarter 2021 Non-GAAP net income increased to $116.7 million compared to $106.9 million for the fourth quarter of 2020. Non-GAAP net income margin totaled 22.6% compared to 24.4% for the fourth quarter of 2020.
Full year 2021 Non-GAAP net income increased to $436.3 million compared to $378.2 million for the full year 2020.
Full year 2021 Non-GAAP net income margin totaled 22.7% compared to 22.8% for the full year 2020.
Fully Diluted Earnings Per Share: Fourth quarter 2021 Non-GAAP fully diluted earnings per share increased 7.5% to $1.73 compared to $1.61 for the fourth quarter of 2020.
Full year 2021 Non-GAAP fully diluted earnings per share increased 13.8% to $6.52 compared to $5.73 for the full year 2020.
First Quarter and Full Year 2022 Guidance:
First Quarter 2022:
First quarter 2022 Non-GAAP total revenues are expected to be in a range of $505 million to $515 million.
First quarter 2022 Non-GAAP fully diluted earnings per share are expected to be in a range of $1.65 to $1.75.
Full Year 2022:
Full year 2022 Non-GAAP total revenues are expected to be in a range of $2,140 million to $2,160 million, representing 12% growth at the midpoint compared to full year 2021.
Full year 2022 Non-GAAP fully diluted earnings per share are expected to be in a range of $7.07 to $7.27, representing 10% growth at the midpoint compared to full year 2021.
Quarterly Results Conference Call
NICE management will host its earnings conference call today February 17th, 2022 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 1-877-407-4018 or +1-201-689-8471, United Kingdom 0-800-756-3429, Israel 1-809-406-247.
The call will be webcast live on the Company’s website at https://www.nice.com/investor-relations/upcoming-event.
Explanation of Non-GAAP measures
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 debt and loss from extinguishment of debt and the tax effect of the Non-GAAP adjustments. The Company early adopted ASU 2021-08, Business Combinations, effective January 1, 2021. The amendments in ASU 2021-08 require acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The Company applied the new guidance retrospectively to all business combinations for which the acquisition date occurred on or after January 1, 2021, therefore comparative financials were not adjusted. Through December 31, 2020 business combination accounting rules required 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 was based on its fair value at the date of acquisition. Comparative financials 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.
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, analytics and artificial intelligence 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, uncertainty related to COVID-19 and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”).
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
December 31,
December 31,
2021
2020
Unaudited
Audited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$ 378,656
$ 442,267
Short-term investments
1,046,095
1,021,613
Trade receivables
395,583
303,100
Prepaid expenses and other current assets
436,495
175,340
Total current assets
2,256,829
1,942,320
LONG-TERM ASSETS:
Property and equipment, net
145,654
137,785
Deferred tax assets
48,900
32,735
Other intangible assets, net
295,378
366,003
Operating lease right-of-use assets
85,055
97,162
Goodwill
1,606,756
1,503,252
Other long-term assets
224,445
153,660
Total long-term assets
2,406,188
2,290,597
TOTAL ASSETS
$ 4,663,017
$ 4,232,917
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables
$ 36,121
$ 33,132
Deferred revenues and advances from customers
330,459
311,851
Current maturities of operating leases
19,514
22,412
Debt
348,551
259,881
Accrued expenses and other liabilities
487,547
417,174
Total current liabilities
1,222,192
1,044,450
LONG-TERM LIABILITIES:
Deferred revenues and advances from customers
66,606
36,295
Operating leases
81,185
92,262
Deferred tax liabilities
7,429
32,109
Debt
429,267
421,337
Other long-term liabilities
18,379
17,980
Total long-term liabilities
602,866
599,983
SHAREHOLDERS' EQUITY
Nice Ltd's equity
2,825,085
2,563,910
Non-controlling interests
12,874
24,574
Total shareholders' equity
2,837,959
2,588,484
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$ 4,663,017
$ 4,232,917
NICE LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
Quarter ended
Year to date
December 31,
December 31,
2021
2020
2021
2020
Unaudited
Unaudited
Unaudited
Audited
Revenue:
Cloud
$ 285,201
$ 219,036
$ 1,018,624
$ 777,331
Services
166,376
174,003
660,083
687,532
Product
63,896
41,542
242,443
183,153
Total revenue
515,473
434,581
1,921,150
1,648,016
Cost of revenue:
Cloud
112,127
91,357
410,671
339,985
Services
47,341
49,245
191,137
199,803
Product
5,777
5,453
22,648
22,164
Total cost of revenue
165,245
146,055
624,456
561,952
Gross profit
350,228
288,526
1,296,694
1,086,064
Operating expenses:
Research and development, net
75,332
56,163
271,187
218,182
Selling and marketing
149,662
121,819
536,192
445,102
General and administrative
60,167
45,421
225,406
180,733
Total operating expenses
285,161
223,403
1,032,785
844,017
Operating income
65,067
65,123
263,909
242,047
Financial and other expense, net
7,696
2,600
23,290
4,859
Income before tax
57,371
62,523
240,619
237,188
Taxes on income
6,210
7,549
41,396
40,842
Net income
$ 51,161
$ 54,974
$ 199,223
$ 196,346
Earnings per share:
Basic
$ 0.81
$ 0.87
$ 3.15
$ 3.13
Diluted
$ 0.76
$ 0.83
$ 2.98
$ 2.98
Weighted average shares outstanding:
Basic
63,382
62,967
63,189
62,710
Diluted
67,245
66,600
66,896
65,956
NICE LTD. AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
Quarter ended
Year to date
Dec 31,
Dec 31,
2021
2020
2021
2020
Unaudited
Unaudited
Unaudited
Audited
Operating Activities
Net income
$ 51,161
$ 54,974
$ 199,223
$ 196,346
Depreciation and amortization
47,350
46,893
184,092
182,026
Stock based compensation
49,968
32,828
153,030
101,667
Amortization of premium and discount and accrued interest on marketable securities
1,855
157
11,867
(633)
Deferred taxes, net
(2,768)
(16,588)
(32,970)
(33,241)
Changes in operating assets and liabilities:
Trade Receivables
(40,149)
(5,343)
(85,778)
22,245
Prepaid expenses and other assets
(49,751)
(49,028)
(85,970)
(80,665)
Trade payables
9,254
(1,137)
(389)
4,094
Accrued expenses and other current liabilities
41,578
51,459
64,179
14,875
Operating lease right-of-use assets, net
2,758
5,241
15,075
18,167
Deferred revenue
(2,276)
48,585
30,770
63,202
Operating lease liabilities
(3,206)
(5,272)
(18,011)
(19,569)
Amortization of discount on debt
2,946
5,352
14,469
13,297
Loss in respect of extinguishment of debt
5,893
-
13,969
-
Other
(1,955)
(1,251)
(1,740)
(1,505)
Net cash provided by operating activities
112,658
166,870
461,816
480,306
Investing Activities
Purchase of property and equipment
(3,658)
(2,519)
(24,771)
(24,186)
Purchase of Investments
(40,233)
(277,038)
(322,129)
(583,115)
Proceeds from Investments
44,681
45,444
270,645
328,593
Capitalization of software development costs
(10,453)
(10,322)
(42,440)
(39,098)
Payments for business and asset acquisitions, net of cash acquired
360
-
(142,804)
(147,261)
Net cash used in investing activities
(9,303)
(244,435)
(261,499)
(465,067)
Financing Activities
Proceeds from issuance of shares upon exercise of share options
942
688
4,426
8,865
Purchase of treasury shares
(24,272)
(20,671)
(73,180)
(48,272)
Dividends paid to noncontrolling interest
(953)
-
(1,754)
-
Capital Lease payments
-
-
-
(177)
Purchase of subsidiaries shares from non-controlling interest
(14,000)
-
(14,000)
-
Proceeds from issuance of exchangeable notes
-
(48)
-
451,421
Repayment of debt
(83,993)
(215,000)
(177,308)
(215,000)
Net cash provided by/(used in) financing activities
(122,276)
(235,031)
(261,816)
196,837
Effect of exchange rates on cash and cash equivalents
(119)
1,747
(2,112)
1,868
Net change in cash and cash equivalents
(19,040)
(310,849)
(63,611)
213,944
Cash and cash equivalents, beginning of period
$ 397,696
$ 753,116
$ 442,267
$ 228,323
Cash and cash equivalents, end of period
$ 378,656
$ 442,267
$ 378,656
$ 442,267
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
December 31,
December 31,
2021
2020
2021
2020
GAAP revenues
$ 515,473
$ 434,581
$ 1,921,150
$ 1,648,016
Valuation adjustment on acquired deferred cloud revenue
-
3,679
4,372
8,866
Valuation adjustment on acquired deferred services revenue
-
149
175
230
Non-GAAP revenues
$ 515,473
$ 438,409
$ 1,925,697
$ 1,657,112
GAAP cost of revenue
$ 165,245
$ 146,055
$ 624,456
$ 561,952
Amortization of acquired intangible assets on cost of cloud
(18,796)
(18,012)
(72,015)
(66,434)
Amortization of acquired intangible assets on cost of services
(669)
(1,225)
(4,228)
(4,566)
Amortization of acquired intangible assets on cost of product
(277)
(1,073)
(1,130)
(4,467)
Valuation adjustment on acquired deferred cost of cloud
21
194
97
931
Cost of cloud revenue adjustment (1)
(2,661)
(1,457)
(7,949)
(4,058)
Cost of services revenue adjustment (1)
(3,597)
(2,593)
(10,513)
(7,550)
Cost of product revenue adjustment (1)
(185)
(131)
(595)
(336)
Non-GAAP cost of revenue
$ 139,081
$ 121,758
$ 528,123
$ 475,472
GAAP gross profit
$ 350,228
$ 288,526
$ 1,296,694
$ 1,086,064
Gross profit adjustments
26,164
28,125
100,880
95,576
Non-GAAP gross profit
$ 376,392
$ 316,651
$ 1,397,574
$ 1,181,640
GAAP operating expenses
$ 285,161
$ 223,403
$ 1,032,785
$ 844,017
Research and development (1)
(9,980)
(4,324)
(25,221)
(11,877)
Sales and marketing (1,2)
(14,495)
(10,769)
(42,021)
(30,392)
General and administrative (1,2)
(19,403)
(13,775)
(70,776)
(52,014)
Amortization of acquired intangible assets
(10,538)
(9,719)
(41,308)
(38,670)
Valuation adjustment on acquired deferred commission
54
89
215
195
Non-GAAP operating expenses
$ 230,799
$ 184,905
$ 853,674
$ 711,259
NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands (except per share amounts)
Quarter ended
Year to date
December 31,
December 31,
2021
2020
2021
2020
GAAP financial and other expense, net
$ (7,696)
$ (2,600)
$ (23,290)
$ (4,859)
Amortization of discount and loss of extinguishment on debt
8,874
5,353
28,279
13,297
Non-GAAP financial and other income, net
$ 1,178
$ 2,753
$ 4,989
$ 8,438
GAAP taxes on income
$ 6,210
$ 7,549
$ 41,396
$ 40,842
Tax adjustments re non-GAAP adjustments
23,898
20,056
71,157
59,757
Non-GAAP taxes on income
$ 30,108
$ 27,605
$ 112,553
$ 100,599
GAAP net income
$ 51,161
$ 54,974
$ 199,223
$ 196,346
Valuation adjustment on acquired deferred revenue
-
3,828
4,547
9,096
Valuation adjustment on acquired deferred cost of cloud revenue
(21)
(194)
(97)
(931)
Amortization of acquired intangible assets
30,280
30,029
118,681
114,137
Valuation adjustment on acquired deferred commission
(54)
(89)
(215)
(195)
Share-based compensation (1)
50,321
33,049
154,213
102,304
Acquisition related expenses (2)
-
-
2,862
3,923
Amortization of discount and loss of extinguishment on debt
8,874
5,353
28,279
13,297
Tax adjustments re non-GAAP adjustments
(23,898)
(20,056)
(71,157)
(59,757)
Non-GAAP net income
$ 116,663
$ 106,894
$ 436,336
$ 378,220
GAAP diluted earnings per share
$ 0.76
$ 0.83
$ 2.98
$ 2.98
Non-GAAP diluted earnings per share
$ 1.73
$ 1.61
$ 6.52
$ 5.73
Shares used in computing GAAP diluted earnings per share
67,245
66,600
66,895
65,956
Shares used in computing non-GAAP diluted earnings per share
67,245
66,600
66,895
65,956
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
December 31,
December 31,
2021
2020
2021
2020
Cost of cloud revenue
2,661
1,457
7,949
4,058
Cost of services revenue
3,597
2,593
10,513
7,550
Cost of product revenue
185
131
595
336
Research and development
9,980
4,324
25,221
11,877
Sales and marketing
14,495
10,769
42,021
30,262
General and administrative
19,403
13,775
67,914
48,221
$ 50,321
$ 33,049
$ 154,213
$ 102,304
(2)
Acquisition related expenses
Quarter ended
Year to date
December 31,
December 31,
2021
2020
2021
2020
Sales and marketing
$ -
$ -
$ -
$ 130
General and administrative
-
-
2,862
3,793
$ -
$ -
$ 2,862
$ 3,923
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