Welcome to our dedicated page for AudioCodes news (Ticker: AUDC), a resource for investors and traders seeking the latest updates and insights on AudioCodes stock.
AudioCodes Ltd. (NASDAQ, TASE: AUDC) is a premier provider of advanced voice networking and media processing solutions tailored for the digital workplace. The company's offerings enable enterprises and service providers to establish and manage all-IP voice networks, facilitating unified communications, contact centers, and hosted business services.
Founded in Israel, AudioCodes has grown to become a global leader in the field, serving large multinational enterprises and Tier-1 operators worldwide. The company's extensive product portfolio includes IP phones, session border controllers, voice applications, multi-service business routers, and digital and analog media gateways.
AudioCodes generates revenue through direct sales and an extensive network of sales representatives. With a significant presence in Israel, the Americas, Europe, and the Far East, the company derives a substantial portion of its revenues from the Americas segment.
Recent financial highlights include:
- Third quarter 2023 revenues of $61.6 million
- Net income of $4.3 million on a GAAP basis and $8.3 million on a Non-GAAP basis
- Strong cash flow from operations and a robust balance sheet with $102.5 million in cash and equivalents as of September 30, 2023
AudioCodes has made significant strides in the enterprise market, with Microsoft-related business growing 13% year-over-year, and the Microsoft Teams segment up by 21%. The company's AudioCodes Live managed services witnessed a remarkable 50% year-over-year growth in Annual Recurring Revenue (ARR), totaling $43 million.
Strategic initiatives include the Voca Conversational Interaction Center (CIC), which has seen a surge in customer interest since being certified for Microsoft Teams. This platform, along with other innovative solutions like SmartTAP compliance recording and Meeting Insights workflow productivity application, positions AudioCodes for future growth.
Despite global challenges, including the recent tragic events in Israel, AudioCodes has maintained operational resilience, thanks to its diverse global presence and the dedication of its employees and partners. The company continues to focus on product innovation, particularly in conversational AI, to drive sustainable top-line growth.
For more information, visit the AudioCodes website.
AudioCodes (AUDC) reported Q3 2024 results with revenues of $60.2 million, down 2.2% year-over-year. Service revenues increased 6.4% to $32.5 million, representing 53.9% of total revenues. GAAP net income was $2.7 million ($0.09 per share), while Non-GAAP net income was $4.9 million ($0.16 per share). The company's Annual Recurring Revenue (ARR) grew 40% year-over-year to $60 million. During the quarter, AudioCodes repurchased 332,709 shares for $3.6 million and paid a dividend of 18 cents per share.
AudioCodes (NASDAQ: AUDC) has expanded its Meeting Insights solution to support Zoom meetings, in addition to Microsoft Teams. This enhancement provides organizations with a unified meeting intelligence solution across UCaaS platforms, addressing data silo challenges. The solution features AI-powered meeting summaries, action item extraction, cross-platform searchable repository, and real-time transcription. Key capabilities include a unified meeting repository, cross-platform consistency, flexible integration, and enterprise-grade security features including encryption and compliance with GDPR, CPRA, and CCPA regulations. The Zoom-enabled version is immediately available for all customers.
AudioCodes (NASDAQ: AUDC) has announced its reporting date for the Third quarter 2024 financial results. The company will release its results on Wednesday, November 6, 2024, before the market opens on NASDAQ. The results will cover the quarterly period ended September 30, 2024.
A conference call to discuss the Q3 2024 results will be held on the same day at 8:30 a.m. Eastern Time, hosted by Shabtai Adlersberg, President and CEO, and Niran Baruch, CFO. Investors can participate by dialing 888-506-0062 (USA) or +1 973-528-0011 (international) or via webcast on the AudioCodes investor website.
A replay of the call will be available on the investor website approximately two hours after the conference call ends.
AudioCodes' Meeting Insights has won the 'Best Use of AI' category in the UC Awards 2024, recognizing its innovative use of conversational AI to enhance Microsoft Teams meeting management. The solution offers:
- Structured agendas, real-time transcription, and automated notetaking
- Tracking of participant engagement and actionable analytics
- AI-powered analysis of voice and presentation content
- Centralized repository for meeting recordings and transcriptions
Meeting Insights supports better decision-making across all management levels, improving organizational efficiency. It's available as a standalone application or through the AudioCodes Live Platform, a SaaS offering leveraging AI and Azure. Interested customers can try Meeting Insights with a free 30-day trial.
AudioCodes reported second quarter 2024 results, showing a 0.5% year-over-year increase in quarterly revenues to $60.3 million. Service revenues grew by 12.3% to $32 million. GAAP net income was $3.8 million ($0.12 per diluted share), while Non-GAAP net income reached $5.5 million ($0.18 per diluted share). The company's Microsoft Teams business grew 3.3% year-over-year, with Live managed services growing about 35%. Conversational AI business saw over 50% growth. AudioCodes declared a semi-annual dividend of 18 cents per share and continued its share repurchase program, acquiring 116,453 ordinary shares for $1.2 million during the quarter.
AudioCodes (NASDAQ: AUDC), a key provider of advanced communications software and solutions, announced it will release its financial results for Q2 2024 on July 30, 2024, before NASDAQ market opening. The results will cover the period ended June 30, 2024, and will be available on the company's website. A conference call to discuss these results, hosted by CEO Shabtai Adlersberg and CFO Niran Baruch, will occur the same day at 8:30 a.m. Eastern Time. Investors can join via phone or a webcast. A replay will be available on the investor website shortly after the call.
AudioCodes has been ranked as the leading global enterprise session border controller (SBC) vendor for 2023 by Omdia, achieving a 23.1% worldwide revenue share. This marks the third consecutive year AudioCodes has secured the top spot. The company's Mediant SBCs, which support Microsoft Teams, Zoom Phone, and other UCaaS and CCaaS platforms, played a significant role in this achievement. AudioCodes also led the market in Q4 2023 with a 26.8% share. Their SBCs are integral to the AudioCodes Live Platform, an Azure-based service that enhances digital workplace communication through high-quality, secure voice connectivity. AudioCodes' commitment to innovation and customer satisfaction was highlighted as essential to their ongoing success.
AudioCodes reported its first quarter 2024 results, showing a 1.5% increase in quarterly revenues to $60.1 million. The company's GAAP net income was $2.1 million, with a non-GAAP net income of $5.2 million. AudioCodes declared a cash dividend of 18 cents per share and repurchased 301,937 of its ordinary shares. Despite revenue headwinds from declining legacy business and a shift to recurring revenue model, the company experienced growth in key business lines such as Microsoft Teams, voice services for CX, and conversational AI applications.
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