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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 (NASDAQ: AUDC) announced it will release its financial results for Q4 and full year 2021 on February 1, 2022, before market open. The results reflect the period ending December 31, 2021. A conference call will be held on the same day at 8:30 a.m. ET, hosted by CEO Shabtai Adlersberg and CFO Niran Baruch. Investors can access the call via phone or webcast. The results will be available on the corporate website. AudioCodes specializes in advanced communications software and solutions for the digital workplace.
AudioCodes, a vendor of advanced communications solutions, has acquired Callverso, a provider of conversational AI and NLU technology for contact centers. This strategic acquisition aims to enhance AudioCodes' Voice.ai portfolio, significantly improving customer experience and reducing operational costs for contact centers. Callverso's virtual customer agent (VICA) has successfully processed over 14 million calls and is integrated into major Israeli healthcare and utility providers. The transaction, closed on November 10, 2021, includes a cash component and earn-out based on sales targets.
AudioCodes reported strong financial results for Q3 2021, with revenues up 12.1% year-over-year to $63.4 million. Service revenues surged 26.7% to $24.8 million. GAAP net income was $8.3 million ($0.24 per diluted share), while non-GAAP net income was $12.9 million ($0.38 per diluted share). Operating cash flow reached $13 million. Share repurchases during the quarter totaled $13.8 million. The company is optimistic about growth in enterprise and service operations, particularly in UCaaS and Voice.ai, which saw bookings more than double year-over-year.
Telco Systems and AudioCodes have announced the launch of a joint solution aimed at enhancing communication services for enterprises. The solution integrates access, VoIP, and edge computing capabilities into a single device, reducing both capital and operational expenses. Powered by Telco Systems' Edgility, it enables service providers to manage various communications services on one platform, promoting ease of deployment and flexibility. The offering includes a variety of WAN interfaces and is supported by a cloud-based management system for automated deployment.
AudioCodes (NASDAQ: AUDC) has announced that it will release its third quarter 2021 financial results on October 26, 2021, before market opening. The results will reflect the period ending September 30, 2021. A conference call to discuss the results will take place the same day at 8:30 a.m. ET, featuring CEO Shabtai Adlersberg and CFO Niran Baruch. Investors can access the call via phone or live webcast on the company's investor website. The call's replay will be available shortly after it concludes.
AudioCodes reported a 13.2% increase in quarterly revenues, reaching $60.6 million, with service revenues up 32.8% to $22.8 million. GAAP net income was $8.2 million ($0.24 per diluted share), while non-GAAP net income rose to $12.7 million ($0.37 per diluted share). The company generated $17.1 million in net cash from operating activities, with total cash and equivalents at $191.9 million. A dividend of 17 cents per share is payable on August 26, 2021. Share repurchases totaled $7.1 million during the quarter.
AudioCodes (NASDAQ: AUDC) will announce its second-quarter 2021 financial results on July 27, 2021, prior to market opening. This report will cover the period ending June 30, 2021, and can be accessed via news wires and the company’s website. A conference call discussing the results is scheduled for the same day at 8:30 a.m. ET, hosted by CEO Shabtai Adlersberg and CFO Niran Baruch. Interested investors can join the call through phone or webcast. A replay will be available shortly after the call ends.
AudioCodes (NASDAQ: AUDC) reported strong financial results for Q1 2021, with revenues up 13.1% year-over-year to $58.8 million. Service revenues increased by 23.3% to $21.8 million. GAAP net income rose to $10.0 million ($0.29 per diluted share), compared to $5.3 million ($0.17 per diluted share) in Q1 2020. Non-GAAP net income grew to $12.7 million ($0.37 per diluted share). Cash flow from operations was $13.0 million. A dividend of $0.16 per share was declared, totaling $5.3 million, and the company repurchased 350,000 shares for $10.3 million.
AudioCodes, a leading communications software vendor, has been ranked by Omdia as the top provider of enterprise session border controllers (SBCs) for 4Q20, achieving a revenue share of 21.4%. For the full year 2020, it secured second place with 17.9% market share. The company expanded its SBC customer base by over 30% compared to 2019 and more than doubled the number of deals exceeding $400,000, driven largely by demand for Microsoft Teams support during the COVID-19 pandemic.
AudioCodes (NASDAQ: AUDC) has been chosen by Algar Telecom to provide Microsoft Teams unified communications as a managed service. This service will utilize the AudioCodes Live Cloud for Microsoft Teams, allowing business customers to migrate to Teams seamlessly without heavy infrastructure investments. The offering features a subscription model with two variants: Hosted Essentials and Hosted Pro, both simplifying onboarding and management. This partnership aims to enhance productivity for businesses in Brazil, leveraging Azure cloud capabilities.
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