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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.
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