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About AudioCodes (NASDAQ: AUDC)
AudioCodes Ltd. is a globally recognized provider of advanced communications software, products, and productivity solutions tailored for the modern digital workplace. With a strong focus on enabling enterprises and service providers to build and operate all-IP voice networks, AudioCodes empowers organizations to streamline unified communications (UC), enhance customer experience (CX), and adopt cloud-native technologies. Its innovative product portfolio includes IP phones, session border controllers (SBCs), digital and analog media gateways, multi-service business routers, and AI-driven voice applications.
Core Business Areas
AudioCodes operates at the intersection of unified communications, contact centers, and hosted business services. Leveraging its expertise in voice networking, the company provides solutions that integrate seamlessly with leading platforms like Microsoft Teams. Its offerings are categorized into:
- Unified Communications (UC): Solutions that enable enterprises to deploy and manage all-IP voice networks, including Microsoft Teams-certified devices and services.
- Customer Experience (CX): AI-first omnichannel contact center solutions, such as the Voca Conversational Interaction Center (Voca CIC), which integrate voice, email, and webchat for consistent customer engagement.
- Cloud-Native Services: Managed services like 'AudioCodes Live,' which provide end-to-end voice and collaboration solutions for Microsoft Teams, supporting both Operator Connect and Direct Routing.
- Conversational AI: Advanced AI-powered applications for contact centers, including intelligent call routing, voice analytics, and conversational IVR.
Revenue Model and Market Reach
AudioCodes generates revenue through a combination of direct product sales, subscription-based managed services, and licensing. Its strategic shift towards recurring revenue models, such as SaaS and UCaaS, underscores its commitment to long-term growth and customer retention. Geographically, the company derives the majority of its revenue from the Americas, with additional contributions from Europe, Israel, and the Far East.
Competitive Positioning
In a competitive landscape that includes players like Cisco, Avaya, and Zoom, AudioCodes differentiates itself through its deep integration with Microsoft Teams and its ability to deliver comprehensive, cloud-native communication solutions. Its emphasis on AI-driven productivity tools and omnichannel CX capabilities positions it as a leader in unified communications and customer experience markets.
Strategic Focus
AudioCodes is at the forefront of digital transformation, focusing on:
- Cloud Migration: Facilitating the transition from legacy systems to cloud-based architectures.
- AI Integration: Enhancing UC and CX workflows with conversational AI and analytics.
- Managed Services: Expanding its 'AudioCodes Live' platform to offer scalable, subscription-based solutions.
Why AudioCodes Matters
As enterprises increasingly adopt cloud-based communication platforms, AudioCodes plays a critical role in ensuring seamless integration, enhanced collaboration, and superior customer experiences. Its innovative solutions, trusted by Fortune 500 companies and tier-1 operators, make it a pivotal player in the digital workplace and unified communications ecosystem.
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 $400,000, driven largely by demand for Microsoft Teams support during the COVID-19 pandemic.
AudioCodes (NASDAQ: AUDC) has been chosen by Algar Telecom to provide Microsoft Teams unified communications as a managed service. This service will utilize the AudioCodes Live Cloud for Microsoft Teams, allowing business customers to migrate to Teams seamlessly without heavy infrastructure investments. The offering features a subscription model with two variants: Hosted Essentials and Hosted Pro, both simplifying onboarding and management. This partnership aims to enhance productivity for businesses in Brazil, leveraging Azure cloud capabilities.
AudioCodes (NASDAQ: AUDC) will release its first quarter 2021 financial results on April 27, 2021, before market open, for the period ending March 31, 2021. A conference call discussing these results will take place on the same day at 8:30 a.m. ET, hosted by CEO Shabtai Adlersberg and CFO Niran Baruch. Investors can access the call via phone or webcast, with a replay available shortly after. The release will be available on the company’s website.
AudioCodes (NASDAQ: AUDC) announced a semi-annual cash dividend of 16 cents per share, totaling approximately US$ 5.3 million. The dividend is payable on March 4, 2021 to shareholders of record as of February 18, 2021. Dividends are subject to a withholding tax of 30% for certain shareholders and 25% for others, in accordance with Israeli tax law. Future dividends will be determined by the Board of Directors.
AudioCodes has launched its SmartTAP 360⁰ Live recording solution as a service for Microsoft Teams. This new addition to the AudioCodes Live portfolio allows organizations to meet compliance and quality management needs while integrating seamlessly with Teams. SmartTAP 360⁰ Live enables efficient recording of voice calls, video sessions, and IM conversations via a pay-as-you-grow model, providing flexibility for enterprises. Certified by Microsoft, it supports the increasing demand for secure and compliant recording alternatives in today's digital workplace, particularly as Teams usage continues to grow.
AudioCodes (NASDAQ: AUDC) announced strong financial results for Q4 and full year 2020. Quarterly revenues grew by 11.1% year-over-year to $58.7 million, with service revenues up 19.9%. Full-year revenues reached $220.8 million, a 10.2% increase from 2019. Net income for Q4 was $8.4 million ($0.24/share), a significant recovery from a net loss of $8.2 million in Q4 2019. Non-GAAP net income stood at $15.2 million ($0.44/share) for Q4. The company also received court approval for share purchases and dividends up to $30 million.
AudioCodes (NASDAQ: AUDC) announced a collaboration with Twilio to provide scalable Direct Routing PSTN connectivity for Microsoft Teams customers. This integration features Twilio's Elastic SIP Trunking service and AudioCodes' Microsoft-certified Mediant session border controllers (SBCs), ensuring interoperability. The SBCs are versatile, offering both hardware and virtualized solutions, and can be deployed in various cloud environments. The streaming solution is available for rapid deployment via Azure Marketplace, promoting efficient, low-cost communication services globally.
AudioCodes (NASDAQ: AUDC) has received court approval to repurchase up to an additional $30 million of its Ordinary Shares, valid until July 19, 2021. The buyback will be funded from available working capital, with the option to declare dividends instead. Purchases may occur in open market transactions or via private negotiations, depending on market conditions. The repurchase program does not mandate the acquisition of a specific number of shares and can be suspended or discontinued at any time.
AudioCodes (NASDAQ: AUDC) has announced that it will release its financial results for the fourth quarter and year-end 2020 on January 26, 2021, before the market opens. A conference call to discuss the results will follow at 8:30 a.m. ET on the same day, hosted by CEO Shabtai Adlersberg and CFO Niran Baruch. Investors can join the call via phone or webcast. The results will be available on the corporate website and through news wires.
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