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CSG Systems International, Inc. (NASDAQ: CSGS) is a leading provider of business support solutions and services, catering to a majority of the top 100 global communications service providers. These include industry giants such as AT&T, Comcast, Dish Network, France Telecom, Orange, T-Mobile, Telefonica, Time Warner Cable, Vodafone, Vivo, and Verizon.
For over 25 years, CSG Systems International has been at the forefront of offering comprehensive solutions in voice, video, data, and content services. Their portfolio encompasses a wide range of licensed and Software-as-a-Service (SaaS) products designed to help clients improve business operations, compete more effectively, and enhance customer experiences. The company's cloud-first architecture and customer-centric approach enable businesses to deliver exceptional experiences across multiple touchpoints, simplifying connections and transactions for B2B, B2C, and B2B2X customers.
CSG Systems International operates in one primary segment: Solutions and Services. Their expertise spans various industry verticals, allowing them to tackle the growing complexity of business in the digital age. The company generates a significant portion of its revenue from the Americas, primarily the United States.
Recent achievements include numerous partnerships with leading global communications providers and continuous innovation in their SaaS offerings. These advancements have positioned CSG Systems International as a vital player in helping businesses navigate the evolving digital landscape.
For more information, visit CSG Systems International.
CSG Systems International (NASDAQ: CSGS) reported solid Q2 2024 results, with total revenue of $290.3 million, up 1.4% year-over-year. The company achieved GAAP EPS of $0.48 and non-GAAP EPS of $1.02, a 27.5% increase from Q2 2023. CSG raised its 2024 profitability and non-GAAP EPS guidance targets, while reiterating other guidance. The company announced exciting customer wins, including Telenor Denmark, Telstra, One New Zealand, and Lyse Norway. CSG's Board authorized an additional $100 million share repurchase program. The company's industry diversification strategy progressed, with 31% of revenue now coming from verticals outside Communication Service Providers, up from 7% in 2017.
Lyse, a major Norwegian energy and telecom company, has chosen CSG's cloud-native SaaS platforms to modernize its mobile consumer business. This strategic move aims to enhance customer experience, consolidate offerings, and drive business growth. Lyse will utilize CSG Ascendon, an AWS cloud-native revenue management platform, along with CSG's customer engagement capabilities.
The partnership enables Lyse to scale its business, deliver personalized customer journeys, and improve self-service across all touchpoints. By streamlining operations and leveraging AI-powered solutions, Lyse aims to set new standards in the Norwegian telecommunications market, focusing on long-term cost-effectiveness and customer loyalty.
Telenor Denmark, the second-largest mobile operator in Denmark, has chosen CSG's cloud-native, SaaS platforms to drive its digital transformation and enhance customer experiences. This strategic collaboration aims to:
1. Improve omnichannel monetization
2. Boost business efficiency
3. Future-proof B2C and B2B customer experiences
CSG Ascendon, an AWS cloud-native revenue management platform, and CSG Xponent will be implemented to deliver better digital experiences, enhance omnichannel support, and seize new revenue opportunities. The partnership is expected to strengthen Telenor Denmark's position as a leading digital telco, serving its 1.7 million customers with innovative solutions and maintaining high customer satisfaction levels.
CSG Forte has been awarded the Best API Set in the 2024 Best of Breed API Awards by TSG (The Strawhecker Group) for the second consecutive year. The company's APIs were recognized for creating a user-friendly experience for developers, scoring top marks in ease of access, clarity, simple implementation, robust error handling, and effective issue escalation.
TSG's Global Experience Monitoring platform rigorously benchmarks payment gateway API experiences. CSG Forte's API, based on REST architecture, offers features like tokenization, recurring billing, fraud prevention, and robust reporting. The company's technology aims to modernize and simplify customer bill payments, improve on-time payments, and enhance customer satisfaction through an effortless digital platform.
This recognition highlights CSG Forte's commitment to innovation and its ability to provide valuable services to merchants, partners, and consumers in the digital payment solutions sector.
CSG Systems International (NASDAQ: CSGS) has announced its upcoming second quarter 2024 earnings conference call scheduled for August 7, 2024, at 5:00 p.m. ET. The call will feature insights from the company's president and CEO, Brian Shepherd, and CFO, Hai Tran. Participants can join the call by dialing 1-888-412-4131 with the passcode 2327393. Additionally, the webcast of the earnings call will be available live and in an archived format.
Zain Sudan, a key player in the Middle East and North African wireless market, trusted CSG to recover its services after a recent data centre outage caused by ongoing conflict. Utilizing CSG's USSD Gateway solution, Zain Sudan managed to reestablish essential services within 21 days, enabling customers to manage plans and check balances promptly. This rapid response helped Zain Sudan maintain its market leadership, achieving 5.7 million balance enquiries and 4.7 million plan purchases daily. CSG's swift action minimized revenue loss and enhanced customer experience during a time of crisis.
CSG (NASDAQ: CSGS) has been named a Leader in The Forrester Wave™: Customer Journey Orchestration Platforms, Q2 2024. CSG's customer engagement platform, CSG Xponent, received the highest possible scores in 16 of the 30 criteria evaluated, including customer journey analytics, cross-journey orchestration, and real-time decisioning. The platform's capabilities have significantly enhanced customer and employee experiences for major brands, leading to improved sales results and operational efficiency. CSG Xponent's real-time decisioning engine supports over 1,000 complex decisions per second, consolidating data sources to provide immediate business impact. Additionally, its predictive journey AI adapts to customer needs in real-time.
CSG (NASDAQ: CSGS) announced the acquisition of iCheckGateway.com (iCG Pay), a North American ACH and credit card payment processing company. The acquisition is expected to enhance CSG's profitability in 2024. iCG Pay has a growing customer base in sectors like financial services, insurance, utilities, and government, with 2023 revenue of approximately $9.5 million. CSG paid an upfront purchase price of $17 million, with additional earn-out amounts based on performance goals. This acquisition aims to integrate both companies' solutions, expand channel partnerships, and strengthen CSG's leadership in the payments market.
CSG Systems International (NASDAQ: CSGS) has announced that its Board of Directors has approved a quarterly cash dividend of $0.30 per share of common stock. This dividend will be paid on June 27, 2024, to shareholders who are recorded as of the close of business on June 14, 2024.
This dividend reflects the company's ongoing commitment to returning value to its shareholders.
CSG (NASDAQ: CSGS) has appointed finance veteran Samantha Greenberg to its board of directors. Greenberg's extensive experience in financial markets and capital allocation is expected to strengthen CSG’s governance and decision-making as the company strives for faster revenue growth and diversification. With a strong record in driving financial excellence and value creation, Greenberg currently serves as CFO at ID.me and has held significant roles in technology and financial sectors. Her background includes leadership positions at Mint House, Citadel, Margate Capital Management, and Paulson & Co.
Greenberg's education credentials include an MBA from Stanford and a B.S. in Economics from the Wharton School. She has received multiple industry accolades, including recognition from DCA Live, Stanford University, Ernst & Young, and Institutional Investor.
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