AudioCodes Reports Fourth Quarter and Full Year 2024 Results and Declares Semi-Annual Dividend of 18 cents per share

Rhea-AI Summary

AudioCodes (AUDC) reported its Q4 and full year 2024 financial results. Q4 revenues decreased 3.2% year-over-year to $61.6 million, while full-year revenues slightly declined 0.9% to $242.2 million. However, service revenues showed strong growth, increasing 10.9% in Q4 to $34.2 million and 8.2% for the full year to $130.2 million.

Q4 GAAP net income was $6.8 million ($0.22 per share), while full-year GAAP net income reached $15.3 million ($0.50 per share). The company's Enterprise UCaaS and CX business accounted for 92% of Q4 revenues, with Microsoft business growing 13% in the quarter. The company's ARR reached $65 million, representing 35% year-over-year growth.

AudioCodes declared a semi-annual dividend of 18 cents per share, payable March 6, 2025, and repurchased 634,533 shares for $6.0 million during Q4 2024.

Positive

• Service revenues increased 10.9% YoY to $34.2M in Q4
• Q4 GAAP net income grew to $6.8M from $3.7M YoY
• Microsoft business up 13% in Q4
• ARR reached $65M, showing 35% YoY growth
• Voice.ai business grew 30% in full year 2024

Negative

• Q4 revenues decreased 3.2% YoY to $61.6M
• Full-year revenues declined 0.9% to $242.2M
• Cash and equivalents decreased to $93.9M from $106.7M YoY
• One-time settlement expense of $1.4M for prior headquarters lease termination

Insights

Financial Analyst

AudioCodes' Q4 2024 results reveal a strategic transformation in progress, marked by both challenges and opportunities. The 3.2% YoY revenue decline to $61.6M masks a significant shift in business model, as the company accelerates its transition from perpetual licenses to recurring revenue streams.

The standout metrics paint a compelling picture of this evolution: service revenues surged 10.9% YoY to $34.2M, while ARR reached $65M, representing 35% YoY growth. The Microsoft business segment's 13% quarterly growth, coupled with managed services reaching 47% of Microsoft-related revenue, demonstrates successful execution of the recurring revenue strategy.

Financial health indicators remain robust, with Non-GAAP net income increasing to $11.6M ($0.37 per share) and operating cash flow of $15.3M for the quarter. The company's capital allocation strategy balances growth investments with shareholder returns, evidenced by the $6.0M share repurchase and $0.18 per share dividend declaration.

The Voice.ai business unit's 30% growth and projected 40-50% growth for 2025 positions AudioCodes well in the rapidly expanding conversational AI market. This segment, combined with the company's strong UCaaS presence, creates multiple growth vectors as enterprises increasingly adopt AI-driven communication solutions.

While the revenue transition period may create near-term growth headwinds, the improving margin profile and expanding recurring revenue base suggest strengthening fundamental business health. The company's cash position of $93.9M provides ample flexibility to fund both organic growth initiatives and shareholder returns.

OR YEHUDA, Israel, Feb. 4, 2025 /PRNewswire/ --

Fourth Quarter and Full Year 2024 Highlights

• Quarterly revenues decreased by 3.2% year-over-year to $61.6 million;
  full year 2024 revenues decreased by 0.9% to $242.2 million.
• Quarterly service revenues increased by 10.9% year-over-year to $34.2 million;
  full year 2024 service revenues increased by 8.2% to $130.2 million.
• GAAP results:
  - Quarterly GAAP gross margin was 66.2%;
  - Quarterly GAAP operating margin was 6.7%;
  - Quarterly GAAP EBITDA was $5.2 million;
  - Quarterly GAAP net income was $6.8 million, or $0.22 per diluted share; and
  - Full year 2024 GAAP net income was $15.3 million, or $0.50 per diluted share.
• Non-GAAP results:
  - Quarterly Non-GAAP gross margin was 66.5%;
  - Quarterly Non-GAAP operating margin was 12.2%;
  - Quarterly Non-GAAP EBITDA was $8.5 million;
  - Quarterly Non-GAAP net income was $11.6 million, or $0.37 per diluted share; and
  - Full year 2024 Non-GAAP net income was $27.3 million, or $0.87 per diluted share.
• Net cash provided by operating activities was $15.3 million for the quarter and $35.3 million for the full year 2024.
• AudioCodes repurchased 634,533 of its ordinary shares during the quarterly period ended December 31, 2024 at an aggregate cost of $6.0 million.

Details

AudioCodes (NASDAQ: AUDC), a leading provider of unified communications voice, contact center and conversational AI applications and services for enterprises, today announced its financial results for the fourth quarter and full year period ended December 31, 2024.

Revenues for the fourth quarter of 2024 were $61.6 million compared to $60.2 million for the third quarter of 2024 and compared to $63.6 million for the fourth quarter of 2023. Revenues were $242.2 million in 2024 compared to $244.4 million in 2023.

EBITDA for the fourth quarter of 2024 was $5.2 million compared to $7.9 million for the fourth quarter of 2023. EBITDA was $21.1 million in 2024 compared to $17.0 million in 2023.

On a Non-GAAP basis, EBITDA for the fourth quarter of 2024 was $8.5 million compared to $11.2 million for the fourth quarter of 2023. EBITDA was $31.4 million in 2024 compared to $31.0 million in 2023.

Net income was $6.8 million, or $0.22 per diluted share, for the fourth quarter of 2024 compared to net income of $3.7 million, or $0.12 per diluted share, for the fourth quarter of 2023. Net income was $15.3 million, or $0.50 per diluted share in 2024, compared to $8.8 million, or $0.28 per diluted share in 2023.

On a Non-GAAP basis, net income was $11.6 million, or $0.37 per diluted share, for the fourth quarter of 2024 compared to $8.9 million, or $0.28 per diluted share, for the fourth quarter of 2023. Non-GAAP net income was $27.3 million, or $0.87 per diluted share in 2024 compared to $25.0 million, or $0.77 per diluted share in 2023.

Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; (iii) expenses related to deferred payments in connection with the acquisition of Callverso Ltd; (iv) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies; (v) tax impact which relates to our Non-GAAP adjustments; (vi) with respect to Q1 2024, non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company's new headquarters; and (vii) a one-time, non-recurring settlement expense attributable to the Settlement Agreement (as defined below). A reconciliation of net income on a GAAP basis to a non-GAAP basis is provided in the tables that accompany the condensed consolidated financial statements contained in this press release.

On December 25, 2024, we entered into a settlement (the "Settlement Agreement") with the landlord of our prior headquarters in connection with the termination of the related lease agreement. Pursuant to the Settlement Agreement, we incurred a one-time, non-recurring settlement expense of approximately $1.4 million during the quarterly period in the form of a cash payment made to the landlord.

Net cash provided by operating activities was $15.3 million for the fourth quarter of 2024 and $35.3 million for 2024.

Cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long-term financial investments were $93.9 million as of December 31, 2024, compared to $106.7 million as of December 31, 2023. The decrease in cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long-term financial investments was the result of the use of cash for the continued repurchasing of the Company's ordinary shares pursuant to its share repurchase program, payment of a cash dividend during each of the first and third quarters of 2024, and the purchase of property and equipment related to leasehold improvements of our new corporate headquarters in Israel, offset, in part, by cash generated from operating activities.

"I am pleased to report solid fourth quarter performance, with healthy growth in key business lines, taking us further on our transformative evolution to a cloud software and services company," said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.

Enterprise UCaaS and CX business accounted for 92% of revenues in the fourth quarter, within which our UCaaS business performed well, highlighted by Microsoft business up 13% in the quarter, representing the highest quarterly growth rate this year.  Full year Microsoft business increased 6%, driven mainly by the ongoing transition of our revenue model from perpetual sales to recurrent revenue sales.  Live managed services mix within Microsoft business increased 30% year-over-year, and reached a level of 47% of business, compared to 40% in the year ago quarter.  This growth, coupled with 30% growth in Voice.ai business for the full year 2024, contributed to us ending 2024 with ARR at $65 million, representing 35% year-over-year growth.  We expect the recurring revenue business momentum to continue driving our sales for the UCaaS and CX markets in 2025 and beyond.  With the shift in focus for end customers towards Value-Added Services, we expect to see a rise in demand for our Voice.ai application solutions, and an increased interest in our Live Platform, which consolidates connectivity, management, and Value-Added Services through one integrated AudioCodes' platform.

The significant investments we have in our Voice.ai and conversational AI portfolio over the last several years are paying off. Individual business units have emerged as leaders in their respective categories.  Additionally, with growing customer demand for AI and Gen AI driven business voice applications and Value-added Services, we have seen a surge in our pipeline of created opportunities in Voice.ai connect, Voca CIC and Meeting Insights applications.  The growth in AI business applications is solid and we expect this segment to grow 40% to 50% in 2025.  

Overall, we exited 2024 with good operational momentum, particularly with the continued strong growth in our two primary engines, namely our Live family of managed services and Voice.ai. With the progress we are making in increasing our recurring revenues and the robust pipeline of opportunities, we expect to see improved top-line growth in 2025 and beyond," concluded Mr. Adlersberg.

Share Buy Back Program

During the quarter ended December 31, 2024, the Company acquired 634,533 of its ordinary shares under its share repurchase program for a total consideration of $6.0 million.

In December 2024, the Company received court approval in Israel to purchase up to an aggregate amount of $20 million of additional ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through June 14, 2025.

As of December 31, 2024, the Company had $19 million available under this approval for the repurchase of shares and/or declaration of cash dividends.

Cash Dividend

AudioCodes also announced today that the Company's Board of Directors has declared a cash dividend in the amount of 18 cents per share. The aggregate amount of the dividend is approximately $5.3 million. The dividend is payable on March 6, 2025, to all of the Company's shareholders of record at the close of trading on the NASDAQ Global Select Market on February 20, 2025.

In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 25% of the dividend amount payable to each shareholder of record, subject to applicable exemptions. If the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company's share capital, the withholding rate is 30%.

The dividend will be paid in U.S. dollars on the ordinary shares of AudioCodes Ltd. that are traded on the Nasdaq Global Select Market or the Tel-Aviv Stock Exchange. The amount and timing of any other dividends will be determined by the Company's Board of Directors.

Conference Call & Web Cast Information

AudioCodes will conduct a conference call at 8:30 A.M., Eastern Time today to discuss the Company's fourth quarter and full year of 2024 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one of the following numbers:

United States Participants: 888-506-0062

International Participants: +1 (973) 528-0011

The conference call will also be simultaneously webcast. Investors are invited to listen to the call live via webcast at the AudioCodes investor website at http://www.audiocodes.com/investors-lobby.

About AudioCodes

AudioCodes (NASDAQ, TASE: AUDC) is a leading innovator of intelligent cloud communications solutions. AudioCodes empowers enterprises and service providers to build and operate state-of-the-art voice networks, unified communications platforms, and AI-driven productivity tools. The cutting-edge portfolio includes cloud-native applications, advanced Voice.ai technologies, and comprehensive communication solutions tailored for the modern digital workplace. Trusted by global Fortune 500 companies and tier-1 operators worldwide, AudioCodes drives digital transformation through seamless integration, enhanced collaboration, and unparalleled communication experiences.

For more information, visit http://www.audiocodes.com.

Follow AudioCodes' social media channels:

AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, Twitter, Facebook, and YouTube.

Statements concerning AudioCodes' business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements'' as that term is defined under U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions in AudioCodes' industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes' and its customers' products and markets; timely product and technology development, upgrades and the ability to manage changes in market conditions as needed; possible need for additional financing; the ability to satisfy covenants in the Company's loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes' business; possible adverse impact of the COVID-19 pandemic on our business and results of operations; the effects of the current terrorist attacks by Hamas in Israel, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah as well as the possibility that this could develop into a broader regional conflict involving Israel with other parties, may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; and other factors detailed in AudioCodes' filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.

©2025 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What's Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom, AudioCodes One Voice, AudioCodes Meeting Insights, AudioCodes Room Experience are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

Summary financial data follows

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
	December 31,		December 31,
	2024		2023
	(Unaudited)		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$ 58,749		$ 30,546
Short-term and restricted bank deposits	210		212
Short-term marketable securities	3,426		7,438
Trade receivables, net	56,016		51,125
Other receivables and prepaid expenses	13,012		9,381
Inventories	31,463		43,959
Total current assets	162,876		142,661
LONG-TERM ASSETS:
Long-term Trade receivables	$ 15,753		$ 16,798
Long-term marketable securities	28,518		65,732
Long-term financial investments	3,008		2,730
Deferred tax assets	9,838		6,208
Operating lease right-of-use assets	32,534		36,712
Severance pay funds	18,004		17,202
Total long-term assets	107,655		145,382
PROPERTY AND EQUIPMENT, NET	27,321		10,893
GOODWILL, INTANGIBLE ASSETS AND OTHER, NET	38,049		38,581
Total assets	$ 335,901		$ 337,517
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables	7,543		7,556
Other payables and accrued expenses	25,823		29,943
Deferred revenues	38,438		38,820
Short-term operating lease liabilities	5,954		7,878
Total current liabilities	77,758		84,197
LONG-TERM LIABILITIES:
Accrued severance pay	$ 16,387		$ 16,662
Deferred revenues and other liabilities	19,434		17,142
Long-term operating lease liabilities	30,508		31,404
Total long-term liabilities	66,329		65,208
Total shareholders' equity	191,814		188,112
Total liabilities and shareholders' equity	$ 335,901		$ 337,517

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except per share data
	Year ended				Three months ended
	December 31,				December 31,
	2024		2023		2024		2023
	(Unaudited)		(Unaudited)		(Unaudited)
Revenues:
Products	$ 111,966		$ 123,991		$  27,319		$  32,692
Services	130,210		120,392		34,235		30,867
Total Revenues	242,176		244,383		61,554		63,559
Cost of revenues:
Products	44,448		47,964		10,325		11,396
Services	39,567		38,070		10,510		9,771
Total Cost of revenues	84,015		86,034		20,835		21,167
Gross profit	158,161		158,349		40,719		42,392
Operating expenses:
Research and development, net	52,125		57,169		12,345		13,806
Selling and marketing	71,167		70,243		18,740		17,496
General and administrative	17,678		16,513		5,532		3,856
Total operating expenses	140,970		143,925		36,617		35,158
Operating income	17,191		14,424		4,102		7,234
Financial income (expenses), net	(2,095)		(52)		(1,900)		(1,740)
Income before taxes on income	15,096		14,372		2,202		5,494
Taxes on income, net	215		(5,592)		4,573		(1,839)
Net income	$ 15,311		$ 8,780		$ 6,775		$ 3,655
Basic net earnings per share	$ 0.51		$ 0.28		$ 0.23		$ 0.12
Diluted net earnings per share	$ 0.50		$ 0.28		$ 0.22		$ 0.12
Weighted average number of shares used in computing basic net earnings per share (in thousands)	30,162		31,401		29,932		30,678
Weighted average number of shares used in computing diluted net earnings per share (in thousands)	30,642		31,579		30,260		30,893

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
U.S. dollars in thousands, except per share data
	Year ended				Three months ended
	December 31,				December 31,
	2024		2023		2024		2023
	(Unaudited)		(Unaudited)		(Unaudited)
GAAP net income	$ 15,311		$ 8,780		$ 6,775			$ 3,655
GAAP net earnings per share	$ 0.50		$ 0.28		$ 0.22			$ 0.12
Cost of revenues:
Share-based compensation (1)	369		388		95			84
Amortization expenses (2)	488		501		122			122
Lease expenses (6)	304		685		-			363
	1,161		1,574		217			569
Research and development, net:
Share-based compensation (1)	2,108		2,685		466			595
Deferred payments expenses (3)	-		770		-			408
Lease expenses (6)	342		430		-			55
	2,450		3,885		466			1,058
Selling and marketing:
Share-based compensation (1)	2,959		4,297		704			917
Amortization expenses (2)	44		44		11			11
Deferred payments expenses (3)	-		86		-			46
Lease expenses (6)	38		430		-			55
	3,041		4,857		715			1,029
General and administrative:
Share-based compensation (1)	2,792		4,010		679			768
Settlement with former headquarter office landlord (7)	1,355		-		1,355			-
Lease expenses (6)	76		171		-			91
	4,223		4,181		2,034			859
Financial expenses (income):
Exchange rate differences (4)	507		205		1,261			1,442
Income taxes:
Taxes on income, net (5)	585		1,549		163			302
Non-GAAP net income	$ 27,278		$ 25,031		$ 11,631			$ 8,914
Non-GAAP diluted net earnings per share	$ 0.87		$ 0.77		$ 0.37			$ 0.28
Weighted average number of shares used in computing Non-GAAP diluted net earnings per share (in thousands)	31,449		32,637		31,192			31,937
(1)  Share-based compensation expenses related to options and restricted share units granted to employees and others. (2)  Amortization expenses related to intangible assets. (3)  Expenses related to deferred payments in connection with the acquisition of Callverso Ltd. (4)  Financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. (5)  Tax impact which relates to our non-GAAP adjustments. (6)  With respect to Q1 2024, non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company's new headquarters. (7)  A one-time, non-recurring expense attributable to the Settlement Agreement.   Note:  Non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.  The Company believes that non-GAAP information is useful because it can enhance the understanding of its ongoing economic performance and therefore uses internally this non-GAAP information to evaluate and manage its operations. The Company has chosen to provide this information to investors to enable them to perform comparisons of operating results in a manner similar to how the Company analyzes its operating results and because many comparable companies report this type of information.

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
U.S. dollars in thousands
		Year ended						Three months ended
		December 31,						December 31,
		2024			2023			2024		2023
		(Unaudited)				(Unaudited)		(Unaudited)
Cash flows from operating activities:
Net income		$ 15,311			$ 8,780			$ 6,775		$ 3,655
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		3,883			2,596			1,095		624
Net loss from sale of marketable securities		882			218			608		-
Amortization of marketable securities premiums and accretion of discounts, net		1,120			1,130			509		321
Decrease (increase) in accrued severance pay, net		(1,077)			(362)			(378)		131
Share-based compensation expenses		8,228			11,380			1,944		2,364
Decrease (increase) in deferred tax assets, net		(4,548)			1,437			(5,374)		273
Cash financial loss (income), net		313			(218)			176		179
Decrease in operating lease right-of-use assets		6,009			9,281			1,254		2,593
Decrease (increase) in operating lease liabilities		(4,651)			(6,914)			(720)		1,497
Decrease (increase) in trade receivables, net		(3,846)			1,600			2,168		(3,045)
Decrease (increase) in other receivables and prepaid expenses		(3,631)			625			(927)		(947)
Decrease (increase) in inventories		12,283			(7,791)			2,164		814
Increase (decrease in trade payables		(13)			(3,782)			2,064		918
Increase (decrease) in other payables and accrued expenses		3,223			(6,233)			3,817		181
Increase (decrease) in deferred revenues		1,767			3,144			136		(279)
Net cash provided by operating activities		35,253			14,891			15,311		9,279
Cash flows from investing activities:
Proceeds from short-term deposits		2			4,998			(8)		(10)
Proceeds from sale of marketable securities		35,177			3,846			25,186		-
Proceeds from financial investment		132			-			56		-
Proceeds from redemption of marketable securities		7,450			3,084			4,000		-
Proceeds from redemption of financial investments		-			14,094			-		-
Purchase of financial investments		(675)			(81)			-		-
Purchase of property and equipment		(24,280)			(5,965)			(3,512)		(664)
Net cash provided by (used in) investing activities		17,806			19,976			25,722		(674)

 

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
U.S. dollars in thousands
		Year ended					Three months ended
		December 31,					December 31,
		2024		2023			2024		2023
		(Unaudited)			(Unaudited)		(Unaudited)
Cash flows from financing activities:
Purchase of treasury shares		(14,328)		(18,259)			(5,988)		(6,286)
Cash dividends paid to shareholders		(10,896)		(11,399)			-		-
Proceeds from issuance of shares upon exercise of options		368		802			182		548
Net cash used in financing activities		(24,856)		(28,856)			(5,806)		(5,738)
Net increase in cash, cash equivalents, and restricted   cash		28,203		6,011			35,227		2,867
Cash, cash equivalents and restricted cash at beginning   of period		30,546		24,535			23,522		27,679
Cash, cash equivalents and restricted cash at end of   period		$ 58,749		$ 30,546			$ 58,749		$ 30,546

 

 

Company Contacts
Niran Baruch, Chief Financial Officer AudioCodes Tel: +972-3-976-4000 niran.baruch@audiocodes.com		Roger L. Chuchen, VP, Investor Relations AudioCodes Tel:  732-764-2552 roger.chuchen@audiocodes.com

 

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FAQ

What was AudioCodes (AUDC) revenue performance in Q4 2024?

AudioCodes reported Q4 2024 revenues of $61.6 million, representing a 3.2% decrease year-over-year from $63.6 million in Q4 2023.

How much dividend did AudioCodes (AUDC) declare for 2025?

AudioCodes declared a semi-annual cash dividend of 18 cents per share, totaling approximately $5.3 million, payable on March 6, 2025.

What was AUDC's share buyback activity in Q4 2024?

AudioCodes repurchased 634,533 ordinary shares during Q4 2024 at an aggregate cost of $6.0 million.

How did AudioCodes' Microsoft business perform in Q4 2024?

AudioCodes' Microsoft business grew 13% in Q4 2024, representing the highest quarterly growth rate for the year.

What was AudioCodes' Annual Recurring Revenue (ARR) in 2024?

AudioCodes ended 2024 with ARR at $65 million, representing a 35% year-over-year growth.