Audiocodes ( (AUDC) ) has released its Q4 earnings. Here is a breakdown of the information Audiocodes presented to its investors.
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AudioCodes (NASDAQ: AUDC) is a leading innovator in the field of intelligent cloud communications, providing unified communications voice, contact center, and conversational AI applications and services for enterprises globally.
In its latest financial report, AudioCodes disclosed a decrease in quarterly revenues by 3.2% year-over-year to $61.6 million and a slight full-year revenue drop of 0.9% to $242.2 million. Despite the revenue decline, the company declared a semi-annual dividend of 18 cents per share.
Key financial highlights include a significant rise in service revenues, which increased by 10.9% year-over-year for the quarter and 8.2% for the full year, reaching $34.2 million and $130.2 million, respectively. The company reported a quarterly GAAP net income of $6.8 million and a full-year GAAP net income of $15.3 million. Non-GAAP results showed a net income of $11.6 million for the quarter, with a full-year figure of $27.3 million, indicating positive adjustments excluding certain expenses. AudioCodes also continued its share repurchase program, acquiring 634,533 shares at a cost of $6.0 million.
Additionally, AudioCodes highlighted the growth in its Enterprise UCaaS and CX business, particularly its Microsoft business segment, which saw a 13% increase in the quarter. The company also noted a strong annual growth rate of 30% in its Voice.ai business, contributing to an annual recurring revenue of $65 million, marking a 35% year-over-year growth.
Looking forward, AudioCodes is optimistic about continued growth in its recurring revenue business, particularly in the UCaaS and CX markets. The company anticipates a rise in demand for its Voice.ai application solutions and expects its AI business applications to grow by 40% to 50% in 2025, driven by increased customer interest in AI-driven business voice applications and value-added services.
