OR YEHUDA, Israel, Nov. 6, 2024 /PRNewswire/ -- Third Quarter Highlights Quarterly revenues decreased by 2.2% year-over-year to $60.2 million; Quarterly service revenues increased by 6.4% year-over-year to $32.5 million; GAAP results:- Quarterly GAAP gross margin was 65.2%;- Quarterly GAAP operating margin was 8.1%;- Quarterly GAAP EBITDA was $5.9 million;- Quarterly GAAP net income was $2.7 million, or $0.09 per diluted share.  Non-GAAP results:- Quarterly Non-GAAP gross margin was 65.6%;- Quarterly Non-GA ...

Meeting Insights' support for Microsoft Teams and Zoom unifies recap across UCaaS platforms and empowers enterprise-wide centralized collaboration OR YEHUDA, Israel, Oct. 28, 2024 /PRNewswire/ -- Highlights: Meeting Insights expands support to Zoom meetings, in addition to Microsoft Teams, providing a unified meeting intelligence solution across unified communications as a service (UCaaS) platforms. By supporting both Microsoft Teams and Zoom, Meeting Insights enables organizations to centralize insights fr ...

Core Viewpoint - AudioCodes is set to release its financial results for the third quarter of 2024 on November 6, 2024, before the market opens on NASDAQ, covering the period ended September 30, 2024 [1] Group 1: Financial Results Announcement - The financial results will be disseminated via news wires and posted on the corporate website [1] - A conference call to discuss the results will take place on November 6, 2024, at 8:30 a.m. Eastern Time, hosted by the President and CEO, Shabtai Adlersberg, and the CFO, Niran Baruch [1] Group 2: Investor Participation - Investors can listen to the call live by dialing specific numbers or via webcast on the AudioCodes investor website [2] - A replay of the call will be available on the investor website approximately two hours after the conference call concludes [2] Group 3: Company Overview - AudioCodes is a leading vendor of advanced communications software and products for the digital workplace, enabling enterprises to build and operate all-IP voice networks [4] - The company offers a wide range of innovative products and services used by large multinational enterprises and tier-1 operators globally [4]

AudioCodes (AUDC) shares soared 6.7% in the last trading session to close at $9.34. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.8% loss over the past four weeks.AudioCodes is likely to have benefited from the secular tailwinds related to IP-based communications. The uptrend is also expected to have been triggered by its continued focus on high-margin businesses, resulting in a faster-than-expected expansion in operating ma ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, in ...

Meeting Insights employs conversational AI to transform how organizations manage and leverage crucial information from Microsoft Teams meetings OR YEHUDA, Israel, July 31, 2024 /PRNewswire/ -- Highlights Meeting Insights is part of AudioCodes' growing offering of SaaS applications designed to meet evolving market demands for more flexible, scalable and integrated solutions for the modern workplace. The award's judges recognized Meeting Insights' ability to leverage conversational AI to enhance users' produ ...

Financial Data and Key Metrics Changes - Revenues for Q2 2024 were $60.3 million, a 0.5% increase from $60 million in Q2 2023 [9] - Services revenues increased by 12.3% year-over-year to $32 million, accounting for 53% of total revenues [9][10] - GAAP gross margin improved to 65.5% from 64.1% in Q2 2023 [10] - Operating income rose to $4.9 million (8.2% of revenues) compared to $2.3 million (3.8% of revenues) in Q2 2023 [10] - Non-GAAP net income for Q2 2024 was $5.5 million, or $0.18 per diluted share, compared to $5.1 million, or $0.16 per diluted share in Q2 2023 [11] Business Line Data and Key Metrics Changes - The enterprise business, representing about 90% of total revenue, saw the UCaaS business grow by 3.3% year-over-year, with Microsoft Teams live minute services annual recurring revenues growing 35% year-over-year [16][25] - The Customer Experience (CX) business revenue declined by about 10% year-over-year due to a large deal push-out, but a healthy pipeline supports a positive outlook for the second half of 2024 [28] - Conversational AI business revenue increased by 10.5% year-over-year, with bookings growing over 50% [16][32] Market Data and Key Metrics Changes - Revenue by geographical regions: North America (47%), EMEA (35%), Asia-Pacific (13%), and Central and Latin America (5%) [10] - The top 15 customers accounted for 56% of revenues, with 38% attributed to the nine largest distributors [10] Company Strategy and Development Direction - The company is focusing on growth in recurring business models, particularly in UCaaS, CCaaS, and conversational AI, with expectations of returning to growth in revenue and profits starting in 2025 [22][23] - Investments in the live platform and managed services are seen as key drivers for future growth, particularly in the Microsoft Teams ecosystem [19][25] - The company is also expanding its capabilities in conversational AI, leveraging its comprehensive technology stack to deliver integrated solutions [21][32] Management Comments on Operating Environment and Future Outlook - Management noted that the decline in legacy business is moderating, and they expect growth to resume in 2025 as recurring business models take precedence [54][55] - The impact of global economic conditions on enterprise spending is acknowledged, but management remains optimistic about the long-term growth potential driven by advancements in Gen AI technology [62][64] Other Important Information - The company declared a cash dividend of $0.18 per share, totaling approximately $5.5 million, to be paid on August 29, 2024 [12][13] - The company received court approval to purchase up to $20 million of additional ordinary shares, valid through January 1, 2025 [12] Q&A Session Summary Question: What are the key drivers of growth in the service business? - Management highlighted the strength of the live and Microsoft Teams managed services business, which has seen significant growth due to the development of a comprehensive service platform [43][44] Question: What types of customers are adopting conversational AI products? - Customers from various sectors, including finance, government, and healthcare, are adopting conversational AI solutions, with projects already in place demonstrating significant operational improvements [48][49] Question: When does management expect growth to re-emerge? - Management anticipates that growth will return by the second quarter of 2025, driven by a shift to recurring business models [54][55] Question: Have there been any changes in UCaaS and CCaaS spending due to macroeconomic conditions? - Management noted that while UCaaS growth has slowed, contact center activity remains strong, and they expect improvements as economic conditions stabilize [62][64] Question: What feedback has been received from customers regarding conversational AI? - Customers have reported significant operational efficiencies and improved decision-making capabilities due to the implementation of AI solutions, justifying the investment [65][66]

Group 1: Earnings Performance - AudioCodes reported quarterly earnings of $0.18 per share, matching the Zacks Consensus Estimate, and an increase from $0.16 per share a year ago [1] - The company posted revenues of $60.3 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.62% and up from $60.02 million year-over-year [1] - Over the last four quarters, AudioCodes has surpassed consensus EPS estimates two times and topped consensus revenue estimates once [1] Group 2: Stock Performance and Market Comparison - AudioCodes shares have declined approximately 12.4% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [2] - The current Zacks Rank for AudioCodes is 3 (Hold), indicating expected performance in line with the market in the near future [3] Group 3: Future Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.27 on revenues of $61.58 million, and for the current fiscal year, it is $0.93 on revenues of $245.08 million [4] - The Communication - Components industry is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [4]