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- **Revenue Resilience**: 1.7% Q4 growth, 35% YoY expansion in VoiceAI to $17 million.
- **ARR Growth**: ARRs for Live services and VoiceAI at $79 million, targeting $92-98 million in 2026.
- **Strategic Investment**: $9-10 million annual VoiceAI spend, aiming for breakeven in 2 years.
- **Market Expansion**: Cisco Webex partnership, AT&T contract wins, and Mia OP on-prem solution launch.
- **Tariffs Management**: 2026 impact at $2.3 million, gross margin maintained at 65-68%.

**【Management Opening Remarks】**
- Standard disclaimer on forward-looking statements and reconciliation between GAAP and non-GAAP financial measures.

**【CFO Financial Commentary】**
- **Q4 2025 Financials**: Revenue of $62.6 million (+1.7% YoY), GAAP net income $1.9 million ($0.07 EPS), Non-GAAP net income $4.5 million ($0.16 EPS).
- **Full Year 2025**: Revenue $245.6 million (+1.4% YoY), Non-GAAP net income $18.1 million ($0.61 EPS).
- **2026 Guidance**: Revenue $247-255 million, Non-GAAP EPS $0.60-$0.75. Tariffs impact expected at $2.3 million in 2026.

**【CEO Business Highlights】**
- **Revenue Recovery**: 2025 marked stabilization with 1.7% Q4 growth, 35% YoY growth in VoiceAI to $17 million (7% of total revenue).
- **ARR Momentum**: Live services and VoiceAI ARRs reached $79 million (+22% YoY), targeting $92-98 million in 2026.
- **VoiceAI Strategy**: $9-10 million annual investment, aiming for breakeven in 2 years. Product launches include Agent Insights and Mia OP on-prem solution.
- **Market Expansion**: Cisco Webex partnership, AT&T contract wins, and international expansion in education and government sectors.

**【Q&A Highlights】**
- **Growth Drivers**: 40-50% CAGR in VoiceAI through 2026, driven by new customers and upselling. Improved pipeline visibility due to product maturity and ease of adoption.
- **Tariffs Impact**: 2026 impact estimated at $2.3 million, gross margin maintained at 65-68% range.

AudioCodes Ltd. (AUDC) Q4 2025 Earnings Call Transcript

- **Conversational AI surge**: 50% Q3 growth, 40-50% annual target, $75M ARR.
- **Strategic wins**: Tier 1 system integrator deal, APAC airport Voca CIC win.
- **Financial strength**: $4.9M non-GAAP net, 65.8% gross margin, $79.7M cash.
- **AI innovation**: Agent Insights launch, Live Hub >30% growth, Mia OP gov expansion.
- **Microsoft stabilization**: Teams Phone business flat Q3, 4% H1 growth.
- **Voice AI pricing power**: Emerging market with no legacy cost constraints.


**【CEO Summary Section】**
- Third consecutive quarter of revenue growth, with conversational AI business up 50% YoY.
- Signed landmark agreement with global Tier 1 system integrator, driving $low single-digit million recurring revenue annually.
- Live Hub ARR grew >30% sequentially, with non-GAAP gross margin improving to 65.8%.
- Projected 40-50% annual growth in conversational AI business, supported by $75M ARR (up 25% YoY).
- Microsoft Teams Phone business grew 4% YoY for first 9 months, with pipeline up 20% YoY.
- Voca CIC won major APAC airport deal, serving 12 universities with Teams-certified contact center.
- Agent Insights AI-powered contact center solution launching Q4, integrating with Microsoft Teams.

**【CFO Financial Commentary】**
- Q3 2025 revenue: $61.5M (+2.2% YoY), non-GAAP net income: $4.9M ($0.17 EPS).
- Non-GAAP gross margin: 65.8% (vs. 64.5% Q2 2025), operating expenses: $34.7M (+6.5% YoY).
- EBITDA: $6.9M (11.2% margin), cash: $79.7M, net cash from ops: $4.1M.
- 2025 full-year outlook: $244-246M revenue, $0.60-0.64 non-GAAP EPS.

**【Q&A Highlights】**
- Live platform win with Tier 1 integrator driven by Gen AI-powered voice bots and cost efficiency.
- Voice AI solutions pricing不受 legacy UCaaS market constraints, with early adopters prioritizing productivity.
- Microsoft Teams Phone business stabilizing at $400M+ market size, targeting non-UCaaS growth.
- Product revenue growth from voice AI software, offsetting legacy hardware decline.
- UCaaS market flattening but non-UCaaS growth potential in APAC/Australia.
- Mia OP winning government tenders globally, with 15 PoC projects in pipeline.


AudioCodes Ltd. (AUDC) Q3 2025 Earnings Call Transcript

- **Revenue resilience**: Q2 2025 revenue of $61.1M (+1.3% YoY) reflects stabilization in connectivity market and 6.5% growth in Microsoft Teams business.
- **AI growth engine**: Conversational AI segment on track for 40-50% 2025 growth, with Meeting Insights On-Prem (Mia OP) generating >$1M H2 revenue and 20+ PoCs.
- **Managed services strength**: Live managed services ARR at $70M (+25% YoY), with new contract bookings up 6% in Q2.
- **Tariff headwinds**: $3-4M annual cost impact expected, but no long-term impact on customer behavior observed.
- **Strategic expansion**: Cisco WebEx certification opens new opportunities, with potential for significant 2026+ revenue growth.

**【CEO Summary Section】**
- AudioCodes reported Q2 2025 revenue of $61.1 million, a 1.3% year-over-year increase, driven by stabilization in the connectivity market and growth in Microsoft Teams business.
- The company emphasized its strategic focus on AI-driven solutions, with conversational AI (CAI) expected to grow 40-50% in 2025. The launch of Meeting Insights On-Prem (Mia OP) has generated strong interest, particularly in regulated industries.
- Live managed services reached $70 million in annual recurring revenue (ARR), up 25% YoY, with new contract bookings growing 6% in Q2.
- The company is investing in AI and sales/marketing to drive pipeline growth, despite facing $3-4 million in annual tariff-related costs.

**【CFO Financial Commentary】**
- Non-GAAP net income was $4.1 million ($0.14 per diluted share), down 25% YoY due to tariff costs and weaker U.S. dollar. GAAP net income was $0.3 million ($0.01 per share).
- Services revenue accounted for 53.3% of total, growing 1.9% YoY. Deferred revenue increased to $82.7 million, reflecting strong demand for managed services.
- Cash reserves stood at $95.3 million, supporting share buybacks and dividend payments.

**【Q&A Highlights】**
- **Tariffs and Pricing**: CEO Shabtai Adlersberg stated tariffs are a temporary cost, and pricing adjustments have mitigated margin impact. No significant shift to virtual SBCs vs. physical hardware observed.
- **Microsoft Teams Growth**: 6.5% YoY growth driven by Teams Phone adoption and cross-sell of CAI solutions. Dominant market share in managed services for Teams Phone.
- **Conversational AI Momentum**: Mia OP is on track for >$1 million in H2 revenue, with 20+ PoCs and 10 production customers. Voca CIC bookings up 150% YoY, targeting 50%+ growth in 2025.
- **Cisco WebEx Expansion**: Early pipeline building in EMEA, with potential for significant revenue in 2026+ as certification efforts expand.

AudioCodes Ltd. (AUDC) Q2 2025 Earnings Call Transcript

- **Revenue Resilience**: $60.4M Q1 revenue with 10%+ growth in AI services, offsetting tariff headwinds.
- **Strategic Wins**: $67M ARR in Microsoft Teams, $5M+ Cisco Webex pipeline, 6-figure AI voicebot deal.
- **Tariff Mitigation**: $3-4M annual cost via China manufacturing exit, 30%+ price pass-through.
- **AI Growth Catalyst**: 150% YoY Live Hub ARR, 300% GenAI recap usage, 20 on-prem solution pipeline.
- **Operational Strength**: $95.7M cash, 10.3% EBITDA margin, fortress balance sheet for macro resilience.

**【CFO Financial Overview】**
- Q1 2025 Revenue: $60.4 million (0.5% YoY growth), with 54% from services.
- Geographical Split: North America (48%), EMEA (34%), APAC (14%).
- GAAP Net Income: $4 million ($0.13 EPS) vs. $2.1 million ($0.07 EPS) YoY.
- Non-GAAP Net Income: $4.7 million ($0.15 EPS) vs. $5.2 million ($0.17 EPS) YoY.
- Cash Position: $95.7 million, with $13.5 million from operating activities.
- Tariff Impact: $3-4 million annual cost burden, partially mitigated by shifting manufacturing out of China.
- Guidance Withdrawn: Due to macroeconomic uncertainty and fluid tariff rates.

**【CEO Business Highlights】**
- **Connectivity Business**: 95% of revenue, 15%+ operating margin, steady growth.
- **AI-Powered Voice Services**: 10% YoY growth, targeting 50% full-year growth.
- **Microsoft Teams Integration**: 7% YoY growth, ARR $67 million (up 26% YoY).
- **Cisco Webex Enablement**: $5M+ contract value pipeline over 3 years.
- **Conversational AI Wins**: 6-figure deal with Tier 1 financial institution, 150% YoY growth in Live Hub ARR.
- **Meeting Insights**: 100% QoQ meeting growth, 300% YoY GenAI recap usage.
- **On-Prem Solution**: 20 pipeline opportunities in regulated sectors (gov, defense, healthcare).

**【Q&A Key Takeaways】**
- **Tariff Mitigation**: Moving 80%+ manufacturing out of China by Q3 2025, targeting $3-4M annual cost vs. $10-12M without action.
- **Microsoft Ecosystem**: Operator Connect becoming dominant, direct routing declining.
- **Cisco Strategy**: Leveraging service provider relationships and brand strength to win $M+ deals.
- **AI Pricing**: Passing 30%+ of tariff costs to customers, maintaining 65%+ gross margin.


AudioCodes (AUDC)-6 May 25-2025 Q1 Earnings call transcript

- **Revenue stabilization**: 2024 down 1% vs. 11% in 2023, with services (+10.9% YoY) leading recovery. 
- **AI growth engine**: Voice.ai +30% YoY to $12M, targeting $18M in 2025 (+50%). 
- **2025 Outlook**: $246-254M revenue (+1-4%), EBITDA $34-38M. 
- **Customer momentum**: Q4 bookings +30%, CX deals up 12% QoQ, Meeting Insights PoCs +250% Q4. 
- **Efficient spending**: OpEx growth capped at 1-2%, focusing on sales/marketing to fuel growth.

**【CFO Financial Overview】**
- Q4 2024 revenue: $61.6 million (2.2% QoQ increase), full year 2024: $242.2 million (-0.9% YoY). Services revenue grew 5.4% QoQ to $34.2 million (55.6% of total). 
- Non-GAAP net income: $11.6 million ($0.37 EPS) vs. $4.9 million ($0.16 EPS) in Q3. Full year non-GAAP EPS: $0.87 vs. $0.77 prior year.
- 2025 Guidance: Revenue $246-254 million, non-GAAP EBITDA $34-38 million. 

**【CEO Business Highlights】**
- Enterprise UCaaS/CX business strong: Microsoft Teams revenue up 13% QoQ, Live Teams bookings +30% QoQ. Voice.ai revenue +30% YoY to $12 million (5% of total). 
- Services growth: Professional/managed services +23.1% YoY. Annual Recurring Revenue (ARR) $65 million (+35% YoY). 
- AI investment: 1/3 of R&D budget allocated to Voice.ai, with 2025 bookings expected to exceed $17 million (+40%+ YoY). 

**【Q&A Key Takeaways】**
- Customer optimism on Gen AI adoption driving increased bookings ($20M+ Q4 TCV). 
- CX demand surging: Brazil banking deal ($1M+), North America financial institutions adopting Live CX. 
- Meeting Insights traction: Q4 PoCs +250%, Salesforce CRM integration planned. 
- OpEx strategy: 1-2% YoY growth focused on sales/marketing, no R&D expansion despite AI focus.

AudioCodes (AUDC)-4 Feb 25-2024 Q4 Earnings call transcript

AudioCodes (AUDC)-6 Nov 24-2024 Q3 Earnings call transcript

Audiocodes (AUDC)-30 Jul 24-2024 Q2 Earnings call transcript

Audiocodes (AUDC)-7 May 24-2024 Q1 Earnings call transcript

- **Revenue resilience**: Q4 $63.6M (+3.2% QoQ), full year $244.4M (-11.2% YoY) amid macro challenges.
- **AI-driven growth**: Conversational AI up >50% YoY, Live ARR $48M (+50% YoY).
- **Profitability improvement**: Non-GAAP margin 16.9% (vs 4.9% Q1 2023), 2024 EPS guidance $1-1.15.
- **Strategic wins**: Voca CIC displaces incumbents in $1M+ deals, SBC market share 23.2%.
- **Service provider shift**: -40% YoY decline, but stabilization signals 2024 recovery.

**【CFO Financial Commentary】**
- Q4 2023 revenue: $63.6 million (+3.2% QoQ), full year: $244.4 million (-11.2% YoY). Services revenue: 48.6% of total.
- GAAP net income: $3.7M ($0.12 EPS), Non-GAAP EPS: $0.28 (+12% YoY). Cash: $106.7M.
- 2024 guidance: Revenue $252-267M (+6% mid), Non-GAAP EPS $1-1.15 (+40% mid).

**【CEO Business Highlights】**
- UCaaS growth: Microsoft Teams voice up 13% YoY, Skype for Business down 55% YoY.
- CX success: Voca CIC wins $1M+ deals, Live ARR $48M (+50% YoY).
- SBC leadership: Omdia ranks #1 with 23.2% market share.
- Service provider decline: -40% YoY, but sequential stabilization.
- Gross margin: 67.6% (Non-GAAP), up from 62.1% in Q1 2023.

**【Q&A Highlights】**
- Pipeline visibility: Strong, with Q4 bookings up 50% YoY.
- AI impact: Conversational AI driving 50%+ YoY growth, new SaaS solutions launching.
- Microsoft strategy: Teams phone adoption expected to accelerate with AI apps.
- CX momentum: 40% Q4 growth, 20%+ full year, displacing incumbents in cloud migration.
- Zoom Phone: Limited traction, focus on Microsoft ecosystem.

Actual											0.25	0.32	0.38	0.44	0.37	0.37	0.38	0.39	0.33	0.34	0.32	0.36	0.08	0.16	0.25	0.28	0.17	0.18	0.16	0.37	0.15	0.14	0.17	0.16
Forecast											0.21	0.25	0.2977	0.3631	0.314	0.364	0.364	0.3674	0.361	0.338	0.348	0.3654	0.154	0.1	0.1875	0.2425	0.23	0.19	0.2333	0.2267	0.18	0.155	0.0971	0.16	0.16
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+19.05%	+28.00%	+27.65%	+21.18%	+17.83%	+1.65%	+4.40%	+6.15%	-8.59%	+0.59%	-8.05%	-1.48%	-48.05%	+60.00%	+33.33%	+15.46%	-26.09%	-5.26%	-31.42%	+63.21%	-16.67%	-9.68%	+75.08%	0.00%	0.00%

Actual	--	--	--	--	--	--	--	--	--	--	52.02M	53.52M	56.56M	58.67M	58.84M	60.58M	63.41M	66.10M	66.36M	68.36M	69.72M	70.66M	59.21M	60.02M	61.59M	63.56M	60.08M	60.30M	60.24M	61.55M	60.37M	61.08M	61.55M	62.60M	--
Forecast	--	--	--	--	--	--	--	--	--	--	50.85M	53.04M	55.56M	58.07M	58.02M	60.02M	62.43M	65.57M	66.32M	68.45M	70.41M	72.28M	62.89M	60.25M	61.69M	63.86M	62.53M	60.56M	61.54M	61.86M	60.46M	60.43M	60.67M	62.00M	61.50M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+2.30%	+0.91%	+1.81%	+1.03%	+1.41%	+0.93%	+1.57%	+0.80%	+0.06%	-0.13%	-0.99%	-2.24%	-5.85%	-0.39%	-0.17%	-0.47%	-3.92%	-0.43%	-2.10%	-0.50%	-0.14%	+1.07%	+1.44%	+0.98%	0.00%

AUDC

AUDC fundamentals

AUDC Q1 2026 Earnings Preview

Earnings Call

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AUDC

AUDC fundamentals

AUDC Q1 2026 Earnings Preview

Earnings Call

AUDC Earnings Call Summary for Q1/2026Upcoming Apr 10, 2026

AUDC Earnings Call Summary for Q4/20258:30 AM on Feb 3, 2026

AUDC Earnings Call Summary for Q3/20258:30 AM on Nov 4, 2025

AUDC Earnings Call Summary for Q2/20258:30 AM on Jul 29, 2025

AUDC Earnings Call Summary for Q1/20258:30 AM on May 6, 2025

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