Audit and Tax Fees - Audit fees for 2022 totaled $524,000, an increase of 19% from $440,000 in 2021[287] - Tax fees for 2022 amounted to $194,000, up 81% from $107,000 in 2021[287] - Total fees for 2022 reached $718,000, representing a 31% increase compared to $547,000 in 2021[287] Share Repurchase and Dividends - A total of 1,513,207 ordinary shares were purchased in 2022 at an average price of $25.15 per share[293] - The approximate dollar value of shares that may yet be purchased under the program as of December 31, 2022, is $20,349,414[293] - The company purchased treasury stock amounting to $38,099,000 in 2022[330] - The Company declared cash dividends totaling $11,552 thousand in 2022, an increase from $10,865 thousand in 2021[334] Financial Performance - The company reported a net loss for the year ended December 31, 2022, compared to a profit in the previous year, highlighting a significant shift in financial performance[307] - Total revenues for 2022 reached $275,093 thousand, an increase of 10.5% from $248,920 thousand in 2021[326] - Net income for 2022 was $28,466 thousand, a decrease of 15.4% from $33,751 thousand in 2021[327] - The company reported a total comprehensive income of $17,736 thousand for 2022, down from $31,756 thousand in 2021[327] Assets and Liabilities - Total assets decreased from $349,364,000 in 2021 to $323,831,000 in 2022, a decline of approximately 7.3%[322] - Total liabilities decreased to $134,071 thousand in 2022, down from $143,866 thousand in 2021, a reduction of 6.0%[324] - Total shareholders' equity decreased to $189,760 thousand in 2022, down from $205,498 thousand in 2021, a decline of 7.7%[324] Cash Flow and Investments - Cash flows from operating activities provided $8,281,000 in 2022, significantly lower than $47,344,000 in 2021[332] - The net cash used in investing activities was $(19,673,000) in 2022, compared to $42,622,000 in 2021[332] - Cash, cash equivalents, and restricted cash at the end of 2022 amounted to $24,535 thousand, a significant decrease from $84,523 thousand at the end of 2021[345] Inventory and Receivables - Trade receivables increased from $48,956,000 in 2021 to $56,424,000 in 2022, marking an increase of approximately 15.5%[322] - Inventories rose from $23,988,000 in 2021 to $36,377,000 in 2022, reflecting an increase of about 51.6%[322] - The company reported a decrease in trade receivables of $20,567,000 in 2022, compared to a decrease of $14,438,000 in 2021[332] Research and Development - Research and development expenses increased to $59,842 thousand, up from $53,396 thousand in 2021, reflecting a growth of 12.9%[326] - Research and development grants recognized were $624, $570, and $388 for the years ended December 31, 2022, 2021, and 2020, respectively[362] Taxation - The company recorded a taxable income of $34,183,000 for the year ended December 31, 2022, compared to $39,647,000 in 2021, reflecting a decrease of approximately 11.7%[443] - The current tax expense for domestic operations was $3,707,000 in 2022, significantly higher than $819,000 in 2021, indicating a substantial increase in tax obligations[446] - The effective corporate tax rate for Israeli companies remains at 23% for the years ended December 31, 2022, 2021, and 2020[441] Marketable Securities and Investments - The company’s marketable securities as of December 31, 2022, had a fair value of $78,066,000, down from $89,976,000 in 2021, reflecting unrealized losses of $8,211,000[395] - The company classified all marketable securities as available-for-sale as of December 31, 2022, impacting its financial reporting[342] Internal Controls and Compliance - The company evaluated its disclosure controls and procedures as effective as of December 31, 2022, ensuring timely decisions regarding required disclosures[285] - Internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting[285] - The company maintained effective internal control over financial reporting as of December 31, 2022, based on COSO criteria[317] Geopolitical and Economic Factors - The ongoing conflict in Ukraine may have lasting impacts on the company's financial condition and operations due to geopolitical instability[337] - The company generated a significant portion of its revenues in U.S. dollars, reflecting its primary economic environment[339] Employee Compensation and Benefits - Share-based compensation related to options and RSUs granted to employees and non-employees increased to $15,122,000 in 2022 from $14,164,000 in 2021[332] - The total share-based compensation expenses for the year ended December 31, 2022, amounted to $15,122, compared to $14,164 in 2021 and $8,771 in 2020[375] Acquisitions - The acquisition of Callverso Ltd. was completed on November 10, 2021, for a total purchase price of $3,000,000, which included $2,900,000 in cash and an earn-out potential of up to $6,000,000 over three years based on sales performance[387][388]. - The fair value of identifiable assets acquired from Callverso was estimated at $2,311,000, with net identifiable assets acquired totaling $1,662,000 and goodwill of $1,338,000 attributed to expected synergies[391].

EXHIBIT 1 AudioCodes Press Release | --- | --- | |------------------------------------------------|-----------------------------------------| | | | | Niran Baruch, | Roger L. Chuchen | | VP Finance & Chief Financial Officer | VP, Investor Relations AudioCodes | | AudioCodes | Tel: 732-652-1091 | | Tel: +972-3-976-4000 | Mobile: 347-752-0780 | | niran.baruch@audiocodes.com | roger.chuchen@audiocodes.com | Company Contact AudioCodes Announces Filing of Form 20-F for the Fiscal Year Ended December 31, 2022 Lod ...

AudioCodes Ltd. (NASDAQ:AUDC) Q4 2022 Earnings Conference Call February 7, 2023 8:30 AM ET Company Participants Roger Chuchen - VP, IR Shabtai Adlersberg - President and CEO Niran Baruch - VP, Finance and CFO Conference Call Participants Samad Samana - Jefferies Greg Burns - Sidoti & Company Ryan Koontz - Needham & Company Operator Good morning everybody, and welcome to the AudioCodes' Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A que ...

4Q 2022 Earnings Call Supplementary Slides Safe Harbor This presentation contains forward-looking statements. All statements contained in this presentation other than statements of historical facts, including, without limitation, future financial and business performance for the fourth quarter 2022, attractiveness of our product offerings and platform and the value proposition of our products, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "gui ...

Exhibit 1 AudioCodes Press Release P R E S S R E L E A S E Company Contacts Niran Baruch, Chief Financial Officer AudioCodes Tel: +972-3-976-4000 niran.baruch@audiocodes.com Lod, Israel – February 7, 2023 - AudioCodes (NASDAQ: AUDC) Press Release Fourth Quarter and Full Year 2022 Highlights • Quarterly revenues increased by 6.9% year-over-year to $70.7 million; full 2022 year revenues increased by 10.5% to $275.1 million. • Quarterly service revenues increased by 17.2% year-over-year to $28.6 million; full ...

AudioCodes Ltd. (NASDAQ:AUDC) Q3 2022 Earnings Conference Call November 2, 2022 8:30 AM ET Company Participants Roger Chuchen – Vice President of Investor Relations Shabtai Adlersberg – President and Chief Executive Officer Niran Baruch – Vice President of Finance and Chief Financial Officer Conference Call Participants Ryan MacWilliams – Barclays Greg Burns – Sidoti & Company Ryan Koontz – Needham & Company Operator Good morning, ladies and gentlemen, and welcome to the AudioCodes' Third Quarter 2022 Earni ...

AudioCodes Ltd. (NASDAQ:AUDC) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET Company Participants Roger Chuchen - Vice President, Investor Relations Shabtai Adlersberg - President & Chief Executive Officer Niran Baruch - Vice President, Finance & Chief Financial Officer Conference Call Participants Greg Burns - Sidoti & Company Samad Samana - Jefferies Ryan Koontz - Needham & Company Tal Liani - Bank of America Operator Greetings ladies and gentlemen and welcome to the AudioCodes' Second Quarter ...

AudioCodes Ltd. (NASDAQ:AUDC) Q1 2022 Earnings Conference Call May 2, 2022 8:30 AM ET Company Participants Roger Chuchen - Vice President of Investor Relations Shabtai Adlersberg - President & Chief Executive Officer Niran Baruch - Vice President of Finance & Chief Financial Officer Dmitry Netis - Chief Strategy Officer and Head of Corporate Development Conference Call Participants Greg Burns - Sidoti and Company Jack McGuire - Barclays Ryan Koontz - Needham & Company, LLC Madeline Brooks - Bank of America ...