AudioCodes(AUDC) Prnewswire·2025-02-04 07:00Core Insights - AudioCodes reported its financial results for Q4 and full year 2024, showing a slight decline in overall revenues but growth in service revenues and net income [2][3][5]. Financial Performance - Q4 2024 revenues were 63.6 million in Q4 2023, while full year revenues were 244.4 million in 2023 [3][8]. - Q4 2024 EBITDA was 7.9 million in Q4 2023, but full year EBITDA increased to 17.0 million in 2023 [3][4]. - Net income for Q4 2024 was 0.22 per diluted share, compared to 0.12 per diluted share in Q4 2023. Full year net income rose to 0.50 per diluted share, from 0.28 per diluted share in 2023 [5][6]. Non-GAAP Metrics - On a Non-GAAP basis, Q4 2024 net income was 0.37 per diluted share, compared to 0.28 per diluted share in Q4 2023. Full year Non-GAAP net income was 0.87 per diluted share, up from 0.77 per diluted share in 2023 [6][32]. Revenue Breakdown - Service revenues in Q4 2024 increased by 10.9% year-over-year to 130.2 million [8]. - The Enterprise UCaaS and CX business accounted for 92% of revenues in Q4, with Microsoft business growing by 13% in the quarter and 6% for the full year [13][14]. Cash Flow and Shareholder Returns - Net cash provided by operating activities was 35.3 million for the full year 2024 [10][11]. - The company repurchased 634,533 ordinary shares for 0.18 per share, totaling approximately $5.3 million [16][19]. Strategic Outlook - The company expects continued growth in recurring revenue, particularly in its Voice.ai and managed services segments, projecting a 40% to 50% growth in AI business applications for 2025 [14][15].