Business
AudioCodes Reports First Quarter 2025 Results
OR YEHUDA, Israel, May 6, 2025 /PRNewswire/ -- First Quarter Highlights Quarterly revenues increase by 0.5% year-over-year to $60.4 million;Quarterly service
About this update from Audiocodes Ltd.
[{"type":"text","content":"OR YEHUDA, Israel, May 6, 2025 /PRNewswire/ -- \n\nFirst Quarter Highlights\nQuarterly revenues increase by 0.5% year-over-year to $60.4 million;Quarterly service revenues increased by 3.4% year-over-year to $32.6 million;GAAP results:Quarterly GAAP gross margin was 64.8%;Quarterly GAAP operating margin was 6.0%;Quarterly GAAP EBITDA was $4.6 million;Quarterly GAAP net income was $4.0 million, or $0.13 per diluted share. Non-GAAP results:Quarterly Non-GAAP gross margin was 65.2%;Quarterly Non-GAAP operating margin was 8.9%;Quarterly Non-GAAP EBITDA was $6.2 million;Quarterly Non-GAAP net income was $4.7 million, or $0.15 per diluted share.Net cash provided by operating activities was $13.5 million for the quarter.AudioCodes repurchased 500,000 of its ordinary shares during the quarter at an aggregate cost of $5.2 million.Details\nAudioCodes (NASDAQ: AUDC), a leading provider of unified communications voice, contact center and conversational AI applications and services for enterprises, today announced its financial results for the first quarter ended March 31, 2025.\nRevenues for the first quarter of 2025 were $60.4 million compared to $60.1 million for the first quarter of 2024.\nEBITDA for the first quarter of 2025 was $4.6 million compared to $3.8 million for the first quarter of 2024.\nOn a Non-GAAP basis, EBITDA for the first quarter of 2025 was $6.2 million compared to $6.7 million for the first quarter of 2024.\nNet income was $4.0 million, or $0.13 per diluted share, for the first quarter of 2025 compared to net income of $2.1 million, or $0.07 per diluted share, for the first quarter of 2024.\nOn a Non-GAAP basis, net income was $4.7 million, or $0.15 per diluted share, for the first quarter of 2025 compared to $5.2 million, or $0.17 per diluted share, for the first quarter of 2024.\nNon-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; (iii) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies; (iv) tax impact which relates to our Non-GAAP adjustments; and (v) in Q1 2024 non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company's new headquarters. A reconcil...