Audiocodes Ltd. · NASDAQ:AUDC
Audiocodes — Q3 2024 Earnings Presentation
15 slides from Audiocodes's earnings presentation, 2024
Slide 1: Earnings Call Supplementary Slides
Earnings Call Supplementary Slides
Slide 2: 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 third quarter 2024, attractiveness of our product offerings and platform an
Slide 3: AudioCodes Scale & Reach
AudioCodes Scale & 9 #1 Reach of Fortune Top Microsoft Teams Phone Partner 10 Enterprises We are the leading provider of enterprise voice cloud services and conversational AI applications 65 of Fortune 100 935 120 Countries Employees as Companies are of 9/30/24 Customers 3Q 2024
Slide 4: 3Q'24 Financial Highlights
Total revenues of $60.2M vs. $60.3M in 2Q’24, down 0.1% QoQ 3Q’24 Financial Service revenues of $32.5M vs $32.0M in 2Q’24, up 1.7% QoQ Highlights Non-GAAP gross margin of 65.6% vs. 65.8% in 2Q’24 Non-GAAP operating margin at 11.7% vs. 11.9% in 2Q’24 Non-GAAP EBITDA margin of 13.1% vs. 13.8% in 2Q’24
Slide 5: 3Q'24 Business Performance
Microsoft Teams 3Q’24 business increased 0.4% YoY, within Customer Experience Business which Live Teams (CX) business increased 4.4% YoY Performance grew 21.4% YoY Conversational AI dollar value of Live ARR increased contracts signed 40% YoY increased ~50% YoY 3Q 2024
Slide 6: 3Q'24 Operational and Customer Highlights
Meeting Insights expands support to Zoom meetings, in addition to Microsoft Teams, providing a unified meeting intelligence solution across UCaaS platforms 3Q’24 Signed a 36-month contract with a multi-national industrial Operational equipment dealer, providing Live Pro, managed gateway and device a
Slide 7: Non-GAAP Gross Margin
Non-GAAP 70.0% Gross Margin 67.6% 67.3% 65.8% 65.6% 65.2% 65.0% 60.0% 3Q:23 4Q:23 1Q:24 2Q:24 3Q:24 3Q 2024
Slide 8: Non-GAAP EBITDA Margin
20.0% Non- 17.7% GAAP 16.4% EBITDA 15.0% 13.8% 13.1% Margin 11.3% 10.0% 5.0% 0.0% 3Q:23 4Q:23 1Q:24 2Q:24 3Q:24 3Q 2024
Slide 9: Non-GAAP EBITDA (in million)
Non-GAAP $12.0 $11.2 EBITDA $10.1 $8.3 $7.9 $8.0 (in million) $6.8 $4.0 $0.0 3Q:23 4Q:23 1Q:24 2Q:24 3Q:24 3Q 2024
Slide 10: Non-GAAP Operating Margin
20.0% Non- 16.9% GAAP 15.5% Operating 15.0% Margin 11.9% 11.7% 10.5% 10.0% 5.0% 0.0% 3Q:23 4Q:23 1Q:24 2Q:24 3Q:24 3Q 2024
Slide 11: AudioCodes Live ARR
AudioCodes (USD Millions) Live ARR $100 $64-$70 $60 $48 $50 $43 $0 3Q:23 3Q:24 2023 2024 Target 3Q 2024
Slide 12: 2024 Outlook
2024 Outlook Revenues Non-GAAP EBITDA (in million) (in million) $240 - $250 $33-$39 3Q 2024
Slide 13: Financial Model And Long-Term Targets
Long-Term 3Q23 4Q23 1Q24 2Q24 3Q24 Financial Revenue Targets Model And growth year- over-year -11.7% -10.0% 1.5% 0.5% -2.2% 6%-12% Long-Term Targets Non-GAAP Gross margin 67.3% 67.6% 65.2% 65.8% 65.6% 65%-68% Non-GAAP OPEX as % of revenues 51.8% 50.7% 54.7% 53.9% 53.9% 47%-50% Non-GAAP Operating mar
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP to Non- GAAP Reconciliation 3Q 2024
Slide 15: Thank You
Thanl CE audiocodes