AudioCodes Ltd
NASDAQ:AUDC
AudioCodes Ltd
AudioCodes Ltd. engages in the development, manufacture, and market of products for transferring voice and data over the internet. The firm enables enterprises and service providers to build and operate all IP voice networks in unified communications, contact centers, and hosted business services. The firm categorizes its products and services into two main business lines: network and technology. Network products consist of customer premises equipment (CPE), gateways for the enterprise and service provider (or carrier) markets and of carrier-grade-oriented low- and mid-density media gateways for service providers and Enterprise Session Border Controls (ESBCs). Complementing its media gateways and session border gateways as network products are its multi-service business routers (MSBR), Internet Protocol (IP) phones, media servers, mobile VoIP solutions and value added application products. The firm offers a range of products, solutions and services worldwide.
AudioCodes Ltd. engages in the development, manufacture, and market of products for transferring voice and data over the internet. The firm enables enterprises and service providers to build and operate all IP voice networks in unified communications, contact centers, and hosted business services. The firm categorizes its products and services into two main business lines: network and technology. Network products consist of customer premises equipment (CPE), gateways for the enterprise and service provider (or carrier) markets and of carrier-grade-oriented low- and mid-density media gateways for service providers and Enterprise Session Border Controls (ESBCs). Complementing its media gateways and session border gateways as network products are its multi-service business routers (MSBR), Internet Protocol (IP) phones, media servers, mobile VoIP solutions and value added application products. The firm offers a range of products, solutions and services worldwide.
Revenue Growth: AudioCodes reported Q4 revenue of $62.6 million, up 1.7% year-over-year, and full-year 2025 revenue of $245.6 million, up 1.4%.
Services & Recurring Revenue: Annual recurring revenue from live managed services and VoiceAI reached $79 million, up 22% year-over-year; conversational AI revenue grew 35% for the year.
Profit Pressures: Net income, operating income, and margins declined compared to last year, mainly due to continued investment in VoiceAI and higher operating expenses.
VoiceAI Acceleration: The VoiceAI business, now 7% of revenue, grew 35% in 2025 with expectations of 40–50% annual growth ahead. Management targets $50 million in VoiceAI revenue by 2028.
2026 Guidance: Management expects revenue of $247–255 million and non-GAAP EPS of $0.60–$0.75 in 2026, with strong VoiceAI and stable connectivity business contributions.
Margin Outlook: Gross margin expected to remain in the 65–68% range in 2026, with a lower tariff cost impact than 2025.
Dividend & Buyback: Declared a $0.20 per share dividend and continued share repurchases in Q4.
