AudioCodes announced its financial results for the fourth quarter and full year ended December 31, 2024. Fourth-quarter revenues were $61.6 million, compared to $63.6 million in Q4 2023, while full-year 2024 revenues were $242.2 million, a slight decrease from $244.4 million in 2023. GAAP net income for Q4 2024 was $6.8 million, or $0.22 per diluted share, and for the full year was $15.3 million, or $0.50 per diluted share.
On a non-GAAP basis, net income for Q4 2024 was $11.6 million, or $0.37 per diluted share, and for the full year was $27.3 million, or $0.87 per diluted share, showing an increase from $25.0 million, or $0.77 per diluted share, in 2023. The company generated $35.3 million in net cash from operating activities for the full year 2024, demonstrating robust cash flow generation.
AudioCodes reported strong growth in key business lines, with Microsoft business up 13% in Q4 and 6% for the full year. Live managed services within Microsoft business increased 30% year-over-year, reaching 47% of the total Microsoft business. The Voice.ai business grew 30% for the full year 2024, contributing to an Annual Recurring Revenue (ARR) of $65 million, representing 35% year-over-year growth. The Board of Directors declared a cash dividend of $0.18 per share, payable on March 6, 2025.
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