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AUDC

AudioCodes Ltd.

AUDC

AudioCodes Ltd. • NASDAQ
$9.00 ▲ 1.24% (+0.11)
Market Cap $262.49 M
52w High $12.72
52w Low $8.01
Dividend Yield 0.20%
P/E 19.57
Volume 37.10K
Outstanding Shares 29.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $61.547M ▲ $36.224M ▼ $2.732M ▲ 4.439% ▲ $0.097 ▲ $5.308M ▲
Q2-2025 $61.078M ▲ $36.524M ▲ $306K ▼ 0.501% ▼ $0.011 ▼ $3.559M ▼
Q1-2025 $60.374M ▼ $35.489M ▼ $4.016M ▼ 6.652% ▼ $0.14 ▼ $4.599M ▲
Q4-2024 $61.554M ▲ $36.617M ▲ $6.775M ▲ 11.007% ▲ $0.23 ▲ $3.398M ▼
Q3-2024 $60.243M $34.428M $2.679M 4.447% $0.089 $5.876M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $73.964M ▼ $331.804M ▼ $158.064M ▲ $173.74M ▼
Q2-2025 $79.212M ▲ $339.832M ▲ $151.757M ▲ $188.075M ▲
Q1-2025 $66.536M ▲ $330.475M ▼ $144.571M ▲ $185.904M ▼
Q4-2024 $62.385M ▲ $335.901M ▲ $144.087M ▲ $191.814M ▲
Q3-2024 $47.969M $326.433M $139.539M $186.894M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.732M ▲ $5.104M ▼ $497.399K ▲ $-19.762M ▼ $-13.689M ▼ $3.328M ▼
Q2-2025 $306K ▼ $7.725M ▼ $-1.739M ▼ $-6.5M ▲ $-514K ▼ $5.94M ▼
Q1-2025 $4.016M ▼ $13.457M ▼ $1.398M ▼ $-10.471M ▼ $4.384M ▼ $11.983M ▲
Q4-2024 $6.775M ▲ $15.311M ▲ $25.722M ▲ $-5.806M ▲ $35.227M ▲ $11.799M ▲
Q3-2024 $2.679M $7.852M $3.844M $-9.023M $2.673M $2.347M

Revenue by Products

Product Q4-2013Q2-2020Q4-2020Q2-2021
Product
Product
 $0 ▲$70.00M ▲$70.00M ▲$70.00M ▲
Service
Service
 $0 ▲$30.00M ▲$40.00M ▲$40.00M ▲
Networking
Networking
 $30.00M ▲$0 ▼$0 ▲$0 ▲
Technology
Technology
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the last few years, with a small step down from earlier highs rather than a clear growth surge. Gross margins remain healthy, showing that the company still adds solid value on each sale. Operating and net profits are positive but not especially strong, and they dipped in the middle of the period before recovering. Overall, this looks like a business that is profitable and resilient, but not yet delivering fast top-line or earnings growth, and whose per‑share earnings have been somewhat choppy over time.

Balance Sheet

Balance Sheet The balance sheet appears conservative. Total assets and shareholder equity have been broadly stable, suggesting no major overexpansion or contraction. Cash levels have recently improved after a weaker patch, providing more financial flexibility, while debt is present but not excessive relative to the overall size of the business. This combination points to a generally solid financial foundation, though not a cash-rich fortress. Stability rather than aggressive leverage is the defining feature here.

Cash Flow

Cash Flow Operating cash flow has remained positive over the period, but it has moved up and down, with a noticeable soft spot in the middle years and a rebound more recently. Free cash flow has stayed positive, which is a key strength, even though it has not grown consistently. Capital spending is modest, meaning the company is not heavily burdened by large investment projects. Overall, cash generation supports ongoing operations and investment, but the pattern is uneven and does not yet signal powerful, accelerating cash flow growth.

Competitive Edge

Competitive Edge AudioCodes operates in a crowded communications equipment and software market but has carved out a clear niche in voice networking, especially around session border controllers and Microsoft Teams–related solutions. Its long technical track record, certification and deep integration with Microsoft, and ability to offer both devices and software-based services give it a meaningful edge for enterprises standardizing on Microsoft 365. At the same time, dependence on a few major ecosystems, intense competition from larger networking and UC vendors, and rapid technology shifts all pose ongoing risks to its market share and pricing power.

Innovation and R&D

Innovation and R&D The company has shifted from being mainly a hardware and VoIP gateway provider to emphasizing cloud, software, and AI-driven voice solutions. Platforms like AudioCodes Live, Voca CIC, and VoiceAI Connect show a clear push into managed services, contact-center modernization, and conversational AI, all tightly tied into Microsoft Azure and Teams. This strategy increases the share of recurring revenue and deepens customer relationships, but it also demands sustained investment in R&D and execution against well-funded competitors in AI, UCaaS, and CCaaS. Innovation is clearly a core strength, yet its commercial payoff will depend on continued uptake of these newer offerings.

Summary

AudioCodes looks like a specialized, profitable communications technology company that has maintained stable finances while working through a transition from traditional hardware to software, cloud, and AI-led services. Its income statement and cash flows point to resilience and positive earnings, but not yet to rapid, consistent growth. The balance sheet is sound and not overly leveraged, giving room to pursue its strategic shift. Competitively, its long-standing expertise in voice and its deep Microsoft partnership are strong assets, but they come with concentration and competitive risks. The company’s future trajectory will largely hinge on how successfully it scales its AI- and cloud-based platforms and converts its technical innovation and partnerships into durable, growing streams of recurring revenue.

NEWS

November 4, 2025 · 2:00 AM UTC

AudioCodes Reports Third Quarter 2025 Results

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October 13, 2025 · 9:00 AM UTC

AudioCodes Announces Third Quarter 2025 Reporting Date

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September 17, 2025 · 9:17 AM UTC

AudioCodes Expands Voice CPaaS Offering with AI Agents

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