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ATRenew Inc. Reports Unaudited Third Quarter 2024 Financial Results

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2 years ago

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SHANGHAI, Nov. 20, 2024 /PRNewswire/ — ATRenew Inc. (“ATRenew” or the “Company”) (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced its unaudited financial results for the three months ended September 30, 2024. 

Third Quarter 2024 Highlights

Total net revenues grew by 24.4% to RMB4,051.2 million (US$577.3 million) from RMB3,256.8 million in the third quarter of 2023.Income from operations was RMB24.9 million (US$3.5 million), compared to a loss from operations of RMB28.1 million in the third quarter of 2023. Adjusted income from operations (non-GAAP)[1] was RMB104.0 million (US$14.8 million), compared to RMB73.8 million in the third quarter of 2023.Number of consumer products transacted[2] was 9.1 million compared to 8.2 million in the third quarter of 2023.

Mr. Kerry Xuefeng Chen, Founder, Chairman, and Chief Executive Officer of ATRenew, commented, “We are delighted to report that our total net revenues reached RMB4.05 billion in the third quarter of 2024, representing a robust year-over-year growth of 24.4%. We are particularly encouraged by the widespread adoption of our consumer electronics trade-in services, which provide consumers with a seamless experience and competitive pricing. Our AHS stores maintain their industry-leading position, serving as the preferred destination for users to recycle reusable consumer products and purchase quality-assured, value-for-money pre-owned electronic devices.”

Mr. Rex Chen, Chief Financial Officer of ATRenew, added, “The third quarter marked another milestone in our path to enhanced profitability, as we achieved positive GAAP income from operations and our non-GAAP income from operations exceeded RMB100 million for the first time. These results reflect our successful initiatives to optimize operating expenses and the diminishing impact of amortization expenses from historical acquisitions. We also demonstrated our commitment to shareholder returns by repurchasing over US$12 million of our shares during the quarter. Looking ahead, we remain focused on driving operational efficiency and delivering sustainable value to our users and shareholders.”

[1]. See “Reconciliations of GAAP and Non-GAAP Results” for more information.

[2]. “Number of consumer products transacted” represents the number of consumer products distributed to merchants and consumers through transactions on the Company’s PJT Marketplace, Paipai Marketplace and other channels the Company operates in a given period, prior to returns and cancellations, excluding the number of consumer products collected through AHS Recycle; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace, Paipai Marketplace and other channels the Company operates through the distribution process to end consumer.

Third Quarter 2024 Financial Results

REVENUE

Total net revenues increased by 24.4% to RMB4,051.2 million (US$577.3 million) from RMB3,256.8 million in the same period of 2023.

Net product revenues increased by 25.6% to RMB3,672.2 million (US$523.3 million) from RMB2,924.0 million in the same period of 2023. The increase was primarily attributable to an increase in the sales of pre-owned consumer electronics both through the Company’s online and offline channels.Net service revenues increased by 13.9% to RMB379.0 million (US$54.0 million), compared to RMB332.8 million in the same period of 2023. This increase was primarily due to an increase in the service revenue generated from PJT Marketplace and multi-category recycling business.

OPERATING COSTS AND EXPENSES

Operating costs and expenses were RMB4,028.1 million (US$574.0 million), compared to RMB3,307.5 million in the same period of 2023, representing an increase of 21.8%.

Merchandise costs were RMB3,242.8 million (US$462.1 million), compared to RMB2,611.0 million in the same period of 2023, representing an increase of 24.2%. This was primarily due to the growth in product sales.Fulfillment expenses were RMB347.3 million (US$49.5 million), compared to RMB287.7 million in the same period of 2023, representing an increase of 20.7%. The increase was primarily due to (i) an increase in personnel costs and logistics expenses as the Company conducted more recycling and transaction activities compared with the same period of 2023, and (ii) an increase in operation center related expenses as the Company expanded its store networks in the third quarter of 2024.Selling and marketing expenses were RMB315.3 million (US$44.9 million), compared to RMB299.5 million in the same period of 2023, representing an increase of 5.3%. The increase was primarily due to  (i) an increase in advertising expenses and promotional campaign related expenses, and (ii) an increase in share-based compensation expenses. The increase was partially offset by a decrease in amortization of intangible assets and deferred cost resulting from assets and business acquisitions as the maturity of some intangible assets and deferred cost in the third quarter of 2023.General and administrative expenses were RMB69.3 million (US$9.9 million), compared to RMB69.8 million in the same period of 2023, representing a decrease of 0.7%, primarily due to a decrease in share-based compensation expenses. The decrease was partially offset by an increase in other personnel cost.Technology and content expenses were RMB53.4 million (US$7.6 million), compared to RMB39.4 million in the same period of 2023, representing an increase of 35.5%. The increase was primarily due to an increase in personnel costs in connection with the ongoing maintenance of the Company’s operation centers and system.

INCOME (LOSS) FROM OPERATIONS

Income from operations was RMB24.9 million (US$3.5 million), compared to a loss from operations of RMB28.1 million in the same period of 2023.

Adjusted income from operations (non-GAAP) was RMB104.0 million (US$14.8 million), compared to RMB73.8 million in the same period of 2023.

NET INCOME (LOSS)

Net income was RMB17.9 million (US$2.6 million), compared to a net loss of RMB44.2 million in the same period of 2023.

Adjusted net income (non-GAAP) was RMB90.1 million (US$12.8 million), compared to RMB47.6 million in the same period of 2023.

BASIC AND DILUTED NET INCOME PER ORDINARY SHARE

Basic and diluted net income per ordinary share were RMB0.11 (US$0.02), compared to basic and diluted net loss of RMB0.27 in the same period of 2023.

Adjusted basic and diluted net income per ordinary share (non-GAAP) were RMB0.56 (US$0.08) and RMB0.55 (US$0.08), compared to RMB0.30 and RMB0.29 in the same period of 2023.

CASH AND CASH EQUIVALENTS, RESTRICTED CASH, SHORT-TERM INVESTMENTS AND FUNDS RECEIVABLE FROM THIRD PARTY PAYMENT SERVICE PROVIDERS

Cash and cash equivalents, restricted cash, short-term investments and funds receivable from third party payment service providers were RMB2,350.5 million (US$334.9 million) as of September 30, 2024, as compared to RMB2,854.4 million as of December 31, 2023.

Business Outlook

For the fourth quarter of 2024, the Company currently expects its total revenues to be between RMB4,740.0 million and RMB4,840.0 million, representing an increase of 22.4% to 24.9% year-over-year. This forecast only reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

Recent Development

On August 29, 2024, ATRenew announced an improvement in its Environmental, Social and Governance (ESG) score as assessed by S&P Global’s Corporate Sustainability Assessment in 2024, placing it in the 93rd percentile among its global RTS retailing industry peers. This is primarily attributable to ATRenew’s commitment to ESG, particularly greater transparency in its climate strategy, human capital management, and business ethics.

During the third quarter of 2024, ATRenew repurchased a total of approximately 4.9 million ADSs for approximately US$12.1 million under its current share repurchase program which authorizes the Company to repurchase up to US$50 million worth of its shares (including ADSs) through June 27, 2025. As of September 30, 2024, the Company had repurchased a total of approximately 8.2 million ADSs for approximately US$20.1 million under this share repurchase program.

Conference Call Information

The Company’s management will hold a conference call on Wednesday, November 20, 2024 at 07:00 A.M. Eastern Time (or 08:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Access Code:

3668505

The replay will be accessible through November 27, 2024 by dialing the following numbers:

International:

1-412-317-0088

United States Toll Free:

1-877-344-7529

Access Code:                    

3972162

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at ir.atrenew.com.

About ATRenew Inc.

Headquartered in Shanghai, ATRenew Inc. operates a leading technology-driven pre-owned consumer electronics transactions and services platform in China under the brand ATRenew. Since its inception in 2011, ATRenew has been on a mission to give a second life to all idle goods, addressing the environmental impact of pre-owned consumer electronics by facilitating recycling and trade-in services, and distributing the devices to prolong their lifecycle. ATRenew’s open platform integrates C2B, B2B, and B2C capabilities to empower its online and offline services. Through its end-to-end coverage of the entire value chain and its proprietary inspection, grading, and pricing technologies, ATRenew sets the standard for China’s pre-owned consumer electronics industry. ATRenew is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024.

Use of Non-GAAP Financial Measures

The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses adjusted income from operations, adjusted net income and adjusted net income per ordinary share as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Adjusted income from operations is loss from operations excluding the share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income is net loss excluding the share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income per ordinary share is adjusted net income attributable to ordinary shareholders divided by weighted average number of shares used in calculating net loss per ordinary share.

The Company presents non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans. The Company believes that adjusted income from operations and adjusted net income help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that are included in loss from operations and net loss. The Company also believes that the use of non-GAAP financial measures facilitates investors’ assessment of the Company’s operating performance. The Company believes that adjusted income from operations and adjusted net income provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. The share-based compensation expenses, amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions have been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company’s. In light of the foregoing limitations, the non-GAAP financial measures for the period should not be considered in isolation from or as an alternative to income from operations, net income, and net income attributable to ordinary shareholders per share, or other financial measures prepared in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliations of GAAP and Non-GAAP Results.”

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ATRenew’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ATRenew’s strategies; ATRenew’s future business development, financial condition and results of operations; ATRenew’s ability to maintain its relationship with major strategic investors; its ability to facilitate pre-owned consumer electronics transactions and provide relevant services; its ability to maintain and enhance the recognition and reputation of its brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ATRenew’s filings with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com 

In the United States:
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461

 

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share and per share and otherwise noted)

As of December 31,

As of September 30,

2023

2024

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

1,978,696

1,347,338

191,994

Restricted cash

210,000

132,000

18,810

Short-term investments

410,547

630,123

89,792

Amount due from related parties, net

89,592

218,771

31,175

Inventories

1,017,155

678,026

96,618

Funds receivable from third party payment service
providers

253,107

241,047

34,349

Prepayments and other receivables, net

567,622

754,617

107,532

Total current assets

4,526,719

4,001,922

570,270

Non-current assets:

Long-term investments

467,095

558,221

79,546

Property and equipment, net

148,223

159,236

22,691

Intangible assets, net

270,631

100,496

14,321

Other non-current assets

80,411

149,115

21,249

Total non-current assets

966,360

967,068

137,807

TOTAL ASSETS

5,493,079

4,968,990

708,077

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term borrowings

349,931

307,291

43,789

Accounts payable

532,293

105,314

15,007

Contract liabilities

119,715

81,571

11,624

Accrued expenses and other current liabilities

465,123

478,145

68,135

Accrued payroll and welfare

146,371

148,945

21,224

Amount due to related parties

78,032

116,255

16,566

Total current liabilities

1,691,465

1,237,521

176,345

Non-current liabilities:

Operating lease liabilities, non-current

22,495

80,366

11,452

Deferred tax liabilities

67,658

42,099

5,999

Total non-current liabilities

90,153

122,465

17,451

TOTAL LIABILITIES

1,781,618

1,359,986

193,796

TOTAL SHAREHOLDERS’ EQUITY

3,711,461

3,609,004

514,281

TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY

5,493,079

4,968,990

708,077

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Net revenues

Net product revenues

2,923,970

3,672,239

523,290

8,135,824

10,383,813

1,479,682

Net service revenues

332,787

378,999

54,007

956,386

1,095,264

156,074

Operating (expenses) income (1)(2)

Merchandise costs

(2,611,018)

(3,242,843)

(462,101)

(7,188,902)

(9,181,300)

(1,308,325)

Fulfillment expenses

(287,704)

(347,270)

(49,486)

(822,913)

(985,325)

(140,408)

Selling and marketing expenses

(299,491)

(315,293)

(44,929)

(933,835)

(990,607)

(141,160)

General and administrative expenses

(69,826)

(69,302)

(9,875)

(203,794)

(215,671)

(30,733)

Technology and content expenses

(39,430)

(53,396)

(7,609)

(131,905)

(153,391)

(21,858)

Other operating income, net

22,640

1,751

250

32,512

23,082

3,289

Income (loss) from operations

(28,072)

24,885

3,547

(156,627)

(24,135)

(3,439)

Interest expense

(2,186)

(3,615)

(515)

(5,498)

(12,332)

(1,757)

Interest income

11,083

8,686

1,238

24,658

20,611

2,937

Other (loss) income, net

(4,428)

47

7

(6,719)

(41,305)

(5,886)

Income (loss) before income taxes and share
of loss in equity method investments

(23,603)

30,003

4,277

(144,186)

(57,161)

(8,145)

Income tax benefits

10,047

5,949

848

33,607

24,536

3,496

Share of loss in equity method investments

(30,632)

(18,069)

(2,575)

(48,449)

(53,028)

(7,556)

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Net income (loss) per ordinary share:

Basic

(0.27)

0.11

0.02

(0.99)

(0.53)

(0.08)

Diluted

(0.27)

0.11

0.02

(0.99)

(0.53)

(0.08)

Weighted average number of shares used in
calculating net income (loss) per ordinary
share

Basic

161,338,983

161,405,774

161,405,774

161,393,190

162,011,110

162,011,110

Diluted

161,338,983

164,258,720

164,258,720

161,393,190

162,011,110

162,011,110

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Foreign currency translation adjustments

(5,676)

(7,093)

(1,011)

15,897

(7,183)

(1,024)

Total comprehensive income (loss)

(49,864)

10,790

1,539

(143,131)

(92,836)

(13,229)

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS) (CONTINUED)

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

(1) Includes share-based compensation
expenses as follows:

Fulfillment expenses

(5,362)

(3,021)

(430)

(17,910)

(15,992)

(2,279)

Selling and marketing expenses

(5,165)

(12,220)

(1,741)

(13,266)

(56,792)

(8,093)

General and administrative expenses

(19,239)

(13,854)

(1,974)

(56,182)

(45,924)

(6,544)

Technology and content expenses

(5,218)

(3,657)

(521)

(15,649)

(13,611)

(1,940)

(2) Includes amortization of intangible assets
and deferred cost resulting from assets and
business acquisitions as follows:

Selling and marketing expenses

(66,412)

(46,263)

(6,592)

(222,337)

(169,154)

(24,104)

Technology and content expenses

(482)

(130)

(19)

(1,446)

(981)

(140)

 

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Income (loss) from operations

(28,072)

24,885

3,547

(156,627)

(24,135)

(3,439)

Add:

Share-based compensation
expenses

34,984

32,752

4,666

103,007

132,319

18,856

Amortization of intangible assets
and deferred cost resulting from
assets and business acquisitions

66,894

46,393

6,611

223,783

170,135

24,244

Adjusted income from operations
(non-GAAP)

73,806

104,030

14,824

170,163

278,319

39,661

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Add:

Share-based compensation
expenses

34,984

32,752

4,666

103,007

132,319

18,856

Amortization of intangible assets
and deferred cost resulting from
assets and business acquisitions

66,894

46,393

6,611

223,783

170,135

24,244

Less:

Tax effects of amortization of
intangible assets and deferred cost
resulting from assets and business
acquisitions

(10,047)

(6,972)

(994)

(33,607)

(25,559)

(3,642)

Adjusted net income (non-
GAAP)

47,643

90,056

12,833

134,155

191,242

27,253

Adjusted net income per
ordinary share (non-GAAP):

Basic

0.30

0.56

0.08

0.83

1.18

0.17

Diluted

0.29

0.55

0.08

0.80

1.16

0.17

Weighted average number of
shares used in calculating net
income per ordinary share

Basic

161,338,983

161,405,774

161,405,774

161,393,190

162,011,110

162,011,110

Diluted

166,112,358

164,258,720

164,258,720

167,609,332

165,040,389

165,040,389

 

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SOURCE ATRenew Inc.

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AudioCodes Reports Third Quarter 2026 Results

Published

14 minutes ago

on

November 4, 2026

By

OR YEHUDA, Israel, Nov. 4, 2026 /PRNewswire/ — 

Third Quarter Highlights

Quarterly revenues increased by 4.2% year-over-year to $64.1 million;Quarterly services revenues increased by 19.9% year-over-year to $37.1 million;GAAP results:
– Quarterly GAAP gross margin was 65.7%;
– Quarterly GAAP operating margin was 5.3%;
– Quarterly GAAP net income was $3.6 million, or $0.15 per diluted share;Non-GAAP results:
– Quarterly Non-GAAP gross margin was 65.8%;
– Quarterly Non-GAAP operating margin was 7.4%;
– Quarterly Non-GAAP net income was $4.0 million, or $0.16 per diluted share;Net cash provided by operating activities was $4.1 million for the quarter;AudioCodes repurchased 1,517,568 of its ordinary shares during the quarter at an aggregate cost of $15.1 million.

Details

AudioCodes (NASDAQ: AUDC) (the “Company”), a global leader in enterprise voice and VoiceAI business solutions, today announced its financial results for the third quarter ended September 30, 2026.

Revenues for the third quarter of 2026 were $64.1 million compared to $61.5 million for the third quarter of 2025.

Net income was $3.6 million, or $0.15 per diluted share, for the third quarter of 2026 compared to net income of $2.7 million, or $0.10 per diluted share, for the third quarter of 2025.

On a non-GAAP basis, net income was $4.0 million, or $0.16 per diluted share, for the third quarter of 2026 compared to $4.9 million, or $0.17 per diluted share, for the third quarter of 2025.

Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; and (iii) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income and non-GAAP operating margin exclude: (i) share-based compensation expenses and (ii) amortization expenses related to intangible assets. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures are provided in the tables that accompany the condensed consolidated financial statements contained in this press release.

Net cash provided by operating activities was $4.1 million for the third quarter of 2026. Cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments were $47.1 million as of September 30, 2026, compared to $75.7 million as of December 31, 2025. The decrease in cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments was primarily the result of the use of cash for the continued repurchase of the Company’s ordinary shares pursuant to its share repurchase program and the payment of a cash dividend during each of the first and third quarters of 2026. This was partially offset by cash generated from operating activities.

“I am pleased to report strong financial results and continued business momentum for the third-quarter 2026. Our solid financial results demonstrate progress in our strategic transformation of AudioCodes into a voice AI-driven cloud software and services company,” said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.

“Third-quarter results were driven by continued momentum in our two key growth pillars: the Live suite of managed services for UCaaS and CX, and our VoiceAI business. Combined annual recurring revenue (ARR) for these segments reached $87 million, up 16% year over year. Our Microsoft Teams business continued to grow with sustained momentum, growing 4% year over year.

“Our UCaaS and CX connectivity business, which now accounts for more than 85% of our overall business, has remained resilient, with a promising outlook for 2027.

“Building on revenue growth earlier this year, our VoiceAI business grew 50% in the first three quarters of 2026 year-over-year, reflecting strong, broad-based demand across the portfolio. During the quarter, VoiceAI Connect and Live Hub continued to achieve record bookings, supported by a growing pipeline, new customer wins, and significant expansion among existing customers. Revenue from Voca CIC, our Microsoft Teams-certified contact center solution, grew more than 40% year over year during the quarter. Meeting Insights and Mia Edge, our enterprise-grade meeting intelligence solutions for cloud and on-premises environments, also gained traction, with revenue growing more than 100% during this quarter compared with the same period a year earlier. 

“Overall, we achieved our operational and financial targets for the third quarter period. The ongoing investments in Live services and VoiceAI have significantly contributed to our success and position us favorably for continued healthy top-line growth throughout the rest of 2026 and 2027,” concluded Mr. Adlersberg. 

Share Buy Back Program and Cash Dividend

On August 4, 2026, the Company declared a cash dividend of 20 cents per share. The dividend, in the aggregate amount of approximately $4.8 million, was paid on September 3, 2026, to all of the Company’s shareholders of record on August 19, 2026.

In September 2026, the Company received court approval in Israel to purchase up to an aggregate amount of $30 million of ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through March 9, 2027.

During the quarter ended September 30, 2026, the Company acquired 1,517,568 of its ordinary shares under its share repurchase program for a total consideration of $15.1 million.

As of September 30, 2026, the Company had $26.7 million available under this approval for the repurchase of shares and/or declaration of cash dividends.

As of September 30, 2026, the total outstanding shares of the Company were 23,296,828.

Conference Call & Web Cast Information

AudioCodes will conduct a conference call at 8:30 A.M., Eastern Time today to discuss the Company’s third quarter of 2026 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one of the following numbers:

United States Participants: 888–506-0062

International Participants: +1 (973) 528-0011

The conference call will also be simultaneously webcast. Investors are invited to listen to the call live via webcast at the AudioCodes investor website at http://www.audiocodes.com/investors-lobby.

Follow AudioCodes’ social media channels:

AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, X, Facebook, and YouTube.

About AudioCodes

AudioCodes Ltd. (NASDAQ: AUDC) (TASE: AUDC) is a global leader in enterprise voice and VoiceAI business solutions. We help organizations unlock the full value of voice, transforming every conversation, whether human or AI, into a strategic asset that drives better business outcomes. Our portfolio spans voice connectivity, unified communications and contact center integration, and next-generation voice AI applications that enhance collaboration, automate workflows and deliver real-time insights. With over 30 years of global experience and trusted by 65 of the Fortune 100, AudioCodes powers the intelligent enterprise, connecting people, platforms and data to move business forward.

For more information on AudioCodes, visit http://www.audiocodes.com.

Statements concerning AudioCodes’ business outlook or future economic performance, product introductions and plans and objectives related thereto, and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements” as the term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to, the following: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular, including governmental undertakings to address such conditions; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes’ and its customers’ products and markets; timely product and technology development, upgrades, the advent of artificial intelligence, and the ability to manage changes in market conditions and evolving regulatory regimes, as applicable; possible need for additional financing; the ability to satisfy covenants in AudioCodes’ financing agreements; possible impacts and disruptions from AudioCodes’ acquisitions, including the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impacts attributable to any pandemic or other public health crisis on our business and results of operations; the effects of the current and any future hostilities involving Israel, including in the regions in which we or our counterparties operate, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; and any other factors described in AudioCodes’ filings made with the U.S. Securities and Exchange Commission from time to time. AudioCodes assumes no obligation to update the information in this release.

©2026 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What’s Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, AudioCodes One Voice, AudioCodes Meeting Insights, and AudioCodes Room Experience are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands 

September 30,

December 31,

2026

2025

(Unaudited)

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 41,991

$ 45,282

Short-term bank deposits

252

239

Short-term marketable securities

2,520

27,350

Trade receivables, net

64,553

67,358

Other receivables and prepaid expenses

13,357

19,064

Inventories

24,926

22,032

Total current assets

147,599

181,325

LONG-TERM ASSETS:

Long-term Trade receivables

$ 12,150

$ 13,065

Long-term financial investments

2,372

2,790

Deferred tax assets

6,501

7,773

Operating lease right-of-use assets

30,491

30,077

Severance pay funds

22,227

21,163

Total long-term assets

73,741

74,868

PROPERTY AND EQUIPMENT, NET

29,679

29,248

GOODWILL, INTANGIBLE ASSETS AND OTHER, NET

40,054

37,579

Total assets

$ 291,073

$ 323,020

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

$ 10,849

$ 6,416

Other payables and accrued expenses

29,584

30,284

Deferred revenues

40,017

38,243

Short-term operating lease liabilities

7,122

6,635

Total current liabilities

87,572

81,578

LONG-TERM LIABILITIES:

Accrued severance pay

$ 18,609

$ 18,278

Deferred revenues and other liabilities

25,414

20,517

Long-term operating lease liabilities

32,084

31,348

Total long-term liabilities

76,107

70,143

Total shareholders’ equity

127,394

171,299

Total liabilities and shareholders’ equity

$ 291,073

$ 323,020

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands, except per share data

 Nine months ended

Three months ended

 September 30,

September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Revenues:

Products

$ 83,545

$ 86,896

$ 27,037

$ 30,606

Services

105,700

96,103

37,107

30,941

Total Revenues

189,245

182,999

64,144

61,547

Cost of revenues:

Products

30,667

33,086

10,507

11,150

Services

33,958

31,370

11,503

10,112

Total Cost of revenues

64,625

64,456

22,010

21,262

Gross profit

124,620

118,543

42,134

40,285

Operating expenses:

Research and development, net

40,801

39,087

13,447

13,188

Selling and marketing

61,867

57,318

21,203

18,942

General and administrative

12,018

11,832

4,112

4,094

Total operating expenses

114,686

108,237

38,762

36,224

Operating income

9,934

10,306

3,372

4,061

Financial income (expenses), net

(898)

586

1,243

64

Income before taxes on income

9,036

10,892

4,615

4,125

Taxes on income, net

(2,968)

(3,838)

(977)

(1,393)

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

Basic net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

Diluted net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

Weighted average number of shares used in
computing basic net earnings per share (in
thousands)

25,197

28,858

23,939

28,169

Weighted average number of shares used in
computing diluted net earnings per share (in
thousands)

25,716

29,356

24,504

28,672

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

U.S. dollars in thousands, except per share data

Nine months ended

Three months ended

September 30,

September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Gross profit

$ 124,620

$ 118,543

$ 42,134

$ 40,285

Gross margin

65.9 %

64.8 %

65.7 %

65.5 %

Share-based compensation (1)

215

319

62

94

Amortization expenses (2)

–

366

–

122

Non-GAAP gross profit

124,835

119,228

42,196

40,501

Non-GAAP gross margin

66.0 %

65.2 %

65.8 %

65.8 %

Operating income

$ 9,934

$ 10,306

$ 3,372

$ 4,061

Operating margin

5.2 %

5.6 %

5.3 %

6.6 %

Share-based compensation (1)

4,193

4,901

1,382

1,625

Amortization expenses (2)

19

399

–

133

Non-GAAP operating income

14,146

15,606

4,754

5,819

Non-GAAP operating margin

7.5 %

8.5 %

7.4 %

9.5 %

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

Net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

Share-based compensation (1)

4,193

4,901

1,382

1,625

Amortization expenses (2)

19

399

–

133

Exchange rate differences (3)

1,329

1,310

(1,059)

392

Non-GAAP net income

$ 11,609

$ 13,664

$ 3,961

$ 4,882

Non-GAAP diluted net earnings per share

$ 0.44

$ 0.45

$ 0.16

$ 0.17

Weighted average number of shares used in computing
Non-GAAP diluted net earnings per share (in thousands)

26,447

30,094

25,191

29,437


(1) Share-based compensation expenses related to options and restricted share units granted to employees and others.
(2) Amortization expenses related to intangible assets.
(3) Financial income (expenses) related to exchange rate differences in connection with revaluation of assets and 
liabilities in non-dollar denominated currencies.

Note: Non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP. The Company believes that non-GAAP information is useful because it can enhance the understanding of its ongoing economic performance and therefore uses internally this non-GAAP information to evaluate and manage its operations. The Company has chosen to provide this information to investors to enable them to perform comparisons of operating results in a manner similar to how the Company analyzes its operating results and because many comparable companies report this type of information.
The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies.

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Nine months ended

Three months ended

September 30,

September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Cash flows from operating activities:

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

Adjustments required to reconcile net income to net
cash provided by operating activities:

Depreciation and amortization

3,386

3,096

1,174

1,183

Amortization of marketable securities premiums and
accretion of discounts, net

136

312

14

115

Decrease (increase) in accrued severance pay, net

(733)

(714)

342

(790)

Share-based compensation expenses

4,193

4,901

1,382

1,625

Decrease in deferred tax assets, net

1,206

708

516

401

Cash financial loss (income), net

571

37

164

15

Decrease in operating lease right-of-use assets

3,649

3,292

1,386

1,093

Decrease (increase) in operating lease liabilities

(2,840)

(133)

(2,466)

(555)

Decrease (increase) in trade receivables, net

3,720

(10,373)

(3,041)

(7,237)

Decrease (increase) in other receivables and prepaid
expenses

3,213

(6,464)

2,730

(2,020)

Decrease (increase) in inventories

(3,054)

7,261

(1,188)

2,285

Increase in trade payables

4,161

2,761

1,278

2,674

Decrease (increase) in other payables and accrued
expenses

(8,170)

7,027

(4,020)

277

Increase in deferred revenues

7,491

6,471

2,171

2,256

Net cash provided by operating activities

22,997

25,236

4,080

4,054

Cash flows from investing activities:

Proceeds from short-term deposits

(13)

(23)

3

(5)

Proceeds from financial investments

134

243

12

65

Proceeds from maturity of marketable securities

24,827

5,200

7,450

2,000

Purchase of financial investments

(135)

(442)

–

–

Purchase of property and equipment

(3,355)

(4,830)

(1,059)

(1,571)

Net cash provided by investing activities

21,458

148

6,406

489

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Nine months ended

Three months ended

September 30,

September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Cash flows from financing activities:

Purchase of treasury shares

(37,669)

(24,514)

(15,121)

(12,696)

Cash dividends paid to shareholders

(10,077)

(10,934)

(4,788)

(5,608)

Proceeds from issuance of shares upon exercise of options

–

240

–

67

Net cash used in financing activities

(47,746)

(35,208)

(19,909)

(18,237)

Net increase (decrease) in cash and cash equivalents

(3,291)

(9,824)

(9,423)

(13,694)

Cash and cash equivalents at beginning of period

45,282

58,749

51,414

62,619

Cash and cash equivalents at end of period

$ 41,991

$ 48,925

$ 41,991

$ 48,925

Company Contact

Niran Baruch, 
Chief Financial Officer 
AudioCodes
Tel: +972-3-976-4000
niran.baruch@audiocodes.com 

 

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SOURCE AudioCodes

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AWS launches “Semarak AI Malaysia”, a national program to bring AI tools to government officers, students, and local software companies

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14 minutes ago

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November 4, 2026

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AWS is investing to put Amazon Quick, the AI built for work, in the hands of up to 445,000 government officers — supporting Malaysia’s nation-building agenda by giving public-sector teams practical, hands-on experience applying agentic AI to everyday workGovTech Malaysia launches GovHub, powered by Kiro, for developers to bring engineering rigor to agentic development, starting with a 500-developer pilot in 2026, with a goal to reach 4,000 by 2028Over 3,000 polytechnic students and lecturers set a national record by building agentic AI solutions in Malaysia’s largest AI competition using Kiro, AWS’s engineering agent

KUALA LUMPUR, Malaysia, Nov. 4, 2026 /PRNewswire/ — Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today launched “Semarak AI Malaysia” at AWS Cloud and AI Day Kuala Lumpur, a flagship national program that equips Malaysia’s government officers, students, software companies, and communities with the AI tools and skills to build their own solutions.

Semarak AI Malaysia is organized around three pillars: AI Negara for the public sector, AI Ekonomi for businesses, and AI Rakyat for communities. Semarak AI Malaysia focuses on the step after initial AI adoption: equipping more Malaysians with the access and skills to build with AI themselves.

“For Malaysia to lead in the regional AI economy, we need a workforce and a software industry that can build, not just consume, AI technology. Through Semarak AI Malaysia, AWS is building on its MYR29.2 billion commitment to Malaysia to turn that ambition into reality. This program starts with our civil servants and students, and extends to our software companies so they can develop AI solutions that serve Malaysian businesses and compete across the region,” said YB Datuk Seri Johari Abdul Ghani, Minister of Investment, Trade and Industry.

AI Negara: Equipping government officers to build AI services that drive better citizen outcomes
GovTech Malaysia, Ministry of Digital (Kementerian Digital), is launching GovHub, powered by Kiro, through JDN’s AI-as-a-Service (AIaaS) platform. The phase one pilot starts with 500 developers in 2026, with a goal to onboard 4,000 developers by 2028. Kiro uses spec-driven development to turn developers’ prompts into structured specifications for requirements, design, and implementation — giving AI all the context it needs before writing a line of code, so developers build what they want in fewer tries. To complement the tools knowledge workers use to build, AWS is investing to put Amazon Quick, the AI built for work, in the hands of up to 445,000 government officers; also through JDN’s AIaaS platform. Officers can use Quick to tackle higher-order tasks such as analyzing procurement data, synthesizing policy research across agencies, and surfacing patterns in large datasets.

AI Ekonomi: Giving Malaysian businesses the AI tools to compete and grow
Since the AWS Asia Pacific (Kuala Lumpur) Region launched in 2024, software companies in Malaysia building on AWS have grown their cloud and AI workloads by an average of approximately 30% between 2024-2025. These companies build the industry-specific applications that banks, retailers, manufacturers, hotels, logistics firms, and public agencies run every day. Malaysia-based software company MOCHI Technologies, for example, is building on AWS to help more than 1,000 small and medium-sized enterprises manage marketing, customer relationships, HR, and operations through a single AI-native platform. Supporting the growth of companies like MOCHI is central to the Semarak AI Malaysia program.

The Sarawak SaaS Accelerator (SaSAR), a collaboration between AWS and the Sarawak Digital Economy Corporation (SDEC), is designed to grow this pipeline of software companies in Malaysia. The program works with software companies to build AI products on AWS while SDEC matches them with Sarawak businesses looking to adopt AI solutions. The pilot cohort graduated over 20 software companies representing high-growth sectors in the Sarawakian economy spanning agriculture, automotive, and medical. Graduates received AWS cloud credits and technical mentorship from AWS, business-building guidance from SDEC, and have since established collaborations with government agencies, energy providers, and enterprise partners across Sarawak to drive adoption of their AI products. One early proof of concept involves an AI-enabled software testing solution designed to help organizations test and validate applications, including mobile applications, across various industries. The solution is undergoing validation with pilot users to refine its capabilities ahead of wider deployment.

Recognizing that local partners are crucial to deepen AI adoption at scale, AWS is also working with GD XCHANGE, the solutions arm of last-mile logistics provider GDEX, and AWS distributor VSTECS, to put AI tools directly into the hands of the thousands of SMEs GDEX already serves across e-commerce, retail, and manufacturing. Through the program, eligible SMEs receive six months of complimentary access to Quick and Kiro following an AI readiness assessment, equipping them with AI assistants for everyday business tasks. The collaboration aims to onboard 10,000 SMEs by 2028. One retail SME is already using Quick and Kiro to automate competitor-price tracking and demand forecasting, responding to market shifts in hours instead of weeks.

AI Rakyat: Building AI skills in Malaysian communities
AWS is strengthening Malaysia’s AI talent pipeline at the polytechnic and community college level, building on a collaboration with the Ministry of Higher Education (MOHE)’s Jabatan Pendidikan Politeknik dan Kolej Komuniti (JPPKK). Over 3,000 students and lecturers from polytechnics and community colleges nationwide set a new national milestone in the Malaysia Book of Records for the largest participation in an agentic AI competition through the POLYCC Agentic AI League 2026. Kiro was selected as the competition’s primary coding tool, enabling students with no programming background to engage with agentic AI concepts in natural language. AWS has also adopted its first school in Malaysia under the government’s Sekolah Angkat MADANI program: Sekolah Kebangsaan Datuk Keramat (1) in Kuala Lumpur. AWS will upgrade the school’s digital and STEM facilities, train teachers to deliver coding and robotics lessons, and run hands-on activities in drone technology and digital safety for students.

“When the public sector leads in building with AI, it becomes the lighthouse for the rest of the country. That’s what Semarak AI Malaysia is designed to do; equip civil servants, software companies, and students with the tools to build their own AI solutions. Every ministry, every developer, and every student who builds with AI raises the bar for what’s next.” said Hussein Mohd Ali, Country Manager, Malaysia, AWS.

About Amazon Web Services
Amazon Web Services (AWS) is guided by customer obsession, pace of innovation, commitment to operational excellence, and long-term thinking. By democratizing technology for nearly two decades and making cloud computing and generative AI accessible to organizations of every size and industry, AWS has built one of the fastest-growing enterprise technology businesses in history. Millions of customers trust AWS to accelerate innovation, transform their businesses, and shape the future. With the most comprehensive AI capabilities and global infrastructure footprint, AWS empowers builders to turn big ideas into reality. Learn more at aws.amazon.com and follow @AWSNewsroom.

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SOURCE Amazon Web Services

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Corero Network Security Accelerates International Growth with Strategic Investment in Regional Leadership and Partnerships

Published

14 minutes ago

on

November 4, 2026

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New leadership appointments strengthen EMEA and APAC operations as Corero builds on commercial momentum and industry recognition.

LONDON, Nov. 4, 2026 /PRNewswire/ — Corero Network Security (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service (“DDoS”) protection specialists and champion of adaptive, real-time service availability, today announced continued investment in its European and international operations, expanding regional leadership, technical expertise, and channel resources to accelerate partner-led growth across Europe, the Middle East, Africa, and Asia-Pacific.

As part of this expansion, Corero appointed Michael Woduschegg as General Manager and Field CTO, EMEA/APAC, bringing extensive industry experience and technical leadership. Corero will also add a Director of EMEA Channels in December to strengthen partner relationships and accelerate regional go-to-market initiatives.

“International growth requires more than entering new markets. It requires investing in the people, expertise, and partnerships that make sustainable success possible,” said Carl Herberger, Chief Executive Officer at Corero Network Security. “By strengthening local leadership and technical resources, we’re positioning Corero and our partners to capitalize on growing demand for cyber resiliency and real-time DDoS protection.”

Corero’s expansion is backed by strong performance and partner success. Q3 2026 order intake grew 50% year-over-year, fueled by channel-led wins across Europe, Latin America, and Asia-Pacific. That partner success also earned Corero and UK Servers, a provider of high-speed dedicated servers, colocation, cloud solutions and high availability cloud internet services, a finalist spot in the Best Technology Partnership category at the 2026 ISPA UK Awards.

“Our partners are central to Corero’s growth, and we’re committed to reinvesting in their success,” said Michelle Ragusa-McBain, Global Channel Chief at Corero Network Security. “Michael’s appointment and new EMEA channel leadership strengthen the support we provide, from technical enablement to joint go-to-market initiatives. When our partners grow, Corero grows.”

Corero will continue expanding strategic alliances, strengthening regional partnerships, and investing in sales and technical resources to support sustainable international growth.

About Corero Network Security

Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero’s technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange’s AIM market (ticker: CNS) and the US OTCQX Market (OTCQX: DDOSF).

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