AudioCodes Ltd. (NASDAQ:AUDC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 08:30 am ET

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AudioCodes Ltd. (NASDAQ:AUDC) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
Shabtai Adlersberg

customers.

I just mentioned that so far, we have more 50 opportunities created; out of which, 20 were created in the second quarter. We have more than 10 opportunities that were closed one. We have few already in production, less than 10. Partners' picture is very encouraging. There is no such comparable capability these days at the level and performance we provide. And so, we are able to get to work with many chat developers in both framework vendors in the space and also with some of the big names you all know from the public network. So all-in-all, a very successful product, very successful activity.

I'll also mention, a quarter ago, we announced collaboration with Google on the One-Click program, which is meant to allow to connect and provide phone numbers in the US and UK to chat developers. I'm happy to say that there's been a lot of interest in that new service. We had more than 100 people signing in. We have more than 10 active accounts right now. And we believe that is a great lead generation tool for us for the growing chatbot world.

Regarding services, I already mentioned, revenues just touch another angle, which is bookings. So in the second quarter, we grew very nicely in bookings, 6.3% compared to the second quarter year ago. Very impressive is the growth of more than 40% professional services year-over-year. So all-in-all, a very active quarters in terms of professional services.

Finally, I'll come to our guidance. So in terms of revenues, we estimate -- Niran mentioned already, we reiterate our guidance from the beginning of the year and see no reason to change it. We feel fully confident in achieving it. As he mentioned, the current range is targeting between $214 million to $222 million. As regards to earnings, in second quarter '20, we were able to meaningfully beat original plan and the analyst consensus. For the rest of 2020, we believe that we will see similar patterns of revenue and operating expenses and thus, we are confident in our ability to continue to grow earnings. As a result, we now update our earnings guidance and increasing earnings range from $1.09 to [Phonetic] $1.15 to $1.18 to $1.24.

And with that, I've completed my introduction for the quarter. And we'll now turn the call into Q&A. Operator?