Genesys reports $1.5 billion in revenue with 40% growth

Genesys, a global cloud leader in AI-powered experience orchestration, has reported considerable growth in the first quarter of its fiscal year 2025, surpassing USD $1.5 billion in annual recurring revenue. This marks a year-over-year increase of more than 40%. The company has attributed this growth to the increasing demand for its Genesys Cloud platform, which leverages best-in-class AI capabilities.

Nearly 6,000 customers utilise the Genesys Cloud platform, with more than 40% making use of its AI capabilities. Notable clients include Coca-Cola Bottlers Sales and Services, PureGym, Beyond Bank, and several others. This surge in demand is credited to Genesys' consistent delivery of innovative solutions aimed at addressing real-world business challenges.

The company also revealed that new bookings for its standalone AI products had doubled year-over-year in the first quarter. This includes its largest-ever seven-figure AI annual contract value win as part of a customer experience transformation project for a community service organisation.

Tony Bates, chairman and CEO of Genesys, expressed confidence in the company's growth trajectory. He emphasised the importance of the Genesys Cloud platform and its AI capabilities in preparing organisations for a future where AI-powered experience orchestration will transcend traditional customer-facing activities.

During the first quarter, Genesys achieved several business milestones. The average number of unique agents among its top 50 customers rose to nearly 10,500, marking a year-over-year increase of over 20%. The company maintained strong profitability with high 20s Adjusted EBITDA and influenced more than USD $55 million in new and sustained business through its sustainability practices.

The Genesys Cloud platform orchestrated an average of more than 54.5 million conversations daily, reaching nearly 5 billion total conversations for the quarter—a 60% increase year-over-year. Additionally, the number of words transcribed by Genesys Cloud Speech and Text Analytics surpassed 1 trillion during the 12-month period ending April 30, 2024. The platform also recorded an uptime of 99.999%, translating to less than 90 seconds of downtime for the entire quarter.

Following the acquisition of Radarr Technologies, Genesys integrated Radarr's public social media capabilities into the Genesys AppFoundry Marketplace. This move aims to provide organisations with deeper customer insights and new engagement channels. Genesys was also recognised as a Leader in the IDC MarketScape: Worldwide Front-Office Conversational AI Software 2024 Vendor Assessment for its expansive conversational and generative AI capabilities.

Genesys has continued to innovate, announcing significant new capabilities and collaborations in May 2024. These include the launch of Genesys Copilots, Virtual Agents, a Modern Agent Desktop, and Empathy Detection for its cloud platform. The company also introduced native journey management capabilities to enhance AI-powered experience orchestration.

A strategic partnership with ServiceNow was also unveiled, introducing Unified Experience, a turnkey AI-powered solution that integrates the Genesys Cloud platform with ServiceNow Customer Service Management. This partnership aims to further transform customer and employee experiences.

Genesys has also achieved carbon neutrality for the operations of its cloud platform, facilitated by its use of Amazon Web Services and investment in carbon credits with Rubicon Carbon to cover residual emissions.

Globally, Genesys has seen significant growth across various sectors. Revenue from the healthcare sector grew by over 65% year-over-year, while the retail and financial services sectors saw increases of more than 50% and nearly 50% respectively. Noteworthy expansions include Western Sydney University, Kiwibank, Beyond Bank, Carnival Japan, Instacart, The Trevor Project, and Santander Brazil. These organisations have adopted Genesys Cloud to improve customer and employee experiences through AI-powered capabilities.

Genesys Cloud is available in 20 AWS Regions and has received extensive recognition for its AI, automation, and digital technologies. The company continues to position itself to enable organisations of all sizes to scale their customer experiences globally.