Genesys Reports Strong First Quarter Fiscal Year 2025 Performance

Genesys, a provider of AI-powered cloud solutions for experience orchestration, reported notable performance for the first quarter of its fiscal year 2025, ending April 30, 2024. The company achieved over $1.5 billion in annual recurring revenue (ARR), reflecting a more than 40% year-over-year growth.

Tony Bates, chairman and CEO of Genesys, said: “This strong first quarter continued our impressive track record of growth as we make bold moves to help our customers achieve increased loyalty and revenue. Through Genesys Cloud and our industry-leading AI, we’re paving the way for a future where universal orchestration can transcend customer-facing activities across the front and back offices, enabling organisations to reimagine the contact centre, customer and employee experiences, and their business overall. With our unmatched experience orchestration capabilities and clear vision forward, our customers have confidence that Genesys will prepare them for a new era of AI.”

Key Metrics and Developments

Genesys Cloud saw a significant rise in new bookings for standalone AI products, which doubled year-over-year. The company secured a substantial AI annual contract value (ACV) win with a customer experience transformation project for a community service and wellbeing organization.

Over 40% of Genesys Cloud's nearly 6,000 customers, including Coca-Cola Bottlers' Sales and Services (CCBSS), PureGym, and Beyond Bank, are utilizing its AI-driven features. This adoption is supported by Genesys' $300 million investment in research and development over the past year.

Operational and Financial Highlights

In Q1 FY2025, Genesys reported high 20s Adjusted EBITDA. The company orchestrated over 54.5 million conversations daily on its platform, a 60% year-over-year increase, and transcribed more than one trillion words through its speech and text analytics tools over the past year. Genesys Cloud maintained an uptime of 99.999%, with less than 90 seconds of downtime during the quarter.

The company also focused on sustainability, which contributed to over $55 million in new and sustained business. Genesys Cloud operations have achieved carbon neutrality, partly through energy-efficient services via Amazon Web Services (AWS) and investment in carbon credits.

Strategic Partnerships and Expansions

In May 2024, Genesys introduced new capabilities including Genesys Copilots, Virtual Agents, a Modern Agent Desktop, and Empathy Detection. A partnership with ServiceNow resulted in Unified Experience, a solution integrating Genesys Cloud with ServiceNow Customer Service Management.