Genesys Announces Strong Fiscal Year 2023 Results
Genesys Cloud CX revenue growth of approximately 50% year-over-year propels company past $2 billion total revenue
SAN FRANCISCO, March 7, 2023 /PRNewswire/ -- Genesys®, a leader in cloud experience orchestration, today announced highlights from the company's fiscal year 2023 (February 1, 2022, to January 31, 2023). The company continued its strong momentum, surpassing $2 billion total revenue. The Genesys Cloud CX™ platform continues to gain market share, with revenue increasing approximately 50% year-over-year to greater than $800 million and has achieved its largest new bookings quarter ever in Q4. Additionally, Genesys was named a Leader for its ability to execute and completeness of vision in the 2022 Gartner® Magic Quadrant™ for Contact Center as a Service (CCaaS).i Genesys was also ranked number one in three out of five use cases in the Gartner Critical Capabilities report.ii
"Today's economic uncertainty has underscored the importance of the experience in winning customer and employee loyalty and ultimately driving the bottom line," said Tony Bates, CEO and Chairman of Genesys. "Companies see Genesys industry leading experience orchestration capabilities as a game changer in this predominantly digital landscape for its ability to turn impersonal transactions into personal connections."
"Our Genesys Cloud CX platform provides the flexibility and fluidity that enables organizations to innovate their customer and employee experiences and deliver empathetic, personalized experiences at scale," continued Bates. "As an all-in-one platform, it's unmatched in its ability to transform and modernize how organizations connect with people, integrate real-time data, optimize proactive, personalized engagement and deliver a true loyalty differentiator."
Genesys Growth and Profitability
Genesys continues to receive industry recognition and accolades for its market leadership in experience orchestration, innovation, execution strength, and fostering a workplace culture focused on the needs and growth of all employees, among other areas. During the year, the company was recogized as:
Every year, Genesys orchestrates billions of remarkable customer experiences for organizations in more than 100 countries. Through the power of our cloud, digital and AI technologies, organizations can realize Experience as a Service®, our vision for empathetic customer experiences at scale. With Genesys, organizations have the power to deliver proactive, predictive, and hyper personalized experiences to deepen their customer connection across every marketing, sales, and service moment on any channel, while also improving employee productivity and engagement. By transforming back-office technology to a modern revenue velocity engine Genesys enables true intimacy at scale to foster customer trust and loyalty. Visit www.genesys.com.
Preliminary Financial Information
The unaudited financial results for the fiscal year ended January 31, 2023 included in this press release are preliminary and represent the most current information available to management and are not a comprehensive statement of the financial results for the period discussed. Actual results may differ from the preliminary unaudited results included in this release due to the completion of the company's year-end financial closing procedures, including final adjustments, completion of the audit by the company's independent registered public accounting firm, and other developments that may arise between the date of this press release and the time that financial results for the fiscal year ended January 31, 2023 are finalized.
©2023 Genesys. All rights reserved. Genesys, the Genesys logo, Genesys Cloud CX and Experience as a Service are trademarks, service marks and/or registered trademarks of Genesys. All other company names and logos may be registered trademarks or trademarks of their respective companies.
i Gartner® Magic Quadrant™ for Contact Center as a Service, Drew Kraus, Steve Blood, Pri Rathnayake, Pankil Sheth, 22 August 2022
ii Gartner, Critical Capabilities for Contact Center as a Service, Steve Blood, Pri Rathnayake, Pankil Sheth, Drew Kraus, 23, August, 2022.
This Magic Quadrant was earlier named as Magic Quadrant for Contact Center as a Service, North America and Magic Quadrant for Contact Center as a Service, Western Europe till 2019 Genesys was referred to Interactive Intelligence in the 2015 & 2016 Magic Quadrant report.
iii (1) Adjusted EBITDA represents Earnings before Interest, Taxes, Depreciation & Amortization, plus other adjustments such as one-time expenses, restructuring charges and stock-based compensation expense
iv The Forrester Wave: Journey Orchestration Platforms, Q2 2022, Forrester Research, Inc, Joana de Quintanilla, Paul McKay, June 27, 2022
vii Frost Cloud Contact Center report series:
viii The Forrester New Wave: Conversation Automation Solutions, Q3 2022, Forrester Research, Inc. Jessie Johnson, Steven Casey, Faith Born, Arianne Burnette, September 1, 2022
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