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News » Genesys achieves record growth in fiscal year 2024

Genesys achieves record growth in fiscal year 2024

Genesys fiscal year 2024
Photo from Genesys

CALIFORNIA, UNITED STATES — Contact center software firm Genesys announced a groundbreaking fiscal year 2024, setting new records in annual contract value (ACV) bookings and annual recurring revenue (ARR). 

The Genesys Cloud platform concluded the year with a $1.4 billion ARR, marking a 45% increase year-over-year.

The fiscal year saw nearly 750 new customers adopting the Genesys Cloud platform, leveraging its comprehensive AI capabilities for personalized customer experiences. Notably, the use of digital and voice bots surged, with more than 1.2 million summaries generated by the platform’s Auto Summarization for Agent Assist feature.

Genesys also continued to innovate, releasing over 400 new features, nearly 70 of which are AI-powered. The acquisition of Radarr Technologies in February further enhanced Genesys Cloud’s capabilities, enabling deeper customer engagement through AI-based analytics.

Tony Bates, Genesys CEO and Chairman, expressed pride in the company’s achievements, stating, “Genesys is changing how companies around the world connect with employees and customers in the era of AI.”

“Our record-setting bookings are evidence that our vision to ensure every customer and employee interaction is personalized and continually optimized is resonating with the industry,” he added.

Key highlights from the fiscal year include over 85 deals valued at more than $1 million ACV, a significant 65% increase in deals worth $5 million or more year-over-year, and strong momentum across various industries, particularly healthcare, business services, and retail. 

Genesys Cloud’s net revenue retention also exceeded 120%, with total annual revenue growing more than 10% year-over-year.

The company’s commitment to sustainability also influenced over $200 million in new and sustained business, underscoring the importance of responsible practices in today’s market.

Genesys empowers more than 8,000 organizations in over 100 countries to improve loyalty and business outcomes by creating the best experiences for customers and employees. It recently secured the #27 spot in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.

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