Genesys Announces Strong Fiscal Year 2023 Results

Genesys Announces Strong Fiscal Year 2023 Results


Bangalore, India, March 15, 2023: 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 Centre as a Service (CCaaS).[1] Genesys was also ranked number one in three out of five use cases in the Gartner Critical Capabilities report.[2]

“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

  • Total revenue of greater than $2 billion
  •  Genesys Cloud CX revenue of greater than $800 million, up approximately 50% year-over-year
  •  Approximately 45% of total revenue from outside of North America
  •  Genesys Cloud CX net revenue retention of greater than 120% in the fiscal fourth quarter
  •  More than 400 customers with greater than $1 million annual recurring revenue (ARR), including 200 Genesys Cloud CX customers
  •  The average number of unique agents for each of the top 50 Genesys Cloud CX customers increased approximately 30% year-over-year to nearly 8,000
  •  Genesys Cloud CX software gross margin of greater than 80%
  •  Strong profitability and liquidity, delivering mid-20s Adjusted EBITDA margin and ending the year with over $500 million in cash and cash equivalents[3]
  •  Expanded Genesys Cloud CX to 12 core regions and 4 satellite regions around the world with three new satellite regions launched in Paris, Jakarta and Hong Kong. Genesys Cloud CX services are deployed in Amazon Web Services (AWS) Regions and AWS Availability Zones.

Industry Recognition

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 recognised as:

  •  A Leader in The Forrester Wave™: Journey Orchestration Platforms, Q2 2022[1]; and the Omdia Universe: Customer Engagement Platforms, 2022-2023[2] evaluated for its orchestration and analytics capabilities that provide individual context across the customer journey, important capabilities in connecting every touchpoint and experience across sales, marketing and service
  •  A Driver of ROI for customers with differentiated AI and automation capabilities in the IDC PeerScape: Lessons Learned from Implementing Conversational AI[6]
  •  A Leader in cloud contact centre by Frost and Sullivan[7], earning first place in innovation around the world
  •  A Leader in the Forrester New Wave™: Conversation Automation Solutions, Q3 2022[8] for its comprehensive conversational AI capabilities that span marketing, sales and service use cases, including® by Genesys
  •  A Great Place to Work® throughout the world, with certifications in the United States, United Kingdom, Canada, Ireland, Japan, Brazil, Philippines and India. It also has been named a Best Place to Work for Women in India and the UK.

[1] Gartner® Magic Quadrant™ for Contact Centre as a Service, Drew Kraus, Steve Blood, Pri Rathnayake, Pankil Sheth, 22 August 2022

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

[2] Gartner, Critical Capabilities for Contact Centre as a Service, Steve Blood, Pri Rathnayake, Pankil Sheth, Drew Kraus, 23, August, 2022.

Gartner Disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

This Magic Quadrant was earlier named as Magic Quadrant for Contact Centre as a Service, North America and Magic Quadrant for Contact Centre as a Service, Western Europe till 2019 Genesys was referred to Interactive Intelligence in the 2015 & 2016 Magic Quadrant report.

[3] (1) Adjusted EBITDA represents Earnings before Interest, Taxes, Depreciation & Amortisation, plus other adjustments such as one-time expenses, restructuring charges and stock-based compensation expense

[4] The Forrester Wave: Journey Orchestration Platforms, Q2 2022, Forrester Research, Inc, Joana de Quintanilla, Paul McKay, June 27, 2022

[5] Omdia Universe: Customer Engagement Platforms, 2022-23 Report

[6] IDC PeerScape: Lessons Learned From Implementing Conversational AI, (IDC #US47715822, June 2022)

[7] Frost Cloud Contact Centre report series:

Frost Radar™: North American Enterprise Cloud Contact Centre Market, 2022, published October 28, 2022

Frost Radar™: Latin American Cloud Contact Centre Market, 2021, published August 18, 2021

Frost Radar™: Asia-Pacific Cloud Contact Centre Services, 2022, published March 11, 2022

Frost Radar™: European Contact Centre as a Service (CCaaS) Market, 2021, published March 3, 2022

[8] The Forrester New Wave: Conversation Automation Solutions, Q3 2022, Forrester Research, Inc. Jessie Johnson, Steven Casey, Faith Born, Arianne Burnette, September 1, 2022