Genesys announces strong fiscal 2022 results

Genesys announces strong fiscal 2022 results

● Total revenue exceeded US$1.9 billion

● Cloud and multi-cloud business revenue was US$825 million, an increase of more than 60% year-on-year

● More than 90% of new customers renewed their subscriptions during the fiscal year

Beijing, April 1, 2022 - Genesys, the global cloud leader in customer experience orchestration, recently released preliminary results for fiscal year 2022 (February 1, 2021 - January 31, 2022).

“It was a record year for Genesys as customers leveraged our experience orchestration platform and thriving ecosystem to deliver personalized experiences at scale,” said Tony Bates, CEO and chairman of Genesys. “Research data shows that while products and services are important, more than 80% of consumers cite personalized experiences as key to their brand loyalty. As a result, forward-thinking organizations are choosing Genesys to help them build long-term customer and employee relationships.”

In the current era of experience economy, many companies and organizations have chosen Genesys to help them manage customer loyalty. Perhaps just one bad experience will cause customers to turn to other brands. Feeling unappreciated or unable to achieve ideal career development may cause employees to leave their companies, leading to a wave of "mass resignations". Lack of empathy in companies is a common reason for declining customer and employee loyalty. Too many companies fail to provide people-oriented experiences. As a leader in experience as a service, Genesys has helped many companies and organizations break out of the business-centric operating model and enable the entire organization to deliver positive experiences to customers, employees and partners based on empathy to enhance trust and loyalty and gain differentiated competitive advantages.

Financial and business highlights for fiscal year 2022

● Genesys' total revenue was $1.9 billion, more than double the 9% year-on-year growth rate of the previous year, as the company completed its transformation into a cloud company.

● Customers have widely adopted the Genesys Cloud CX platform and Multicloud CX products. In the last fiscal year, Genesys cloud and multicloud business revenue was US$825 million, an increase of more than 60% year-on-year.

● More than 40% of Genesys' revenue comes from outside North America.

● The net revenue retention rate of the cloud business in the fourth quarter exceeded 120%, maintaining this level for eight consecutive quarters.

● Signed 15+ customer contracts exceeding $5 million in new ARR (annual recurring revenue), including 6 deals exceeding $10 million in new ARR.

● Signed a nine-figure total contract value (TCV) agreement with a leading North American financial services organization to transform its global contact center business. This is the largest customer contract in Genesys history.

● Continue to replace traditional suppliers such as Avaya and Cisco. Throughout fiscal 2022, an average of more than three of their customers switched to Genesys every day.

● Genesys has expanded its partnerships. In fiscal 2022, more than 50% of new orders were influenced by partners, and the number of partners in the AppFoundry® app store increased 35% year-over-year. 70% of Genesys customers use the open APIs provided by the company to customize the customer experience to meet their unique needs.

In fiscal 2022, Genesys also significantly enhanced its capabilities in digitalization, artificial intelligence, and experience orchestration through the acquisitions of Bold360, Exceed.ai, and Pointillist. Through these acquisitions, Genesys has enhanced its capabilities in process analytics and conversational artificial intelligence in marketing and sales, unified customer experience across all touchpoints, and consolidated its market leadership. Other milestones include:

● In December 2021, Genesys raised $580 million in equity financing, strengthening the company’s leadership in the global Experience-as-a-Service market.

● Enhancements to the Genesys Cloud CX platform, including AI-powered call routing, intent-aware bots and asynchronous web messaging, have helped many businesses achieve success, including Australian business process outsourcing consultancy Probe Group, which reduced average call wait times by 14% using Genesys predictive routing.

● Launched Genesys DX, a fully digital customer engagement solution that takes the customer experience beyond ordinary chat interactions.

● Partner with Qualtrics to help companies deliver world-class customer service experiences. By integrating customer interaction data from Genesys and customer experience data from Qualtrics, companies can understand every factor that influences customer satisfaction in one view.

● Connecting customer support and experience in a decentralized digital world by expanding the capabilities of Genesys Multicloud CX with availability on Microsoft Azure and an expanded partnership with Google Cloud. The partnership brings the Genesys Multicloud CX platform to Google Cloud, enabling enterprises to deploy and deliver exceptional customer experiences on the infrastructure of their choice.

● Partnering with Thrive Global to help companies address the employee burnout crisis. Thrive Reset for Genesys is the industry’s first employer-initiated stress intervention solution and will be available on Genesys AppFoundry in the first quarter of fiscal year 2023.

● Great Place to Work® certified in Australia, Brazil, Canada, India, Ireland, Japan, New Zealand, Philippines, UK and US.

Asia Pacific Highlights  

Genesys has gained significant traction with new customers in vertical industries including government, finance, telecommunications, healthcare, retail and e-commerce. New customers include:

● JALPAK, a travel agency under the Japan Airlines Group, turned to Genesys Cloud CX to better visualize the customer journey in real time and improve service quality.

● Tokopedia, a technology company with a leading market in Indonesia, used the Genesys Cloud CX platform to strengthen trust with customers and sellers and ensure optimal service quality, resulting in a 10% increase in customer satisfaction scores and a 50% increase in SLA rates.

● As China's leading smartphone and IoT brand, Xiaomi's global service center turned to Genesys Cloud CX to provide empathetic customer experiences and meet the personalized needs of global customers.

● Proactiv, a leader in the Japanese skincare market, streamlined internal processes and provided personalized customer care with Genesys Cloud CX.       

● Security Bank Corporation, one of the Philippines’ leading universal banks with primary businesses spanning retail, corporate and commercial banking, migrated to Genesys Cloud CX to deliver a truly connected, best-in-class customer experience.

● Tonik, the first innovative bank in the Philippines, adopted Genesys Cloud CX to provide better user experience and scalability, improving customer experience while increasing productivity.

● Other significant Genesys sales contracts include one of the leading private universal banks in the Philippines, one of the largest electric utilities in Japan, and a leading auto insurance company with over 1,000 seats.

● New appointments to the APAC leadership team strengthen Genesys' market leadership in the region, with Assaf Tarnopolsky appointed as senior vice president and general manager of Genesys APAC and Stephen Hamill as vice president of ASEAN and South Asia.

● Received Great Workplace certification in multiple markets: Australia, Japan (ranked 17th), New Zealand, Philippines, and India (five consecutive years). Genesys is ranked among the top 75 great workplaces in the Information Technology and Information Technology Business Process Management (IT & IT-BPM) industries in India, and was selected as a top 100 "Best Workplaces for Women" in 2021.

In the past fiscal year, Genesys has received significant recognition from industry analyst firms for its leadership, including being named a Leader in Workforce Optimization Platforms by Forrester, a Leader in the North American Enterprise Cloud Contact Center market by Frost and Sullivan, a Leader in Conversational Intelligence by Opus Research, and a Leader in the Gartner® Magic Quadrant for Contact Center as a Service 2021.

“While many, including CEOs, discuss the importance of customer experience, few realize it is not a static outcome but a dynamic relationship that evolves over time. As a result, the exceptional experience of the past may not meet today’s customer standards,” said Alan Webber, vice president of customer experience research at IDC. “Genesys is committed to helping organizations meet rising customer expectations and orchestrate customer experiences based on the context of each interaction. By adopting a dynamic, personalized experience platform, these organizations are able to deliver the best possible experience for their customers.”

Financial Disclosure Disclaimer

The unaudited financial results for the fiscal year ended January 31, 2022 included in this press release are preliminary, represent the most recent information available to management and are not a comprehensive statement of financial results for the periods presented. Actual results may differ from the preliminary unaudited results included in this announcement as the Company completes its year-end financial close procedures, including final adjustments, the Company’s independent registered public accounting firm completes its audit, and other developments that may occur between the date of this press release and the date the financial results for the fiscal year ended January 31, 2022 are finalized.