The following is a summary of the Altigen Communications, Inc. (ATGN) Q2 2024 Earnings Call Transcript:
Financial Performance:
Altigen reported Q2 2024 revenue of $3.4 million, representing a mild growth of 4% from the previous quarter.
The company experienced a decline in Total cloud services revenue by roughly 4% compared to Q2 2023 but saw a 15% increase in services revenue, which was majorly driven by an expanded business relationship with the Connecticut Department of Transportation.
Business Progress:
The company is making advancements towards operational efficiency through the implementation of a new billing system and a new ordering, provisioning, and management portal.Altigen has launched new IVR platforms integrated with AI features, building upon initial use cases with Altigen and Fiserv customers and is nearing its final stages of adding conversational AI to these platforms.
Looking forward, Altigen plans to roll out new AI solutions over the next six to nine months, beginning with a prototype of an AI-based automated web chat solution.
More details: ALTIGEN COMMUNICATIONS INC IR
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