Genesys has announced that it has reached almost $2.1BN in annual recurring revenue (ARR) for its Genesys Cloud platform.
The news makes Genesys the first vendor to announce that it has officially broken the $2BN mark for annual CCaaS revenue, with the company reporting 35 percent YoY growth.
Indeed, the tech firm had been neck and neck with NiCE, with both vendors hovering around $1.9BN, but has now seemingly pulled ahead.
However, after a series of big deals announced in the last quarter, including a $100MN deal with Europe's largest contact center, NiCE may soon close the gap.
The next closest competitor in CCaaS is Five9, which broke the $1 billion barrier in 2024.
AWS is also likely to have reasonably high CCaaS revenue, but the company does not disclose its contact center earnings.
Genesys believes that its strong numbers are partly down to an uptick in the implementation of Genesys Cloud AI, a suite of AI capabilities integrated into the vendor’s CCaaS platform.
Indeed, the company stated it was in a strong position to "lead the advancement of agentic AI in CX orchestration."
These sentiments were echoed by Tony Bates, Chairman and CEO of Genesys, who said: "Enterprises are operating in the experience economy where empathy, delivered at scale through AI, redefines what it means to truly connect with customers.
With the rise of agentic AI, organizations will have more opportunity to deliver proactive, personalized experiences that make customers feel seen and valued, not just a number in a queue.
"Genesys is at the forefront of the AI transformation that makes this possible, enabling organizations to create experiences that are not only smarter, but deeply human."
Genesys Signs Its Second-Largest Deal Ever
Away from its record-breaking CCaaS revenue reveal, the quarter saw Genesys secure its second-largest CCaaS deal, an eight-figure annual contract with a Fortune 100 technology company.
There was also good news for the company's existing Genesys Cloud business, with the platform driving a quarterly net revenue retention rate above 120 percent for four consecutive quarters.
In addition, the number of agents supported by Cloud Copilot has more than tripled, while the platform generated over ten times more conversation summaries year over year (YoY), freeing up agents to focus on delivering a better customer experience.
