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| Behavox Unveils Impressive Full-Year 2023 Results, Boasting 58% Revenue Growth |
Future Outlook: Profitability and Continued Growth
Looking ahead, Behavox is poised to achieve profitability by March 2024, with an expected revenue growth of 30-40% for the year. This optimistic outlook reflects the company's ongoing growth trajectory and stability in the business.
Key Achievements in 2023 and Strategic Initiatives for 2024:
Major Signings: Behavox secured significant partnerships with industry giants, including BNY Mellon (NYSE: BK), Vitol, and Evercore (NYSE: EVR), showcasing global influence and a dedication to providing exceptional service.
Market Expansion in the Middle East and Commodities Sector Growth: Strategic partnerships with prominent oil and gas firms underscore Behavox's significant step towards global growth, meeting the escalating demand for its product in the Commodities vertical.
Quantum AI Product Rollout: The rollout of GenAI and large language models (LLMs) through the Quantum AI product sets industry standards, offering unmatched efficiency and accuracy. Behavox's AI-driven solutions played a pivotal role in assisting leading banks worldwide in passing regulatory inspections.
Behavox Intelligent Archive: The launch of the Behavox Intelligent Archive, developed in partnership with Google Cloud, provides a comprehensive end-to-end communications archiving and surveillance system. This product, enhanced with state-of-the-art AI technologies, addresses market needs with advanced AI integration.
Behavox Voice20 Breakthrough: Behavox Voice20's best-in-class transcription results and unparalleled alert quality, especially when integrated with the Quantum AI product, represent a breakthrough in voice analysis technology, showcasing the company's commitment to delivering unprecedented quality in voice surveillance.
Foundation Model Launch: In 2024, Behavox will introduce its own foundation model, designed for customization by customers for specific compliance and front-office applications. This versatile and intelligent model, having successfully passed industry exams, can be deployed in any customer-controlled cloud environment, offering greater flexibility and control.
Management's Confidence and Vision for the Future:
Behavox's management team expresses confidence in the company's future and remains committed to investing in groundbreaking software that redefines industry standards and adds value to customers.
Reflecting on the significant achievements of the past year, Erkin Adylov, CEO and Founder of Behavox, emphasized the defining nature of 2023.