Exotel Strengthens Margins and Operating Leverage In FY25

Exotel, the region’s foremost AI-first customer experience transformation partner, has announced a remarkable operating turnaround in FY25, the outcome of a product-focused year centred on strengthening its core platforms, improving unit economics, and tightening execution across the business. The company moved from an EBITDA loss of ₹31 crore in FY24 to positive EBITDA of ₹34 crore in FY25, supported by margin expansion, cost discipline, and operating leverage. 

Operating Leverage and Cost Discipline
The EBITDA turnaround in FY25 was driven by sustained improvement in unit economics, reflected in a 340 basis-point year-on-year expansion in gross margin, alongside 18% growth in absolute gross profit. During the same period, total operating expenses declined by approximately 10%, resulting in materially improved operating leverage.

Strengthening Balance Sheet and Financial Flexibility

FY25 also saw a strengthening of Exotel’s balance sheet, supported by improved cash generation, better working-capital efficiency, and disciplined capital allocation. This enhanced liquidity position has improved the company’s financial flexibility to invest in platform development and growth initiatives while maintaining balance-sheet resilience.

Scale, Reliability, and Enterprise Reach

For Exotel, FY25 was a year of product development and platform strengthening, with focused investments across its Voice platform, Conversational AI, and Enterprise Contact Centre Software. During the year, the company launched key platform innovations such as Harmony, its AI-led customer experience orchestration layer; the MCP Server, which enables AI agents to securely trigger real-world voice and messaging actions through a standardized Model Context Protocol; and AgentStream, a programmable, real-time voice infrastructure designed to support AI agents at scale.

Enterprise Scale and Market Adoption, Expands into US and KSA
With 14 years of operating experience, Exotel powers over 25 billion customer interactions annually across 7,000+ enterprises, including Apollo 24|7, Ship Rocket, HDFC Securities, Truecaller, Piramal Finance Future Generali, JSW, and MG Motor. In FY 2024-25, Exotel enabled over 4 billion AI-led resolutions, reported operating revenue of ₹490.50 crore with full-year profitability, and strengthened its presence across India, Southeast Asia, the Middle East, and Africa. The year also marked Exotel’s strategic expansion into the United States and the Kingdom of Saudi Arabia, signalling its next phase of global growth.

Commenting on the Results, Shivakumar Ganesan, Founder & CEO, Exotel, said, “FY25 marks a defining and sustainable turning point in Exotel’s journey. Fourteen years in, we have built a strong operating foundation by making deliberate choices—strengthening our core platforms, improving unit economics, and scaling with discipline. This was a year where deep product innovation and execution came together to deliver profitability. As we step into FY26, we do so with confidence, clarity, and the conviction to scale AI-led customer engagement for the future.”

Commenting on the company’s performance, Adarsh Dikshith, CFO, Exotel, said, “FY25 represents the point at which several years of structural work across unit economics, cost discipline, and product focus came together. We are now operating from a much stronger economic base — one that gives us the flexibility to invest deliberately, scale responsibly, and compound value over the long term. The emphasis going forward is on deepening our core platforms and extending operating leverage as the business grows.”

Outlook: Acceleration into FY26

Building on the stronger operating base established in FY25, early indicators for FY26 point to accelerating momentum. Exotel’s core Voice Platform, Enterprise Contact Centre, and Conversational AI businesses are tracking at approximately 20–21% year-on-year growth, while also supporting the company’s pivot towards AI-led transformation projects, enabling intelligence and automation to be embedded across customer interactions.

Industry Recognition

Exotel’s market leadership has also been reinforced through its recognition in the 2025 Gartner® Innovation Guide for Generative AI Technologies, alongside inclusion in the Forrester CCaaS Landscape, being named Most Trusted ICT Brand at CIO CHOICE 2025, and strong ratings in independent Voice of the Customer reports.