Exotel rides AI momentum to profitability, projects doubling EBITDA growth in FY25

Bengaluru-based full-stack customer engagement platform Exotel has reported profitability with positive EBITDA in the third and fourth quarters of FY24. 

The company pared down its annual losses by 65%, from Rs 108.8 crore in FY23 to Rs 38.8 crore in FY24, while revenue inched up from Rs 420 crore to Rs 445 crore during the same period.

Adarsh Kumar, CFO of Exotel, credited the company’s turnaround to its focus on AI-driven initiatives, which have become a cornerstone for the company’s growth. 

“It's a combination of multiple factors. First, we are growing our business in the space that we think is a future for all of us—the AI side of the business. That has excited us and we are seeing a fair amount of traction in that space, making it a key driver for future-proofing our business and creating growth opportunities,” Kumar told YourStory. 

With this momentum, Exotel is projecting 100% year-on-year EBITDA growth for FY25 as it strengthens its market leadership by adopting emerging technologies.

“Second, we have focused on improving operational efficiency. Together, these factors have set us up for achieving EBITDA profitability in FY25 and beyond,” he added. 

The company has also expanded into high-growth international markets, including Saudi Arabia, the UAE, and the USA, opening new revenue streams and strengthening its global presence.

Exotel has catered to over 7,000 clients globally, including Ola, Swiggy, Uber, and HDFC Bank—facilitating more than 25 billion annual conversations through its unified platform, it noted in a statement. 

“Sustainable profitability is a function of multiple things. We have to continuously innovate to offer new products to our existing customers. We are certainly focused on the international market…but domestic continues to be our mainstay, and the market in itself is very exciting,” Kumar said. 

“Digital-native companies such as Swiggys and Zeptos of the world are growing exponentially, with some achieving 60% to even 100% year-over-year growth, and their growth is quite intertwined with ours,” he added.

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How Exotel is helping enterprises communicate with their customers better

Harmony, the company’s flagship AI-driven enterprise solution, integrates generative AI voice bots and Conversational Quality Analysis (CQA) to unify conversations, context, and workflows across channels.

The platform has enabled businesses to deliver personalised customer interactions, make real-time decisions with intelligent routing, and collaborate between AI and human agents. It also offers industry-specific capabilities tailored for BFSI, healthcare, ecommerce, and other sectors. 

Looking ahead, Exotel aims to sustain its growth trajectory by continuing to invest in AI, expanding its global footprint, and helping enterprises achieve better customer outcomes. 

"As a company, we are geared for double-digit revenue growth in FY25 and beyond. We aim to grow on the profitability vector for the next 2-3 years, ensuring strong opportunities for our investors," Kumar proclaimed. 

Founded in 2011 by Shivakumar Ganesan, Ishwar Sridharan, and Sachin Bhati, Exotel integrates AI-powered solutions that unify conversational AI, CCaaS (contact-centre-as-a-service), and CPaaS (communication-platform-as-a-service) into a single, scalable platform. The company combines chatbots, voicebots, and AI-driven insights to create meaningful customer interactions. 

“We have been delighted to be partners with Exotel for the last four years. The company’s commitment to constant improvement and transforming customer engagement through AI will allow Exotel to maintain its industry leadership status while continuing its financial growth path,” said Gautam Mago, General Partner at A91 Partners, in a statement. 

In 2022, Exotel secured $40 million (Rs 298 crore) in a Series D funding round led by Steadview Capital. To date, the startup has secured approximately $100 million through various debt and equity rounds.