Infobip Strengthened Its Financials in 2024

Infobip closed 2024 with solid growth and the strongest profitability metrics in its history. This confirmed a successful transition from years of heavy expansion and investment into a phase of financial consolidation and operational efficiency.

According to the company’s annual report filed in the UK, Infobip’s revenue rose 6.7% to €1.85 billion, up from €1.73 billion in 2023. Gross profit increased even faster, by 9.7%, reaching €441 million thanks to a stronger product mix and improved supply chain management. The most striking shift came in profitability: adjusted EBITDA surged 53.7% to €130 million, while operating cash flow more than tripled to €78 million.

Despite these improvements, the company still posted a net loss of €134 million. Yet this marks a substantial recovery compared to 2023, when the loss stood at €227 million, and a sharp turnaround from 2021–2022, when Infobip was still absorbing major acquisitions and integration costs. The pre-tax loss more than halved to €106 million, reflecting cost optimisations and lower amortisation charges.

Growth was balanced across markets. The Americas, Infobip’s largest region, delivered €1.05 billion in revenue, up 5.2%, helped by new customer acquisitions, political campaign messaging tied to the US elections, and strong demand for SMS, MMS, and WhatsApp channels.

Europe, the Middle East and Africa (EMEA) expanded 13% to €465 million, driven by SMS and WhatsApp adoption, particularly in enterprise and new markets. Asia Pacific and India grew 3.6% to €336 million, benefiting from big customer acquisitions and WhatsApp traffic, alongside steady SMS demand in emerging economies.

Infobip has moved far beyond its SMS API origins. Today, it operates one of the world’s largest CPaaS networks, with 800 direct mobile operator connections, more than 40 data centers, and offices in over 60 countries.

In 2024, the company launched its modular API suite CPaaS X and invested in rich messaging, email, and voice services. The acquisition of US-based Peerless Network continued to pay off, strengthening its Tier 1 voice capabilities. Apple’s decision to support RCS on iOS has been a game-changer: Infobip, already a leading player in RCS, expects this to accelerate adoption in 2025, particularly in North America and Brazil.

Another milestone was surpassing 1,000 global partners, reflecting Infobip’s shift towards ecosystem-driven growth. The company now works closely with telecom operators, ISVs, cloud hyperscalers, and consulting firms to scale solutions and reach new verticals.

The CPaaS market is evolving rapidly. What Infobip defines as CPaaS 1.0 (SMS and voice) is giving way to CPaaS 2.0 (email, WhatsApp, RCS) and CPaaS 3.0 (AI-powered conversational platforms). Generative AI is emerging as the key differentiator, with players like Twilio, Sinch, and Vonage racing to integrate AI-driven customer engagement tools.

Infobip’s focus on conversational AI, vertical solutions, and “Customer Experience as a Service” (CXaaS) places it firmly in this next wave. Unlike many competitors, it combines a strong telco-grade infrastructure with new SaaS offerings, aiming to deliver hyper-personalised, AI-driven experiences at scale.

For 2025, Infobip has set four strategic pillars: scaling through self-service and partnerships, accelerating AI-enhanced products, fully digitalising operations, and investing in people. Management expects continued revenue growth and margin expansion, though it acknowledges geopolitical uncertainty.

Infobip has aligned with the Science Based Targets initiative (SBTi) to cut emissions in half by 2030 and achieve net-zero by 2050. In the UK, its energy consumption and emissions dropped sharply in 2024 compared with the previous year.

Infobip’s 2024 results mark a pivotal moment. The company has proven it can grow revenues while sharply improving profitability and cash flow. Compared with 2023, it reduced losses and strengthened its balance sheet, positioning itself better against global leaders in CPaaS. If 2023 was a year of transition, then 2024 was the year Infobip showed its model can scale profitably — and 2025 will test whether it can translate momentum in RCS and AI into market share gains worldwide.