Slide 1: Amdocs Limited Fiscal Q2 2023 Earnings Presentation
Exhibit 99.2 Amdocs Limited NASDAQ: DOX Fiscal Q2 2023 Earnings Presentation May 10, 2023 Shuky Sheffer President & CEO Tamar Rapaport-Dagim CFO & COO Information Security Level 3 – Highly sensitive. © 2023 – Proprietary & Confidential Information of Amdocs 1
Slide 2: Forward-looking statements disclaimer
The information contained herein in this presentation or delivered or to be delivered to you during this presentation does not constitute an offer, expressed or implied, or a recommendation to do any transaction in Amdocs Limited securities or in any securities of its affiliates or subsidiaries. Thi
Slide 3: Today's Speakers
Today’s Speakers Shuky Tamar Sheffer Rapaport-Dagim President & Chief Financial Officer & Chief Executive Officer Chief Operating Officer IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2023 23 – – P Pr rop opr riie et ta ar ry y & & Con Conf fii
Slide 4: Earnings call agenda
Earnings call agenda Strategy & Business Performance Update 1 Shuky Sheffer, President & Chief Executive Officer Financial Review & Outlook 2 Tamar Rapaport-Dagim, Chief Financial Officer & Chief Operating Officer Q&A 3 IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 3 0 – – H Pu
Slide 5: Strategy and Business Performance Update
President & Chief Executive Officer Strategy and Business Performance Update IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2023 23 – – P Pr rop opr riie et ta ar ry y & & Con Conf fiid de en nt tiia all IIn nf for orm ma at tiion on of of A Am
Slide 6: Q2-23 solid quarter with significant achievements
Q2-23 solid quarter with significant achievements • Deepened relationships & • High number of successful expanded footprint with project deployments Strong existing customers execution & Sales • Record revenue quarter in operations momentum • 4 new customer logo wins managed services • Strategic par
Slide 7: Q2 financial highlights: Record revenue, continued sales momentum and ongoing margin improvement
Q2 financial highlights: Record revenue, continued sales momentum and ongoing margin improvement Non-GAAP (2) Revenue Non-GAAP EPS 12-month backlog (2) operating margin Record Record $1.47 $4.11B 17.8% $1.22B +20bps YoY Above guidance (1) Consistent with − Up ~7% YoY midpoint and up Record high guid
Slide 8: Q2-23 operational highlights
Q2-23 operational highlights Continuous sales momentum Strong execution High rate of successful project deployment North America: Deepened Significant digital relationships & expanded modernization award footprint with existing Played an important role in the recent launch customers of fixed wireles
Slide 9: Progress in strategic domains (1/4)
Progress in strategic domains (1/4) Enable our customers to drive growth, improve cost-efficiency and provide an amazing experience to consumers and enterprises B2B customers Selected wins Business value End-to-end cloud Greater agility efficiency and migration services scalability for business-crit
Slide 10: Progress in strategic domains (2/4)
Progress in strategic domains (2/4) Enable our customers to drive growth, improve cost-efficiency and provide an amazing experience to consumers and enterprises B2B customers Selected wins Business value Digital Consumer and B2B Powerful insightful and transparent digital transformation experiences
Slide 11: Progress in strategic domains (3/4)
Progress in strategic domains (3/4) Enable our customers to drive growth, improve cost-efficiency and provide an amazing experience to consumers and enterprises B2B customers Selected wins Business value 5G Leading North Network policy monetization America service Support millions of prepaid subscri
Slide 12: Progress in Strategic Domains (4/4)
Progress in Strategic Domains (4/4) Enable our customers to drive growth, improve cost-efficiency and provide an amazing experience to consumers and enterprises B2B customers Selected wins Business value Network Automated 5G network First use case successfully demonstrated automation slice solution
Slide 13: Looking Ahead: Reiterating FY2023 financial targets
Looking Ahead: Reiterating FY2023 financial targets While Amdocs and its customer globally are not immune to economic uncertainty and market dynamics, we believe in our unique business model which produces visible, high recurring revenue B A On track to achieve our FY23 Tightening revenue Non-GAAP o
Slide 14: Financial Update & Outlook
Chief Financial Officer & Chief Operating Officer Financial Update & Outlook IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2023 23 – – P Pr rop opr riie et ta ar ry y & & Con Conf fiid de en nt tiia all IIn nf for orm ma at tiion on of of A Am
Slide 15: Q2 2023 Results
Q2 2023 Results Q2 2023 Revenue vs. Guidance $ Millions Q2 Revenue Above guidance $1,223 million midpoint (1) +6.8% YoY, +8.2% constant currency Above guidance midpoint $1,223 $1,220 ($1,200M - $1,240M) (2) Q2 Non-GAAP Operating Margin Original Q2F23 Q2F23A Guidance (midpoint) 17.8%, +20bps YoY +10
Slide 16: 12-Month Backlog
12-Month Backlog Record Quarterly 12-Month Backlog in Q2F23 12-month backlog growth has accelerated $ Billions year-over-year over the past several quarters $4.11 $4.09 as of $3.97 ~ +7% YoY cc $3.95 March 31, 2023 (1) (1) $3.89 ~ +5.7% YoY $3.83 ~ +5.7% YoY, YoY cc (1) (1) Q1F22 Q2F22 Q3F22 Q4F22 Q
Slide 17: Managed Services Revenue: Q2 2023
Managed Services Revenue: Q2 2023 $ Millions Managed services arrangements support Managed Services business model $719 $663 resiliency with highly recurring revenue ~ +8.4% streams, multi-year YoY engagements and high renewal rates, and may also include Quarter large-scale digital Q2F22 Q2F23 ~ +8.
Slide 18: Free cash flow bridge and cash, credit facility and debt position
(2) DSO’s Q2 2023 Free cash flow bridge 74 days -7 days YoY and -13 days QoQ $35 $294 DSO’s may fluctuate from quarter to quarter $259 * Deferred revenue > unbilled +$102 million QoQ Deferred revenue: +$88M QoQ Unbilled receivables: -$14M QoQ Items fluctuate from quarter to quarter in line with norm
Slide 19: Q2 2023 Cash Returned to Shareholders
Q2 2023 Cash Returned to Shareholders Quarterly Dividend $ Millions Board authorized quarterly dividend payment: Dividends, $48 43.5 cents Share repurchases, As of March 31, roughly $0.3B of share $106 repurchase authorization capacity remained (1) free cash flow (FCF) (1)(3)(4) Normalized FCF : Thr
Slide 20: Revenue Growth and Non-GAAP EPS Growth
Revenue Growth (4) YoY% Growth Constant Currency (1) (4) FY21 and FY22 revenue is pro forma constant currency Tightening 9.0% range to ~7%- 9% YoY (8% midpoint 10.3% 7.0% unchanged) 7.0% 2.4% 4.1% (1)(4) (1)(4) (4) FY2023E revenue growth outlook tightened to FY2019 FY2020 FY2021 FY2022 FY2023E (4) ,
Slide 21: Committed to ESG
Committed to ESG International Women’s Day campaign- Presented an interactive Break the map showcasing how Completed the move to Bias technology can help our the new Amdocs clients achieve Park campus ESG & sustainable in March development goals Digital inclusion - total of 60,000 hours of internet
Slide 22: Q&A
Q&A Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 22 22
Slide 23: Let's make it amazing
Let's . make it amazing ©: amdocs
Slide 24: Q3 Fiscal 2023 Outlook
Q3 Fiscal 2023 Outlook $1,215 - $1,255 million Revenue GAAP EPS $1.16 - $1.26 (1) Non-GAAP EPS $1.45 - $1.51 Share Count 121 million In line with annual target (1) Non-GAAP Effective Tax Rate range of 13%-17% Full Year Fiscal 2023 Outlook Updated Previous On-track to deliver double- Revenue growth 6
Slide 25: Appendix Reconciliation Tables
Appendix Reconciliation Tables Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 25 25
Slide 26: (a) The amounts under Purchase of property and equipment, net” include proceeds from sale
(a) The amounts under Purchase of property and equipment, net” include proceeds from sale of property and equipmentof $255 and $555 for the six months ended March 31, 2023 and 2022, respectively. (b) Since Q12023, the Normalized Free Cash Flow is no longer applicable. Information Security Level 0– P
Slide 27: Information Security Level 0– Public© 2022 – Proprietary & Information Security Level 0 –
Information Security Level 0– Public© 2022 – Proprietary & Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 27 27 Confidential Information of Amdocs
Slide 28: Information Security Level 0– Public© 2022 – Proprietary & Information Security Level 0 –
Information Security Level 0– Public© 2022 – Proprietary & Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 28 28 Confidential Information of Amdocs
Slide 29: Let's make it amazing
Let's . make it amazing ©: amdocs