Slide 1: Amdocs Limited Fiscal Q4 2025 Earnings Presentation
Amdocs Limited NASDAQ: DOX Fiscal Q4 2025 Earnings Presentation November 11, 2025 Shuky Sheffer President & CEO Tamar Rapaport-Dagim CFO & COO
Slide 2: Disclaimer
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 subsid
Slide 3: Today's Speakers
Today’s Speakers Shuky Sheffer President & Chief Executive Officer Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer 3 Information Security Level 0 – Public. © 2025 Public. © 2025 – Proprietary & Confidential Information of Amdocs
Slide 4: Earnings Call Agenda
Earnings Call Agenda 1 Strategy & business performance update Shuky Sheffer, President & Chief Executive Officer 2 Financial review & outlook Tamar Rapaport-Dagim, Chief Financial Officer & Chief Operating Officer 3 Q&A 4 Information Security Level 2 – Sensitive. © 2025 – Proprietary & Confidential
Slide 5: Strategy & business performance update
Shuky Sheffer President & Chief Executive Officer Strategy & business performance update 5 Information Security Level 0 – Public. © 2025 Public. © 2025 – Proprietary & Confidential Information of Amdocs
Slide 6: Fiscal 2025, Another Important Year For Amdocs
Fiscal 2025, Another Important Year For Amdocs Delivered another year of double-digit cloud Thank you growth, now over ~30% of revenue to our global team Managed services accounted for a Your commitment has fueled solid record 66% of total revenue financial results and advanced our cloud, digital &
Slide 7: Q4 FY2025: Solid Financial Results
Q4 FY2025: Solid Financial Results Non-GAAP Revenue Non-GAAP EPS(3) 12-month backlog operating margin(3) $1.15B 21.6% $1.83 $4.19B Up ~2.8% YoY(1)(2) +290 bps YoY Slightly above Up $40M sequentially guidance midpoint Above guidance midpoint +20 bps QoQ +3.2% YoY 1. For comparison purposes, pro forma
Slide 8: Q4 FY2025 Key Highlights
Q4 FY2025 Key Highlights Important win at AT&T Cloud modernization & Continued our generative eSIM Entitlement migration awards AI commercial momentum Server amAIz agent Germany Multi-year SaaS managed services Extend Telefonica’s billing platform agreement leveraging our eSIM for both consumer & en
Slide 9: Strategic Growth Framework
Strategic Growth Framework Deliver the tech-led products and services our customers need Accelerate the journey to the cloud Maximize the value of generative AI & data across our customers’ footprint Digitalize customer experience for consumer and B2B Monetize next-generation network investments Str
Slide 10: Progress in Strategic Domains - Cloud
Progress in Strategic Domains - Cloud Strong Cloud Accelerate the journey to the cloud partnerships Selected projects Business value Cloud transformation, moving mission critical Strengthen digital foundation and ensure scalability BSS applications to Google Cloud Migrate on-premises wireless moneti
Slide 11: Progress in Strategic Domains – Generative AI
Progress in Strategic Domains – Generative AI Generative AI Simplify and accelerate the adoption of Generative AI and data Selected projects Business value Extend Telefonica’s billing Leverage Amdocs’ amAIz Sales agent, for Germany platform for both consumer smoother promotion of new products, and a
Slide 12: Progress in Additional Key Strategic Pillars (1/2)
Business value Progress in Additional Key Strategic Pillars (1/2) Finland Mexico Digital modernization Digital BSS Digital program 10-years agreement to modernize B2C Multi-year agreement to build its Enhance self-service experiences mobile platform for its prepaid and next-gen digital BSS enhanced
Slide 13: Progress in Additional Key Strategic Pillars (2/2)
Business value Progress in Additional Key Strategic Pillars (2/2) Brazil Billing Charging Realtime billing platform & transformation modernization multi-year services agreement Consolidate multiple billing operations Accelerate time-to-market and boost Enable full-scale convergence onto a unified, c
Slide 14: Investing for Generative AI-driven Growth
Investing for Generative AI-driven Growth Developing Future-ready Platforms and Capabilities There is now the potential to unlock even greater opportunities to enhance experience, agility, and efficiency Ecosystem Next Gen Operations Accelerating generative AI investments now to open new pathways fo
Slide 15: Current Operating Environment
Current Operating Environment Healthy 12-month backlog visibility • Strong overall book of long-term business supported by our recent win momentum Rich pipeline of opportunities across cloud, digital, network and generative AI • Large serviceable addressable market of nearly $60 billion Uncertain ma
Slide 16: Initiating FY2026 Outlook
Initiating FY2026 Outlook A B 1.0%-5.0% $710m-$730m YoY growth Free cash Revenue(1) Expect 3.0% midpoint ~90% earning-to-cash flow flow(3) in constant currency(1) conversion, and attractive free cash flow yield(3)(4) of ~8% C D 21.3% - 21.9% 4.0%-8.0% % margin YoY growth Non-GAAP Non-GAAP EBIT(2) Ex
Slide 17: Financial review & outlook
Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer Financial review & outlook 17 Information Security Level 0 – Public. © 2025 Public. © 2025 – Proprietary & Confidential Information of Amdocs
Slide 18: Solid Q4 FY2025 Financial Results
Solid Q4 FY2025 Financial Results Key Metrics: Revenue Q4 2025 Revenue vs. Guidance $ Millions $1,150m -9.0% YoY as reported $1,150 $1,145 +2.8% YoY pro forma(1) constant currency(2) Above guidance midpoint, with no impact from foreign Non-GAAP(3) Operating Margin currency movements compared with gu
Slide 19: Full Year Fiscal 2025 Financial Highlights
Full Year Fiscal 2025 Financial Highlights Revenue Growth Non-GAAP(4) EPS Key Metrics: YoY% growth constant currency(3) YoY % Growth Revenue FY2021 & FY2022 are pro forma(2) $4,533m -9.4% YoY as reported FY2025 +8.5% - in FY2025 +3.1% - line with guidance +3.1% YoY pro forma(1) constant currency(3)
Slide 20: Ongoing Diversification & Growing International Traction in FY2025
Ongoing Diversification & Growing International Traction in FY2025 Double-digit growth in cloud • Equating to over 30% of total revenue, up from ~25% in FY2024 Ongoing business diversification and growing traction in international markets • 6 of our top 12 customers are international, of which 2 are
Slide 21: Record Managed Services Revenue in FY2025
Record Managed Services Revenue in FY2025 Supporting visibility and business resilience Record Managed Services ~$2,996m Close to managed services ~100% contract renewals 66% of FY 2025 revenue Managed services arrangements support business model resiliency with highly recurring revenue streams, mul
Slide 22: Strong Balance Sheet & Cash Flow
Strong Balance Sheet & Cash FY 2025 Free cash flow(1) bridge Flow FCF before restructuring payments of $90M was $735M, above guidance of $710-730M Ample liquidity to support ongoing business needs while $749 $104 $735 retaining the capacity to fund future strategic growth investments $645 * Liquidit
Slide 23: Disciplined Capital Allocation
Disciplined Capital Allocation Dividends $58 FCF: Five-year historical trend and FY2026E outlook Share repurchases 140% $136 % FCF(1)(3)(4)(5)(6)/ 88% 102% 101% 93% 94% 90% $194M Non-GAAP Net Income(1) Returned to shareholders in Q4 FY2026E % of FCF(1)(3)(4)(5)(6) 100% 99% 104% 96% 112% 106% guidanc
Slide 24: Leading Indicators & Visibility: 12-month Backlog
Leading Indicators & Visibility: 12-month Backlog 12-Month Backlog Leading Indicator $4.19B 12-month backlog includes: Anticipated revenue related to contracts Up 3.2% YoY ~90% Estimated revenue from managed services contracts 12-month backlog as percent Letters of intent of forward 12-month revenue
Slide 25: FY2026 Revenue Growth Outlook
FY2026 Revenue Growth Outlook Expected FY2026 revenue growth: 1.7%-5.7% as reported Revenue Growth YoY% Growth Constant Currency(3) 1.0%-5.0% YoY in constant currency (3) 10.3% • Expect strong FY2025 sales momentum to 7.7% contribute to FY2026 revenue growth, with a 7.0% stronger second half assumed
Slide 26: Sustained Margin Expansion in FY2026
Sustained Margin Expansion in FY2026 Balancing strategic growth investments with ongoing cost and efficiency benefits Annual Non-GAAP(1) Operating Margin: FY2020 – FY2026E(2) FY2026: +20 bps YoY at guidance midpoint +20 bps at the midpoint of the 21.9% 21.6% new and improved target 21.4% 21.7% 21.3%
Slide 27: Outlook for High Single-digit Expected Total Shareholder Returns in FY2026
Outlook for High Single-digit Expected Total Shareholder Returns in FY2026 14.1% 13.6% Total Shareholder Return(3)(4) 11.7% 11.2% 11.1% Non-GAAP(2) Diluted EPS Growth YoY % + Dividend Yield 12.1% 11.5% 8.7%* FY21 and FY22 non-GAAP(2) EPS growth is presented pro forma(1) 9.8% 9.0% 8.5% 8.0% Expects E
Slide 28: Q&A
al © amdocs » make it amazing Q&A
Slide 29: Appendix: Outlook & Reconciliation Tables
Appendix Outlook & Reconciliation Tables 29 Information Security Level 2 – Sensitive. © 2025 – Proprietary & Confidential Information of Amdocs
Slide 30: Q1 & FY2026 Outlook
Q1 & FY2026 Q1 Fiscal 2026 Outlook Revenue $1,135 - $1,175 million Outlook GAAP EPS $1.36 - $1.44 Non-GAAP(1) EPS $1.73 - $1.79 Share Count 109 million Positioned for high single-digit expected total shareholder returns in FY2026 Full Year Fiscal 2026 Outlook Revenue growth 1.7% - 5.7% As reported R
Slide 31: Reconciliation Tables
Reconciliation Tables a) During the three months ended December 31, 2024, we phased out several low-margin, non- core business activities, which were included in the prior periods numbers. b) The amounts under "Purchase of property and equipment, net”, include immaterial proceeds from sale of proper
Slide 32: Reconciliation Tables
Reconciliation Tables a) During the three months ended December 31, 2024, we phased out several low-margin, non- core business activities, which were included in the prior periods numbers. Information Security Level 0 – Public. © 2025 Public. © 2025 – 32 32 Information Security Level 0 – Public. © 2
Slide 33: Reconciliation Tables
Reconciliation Tables a) During the three months ended December 31, 2024, we phased out several low-margin, non- core business activities, which were included in the prior periods numbers. Information Security Level 0 – Public. © 2025 Public. © 2025 – 33 33 Information Security Level 0 – Public. © 2
Slide 34: Thank You
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