Temenos Ag · SIX:TEMN

Temenos — Q1 2026 Earnings Presentation

40 slides from Temenos's earnings presentation, Apr 21, 2026

Slide 2: Business Update and Financial Results
Business Update and Financial Results Takis Spiliopoulos, CEO & interim CFO 21 April 2026 Quarter ended, 31 March 2026 Copyright © 2026 Temenos Copyright © 2026 Temenos 2
Slide 3: Disclaimer
Disclaimer Our presentation and this document may contain forward-looking statements relating to the future of the business and financial performance of Temenos AG. Any statements we make about our expectations, plans and prospects for the Company, including any guidance on the Company’s financial p
Slide 4: Non-IFRS information
Non-IFRS information In its presentation and in this document, the Company may present and discuss non-IFRS measures. Readers are cautioned that non-IFRS measures are subject to inherent limitations. Non-IFRS measures are not based on any comprehensive set of accounting rules or principles and shoul
Slide 6: Q1-26 highlights
Q1-26 highlights Strong Q1-26 performance across all key metrics, product revenue continues to grow above market Sales environment remained stable Good traction with existing customers and new logos across tiers Momentum in US with several deals progressing through the pipeline and expected to sign
Slide 7: Continued momentum with banks across geographies and tiers
Continued momentum with banks across geographies and tiers Key deal wins in Q1-26 Japan Tier 1 Bank Leading Swiss Private Bank Middle East Tier 2 Bank Expansion of existing relationship Adopted broader suite of payment Extension of SaaS based core banking through adoption of newer core and solutions
Slide 8: Al Salam Bank: Scaling Boldly with a Core Built for Continuous Growth
Al Salam Bank: Scaling Boldly with a Core Built for Continuous Growth • Modernize legacy environment to remove complexity and enable scalable growth • Support rapid integration of acquisitions and streamline operations Background • Improve speed, resilience and ability to respond to customer and mar
Slide 9: High AI adoption threshold creates a strong moat for Temenos
High AI adoption threshold creates a strong moat for Temenos High • Trusted domain expertise • Highly complex workflows embedded across the platform • Proprietary data • Extensive auditability requirements • Significant product configurability • Market-by-market variations • High security & reliabil
Slide 10: A well-defined AI strategy to capitalize on our structural advantage
A well-defined AI strategy to capitalize on our structural advantage Lower TCO Build on our structural • Conversational Interfaces: Launched Temenos Copilot for Core advantage • AI Agents: Launched FCM AI Agent for Sanctions Screening with more Product coming in Core, Payments, Digital & Wealth Glob
Slide 11: Strategy execution update
Strategy execution update Product & technology Progress investment Progress on product roadmap, on track for new product launches across Core, Digital and composability in Q2 Go To Market Continued investing in the business, with senior hires in the investment global sales organization to drive core
Slide 13: Strong ARR and product revenue growth
Strong ARR and product revenue growth +13% 861 +14% 219 759 193 Q1-25 (Proforma) Q1-26 Q1-25 (Proforma) Q1-26 ARR, USDm Product Revenue, USDm ARR growth of 13% in Q1-26 Note: Figures are non-IFRS and in constant currencies. Q1-25 figures are proforma. Proforma excludes Multifonds. Product revenue in
Slide 14: Subscription and SaaS growth driving strong total revenue growth
Subscription and SaaS growth driving strong total revenue growth +12% +13% 87 253 78 224 Q1-25 (Proforma) Q1-26 Q1-25 (Proforma) Q1-26 Subscription and SaaS, USDm Total Revenue, USDm Strong total revenue growth of 13% in Q1-26 Note: Figures are non-IFRS and in constant currencies. Q1-25 figures are
Slide 15: Operational leverage and revenue growth driving profitability
Operational leverage and revenue growth driving profitability +20% 83 0,90 +20% 69 0,75 Q1-25 (Proforma) Q1-26 Q1-25 (Proforma) Q1-26 Non-IFRS EBIT, USDm Non-IFRS EPS, USD Strong EBIT growth driven by operating leverage, premium maintenance and cost efficiency gains Note: Figures are non-IFRS and in
Slide 16: Proforma ARR and non-IFRS income statement – operating
Proforma ARR and non-IFRS income statement – operating Q1-26 LTM proforma ARR (USDm) Q1-26 Q1-25 Y-o-Y Y-o-Y c.c. (proforma) reported ARR 860.7 741.4 16% 13% Q1-26 Q1-25 Y-o-Y Y-o-Y c.c. Q1-26 LTM Q1-25 LTM Y-o-Y Y-o-Y c.c. Income statement (USDm) (proforma) reported (proforma) (proforma) reported S
Slide 17: Non-IFRS income statement – non-operating
Non-IFRS income statement – non-operating Proforma Q1-26 Q1-25 Y-o-Y In USDm, except EPS reported EBIT 82.7 69.5 19% Net finance charge (3.2) (1.8) 82% FX gain / (loss) (0.5) (0.8) (34%) Tax (17.8) (13.5) 32% Net profit 61.1 53.5 14% EPS (USD) 0.90 0.75 20% Note: Figures are non-IFRS. Proforma exclu
Slide 18: Strong free cash flow growth
Strong free cash flow growth +22% 60 49 Q1-25 (proforma) Q1-26 FCF, USDm Free cash flow growth of 22% in Q1-26 Note: Figures are non-IFRS. Proforma excludes Multifonds from prior quarters. The sale of Multifonds was completed in Q2-25. Copyright © 2026 Temenos 18
Slide 19: Group liquidity (reported)
Group liquidity (reported) USDm (4) (17) 4 84 204 (104) (25) 137 (5) (782) (609) Cash on Operating Cash Tax Capex Net Proceeds Share Buyback Net Proceeds / Interest, FX Cash on Borrowings Reported Balance Sheet on Disposal Repayment of & Leases Balance Sheet Net Debt (31/12/25) of Business Borrowing
Slide 20: Debt, leverage and capital allocation
Debt, leverage and capital allocation Completed share buyback for total of CHF 100m in April 2026, representing 1.9% of registered share capital (press release available here). The shares were repurchased for general business purposes, including employee equity incentive plans and/or the financing o
Slide 21: FY-26 guidance reconfirmed (non-IFRS)
FY-26 guidance reconfirmed (non-IFRS) • FY-26 guidance reconfirmed • FY-25 proforma excludes any contribution from Multifonds and is constant currency FY-26 guidance FY-25 proforma (USD, c.c.) ARR (c.c.) c.12% growth 859m Subscription and SaaS (c.c.) c.9% growth 455m EBIT (c.c.) c.9% growth 373m EPS
Slide 22: Reconfirming FY-28 targets (non-IFRS)
Reconfirming FY-28 targets (non-IFRS) • FY-28 targets reconfirmed • FY-25 proforma excludes contribution from Multifonds and is constant currency FY-28 targets (USD) FY-25 proforma (USD, c.c.) Implied CAGR ARR >1.23bn 859m 13% EBIT c.480m 373m 9% Free Cash Flow c.410m 256m* 17% Note: FY28 targets ar
Slide 24: Like-for-like proforma revenue and costs
Like-for-like proforma revenue and costs • Q1-26 LFL non-IFRS revenue up 13% • Q1-26 LFL non-IFRS costs up 10% • Q1-26 LFL non-IFRS product revenue up 14% • Q1-26 LFL non-IFRS product costs up 11% LFL non-IFRS Services revenue, USDm LFL non-IFRS Services cost, USDm LFL non-IFRS Product revenue, USDm
Slide 25: Strong underlying growth across all key metrics
Strong underlying growth across all key metrics Non-IFRS growth rates excluding contribution from BNPL customer in prior quarter +17% +21% Q1-25 Q1-26 Q1-25 Q1-26 ARR Subscription and SaaS +26% +27% Q1-25 Q1-26 Q1-25 Q1-26 Non-IFRS EBIT Non-IFRS EPS Copyright © 2026 Temenos 25
Slide 26: FX and other assumptions underlying FY-26 guidance
FX and other assumptions underlying FY-26 guidance In preparing the FY-26 guidance, the Company has assumed the following FX rates: EUR to USD exchange rate of 1.15 GBP to USD exchange rate of 1.33; and USD to CHF exchange rate of 0.79 The Company has also assumed the following for FY-26 guidance: •
Slide 27: FX exposure
FX exposure % of total USD EUR GBP CHF INR RON Other Subscription and SaaS 77% 11% 2% 2% 0% 0% 8% Maintenance 84% 8% 2% 1% 0% 0% 5% Services 48% 27% 5% 6% 0% 0% 14% Revenues 76% 12% 2% 2% 0% 0% 8% Non-IFRS costs 34% 12% 11% 7% 13% 2% 21% Non-IFRS EBIT 157% 13% (15%) (7%) (26%) (3%) (19%) NB. All % a
Slide 28: Quarterly proforma ARR and FCF
Quarterly proforma ARR and FCF ARR, USD m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 ARR 683.5 703.7 721.4 749.5 741.4 790.6 811.0 859.9 860.7 FCF, USD m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 FCF 43.5 60.6 22.5 96.6 48.8 65.3 29.3 113.0 59.5 Copyright © 2026 Temenos 28
Slide 30: DSOs
DSOs 180 160 160 164 164 160 152 153 151 152 146 147 140 136 133 134 120 100 80 60 40 20 0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Proforma Proforma Proforma Proforma Proforma Proforma DSOs at 164 at Q1-26 Note: Proforma view excludes Multifonds revenue and rece
Slide 31: Balance sheet – leverage
Balance sheet – leverage Leverage ratios 2,0x 1,8x 1,5x 1,4x 1,4x 1,4x 1,3x 1,3x 1,3x 1,2x 1,2x 1,0x 0,5x 0,0x Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Note: Includes Multifonds EBITDA Copyright © 2026 Temenos 31
Slide 32: Capitalization of development costs (proforma)
Capitalization of development costs (proforma) Proforma, USDm Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Cap’ dev’ costs (15.4) (15.0) (15.3) (15.1) (60.7) Amortisation 13.1 13.1 13.1 14.5 53.8 Net cap’ dev’ (2.2) (1.9) (2.2) (0.6) (6.9) USDm Q1-26 Q2-26 Q3-26 Q4-26 FY-26 Cap’ dev’ costs (15.0) Amortisation 13.4
Slide 33: Reconciliation from IFRS to non-IFRS
IFRS revenue measure + Deferred revenue write-down = Non-IFRS revenue measure Reconciliation IFRS profit measure from IFRS to +/- +/- Share-based payments and related social charges Deferred revenue write down non-IFRS +/- Discontinued activities +/- Gain/loss from sale of business +/- Amortisation
Slide 34: Accounting elements not included in non-IFRS guidance
Accounting elements not included in non-IFRS guidance Below are the accounting elements not included in the FY-26 non-IFRS guidance: FY-26 estimated share-based payments charge of c.5% of revenue FY-26 estimated amortisation of acquired intangibles of USD 40m FY-26 estimated restructuring / M&A rela
Slide 35: Earnings Reconciliation – IFRS to non-IFRS (reported)
Earnings Reconciliation – IFRS to non-IFRS (reported) 3 Months Ending 31 Mar 3 Months Ending 31 Mar In USDm, except EPS 2026 2026 2025 2025 IFRS Non-IFRS adj. Non-IFRS IFRS Non-IFRS adj. Non-IFRS Subscription and SaaS 87.2 87.2 80.2 80.2 Maintenance 131.8 131.8 120.9 120.9 Services 33.9 33.9 31.2 31
Slide 36: Net earnings reconciliation IFRS to non-IFRS
Net earnings reconciliation IFRS to non-IFRS In USDm, except EPS Q1-26 Q1-25 IFRS net earnings 39.7 29.0 Share-based payments 13.7 15.6 Amortisation of acquired intangibles 9.4 10.7 Restructuring / M&A related costs 2.9 9.5 Fair value change on financial instruments 0.0 0.0 Taxation (4.7) (6.4) Net
Slide 37: Reported ARR and non-IFRS income statement – operating
Reported ARR and non-IFRS income statement – operating Reported Q1-26 Q1-25 Y-o-Y Y-o-Y c.c. ARR (USDm) reported ARR 860.7 797.0 8% 5% Q1-26 Q1-25 Y-o-Y Y-o-Y c.c. Income statement (USDm) reported Subscription and SaaS 87.2 80.2 9% 7% Maintenance 131.8 120.9 9% 7% Services 33.9 31.2 9% 4% Total reve
Slide 38: Non-IFRS income statement reported – non-operating
Non-IFRS income statement reported – non-operating Reported Q1-26 Q1-25 Y-o-Y In USDm, except EPS reported EBIT 82.7 75.8 9% Net finance charge (3.2) (1.8) 82% FX gain / (loss) (0.5) (0.8) (34%) Tax (17.8) (14.8) 20% Net profit 61.1 58.4 5% EPS (USD) 0.90 0.81 11% Note: Figures are non-IFRS. Proform
Slide 39: Non-IFRS definitions
Other Non-IFRS definitions Proforma (excluding Multifonds) Income statement line items and free cash flow adjusted to remove any contribution from Multifonds which closed in Q2-25. Constant currencies Prior year results adjusted for currency movement Non-IFRS adjustments Like-for-like (LFL) Share-ba

Temenos — Q1 2026 Earnings Presentation on 6ix

Temenos — Q1 2026 Earnings Presentation

Slide 1: Copyright © 2026 Temenos

Slide 2: Business Update and Financial Results

Slide 3: Disclaimer

Slide 4: Non-IFRS information

Slide 5: Agenda

Slide 6: Q1-26 highlights

Slide 7: Continued momentum with banks across geographies and tiers

Slide 8: Al Salam Bank: Scaling Boldly with a Core Built for Continuous Growth

Slide 9: High AI adoption threshold creates a strong moat for Temenos

Slide 10: A well-defined AI strategy to capitalize on our structural advantage

Slide 11: Strategy execution update

Slide 12: Agenda

Slide 13: Strong ARR and product revenue growth

Slide 14: Subscription and SaaS growth driving strong total revenue growth

Slide 15: Operational leverage and revenue growth driving profitability

Slide 16: Proforma ARR and non-IFRS income statement – operating

Slide 17: Non-IFRS income statement – non-operating

Slide 18: Strong free cash flow growth

Slide 19: Group liquidity (reported)

Slide 20: Debt, leverage and capital allocation

Slide 21: FY-26 guidance reconfirmed (non-IFRS)

Slide 22: Reconfirming FY-28 targets (non-IFRS)

Slide 23: Agenda

Slide 24: Like-for-like proforma revenue and costs

Slide 25: Strong underlying growth across all key metrics

Slide 26: FX and other assumptions underlying FY-26 guidance

Slide 27: FX exposure

Slide 28: Quarterly proforma ARR and FCF

Slide 29: Subscription and SaaS revenue breakdown by geography

Slide 30: DSOs

Slide 31: Balance sheet – leverage

Slide 32: Capitalization of development costs (proforma)

Slide 33: Reconciliation from IFRS to non-IFRS

Slide 34: Accounting elements not included in non-IFRS guidance

Slide 35: Earnings Reconciliation – IFRS to non-IFRS (reported)

Slide 36: Net earnings reconciliation IFRS to non-IFRS

Slide 37: Reported ARR and non-IFRS income statement – operating

Slide 38: Non-IFRS income statement reported – non-operating

Slide 39: Non-IFRS definitions

Slide 40: Thank you