Slide 1: Fiscal Q1 2026 Earnings Presentation
Amdocs Limited NASDAQ: DOX Fiscal Q1 2026 Earnings Presentation February 3, 2026 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. © 2026 – 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 0 – Public. © 2026 – Proprietary & Confidential Inf
Slide 5: Strategy and business performance update
Shuky Sheffer President & Chief Executive Officer Strategy and business performance update 5 Information Security Level 0 – Public. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 6: Q1 FY2026: A Solid Start to the Fiscal Year
Q1 FY2026: A Solid Start to the Fiscal Year Non-GAAP Revenue Non-GAAP EPS(2) 12-month backlog operating margin(2) $1.16B 21.6% $1.81 $4.25B Up 4.1% YoY +40bps YoY Above Up 2.7% YoY Up 3.5% YoY(1) Driven by internal efficiency the guidance range, gains balanced with primarily due to a lower- Slightly
Slide 7: Q1 FY2026 Key Highlights
Q1 FY2026 Key Highlights Multi-year Expanded global Market leader in data agreement customer footprint and GenAI • Extended our long-standing Additional GenAI-related win: strategic collaboration Germany Expanded Multi-year engagement • The agreement Includes: Selected to deliver advanced AI- • Mana
Slide 8: Strategic Growth Framework
Strategic Growth Framework Deliver the tech-led products and services our customers need Maximize the value of generative AI & data across our customers’ footprint Accelerate the journey to the cloud Digitalize customer experience for consumer and B2B Monetize next-generation network investments Str
Slide 9: Progress in Strategic Domains – Generative AI (1/2)
Progress in Strategic Domains – Generative AI (1/2) Simplify and accelerate the adoption of Generative AI Generative AI and data Selected projects Business value Recently teamed up with NVIDIA and Designed to meet Canadian data residency and Telus to deliver advanced AI-powered compliance mandates t
Slide 10: Progress in Strategic Domains – Generative AI (2/2)
Progress in Strategic Domains – Generative AI (2/2) The world’s first agentic operating Agentic Operations CSP AI system for Telecom Ecosystem Cognitive Core Open GenAI foundation with telco-specific agents, Agentic Cognitive Core multi-LLM support, and built-in security and governance Services MCP
Slide 11: Progress in Strategic Domains - Cloud
Progress in Strategic Domains - Cloud Strong Cloud Accelerate the journey to the cloud partnerships Selected projects Business value Key infrastructure stack support, as part Modernize core infrastructure faster, reduce of AT&T’s cloud migration journey transformation risk, and improve operational e
Slide 12: Progress in Additional Key Strategic Pillars
Progress in Additional Key Strategic Pillars Business value Germany Italy Multi-year Digital transformation Added 2 new logos OMS Amdocs platform Simplify IT architecture across Vodafone’s Won significant transformation awards Unified end-to-end order management fragmented cable portfolio with two n
Slide 13: Current Operating Environment
Current Operating Environment Significant room to grow within our large addressable market of nearly $60B • Tapping new domains at our largest, longstanding customers • Capturing additional wallet-share at existing customers and new logos • Diversifying in new geographies, such as Japan, Africa and
Slide 14: Reiterating our FY2026 outlook
Reiterating our FY2026 outlook A B 1.0%-5.0% $710m-$730m YoY growth Reiterate $720m midpoint Free cash Revenue(1) Reiterate 3.0% midpoint ~90% earning-to-cash flow flow(3) conversion, and attractive free in constant currency(1) cash flow yield(3)(4) of ~8% C D 21.3%-21.9% 4.0%-8.0% % margin YoY grow
Slide 15: Shimie Hortig to Succeed Shuky Sheffer as President and CEO
Shimie Hortig to Succeed Shuky Sheffer as President and CEO, Effective March 31, 2026 Shimie Hortig • President of the Americas Group, Amdocs’ largest region • Led company-wide strategic growth initiatives and built strong partnerships • A versatile and long-tenured Amdocs leader with senior roles a
Slide 16: Financial review & outlook
Tamar Rapaport-Dagim Chief Financial Officer & Chief Operating Officer Financial review & outlook 16 Information Security Level 0 – Public. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 17: Solid Q1 FY2026 Financial Results
Solid Q1 FY2026 Financial Results Key Metrics: Revenue Q1 2026 Revenue vs. Guidance $ Millions $1,156m +4.1% YoY as reported $1,155 $1,156 Revenue slightly above guidance midpoint, even with +3.5% YoY constant currency(1) unfavorable foreign currency movements of roughly $3M Non-GAAP(2) Operating Ma
Slide 18: Managed Services
Managed Services Supporting visibility and business resilience 760.0 Managed Services revenue 750.0 ~$746m Close to managed services 740.0 ~100% contract renewals 730.0 720.0 ~65% of Q1 FY2026 710.0 revenue Managed services arrangements support business model resiliency with highly recurring 700.0 r
Slide 19: Strong Balance Sheet & Cash Flow
Strong Balance Sheet & Cash Q1 2026 Free cash flow(1) bridge Flow 300 FCF before restructuring payments of $49M was $237M in Q1 250 $237 $220 $32 Ample liquidity to support ongoing business needs while 200 retaining the capacity to fund future strategic growth 150 $188 * investments 100 Liquidity: C
Slide 20: Disciplined Capital Allocation
Disciplined Capital Allocation Dividends $57 FCF: Six-year historical trend and FY2026E outlook Share repurchases 140% $146 % FCF(1)(3)(4)(5)(6)/ 88% 102% 101% 93% 94% 90% $203M Non-GAAP Net Income(1) Returned to shareholders in Q1 FY2026E % of FCF(1)(3)(4)(5)(6) 100% 99% 104% 96% 112% 106% guidance
Slide 21: Leading Indicators & Visibility: 12-month Backlog
Leading Indicators & Visibility: 12-month Backlog 12-Month Backlog Up $60M QoQ 12-month backlog includes: Anticipated revenue related to contracts $4.25B Up 2.7% YoY Estimated revenue from managed services contracts Letters of intent Quarterly 12-Month Backlog Growth YoY % Maintenance 3.5% Estimated
Slide 22: FY2026 Revenue Growth Outlook
FY2026 Revenue Growth Outlook FY2026 revenue growth: Reiterating 1.0%-5.0% YoY Revenue Growth constant currency(3) YoY% Growth Constant Currency(3) 10.3% • Expects 1.5%-5.5% as reported, including a foreign currency benefit of 50 bps compared 7.7% 7.0% with 70 bps previously 5.0% • Matrixx Software
Slide 23: 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 YoY at the midpoint of the FY2026 target range of 21.6% 21.3%-21.9% 21.9% 21
Slide 24: On-track for High Single-digit Expected Total Shareholder Returns in FY2026
On-track 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
Slide 25: Q&A
Q&A 25 Information Security Level 0 – Public. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 26: Appendix
Appendix Outlook & Reconciliation Tables 26 Information Security Level 0 – Public. © 2026 – Proprietary & Confidential Information of Amdocs
Slide 27: Q2 & FY2026 Outlook
Q2 & FY2026 Q2 Fiscal 2026 Outlook Revenue $1,150 - $1,190 million Outlook GAAP EPS $1.22 - $1.30 Non-GAAP(1) EPS $1.73 - $1.79 Share Count 107 million Positioned for high single-digit Non-GAAP effective tax rate above the annual expected total shareholder returns Tax guidance range in Q2 specifical
Slide 28: Reconciliation Tables
Reconciliation Tables a) The amounts under "Purchase of property and equipment, net”, include immaterial proceeds from sale of property and equipment for all periods presented. Information Security Level 0 – Public. © 2025 Public. © 2025 – 28 28 Information Security Level 0 – Public. © 2025 Public.
Slide 29: Reconciliation Tables
Reconciliation Tables Information Security Level 0 – Public. © 2025 Public. © 2025 – 29 29 Information Security Level 0 – Public. © 2025 Public. © 2025 – Proprietary & Confidential Information of Amdocs Proprietary & Confidential Information of Amdocs
Slide 30: Thank You
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