Slide 1: Fiscal Q1 2022 Earnings Presentation
Fiscal Q1 2022 Earnings Presentation February 1, 2022 Shuky Sheffer President & CEO Tamar Rapaport-Dagim CFO & COO
Slide 2: Forward-looking statements and non-GAAP 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 3 Information Security Level 0 – Public. © 2022 2022 – Proprietary & Confidential Information of Amdocs
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 3 Q&A 4 Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Inf
Slide 5: Strategy and business performance update
President & Chief Executive Officer Strategy and business performance update 5 Information Security Level 0 – Public. © 2022 2022 – Proprietary & Confidential Information of Amdocs
Slide 6: Strategy and business performance update
Strategy and business performance update 1 Q1 FY2022: business and financial achievements 2 Q1 FY2022 progress in strategic domains: executing against our key growth pillars 3 Financial outlook 6 Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs
Slide 7: Great start to FY2022
Great start to FY2022 Delivering accelerated revenue growth by bringing market-leading innovation designed to meet the industry’s megatrends Strong sales Execution M&A momentum Additional awards with many of Acquired our long-standing global customers Record number DevOpsGroup of customer milestones
Slide 8: Enriching lives, progressing society
Enriching lives, progressing society Our ESG journey Recognized for our diversity & inclusion impact: Peru Mexico Israel Government Human Rights National recognition for Campaign best award Amdocs’s places to work for for diversity in commitment for LGBTQ+ business inclusion For a 3rd year in a row:
Slide 9: Committed to our people
Committed to our people A warm welcome to all those who have recently joined the Amdocs family, and my sincere thanks to all our people for their dedication, resilience and commitment to ensuring a great start to our fiscal year to our 29,000 people worldwide 9 Information Security Level 0 – Public.
Slide 10: Strong performance in Q1-FY2022
Strong performance in Q1-FY2022 Revenue 1,2 12-month backlog 1 Non-GAAP EPS 3 $1,105M, accelerated Record of $3.83B $1.20 growth of 10.6% YoY Driven by North America, Above guidance +9.7% YoY with high activity levels midpoint +$140M QoQ across top customers ($1.15 $1.21) 1. Pro forma. excludes the
Slide 11: Progress in Strategic Domains
Progress in Strategic Domains Market-leading innovation to support our customer’s critical business needs, and provide an amazing experience to consumer and enterprise customers CLOUD 5G NETWORK DIGITAL MEDIA AUTOMATION Journey to the cloud: 5G monetization: support Digital modernization: Network au
Slide 12: Looking ahead: a new era of accelerated growth
Looking ahead: a new era of accelerated growth Providing three-year FY2022-2024 annual revenue growth outlook of 6%-10%(1)(2) A Highly recurring revenue, strong FY2022-2024 (1)(2) business visibility and durable multi 6.0%-10.0% Revenue year customer engagements Annual three-year revenue growth targ
Slide 13: Financial Update & Outlook
Chief Financial Officer & Chief Operating Officer Financial Update & Outlook 13 Information Security Level 0 – Public. © 2022 2022 – Proprietary & Confidential Information of Amdocs
Slide 14: Q1 2022 Results
Q1 2022 Results Q1 2022 Revenue vs. Guidance $ Millions Q1 Revenue $1,105 million +10.6% YoY (1)(2) Above guidance midpoint $1,105 ($1,080M $1,120M) $1,100 Q1 Non-GAAP(3) Operating Margin Record revenue in Q1 2022 Original Q1F22 Q1F22A 17.5%, +20 bps YoY Guidance (midpoint) Best-ever quarter in Nort
Slide 15: Record Quarterly 12-Month Backlog in Q1F22
Record Quarterly 12-Month Backlog(1) in Q1F22 12-Month Backlog $ Billions 12-month backlog growth has accelerated year-over-year over the past several quarters $3.83 $3.69 $3.59 +9.7% $3.54 ( (1) record level as of $3.49 YoY December 31, 2021 +9.7% YoY, $140M QoQ Q1F21 Q2F21 Q3F21 (1) Q4F21 Q1F22 Re
Slide 16: Q1 2022 Free cash flow bridge and liquidity
DSO’s Q1 2022 Free cash flow(2) bridge 79 days $ Millions +1 day YoY and +6 days QoQ DSO’s may fluctuate from quarter to quarter $204 $57 $29 $9 $186 $147 Deferred revenue > unbilled +$100 million Deferred revenue: +$86M QoQ Unbilled receivables: -$14M QoQ Items fluctuate from quarter to quarter in
Slide 17: Q1 2022 Cash Returned to Shareholders
Q1 2022 Cash Returned to Shareholders FY2022E Normalized FCF outlook(1) $ Millions $ Millions Dividends, $45 $131 $19 $650 $500 Share repurchases, $171 As of December 31, roughly $0.8B of share Reported Israel Other Normalized Reiterating normalized free cash repurchase authorization capacity remain
Slide 18: Revenue Growth, EPS Growth and Total Shareholder Return
Revenue Growth YoY% Growth Constant Currency(4) FY21 and FY22E revenue is pro forma(1) constant currency(4) 10% Tracking at 7.0% higher end 4.1% of pro forma 2.3% 2.4% 6% guidance Tracking at higher end of pro forma(1) outlooks for revenue (4) (1)(4) (1)(4) FY2018 FY2019 FY2020 FY2021 FY2022E and di
Slide 19: Q&A
Q&A 19
Slide 20: Let's make it amazing
Let's . make it amazing ©: amdocs
Slide 21: Appendix Reconciliation Tables
Appendix Reconciliation Tables 21
Slide 22: Q2 Fiscal 2022E Outlook
Q2 Fiscal 2022E Outlook Revenue $1,110 $1,150 million GAAP EPS $0.96 $1.04 Non-GAAP(2) EPS $1.22 $1.28 Share Count 124 million Effective Tax Rate Above high-end of annual Tracking at higher end of Non-GAAP(2) target range of 13%-17% pro forma(1) outlooks for revenue (3) and diluted non Full Year Fis
Slide 23: Q2 Fiscal 2022E Outlook
Q2 Fiscal 2022E Outlook Revenue $1,110 $1,150 million GAAP EPS $0.96 $1.04 Non-GAAP(2) EPS $1.22 $1.28 Share Count 124 million Effective Tax Rate Above high-end of annual Tracking at higher end of Non-GAAP(2) target range of 13%-17% pro forma(1) outlooks for revenue (3) and diluted non Full Year Fis
Slide 24: Reconciliation from GAAP to Non-GAAP, three months ended December 31, 2021
AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Three months ended December 31, 2021(a) Reconciliation items GAAP Amortization Equity based Changes in certain Gain from Other Tax Non-GAAP of compensation acquisitions related sale of a effect purchased
Slide 25: Reconciliation from GAAP to Non-GAAP, three months ended December 31, 2020
AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Three months ended December 31, 2020 Reconciliation items GAAP Amortization Equity based Changes in certain Gain from Other Tax Non-GAAP of compensation acquisitions related sale of a effect purchased ex