Temenos Ag · SIX:TEMN
Temenos — Q2 2026 Earnings Presentation
43 slides from Temenos's earnings presentation, Jul 22, 2026
Slide 1: Copyright © 2026 Temenos
Copyright © 2026 Temenos 1
Slide 2: Business Update and Financial Results
Business Update and Financial Results Takis Spiliopoulos, CEO & interim CFO 22 July 2026 Quarter ended, 30 June 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 5: Agenda
Agenda CEO update Operational and financial update Appendix 5 Copyright © 2026 Temenos 55
Slide 6: Q2-26 overview
Q2-26 overview Stable sales environment throughout the quarter, however subscription and SaaS revenue below expectations due to slippage in a small number of mainly large and new logo deal signings, mostly in Europe Majority of slipped subscription and SaaS revenue signed in first three weeks of Q3-
Slide 7: Momentum with banks across geographies and tiers
Momentum with banks across geographies and tiers Key deal wins in Q2-26 Large commercial bank in Japan Tier 1 Bank Major retail lender in NAM Africa Expansion of existing relationship with Adoption of Core banking on SaaS to Enhancement of Core banking with adoption of latest Core modules to migrate
Slide 8: alrajhi bank: maintaining Islamic banking leadership for a new digital generation
alrajhi bank: maintaining Islamic banking leadership for a new digital generation • World's largest Islamic bank serving 20+ million customers with SAR 1 trillion (US$ 267B) in assets • Faced growing demand from a younger, digital-first customer base expecting faster, more personalized banking Backg
Slide 9: Questbank: Building Canada's new digital bank on Temenos SaaS
Questbank: Building Canada’s new digital bank on Temenos SaaS • Questbank, part of Questrade Financial Group, is launching as Canada’s newest digital bank, aiming to challenge the traditional banking model and compete with the Big Five banks • Received its bank license in October 2025 and is uniquel
Slide 10: Advancing our product roadmap with composable core solutions launched at TCF
Advancing our product roadmap with composable core solutions launched at TCF Cloud-Native and microservices based Temenos Composable Clear functional boundaries Core Solutions Independently deployable Deposits Secure by design API-first and interoperable Temenos Small footprint Composable Core Highl
Slide 11: New agentic AI capabilities announced at TCF with launch of Intelligent Core and Intelligent Digital
New agentic AI capabilities announced at TCF with launch of Intelligent Core and Intelligent Digital Workbench FCM Payments Conversational studio Temenos Copilot Wealth OPS AI Agent for Digital AI product roadmap driving incremental benefits for clients Install Run Upgrade • Rapid deployments • Self
Slide 12: Temenos continues to be recognized as the market leader in core banking
Temenos continues to be recognized as the market leader in core banking Annual Sales League Table 2026 Europe #1 North America #2 21 15 Middle East #1 Consecutive years #1 Rankings including as the world’s #1 core banking, payments, Core Banking risk, treasury, Islamic LATAM Africa Provider banking
Slide 13: Temenos acquired additiv to expand Wealth proposition and AI-drive orchestration
Temenos acquired additiv to expand Wealth proposition and AI-drive orchestration • Extends Temenos market reach into the broader mass affluent segment Wealth proposition • Enables personalized advice at scale through expansion end-to-end wealth journey orchestration • Significantly shortened deliver
Slide 14: Strategy execution update
Strategy execution update Product & technology Progress investment Product roadmap on track with multiple launches at TCF in May including composable deposits and lending Go To Market Investing across the business with senior hires in sales, in investment particular new President North America, Bria
Slide 15: Agenda
Agenda CEO update Operational and financial update Appendix 15 Copyright © 2026 Temenos 1515
Slide 16: Double-digit ARR growth
Double-digit ARR growth -1% +6% +11% 462 881 246 243 438 792 Q2-25 Q2-26 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 ARR, USDm Product Revenue, USDm Consistent delivery on ARR growth Note: Figures are non-IFRS and in constant currencies. Prior year revenue figures are proforma. Proforma excludes M
Slide 17: Subscription and SaaS decline offset by maintenance & services revenue growth
Subscription and SaaS decline offset by maintenance & services revenue growth -4% +6% 204 +1% 534 126 -13% 196 503 279 281 109 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 Subscription and SaaS, USDm Total Revenue, USDm Total revenue growth of 1% in Q2-
Slide 18: Revenue growth and operational leverage driving profitability
Revenue growth and operational leverage driving profitability +4% +10% +7% +12% 116 199 1.31 2.20 111 180 1.22 1.96 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 Non-IFRS EBIT, USDm Non-IFRS EPS, USD Strong EBIT growth driven by operating leverage and pr
Slide 19: Proforma ARR and non-IFRS income statement – operating
Proforma ARR and non-IFRS income statement – operating Q2-26 H1-26 ARR (USDm) Q2-26 Q2-25 Y-o-Y Y-o-Y c.c. (proforma) reported ARR 880.6 790.6 11% 11% Q2-26 Q2-25 Y-o-Y Y-o-Y c.c. H1-26 H1-25 Y-o-Y Y-o-Y c.c. Income statement (USDm) (proforma) reported (proforma) reported Subscription and SaaS 109.0
Slide 20: Non-IFRS income statement – non-operating
Non-IFRS income statement – non-operating Proforma Q2-26 Q2-25 Y-o-Y In USDm, except EPS reported EBIT 116.1 111.6 4% Net finance charge (4.4) (2.8) 57% FX gain / (loss) 0.4 (1.2) (130%) Tax (24.0) (21.0) 14% Net profit 88.1 86.6 2% EPS (USD) 1.31 1.22 7% Note: Figures are non-IFRS. Proforma exclude
Slide 21: Strong double-digit free cash flow growth
Strong double-digit free cash flow growth +14% 74 +17% 134 65 114 Q2-25 (proforma) Q2-26 H1-25 (proforma) H1-26 FCF, USDm Consistent delivery on free cash flow growth, driven by ARR Note: Figures are non-IFRS. Proforma excludes Multifonds from prior quarters. The sale of Multifonds was completed in
Slide 22: Group liquidity (reported)
Group liquidity (reported) USDm (22) (18) 127 (118) (15) 151 137 70 (10) (842) Cash on Balance Sheet (691) (30/06/26) Cash on Operating Cash Tax Capex Dividend Share Buyback Net Proceeds / Interest, FX Borrowings Reported Balance Sheet Payment Repayment of & Leases Net Debt (31/03/26) Borrowings and
Slide 23: 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). 3,952,656 shares purchased in 2025 share buyback cancelled through capital reduction post AGM Reported Debt, leverage netca
Slide 24: FY-26 guidance reconfirmed (non-IFRS)
FY-26 guidance reconfirmed (non-IFRS) • FY-26 guidance reconfirmed • Q3-26 guidance for non-IFRS subscription and SaaS growth of at least 30% • The acquisition of additiv is expected to be marginally accretive to Temenos’ FY-26 ARR and non-IFRS subscription and SaaS guidance, and is expected to be n
Slide 25: Reconfirming FY-28 targets (non-IFRS)
Reconfirming FY-28 targets (non-IFRS) • FY-28 targets reconfirmed. These targets are organic and non-IFRS and do not include any contribution from additiv • FY-25 proforma excludes contribution from Multifonds and is constant currency FY-28 targets (USD) FY-25 proforma (USD, c.c.) Implied CAGR ARR >
Slide 26: Agenda
Agenda CEO update Operational and financial update Appendix 26 Copyright © 2026 Temenos 2626
Slide 27: Like-for-like proforma revenue and costs
Like-for-like proforma revenue and costs • Q2-26 LFL non-IFRS revenue up 1% • Q2-26 LFL non-IFRS costs down 1% • Q2-26 LFL non-IFRS product revenue down 1% • Q2-26 LFL non-IFRS product costs down 1% USDm USDm 300 +1% 180 -1% 15% 160 250 (3%) 140 200 120 100 150 (1%) 80 (1%) 100 60 40 50 20 0 0 Q2-25
Slide 28: Non-IFRS growth rates excluding contribution from BNPL customer in prior quarter
Non-IFRS growth rates excluding contribution from BNPL customer in prior quarter +15% -9% +2% Q2-25 Q2-26 Q2-25 Q2-26 H1-25 H1-26 ARR Subscription & SaaS +7% +14% +11% +16% Q2-25 Q2-26 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 non-IFRS EBIT non-IFRS EPS Copyright © 2026 Temenos 28
Slide 29: 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 0.80 The Company has also assumed the following for FY-26 guidance: •
Slide 30: 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 31: 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 Q2-26 ARR 683.5 703.7 721.4 749.5 741.4 790.6 811.0 859.9 860.7 880.6 FCF, USD m Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 FCF 43.5 60.6 22.5 96.6 48.8 65.3 29.3 113.0 59.5 74.2 Copyrigh
Slide 32: Subscription and SaaS revenue breakdown by geography
Subscription and SaaS revenue breakdown by geography Q2-26 27% 33% APAC Europe MEA Americas 23% 17% Copyright © 2026 Temenos 32
Slide 33: DSOs
DSOs 180 164 164 168 160 160 160 152 153 151 152 146 147 140 136 133 134 120 100 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 Q2-26 Proforma Proforma Proforma Proforma Proforma Proforma DSOs at 168 at Q2-26 Note: Proforma view excludes Multifonds revenu
Slide 34: Balance sheet – leverage
Balance sheet – leverage Leverage ratios 2.0x 1.8x 1.5x 1.4x 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 Q2-26 Note: Includes Multifonds EBITDA Copyright © 2026 Temenos 34
Slide 35: 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) (13.4) Amortisati
Slide 36: 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 37: 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 38: Earnings Reconciliation – IFRS to non-IFRS (reported)
Earnings Reconciliation – IFRS to non-IFRS (reported) 3 Months Ending 30 Jun 3 Months Ending 30 Jun In USDm, except EPS 2026 2026 2025 2025 IFRS Non-IFRS adj. Non-IFRS IFRS Non-IFRS adj. Non-IFRS Subscription and SaaS 109.0 - 109.0 127.0 - 127.0 Maintenance 134.4 - 134.4 125.2 - 125.2 Services 38.1
Slide 39: Net earnings reconciliation IFRS to non-IFRS
Net earnings reconciliation IFRS to non-IFRS In USDm, except EPS Q2-26 Q2-25 IFRS net earnings 67.2 164.7 Share-based payments 10.9 10.3 Amortisation of acquired intangibles 9.5 10.7 Restructuring / M&A related costs 5.2 16.3 Fair value change on financial instruments 0.0 9.3 Taxation (4.7) 15.1 Gai
Slide 40: Reported ARR and non-IFRS income statement – operating
Reported ARR and non-IFRS income statement – operating Reported Q2-26 Q2-25 Y-o-Y Y-o-Y c.c. ARR (USDm) reported ARR 880.6 790.6 11% 11% Q2-26 Q2-25 Y-o-Y Y-o-Y c.c. Income statement (USDm) reported Subscription and SaaS 109.0 127.0 (14%) (15%) Maintenance 134.4 125.2 7% 7% Services 38.1 33.3 14% 13
Slide 41: Non-IFRS income statement reported – non-operating
Non-IFRS income statement reported – non-operating Reported Q2-26 Q2-25 Y-o-Y In USDm, except EPS reported EBIT 116.1 115.7 0% Net finance charge (4.4) (2.7) 62% FX gain / (loss) 0.4 (1.2) (130%) Tax (24.0) (21.8) 10% Net profit 88.1 90.0 (2%) EPS (USD) 1.31 1.27 3% Note: Figures are non-IFRS. Profo
Slide 42: 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. Non-IFRS adjustments Constant currencies Share-based payment charges Prior year results adjusted for currency movement
Slide 43: Thank you
Thank you temenos.com Copyright © 2026 Temenos 43