Slide 1: Fiscal Q2 2022 Earnings Presentation
Exhibit 99.2 Fiscal Q2 2022 Earnings Presentation May 11, 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 IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2022 22 – – P Pr rop opr riie et ta ar ry y & & Con Conf fii
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 Q&A 3 Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Infor
Slide 5: Strategy and business performance update
President & Chief Executive Officer Strategy and business performance update IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2022 22 – – P Pr rop opr riie et ta ar ry y & & Con Conf fiid de en nt tiia all IIn nf for orm ma at tiion on of of A Am
Slide 6: Thank you for an exceptional first half
Thank you for an exceptional first half A huge thank you to our thousands of employees worldwide. Following a great Q1, our second quarter was also very strong, and I couldn’t be more pleased with our operational and financial execution for the fiscal year to date Credit for strong performance and i
Slide 7: Q2 Operational Highlights
Q2 Operational Highlights Very strong second quarter and FY22 first half Business Activity Commitment to Execution & Sales Momentum Innovation Record number of customer milestones Continued to accelerate Particularly high activity in North America deliveries R&D investment in Q2, underscoring our Un
Slide 8: Strong performance in Q2-FY2022
Strong performance in Q2-FY2022 2 Revenue 12-month backlog Non-GAAP EPS Record $1.15B, Record accelerated growth $1.54 (1) of $3.89B of 10% YoY At higher end of the $1,110- Above $1.22-$1.28 guidance ~ +10% YoY $1,150 guidance range range mainly due to a lower +$60m QoQ Driven primarily by North tha
Slide 9: War in Ukraine
War in Fully compliant with the applicable sanctions and export controls Stopped all new sales of our products and services in Russia Immaterial Amdocs exposure to Russia and Ukraine Ensuring the wellbeing of the employees and contractors we have in the region, and to support those who wanted to lea
Slide 10: Progress in Strategic Domains
Progress in Strategic Domains Helping service providers deliver seamless experiences to their consumers and enterprise customers, enabled by the innovation we bring across key domains: wins business value CLOUD MANAGED SERVICES Cloud platforms and services, which accelerate Enrich BSS platform with
Slide 11: Progress in Strategic Domains (cont'd)
Progress in Strategic Domains (cont’d) Helping service providers deliver seamless experiences to their consumers and enterprise customers, enabled by the innovation we bring across key domains: wins business value NETWORK AUTOMATION INVENTORY Improve time-to-market with innovative MODERNIZATION new
Slide 12: Looking ahead: Tracking at the high end of guidance in FY2022
Looking ahead: Tracking at the high end of guidance in FY2022 Amdocs is well positioned to A (1)(2) Reiterating monetize a large and expanding 6.0%-10.0% FY2022-2024 pipeline of opportunity: Annual three-year revenue growth revenue target (Guidance does not depend on a growth outlook material level
Slide 13: Financial Update & Outlook
Chief Financial Officer & Chief Operating Officer Financial Update & Outlook IIn nf for orm ma at tiion on Se Sec cu ur riit ty y L Le evel vel 0 0 – – P Pu ub blliic c. . © © 20 2022 22 – – P Pr rop opr riie et ta ar ry y & & Con Conf fiid de en nt tiia all IIn nf for orm ma at tiion on of of A Am
Slide 14: Q2 2022 Results
Q2 2022 Results Q2 2022 Revenue vs. Guidance $ Millions Q2 Revenue $1,145 million (2) +10.1% YoY $1,145 $1,130 High-end of guidance ($1,110M - $1,150M) (3) Q2 Non-GAAP Operating Margin Original Q2F22 Q2F22A Record revenue in Q2 2022 Guidance (midpoint) 17.6%, +10 bps QoQ rd 3 straight quarter of +10
Slide 15: 12-Month Backlog
12-Month Backlog Record Quarterly 12-Month Backlog in Q2F22 12-month backlog growth has accelerated $ Billions $3.89 year-over-year over the past several quarters $3.83 Record-high level as of $3.69 March 31, 2022 ~ +10% (1) (1) $3.59 YoY $3.54 ~ +10% YoY, +$60M QoQ (1) $3.49 (1) Q1F21 Q2F21 Q3F21 Q
Slide 16: Record-High Managed Services Revenue in Q2F22
Record-High Managed Services Revenue in Q2F22 $ Millions Managed services Managed Services arrangements support $663 $635 business model resiliency with highly ~ +5% recurring revenue YoY streams, multi-year engagements and Record-high level as of high renewal rates, Q2F21 Q2F22 and may also include
Slide 17: Q2 2022 Free cash flow bridge
(2) DSO’s Q2 2022 Free cash flow bridge Reported FCF vs. Normalized FCF, $ Millions 81 days +2 days YoY and +2 days QoQ DSO’s may fluctuate from quarter to quarter $169 $47 $160 $30 $8 $122 Deferred revenue > unbilled Improved by $48 million Deferred revenue: +$17M QoQ Unbilled receivables: -$31M Qo
Slide 18: Q2 2022 Cash Returned to Shareholders
(1) Q2 2022 Cash Returned to Shareholders FY2022E Normalized FCF outlook $ Millions $ Millions Dividends, $44 $131 $19 $650 $500 Share repurchases, $130 As of March 31, roughly $0.7B of share Reported Israel Other Normalized Reiterating normalized free cash FCF campus FCF repurchase authorization ca
Slide 19: Revenue Growth
Revenue Growth (4) YoY% Growth Constant Currency (1) (4) FY21 and FY22E revenue is pro forma constant currency 10.0% Tracking at 7.0% high end of 8.0% pro forma guidance 4.1% 2.4% 2.3% Tracking in line with high end of (1) (1)(4) (1)(4) pro forma outlooks for revenue FY2018 FY2019 FY2020 FY2021 FY20
Slide 20: Q&A
Q&A Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 20 20
Slide 21: Let's make it amazing
Let's . make it amazing ©: amdocs
Slide 22: Q3 Fiscal 2022 Outlook
Q3 Fiscal 2022 Outlook $1,140 - $1,180 million Revenue GAAP EPS $0.97 - $1.05 (2) Non-GAAP EPS $1.23 - $1.29 Share Count 124 million Above high-end of annual Effective Tax Rate (2) Non-GAAP Tracking at high-end of target range of 13%-17% (1) pro forma outlooks for (3) Full Year Fiscal 2022 Outlook U
Slide 23: Appendix Reconciliation Tables
Appendix Reconciliation Tables Information Security Level 0 – Public. © 2022 – Proprietary & Confidential Information of Amdocs 23 23
Slide 24: Selected Financial Metrics
AMDOCS LIMITED Selected Financial Metrics (In thousands, except per share data) Three months ended Six months ended March 31, March 31, (a) 2022 2021 2022 2021 Revenue $ 1,145,271 $ 1,048,734 $ 2,249,903 $ 2,135,077 Non-GAAP operating income 201,625 184,883 395,232 372,864 Non-GAAP net income 190,94
Slide 25: Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (three months)
AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Three months ended March 31, 2022 Reconciliation items GAAP Amortization Equity based Changes in Non-GAAP Other Tax of purchased compensation certain effect intangible expense acquisitions assets and rel
Slide 26: Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (six months)
AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Six months ended March 31, 2022 Reconciliation items GAAP Amortization Equity based Changes in certain Non-GAAP Gain from Other Tax of compensation acquisitions related sale of a effect purchased expense