Temenos AG (0QOA) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Temenos Q1 2025 Results Conference Call and Live Webcast. I'm Sandra, the course call operator. I would like to remind you that all participants have been listened only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcasting. At this time, it's my pleasure to hand over to Jean-Pierre Brulard, CEO. Please go ahead, sir. Thank you, operator, and good evening and good afternoon. Thank you all for joining us for our Q1 25 results call. I would like to talk through our key performance and operation highlight for the quarter before handing over to Takis. So starting with an overview of the quarter, the sales environment was stable. until the last two weeks of the quarter, when we are starting to see a number of deals being pushing out because of the macro uncertainty. We have not lost these deals and currently expect them to sign in Q2. Indeed, several have already signed in the first three weeks of April. The underlying business performance was quite strong, with IT in growth in software licensing, mainly for subscriptions. This largely compensated for the impact of downsell for large customer running by no pay later, BNPL, on our SaaS platform. And it's important to note that we have anticipated that when we announced our guidance in February. And let me add as well that BNPL customer was one of customers and non-core business as well. Aside from this, we delivered solid AR and maintenance growth, which gave us visibility on future recurring revenue and free cash flow. We continued making tar...