Business
Amdocs Limited Reports Fourth Quarter Results for Fiscal 2025
Fiscal 2025 Revenue of $4.53 Billion, down 9.4% YoY as Reported and up 3.1% YoYin Pro Forma(1) Constant Currency(2)Successfully Achieved Accelerated
About this update from Amdocs Limited
Fiscal 2025 Revenue of $4.53 Billion , down 9.4% YoY as Reported and up 3.1% YoYin Pro Forma(1) Constant Currency(2) Successfully Achieved Accelerated Profitability Improvement Targets Strong Sales Momentum & 12-Month Backlog of $4.19 Billion , up 3.2% YoY Initiates Fiscal 2026 Outlook: Expects Fiscal 2026 Revenue Outlook of 1.7%-5.7% YoY as Reported and 1.0%-5.0% YoY in Constant Currency(2) Increasing GenAI Investment to Unlock & Accelerate New Growth Opportunities Board Approves 8% Increase of Quarterly Cash Dividend(4) Full Year Fiscal 2025 Highlights (All comparisons are against the prior year) Revenue of $4,533 million , down 9.4% as reported due to the phase out of certain business activities, and up 3.1% in pro forma(1) constant currency(2) Record managed services revenue of $2,996 million , equivalent to approximately 66% of total revenue GAAP diluted EPS of $5.05 , up 18.8% including a restructuring charge of 65 cents per share, without which GAAP diluted EPS would have been above the guidance range of 31.5%-33.5% Non-GAAP diluted EPS of $6.99 , up 8.5% and at the midpoint of the 8.0%-9.0% guidance range Free cash flow(5) of $645 million , comprised of cash flow from operations of $749 million , less $104 million in net capital expenditures and other; excluding $90 million of restructuring payments which were not included in the full year free cash flow(5) guidance of $710 million to $730 million , free cash flow would have been $735 million Repurchased $551 million of ordinary shares during the fiscal year Twelve-month backlog of $4.19 billion up 3.2% as compared to last year's fourth fiscal quarter, and up approximately $40 million sequentially Fourth Quarter Fiscal 2025 Highlights (All comparisons are against the prior year) Revenue of $1,150 million , down 9.0% as reported due to the phase out of certain business activities, and up 2.8% in pro forma(1) constant currency(2); revenue was above the midpoint of the $1,125-$1,165 million guidance range with no impact from foreign currency movements compared to our guidance assumptions Managed services revenue of $748 million , equivalent to approximately 65% of total revenue and up 3.7% as compared to last year's fourth quarter GAAP diluted EPS of $0.88 , including a restructuring charge of 60 cents per share, without which GAAP diluted EPS would have been at the high-end of the $1.41-$1.49 guidance range Non-GAAP diluted EPS of $1.83 , slightly above the midpoint of the guidance range of $1.79-$1.85 GAAP operating income of $133 million ; including a restructuring charge of $74 million ; GAAP operating margin of 11.5%, up 260 basis points as compared to last year's fourth fiscal quarter, reflecting the phase out of certain non-core business activities, and a continued focus on operational excellence; GAAP operating margin was down 620 basis points sequentially, Non-GAAP operating income of $248 million ; non-GAAP operating margin of 21.6%, up 290 basis points as compared to last year's fourth fiscal quarter, reflecting the phase out of certain non-core business activities and a continued focus on operational excellence, and up 20 basis points sequentially The Board of Directors (the "Board") approved an 8% increase in the Company's quarterly cash dividend payment from $0.527 per share to $0.569 per share, anticipated to be first paid in April 2026 , subject to shareholder approval at the January 2026 annual meeting (1) For comparison purposes, pro forma adjusts fourth quarter fiscal year 2024 revenue by approximately $150 million and the full fiscal 2024 revenue by approximately $600 million to reflect the end of certain low margin, non-core business activities; these activities substantially already ceased in the first quarter fiscal 2025 and are not included in the full year fiscal 2025 revenue outlook(2) Revenue on a constant currency basis assumes exchange rates in the current period were unchanged from the prior period(3) Expected total shareholder return assumes midpoint of fiscal year 2026 non-GAAP EPS growth outlook, plus dividend yield(4) Subject to shareholder approval at January 2026 annual meeting(5) Please refer to the Selected Financial Metrics tables below (figures may not sum because of rounding) JERSEY CITY, NJ / ACCESS Newswire / November 11, 2025 / Amdocs Limited (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today reported operating results for the three months ended September 30, 2025 . "Fiscal 2025 was another important year as we delivered financial results consistent with our expectations while serving our global telecommunications customers with cutting-edge cloud, digital and AI-driven solutions designed to meet their strategic imperatives. Cloud-related activities delivered double-digit growth, reaching over 30% of total revenue, and we achieved significantly better profitability while maintaining our commitment to R&D. The year finished with very strong sales momentum. We secured Google Cloud migration awards at TELUS in Canada and Lumen Technologies in US and signed a digital transformation and IT operations agreement with Fidium, a new fiber customer in the US. Our international footprint expanded with modernization awards at British Telecom , or BT-EE in the UK , Altice SFR in France , Telia in Finland , PLDT in Philippines and Claro Brazil. Additionally, Telefónica Germany chose Amdocs to implement new GenAI use cases using the amAIz Sales Agent. This latest win extends our momentum following recent GenAI-related deals with Altice Optimum, e& UAE , and Consumer Cellular, and further demonstrates Amdocs' pivotal role in accelerating generative AI adoption in the telecom industry," said Shuky Sheffer , president and chief executive officer of Amdocs Management Limited . "Profitability improved significantly in fiscal 2025, reflecting the phase-out of certain low-margin, non-core business activities a year ago, and internal efficiency gains driven by automation, AI and a focus on operational excellence. Managed services as a share of overall revenue reached a record high 66% this year, further strengthening our business resilience as we maintained high renewal rates and expanded our customer activities under long-term agreements. Notably, Amdocs announced today a multi-year strategic expansion of our long-standing managed services engagement with PLDT. This landmark agreement will focus on modernizing PLDT's IT operations and streamlining business processes through AI and generative AI capabilities to empower next-generation customer experiences," said Tamar Rapaport-Dagim , chief financial officer & chief operating officer of Amdocs Management Limited . Sheffer concluded, "With our unique tech-led and outcomes-based accountability model, Amdocs is strongly positioned to monetize a rich pipeline of opportunities across cloud, digital, network, and generative AI. That said, we are closely watching for any impacts of the uncertain global macroeconomic environment on us and our customers' demand and spending behavior. As generative AI technology matures, we believe there is now the potential to unlock even greater opportunities to enhance telco customer experience, agility, and efficiency. To fully capture this potential, we are accelerating our generative AI investments to open new pathways for future growth across our entire customer base. Overall, we expect revenue growth in the range of 1.7% to 5.7% as reported and 1.0% to 5.0% in constant currency(2) in fiscal year 2026, positioning us to deliver high-single digit expected total shareholder returns(3) as we balance our strategic long-term investments with the benefits of ongoing cost and efficiency gains across the business." Revenue (All comparisons are against the prior year period) In millions Three months ended Twelve months ended September 30, 2025 September 30, 2025 Actual Previous Guidance Actual Previous Guidance Revenue $ 1,150 $ 1,125-$1,165 $ 4,533 - Revenue Growth, as reported (9.0 )% - (9.4 )% (10.0)%-(9.0)% Revenue Growth, Pro-forma(1) constant currency(2) 2.8 % - 3.1 % 2.4%-3.4% Revenue for the fourth fiscal quarter of 2025 was above the midpoint of Amdocs' guidance Revenue for the fourth fiscal quarter includes a positive impact from foreign currency movements of approximately $5 million relative to the fourth quarter of fiscal 2024 and a positive impact from foreign currency movements of approximately $3 million relative to the third quarter of fiscal 2025 Revenue for the full year fiscal 2025 includes an unfavorable impact from foreign currency movements of approximately 0.2% year-over-year Net Income and Earnings Per Share ` In thousands, expect per share data Three months ended Twelve months ended September 30 , September 30 , 2025 2024 2025 2024 GAAP Measures Net Income $ 97,114 $ 87,176 $ 567,769 $ 496,321 Net Income attributable to Amdocs Limited $ 96,327 $ 86,441 $ 564,704 $ 493,197 Diluted earnings per share $ 0.88 $ 0.76 $ 5.05 $ 4.25 Non-GAAP Measures Non-GAAP Net Income $ 202,203 $ 195,668 $ 784,267 $ 750,928 Non-GAAP Net Income attributable to Amdocs Limited $ 201,416 $ 194,933 $ 781,202 $ 747,804 Non-GAAP Diluted earnings per share $ 1.83 $ 1.70 $ 6.99 $ 6.44 Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition related liabilities measured at fair value, equity-based compensation expenses, restructuring charges, and other, net of related tax effects. For further details of the reconciliation of selected financial metrics from GAAP to Non-GAAP, please refer to the tables below. Capital Allocation Quarterly Cash Dividend Program: On November 11, 2025 , the Board approved the Company's next quarterly cash dividend payment of $0.527 per share, and set December 31, 2025 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on January 30, 2026 The Board also approved an 8% increase in the Company's quarterly cash dividend payment to $0.569 per share, which is anticipated to be first paid in April 2026 , provided that the increase is approved by shareholders at the January 2026 annual general meeting of shareholders Share Repurchase Activity: Repurchased $136 million of ordinary shares during the fourth quarter of fiscal 2025 Twelve-month Backlog Twelve-month backlog was $4.19 billion at the end of the fourth quarter of fiscal 2025, up approximately 3.2% as compared to last year's fourth fiscal quarter. Twelve-month backlog includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities. First Quarter Fiscal 2026 Outlook In millions, except per share data Q1 - 2026 Revenue $ 1,135-$1,175 GAAP Diluted earnings per share $ 1.36-$1.44 Non-GAAP Diluted earnings per share $ 1.73-$1.79 First quarter revenue guidance assumes a negative $1 million sequential impact from foreign currency fluctuations as compared to the fourth quarter of fiscal 2025 First quarter non-GAAP diluted EPS guidance excludes primarily equity-based compensation expense of approximately $0.21-$0.23 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.11 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects GAAP diluted EPS guidance does not include the impact of future restructuring charges Full Year Fiscal 2026 Outlook FY 2026, year-over-year growth Guidance Revenue growth, as reported 1.7%-5.7% Revenue growth, constant currency(2) 1.0%-5.0% GAAP diluted EPS growth 13.5%-20.5% Non-GAAP diluted EPS growth 4.0%-8.0% FY 2026, in millions Guidance Free cash flow(5) $ 710-$730 Full year fiscal 2026 revenue guidance incorporates an expected positive impact from foreign currency fluctuations of approximately 0.7% year-over-year and includes some inorganic contribution Non-GAAP diluted earnings per share growth excludes primarily equity-based compensation expense of approximately $0.90-$0.98 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.41 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects GAAP diluted EPS guidance does not include the impact of future restructuring charges Non-GAAP operating margin is anticipated to be within a range of 21.3% to 21.9% for the full year fiscal 2026 Non-GAAP operating margin is comprised of GAAP operating margin, excluding amortization of purchased intangible assets and other, equity-based compensation expense, restructuring charges, and changes in certain acquisitions related liabilities measured at fair value Non-GAAP effective tax rate is anticipated to be within a range of 16% to 19% for the full year fiscal 2026 Full year fiscal 2026 free cash flow(5) of $710 million to $730 million ; free cash flow(5) is comprised of cash flow from operations, less net capital expenditures, and excludes payments related to restructuring charges The forward-looking statements regarding our first fiscal quarter 2026 and full year fiscal 2026 guidance take into consideration the Company's current expectations regarding macro and industry specific risks and various uncertainties and certain assumptions that we will discuss on our earnings conference call. However, we note that market dynamics continue to shift rapidly and we cannot predict all possible outcomes, including those resulting from certain geopolitical events, the current inflationary environment, changes to trade policies including tariffs and trade restrictions and the resulting impact on economic activities (as our outlook assumes current economic conditions do not deteriorate significantly due to trade policy or other macro factors), global or regional events, and the prevailing level of macro-economic, business and operational uncertainty, which have created, and continue to create, a significant amount of uncertainty, or from current and potential customer consolidation or their other strategic corporate activities. Conference Call and Earnings Webcast Presentation Details Amdocs will host a conference call and earnings webcast presentation on November 11, 2025 at 5:00 p.m. Eastern Time to discuss the Company's fourth quarter of fiscal 2025 results. To participate in the call, please register here to receive the dial-in numbers and unique access PIN. The conference call and webcast will also be carried live on the Internet and may be accessed via the Amdocs website at https://investors.amdocs.com . Presentation slides will be available shortly before the webcast. Non-GAAP Financial Measures This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow(5), revenue on a constant currency(2) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth. These other non-GAAP measures exclude the following items: amortization of purchased intangible assets and other acquisition-related costs; changes in certain acquisition-related liabilities measured at fair value; restructuring and unusual charges or benefits; equity-based compensation expense; other; and tax effects related to the above. Free cash flow(5) equals cash generated by operating activities less net capital expenditures. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures. Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow(5), revenue on a constant currency(2) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business. For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition-related liabilities measured at fair value, restructuring and unusual charges or benefits, equity-based compensation expense, other and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs . In addition, Amdocs believes that significant groups of investors exclude these items in reviewing its results and those of its competitors, because the amounts of the items between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the items. Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of revenue, research and development, selling, general and administrative, operating income, interest and other expenses, net, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments. Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below. Supporting Resources Keep up with Amdocs news by visiting the Company's website Subscribe to Amdocs' RSS Feed and follow us on Twitter , Facebook , LinkedIn and YouTube About Amdocs Amdocs empowers the world's leading communications and media companies to accelerate innovation and deliver exceptional customer experiences at scale. Our comprehensive portfolio of software products and services enable service providers to harness the transformative power of artificial intelligence, driving digital modernization, cloud adoption, intelligent network automation, and new revenue opportunities. With our talented people across the globe, we partner with our customers to turn advanced technology into measurable business outcomes, enriching lives and advancing a more connected society. Together, we help those who shape the future to make it amazing. Listed on the NASDAQ Global Select Market, Amdocs reported revenue of $4.53 billion in fiscal 2025. This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2024 , filed on December 17, 2024 , and our Form 6-K furnished for the first quarter of fiscal 2025 on February 18, 2025 , for the second quarter of fiscal 2025 on May 19, 2025 , and for the third quarter of fiscal 2025 on August 18, 2025 . Contact : Matthew Smith Head of Investor Relations Amdocs 314-212-8328E-mail: [email protected] AMDOCS LIMITED Consolidated Statements of Income (In thousands, except per share data) Three months ended September 30 , Fiscal year ended September 30 , 2025 (a) 2024 2025 (a) 2024 Revenue $ 1,150,218 $ 1,263,882 $ 4,532,913 $ 5,004,989 Operating expenses: Cost of revenue 719,878 824,888 2,811,333 3,249,598 Research and development 87,865 90,069 340,845 360,798 Selling, general and administrative 121,807 138,705 506,108 572,845 Amortization of purchased intangible assets and other 14,287 14,333 62,424 62,052 Restructuring charges 73,756 83,213 80,539 131,088 1,017,593 1,151,208 3,801,249 4,376,381 Operating income 132,625 112,674 731,664 628,608 Interest and other expense, net (11,843 ) (9,237 ) (38,422 ) (37,537 ) Income before income taxes 120,782 103,437 693,242 591,071 Income taxes 23,668 16,261 125,473 94,750 Net income $ 97,114 $ 87,176 $ 567,769 $ 496,321 Net income attributable to noncontrolling interests 787 735 3,065 3,124 Net income attributable to Amdocs Limited $ 96,327 $ 86,441 $ 564,704 $ 493,197 Basic earnings per share attributable to Amdocs Limited $ 0.88 $ 0.76 $ 5.08 $ 4.27 Diluted earnings per share attributable to Amdocs Limited $ 0.88 $ 0.76 $ 5.05 $ 4.25 Basic weighted average number of shares outstanding 109,279 113,745 111,147 115,489 Diluted weighted average number of shares outstanding 109,853 114,378 111,746 116,145 Cash dividends declared per share $ 0.527 $ 0.479 $ 2.060 $ 1.872 AMDOCS LIMITED Selected Financial Metrics (In thousands, except per share data) Three months ended September 30 , Fiscal year ended September 30 , 2025(a) 2024 2025(a) 2024 Revenue $ 1,150,218 $ 1,263,882 $ 4,532,913 $ 5,004,989 Non-GAAP operating income 248,118 236,223 968,330 923,288 Non-GAAP net income 202,203 195,668 784,267 750,928 Non-GAAP net income attributable to Amdocs Limited 201,416 194,933 781,202 747,804 Non-GAAP diluted earnings per share $ 1.83 $ 1.70 $ 6.99 $ 6.44 Diluted weighted average number of shares outstanding 109,853 114,378 111,746 116,145 Free Cash Flows (In thousands) Three months ended September 30 , Fiscal year ended September 30 , 2025 2024 2025 2024 Net Cash Provided by Operating Activities $ 229,840 $ 217,922 $ 749,096 $ 724,428 Purchases of property and equipment, net (b) (31,212 ) (25,812 ) (103,952 ) (105,495 ) Free Cash Flow $ 198,628 $ 192,110 $ 645,144 $ 618,933 (a) During the three months ended December 31, 2024 , we phased out several low-margin, non-core business activities, which were included in the prior periods numbers.(b) The amounts under "Purchase of property and equipment, net", include immaterial proceeds from sale of property and equipment for all periods presented. AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Three Months Ended September 30, 2025 (a) GAAP Amortization of purchased intangible assets and other Equity based compensation expense Changes in certain acquisitions related liabilities measured at fair value Restructuring charges Other Tax effect Non-GAAP Operating expenses: Cost of revenue $ 719,878 $ - $ (13,062 ) $ (360 ) $ - $ - $ - $ 706,456 Research and development 87,865 (2,600 ) 85,265 Selling, general and administrative 121,807 (11,068 ) (360 ) 110,379 Amortization of purchased intangible assets and other 14,287 (14,287 ) - Restructuring charges 73,756 (73,756 ) - Total operating expenses 1,017,593 (14,287 ) (26,730 ) (720 ) (73,756 ) - - 902,100 Operating income 132,625 14,287 26,730 720 73,756 248,118 Interest and other expense, net (11,843 ) 1,545 (10,298 ) Income taxes 23,668 11,949 35,617 Net income 97,114 14,287 26,730 720 73,756 1,545 (11,949 ) 202,203 Net income attributable to noncontrolling interests 787 787 Net income attributable to Amdocs Limited $ 96,327 $ 14,287 $ 26,730 $ 720 $ 73,756 $ 1,545 $ (11,949 ) $ 201,416 Three Months Ended September 30, 2024 GAAP Amortization of purchased intangible assets and other Equity based compensation expense Restructuring charges Other Tax effect Non-GAAP Operating expenses: Cost of revenue $ 824,888 $ - $ (13,283 ) $ - $ - $ - $ 811,605 Research and development 90,069 (2,355 ) 87,714 Selling, general and administrative 138,705 (10,365 ) 128,340 Amortization of purchased intangible assets and other 14,333 (14,333 ) - Restructuring charges 83,213 (83,213 ) - Total operating expenses 1,151,208 (14,333 ) (26,003 ) (83,213 ) 1,027,659 Operating income 112,674 14,333 26,003 83,213 236,223 Interest and other expense, net (9,237 ) 2,549 (6,688 ) Income taxes 16,261 17,606 33,867 Net income 87,176 14,333 26,003 83,213 2,549 (17,606 ) 195,668 Net income attributable to noncontrolling interests 735 735 Net income attributable to Amdocs Limited $ 86,441 $ 14,333 $ 26,003 $ 83,213 $ 2,549 $ (17,606 ) $ 194,933 AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (In thousands) Fiscal year ended September 30,2025 (a) GAAP Amortization of purchased intangible assets and other Equity based compensation expense Changes in certain acquisitions related liabilities measured at fair value Restructuring charges Other Tax effect Non-GAAP Operating expenses: Cost of revenue $ 2,811,333 $ - $ (51,320 ) $ (1,081 ) $ - $ - $ - $ 2,758,932 Research and development 340,845 (9,603 ) 331,242 Selling, general and administrative 506,108 (43,941 ) 12,242 474,409 Amortization of purchased intangible assets and other 62,424 (62,424 ) - Restructuring charges 80,539 (80,539 ) - Total operating expenses 3,801,249 (62,424 ) (104,864 ) 11,161 (80,539 ) 3,564,583 Operating income 731,664 62,424 104,864 (11,161 ) 80,539 968,330 Interest and other expense, net (38,422 ) 7,524 (30,898 ) Income taxes 125,473 27,692 153,165 Net income 567,769 62,424 104,864 (11,161 ) 80,539 7,524 (27,692 ) 784,267 Net income attributable to noncontrolling interests 3,065 3,065 Net income attributable to Amdocs Limited $ 564,704 $ 62,424 $ 104,864 $ (11,161 ) $ 80,539 $ 7,524 $ (27,692 ) $ 781,202 Fiscal year ended September 30,2024 GAAP Amortization of purchased intangible assets and other Equity based compensation expense Changes in certain acquisitions related liabilities measured at fair value Restructuring charges Other Tax effect Non-GAAP Operating expenses: Cost of revenue $ 3,249,598 $ - $ (53,409 ) $ 3,000 $ - $ - $ - $ 3,199,189 Research and development 360,798 (8,644 ) 352,154 Selling, general and administrative 572,845 (42,487 ) 530,358 Amortization of purchased intangible assets and other 62,052 (62,052 ) - Restructuring charges 131,088 (131,088 ) - Total operating expenses 4,376,381 (62,052 ) (104,540 ) 3,000 (131,088 ) 4,081,701 Operating income 628,608 62,052 104,540 (3,000 ) 131,088 923,288 Interest and other expense, net (37,537 ) 8,087 (29,450 ) Income taxes 94,750 48,160 142,910 Net income 496,321 62,052 104,540 (3,000 ) 131,088 8,087 (48,160 ) 750,928 Net income attributable to noncontrolling interests 3,124 3,124 Net income attributable to Amdocs Limited $ 493,197 $ 62,052 $ 104,540 $ (3,000 ) $ 131,088 $ 8,087 $ (48,160 ) $ 747,804 AMDOCS LIMITED Condensed Consolidated Balance Sheets (In thousands) As of September 30 , 2025 September 30 , 2024 ASSETS Current assets: Cash and cash equivalents $ 324,999 $ 346,085 Short-term interest-bearing investments - 168,242 Accounts receivable, net, including unbilled 935,751 1,028,357 Prepaid expenses and other current assets 331,387 228,498 Total current assets 1,592,137 1,771,182 Property and equipment, net 768,557 755,601 Lease assets 182,088 149,254 Goodwill and other intangible assets, net 3,046,962 3,005,637 Other noncurrent assets 660,086 704,468 Total assets $ 6,249,830 $ 6,386,142 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable, accruals and other $ 1,201,206 $ 1,315,679 Lease liabilities 38,725 39,983 Deferred revenue 118,861 115,247 Total current liabilities 1,358,792 1,470,909 Lease liabilities 140,776 103,462 Long-term debt, net of unamortized debt issuance costs 646,901 646,291 Other noncurrent liabilities 632,681 666,303 Total Amdocs Limited Shareholders' equity 3,429,453 3,456,976 Noncontrolling interests 41,227 42,201 Total equity 3,470,680 3,499,177 Total liabilities and equity $ 6,249,830 $ 6,386,142 AMDOCS LIMITED Consolidated Statements of Cash Flows (In thousands) 2025 2024 Cash Flow from Operating Activities: Net income $ 567,769 $ 496,321 Reconciliation of net income to net cash provided by operating activities: Depreciation, amortization and impairment 195,435 195,234 Amortization of debt issuance cost 608 596 Equity-based compensation expense 104,864 104,540 Deferred income taxes 20,291 (45,673 ) Loss from short-term interest-bearing investments 3,487 5,576 Net changes in operating assets and liabilities, net of amounts acquired: Accounts receivable, net 79,606 (104,413 ) Prepaid expenses and other current assets (55,061 ) (8,478 ) Other noncurrent assets (15,445 ) (2,250 ) Lease assets and liabilities, net 3,221 (6,485 ) Accounts payable, accrued expenses and accrued personnel (77,041 ) 216,324 Deferred revenue 8,172 (60,332 ) Income taxes payable, net (15,109 ) (47,241 ) Other noncurrent liabilities (71,701 ) (19,291 ) Net cash provided by operating activities 749,096 724,428 Cash Flow from Investing Activities: Purchase of property and equipment, net(b) (103,952 ) (105,495 ) Proceeds from sale of short-term interest-bearing investments 169,993 68,659 Purchase of short-term interest-bearing investments - (9,061 ) Net cash paid for business and intangible assets acquisitions (86,317 ) (86,824 ) Net cash from equity investments and other 18,215 5,315 Net cash used in investing activities (2,061 ) (127,406 ) Cash Flow from Financing Activities: Repurchase of shares (551,340 ) (563,121 ) Proceeds from employee stock option exercises 21,294 26,949 Payments of dividends (224,394 ) (211,967 ) Distribution to noncontrolling interests (4,039 ) (4,096 ) Payment of contingent consideration and deferred payment of business acquisitions (9,642 ) (18,782 ) Net cash used in financing activities (768,121 ) (771,017 ) Net decrease in cash and cash equivalents (21,086 ) (173,995 ) Cash and cash equivalents at beginning of year 346,085 520,080 Cash and cash equivalents at end of year $ 324,999 $ 346,085 AMDOCS LIMITED Supplementary Information (In millions) Three months ended September 30 , June 30 , March 31 , December 31 , September 30 , 2025 (a) 2025 (a) 2025 (a) 2024 (a) 2024 North America $ 762.4 $ 745.4 $ 738.3 $ 737.4 $ 835.8 Europe 179.8 189.4 180.7 155.2 184.1 Rest of the World 208.0 209.6 209.2 217.4 244.0 Total Revenue $ 1,150.2 $ 1,144.4 $ 1,128.2 $ 1,110.1 $ 1,263.9 Three months ended September 30 , June 30 , March 31 , December 31 , September 30 , 2025 2025 2025 2025 2024 Managed Services Revenue $ 748.3 $ 771.5 $ 747.1 $ 728.9 $ 721.4 As of September 30 , June 30 , March 31 , December 31 , September 30 , 2025 2025 2025 2025 2024(c) 12-Month Backlog $ 4,190 $ 4,150 $ 4,170 $ 4,140 $ 4,060 (c) Excluding the phase out of certain business activities in the fourth fiscal quarter of 2024 only. SOURCE: Amdocs - IR View the original press release on ACCESS Newswire