Unisys Corporation New · NYSE:UIS
Unisys Corporation New — Unisys — Q3 2026 Earnings Presentation
25 slides from Unisys Corporation New's earnings presentation, Nov 4, 2026
Slide 1: Third Quarter Financial Results
Third Quarter Mike Thomson Chief Executive Officer & President Financial Results Deb McCann Chief Financial Officer NOVEMBER 4, 2026
Slide 2: Disclaimer
Disclaimer Forward -Looking Statements This presentation contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933, as amende d, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisy
Slide 3: 3Q26 Financial Highlights
3Q26 Financial Highlights Revenue Operating Profit & Free Cash Flow Raising revenue guidance to a decline of (3.0%) to (1.5%) in Reaffirming 2026 full -year non - GAAP operating profit margin constant currency (CC) or (0.4%) to 1.1% as reported. Prior guidance of 9.0% to 11.0% guidance was a revenue
Slide 4: The Unisys AI framework
The Unisys AI framework Develop Transform Orchestrate Develop the Apply AI to Orchestrate foundation for transform AI securely, enterprise AI operations responsibly, at scale AI Infrastructure Agentic Workflow AI Managed Assessment Deployment Services Data Environment Intelligent Service Security &
Slide 5: AI Technology Stack
AI Frontier Models LLMs Data & Infrastructure Cloud/GPU compute Technology Inference Private AI Model hosting Data governance Stack Simplifying a complex AI ecosystem for our clients Develop the foundational models, data and compute that power enterprise - grade AI. Transform operations with agents,
Slide 6: The Modern ClearPath Ecosystem
The Modern ClearPath ® Ecosystem Secure, scalable operating systems with the flexibility to enable enterprise AI workflows Deployment Options CPF Ecosystem Application Environment Today’s CPF runs seamlessly in AWS and Azure, a private Evolve and enhance applications with capabilities ranging cloud,
Slide 7: 3Q Revenue
3Q Revenue ($M) COMPANY DWS CA&I ECS +2.5% YoY +0.6% CC 1 YoY +2.6% YoY Up +3.9% as reported, or Down (0.1%) as reported, or Up +5.6% as reported, or +0.9% CC YoY up +1.7% in CC down (1.2%) in CC up +2.7% in CC $460 $ 472 $377 $ 387 $180 $180 $125 $130 $133 $141 2025 2026 2025 2026 2025 2026 2025 20
Slide 8: 3Q 2026 Revenue Profile
3Q 2026 Revenue Profile Highly diverse revenue streams with large base of recurring revenue Segments CA&I 38% ECS 30% DWS 28% All Other 4% 18% Geography US & Canada 40% ClearPath Solutions MIX EMEA 27% OF TOTAL COMPANY Asia Pacific 17% 82% REVENUE Latin America 16% TS&S Solutions Client Sector Finan
Slide 9: 3Q Gross Margin
3Q Gross Margin COMPANY DWS CA&I ECS +120 bps YoY (200) bps YoY (670) bps YoY +100 bps YoY +930 bps YoY 25.5% 26.7% 55.5% 46.2% 18.6% 16.6% 16.2% 19.6% 20.6% 9.5% 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 Total Company TS&S Total company margin expansion driven by a Margin contraction primar
Slide 10: 3Q Profitability and Free Cash Flow
3Q Profitability and Free Cash Flow ($M, except per share data) 3Q GAAP & Non -GAAP 1 3Q GAAP Net Income (Loss) 3Q GAAP & Non -GAAP 1 Diluted 3Q Operating Cash Flow Operating Profit (Loss) & Margins & Adj. EBITDA 1 and Margins Earnings Per Share & Free Cash Flow 1 7.2% 5.4% 5.0% 10.5% 12.7% $34 $48
Slide 11: 3Q EBITDA and Cash Flow Detail
3Q EBITDA and Cash Flow Detail $M 3Q26 3Q25 YTD26 YTD25 EBITDA 1 ($ 138.2) ($ 257.5) ($ 164.2) ($ 223.9) ADJUSTED EBITDA 1 $ 59.7 $ 48.2 $ 159.4 $ 149.8 ADJUSTED EBITDA MARGIN 1 12.7% 10.5% 11.5% 10.9% CASH (USED FOR) PROVIDED BY OPERATIONS ($ 35.8) $ 38.0 ($ 66.5) ($ 244.9) CAPITAL EXPENDITURES ($
Slide 12: Leverage Detail
Leverage Detail $M SEPTEMBER 30, 2026 1 SENIOR SECURED NOTES $ 698.4 FINANCE LEASES AND OTHER DEBT 43.9 TOTAL DEBT EXCLUDING PENSION DEFICIT $ 742.3 2 GLOBAL NET PENSION DEFICIT (AS OF DECEMBER 31, 2025) $448.5 TOTAL DEBT $ 1,190.8 CASH $264.2 NET LEVERAGE EXCLUDING PENSION DEFICIT $ 478.1 NET LEVER
Slide 13: Deleveraging as a core focus
Pension contributions expected to translate to ~$200M+ of deficit reduction 1 from 2025 to year -end 2029 Deleveraging as a core focus 1400 1200 1000 800 $M 600 Successful execution of 400 our strategy improves 200 0 our leverage position 2023 2024 2025 2026E 2027E 2028E 2029E Sr. Secured Notes & Ot
Slide 14: Revising Financial Guidance
(3.0 % ) to (1.5 % ) 9.0 % to 11.0 % Raising from (5.0%) to (3.5%) Non - GAAP Operating Constant Currency Profit Margin Revenue Growth Revising • Revenue growth guidance translates to reported revenue growth of (0.4%) to 1.1% based on exchange rates as of September 30, 2026 Financial • Assumes repor
Slide 15: Appendix
Appendix Uunisys
Slide 16: Potential Economic Benefit of Tax Assets
Potential Economic Benefit of Tax Assets (as of December 31, 2025) NET DEFERRED TAX FUTURE AVAILABLE REDUCTIONS $M DESCRIPTION 1 ASSETS IN TAXABLE INCOME U.S. NOLS AND TAX CREDITS: NET OPERATING LOSS – FEDERAL & STATE $ 583 $1,817 TAX CREDITS 71 340 PENSION AND OTHER: PENSION 83 331 OTHER DEFERRED T
Slide 17: TS&S and ClearPath Revenue and Gross Profit
Technology Solutions & Services (TS&S) and ClearPath Revenue and Gross Profit $M 3Q26 3Q25 YTD26 YTD25 CLEARPATH REVENUE $ 84.4 $ 83.0 $ 219.6 $ 241.7 TS&S REVENUE 387.1 377.2 1,163.0 1,133.9 REVENUE $ 471.5 $ 460.2 $ 1,382.6 $ 1,375.6 CLEARPATH GROSS PROFIT $ 61.7 $ 47.0 $ 141.0 $ 150.6 TS&S GROSS
Slide 18: Non-GAAP Operating Profit
Non - GAAP Operating Profit $M 3Q26 3Q25 YTD26 YTD25 GAAP OPERATING PROFIT (LOSS) $ 23.7 ($ 33.5) $ 7.0 $ 1.9 GOODWILL & INTANGIBLE ASSET IMPAIRMENT - 55.0 48.7 55.0 CERTAIN LEGAL MATTERS 1 1.9 0.7 3.3 1.3 COST REDUCTION AND OTHER EXPENSES 2 8.0 2.2 18.9 14.1 PENSION AND POSTRETIREMENT EXPENSE 1 0.4
Slide 19: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation $M 3Q26 3Q25 YTD26 YTD25 NET LOSS ATTRIBUTABLE TO UNISYS CORPORATION ($ 201.0) ($ 308.9) ($ 332.1) ($ 358.5) NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS 0.7 (0.3) (0.6) (1.3) INTEREST EXPENSE, NET OF INTEREST INCOME OF $2.7, $4.7, $12.0 AN D $16.0, RESPE
Slide 20: Non-GAAP Net Income
Non - GAAP Net Income $M EXCEPT SHARE AND PER SHARE DATA 3Q26 3Q25 YTD26 YTD25 NET LOSS ATTRIBUTABLE TO UNISYS CORPORATION ($ 201.0) ($ 308.9) ($ 332.1) ($ 358.5) PENSION AND POSTRETIREMENT EXPENSE PRETAX 183.4 242.9 244.3 286.8 TAX 1.2 0.7 3.6 1.9 NET OF TAX $ 182.2 $ 242.2 $ 240.7 $ 284.9 GOODWILL
Slide 21: Non-GAAP Diluted Earnings Per Share
Non - GAAP Diluted Earnings Per Share $M EXCEPT SHARE AND PER SHARE DATA 3Q26 3Q25 YTD26 YTD25 NON - GAAP NET (LOSS) INCOME ATTRIBUTABLE TO UNISYS CORPORATION ($ 8.5) ($ 5.9) ($ 24.0) $ 4.9 WEIGHTED AVERAGE SHARES (THOUSANDS) 72,928 71,301 72,548 70,889 PLUS INCREMENTAL FROM ASSUMED VESTING OF EMPLO
Slide 22: Non-GAAP Net Income (Loss) Margin
Non - GAAP Net Income (Loss) Margin $M 3Q26 3Q25 YTD26 YTD25 REVENUE $ 471.5 $ 460.2 $ 1,382.6 $ 1,375.6 NET LOSS ATTRIBUTABLE TO UNISYS CORPORATION ($ 201.0) ($ 308.9) ($ 332.1) ($ 358.5) NON - GAAP NET (LOSS) INCOME ATTRIBUTABLE TO UNISYS ($ 8.5) ($ 5.9) ($ 24.0) $ 4.9 NET (LOSS) ATTRIBUTABLE TO U
Slide 23: Adjusted Free Cash Flow
Adjusted Free Cash Flow $M 3Q26 3Q25 YTD26 YTD25 CASH (USED FOR) PROVIDED BY OPERATIONS ($ 35.8) $ 38.0 ($ 66.5) ($ 244.9) ADDITIONS TO MARKETABLE SOFTWARE (11.3) (12.5) (32.4) (36.1) ADDITIONS TO PROPERTIES AND OTHER ASSETS (10.6) (5.6) (33.3) (22.4) FREE CASH FLOW ($ 57.7) $ 19.9 ($ 132.2) ($ 303.
Slide 24: Definitions of Non-GAAP Financial Metrics
Definitions of Non - GAAP Financial Metrics Non -GAAP operating profit – This measure excludes pretax pension and postretirement expense, pretax goodwill and intangible asset impairment charges and pre tax charges or gains associated with certain legal matters related to settlements, professional se
Slide 25: Definitions of Other Metrics
Definitions of Other Metrics ClearPath® – Represents software license and related support services, primarily ClearPath Forward®, within the company's ECS segment. Technology Solutions & Services ( TS&S ) – These measures exclude revenue, gross profit and gross profit margin in connection with softw