Amdocs Limited · NASDAQ:DOX
Amdocs — Q4 2026 Earnings Presentation
34 slides from Amdocs's earnings presentation, Nov 4, 2026
Slide 1: Fiscal Q4 2026 Earnings Presentation
Amdocs Limited NASDAQ: DOX Fiscal Q4 2026 Earnings Presentation November 3, 2026 Shimie Hortig President & Chief Executive Officer Tal Rozenfeld Chief Financial Officer Exhibit 99.2
Slide 2: Forward-Looking Statement
Forward-Looking Statement 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 affil
Slide 3: Today's speakers
Today’s speakers Tal Rozenfeld Chief Financial Officer Shimie Hortig President & Chief Executive Officer
Slide 4: Agenda
Agenda Strategy & Business Performance Update Shimie Hortig President & Chief Executive Officer Financial Review & Outlook Tal Rozenfeld Chief Financial Officer Q&A
Slide 5: Strategy and Business Performance Update
President & Chief Executive Officer Shimie Hortig Strategy and Business Performance Update
Slide 6: Moving Fast Executing Our New Strategy
Moving Fast Executing Our New Strategy Uniquely positioned to lead our customers in the AI revolution Agentic Telco Operating System (aOS) Expansion into New Vertical Emerging Growth Horizons Core offering for the agentic era Mid-long term growth engine Ideation, incubation, and scaling New Growth E
Slide 7: Strategic aOS Agreement with AT&T
Strategic aOS Agreement with AT&T A major new phase in our longstanding relationship with AT&T 10-year strategic engagement to transform and manage its end-to-end IT ecosystem, leveraging Amdocs agentic telco operating system Expands Amdocs’ footprint in the CALA region and moves beyond traditional
Slide 8: Three New Strategic aOS Agreements
Three New Strategic aOS Agreements 10-year strategic engagement to transform and manage its end-to-end IT ecosystem, leveraging Amdocs agentic telco operating system Expands Amdocs’ footprint in the CALA region and moves beyond traditional IT operations into an AI-driven operating model Demonstrates
Slide 9: Strong Sales Momentum
10-year strategic engagement to transform and manage its end-to-end IT ecosystem, leveraging Amdocs agentic telco operating system Expands Amdocs’ footprint in the CALA region and moves beyond traditional IT operations into an AI-driven operating model Demonstrates of our ability to handle highly co
Slide 10: Amdocs Entering the Insurance Industry
Entering FY28 with mid-single digit revenue growth and double-digit shareholder return Insurance industry shares the same characteristics that have defined Amdocs’ success in telecommunications Creating a differentiated offering for insurers Significantly expanding our addressable market Insurance p
Slide 11: Acquisition of EIS
Dozens of customers globally, including: Entering FY28 with mid-single digit revenue growth and double-digit shareholder return Modern, agentic multi-line core platform Spanning policy, billing, claims and customer engagement Deep insurance expertise in both Life & Annuities and Property & Casualty
Slide 12: Sharpening Amdocs' Strategic Focus
4 Sharpening Amdocs’ Strategic Focus Focused strategy is also about deciding what not to pursue These initiatives are all designed to focus the company and build a healthier, stronger new base for our agentic strategy Optimized products and services End or minimize investments in legacy products Sal
Slide 13: Accelerating Internal Transformation
Successful adoption across ~10,000 engineers and ~800 hubs Secured context, harness and workflow for aSDLC Hands-on agentic experience including training, certification, knowledge sharing 10C Upgrade + Cognitive Core + MGS Extension – Rolled-over to Q4 Managed GenAI Transformation - delays in signin
Slide 14: T-Mobile Update
T-Mobile Update Entering FY28 with mid-single digit revenue growth and double-digit shareholder return Reduced discretionary spending Completion of the large-scale integration project of the UScellular customers into T-Mobile in FY’26 Dispute concerning the recently signed agreements with T-Mobile,
Slide 15: Fiscal 2027 Outlook
2 PART Fiscal 2027 Outlook Non-GAAP EPS Growth3 (30.0)% - (26.0)% Non-GAAP operating margin3 19.2% - 19.8% Revenue Growth1,2 (11.0)% - (7.0)% YoY1 For comparison purposes, pro forma adjusts fiscal year 2026 revenue by approximately $360 million to reflect the exit of non-strategic business activitie
Slide 16: Fiscal 2028 Expectations
Fiscal 2028 Expectations Mid-single digit revenue growth Expected high single-digit Non-GAAP1 EPS growth Our growing strategic momentum will position us to return to growth and improved profitability aOS momentum and expanding pipeline of customer opportunities The expansion of our addressable marke
Slide 17: Financial Review & Outlook
Chief Financial Officer Tal Rozenfeld Financial Review & Outlook
Slide 18: Q4 FY2026 Financial Results
Constant currency. Assumes exchange rates in the current period were unchanged from the prior period Non-GAAP. See reconciliation tables in appendix Revenue $1,194m +3.8% YoY as reported +4.0% YoY constant currency(1) Non-GAAP(2) Operating Margin $1.98, above guidance midpoint of $1.94 – $2.00 GAAP
Slide 19: FY2026 Financial Results
FY2026 Financial Results Constant currency. Assumes exchange rates in the current period were unchanged from the prior period Non-GAAP. See reconciliation tables in appendix Revenue $4,697m +3.6% YoY as reported +3.0% YoY constant currency(1), inline with the guidance midpoint Non-GAAP(2) Operating
Slide 20: Managed Services
Managed Services Supporting visibility and business resilience ~64% of FY 2026 revenue, as compared to 66% and 58% in FY2025 and FY2024, respectively Managed Services Revenue 8-year strategic aOS agreement 10-year strategic agreement to agentify VEON’s operations Key Managed Services Wins: Q4 FY2026
Slide 21: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Cash, Credit Facility & Debt Position $ Millions, as of September 30, 2026 Cash + Available Credit Facility $697 million Committed to maintaining our Investment grade credit rating Baa1 Moody’s BBB S&P Available credit facility as of 9/30 Cash (3) DSO’s 83 days +9 days YoY
Slide 22: FY2027 Revenue Outlook
FY2027 Revenue Outlook For comparison purposes, pro forma adjusts fiscal year 2026 revenue by approximately $360 million to reflect the exit of non-strategic business activities relating to the resale of hardware activities, and the divestiture of the media business; these activities substantially a
Slide 23: Telco headwinds are materializing
Telco headwinds are materializing: Flat ARPU, minimal growth, intense competition Agentic Delivery Agentic Governance Agentic Operations Agentic Core BSS/OSS Agentic Orchestraion Our goal Become the primary partner of choice to our customers in their Agentic journey Create a tailored path for every
Slide 24: FY2027 Profitability Outlook
FY2027 Profitability Outlook Non-GAAP(1) operating margin will begin FY2027 well below the 19.5% midpoint of the annual guidance, but will consistently improve as the year progresses such that by Q4, profitability will be at the higher end of the annual guidance range Non-GAAP. See reconciliation ta
Slide 25: FY2027 Free Cash Flow Outlook & Capital Allocation
Telco headwinds are materializing: Flat ARPU, minimal growth, intense competition Agentic Delivery Agentic Governance Agentic Operations Agentic Core BSS/OSS Agentic Orchestraion Our goal Become the primary partner of choice to our customers in their Agentic journey Create a tailored path for every
Slide 26: Financial Outlook: FY2027E Full Year
Telco headwinds are materializing: Flat ARPU, minimal growth, intense competition Agentic Delivery Agentic Governance Agentic Operations Agentic Core BSS/OSS Agentic Orchestraion Our goal Become the primary partner of choice to our customers in their Agentic journey Create a tailored path for every
Slide 27: Fiscal 2028 Expectations
Fiscal 2028 Expectations Our growing strategic momentum will position us to return to growth and improved profitability aOS momentum and expanding pipeline of customer opportunities The expansion of our addressable market into insurance Our internal transformation We will be a stronger, more focused
Slide 28: Q&A
Q&A 28
Slide 29: Telco headwinds are materializing
Telco headwinds are materializing: Flat ARPU, minimal growth, intense competition Agentic Delivery Agentic Governance Agentic Operations Agentic Core BSS/OSS Agentic Orchestraion Our goal Become the primary partner of choice to our customers in their Agentic journey Create a tailored path for every
Slide 30: Appendix: Outlook & Reconciliation Tables
Appendix Outlook & Reconciliation Tables
Slide 31: Reconciliation Tables
Reconciliation Tables The amounts under "Purchase of property and equipment, net", include immaterial proceeds from sale of property and equipment.
Slide 32: Reconciliation Tables
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Slide 33: Reconciliation Tables
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Slide 34: Thank you
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