Amdocs Ltd【DOX】株式ニュース

Amdocs Limited Reports Second Quarter Fiscal 2026 ResultsMay 13, 2026 4:01 PM
ACCESS NewswireRevenue of $1.17 Billion, up 3.9% YoY as Reported and up 2.2% YoY in Constant Currency(1)Expects Fiscal 2026 Revenue Growth Outlook of 2.6%-4.6% YoY as ReportedReiterates Midpoint of Fiscal 2026 Revenue Growth Outlook in Constant Currency(1) while Tightening Expected Range to 2.0%-4.0% YoYAnnounces Retirement of Long-Serving CFO and Appointment of Internal CFO SuccessorSecond Quarter Fiscal 2026 Highlights(All comparisons are against same quarter of the prior year, unless otherwise stated)Revenue of $1,172 million, up 3.9% as reported and up 2.2% in constant currency(1); revenue was above the midpoint of the $1,150-$1,190 million guidance range and includes a positive impact from foreign currency movements of approximately $2 million relative to our guidance assumptionsRevenue of $754 million in North America, up 2.2%; record revenue of $192 million in Europe, up 6.2%; revenue of $226 million in Rest of World, up 8.0% Managed services revenue of $759 million, equivalent to approximately 65% of total revenue and up 1.6% GAAP diluted EPS of $1.28, above the midpoint of the guidance range of $1.22-$1.30Non-GAAP diluted EPS of $1.78, above the midpoint of the guidance range of $1.73-$1.79GAAP operating income of $183 million; GAAP operating margin of 15.6%, down 190 basis points compared to last year’s second quarter and 230 basis points sequentially, mainly due to costs related to leadership transition as well as benefit from changes in certain acquisitions related liabilities measured at fair value in the first fiscal quarterNon-GAAP operating income of $252 million; non-GAAP operating margin of 21.5%, up 20 basis points as compared to last year’s second fiscal quarter and down 10 basis points sequentially Free cash flow of $80 million, comprised of cash flow from operations of $102 million, including $17 million of restructuring payments, less $21 million in net capital expenditures(2); excluding restructuring payments, free cash flow was $97 million; reiterates full year fiscal 2026 free cash outlook of $710 million to $730 million, excluding restructuring paymentsRepurchased $138 million of ordinary shares during the second fiscal quarterTwelve-month backlog of $4.28 billion, up $30 million sequentially and up 2.6% Amdocs Limited (the “Company” or “Amdocs”) announced today that Tamar Rapaport-Dagim, Chief Financial Officer and Chief Operating Officer, has decided to retire from the Company following a distinguished career spanning over two decades. Tal Rozenfeld, currently General Manager Head of Finance, has been appointed Chief Financial Officer, effective June 1st, 2026. Tamar will continue to complete the transition process to help ensure a seamless handover of responsibilities.(1) Revenue on a constant currency basis assumes exchange rates in the current period were unchanged from the prior period
(2)Please refer to the Selected Financial Metrics tables below (figures may not sum because of rounding)JERSEY CITY, NJ / ACCESS Newswire / May 13, 2026 / 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 March 31, 2026."I'm excited to be leading Amdocs forward in the agentic era, as our vision is to become the primary partner of choice to turn the agentic opportunity into reality for our customers. We believe Amdocs is uniquely positioned to lead due to our deep industry knowledge and telco domain expertise, engineering and innovation pedigree, mission critical systems transformation leadership and our outcome-based business model. To realize our vision, we are aiming to move towards an agentic and automated portfolio, tailor agentic customer roadmaps, leverage strategic partnerships, and internally transform the way we operate. While we are continuing to refine our strategy, we are already seeing initial commercial engagements with the launch of aOS- Amdocs' agentic operating system for telco.We are building this strategy on our strong business foundations, as demonstrated by solid Q2 results which show healthy sales, strong customer relationships and consistent operating execution," said Shimie Hortig, president and chief executive officer of Amdocs Management Limited."Project delivery continued as a defining strength for Amdocs this quarter, as reflected by many production milestones achieved for AT&T, Vodafone Germany and other flagship customers worldwide. Profitability improved year-over-year, demonstrating our continued focus on operational excellence and automation, and we generated healthy free cash flow of which we returned more than 100% to shareholders though share repurchases and dividend payments," said Tamar Rapaport-Dagim, chief financial officer and chief operating officer of Amdocs Management Limited.Hortig continued, "I'm pleased with our financial and operational progress for the fiscal year to date, and while we are closely monitoring macroeconomic developments and customer spending behavior in the current climate, we are on track to achieve our fiscal 2026 financial guidance."Hortig concluded, "On behalf of the Board and the entire leadership team, I want to thank Tamar for her exceptional leadership, partnership and dedication over the past 22 years. Throughout her tenure, Tamar has played a critical role in strengthening our financial foundation, leading operational excellence, supporting our strategic growth and helping position the company for long-term success. We are deeply grateful for her many contributions and wish her the very best. We are very pleased to appoint Tal Rozenfeld as our next Chief Financial Officer. Tal brings deep financial expertise, strong operational and business knowledge and a proven track record of leadership. Tal has been an important part of our finance and leadership team, and we are confident he will play a key role in driving the next phase of Amdocs' growth and execution."Revenue(All comparisons are against same quarter as the prior year, unless otherwise stated ) In millions Three months ended March 31, 2026 Actual Guidance Revenue $1,172 $ 1,150 - $1,190 Revenue Growth, as reported 3.9% Revenue Growth, constant currency(1) 2.2% Revenue for the second fiscal quarter of 2026 was above the midpoint of Amdocs' guidance and includes positive impact from foreign currency movement of $2 million compared to our guidance assumptionsRevenue for the second fiscal quarter includes a positive impact from foreign currency movements of $19 million relative to the second quarter of fiscal 2025 and a positive impact from foreign currency movements of $3 million relative to the first quarter of fiscal 2026Net Income and Earnings Per Share In thousands, except per share data Three months ended March 31, 2026 2025 GAAP Measures Net Income $138,772 $164,001 Net Income attributable to Amdocs Limited $137,815 $163,243 Diluted earnings per share $1.28 $1.45 Non-GAAP Measures Non-GAAP Net Income $192,501 $201,017 Non-GAAP Net Income attributable to Amdocs Limited $191,544 $200,259 Non-GAAP Diluted earnings per share $1.78 $1.78 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 belowCapital Allocation & LiquidityQuarterly Cash Dividend Program: On May 13, 2026, the Board approved the Company's next quarterly cash dividend payment at the rate of $0.569 per share, and set June 30, 2026 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on July 31, 2026Share Repurchase Activity: Repurchased $138 million of ordinary shares during the second quarter of fiscal 2026Commercial Paper Program: In March 2026, the Company established a commercial paper program, supported by the Revolving Credit Facility under which it may issue unsecured commercial paper up to a total of $800 million outstanding at any time, with maturities of up to 397 days from the date of issue. The net proceeds from the issuance of commercial paper are expected to be used for general corporate purposes. As of March 31, 2026, there was no outstanding borrowing amount under the commercial paper programRevolving Credit Facility: In March 2026, the Revolving Credit Facility was amended to increase the amount from $500 million to an aggregate amount of $800 millionTwelve-month BacklogTwelve-month backlog was $4.28 billion at the end of the second quarter of fiscal 2026, up approximately 2.6% as compared to last year's second 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.Third Quarter Fiscal Year 2026 Outlook
In millions, except per share data
Q3 - 2026 Revenue $ 1,155-$1,195 GAAP Diluted earnings per share $ 1.39-$1.47 Non-GAAP Diluted earnings per share $ 1.81-$1.87 Third quarter revenue guidance assumes a negative $1 million sequential impact from foreign currency fluctuations as compared to the second quarter of fiscal 2026GAAP diluted EPS guidance does not include the impact of future restructuring chargesThird quarter non-GAAP diluted EPS guidance excludes primarily equity-based compensation expense of approximately $0.22-$0.24 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.16 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effectsFull Year Fiscal 2026 Outlook
FY 2026 - Year-over -Year growth
Current guidance Previous guidance Revenue Growth, as reported 2.6%-4.6% 1.5%-5.5% Revenue Growth, constant currency (1) 2.0%-4.0% 1.0%-5.0% GAAP Diluted earnings per share 12.0%-15.0% 10.0%-17.0% Non-GAAP Diluted earnings per share 5.0%-7.0% 4.0%-8.0% FY 2026, in millions Current guidance Previous guidance Free Cash Flow (2) $ 710-$730 $ 710-$730 Full year fiscal 2026 revenue guidance incorporates an expected positive impact from foreign currency fluctuations of approximately 0.6% year-over-year compared with a positive impact of 0.5% year-over-year previously, and includes some inorganic contributionGAAP diluted EPS guidance does not include the impact of future restructuring chargesNon-GAAP diluted earnings per share growth excludes primarily equity-based compensation expense of approximately $0.97-$1.01 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.58 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effectsNon-GAAP operating margin is anticipated to be within a range of 21.3% to 21.9% for the full year fiscal 2026Non-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 valueNon-GAAP effective tax rate is anticipated to be within a range of 16% to 19% for the full year fiscal 2026Reiterates full year fiscal 2026 free cash flow(2) of $710 million to $730 million, excluding payments related to restructuring charges; free cash flow(2) is comprised of cash flow from operations, less net capital expendituresThe forward-looking statements regarding our third fiscal quarter 2026 and full year fiscal 2026 guidance take into consideration the Company's current expectations regarding macroeconomic, geopolitical and industry specific risks and various uncertainties and certain assumptions, some of which 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, including customer spending behavior 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. See "Forward-Looking Statements" below.Conference Call and Earnings Webcast Presentation DetailsAmdocs will host a conference call and earnings webcast presentation on May 13, 2026 at 5:00 p.m. Eastern Time to discuss the Company's second quarter of fiscal 2026 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 financial measures, including non-GAAP diluted earnings per share, free cash flow(2), revenue on a constant currency(1) 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; andtax effects related to the above.Free cash flow(2) 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 financial measures, including non-GAAP diluted earnings per share, free cash flow(2), revenue on a constant currency(1) 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 ResourcesKeep up with Amdocs news by visiting the Company's websiteSubscribe to Amdocs' RSS Feed and follow us on Twitter, Facebook, LinkedIn and YouTubeAbout AmdocsAmdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.Forward-Looking StatementsThis 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' strategy, including with respect to artificial intelligence and agentic opportunities, growth, financial outlook, 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, uncertainties, and other important factors that may cause future results to differ materially 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, 2025, filed on December 15, 2025, and our Form 6-K furnished for the first quarter of fiscal 2026 on February 17, 2026.Contact:
Matthew Smith
Head of Investor Relations
Amdocs
314-212-8328
E-mail: dox_info@amdocs.comAMDOCS LIMITEDConsolidated Statements of Income
(In thousands, except per share data) Three months ended
March 31, Six months ended
March 31, 2026 2025 2026 2025 Revenue $1,171,979 $1,128,203 $2,327,918 $2,238,258 Operating expenses: Cost of revenue 716,733 698,049 1,444,456 1,380,308 Research and development 87,001 81,796 168,979 166,129 Selling, general and administrative 153,677 134,625 267,398 256,712 Amortization of purchased intangible assets and other 21,308 15,998 35,842 31,757 Restructuring charges 10,405 - 21,706 6,783 989,124 930,468 1,938,381 1,841,689 Operating income 182,855 197,735 389,537 396,569 Interest and other expense, net (5,963) (8,465) (17,228) (14,874)Income before income taxes 176,892 189,270 372,309 381,695 Income taxes 38,120 25,269 75,083 65,842 Net income $138,772 $164,001 $297,226 $315,853 Net income attributable to noncontrolling interests 957 758 1,845 1,477 Net income attributable to Amdocs Limited $137,815 $163,243 $295,381 $314,376 Basic earnings per share attributable to Amdocs Limited $1.29 $1.46 $2.75 $2.80 Diluted earnings per share attributable to Amdocs Limited $1.28 $1.45 $2.74 $2.78 Cash dividends declared per ordinary share $0.569 $0.527 $1.096 $1.006 Basic weighted average number of shares outstanding 107,095 111,961 107,541 112,357 Diluted weighted average number of shares outstanding 107,472 112,514 107,997 112,981 AMDOCS LIMITED
Selected Financial Metrics
(In thousands, except per share data) Three months ended
March 31, Six months ended
March 31, 2026 2025 2026 2025 Revenue $1,171,979 $1,128,203 $2,327,918 $2,238,258 Non-GAAP operating income 251,836 240,106 501,775 475,504 Non-GAAP net income 192,501 201,017 389,632 389,894 Non-GAAP net income attributable to Amdocs Limited 191,544 200,259 387,787 388,417 Non-GAAP diluted earnings per share $1.78 $1.78 $3.59 $3.44 Diluted weighted average number of shares outstanding 107,472 112,514 107,997 112,981 Free Cash Flows
(In thousands) Three months ended
March 31, Six months ended
March 31, 2026 2025 2026 2025 Net Cash Provided by Operating Activities $101,584 $172,458 $321,766 $278,013 Purchases of property and equipment, net (a) (21,237) (15,964) (53,476) (43,319)Free Cash Flow $80,347 $156,494 $268,290 $234,694 (a) The amounts under "Purchase of property and equipment, net", include immaterial proceeds from sale of property and equipment for the three and six months ended March 31, 2026 and 2025, respectively.AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(In thousands) Three Months Ended March 31, 2026 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 $716,733 $- $(11,392)$(135)$- $- $- $705,206 Research and development 87,001 (2,068) 84,933 Selling, general and administrative 153,677 (24,539) 866 130,004 Amortization of purchased intangible assets and other 21,308 (21,308) - Restructuring charges 10,405 (10,405) - Total operating expenses 989,124 (21,308) (37,999) 731 (10,405) - - 920,143 Operating income 182,855 21,308 37,999 (731) 10,405 251,836 Interest and other expense, net (5,963) (7,637) (13,600)Income taxes 38,120 7,615 45,735 Net income 138,772 21,308 37,999 (731) 10,405 (7,637) (7,615) 192,501 Net income attributable to noncontrolling interests 957 957 Net income attributable to Amdocs Limited $137,815 $21,308 $37,999 $(731)$10,405 $(7,637)$(7,615)$191,544 Three Months Ended March 31, 2025 GAAP Amortization
of purchased intangible assets and other Equity based compensation
expense Changes in certain acquisitions
related liabilities measured at fair value Other Tax
effect Non-GAAP Operating expenses: Cost of revenue $698,049 $- $(12,356)$(360)$- $- $685,333 Research and development 81,796 (2,283) 79,513 Selling, general and administrative 134,625 (11,014) (360) 123,251 Amortization of purchased intangible assets and other 15,998 (15,998) - Restructuring charges - - Total operating expenses 930,468 (15,998) (25,653) (720) - - 888,097 Operating income 197,735 15,998 25,653 720 240,106 Interest and other expense, net (8,465) (69) (8,534)Income taxes 25,269 5,286 30,555 Net income 164,001 15,998 25,653 720 (69) (5,286) 201,017 Net income attributable to noncontrolling interests 758 758 Net income attributable to Amdocs Limited $163,243 $15,998 $25,653 $720 $(69)$(5,286)$200,259 AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(In thousands) Six Months Ended March 31, 2026 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 $1,444,456 $- $(22,765)$(494)$- $- $- $1,421,197 Research and development 168,979 (3,927) 165,052 Selling, general and administrative 267,398 (35,397) 7,893 239,894 Amortization of purchased intangible assets and other 35,842 (35,842) - Restructuring charges 21,706 (21,706) - Total operating expenses 1,938,381 (35,842) (62,089) 7,399 (21,706) - - 1,826,143 Operating income 389,537 35,842 62,089 (7,399) 21,706 501,775 Interest and other expense, net (17,228) (6,064) (23,292)Income taxes 75,083 13,768 88,851 Net income 297,226 35,842 62,089 (7,399) 21,706 (6,064) (13,768) 389,632 Net income attributable to noncontrolling interests 1,845 1,845 Net income attributable to Amdocs Limited $295,381 $35,842 $62,089 $(7,399)$21,706 $(6,064)$(13,768)$387,787 Six Months Ended March 31, 2025 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 $1,380,308 $- $(25,606)$(360)$- $- $- $1,354,342 Research and development 166,129 (4,554) 161,575 Selling, general and administrative 256,712 (22,013) 12,138 246,837 Amortization of purchased intangible assets and other 31,757 (31,757) - Restructuring charges 6,783 (6,783) - Total operating expenses 1,841,689 (31,757) (52,173) 11,778 (6,783) - - 1,762,754 Operating income 396,569 31,757 52,173 (11,778) 6,783 475,504 Interest and other expense, net (14,874) 5,979 (8,895)Income taxes 65,842 10,873 76,715 Net income 315,853 31,757 52,173 (11,778) 6,783 5,979 (10,873) 389,894 Net income attributable to noncontrolling interests 1,477 1,477 Net income attributable to Amdocs Limited $314,376 $31,757 $52,173 $(11,778)$6,783 $5,979 $(10,873)$388,417 AMDOCS LIMITED
Condensed Consolidated Balance Sheets
(In thousands) As of March 31,
2026 September 30,
2025 ASSETS Current assets: Cash and cash equivalents $214,495 $324,999 Accounts receivable, net, including unbilled 938,182 935,751 Prepaid expenses and other current assets 364,347 331,387 Total current assets 1,517,024 1,592,137 Property and equipment, net 738,836 768,557 Lease assets 179,580 182,088 Goodwill and other intangible assets, net 3,243,895 3,046,962 Other noncurrent assets 684,535 660,086 Total assets $6,363,870 $6,249,830 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable, accruals and other $1,108,842 $1,201,206 Short-term financing arrangements 250,000 - Lease liabilities 36,017 38,725 Deferred revenue 152,434 118,861 Total current liabilities 1,547,293 1,358,792 Lease liabilities 134,567 140,776 Long-term debt, net of unamortized debt issuance costs 647,211 646,901 Other noncurrent liabilities 611,376 632,681 Total Amdocs Limited Shareholders' equity 3,382,292 3,429,453 Noncontrolling interests 41,131 41,227 Total equity 3,423,423 3,470,680 Total liabilities and equity $6,363,870 $6,249,830 AMDOCS LIMITED
Consolidated Statements of Cash Flows
(In thousands) Six months ended
March 31, 2026 2025 Cash Flow from Operating Activities: Net income $297,226 $315,853 Reconciliation of net income to net cash provided by operating activities: Depreciation, amortization and impairment 103,747 94,460 Amortization of debt issuance cost 310 300 Equity-based compensation expense 62,089 52,173 Deferred income taxes 24,148 2,296 Loss from short-term interest-bearing investments - 1,739 Net changes in operating assets and liabilities, net of amounts acquired: Accounts receivable, net (46,640) 33,174 Prepaid expenses and other current assets (23,114) (32,526)Other noncurrent assets 18,492 5,141 Lease assets and liabilities, net (6,408) (1,194)Accounts payable, accrued expenses and accrued personnel (90,120) (126,700)Deferred revenue 23,505 27,846 Income taxes payable, net (5,003) (11,082)Other noncurrent liabilities (36,466) (83,467)Net cash provided by operating activities $321,766 $278,013 Cash Flow from Investing Activities: Purchase of property and equipment, net (a) (53,476) (43,319)Proceeds from sale of short-term interest-bearing investments - 92,955 Net cash paid for business and intangible assets acquisitions (217,663) (57,169)Net cash from equity investments and other 11,848 16,741 Net cash (used) provided by investing activities $(259,291) $9,208 Cash Flow from Financing Activities: Repurchase of shares (284,513) (279,720)Proceeds from employee stock option exercises 3,193 11,422 Payments of dividends (113,849) (107,810)Distribution to noncontrolling interests (1,941) (2,209)Borrowings under financing arrangements 250,000 - Payment of contingent consideration and deferred payment of business acquisitions (25,869) (7,599)Net cash used in financing activities $(172,979) $(385,916)Net decrease in cash and cash equivalents (110,504) (98,695)Cash and cash equivalents at beginning of period 324,999 346,085 Cash and cash equivalents at end of period $214,495 $247,390 AMDOCS LIMITED
Supplementary Information
(In millions) Three months ended March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 North America $754.3 $764.7 $762.4 $745.4 $738.3 Europe 191.8 181.7 179.8 189.4 180.7 Rest of the World 225.8 209.5 208.0 209.6 209.2 Total Revenue $1,172.0 $1,155.9 $1,150.2 $1,144.4 $1,128.2 Three months ended March 31, December 31, September 30, June 30, March 31, 2026 2025 2025 2025 2025 Managed Services Revenue $758.7 $745.9 $748.3 $771.5 $747.1 as of
March 31, December 31, September 30, June 30, March 31,
2026 2025 2025 2025 2025 12-Month Backlog $4,280 $4,250 $4,190 $4,150 $4,170 SOURCE: Amdocs - IRView the original press release on ACCESS NewswireOriginal: Amdocs Limited Reports Second Quarter Fiscal 2026 Results

Amdocs Limited Reports First Quarter Fiscal 2026 ResultsFebruary 3, 2026 4:01 PM
ACCESS NewswireRevenue of $1.16 Billion, up 4.1% YoY as Reported and up 3.5% YoYin Constant Currency(1)T-Mobile USA, Inc. Enters into a Strategic Multi-Year Agreement with Amdocs to Support Its Customer Experience and Operational Excellence JourneyAmdocs Introduces aOS: An Agentic Operating System for TelecommunicationsExpects Fiscal 2026 Revenue Growth Outlook of 1.5%-5.5% YoY as ReportedReiterates Fiscal 2026 Revenue Growth Outlook of 1.0%-5.0% YoY in Constant Currency(1)First Quarter Fiscal 2026 Highlights(All comparisons are against the prior year)Revenue of $1,156 million, up 4.1% as reported and up 3.5% in constant currency(1); revenue was above the midpoint of the $1,135-$1,175 million guidance range even with unfavorable foreign currency movements of roughly $3 million compared to our guidance assumptionsRevenue of $182 million in Europe, up 17.1% as compared to last year's first quarterManaged services revenue of $746 million, equivalent to approximately 65% of total revenue and up 2.3% as compared to last year's first quarterGAAP diluted EPS of $1.45, above the $1.36-$1.44 guidance range, primarily due to a lower than anticipated GAAP effective tax rateNon-GAAP diluted EPS of $1.81, above the guidance range of $1.73-$1.79, primarily due to a lower than anticipated non-GAAP effective tax rateGAAP operating income of $207 million; GAAP operating margin of 17.9%, up 640 basis points sequentially, mainly due to lower restructuring charges, and unchanged compared to last year's first quarterNon-GAAP operating income of $250 million; non-GAAP operating margin of 21.6%, up 40 basis points as compared to last year's first fiscal quarter and unchanged sequentiallyFree cash flow of $188 million, comprised of cash flow from operations of $220 million, less $32 million in net capital expenditures(2), including $49 million of restructuring payments; reiterates full year fiscal 2026 free cash outlook of $710 million to $730 million, excluding restructuring paymentsRepurchased $146 million of ordinary shares during the first fiscal quarterTwelve-month backlog of $4.25 billion, up approximately $60 million sequentially and up 2.7% as compared to last year's first fiscal quarter(1) Revenue on a constant currency basis assumes exchange rates in the current period were unchanged from the prior period
(2) Please refer to the Selected Financial Metrics tables below (figures may not sum because of rounding)
(3) Expected total shareholder return assumes midpoint of fiscal year 2026 non-GAAP EPS growth outlook, plus dividend yieldJERSEY CITY, NJ / ACCESS Newswire / February 3, 2026 / 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 December 31, 2025."First quarter financial results were consistent with our guidance as we continue to focus on our primary goal of reaccelerating Amdocs' long-term growth and extending our position as a market leader for the generative AI era. I am proud to announce that Amdocs has extended our long-term relationship with T-Mobile under a new multi-year agreement which includes managed services, software development, and AI innovation. In addition, we signed an expanded multi-year engagement at Vodafone Germany, added two new western European logos, and closed the acquisition of Matrixx Software as a strategic consolidation move which complements and expands our activities at Verizon, Telus, Telefonica, Swisscom, Three, Virgin Media O2, Telstra and other customers. As to generative AI, our accelerated development roadmap is progressing as planned with today's announcement of aOS, an agentic operating system purpose-built for telecommunications which we expect can provide a new long-term growth engine for Amdocs," said Shuky Sheffer, president and chief executive officer of Amdocs Management Limited."Our first quarter profitability improved significantly from a year ago and was unchanged sequentially as we balanced internal efficiency gains with accelerated generative AI investments. Earnings-to-cash conversion was strong, reflecting consistent execution under the many milestone and outcome-based projects and managed services engagements we are supporting for our customers. Over the busy holiday period, we provided best-in-class mission critical operations support for our customers. We also maintained very high managed services renewal rates, signing expanded multi-year engagements with T-Mobile, Vodafone Germany and other customers which together strengthen our business resiliency, said Tamar Rapaport-Dagim, chief financial officer & chief operating officer of Amdocs Management Limited.Sheffer concluded, "Across our serviceable addressable market of roughly $60 billion, many growth opportunities exist by expanding our value proposition with current customers, diversifying in new geographies and by addressing emerging domains such as Generative AI, cloud migration and fiber rollout. With our deep telco domain expertise and tech-led, outcomes-based business model, we are strongly positioned to monetize a rich deal pipeline. That said, we continue to monitor our customers' demand and spending behavior within the global macroeconomic environment. Overall, we are reiterating our fiscal 2026 revenue growth outlook of 1.0% to 5.0% in constant currency(1), putting us on-track to achieve our target of high single-digit expected total shareholder returns(3) for the year."Revenue
(All comparisons are against the prior year period) In millions Three months ended December 31, 2025 Actual Guidance Revenue $ 1,156 $ 1,135 - $1,175 Revenue Growth, as reported 4.1% Revenue Growth, constant currency (1) 3.5% Revenue for the first fiscal quarter of 2026 was slightly above the midpoint of Amdocs' guidanceRevenue for the first fiscal quarter includes a positive impact from foreign currency movements of approximately $7 million relative to the first quarter of fiscal 2025 and a negative impact from foreign currency movements of approximately $3 million relative to the fourth quarter of fiscal 2025 and compared to our guidance assumptionsNet Income and Earnings Per Share In thousands, except per share data Three months ended December 31, 2025 2024 GAAP Measures Net Income $ 158,454 $ 151,852 Net Income attributable to Amdocs Limited $ 157,566 $ 151,133 Diluted earnings per share $ 1.45 $ 1.33 Non-GAAP Measures Non-GAAP Net Income $ 197,131 $ 188,877 Non-GAAP Net Income attributable to Amdocs Limited $ 196,243 $ 188,158 Non-GAAP Diluted earnings per share $ 1.81 $ 1.66 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 AllocationM&A Activity: On December 23, 2025, Amdocs completed the acquisition of Matrixx, a privately owned company specializing in Charging & Rating solutions for global communication service providers, for a net consideration of approximately $197 millionQuarterly Cash Dividend Program: On February 3, 2026, the Board approved the Company's next quarterly cash dividend payment at the new increased rate of $0.569 per share, as approved at the January 2026 annual general meeting of shareholders and set March 31, 2026 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on April 24, 2026Share Repurchase Activity: Repurchased $146 million of ordinary shares during the first quarter of fiscal 2026Twelve-month BacklogTwelve-month backlog was $4.25 billion at the end of the first quarter of fiscal 2026, up approximately 2.7% as compared to last year's first 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.Second Quarter Fiscal Year 2026 Outlook In millions, except per share data Q2 - 2026 Revenue $ 1,150-$1,190 GAAP Diluted earnings per share $ 1.22-$1.30 Non-GAAP Diluted earnings per share $ 1.73-$1.79 Second quarter revenue guidance assumes a positive $1 million sequential impact from foreign currency fluctuations as compared to the first quarter of fiscal 2026Second quarter non-GAAP diluted EPS guidance excludes primarily equity-based compensation expense of approximately $0.33-$0.35 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.15 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effectsGAAP diluted EPS guidance does not include the impact of future restructuring chargesFull Year Fiscal 2026 Outlook FY 2026 - Year-over -Year growth Current guidance Previous guidance Revenue Growth, as reported 1.5%-5.5% 1.7%-5.7% Revenue Growth, constant currency (1) 1.0%-5.0% 1.0%-5.0% GAAP Diluted earnings per share 10.0%-17.0% 13.5%-20.5% Non-GAAP Diluted earnings per share 4.0%-8.0% 4.0%-8.0% FY 2026, in millions Current guidance Previous guidance Free Cash Flow (2) $ 710-$730 $ 710-$730 Full year fiscal 2026 revenue guidance incorporates an expected positive impact from foreign currency fluctuations of approximately 0.5% year-over-year compared with a positive impact of 0.7% year-over-year previously, and includes some inorganic contribution, including the acquisition of Matrixx Software which was already contemplated in the full year revenue guidanceGAAP diluted EPS guidance does not include the impact of future restructuring chargesNon-GAAP diluted earnings per share growth excludes primarily equity-based compensation expense of approximately $0.98-$1.04 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.55 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effectsNon-GAAP operating margin is anticipated to be within a range of 21.3% to 21.9% for the full year fiscal 2026Non-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 valueNon-GAAP effective tax rate is anticipated to be within a range of 16% to 19% for the full year fiscal 2026Reiterates full year fiscal 2026 free cash flow(2) of $710 million to $730 million, excluding payments related to restructuring charges; free cash flow(2) is comprised of cash flow from operations, less net capital expendituresThe forward-looking statements regarding our second 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 DetailsAmdocs will host a conference call and earnings webcast presentation on February 3, 2026 at 5:00 p.m. Eastern Time to discuss the Company's first quarter of fiscal 2026 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(2), revenue on a constant currency(1) 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; andtax effects related to the above.Free cash flow(2) 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(2), revenue on a constant currency(1) 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 ResourcesKeep up with Amdocs news by visiting the Company's websiteSubscribe to Amdocs' RSS Feed and follow us on Twitter, Facebook, LinkedIn and YouTubeAbout AmdocsAmdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.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, 2025, filed on December 15, 2025.Contact:
Matthew Smith
Head of Investor Relations
Amdocs
314-212-8328
E-mail: dox_info@amdocs.comAMDOCS LIMITED
Consolidated Statements of Income
(In thousands, except per share data) Three months ended
December 31, 2025 2024 Revenue $1,155,939 $1,110,055 Operating expenses: Cost of revenue 727,723 682,259 Research and development 81,978 84,333 Selling, general and administrative 113,721 122,087 Amortization of purchased intangible assets and other 14,534 15,759 Restructuring charges 11,301 6,783 949,257 911,221 Operating income 206,682 198,834 Interest and other expense, net (11,265) (6,409)Income before income taxes 195,417 192,425 Income taxes 36,963 40,573 Net income $158,454 $151,852 Net income attributable to noncontrolling interests 888 719 Net income attributable to Amdocs Limited $157,566 $151,133 Basic earnings per share attributable to Amdocs Limited $1.46 $1.34 Diluted earnings per share attributable to Amdocs Limited $1.45 $1.33 Cash dividends declared per ordinary share $0.527 $0.479 Basic weighted average number of shares outstanding 107,977 112,745 Diluted weighted average number of shares outstanding 108,512 113,439 AMDOCS LIMITED
Selected Financial Metrics
(In thousands, except per share data) Three months ended
December 31, 2025 2024 Revenue $1,155,939 $1,110,055 Non-GAAP operating income 249,939 235,398 Non-GAAP net income 197,131 188,877 Non-GAAP net income attributable to Amdocs Limited 196,243 188,158 Non-GAAP diluted earnings per share $1.81 $1.66 Diluted weighted average number of shares outstanding 108,512 113,439 Free Cash Flows
(In thousands) Three months ended
December 31, 2025 2024 Net Cash Provided by Operating Activities $220,182 $105,555 Purchase of property and equipment, net (a) (32,239) (27,355)Free Cash Flow $187,943 $78,200 (a) 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 December 31, 2025 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 $727,723 $- $(11,373)$(359)$- $- $- $715,991 Research and development 81,978 (1,859) 80,119 Selling, general and administrative 113,721 (10,858) 7,027 109,890 Amortization of purchased intangible assets and other 14,534 (14,534) - Restructuring charges 11,301 (11,301) - Total operating expenses 949,257 (14,534) (24,090) 6,668 (11,301) - - 906,000 Operating income 206,682 14,534 24,090 (6,668) 11,301 - - 249,939 Interest and other expense, net (11,265) 1,573 (9,692)Income taxes 36,963 6,153 43,116 Net income 158,454 14,534 24,090 (6,668) 11,301 1,573 (6,153) 197,131 Net income attributable to noncontrolling interests 888 888 Net income attributable to Amdocs Limited $157,566 $14,534 $24,090 $(6,668)$11,301 $1,573 $(6,153)$196,243 Three Months Ended December 31, 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 $682,259 $- $(13,250)$- $- $- $- $669,009 Research and development 84,333 (2,271) 82,062 Selling, general and administrative 122,087 (10,999) 12,498 123,586 Amortization of purchased intangible assets and other 15,759 (15,759) - Restructuring charges 6,783 (6,783) - Total operating expenses 911,221 (15,759) (26,520) 12,498 (6,783) - - 874,657 Operating income 198,834 15,759 26,520 (12,498) 6,783 - - 235,398 Interest and other expense, net (6,409) 6,048 (361)Income taxes 40,573 5,587 46,160 Net income 151,852 15,759 26,520 (12,498) 6,783 6,048 (5,587) 188,877 Net income attributable to noncontrolling interests 719 719 Net income attributable to Amdocs Limited $151,133 $15,759 $26,520 $(12,498)$6,783 $6,048 $(5,587)$188,158 AMDOCS LIMITED
Condensed Consolidated Balance Sheets
(In thousands) As of December 31,
2025 September 30,
2025 ASSETS Current assets: Cash and cash equivalents $247,875 $324,999 Accounts receivable, net, including unbilled 962,780 935,751 Prepaid expenses and other current assets 333,224 331,387 Total current assets 1,543,879 1,592,137 Property and equipment, net 744,706 768,557 Lease assets 179,081 182,088 Goodwill and other intangible assets, net 3,247,622 3,046,962 Other noncurrent assets 628,794 660,086 Total assets $6,344,082 $6,249,830 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable, accruals and other $1,167,772 $1,201,206 Short-term financing arrangements 130,000 - Lease liabilities 37,808 38,725 Deferred revenue 125,209 118,861 Total current liabilities 1,460,789 1,358,792 Lease liabilities 137,495 140,776 Long-term debt, net of unamortized debt issuance costs 647,058 646,901 Other noncurrent liabilities 633,620 632,681 Total Amdocs Limited Shareholders' equity 3,423,005 3,429,453 Noncontrolling interests 42,115 41,227 Total equity 3,465,120 3,470,680 Total liabilities and equity $6,344,082 $6,249,830 AMDOCS LIMITED
Consolidated Statements of Cash Flows
(In thousands) Three months ended
December 31, 2025 2024 Cash Flow from Operating Activities: Net income $158,454 $151,852 Reconciliation of net income to net cash provided by operating activities: Depreciation, amortization and impairment 50,736 46,968 Amortization of debt issuance cost 157 151 Equity-based compensation expense 24,090 26,520 Deferred income taxes 15,152 1,651 Loss from short-term interest-bearing investments - 662 Net changes in operating assets and liabilities, net of amounts acquired: Accounts receivable, net (14,547) 2,417 Prepaid expenses and other current assets 18,816 (14,787)Other noncurrent assets 17,597 (7,925)Lease assets and liabilities, net (1,190) (2,329)Accounts payable, accrued expenses and accrued personnel (19,383) (50,837)Deferred revenue 6,516 867 Income taxes payable, net (9,327) (5,129)Other noncurrent liabilities (26,889) (44,526)Net cash provided by operating activities $220,182 $105,555 Cash Flow from Investing Activities: Purchase of property and equipment, net (a) (32,239) (27,355)Proceeds from sale of short-term interest-bearing investments - 33,362 Net cash paid for business acquisitions (194,489) (57,083)Net Cash from equity investments and other 1,846 16,347 Net cash used in investing activities $(224,882) $(34,729)Cash Flow from Financing Activities: Repurchase of shares (146,168) (144,483)Proceeds from employee stock option exercises 1,700 4,408 Payments of dividends (57,156) (54,081)Distribution to noncontrolling interests - (1,323)Borrowings under financing arrangements 130,000 - Payment of contingent consideration and deferred payment of business acquisitions (800) (7,599)Net cash used in financing activities $(72,424) $(203,078)Net decrease in cash and cash equivalents (77,124) (132,252)Cash and cash equivalents at beginning of period 324,999 346,085 Cash and cash equivalents at end of period $247,875 $213,833 AMDOCS LIMITED
Supplementary Information
(In millions) Three months ended December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 North America $764.7 $762.4 $745.4 $738.3 $737.4 Europe 181.7 179.8 189.4 180.7 155.2 Rest of the World 209.5 208.0 209.6 209.2 217.4 Total Revenue $1,155.9 $1,150.2 $1,144.4 $1,128.2 $1,110.1 Three months ended December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Managed Services Revenue $745.9 $748.3 $771.5 $747.1 $728.9 as of December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 12-Month Backlog $4,250 $4,190 $4,150 $4,170 $4,140 SOURCE: Amdocs - IRView the original press release on ACCESS NewswireOriginal: Amdocs Limited Reports First Quarter Fiscal 2026 Results