Executing with clarity and consistency

I am proud of the progress we made this year and of the way our teams came together with a shared purpose and vision to execute on our roadmap.

Dear shareholders,
2025 was a year of focused and disciplined execution for Temenos. Stepping into the CEO role, my priority was to ensure that our strategic ambitions translate into predictable, tangible outcomes operationally, financially and for our customers. I am proud of the progress we made this year and of the way our teams came together with a shared purpose to execute on our roadmap.

We have a clear vision as a business: Leading Banking Forward, helping banks modernize with confidence, scale and flexibility, so they can best serve their customers, people and communities. We delivered above-market growth in the first year of our strategic plan, continued to take market share, and built a strong foundation for our future growth and for delivering on that vision.

When I stepped into the role of CEO, we reconfirmed the strategic roadmap that was announced in November 2024, which was shaped through a comprehensive strategic review with our Executive Committee and validated by the Board. Our strategy focuses on three growth levers: strengthening our best‑of‑suite leadership, advancing our modular core for Tier 1 and Tier 2 banks, and accelerating adjacent point solutions where we see growing demand. These priorities define how we invest, execute and measure our progress. Throughout 2025, our teams executed consistently against these priorities, as demonstrated by our strong quarterly and full year results.

Strengthening the foundations for long‑term growth

Temenos operates in a large, stable market with resilient growth, driven by structural forces that continue to accelerate. Banks remain under pressure to modernize their technology platforms while managing rising regulatory complexity, higher operating costs and intensifying competition from digital‑native players. As a result, buying behavior has continued to shift toward platforms that offer flexibility, reliability, rapid deployment, and a clear path to long‑term efficiency gains. In this context, we have strengthened our focus on value selling, working closely with our clients to build tangible business cases that demonstrate the real-world value banks can achieve with our platform.
Institutions are prioritizing investments that reduce complexity, consolidate vendors, and deliver measurable operational outcomes. We saw increasing preference for cloud‑based architectures and modular solutions that allow banks to progress transformation in manageable steps rather than through large‑scale replacements. This aligns well with our portfolio and with how we have structured our product and investment roadmap. Banks are looking for partners which can combine deep functionality with predictable delivery, and our focus on execution, transparency and a simplified operating model means we are well positioned to meet these expectations.

Delivering stable and predictable performance

2025 was characterized by focused and predictable execution, in particular over the last three quarters, and this was reflected in our strong full year results. I was particularly pleased with our ARR momentum, reflecting the continued shift toward a recurring revenue model and the relevance of our portfolio to the needs of financial institutions globally.

Our sales execution was a particular focus, supported by investments in our go‑to‑market organization, with significant new sales hiring and investment in sales enablement. Engagement across our client base increased, and we saw the quality of our pipeline continue to improve, in particular in the US which is a key growth market for Temenos. These are critical leading indicators of sustained growth, and they reflect the hard work of our product and sales teams.

Driving innovation through disciplined execution of our strategic roadmap

Across the Company we emphasized alignment, simplicity and accountability. The collaboration between product and technology, go‑to‑market and corporate functions improved significantly, enabling us to progress faster and with greater cohesion.

We continued to make significant investments in our product organization and roadmap to deliver innovation for our clients. This included launching our first AI agents which we co-developed with clients, leveraging our combination of deep domain expertise and customer trust to build credible use cases that bring material benefits to our clients. We have a structural advantage in the AI era which we are capitalizing on to further extend our market leadership.

We also focused on modernizing our operating model, investing in process improvement, systems automation and data‑driven decision making. These changes are essential to sustaining growth while creating an organization that is lean, agile and accountable.

A unified leadership team

This was also a year of transition, and I would like to thank our Board for their trust and support, particularly through the leadership changes in the third quarter. I am proud of the executive team we now have in place which is highly experienced, aligned and focused on operational excellence. Our leadership team is committed to continuing to strengthen Temenos’ culture of execution, accountability and customer‑centricity.

Our focus on people and culture

Our success is powered by our people. A people-first culture built on collaboration, empowerment, accountability and trust remains central to how we lead and how we operate. We invested time in engaging with our people, through small group conversations, feedback sessions and our employee engagement survey, because meaningful progress starts with open dialogue. We continued to recognize and celebrate the teams and individuals who exemplify our values, and we focused on strengthening cross-team collaboration, ensuring decisions are joined up and aligned to what is best for Temenos. I believe that when our people have clarity, autonomy and the right support, they deliver exceptional outcomes for our clients and for each other.

Looking ahead

We started 2026 with a strong foundation for success. Our strategy is clear, the organization is aligned, and we are already benefiting from the investments we made in 2025. The opportunity ahead is significant. We will continue to execute with discipline, invest where it matters most, and stay focused on delivering long‑term value for our shareholders, customers and employees.

Finally, I want to thank our people. Their resilience, commitment and belief in our direction have been instrumental to our progress. I am grateful for their dedication, and I am proud to lead this organization forward.