Temenos announces strong Q1-26 results; FY-26 guidance reconfirmed

GRAND-LANCY, Switzerland, April 21^st, 2026 – Temenos AG (SIX: TEMN), a global leader in banking technology, today announces its first quarter 2026 results.

Commenting on the results, Temenos CEO and interim Chief Financial Officer, Takis Spiliopoulos said: 

“Temenos delivered a strong first quarter, with product revenue growth of 14% and ARR growth of 13%, continuing the momentum we built through 2025 and reflecting the early benefits from strategic investments in product, technology and go-to-market.

We saw good traction across geographies and client segments. Tier 1 wins in Japan and APAC, alongside expansion of relationships with banks in the Middle East, Switzerland and the UK, further demonstrates that we are making good progress against our strategy. In the US, we are making good progress on several deals in our pipeline and we expect to announce further signings this year, and we continue to roll out our AI strategy at pace across the organization.

I am also delighted to announce the appointment of Daniel Schmucki as CFO of Temenos, joining us from August 3^rd, 2026. Daniel brings extensive financial and operating experience, most recently as CFO of SIX Group. He has a proven track record in developing and leading high performance teams in global and multicultural environments, and I am confident he will be a strong partner for the business and enable us to accelerate the delivery of our strategic roadmap.

We enter the rest of the year with reconfirmed FY-26 guidance and FY-28 targets, a growing pipeline, and a well-funded investment plan. Our product roadmap is on track, with targeted announcements this quarter. The strategy we laid out at the 2026 February Capital Markets Day is being executed with discipline, and I am confident in our ability to deliver on our vision of Leading Banking Forward.”

Annual Recurring Revenue (ARR)

Income statement and free cash flow

Note: Proforma excludes Multifonds in previous quarters. The sale of Multifonds was completed in Q2-25. The definition of non-IFRS adjustments is provided below. *Constant currency (c.c.) adjusts prior year for movements in currencies

Business update

• Strong Q1-26 performance across all key metrics, product revenue continues to grow above market
• Sales environment remained stable
• Good traction with existing customers and new logos across tiers
• Momentum in US with several deals progressing through the pipeline and expected to sign this year
• Continued strong growth in premium maintenance signings
• Continued investment across the business to deliver strategic roadmap with selective senior hirings
• CFO appointment announced, with Daniel Schmucki joining August 3^rd, 2026, bringing strong financial and operational experience, most recently as CFO of the SIX Group AG
• Operational leverage driving profitability, with growth in cost base from investments in FY-25 offset by strong revenue growth
• FY-26 guidance and FY-28 targets reconfirmed

Revenue

Non-IFRS revenue was USD 253.0m for the quarter, an increase of 15% vs. Q1-25 (proforma excluding Multifonds).

Reported IFRS revenue was USD 253.0m for the quarter, an increase of 9% vs. Q1-25.

Non-IFRS subscription and SaaS revenue for the quarter was USD 87.2m, an increase of 14% vs. Q1-25 (proforma excluding Multifonds).

Reported IFRS subscription and SaaS revenue for the quarter was USD 87.2m, an increase of 9% vs. Q1-25.

 EBIT

Reported non-IFRS EBIT was USD 82.7m for the quarter, an increase of 19% vs. Q1-25 (proforma, excluding Multifonds).

Reported IFRS EBIT was USD 56.6m for the quarter, an increase of 41% vs. Q1-25.

 Earnings per share (EPS)

Non-IFRS EPS was USD 0.90 for the quarter, an increase of 20% vs. Q1-25 (proforma, excluding Multifonds).

Reported IFRS EPS was USD 0.58 for the quarter, an increase of 45% vs. Q1-25.

 Cash flow

USD 59.5m of free cash flow was generated in the quarter, an increase of 22% vs. Q1-25 (proforma, excluding Multifonds).

  FY-26 non-IFRS guidance

Temenos reconfirms its FY-26 guidance. The guidance for FY-26 is organic, non-IFRS, in constant currencies, except for EPS and FCF which are reported. Growth rates are versus FY-25 proforma (excluding Multifonds).

• ARR growth of c.12% c.c.
• Subscription and SaaS growth of c.9% c.c.
• EBIT growth of c.9% c.c.
• EPS growth of c.7% reported
• FCF growth of c.16% reported

FY-26 guidance includes a negative headwind on growth from the termination of one BNPL client in FY-25. There is no further headwind from this termination after FY-26. The impact is as follows:

• 3% pts on ARR
• 5% pts on subscription & SaaS
• 4% pts on EBIT and EPS

Currency assumptions for FY-26 guidance

In preparing the FY-26 guidance, the Company has assumed the following:

• EUR to USD exchange rate of 1.15;
• GBP to USD exchange rate of 1.33; and
• USD to CHF exchange rate of 0.79

The Company has also assumed the following for FY-26 guidance:

• FY-26 tax rate expected to be between 19-21%

 FY-28 targets

Temenos reconfirms its FY-28 targets. These targets are organic and non-IFRS.

• ARR of at least USD 1.23bn
• EBIT of c.USD 480m
• FCF of c.USD 410m

 The guidance provided above and other statements about Temenos’ expectations, plans and prospects in this press release constitute forward-looking financial information and represent the Company’s current view and estimates as of April 21^st, 2026. We anticipate that subsequent events and developments may cause the Company’s guidance and estimates to change. Future events are inherently difficult to predict. Accordingly, actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors. More information about factors that potentially could affect the Company’s financial results is included in its annual report available on the Company’s website.

 Conference call and webcast

At 18.30 CET / 17.30 BST / 12.30 EST today, April 21^st, 2026, Takis Spiliopoulos, CEO and interim CFO, will host a webcast to present the results and offer an update on the business outlook. The webcast can be accessed through the following link:

Q1 2026 webcast link

Please use the webcast in the first instance to avoid delays in joining the call. For those who cannot access the webcast, the following dial-in details can be used as an alternative. Please dial in 15 minutes before the call commences.

Switzerland / Europe: + 41 (0) 58 310 50 00

United Kingdom: + 44 (0) 207 107 06 13

United States: + 1 (1) 631 570 56 13

Non-IFRS financial information

Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies. The Company’s non-IFRS figures exclude share-based payments and related social charges costs, any deferred revenue write-down resulting from acquisitions, discontinued activities that do not qualify as such under IFRS, gain/loss from business disposals, acquisition/investment/carve out related charges such as financing costs, advisory fees and integration costs and fair value changes on investments, charges as a result of the amortization of acquired intangibles, costs incurred in connection with a restructuring program or other organizational transformation activities planned and controlled by management, and adjustments made to reflect the associated tax charge relating to the above items.

Below are the accounting elements not included in the FY-26 non-IFRS guidance, which remain unchanged

• FY-26 estimated share-based payments and related social charges of c.5% of revenue
• FY-26 estimated amortisation of acquired intangibles of USD 40m
• FY-26 estimated restructuring/M&A related costs of USD 10m