BRUSSELS (dpa-AFX) - Banking software provider Temenos AG (TMNSF.PK, TEMN.SW) on Wednesday reported a drop in profit for the second quarter, hurt largely by weaker subscription and SaaS revenue caused by the timing of several large customer deals. The company reaffirmed its full-year 2026 guidance.
Second-quarter profit was $67.2 million or $1.00 per share, compared to $164.7 million or $2.32 per share last year.
For the second quarter, annual recurring revenue (ARR) increased 11% in constant currency to $880.6 million. Revenue dropped to $281.5 million from $285.5 million last year.
Subscription and SaaS revenue declined 13% to $109.0 million after several large deals, primarily in Europe, slipped into the third quarter. The company said most of those contracts have already been signed in the first three weeks of third quarter, supporting guidance for subscription and SaaS revenue growth of at least 30% in the third quarter.
Temenos reaffirmed its full-year guidance, including approximately 12% ARR growth, 9% subscription and SaaS growth, 9% EBIT growth, 7% earnings per share growth and 16% free cash flow growth.
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