Temenos, a Swiss-based banking software company, reported a 15% increase in annual recurring revenue (AAR) in fiscal year 2022. The company also said that total software licenses in North America surged 37% during the same period. This was a “record” for the company’s region and shows the company is making “consistent progress in the US.”
Temenos will report these figures in its provisional fourth quarter on Monday, Fiscal 2022 resultsThe company’s Software-as-a-Service (SaaS) revenue also grew 37% last year. However, the company’s free cash flow fell by 46% during this period, largely due to higher costs.
Temenos explained that it has recorded continued “strong SaaS growth” and real cash value (ACV) from sales to new customers as SaaS is becoming more mainstream than just a migration. Additionally, Temenos believes AAR will grow at least 12% during his 2023 fiscal year on a non-International Financial Reporting Standards (IFRS) basis. The company also expects software licenses to grow at least 6% this year.
In addition, the banking software provider expects similar growth trends in pre-interest and pre-tax earnings and earnings per share during the new fiscal year. We expect the former to grow by at least 7% and the latter by at least 6%. Additionally, the company expects his ACV in 2023 to also increase by 12%, in line with his newly projected AAR.
“The CHF 1.10 dividend proposal for 2023 will be voted on at the AGM on May 3, 2023,” said Temenos. Temporary announcement.
Looking ahead to 2023, Temenos said he expects the sales environment to remain stable this year, even as banks remain cautious. The company also expects demand for SaaS and cloud-based software to continue to grow.
Additionally, Temenos believes that both subscription and SaaS revenue are driven by demand for cloud-based software. That’s the same as the Swiss-headquartered company hoping to get “good pipeline development, including many Tier 1 deals” in the new financial year.
Andreas Andreades, Chairman and Acting CEO of Temenos, added, “We expect 2023 to be a year of growth for Temenos, especially with strong growth in our SaaS business.”
“Our pipeline continues to develop positively, including a number of Tier 1 deals. ‘ added the acting CEO.
Temenos, a Swiss-based banking software company, reported a 15% increase in annual recurring revenue (AAR) in fiscal year 2022. The company also said that total software licenses in North America surged 37% during the same period. This was a “record” for the company’s region and shows the company is making “consistent progress in the US.”
Temenos reported those numbers in its provisional fourth quarter on Monday, Fiscal 2022 resultsThe company’s Software-as-a-Service (SaaS) revenue also grew 37% last year. However, the company’s free cash flow fell by 46% during this period, largely due to higher costs.
Temenos explained that it has recorded continued “strong SaaS growth” and real cash value (ACV) from sales to new customers as SaaS is becoming more mainstream than just a migration. Additionally, Temenos believes AAR will grow at least 12% during his 2023 fiscal year on a non-International Financial Reporting Standards (IFRS) basis. The company also expects software licenses to grow at least 6% this year.
In addition, the banking software provider expects similar growth trends in pre-interest and pre-tax earnings and earnings per share during the new fiscal year. We expect the former to grow by at least 7% and the latter by at least 6%. Additionally, the company expects his ACV in 2023 to also increase by 12%, in line with his newly projected AAR.
“The CHF 1.10 dividend proposal for FY-22 is scheduled to be voted on at the AGM on May 3, 2023,” Temenos said. Temporary announcement.
Looking ahead to 2023, Temenos said he expects the sales environment to remain stable this year, even as banks remain cautious. The company also expects demand for SaaS and cloud-based software to continue to grow.
Additionally, Temenos believes that both subscription and SaaS revenue are driven by demand for cloud-based software. That’s the same as the Swiss-headquartered company hoping to get “good pipeline development, including many Tier 1 deals” in the new financial year.
Andreas Andreades, Chairman and Acting CEO of Temenos, added, “We expect 2023 to be a year of growth for Temenos, especially with strong growth in our SaaS business.”
“Our pipeline continues to develop positively, including a number of Tier 1 deals. ‘ added the acting CEO.
