Temenos reports third-quarter revenue growth

Geneva-based banking software provider Temenos reported a 13% year-on-year increase in non-IFRS revenue for the third quarter, reaching $292.8 million. Software revenue grew by 23% to $121.8 million, while maintenance and services revenue rose by 7% to $134.7 million and $36.2 million, respectively.

Operating profit (EBIT) increased by 29% to $109.3 million, resulting in a margin of 37.3%. Earnings per share rose to $1.23, up from $0.93 in the same period last year. While revenue fell slightly short of analyst expectations, the EBIT and margin exceeded consensus forecasts.

Interim CEO Takis Spiliopoulos noted strong performance in Europe and the Middle East, citing significant contracts with a leading international bank and several new clients. The company also reported progress in North America, including new SaaS contracts in the United States and Canada, as well as a major contract in Africa.