Amdocs Ltd at JPMorgan Global Technology, Media and Communications Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan - Analyst : I'll start you off both with sort of a starter question here in terms of investors that are new to Amdocs and maybe for us, can you start with a brief introduction of Amdocs and what the company does, what is the industry that it participates in? Thank you.

Question: Samik Chatterjee - JPMorgan - Analyst : Thank you. So maybe talk about the competitive landscape here a bit when you sort of went through the kind of customers you work with, automatically question comes up is how much of the software stack is, or do the customers potentially want to insource and have their own development programs around versus come to Amdocs versus leverage another external. I know you classified it as you do the mission-critical applications, but do you run into a lot of competitors that probably are not only involved in mission-critical but are doing some of their applications as well for the service provider customer?

Question: Samik Chatterjee - JPMorgan - Analyst : Got it. And you did reference the geographies in which you are strong, including the US and outside, particularly APAC, but can you put some numbers around them like what do you believe your market share is in the US versus maybe some of the other geographies and where do you see opportunity in terms of market share? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 13, 2025 / 7:10PM, DOX.OQ - Amdocs Ltd at JPMorgan Global Technology, Media and Communications Conference

Question: Samik Chatterjee - JPMorgan - Analyst : Okay. Maybe talk about the opportunity that you have with the service providers customers in terms of the way you think about growth being supported by the underlying industry growth. Or maybe the question is more what do you see service provider customers being willing to spend on long-term basis in the product areas that you're offering. You referenced the TAM, but what have we seen that TAM grow at over a long-term period?

Question: Samik Chatterjee - JPMorgan - Analyst : Maybe then you can talk a bit about the amAIz platform, and how do you think it's differentiated from your what your competitors offer?

Question: Samik Chatterjee - JPMorgan - Analyst : Good. So just think about it in sort of how the benefit accrues to a customer, there is cost reduction as a part of the tangible benefit here. But what are you getting in terms of feedback from customers in terms of like revenue synergies or more customer attention? What does that revenue aspect look like in terms of tangible benefit for the customer? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 13, 2025 / 7:10PM, DOX.OQ - Amdocs Ltd at JPMorgan Global Technology, Media and Communications Conference

Question: Samik Chatterjee - JPMorgan - Analyst : Okay, you guided to double-digit growth for cloud and fiscal '25 just help us understand the overall time that you see you have to just cloud specifically and your share in that category and when you think about sort of growth in terms of the -- sort of capabilities there. Like how would you think about growth in GenAI versus network automation versus digital modernization.

Question: Samik Chatterjee - JPMorgan - Analyst : I'll ask you a few questions that are more macro driven, but we've been asking most of our companies, just given the insights you in your seat have with customers, and you're talking to customers daily like how concerned are you that we're going into a more significant slowdown in the macro in the back half, are your customers showing any caution or concerns about that?

Question: Samik Chatterjee - JPMorgan - Analyst : And maybe just one more before we move to some of your earnings, quite a commentary in a slower macro and I know your customers will continue to spend because these are essential billing systems that they need to continue to spend, and then they need to support what they're doing on REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 13, 2025 / 7:10PM, DOX.OQ - Amdocs Ltd at JPMorgan Global Technology, Media and Communications Conference the cloud, but at the same time no business is completely immune to a macro. What have you seen in the past in terms of where are these sort of --

Question: Samik Chatterjee - JPMorgan - Analyst : Going to your backlog, which you referenced, I think the 12-month backlog grew 3.5% on a reported basis at the end of F2Q. Your revenue growth outlook though for fiscal '25 is 1.7% to 3.7% if I get it right.

Question: Samik Chatterjee - JPMorgan - Analyst : And you highlighted a target for 300 basis points of margin expansion in the fiscal year or maybe --

Question: Samik Chatterjee - JPMorgan - Analyst : Yeah. I know you called out there's some one of factors helping the margin expansion this year. But when you think about the long-term drivers, how would you quantify that? Like, what should we expect in terms of more long-term margin expansion for the business?

Question: Samik Chatterjee - JPMorgan - Analyst : Last one. I know you mentioned some acquisitions you've done in the past, but what's the focus for capital allocation now? How much is it going to be about M&A versus, as you said, like so --