Amdocs Ltd at Oppenheimer Technology, Internet & Communications Conference (Virtual) Transcript

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

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Anthony, maybe as Head of Strategy, what is -- can you describe what the company does in your mind and what your strategy is to grow the business and how that's evolved over time?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Very, very good. And so you said, I think your basically your focus is on customer experience largely within the communications industry customer experience is how you would define it. And how much of that now do you think is done in-house versus outsourced? And in your experience, how much better is the customer experience if it's outsourced to you guys do you think? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2025 / 5:15PM, DOX.OQ - Amdocs Ltd at Oppenheimer Technology, Internet & Communications Conference (Virtual)

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : That's a great point. So we're basically trying to migrate from legacy, telecom, customer experience systems to more digital cloud-based that are incorporating AI. I guess when you look at the cutting edge of the new systems, like, is there any way to compare and contrast to the old systems in terms of productivity improvements or quality improvements at all?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : A great point. So I mean, key catalyst now is generative AI. I know you've been working on it intensively for a few years, done a bunch of proof of concepts. Are you actually seeing commercial deployments at this point? And are you seeing applications using it?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Great. So you just I think won a very major contract from BT in the UK for digital modernization. Can you talk about how you want that? What will it entail? And how much more better will the company be operating post modernization yet?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : I mean, I got to believe almost every telco's got to be wanting to digitize the business and use AI. I know you've signed quite a few deals. But like why isn't everybody signing these deals? Like what's the bottleneck at this point?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : And I know you have a new SaaS-based platforms for -- if I wanted to set up a virtual mobile company and probably many other products and services. But that almost seems to be -- like if I'm a carrier, do I almost like start over and say, look, I'm probably better off with using Amdocs connectX product, which is virtual cloud-based, SaaS-based, uses AI, and start porting customers onto that instead of trying to support all these REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2025 / 5:15PM, DOX.OQ - Amdocs Ltd at Oppenheimer Technology, Internet & Communications Conference (Virtual) legacy systems. Or does it just happen organically where new startups, or new MVNO, and those are using this and operating so much more efficiently?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : You bring up a good point. I mean, if a musician is popular enough and if you get the phone and they have every song they've ever recorded, or for free, maybe thousands of other songs. But what other additional services are you seeing as -- that people are thinking about with something like a connectX or other bundles? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2025 / 5:15PM, DOX.OQ - Amdocs Ltd at Oppenheimer Technology, Internet & Communications Conference (Virtual)

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : And how important are -- just how important are eSims for this whole new process. And how ubiquitous like are eSims? When they started to be deployed like in the United States and globally eSims? And how how ubiquitous are they now?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Yeah, that's a great point. So I use T-Mobile, so I don't have to -- when I go to a country, I have free roaming generally. And I'm getting most of my over the top television or video content through them also. What are kind of other new offerings that you're seeing? I mean, will I buy my future theater or concert tickets on this new type of MVNO device that may be one of the more popular musicians is sponsoring?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Well, my -- totally, but then my problem is my wife or children will decide to do something. And oftentimes, we have two or three of the same.

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Yeah, it's so incredibly aggravating. So maybe -- so how do you monetize everything kind of going on here? I know you have an outcome-based revenue model for many of your customers and managed services. How does this accelerate growth there? And how do you deploy generate AI internally to also improve your own margins?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : And just to be clear like, so what is your typical managed service? And to be clear, the business model is you charge your customers per a fixed amount based on the number of customers. Or what you think the fixed amount is? And if you can reduce your expenses on that, you get to keep the profit on it. So it incentivizes you to be as efficient as possible. And you're also saving the company money theoretically with the manage services to begin with, but maybe just describe it a little bit more.

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : And what percentage of your revenues now on managed services?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Got it. And what would a typical managed service be? I mean, would it include customer care, billing, provisioning? Could it include like all the services end to end?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : So how are you using Gen AI now internally to improve services, reduce expenses? And are you starting to see real momentum there now? I know you've been working on it for a few years.

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : So Matt, we're down to 3 minutes and I'm probably missed like 5 of the questions I should have asked Anthony. But what is the key one I didn't ask, one or two or key point you'd like to make?

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Yeah. No, I couldn't agree with you anymore. I mean, the story is gen AI is working. It's working for you guys, it's working for your customers. There's a lot of examples of it. Now it's time to implement. I mean, theoretically, this should help move the needle on revenue growth at some point.

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : Great point, guys. I really appreciate the time. We will talk soon. Have a good rest of the summer. I'm glad to see there's no tornadoes behind you there. That was like -- I was like, Anthony, look behind you.

Question: Timothy Horan - Oppenheimer & Co Inc - Analyst : All right, thanks, guys.