Banking and financial services software company, Temenos said its revenue for the third quarter of the year rose by 16% compared to its milestone for last year.
Non-IFRS revenue rose to USD186.3 million compared to USD160.6 million disclosed with the same period last year.
Commenting on the results, Temenos CEO David Arnott said:
“This has been another excellent quarter for Temenos. We had great sales momentum globally and our pipeline has seen substantial growth across markets.
Banks are challenged with digital and regulatory pressures which is driving our market growth. We have continued to take market share and are pulling further ahead of the competition. In particular I am delighted that in Q4 we announced the signing of Openbank, the digital bank of Santander Group, demonstrating that Temenos is the partner of choice for the world’s largest banks.
The robust levels of tier 1 activity, continued roll out across our customer base and acceleration in our pipeline underpins our confidence in 2018 and the medium term.”
Commenting on the results, Temenos CFO and COO Max Chuard said:
“We have had another very strong quarter, with total software licensing up 23% and EBIT up 19%. We also had outstanding execution in our services business with 29 clients going live on our software and we continue to invest in Sales and Marketing and our product as we see the scale of the market opportunity in front of us.
With the signing of Openbank we have had a strong start to Q4 and have raised our full year guidance to reflect the market momentum and increased revenue visibility. We are now guiding for total software licensing growth of 20% to 22.5% and total revenue growth of 13% to 14.5%.”