Temenos AG (OTCPK:TMNSF) Q3 2024 Earnings Conference Call October 23, 2024 12:30 PM ET
Corporate Participants
Jean-Pierre Brulard – Chief Executive Officer
Takis Spiliopoulos – Chief Financial Officer
Conference Call Participants
Chandra Sriraman – Stifel
Frederic Boulan – Bank of America
Toby Ogg – JPMorgan
Sven Merkt – Barclays
Laurent Daure – Kepler Cheuvreux
Adam Wood – Morgan Stanley
Knut Woller – Baader Bank
Justin Forsythe – UBS
Operator
Ladies and gentlemen, welcome to the Temenos Q3 2024 Results Conference Call and Live Webcast. I would like to remind you that all participants will be in listen only mode and the conference is being recorded. The presentation will be followed by a Q&A session.
[Operator Instructions]. The conference must not be recorded for publication or broadcast.
At this time, it’s my pleasure to hand over to Jean-Pierre Brulard, CEO. Please go ahead.
Jean-Pierre Brulard
Thank you, operator. And good evening, good afternoon. Thank you all for joining us today for our Q3 2024 results call.
And I would like to first talk through our key performance and operation highlights for the quarter before handing over to Takis. So, starting with the highlight of Q3, I was pleased that we saw continued engagement from customers for the quarter. Sales cycles already normalized in Q2 and the sales environment was stable across all our regions.
We saw strong demand from our install base in Q3, as well as signing a good number of new clients. However, we did have some sales execution issue in our Middle East Africa region, which resulted in total software licensing of revenue of $96 million, a bit below consensus expectation. We have carried out a deep review of our sales pipeline and addressed the sales leadership issue with our CRO stepping into support the Middle East African region through Q4, as we look to strengthen
