Monitor the sustainability of License Support revenue growth and the company's ability to reverse the declining trend in new business bookings. The stock may face pressure due to the negative 2026 revenue outlook despite improved profitability.
Price Chart
Executive Summary
Unisys reported mixed results for 2025: strong Q4 revenue growth of 5.3% and improved profitability, but full-year revenue declined 2.9%. The company exceeded non-GAAP operating margin guidance, driven by strong License Support revenue, but issued bearish 2026 guidance forecasting revenue to decline another 4.5% to 6.5%.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $574.5 million, up 5.3% YoY, driven by timing of software license renewals
- Full-year 2025 revenue was $1.95 billion, down 2.9% YoY, with Ex-LS revenue down 3.5%
- Non-GAAP operating profit margin improved to 9.1% in 2025, exceeding guidance
- 2026 revenue guidance forecasts a decline of 4.5% to 6.5% in constant currency
- Backlog increased to $3.16 billion, driven by Ex-LS renewals, but new business TCV fell 38% YoY
Financial Impact
Revenue expected to decline by $87.8M to $120.5M in 2026 based on guidance, with non-GAAP operating margin maintained at 9.0-11.0%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| DWS | $508.40 | -2.9% |
| CAI | $732.80 | -4.1% |
| ECS | $628.90 | +0.2% |
Risk Factors
- Continued decline in core business (Ex-LS) revenue
- Over-reliance on timing of software license renewals for growth
- Elongated sales cycles impacting new business bookings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000746838-26-000003 |
| Document: uis-20260224.htm | 0000746838-26-000003 |
| Document: 0000746838-26-000003-index-headers.html | 0000746838-26-000003 |
| Document: 0000746838-26-000003-index.html | 0000746838-26-000003 |
| Document: 0000746838-26-000003.txt | 0000746838-26-000003 |
| CONTEXT: Previous Earnings (2026-02-24) | 0000746838-26-000003 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 5w ago | Press Release | $2.48 | awaiting T+60 | — | $2.62 (+5.65%) |
Jul 8, 2026 15w ago | Press Release | $3.56 $2.31 | ▼ −35.11% | ▼ −37.42% | $2.62 (−26.40%) |
Jun 2, 2026 20w ago | 8-K | $4.62 $2.61 | ▼ −43.51% | ▼ −44.62% | $2.62 (−43.29%) |
May 19, 2026 22w ago | Insider Cluster | $2.97 $2.86 | ▼ −3.70% | ▼ −8.71% | $2.62 (−11.78%) |
May 5, 2026 24w ago | 8-K | $3.27 $2.87 | ▼ −12.23% | ▼ −14.29% | $2.62 (−19.88%) |
May 4, 2026 25w ago | 8-K | $2.84 $3.15 | ▲ +10.92% | ▲ +8.18% | $2.62 (−7.75%) |
Mar 16, 2026 32w ago | DEFA14A | $2.31 $3.83 | ▲ +65.80% | ▲ +55.94% | $2.62 (+13.42%) |
Feb 24, 2026 34w ago | 8-K | $2.46 $2.97 | ▼ −20.73% | ▼ −13.78% | $2.62 (−6.50%) |
US Market Status
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