Business
Concentrix Reports First Quarter 2025 Results
Exceeds first quarter revenue and profit guidanceReiterates full year guidance and remains on track to generate approximately $625 million to $650 million of
About this update from Concentrix Corporation
[{"type":"text","content":"Exceeds first quarter revenue and profit guidanceReiterates full year guidance and remains on track to generate approximately $625 million to $650 million of adjusted free cash flow for the yearExpects to return more than $240 million to shareholders in fiscal 2025 through share repurchases and dividendsOngoing momentum and demand for iX Hello™ AI products NEWARK, Calif., March 26, 2025 (GLOBE NEWSWIRE) -- Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, today announced financial results for the fiscal first quarter ended February 28, 2025. Three Months Ended February 28, 2025 February 29, 2024 ChangeRevenue ($M)$2,372.2 $2,402.7 (1.3)%Operating income ($M)$168.9 $148.4 13.8%Non-GAAP operating income ($M) (1)$321.5 $319.1 0.8%Operating margin 7.1% 6.2% 90 bpsNon-GAAP operating margin (1) 13.6% 13.3% 30 bpsNet income ($M)$70.3 $52.1 34.9%Non-GAAP net income ($M) (1)$188.1 $175.7 7.1%Adjusted EBITDA ($M) (1)$374.2 $384.3 (2.6)%Adjusted EBITDA margin (1) 15.8% 16.0% -20 bpsDiluted earnings per common share$1.04 $0.76 36.8%Non-GAAP diluted earnings per common share (1)$2.79 $2.57 8.6% (1) See non-GAAP reconciliations included in the accompanying financial tables for the reconciliation of each non-GAAP measure to its most directly comparable GAAP measure. First Quarter Fiscal 2025 Highlights: Revenue of $2,372.2 million, a decrease of 1.3% year-on-year as reported compared to revenue of $2,402.7 million in the prior year first quarter. The Company grew revenue 1.3% year-on-year on a constant currency basis.Operating income of $168.9 million, or 7.1% of revenue, compared to $148.4 million, or 6.2% of revenue, in the prior year first quarter.Non-GAAP operating income of $321.5 million, or 13.6% of revenue, compared to $319.1 million, or 13.3% of revenue in the prior year first quarter.Adjusted EBITDA of $374.2 million, or 15.8% of revenue, compared with $384.3 million, or 16.0% of revenue in the prior year first quarter.Cash flow provided by operations was $1.4 million in the quarter. Adjusted free cash flow(1) was a use of $39.8 million in the quarter.Diluted earnings per common share (“EPS”) was $1.04 compared to $0.76 in the prior year first quarter.Non-GAAP diluted EPS was $2.79 compared to $2.57 in the prior year first quarter. “Our first quarter results demonstrate our progress as we win quality bus...