Business
Concentrix Reports Second Quarter 2025 Results
Exceeds revenue guidance for the quarter and raises full year growth outlookGenerates $200 million in adjusted free cash flow and remains on track to deliver
About this update from Concentrix Corporation
[{"type":"text","content":"Exceeds revenue guidance for the quarter and raises full year growth outlookGenerates $200 million in adjusted free cash flow and remains on track to deliver $625 million to $650 million of adjusted free cash flow for the yearSees ongoing momentum for the Company’s iX Product SuiteExpects to return more than $240 million to shareholders in fiscal 2025 through share repurchases and dividends NEWARK, Calif., June 26, 2025 (GLOBE NEWSWIRE) -- Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, today announced financial results for the fiscal second quarter ended May 31, 2025. Three Months Ended May 31, 2025 May 31, 2024 ChangeRevenue ($M)$2,417.4 $2,380.7 1.5%Operating income ($M)$148.3 $150.2 (1.3)%Non-GAAP operating income ($M) (1)$303.7 $321.1 (5.4)%Operating margin 6.1% 6.3% -20 bpsNon-GAAP operating margin (1) 12.6% 13.5% -90 bpsNet income ($M)$42.1 $66.8 (37.0)%Non-GAAP net income ($M) (1)$179.6 $183.1 (1.9)%Adjusted EBITDA ($M) (1)$357.3 $379.6 (5.9)%Adjusted EBITDA margin (1) 14.8% 15.9% -110 bpsDiluted earnings per common share$0.63 $0.98 (35.7)%Non-GAAP diluted earnings per common share (1)$2.70 $2.69 0.4% (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. Second Quarter Fiscal 2025 Highlights: Revenue of $2,417.4 million, an increase of 1.5% year-on-year on an as reported and constant currency basis compared to revenue of $2,380.7 million in the prior year second quarter.Operating income of $148.3 million, or 6.1% of revenue, compared to $150.2 million, or 6.3% of revenue, in the prior year second quarter.Non-GAAP operating income of $303.7 million, or 12.6% of revenue, compared to $321.1 million, or 13.5% of revenue in the prior year second quarter, a decrease year-on-year primarily due to temporary program pauses mid-quarter and investments ahead of expected accelerated growth in the second half of the year.Adjusted EBITDA of $357.3 million, or 14.8% of revenue, compared with $379.6 million, or 15.9% of revenue in the prior year second quarter.Cash flow provided by operations was $236.5 million in the quarter. Adjusted free cash flow(1) was $200.3 million in the quarter.Diluted earnings per common share (“EPS”) was $0.63 compared to $0.98 in the prior year second quarter....