Business
Conduent Achieves Record Quarter of Year-over-Year Revenue Growth and New Business Signings
Key Q2 2021 Highlights Revenue: $1,026M; up 1.0% Yr/YrAdj. EBITDA Margin(1): 12.5%; up 170 bps Yr/YrStrong financial performance achieving significant
About this update from Conduent Incorporated
[{"type":"text","content":"Key Q2 2021 Highlights Revenue: $1,026M; up 1.0% Yr/YrAdj. EBITDA Margin(1): 12.5%; up 170 bps Yr/YrStrong financial performance achieving significant milestones, including Yr/Yr revenue growth and record new business signingsContinued new business growth: Q2 2021 Total Contract Value (TCV) new business signings of $775M, an increase of 24% vs Q2 2020Q2 2021 Annual Recurring Revenue (ARR) signings of $115M, an increase of 10% vs Q2 2020 FLORHAM PARK, N.J., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its second quarter 2021 financial results. Cliff Skelton, Conduent President and CEO, stated, “We are very proud of our continued momentum and our record results this quarter. Our year-over-year revenue growth and record new business signings strongly suggest that we are winning in the marketplace. This marks a significant milestone demonstrating the first quarter of revenue growth since becoming Conduent. We continue to focus on enabling our clients’ success and they are demonstrating their confidence by rewarding us with new business. Our client partnerships, along with our strong attention to operational efficiency, technology, and high-quality service delivery, continue to drive our performance. I’d like to thank our team for their continued strong execution which we believe will continue to position us for more success in the future.” Key Financial Q2 2021 Results ($ in millions, except margin and per share data)Q2 2021Q2 2020CurrentQuarter Y/YB/(W)Revenue$1,026$1,0161.0%GAAP net income (loss) from Continuing Operations12(51)123.5%Adjusted EBITDA(1)12811016.4%Adjusted EBITDA Margin (1)12.5%10.8%170 bpsGAAP Pre-tax Income19(64)129.7%GAAP Diluted EPS from Continuing Operations$0.04$(0.25)116.0%Adjusted Diluted EPS from Continuing Operations(1)$0.20$0.1266.7%Cash from Operations1057441.9%Adjusted Free Cash Flow(2)623863.2% Q2 2021 Performance CommentaryRevenue for Q2 2021 compared with Q2 2020 was 1.0% higher primarily due to increased volumes in our Government Payments and Transportation segments and new business ramp, partially offset by lost business from prior years. Q2 2021 delivered strong sales performance with $775M in new business TCV signings, fueled by strong add-on revenue in Government Healthcare and a large Highways England deal in Trans...