Business
Conduent Announces Fourth Quarter and Full Year 2021 Financial Results
Key Q4 and Full Year 2021 Highlights Revenue: Q4 $1,048M / FY $4,140MAdj. EBITDA Margin(1): Q4 10.9% / FY 11.8%Annual Recurring Revenue (ARR) signings: Q4
About this update from Conduent Incorporated
[{"type":"text","content":"Key Q4 and Full Year 2021 Highlights Revenue: Q4 $1,048M / FY $4,140MAdj. EBITDA Margin(1): Q4 10.9% / FY 11.8%Annual Recurring Revenue (ARR) signings: Q4 $111M / FY $408MTotal Contract Value (TCV) new business signings: Q4 $310M / FY $1,785MNet ARR Activity Metric(2) (TTM): Q4 $128M FLORHAM PARK, N.J., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its fourth quarter and full year 2021 financial results. Cliff Skelton, Conduent President and CEO stated, “In 2021, we met or exceeded our commitments. We focused on execution, efficiency, driving improved client and end-user experiences and received recognition for our culture, technology-enabled solutions and overall delivery excellence. Our client satisfaction ratings have increased for the third consecutive year, contributing to new client wins and better retention which in turn, resulted in the Net ARR Activity metric being positive for the fifth consecutive quarter. With respect to 2022 and beyond, we look forward to outrunning the one-time government stimulus volumes that benefited 2021, and demonstrating growth. I'd like to thank our dedicated team for their continued strong execution in 2021.” Key Financial Q4 & Full Year 2021 Results ($ in millions, except margin and per share data)Q4 2021Q4 2020Current Quarter Y/Y B/(W)FY 21FY 20FY Y/Y B/(W)Revenue$1,048$1,055(0.7)%$4,140$4,163(0.6)%GAAP net income (loss) from Continuing Operations(40)(11)(263.6)%(28)(118)76.3%Adjusted EBITDA(1)114133(14.3)%4874801.5%Adjusted EBITDA Margin (1)10.9%12.6%(170) bps11.8%11.5%30 bpsGAAP Pre-tax Income(54)(11)(390.9)%(25)(139)82.0%GAAP Diluted EPS from Continuing Operations$(0.20)$(0.07)(185.7)%$(0.18)$(0.61)70.5%Adjusted Diluted EPS from Continuing Operations(1)$0.13$0.20(35.0)%$0.67$0.628.1%Cash from Operations85172(50.6)%24316150.9%Adjusted Free Cash Flow(1)37128(71.1)%89134(33.6)% Q4 and Full Year 2021 Performance CommentaryFull year 2021 revenue of $4,140M was substantially unchanged versus prior year, benefiting from strong non-recurring stimulus payments volume in our Government Services business and new business ramp across all segments, offset by lost business from prior years. Both Government and Transportation revenues grew in 2021 versus prior year, with Commercial revenue trends continuing to improve in ...