Cognizant Technology Solutions Corporation · NASDAQ:CTSH
Cognizant Technology Solutions — Q3 2026 Earnings Presentation
20 slides from Cognizant Technology Solutions's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Financial Results and Highlights
Exhibit 99.3 Third Quarter 2026 Financial Results and Highlights October 29, 2026 © 2026 Cognizant
Slide 2: Forward-looking statements
Forward-looking statements This earnings supplement includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumpt
Slide 3: Results Summary: Q3 2026
Results Summary: Q3 2026 Revenue GAAP and Adjusted Operating Margin1 Increase of 4.6% Y/Y as reported, and an increase of 4.8% Y/Y in constant currency1 2 16.3% $5,664M 16.0% 16.0% $5,415M 15.4% Q3 '25 Q3 '26 Q3 '25 Q3 '26 Q3 '25 Q3 '26 GAAP Operating Margin Adjusted Operating Margin1 Diluted Earnin
Slide 4: Q3 2026 highlights
Q3 2026 highlights Third consecutive quarter 4% trailing twelve months New/Expansion bookings (TTM) bookings growth of double-digit now >60% of mix on revenue growth in 9% growth in TTM of large TTM basis, up >10% points Financial Services versus prior year deal bookings1 GAAP operating margin contr
Slide 5: Full-year 2026 and Q4 2026 Guidance
Full-year 2026 and Q4 2026 Guidance1 2026 Guidance Assumptions ~$22.05B to ~$22.14B Revenue Includes ~150 bps of inorganic contribution 4.5% to 4.9% Y/Y or 4.0% to 4.4% Y/Y CC ~16.1% Adjusted Operating Margin2 30 basis points Y/Y expansion Adjusted effective tax rate2 ~25% Share Count 460M $5.72 to
Slide 6: Revenue, Operating Margin and EPS
Revenue, Operating Margin and EPS $ in millions except per share amounts $5,664 $5,415 $5,413 $5,481 $5,333 $5,245 $5,115 $1.49 $1.39 $1.40 $1.37 $1.35 $1.31 $1.23 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Revenue Adjusted Diluted EPS Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Revenue Y
Slide 7: Revenue Performance: Q3 2026
Revenue Performance: Q3 2026 Segments Geography $ in millions $ in millions Health Sciences Financial Services Europe (1.1%) Y/Y +12.0% Y/Y $1,587 +1.4% Y/Y (0.9%) Y/Y CC $1,767 +12.3% Y/Y CC $1,057 +2.2% Y/Y CC North America +5.7% Y/Y $4,258 +5.8% Y/Y CC $349 Rest of World +1.2% Y/Y $939 Products $
Slide 8: Health Sciences
Health Sciences Revenue Q3 2026 Geography $ in millions $ in millions $1,604 $1,621 $1,571 $1,579 $1,572 $1,587 $1,551 Europe (0.9%) Y/Y +0.2% Y/Y CC North America $228 (0.9%) Y/Y and Y/Y CC $1,319 $40 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Rest of World (7.0%) Y/Y Change in Revenue (7.6%)
Slide 9: Financial Services
Financial Services Revenue Q3 2026 Geography $ in millions $ in millions $1,767 $1,733 $1,644 $1,578 $1,586 Europe $1,547 $1,462 +3.0% Y/Y +3.8% Y/Y CC $340 North America +14.7% Y/Y +14.9% Y/Y CC $1,279 Rest of World $148 +11.3% Y/Y Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 +12.4% Y/Y CC Chan
Slide 10: Products & Resources
Products & Resources Revenue Q3 2026 Geography $ in millions $ in millions $1,383 $1,371 $1,306 $1,318 $1,321 $1,322 $1,278 Europe (0.3%) Y/Y +0.2% Y/Y CC $322 North America $961 (1.7%) Y/Y and Y/Y CC $88 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Rest of World +7.3% Y/Y +6.2% Y/Y CC Change in
Slide 11: Communications, Media & Technology
Communications, Media & Technology Revenue Q3 2026 Geography $ in millions $ in millions $939 $869 $854 Europe $841 $850 $804 $808 +5.0% Y/Y +5.8% Y/Y CC $167 North America +15.7% Y/Y and $699 Y/Y CC Rest of World $73 (16.1%) Y/Y Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 (15.6%) Y/Y CC Change
Slide 12: Trailing Twelve Month Bookings
Trailing Twelve Month Bookings1 $ in billions $29.6 $29.1 $28.4 $28.7 $27.5 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Trailing twelve month bookings of $28.7 billion increased 4% year-over-year and represented a book-to-bill of 1.3x Q3 2026 bookings decreased 7% year-over-year 1 See “About Non-GAAP Financi
Slide 13: Employee Metrics
Employee Metrics Headcount in thousands 349.8 351.6 357.6 356.7 359.9 336.3 343.8 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Additional Employee Metrics Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Trailing 12-Month Voluntary Attrition - Tech Services 12.0% 12.6% 12.6% 12.3% 12.3% 13.0% 12
Slide 14: Cash Flow, Balance Sheet & Capital Allocation
Cash Flow, Balance Sheet & Capital Allocation Annual Quarterly $ in millions $ in millions $2,215 Share $1,163 Repurchases $605 $444 Acquisitions $1,615 $1,378 $1,313 $730 $604 Dividends $463 $338 $270 $600 $610 $616 $151 $151 $159 $157 $149 FY 2024 FY 2025 Trailing 12 Months Q3 '25 Q4 '25 Q1 '26 Q2
Slide 15: Appendix: About Non-GAAP Financial Measures and Performance Metrics
APPENDIX: About Non-GAAP Financial Measures and Performance Metrics
Slide 16: About Non-GAAP Financial Measures and Performance Metrics
About Non-GAAP Financial Measures and Performance Metrics Non-GAAP Financial Measures To supplement our financial results presented in accordance with GAAP, this earnings supplement includes references to the following measures defined by the Securities and Exchange Commission as non-GAAP financial
Slide 17: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures (in millions, except per share amounts) Three Months Ended: Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Guidance Full Year 2025 2025 2025 2025 2026 2026 2026 2026(1) GAAP income from operations $ 853 $ 817 $ 866 $ 853 $ 843 $ 874 $ 872 Proje
Slide 18: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures Notes: (a) Project Leap charges for the three months ended September 30, 2026 were $51 million and included $46 million of employee separation costs and $5 million of other costs. During the third quarter of 2026, we revised our estimates related to Pro
Slide 19: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures (e) Presented below are the tax impacts of our non-GAAP adjustments to pre-tax income: 2025 2026 Three months ended: Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 Non-GAAP income tax benefit (expense) related to: Project Leap charges $ — $ — $ — $ —
Slide 20: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures Reconciliation of free cash flow Three Months Ended (in millions) Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Sep 30, 2026 Net cash provided by operating activities $ 400 $ 398 $ 1,227 $ 858 $ 274 $ 558 $ 1,004 Purchase
Cognizant Technology Solutions — Q3 2026 Earnings Presentation on 6ix