CI&T : Q2 2026 Earnings Release

About this update from Ci&t Inc

‌CI&T Reports 21.9% Organic Revenue Growth in 2Q26, Driven by Broad-Based Momentum Across Geographies, Industries, and Client Base ‌New York - August 11, 2026 - CI&T (NYSE: CINT, "Company") , an AI deployment company and a global partner in tech-integrated business solutions, today announces its results for the second quarter of 2026 (2Q26) in accordance with International Financial Reporting Standards (IFRS® Accounting Standards), as issued by the IASB. For comparison purposes, we refer to the results for the second quarter of 2025 (2Q25). The numbers are presented in U.S. dollars. ‌ Second quarter of 2026 (2Q26) highlights Revenue of US$142.8 million, an increase of 21.9% compared to US$117.2 million in 2Q25. Revenue growth at constant currency was 14.1% compared to 2Q25. Profit reached US$5.8 million in 2Q26, compared to US$9.7 million in 2Q25. Adjusted EBITDA reached US$19.0 million in 2Q26 compared to US$21.5 million in 2Q25, with an Adjusted EBITDA margin of 13.3% in 2Q26. Adjusted Profit was US$8.7 million in 2Q26 compared to US$12.2 million in 2Q25. Adjusted Profit margin was 6.1% in 2Q26. Diluted earnings per share (EPS) were US$0.05 and Adjusted diluted EPS were US$0.07 in 2Q26. CI&T ended 2Q26 with 8,152 employees, with an average of 6,752 AI-Builders, 11.7% higher year-over-year. Revenue per AI-Builders (1) reached US$80.1 thousand in 2Q26 (LTM basis), an increase of 7.0% compared to US$74.9 thousand in 2Q25. Cesar Gon, Founder and CEO of CI&T, commented: "Our results this quarter reflect the strength and consistency of the AI deployment opportunity in front of us. We delivered record revenue, entirely organic and broad-based across geographies, industries, and clients - our seventh consecutive quarter of double-digit organic growth. Given this momentum, we are raising our full-year revenue guidance for 2026. At the same time, our AI monetization strategy continues to advance as planned, with our new commercial models already expanding gross margin. We see 2026 as a pivotal year to invest in capturing this opportunity at scale, positioning CI&T for durable, high-quality growth in 2027 and beyond. What we are building is a company that scales revenue faster than headcount, and grows more profitable as our new commercial models mature." Comments on the 2Q26 financial performance Revenue reached US$142.8 million in 2Q26, up 21.9% from US$117.2 million in 2Q25 - our seventh consecutive quarter of double-digit organic growth - and 14.1% at constant currency, ahead of our guidance of at least US$140.0 million. Growth was broad-based across our footprint. Every geography expanded: Latin America led with 32.1% growth, New Markets grew 26.3%, and North America added a steady 10.2% year-over-year growth. By industry, Technology and Telecommunications was the fastest-growing vertical at 67.8% year-over-year, followed by Financial Services - our largest vertical - at 36.0%. Life Sciences grew 16.0%, and Retail and Industrial Goods 10.8%. Consumer Goods was the only vertical to decline, down 8.6%. By client cohort, revenue from our top (1) LTM revenue divided by the 12-month average billable headcount (excluding interns) 10 clients grew 19.0%, while revenue from clients outside the top 10 grew 24.1%. The cost of services provided was US$98.4 million in 2Q26, a 23.8% increase from 2Q25, mainly explained by unfavorable foreign exchange rate, and higher personnel expenses, associated with the payroll tax resumption in Brazil and additional billable headcount. Gross profit was US$44.4 million, an 17.8% increase compared to 2Q25. Adjusted gross profit was US$46.2 million in 2Q26, an increase of 15.1% compared to US$40.1 million in 2Q25, reflecting productivity gains that partially offset the foreign exchange headwind. The adjusted gross profit margin was 32.4% in 2Q26, up 1.8 p.p. from 30.6% in 1Q26, reflecting productivity gains and continued adoption of our new commercial models. Selling, general, and administrative (SG&A) and other operating expenses totaled US$32.3 million in 2Q26, a 45.7% increase compared to 2Q25. This reflects a targeted investment in Sales in 2026, including dedicated teams to scale our Agentic SDLC initiative to capture the current acceleration in demand for AI deployment, and a structural expansion of our commercial organization to foster new offerings, practices, and vertical initiatives. The increase also reflects higher amortization expenses associated with our investments in CI&T Flow, our AI management system, as well as higher sales commission expenses. We view 2026 as a transition period toward broader AI deployment and monetization. These investments are central to this transition, positioning us to sustain growth into 2027 and to capture a greater share of the productivity gains and business value generated by AI deployment. Adjusted EBITDA reached US$19.0 million in 2Q26, an 11.8% decrease from US$21.5 million in 2Q25, with an adjusted EBITDA margin of 13.3%. The year-over-year decline was primarily driven by the appreciation of the Brazilian Real against the U.S. dollar, combined with the targeted 2026 investments and structural expansion of our commercial organization described above, as we advance through this transition period toward broader AI deployment and monetization. Net finance costs totaled US$3.1 million in 2Q26, compared to US$1.0 million in 2Q25, primarily driven by unfavorable foreign exchange variation and by lower gains on derivative instruments in the comparable period. Income tax expense was US$3.3 million in 2Q26, a 31.2% decrease from 2Q25, primarily driven by lower profit before income tax. The effective tax rate was 36% in 2Q26. Income taxes paid in the quarter were US$2.3 million, equivalent to a cash tax rate of 25%. Profit was US$5.8 million in 2Q26. Adjusted profit was US$8.7 million, a decrease of 29.2% compared to 2Q25, with an adjusted profit margin of 6.1%. In 2Q26, diluted EPS was US$0.05, a 38.8% decrease from 2Q25. Adjusted diluted EPS were US$0.07, down 26.6% compared to the same period in the prior year. Cash generated from operating activities was US$17.8 million in 6M26. Business Outlook We expect our revenue for the third quarter of 2026 to be at least US$145.7 million, representing a 14.4% increase from US$127.3 million in 3Q25. This reflects 12.3% year-over-year growth at constant currency. For the full year of 2026, we are increasing our revenue guidance. Now, we expect our revenue to be in the range of US$565.5 million to US$577.8 million, implying 15.5% to 18.0% organic revenue growth year-over-year. In addition, we estimate our Adjusted EBITDA margin to be in the range of 15.0% to 17.0%. These estimates assume an average FX rate of 5.17 BRL/USD in 3Q26 and 2026. These expectations are forward-looking statements, and actual results may differ materially. See "Cautionary Statement on Forward-Looking Statements" below. Conference Call Information Cesar Gon (Founder and CEO), Bruno Guicardi (Founder and President for North America and Europe), Stanley Rodrigues (CFO), and Eduardo Galvão (Director of Investor Relations) will host a video conference call to discuss the 2Q26 financial and operating results on August 11, at 4:30 PM Eastern Time / 5:30 PM BRT. The earnings call can be accessed on the Company's Investor Relations website at https://investors.ciandt.com or at the following link: https://youtube.com/live/zD7UWCeZCag?feature=share . About CI&T (NYSE: CINT) Through AI deployment, CI&T helps large enterprises move from AI ambition to measurable business impact, combining business strategy, AI-native execution, and IP-based solutions as the global tech-integrated business solutions partner. With a 30-year track record of helping clients navigate change, the company delivers accelerated outcomes through deep expertise across agentic SDLC, application modernization, data & AI, martech, professional services and business strategy & building. CI&T's proprietary AI system, CI&T FLOW, and its methodology, Lean AI, boost team productivity and ensure fast, efficient, and scalable results. With more than 8,000 AI Builders, CI&T operates across 12 countries and serves 100+ large enterprises and fast-growth clients worldwide. Non-IFRS Financial Measures We regularly monitor certain financial and operating metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. These non-IFRS financial measures include Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Profit, Adjusted Profit Margin, Revenue at Constant Currency, and Adjusted Diluted EPS. They should be considered in addition to results prepared in accordance with IFRS Accounting Standards, but not as substitutes for results under IFRS Accounting Standards. In addition, our calculation of these non-IFRS financial measures may differ from those used by other companies, and therefore, comparability may be limited. These non-IFRS financial measures are provided as additional information to enhance investors' understanding of our operations' historical and current financial performance. CI&T is not providing a quantitative reconciliation of its forward-looking non-IFRS Revenue at Constant Currency and Adjusted EBITDA Margin to the most directly comparable IFRS measure because it cannot reasonably predict the outcome of certain significant items without unreasonable efforts. These items include, but are not limited to, share-based compensation expenses, the tax effect of non-IFRS measures, foreign currency exchange gains/losses, and other items. These items are uncertain, depend on various factors, and could have a material impact on our IFRS-reported results for the guidance period. We calculate Revenue at Constant Currency by translating Revenue from entities reporting in foreign currencies into U.S. dollars using the foreign currency exchange rates from the prior period to show changes in our revenue without giving effect to period-to-period currency fluctuations. In calculating Adjusted Gross Profit, Adjusted EBITDA, Adjusted Profit and Adjusted Diluted EPS we exclude cost components unrelated to the direct management of our services. For the periods presented, the adjustments applied to Adjusted Gross profit were: (i) depreciation and amortization related to the cost of services provided; and (ii) share-based compensation expenses. We calculate Adjusted EBITDA for the periods presented as Profit, plus net finance costs, income tax expense, depreciation and amortization, and share-based compensation expenses. For the periods presented, the adjustments on Adjusted Profit and Adjusted Diluted EPS were: (i) share-based compensation expenses; (ii) acquisition-related expenses: amortization of intangible assets from acquired companies; and (iii) the tax effects of non-IFRS adjustments. Cautionary Statement on Forward-Looking Statements This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact that may be deemed forward-looking statements include, but are not limited to: the statements under Business Outlook, including expectations relating to revenues and other financial or business metrics; statements regarding relationships with clients; and any other statements of expectations or beliefs. The words "believe", "will", "may", "may have", "would", "estimate", "continues", "anticipates", "intends", "plans", "expects", "budget", "scheduled", "forecasts" and similar words are intended to identify estimates and forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from our expectations. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such statements in this press release, including risk related to global economic conditions, clients' demand, and our ability to execute our growth strategy and strategic plans. Additional information about these and other risks and uncertainties is contained in the Risk Factors section of CI&T's annual report on Form 20-F. Additional information will be made available in our Annual Reports on Form 20-F, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we assume no obligation to and do not intend to update these forward-looking statements or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Contacts: Investor Relations Contact: Eduardo Galvão [email protected] Media Relations Contact: Zella Panossian [email protected] Unaudited condensed consolidated statement of profit or loss (In thousands of U.S. dollars) Quarter ended June 30, Six months ended June 30, 2026 2025 2026 2025 Revenue 142,820 117,185 279,428 228,061 Costs of services provided (98,422) (79,498) (195,270) (155,908) Gross profit 44,398 37,687 84,158 72,153 Selling expenses (16,989) (9,444) (28,354) (17,848) General and administrative expenses (16,195) (13,177) (32,102) (25,601) Impairment reversal (loss) on accounts receivable and contract assets 45 (92) 1,271 239 Other income, net 803 526 1,278 768 Operating expenses, net (32,336) (22,187) (57,907) (42,442) Operating profit before net finance costs and income tax expense 12,062 15,500 26,251 29,711 Finance income 5,878 4,730 11,403 9,542 Finance costs (8,928) (5,746) (16,445) (12,302) Net finance costs (3,050) (1,016) (5,042) (2,760) Profit before income tax 9,012 14,484 21,209 26,951 Current (1,059) (1,521) (1,411) (2,832) Deferred (2,203) (3,221) (6,485) (6,930) Total income tax expense (3,262) (4,742) (7,896) (9,762) Profit for the period 5,750 9,742 13,313 17,189 Earnings per share Earnings per share - basic (in US$) 0.05 0.07 0.10 0.13 Earnings per share - diluted (in US$) 0.05 0.07 0.10 0.13 In thousand: Weighted average number of basic shares 126,901 130,855 129,232.04 134,377.61 Weighted average number of diluted shares 127,717 132,479 130,047.29 136,001.38 Unaudited condensed consolidated statement of financial position (In thousands of U.S. dollars) Assets June 30, 2026 December 31, 2025 Liabilities and equity June 30, 2026 December 31, 2025 Cash and cash equivalents 53,431 47,864 Trade and other payables 6,005 5,192 Accounts receivable 88,089 97,288 Loans and borrowings 91,355 66,443 Contract assets 62,109 34,260 Lease liabilities 3,203 3,435 Recoverable taxes 5,555 2,103 Salaries and welfare charges 55,066 58,670 Current income tax assets 9,577 8,068 Accounts payable for business acquired 1,553 1,328 Derivatives 65 190 Derivatives 91 512 Other assets 5,882 6,358 Current income tax liabilities 169 760 Total current assets 224,708 196,131 Other taxes payable 4,266 3,266 Contract liability 5,589 4,021 Other liabilities 3,607 3,291 Recoverable taxes 823 895 Total current liabilities 170,904 146,918 Current income tax assets 4,519 3,959 Deferred tax assets 776 1,648 Judicial deposits 1,956 1,813 Loans and borrowings 44,487 56,185 Restricted cash 626 589 Deferred tax liabilities 33,487 26,427 Other assets 1,034 1,183 Lease liabilities 4,194 4,868 Property and equipment 7,805 7,354 Provisions for tax and labor risks 816 680 Intangible assets and goodwill 336,270 329,348 Accounts payable for business acquired 4,299 3,905 Right-of-use assets 6,848 7,578 Other liabilities 2,430 2,578 Total non-current assets 360,657 354,367 Total non-current liabilities 89,713 94,643 Equity Share capital 7 7 Share premium 182,992 183,395 Treasury share reserve (32,030) (30,016) Capital reserves 21,515 23,180 Retained earnings 151,841 138,528 Other comprehensive income (loss) 423 (6,157) Total equity 324,748 308,937 Total assets 585,365 550,498 Total equity and liabilities 585,365 550,498 Unaudited condensed consolidated statement of cash fiows (In thousands of U.S. dollars) June 30, 2026 June 30, 2025 Cash fiows from operating activities Profit for the period 13,313 17,189 Adjustments for: Depreciation and amortization 11,149 9,002 Loss on sale and write-off of non-financial assets 14 36 Interest and exchange rate changes 4,646 4,570 Unrealized gain on financial instruments (336) (1,386) Income tax expenses 7,896 9,762 Impairment reversal on accounts receivable and contract assets (1,271) (239) Share-based compensation 2,376 2,384 Other 95 20 Changes in operating assets and liabilities Accounts receivable and contract assets (13,166) 869 Recoverable taxes (3,398) 1,280 Trade and other payables 360 (364) Salaries and welfare charges (7,875) (4,454) Contract liabilities 1,507 (5,781) Other receivables and payables, net 2,513 757 Cash generated from operating activities 17,823 33,645 Income tax paid (2,996) (6,704) Interest paid on loans and borrowings (3,912) (5,449) Interest paid on lease (438) (353) Income tax refund 174 127 Net cash from operating activities 10,651 21,266 Cash fiows from investing activities Acquisition of property and equipment and intangible assets (8,504) (6,376) Cash used in investing activities (8,504) (6,376) Cash fiows from financing activities Exercised share-based compensation 515 882 Payment of lease liabilities (2,025) (2,304) Proceeds (outflows) from settlement of derivatives 25 (41) Proceeds from loans and borrowings 24,611 24,722 Payment of loans and borrowings (14,909) (21,177) Payment of installment related to accounts payable for business acquired (71) (758) Repurchase of treasury shares (6,171) (17,592) Net cash from (used in) financing activities 1,975 (16,268) Net increase (decrease) in cash and cash equivalents 4,122 (1,378) Cash and cash equivalents as of January 1 47,864 56,621 Exchange variation effect on cash and cash equivalents 1,445 3,400 Cash and cash equivalents as of June 30 53,431 58,643 Revenue Distribution (In thousands of U.S. dollars) Revenue by Industry (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Financial Services 56,831 41,782 36.0% 108,016 79,029 36.7% Retail and Industrial Goods 26,791 24,169 10.8% 54,736 48,390 13.1% Consumer Goods 22,805 24,954 -8.6% 45,646 47,823 -4.6% Technology and Telecommunications 17,137 10,212 67.8% 33,223 21,600 53.8% Life Sciences 10,973 9,461 16.0% 21,444 18,519 15.8% Other 8,283 6,607 25.4% 16,363 12,700 28.8% Total 142,820 117,185 21.9% 279,428 228,061 22.5% Revenue by Geography (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Latin America 72,017 54,519 32.1% 138,118 104,205 32.5% North America 57,047 51,775 10.2% 114,094 100,834 13.2% New Markets 13,756 10,891 26.3% 27,216 23,022 18.2% Total 142,820 117,185 21.9% 279,428 228,061 22.5% Top Clients (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Top Client 16,730 13,162 27.1% 31,429 24,920 26.1% Top 10 Clients 60,456 50,803 19.0% 115,837 97,156 19.2% Reconciliation of various income statement amounts from IFRS to non-IFRS measures Revenue Growth at Constant Currency 2Q26 2Q25 Reported Revenue Growth 21.9% 8.0% Foreign Exchange Rates Impact -7.8% 4.3% Revenue Growth at Constant Currency 14.1% 12.3% Adjusted Gross Profit (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Revenue 142,820 117,185 21.9% 279,428 228,061 22.5% Cost of Services Provided (98,422) (79,498) 23.8% (195,270) (155,908) 25.2% Gross Profit 44,398 37,687 17.8% 84,158 72,153 16.6% Adįustmєnts Depreciation and amortization (cost of services provided) 1,363 1,513 -9.9% 2,909 3,013 -3.5% Share-based compensation 443 929 -52.3% 947 1,688 -43.9% Adjusted Gross Profit 46,204 40,129 15.1% 88,013 76,854 14.5% Adjusted Gross Profit Margin 32.4% 34.2% -1.9p.p 31.5% 33.7% -2.2p.p Adjusted EBITDA (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Profit for the period 5,750 9,742 -41.0% 13,313 17,189 -22.5% Adįustmєnts Net finance cost 3,050 1,016 200.2% 5,042 2,760 82.7% Income tax expense 3,262 4,742 -31.2% 7,896 9,762 -19.1% Depreciation and amortization 5,591 4,605 21.4% 11,149 9,002 23.9% Share-based compensation 1,329 1,423 -6.6% 2,376 2,384 -0.4% Adjusted EBITDA 18,982 21,527 -11.8% 39,777 41,097 -3.2% Adjusted EBITDA Margin 13.3% 18.4% -5.1p.p 14.2% 18.0% -3.8p.p Adjusted Profit (in USD thousand) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Profit for the period 5,750 9,742 -41.0% 13,313 17,189 -22.5% Adįustmєnts Acquisition-related expenses (1) 2,135 2,038 4.8% 4,237 4,044 4.8% Share-based compensation 1,329 1,423 -6.6% 2,376 2,384 -0.3% Tax effects on non-IFRS adjustments (553) (968) -42.9% (1,056) (1,772) -40.4% Adjusted Profit 8,661 12,235 -29.2% 18,870 21,845 -13.6% Adjusted Profit Margin 6.1% 10.4% -4.4p.p 6.8% 9.6% -2.8p.p Adjusted Diluted EPS (in USD) 2Q26 2Q25 Var. 2Q26 x 2Q25 6M26 6M25 Var. 6M26 x 6M25 Diluted EPS 0.05 0.07 -38.8% 0.10 0.13 -19.0% Adįustmєnts Acquisition-related expenses (1) 0.02 0.02 8.7% 0.03 0.03 9.6% Share-based compensation 0.01 0.01 -3.1% 0.02 0.02 4.2% Tax effects on non-IFRS adjustments (2) 0.00 -0.01 -40.7% -0.01 -0.01 -37.7% Adjusted Diluted EPS 0.07 0.09 -26.6% 0.15 0.16 -9.7% Notes: (1) Adjusted Profit and Adjusted Diluted EPS include amortization of intangible assets from acquired companies totaling (US$2,135) thousand in 2Q26 and (US$2,038) thousand in 2Q25. (2) The calculation of the tax effect on non-IFRS Accounting Standards adjustments considers the nature of the expense, whether it is deductible or not, as well as whether it is a temporary or permanent difference. We also evaluate the tax scenario of each entity, taking into account whether deferred income tax assets would be realizable. Then, we apply the corresponding tax rate for the entity. fl fi fi fi fi fi

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