Concentrix Corporation

CNXC

US20602D1019

Business Support Services

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Mar. 27	Concentrix Corporation Announces Board Appointments	CI
Mar. 26	BofA Adjusts Price Target on Concentrix to $32 From $47, Maintains Neutral Rating	MT

Concentrix : First Quarter 2026 Q1 2026 Earnings Summary Presentation

Published on 03/24/2026 at 07:37 am EDT

Publicnow

CONCENTRIX CORPORATION

-0.34%

Q1 2026 Investor Summary

March 24, 2026

Who we are

Leader in intelligent business transformation solutions that power a world that works Trusted partner to thousands of global brands across sectors

Differentiated value-driven, AI solutions

Growing, profitable business model with strong cash generation

Proven leadership team with a history of disciplined capital allocation and value creation

$9.8B

2025 Revenue(1)

15.8%

Three-year CAGR(2)

12.8%

NGOI(1)

$626M

Adj. Free Cash Flow(1)

2,000+

Clients

160+

Fortune Global 500 clients(3)

~16 years

Average tenure of top 25 clients

70+

Countries

Continents

300+

Patents, IP & Proprietary AI Technology

Notes: (1) represents FY 2025 results as reported on January 13, 2026; (2) represents total revenue CAGR between 2022 and 2025 inclusive of acquisitions. Please see appendix for details and reconciliations of non-GAAP metrics to the most comparable GAAP metric; (3) Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license.

What we do

The intelligent transformation partner.

We power a world that works,

by shaping companies that are refreshingly

simple to work, interact and transact with.

Design.

We design fully integrated solutions, combining innovative thinking, data-driven insights, and sector expertise.

Build.

We build and integrate technology solutions and the infrastructure that powers them.

Run.

We run operations as an extension of our clients' brands - powered by operational excellence and cutting-edge automation.

Our services

Strategy & Design

Data & Analytics

Enterprise Technology

Digital Operations

Transforming experiences with human-centered design and tech-enabled innovation

Business Transformation Experience Design Digital Innovation Lifecycle Engagement

Harnessing data and AI to power transformation, optimization, and innovation throughout the enterprise

Data & Analytics Transformation Data Annotation/Engineering AI Readiness

Advanced Analytics Enterprise Intelligence Operational Insights Industry & Domain Solutions

Engineering, modernizing, and integrating technologies for enhanced efficiency and next-gen experiences, powered by AI

Technology Transformation Application Services Enterprise Automation Experience Platforms Testing Services

A broad portfolio of services that harness data, advanced technology and operational

excellence to transform our clients' experiences across the enterprise

CX Technology Generative AI Cybersecurity

Combining expert knowledge, cutting-edge technologies, and distinct operating models, using the best of human and AI capabilities, to solve business challenges

Marketing

B2B Sales Customer Service Trust & Safety

Finance & Compliance

Who we serve

Attractive industry mix*

Other

Partnering with leading brands globally

Healthcare 9%

BFSI

Tech & consumer electronics 27%

4 of the

Top 5

Most valuable companies(1)

2 of the

8 of the

Top 10

Tech and consumer electronics companies

5 of the

3 of the

Top 5

Global healthcare companies

8 of the

16%

Retail, travel & ecom 25%

Diverse client base*

Media & comms 16%

Top 5

Retail and e-commerce

companies

8 of the

Top 10

European banks

Top 5

US health insurance

companies

10 of the

Top 10

Global automotive

companies

Top 10

Fintech companies

7 of the

Top 10

US banks

Remaining clients 43%

Top 26-50

13%

Top 5

20%

Top 6-25

24%

Notes: (1) Measured by total market capitalization as of December 2025.

https://fortune.com/ranking/fortune500/

Note *Data as of 11/30/25.

How we deliver

Our teams deliver world class experiences

for thousands of global brand leaders

Hundreds of thousands of active users put our AI through its paces

Millions of customer interactions fuel our data & insight model

CONFIDENTIAL

Platform

Enabling Self-Service

Enabling customers and internal teams to self-serve across channels, reducing effort and improving issue resolution and productivity.

Empowering Teams

Augmenting human experts with AI to drive productivity, proficiency and enhanced experiences while saving costs.

Enhancing Data

Harnessing the power of data to train SLMs and LLMs to provide specific and superior, personalized experiences.

Why we win with AI

We extend our market

Clients turn to trusted outsourcing partners that have the scale, technology and domain expertise to successfully design, build & run AI solutions that enhance brand integrity and work at scale

We broaden our value N

We introduce adjacent and complementary technology + services solutions

using our own IP and partner technologies

We expand our share of wallet

By proactively automating transactions while driving productivity and proficiency, clients centralize spend with fewer, more strategic partners and award us new, higher-value programs

Market

Value

Driving client value: Energy client case study

BEFORE

Limited visibility into customer conversations
Missed resolution drivers and repeat-contact patterns
Inconsistent advisor
coaching
Longer resolution cycles increasing cost to serve
AFTER
Clear insight into drivers of first-contact resolution
Fewer repeat contacts through targeted interventions
Consistent, data-driven
advisor coaching
Faster resolution and improved operational efficiency
Improvement in first
6% 16.5%
contact resolution
Average Handle Time (AHT)
improvement
© 2026 Concentrix Corp. All rights reserved. Confidential and proprietary. 9
© 2026 Concentrix Corp. All rights reserved. Confidential and proprietary. 9

Empowering Advisors to Close More Deals: Retail & Ecommerce | Agentic AI case study
175k
Powered by
BEFORE
A premier moving and storage brand wanted to turn every customer conversation into an opportunity to drive sales and foster trust
AFTER
Agentic AI converts raw conversations into clear, actionable insights during live customer interactions
Insights led to fast & effective answers and a significant increase in sales close rates

Calls transcribed into

85%

actionable insights

Accuracy in intelligent sales insights

Increase in sales close rates

Why invest

Powering a world that works

Growing revenue with diverse client base of global brands

Strong competitive advantage driven by trusted expertise, proven, global-scale AI solutions and

geographic breadth

Expanding market share through a broad portfolio of services that addresses client demand for intelligent business transformation

Growing, profitable business model with strong cash generation

Track record of shareholder returns and value creation

2,000 clients

160+ Fortune 500 clients

~16-year retention

Global-scale AI

Deployed across 1,000+ clients, 400,000+ desktops

Free Cash Flow

$626M Adjusted Free Cash Flow(1) FY 2025

Note: (1) Please see appendix for details and reconciliations of non-GAAP metrics to the most

comparable GAAP metric

Q1 2026 Results

Q 1 F Y 2 0 2 6

Industry Analyst & Awards Highlights

Industry Analysts

Everest Group recognized us as a Market Leader in the Payments Business Process Services (BPS) PEAK Matrix Assessment 2025.

24 Industry Awards - Highlights include:

iX Hero recognized with a Brandon Hall Excellence in Technology Award in the category of Best Advance in Generative AI for Business Impact.
Concentrix Agentic Operating Framework recognized as a leader in delivering foundational technology and driving the future of artificial intelligence.
- iX Hero wins two IA Customer Relations Awards for Hyperpersonalization & Customer Prediction and Best Augmented Agent
- ChangeMakers partner award honoring organizations for demonstrating exceptional commitment to strengthening digital ecosystems, advancing cybersecurity, and driving innovation at scale.

CEO commentary

"We continue to help clients capture measurable value from AI by being a trusted partner for these solutions. Our focus continues to be on winning the right longterm programs, combining integrated technology solutions and services."

Chris Caldwell, President & CEO, Concentrix

Q1 2026

$2.50 1.9%

$295.0

$2.61

Q1 2026 results

Revenue ($B)

Constant currency revenue growth %

Non-GAAP operating income ($M)

Non-GAAP EPS

Q1 2025 Change

Y/Y

$2.37 5.4%

$321.5 (8.2)%

$2.79 $(0.18)

Q1 Commentary

Delivers revenue and profit within guidance 1.9% revenue growth on constant currency

basis year-over-year driven by AI-enabled, high-quality revenue and strong demand in BFSI, Travel and Retail verticals

NGOI decrease reflects increased investments to support long-term growth

	Q1 2026	Q1 2025	Change Y/Y
Adjusted Free cash flow ($M)	$(144.6)	$(39.8)	$(104.8)
Net debt ($M)	$4,511.3	$4,593.9	$(82.6)
Shareholder returns ($M)	$66.3	$48.2	$18.1

Please see appendix for details and reconciliations of non-GAAP metrics to the most comparable GAAP metric.

Q1 2026 summary

Delivers revenue and profit within guidance
Maintains consistent full year outlook
Saw continued demand for integrated solutions and iX Hero proprietary AI product
Strong momentum in iX Suite enterprise wins

$2.5B

Revenue

1.9% constant currency revenue growth

$2.61

per share

Non-GAAP diluted EPS

Please see appendix for details and reconciliations of non-GAAP metrics to the most comparable GAAP metric.

Appendix

Use of Non-GAAP Information

In addition to disclosing financial results that are determined in accordance with GAAP, we also disclose certain non-GAAP financial information, including:

Constant currency revenue growth, which is revenue growth adjusted for the translation effect of foreign currencies so that certain financial results can be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Constant currency revenue growth is calculated by translating the revenue of each fiscal year in the billing currency to U.S. dollars using the comparable prior year's currency conversion rate in comparison to prior year's revenue. Generally, when the U.S. dollar either strengthens or weakens against other currencies, revenue growth at constant currency rates or adjusting for currency will be higher or lower than revenue growth reported at actual exchange rates.
Non-GAAP operating income, which is operating income, adjusted to exclude acquisition-related, integration and restructuring expenses, step-up
depreciation, amortization of intangible assets, loss on held for sale and share-based compensation.
Non-GAAP operating margin, which is non-GAAP operating income, as defined above, divided by revenue.
Adjusted earnings before interest, taxes, depreciation, and amortization, or adjusted EBITDA, which is non-GAAP operating income, as defined above, plus depreciation (exclusive of step-up depreciation).
Free cash flow, which is cash flows from operating activities less capital expenditures, and adjusted free cash flow, which is free cash flow excluding the effect of changes in the outstanding factoring balance. We believe that free cash flow is a meaningful measure of cash flows since capital expenditures are a necessary component of ongoing operations. We believe that adjusted free cash flow is a meaningful measure of cash flows because it removes the effect of factoring which changes the timing of the receipt of cash for certain receivables. However, free cash flow and adjusted cash flow have limitations because they do not represent the residual cash flow available for discretionary expenditures. For example, free cash flow and adjusted free cash flow do not incorporate payments for business acquisitions.
Non-GAAP net income, which is net income excluding the tax-effected impact of acquisition-related, integration and restructuring expenses, step-up depreciation, amortization of intangible assets, loss on held for sale, share-based compensation, certain debt costs, imputed interest related to the sellers' note, change in acquisition contingent consideration and foreign currency losses (gains), net. Non-GAAP net income also excludes the income tax effect of certain tax law changes.
18

© 2026 Concentrix Corp. All rights reserved. Confidential and proprietary.
Use of Non-GAAP Information
Non-GAAP diluted EPS, which is diluted EPS excluding the per share, tax-effected impact of acquisition-related, integration and restructuring expenses, step-up depreciation, amortization of intangible assets, loss on held for sale, share-based compensation, certain debt costs, imputed interest related to the sellers' note, certain legal settlement costs, change in acquisition contingent consideration and foreign currency losses (gains), net. Non-GAAP EPS also excludes the per share income tax effect of certain tax law changes. Non-GAAP EPS also reflects a per share adjustment to exclude non-GAAP net income attributable to participating securities.

We believe that providing this additional information is useful to the reader to better assess and understand our base operating performance, especially when comparing results with previous periods and for planning and forecasting in future periods, primarily because management typically monitors the business adjusted for these items in addition to GAAP results. Management also uses these non-GAAP measures to establish operational goals and, in some cases, for measuring performance for compensation purposes. These non-GAAP financial measures exclude amortization of intangible assets.

Although intangible assets contribute to our revenue generation, the amortization of intangible assets does not directly relate to the services performed for our clients. Additionally, intangible asset amortization expense typically fluctuates based on the size and timing of our acquisition activity. Accordingly, we believe excluding the amortization of intangible assets, along with the other non-GAAP adjustments, which neither relate to the ordinary course of our business nor reflect our underlying business performance, enhances our and our investors' ability to compare our past financial performance with its current performance and to analyze underlying business performance and trends. These non-GAAP financial measures also exclude share-based compensation expense. Given the subjective assumptions and the variety of award types that companies can use when calculating share-based compensation expense, management believes this additional information allows investors to make additional comparisons between our operating results and those of our peers. As these non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures and should be used as a complement to, and in conjunction with, data presented in accordance with GAAP.

Reconciliation of GAAP to Non-GAAP Measures - Q1 2026 and Q1 2025

(in thousands)

Three Months Ended

February 28, 2026

Revenue $ 2,500,391

Revenue growth, as reported under U.S. GAAP 5.4 %

Foreign exchange impact (3.5)%

Constant currency revenue growth 1.9%

Three Months Ended

February 28, 2026 February 28, 2025

Operating income	$ 118,559	$ 168,867
Acquisition-related, integration and restructuring expenses	34,869	18,024
Step-up depreciation	2,755	2,376
Amortization of intangibles	103,456	105,619
Loss on held for sale	5,929	-
Share-based compensation	29,455	26,600
Non-GAAP operating income	$ 295,023	$ 321,486

Three Months Ended

February 28, 2026 February 28, 2025

Net cash provided by (used in) operating activities	$ (83,220)	$ 1,408
Purchases of property and equipment	(53,902)	(50,618)
Free cash flow	(137,122)	(49,210)
Change in outstanding factoring balances	(7,491)	9,394
Adjusted free cash flow	$ (144,613)	$ (39,816)

Reconciliation of GAAP to Non-GAAP Measures - Q1 2026 and Q1 2025

(in thousands)

Three Months Ended

February 28, 2026 February 28, 2025

Net income	$ 21,589	$ 70,257
Interest expense and finance charges, net	75,317	72,994
Provision for income taxes	7,142	30,535
Other expense (income), net	14,511	(4,919)
Acquisition-related, integration and restructuring expenses	34,869	18,024
Step-up depreciation	2,755	2,376
Amortization of intangibles	103,456	105,619
Loss on held for sale	5,929	-
Share-based compensation	29,455	26,600
Depreciation (exclusive of step-up depreciation)	53,158	52,721
Adjusted EBITDA	$ 348,181	$ 374,207

Reconciliation of GAAP to Non-GAAP Measures - Q1 2026 and Q1 2025

Three Months Ended

February 28, 2026 February 28, 2025

Diluted earnings per common share ("EPS")	$ 0.33	$ 1.04
Acquisition-related, integration and restructuring expenses	0.57	0.28
Step-up depreciation	0.04	0.04
Debt costs	0.10	-
Imputed interest related to sellers' note included in interest expense and finance charges, net	-	0.07
Change in acquisition contingent consideration included in other expense (income), net	(0.01)	(0.03)
Foreign currency losses (gains), net	0.20	(0.07)
Amortization of intangibles	1.69	1.65
Loss on held for sale	0.10	-
Share-based compensation	0.48	0.42
Income taxes related to the above	(0.78)	(0.58)
Income tax effect of change in tax law	-	0.07
Adjustment for participating securities	(0.11)	(0.10)
Non-GAAP Diluted EPS	$ 2.61	$ 2.79

Reconciliation of GAAP to Non-GAAP Measures - Q2 2026 and FY2026 Guidance

(in thousands)

Three Months Ending

Forecast

Fiscal Year Ending

May 31, 2026 November 30, 2026

Low High Low High

Revenue	$ 2,460,000	$ 2,485,000	$ 10,035,000	$ 10,180,000
Revenue growth, as reported under U.S. GAAP	1.75%	2.75%	2.1%	3.6%
Foreign exchange impact	(0.75)%	(0.75)%	(0.6)%	(0.6)%
Constant currency revenue growth	1.0%	2.0%	1.5%	3.0%

Forecast

Three Months Ending

May 31, 2026

Fiscal Year Ending

November 30, 2026

Low		High	Low		High
Operating income	$ 128,200	$ 138,200	$	635,871	$	685,871
Amortization of intangibles	103,000	103,000	394,000		394,000
Share-based compensation	26,000	26,000	110,000		110,000
Acquisition-related, integration and restructuring expenses	30,000	30,000	85,000		85,000
Step-up depreciation	2,800	2,800	9,200		9,200
Loss on held for sale	-	-	5,929		5,929
Non-GAAP operating income	$ 290,000	$ 300,000	$ 1,240,000		$ 1,290,000

Reconciliation of GAAP to Non-GAAP Measures - Historical + 2026 Forecast

(in millions) Fiscal Year Ending November 30,

	2021A	2022A	2023A	2024A	2025A	2026E (1)	CAGR '22A- '25A
Revenue	$5,587.0	$6,324.5	$7,114.7	$9,618.9	$9,825.8	$10,107.5	16%
% Growth	18.4%	13.2%	12.5%	35.2%	2.2%	2.9%
Operating income (loss)	$572.4	$640.2	$661.3	$596.4	$(918.2)	$660.9
Amortization of intangibles	136.9	162.7	214.8	458.9	434.3	394.0
Share-based compensation	36.8	47.5	62.6	95.9	97.9	110.0
Acquisition-related, integration and restructuring expenses	0.8	33.7	71.3	156.8	101.5	85.0
Step-up depreciation	-	-	-	9.9	10.3	9.2
Loss on held for sale	-	-	-	-	-	5.9
Impairment charges	-	-	-	-	1,527.7	-
Gain on divestitures and related transaction costs	(13.2)	-	-	-	-	-
Non-GAAP operating income	$733.7	$884.1	$1,010.0	$1,317.9	$1,253.5	$1,265.0	12%
% Margin	13.1%	14.0%	14.2%	13.7%	12.8%	12.5%

Note: USD in millions. (1) Amounts at midpoint of guidance range provided as part of Q1 2026 earnings release.

Reconciliation of GAAP to Non-GAAP Measures - FY 2025

(in millions)	Fiscal Year Ended
	November 30, 2025
Net cash provided by operating activities	$ 806,967
Purchases of property and equipment	(234,496)
Free cash flow	572,471
Change in outstanding factoring balances	53,933
Adjusted free cash flow	$ 626,404

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Concentrix Corporation published this content on March 24, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on March 24, 2026 at 11:35 UTC.

Latest news about Concentrix Corporation

Mar. 27	Concentrix Corporation Announces Board Appointments	CI
Mar. 26	BofA Adjusts Price Target on Concentrix to $32 From $47, Maintains Neutral Rating	MT
Mar. 25	Concentrix is still struggling
Mar. 24	Top Midday Decliners	MT
Mar. 24	Tranche Update on Concentrix Corporation's Equity Buyback Plan announced on September 27, 2021.	CI
Mar. 24	Concentrix Corporation, Q1 2026 Earnings Call, Mar 24, 2026
Mar. 24	Concentrix Corporation Reports Earnings Results for the First Quarter Ended February 28, 2026	CI
Mar. 24	Concentrix Corporation Provides Unaudited Earnings Guidance for the Second Quarter and Full Fiscal Year 2026	CI
Mar. 24	Concentrix Corporation Declares Quarterly Dividend, Payable on May 5, 2026	CI
Mar. 24	Concentrix Fiscal Q1 Adjusted Earnings Fall, Revenue Rises; Issues Guidance	MT
Mar. 24	(CNXC) Concentrix Corporation Expects Q2 Revenue Range $2.46B - $2.49B	MT
Mar. 24	(CNXC) Concentrix Corporation Expects Fiscal Q2 Adjusted EPS Range $2.57 - $2.69	MT
Mar. 24	Earnings Flash (CNXC) Concentrix Corporation Reports Fiscal Q1 Revenue $2.50B, vs. FactSet Est of $2.49B	MT
Mar. 24	Earnings Flash (CNXC) Concentrix Corporation Posts Fiscal Q1 Adjusted EPS $2.61 per Share, vs. FactSet Est of $2.65	MT
Mar. 24	(CNXC) Concentrix Expects Fiscal 2026 Revenue Range $10.04B to $10.18B, vs. FactSet Est of $10.13B	MT

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Company Profile

Concentrix Corporation is a global technology and services company. The Company provides end-to-end capabilities, including customer experience (CX) process optimization, technology innovation, front- and back-office automation, analytics and business transformation. Its customer lifecycle management solutions include services such as customer care, sales support and digital marketing. It also provides complementary services, including CX/user experience (UX) strategy and design, digital transformation, and voice of the customer (VOC) and analytics. Its CX/UX strategy and design solutions, including CX strategy, data-driven user design, journey mapping, and multi-platform engineering. Its digital transformation solutions include services such as robotic process automation and cognitive automation and mobile app development. ConcentrixCX, its VOC solutions platform, helps turn customer feedback into actionable insights. It operates under the trade name Concentrix + Webhelp.

Employees

455,000

Sector

Business Support Services

More about the company