# Concentrix (CNXC) Q3 2025 Financial Results Summary
Concentrix Corporation (NASDAQ: CNXC) released its financial results for the fiscal third quarter on September 25, 2025, for the period ending August 31, 2025. Below is a summary of the key financial metrics and highlights.
## Financial Highlights
– **Revenue**:
– **$2,483.3 million** for Q3 2025, up **4.0%** from **$2,387.4 million** in Q3 2024.
– Constant currency growth of **2.6%** year-on-year.
– **Operating Income**:
– **$147.0 million**, a decrease of **4.0%** compared to **$153.2 million** in Q3 2024.
– Operating margin decreased to **5.9%**, down from **6.4%** (a decrease of **50 basis points**).
– **Non-GAAP Operating Income**:
– **$305.1 million**, down **7.8%** from **$331.0 million** in Q3 2024.
– Non-GAAP operating margin at **12.3%**, down from **13.9%** (a decrease of **160 basis points**).
– **Net Income**:
– **$88.1 million**, an increase of **430.7%** from **$16.6 million** in the same quarter last year.
– **Non-GAAP Net Income**:
– **$183.2 million**, down **4.7%** from **$192.2 million** in Q3 2024.
– **Adjusted EBITDA**:
– **$359.2 million**, a decrease of **7.4%** from **$388.1 million** in Q3 2024.
– Adjusted EBITDA margin at **14.5%**, down from **16.3%** (a decrease of **180 basis points**).
– **Earnings per Share (EPS)**:
– **$1.34** for diluted EPS, compared to **$0.25** in Q3 2024 (an increase of **436.0%**).
– Non-GAAP diluted EPS at **$2.78**, down **3.1%** from **$2.87** in Q3 2024.
– **Cash Flow**:
– Cash flow from operations: **$224.8 million**.
– Adjusted free cash flow: **$178.8 million**.
## Dividend and Share Repurchase
– Concentrix has increased its quarterly dividend.
– Paid a dividend of **$0.33275** per share on **August 5, 2025**.
– Declared a new quarterly dividend of **$0.36** per share, payable on **November 4, 2025**.
– Share Repurchase:
– Approximately **800,000 common shares** were repurchased in Q3 2025 at a total cost of **$42.2 million**, averaging **$53.07** per share.
– Remaining share repurchase authorization stood at **$495.1 million** as of August 31, 2025.
## Business Outlook
### Fourth Quarter Fiscal 2025 Expectations:
– **Revenue Forecast**:
– Estimated between **$2.525 billion** and **$2.550 billion**.
– Assuming a **1.5% to 2.5%** constant currency revenue growth.
– **Operating Income**:
– Forecasted between **$163 million** and **$173 million**.
– Non-GAAP operating income projected between **$320 million** and **$330 million**.
– **Earnings per Share**:
– Forecasted non-GAAP EPS expected between **$2.85** and **$2.96**.
### Full Year Fiscal 2025 Expectations:
– **Revenue Forecast**:
– Estimated between **$9.798 billion** and **$9.823 billion**.
– Implies a **1.75% to 2.0%** constant currency revenue growth.
– **Operating Income**:
– Projected between **$627 million** and **$637 million**.
– Non-GAAP operating income projected between **$1,250 million** and **$1,260 million**.
– **Earnings per Share**:
– Forecasted non-GAAP EPS expected between **$11.11** and **$11.23**.
– **Free Cash Flow**:
– Estimated between **$585 million** and **$610 million** for fiscal year 2025.
– Anticipated **$240 million** return to shareholders through dividends and share buybacks.
Concentrix remains optimistic about the demand environment for its integrated solutions and its strategy to return value to shareholders while continuing to navigate a challenging economic landscape.
Here are the extracted tables from the press release, formatted in Markdown:
### CONCENTRIX CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS
*(currency and share amounts in thousands, except per share amounts)*
| August 31, 2025 | August 31, 2024 | % Change | August 31, 2025 | August 31, 2024 | % Change | |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Technology and consumer electronics | $670,573 | $664,829 | 1% | $1,990,984 | $1,988,199 | —% |
| Retail, travel and e-commerce | $622,822 | $593,736 | 5% | $1,790,502 | $1,745,529 | 3% |
| Communications and media | $411,229 | $380,508 | 8% | $1,175,192 | $1,141,926 | 3% |
| Banking, financial services and insurance | $384,449 | $352,471 | 9% | $1,133,657 | $1,095,616 | 3% |
| Healthcare | $174,106 | $172,400 | 1% | $540,297 | $540,162 | —% |
| Other | $220,074 | $223,468 | -2% | $642,214 | $659,444 | -3% |
| Total revenue | $2,483,253 | $2,387,412 | 4% | $7,272,846 | $7,170,876 | 1% |
| Cost of revenue | $1,628,246 | $1,523,220 | 7% | $4,713,792 | $4,592,586 | 3% |
| Gross profit | $855,007 | $864,192 | -1% | $2,559,054 | $2,578,290 | -1% |
| Selling, general and administrative expenses | $708,023 | $710,950 | —% | $2,094,858 | $2,126,439 | -1% |
| Operating income | $146,984 | $153,242 | -4% | $464,196 | $451,851 | 3% |
| Interest expense and finance charges, net | $72,014 | $80,815 | -11% | $220,414 | $245,711 | -10% |
| Other expense (income), net | -$36,474 | $46,011 | -179% | -$20,175 | $19,772 | -202% |
| Income before income taxes | $111,444 | $26,416 | 322% | $263,957 | $186,368 | 42% |
| Provision for income taxes | $23,334 | $9,785 | 138% | $63,497 | $50,801 | 25% |
| Net income | $88,110 | $16,631 | 430% | $200,460 | $135,567 | 48% |
| Earnings per common share: | ||||||
| Basic | $1.34 | $0.25 | $3.01 | $2.00 | ||
| Diluted | $1.34 | $0.25 | $3.01 | $2.00 | ||
| Weighted-average common shares outstanding: | ||||||
| Basic | 62,598 | 64,660 | 63,325 | 65,196 | ||
| Diluted | 62,702 | 64,749 | 63,379 | 65,311 |
### CONCENTRIX CORPORATION CONSOLIDATED BALANCE SHEETS
*(currency and share amounts in thousands, except par value)*
| August 31, 2025 | November 30, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $350,259 | $240,571 |
| Accounts receivable, net | $2,051,920 | $1,926,737 |
| Other current assets | $735,332 | $675,116 |
| Total current assets | $3,137,511 | $2,842,424 |
| Property and equipment, net | $733,306 | $714,517 |
| Goodwill | $5,191,565 | $4,986,967 |
| Intangible assets, net | $2,079,278 | $2,286,940 |
| Deferred tax assets | $282,486 | $218,396 |
| Other assets | $985,953 | $942,194 |
| Total assets | $12,410,099 | $11,991,438 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $221,570 | $209,812 |
| Current portion of long-term debt | $37,500 | $2,522 |
| Accrued compensation and benefits | $698,890 | $706,619 |
| Other accrued liabilities | $969,868 | $977,314 |
| Income taxes payable | $81,355 | $99,546 |
| Total current liabilities | $2,009,183 | $1,995,813 |
| Long-term debt, net | $4,790,293 | $4,733,056 |
| Other long-term liabilities | $964,086 | $910,271 |
| Deferred tax liabilities | $302,408 | $312,574 |
| Total liabilities | $8,065,970 | $7,951,714 |
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of August 31, 2025 and November 30, 2024, respectively | $— | $— |
| Common stock, $0.0001 par value, 250,000 shares authorized; 69,120 and 68,849 shares issued as of August 31, 2025 and November 30, 2024, respectively, and 62,209 and 64,238 shares outstanding as of August 31, 2025 and November 30, 2024, respectively | $7 | $7 |
| Additional paid-in capital | $3,765,512 | $3,683,608 |
| Treasury stock, 6,911 and 4,611 shares as of August 31, 2025 and November 30, 2024, respectively |
