CNXC

EX-99.1

2 exhibit991q32026.htm

EX-99.1

Document

Concentrix Reports Third Quarter 2026 Results

•Exceeded profitability guidance for the quarter

•Generated record-high third quarter free cash flow from operations of $268M, and adjusted free cash flow of $218M

•Increased quarterly dividend

Newark, Calif., Sept. 29, 2026 – Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, today announced financial results for the fiscal third quarter ended August 31, 2026.

Three Months Ended

August 31, 2026August 31, 2025Change

Revenue ($M) $2,453.7 $2,483.3 (1.2)%

Operating income (loss) ($M) (1)

$(910.3)$147.0 NM

Non-GAAP operating income ($M) (2)

$309.0 $305.1 1.3 %

Operating margin (1)

(37.1)%5.9 %NM

Non-GAAP operating margin (2)

12.6 %12.3 %30 bps

Net income (loss) ($M) (1)

$(988.1)$88.1 NM

Non-GAAP net income ($M) (2)

$186.5 $183.2 1.8 %

Adjusted EBITDA ($M) (2) $363.0 $359.2 1.1 %

Adjusted EBITDA margin (2) 14.8 %14.5 %30 bps

Diluted earnings (loss) per common share (1)

$(16.24)$1.34 NM

Non-GAAP diluted earnings per common share (2)

$2.92 $2.78 5.0 %

(1) Operating loss, operating margin, net loss and diluted loss per common share in the third quarter of 2026 include a non-cash goodwill impairment charge of $1,050.0 million primarily resulting from the trading range for the Company’s stock price and market capitalization.

(2) See non-GAAP reconciliations included in the accompanying financial tables for the reconciliation of each non-GAAP measure to its most directly comparable GAAP measure.

NM Not Meaningful - Change greater than 100% or 1,000 bps.

Third Quarter Fiscal 2026 Highlights:

•Revenue of $2,453.7 million, a decrease of (1.2)% year-on-year on an as reported basis compared to revenue of $2,483.3 million in the prior year third quarter. The Company’s revenue decreased by (0.5)% year-on-year on a constant currency basis.

•Operating loss of $(910.3) million, or (37.1)% of revenue, compared to $147.0 million, or 5.9% of revenue, in the prior year third quarter. Operating loss for the quarter includes a non-cash goodwill impairment charge of $1,050.0 million primarily resulting from the recent trading range for the Company’s stock price and market capitalization.

•Non-GAAP operating income of $309.0 million, or 12.6% of revenue, compared with $305.1 million, or 12.3% of revenue in the prior year third quarter.

•Adjusted EBITDA of $363.0 million, or 14.8% of revenue, compared with $359.2 million, or 14.5% of revenue in the prior year third quarter.

•Cash flow provided by operations was $268.2 million in the quarter. Adjusted free cash flow(1) was $218.3 million in the quarter.

•Diluted earnings (loss) per common share (“EPS”) was $(16.24), inclusive of the goodwill impairment referenced above, compared to $1.34 in the prior year third quarter.

•Non-GAAP diluted EPS was $2.92 compared to $2.78 in the prior year third quarter.

“This quarter, we reached an inflection point where 50% of our revenue is coming from business we have won and deployed within the last 3 years since the introduction of AI,” said Chris Caldwell, President and CEO of Concentrix. “While we are aggressively disrupting our own traditional business, the underlying new business is stronger and healthier as evidenced by our margin expansion, strong free cash flow and growth of our new services."

Quarterly Dividend and Share Repurchase Program:

•The Company paid a $0.36 per share quarterly dividend on August 4, 2026. The Company’s Board of Directors has declared a quarterly dividend of $0.37 per share payable on November 3, 2026, to shareholders of record at the close of business on October 23, 2026.

•The Company did not repurchase any shares under its share repurchase program during the third quarter of fiscal year 2026. At August 31, 2026, the Company’s remaining share repurchase authorization was $396.6 million.

Business Outlook:

The following statements are based on the Company’s current expectations for the fourth quarter and the full year fiscal 2026. Non-GAAP financial measures exclude the impact of impairment charge, acquisition-related, integration and restructuring expenses, amortization of intangible assets, depreciation, loss on held for sale, share-based compensation and the related tax effects thereon. The non-GAAP EPS guidance assumes no impact from changes in acquisition contingent consideration and foreign currency losses (gains), net included in other expense (income), net. These statements are forward-looking and actual results may differ materially.

Fourth Quarter Fiscal 2026 Expectations:

•Fourth quarter reported revenue of $2.410 billion to $2.460 billion. Based on current exchange rates, these expectations assume an approximate 65-basis point negative impact of foreign exchange rates compared with the prior year period. The guidance implies constant currency revenue decline for the quarter ranging from (5.0)% to (3.0)%.

•Operating income of $174 million to $184 mil

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