Revenue Growth and Exceeding Guidance
Concentrix reported revenue of approximately $2.4 billion, an increase of 1.5% year-on-year, exceeding their guidance. They anticipate continued revenue growth in the second half, driven by AI solutions and vertical strength across geographies.
AI and Technology Advancements
The launch of iX Hero and iX Hello AI-powered applications has been successful, with early market traction and strong pipeline. The AI solutions are expected to be accretive by the end of the year, with no additional spending required.
High Adjusted Free Cash Flow
Concentrix delivered over $200 million in adjusted free cash flow in the quarter, with expectations of strong free cash flow growth for the full year.
Strong Capital Position
The company returned $67 million to shareholders in the quarter, including share repurchases and dividends, while maintaining a strong liquidity position with $1.5 billion available.