Q1 2026 Concentrix Corp Earnings Call Transcript
Key Points
- Concentrix Corp (CNXC) reported a 61% year-over-year increase in technology wins, highlighting a successful shift in their go-to-market offerings.
- The company's AI-related bookings more than doubled, indicating strong client acceptance and a growing pipeline of opportunities.
- Revenue from banking and financial services clients grew by 13% year-over-year, showcasing robust performance in this vertical.
- Concentrix Corp (CNXC) successfully closed close to 60 enterprise iX suite deals, including significant contracts with two Fortune 50 companies.
- The company is on track to meet its expectations for the year, with a focus on securing complex work and high-value services to drive long-term growth.
- Revenue from the technology and consumer electronics vertical and the healthcare vertical both decreased by about 6%, driven by lighter volumes and shore mix.
- Adjusted free cash flow was negative $145 million in the quarter, reflecting an increase in accounts receivable.
- GAAP results for the first quarter included a $6 million loss on the sale of two small nonstrategic businesses.
- The company faces margin compression in the first half of the year, with expectations for improvement only in the second half.
- Concentrix Corp (CNXC) is experiencing a 2-point headwind from the movement of work offshore, impacting revenue growth.
Hello, everyone. Thank you for joining us, and welcome to the Concentrix first quarter 2026 financial results conference call. (Operator Instructions) I will now hand the call over to Elise Brasell, Corporate Communications. Please go ahead.
Thank you, operator, and good morning, everybody. Welcome to the Concentrix first quarter 2026 earnings call. This call is the property of Concentrix and may not be recorded or rebroadcast without the written permission of Concentrix. This call contains forward-looking statements that address our expected future performance and that, by their nature, address matters that are uncertain.
These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements as a result of new information or future expectations, events or developments.
Please refer to today's earnings release and our most recent filings
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