Concentrix (CNXC) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $2,462.5M, up 1.9% year-over-year as reported, with constant currency growth of 0.6%.

• Adjusted free cash flow hit a record $242.3M, up $42M from Q2 2025.

• iX Suite technology and AI-related deals grew 400% year-over-year, driving momentum in BFSI, Travel, and Retail.

• The blended AI and services approach is driving client value and market differentiation.

• CEO highlighted accelerated business evolution and differentiation through integrated technology and services.

Financial highlights

• Non-GAAP operating income was $292M (11.9% margin), down 3.9% year-over-year but within guidance; adjusted EBITDA was $347.4M (14.1% margin), down 2.8% year-over-year.

• Non-GAAP diluted EPS was $2.63, up $0.02 sequentially but down $0.07 year-over-year.

• Adjusted free cash flow reached $242.3M, the highest Q2 since 2020.

• Net debt reduced by $230.2M year-over-year to $4,317.8M; liquidity at nearly $1.5B.

• Shareholder returns totaled $23.1M, down from $67.5M in Q2 2025; no share repurchases in Q2.

Outlook and guidance

• Q3 2026 revenue expected at $2.465B–$2.490B, with constant currency growth of 0–1%.

• Q3 non-GAAP operating income guidance: $295M–$305M; non-GAAP EPS: $2.65–$2.77.

• FY 2026 revenue guidance: $9.925B–$10.025B, with constant currency growth of 0.25%–1.25%.

• FY 2026 non-GAAP operating income expected at $1.2B–$1.23B; non-GAAP diluted EPS at $10.83–$11.18.

• Adjusted free cash flow for FY 2026 projected at $630M–$650M.