Concentrix is targeting $630 million to $650 million in adjusted free cash flow for fiscal 2026 and expects to surpass $120 million in annual recurring revenue for its iX Suite. During the second quarter earnings call, President and CEO Christopher Caldwell highlighted a record level of iX Suite contract signings, up 400% year-over-year in deal count, with nearly 100 deals closed in the quarter. Executive VP and CFO Andre Valentine guided third quarter revenue to $2.465 billion to $2.490 billion and full-year revenue to $9.925 billion to $10.025 billion, while noting that an acceleration in client offshoring and spending reallocation has increased the constant-currency headwind to nearly 300 basis points. Non-GAAP operating income was $292 million in the second quarter, with margins up 10 basis points sequentially, and the company reduced total net debt by $228 million to approximately $4.32 billion. Management expects sequential margin improvement through the second half of the year, driven by restructuring actions, the burn-off of duplicate costs from offshore transitions, and scaling iX Suite deployments.
Concentrix CorporationCompany targets $630M-$650M FY2026 adjusted free cash flow, guides revenue, and reports margin improvement and debt reduction.