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Concentrix Corporation (CNXC-0.71%) has filed its Form 10-K filing for the fiscal year ended November 30, 2024.
The filing includes financial statements and disclosures for the fiscal year, reporting a total revenue of $9,618,900,000, an increase from $7,114,706,000 in the previous year. The increase in revenue is attributed primarily to the acquisition of Webhelp.
Cost of revenue for the year was $6,170,013,000, resulting in a gross profit of $3,448,887,000. The gross margin percentage slightly decreased to 35.9% from 36.2% in the prior year.
Selling, general, and administrative expenses rose to $2,852,500,000, up from $1,916,608,000, due to acquisition-related expenses and integration costs.
Net income for the year was $251,217,000, down from $313,842,000 in the previous year. The decrease is attributed to higher interest expenses and acquisition-related costs.
Concentrix reported a decrease in its effective tax rate to 16.1% from 23.1% due to geographical mix of income and tax benefits from legal restructuring.
The company completed the acquisition of Webhelp, a leading provider of CX solutions, for a total consideration of approximately $3.8 billion, enhancing its presence in Europe, Latin America, and Africa.
Concentrix issued $2.15 billion in senior notes and amended its credit facility to finance the acquisition.
The company continues to focus on expanding its global delivery capabilities and enhancing its technology solutions to drive growth and improve client experiences.
Concentrix's board of directors declared and paid dividends totaling $0.33275 per share in the fourth quarter of fiscal year 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Concentrix Corporation annual 10-K report dated January 28, 2025. To report an error, please email earnings@qz.com.