Concentrix Net Income Drops 69% to $21.6M in Q1 FY2026

Concentrix Corporation (NASDAQ: CNXC), a customer experience solutions and technology company, reported net income of $21.6 million for the three months ending February 28, 2026, a 69% decline from $70.3 million in the year-ago quarter. Earnings per diluted share fell to $0.33 from $1.04. Read more earnings reports.

Revenue for the quarter rose 5.4% to $2.50 billion from $2.37 billion in the first quarter of fiscal 2025. Cost of revenue increased to $1.65 billion from $1.52 billion, while gross profit edged down to $849.7 million from $855.9 million.

Operating income dropped 30% to $118.6 million from $168.9 million in the same period last year. Selling, general and administrative expenses climbed to $731.1 million from $687.0 million.

The company burned $83.2 million in cash from operations during the quarter, compared with positive operating cash flow of $1.4 million in the prior-year period. Cash from financing activities totaled $18.5 million, down from $102.3 million a year earlier.

Concentrix paid $23.2 million in dividends during the quarter, up slightly from $22.5 million in the year-ago period. The company ended the quarter with $222.7 million in cash and cash equivalents, down from $327.3 million at November 30, 2025.

Long-term debt decreased to $4.00 billion from $4.57 billion at the prior quarter-end. Total assets stood at $10.67 billion as of February 28, 2026, down from $10.76 billion three months earlier.

Stockholders' equity rose to $2.79 billion from $2.74 billion at November 30, 2025. The company reported 60.8 million common shares outstanding at quarter-end, down from 61.7 million in the previous quarter.

Accounts receivable increased to $2.04 billion from $2.00 billion, while accounts payable declined to $202.4 million from $244.8 million. The company recorded $207.5 million in discontinued operations assets at quarter-end.

Financial Summary