[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_102":103},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","vly5q3oe8cqwoqcgaiw9p8k6p","revision",2,"title","Concentrix Corp 2026年8月31日止三个月净亏损9.88亿美元","originalTitle","Concentrix Corp (0001803599) (Filer)","summary","Concentrix Corp 2026年8月31日止三个月净亏损9.88亿美元，同比由盈转亏；九个月累计净亏损9.11亿美元，同比由盈转亏。公司录得10.5亿美元非现金商誉减值费用，收入同比下降1.2%。公司同时披露了债务转换、股票回购及股息信息。","reason","Concentrix Corp 2026年8月31日止的三个月录得净亏损9.88亿美元，同比由盈转亏，九个月累计净亏损9.11亿美元，同比由盈转亏，主要受商誉减值及收入下降影响。","source",{"_12":93,"_94":95,"_9":96,"_97":42,"_98":99,"_100":101},"links",{"_90":91,"_78":92},"publishedAt","2026-10-07T12:17:53.000Z","discoveredAt","2026-10-07T12:46:23.924Z","timelineAt","category","ai-products","tags",[84,85,86,87,88,89],"stockSymbols",[83],"score",77,"selected",true,"channel","news","story",{"_73":74,"_16":75},"x","readingMode","full","author","language","body",{"_64":77,"_78":-5,"_79":80,"_81":82},"outline",[],"relatedStories",[76],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":69,"_70":71,"_72":71},"hasTranslation","bodyLanguage","zh","factId","fy2w5mqVopE0",{"_73":74,"_16":75},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","57c1bcf6-8923-45dc-ba0b-aa67135c70c2","Concentrix 2026年三季度净亏损9.88亿美元",{"_73":74,"_16":75},"

美国

证券交易委员会

华盛顿特区 20549

表格 10-Q

(选择一项)


☒	根据《1934 年证券交易法》第 13 或 15(d) 条提交的季度报告

截至 2026 年 8 月 31 日的季度

或


☐	根据《1934 年证券交易法》第 13 或 15(d) 条提交的过渡报告

从 _____________ 至 _____________ 的过渡期

委员会文件编号：001-39494

$\"Concentrix$

CONCENTRIX CORPORATION

（注册人章程中指定的全名）


特拉华州	27-1605762
（注册或组织的州或司法管辖区）	（I.R.S. 雇主识别号）

加利福尼亚州纽瓦克市 Balentine Drive 39899 号，235 室		94560
（主要执行办公室地址）	（邮政编码）

(800) 747-0583

（注册人的电话号码，包括区号）

根据《法案》第 12(b) 条注册的证券：

每类证券的名称

交易代码

每种证券的注册交易所名称

面值为 0.0001 美元的普通股

CNXC

纳斯达克股票市场有限责任公司

通过勾选方框表明注册人是否：(1) 已提交根据《1934 年证券交易法》第 13 或 15(d) 条在前 12 个月内（或注册人需要提交此类报告的较短期间）要求提交的所有报告，以及 (2) 在过去 90 天内已受到此类提交要求的约束。是 ☒ 否 ☐

通过勾选方框表明注册人是否在前 12 个月内（或注册人需要提交此类文件的较短期间）根据《法规 S-T》第 405 条（本章第 232.405 条）提交了所有要求提交的交互式数据文件。是 ☒ 否 ☐

通过勾选方框表明注册人是大型加速提交者、加速提交者、非加速提交者、较小报告公司或新兴成长公司。请参见《交易法》第 12b-2 条中“大型加速提交者”、“加速提交者”、“较小报告公司”和“新兴成长公司”的定义。


大型加速提交者	☒	加速提交者	☐
非加速提交者	☐	较小报告公司	☐
		新兴成长公司	☐

如果为新兴成长公司，请通过勾选方框表明注册人是否已选择不使用《交易法》第 13(a) 条规定的任何新修订的财务会计标准的延长过渡期。 ☐

通过勾选方框表明注册人是否为壳公司（根据《法案》第 12b-2 条定义）。是 ☐ 否 ☒

表明发行人每类普通股的流通股数量，以最近可行日期为准。


类别		截至 2026 年 9 月 30 日的流通股数量
面值为 0.0001 美元的普通股		61,105,440

CONCENTRIX CORPORATION

表格 10-Q
索引


		页面
第一部分	财务信息	2
项目 1.	财务报表	2
	截至 8月 31日的合并资产负债表（未经审计）及2025年11月30日	2
	截至 2026 年 8 月 31 日和 2025 年 8 月 31 日的三个月和九个月期间的合并损益表（未审）	3
	合并综合收益表（未经审计）：截至九个月的期间及 8月 31日的2026年和2025年	4
	合并股东权益表（未经审计）：截至九个月的期间及 8月 31日的2026年和2025年	5
	合并现金流量表（未经审计）：截至九个月的期间及 8月 31日的2026年和2025年	7
	合并财务报表附注（未审）	8
项目 2.	管理层讨论与分析财务状况和经营成果	31
项目 3.	关于市场风险的定量和定性披露	47
项目 4.	控制和程序	48

第二部分	其他信息	49
项目 1.	法律诉讼	49
项目 1A.	风险因素	49
项目 2.	未注册的 S 股销售 E 股权益 S 证券及 U 用 P 收益	49
项目 5.	其他信息	49
项目 6.	附录	50

	签名	51

第一部分—财务信息

项目 1. 财务报表

CONCENTRIX 公司

合并资产负债表

（货币和股份金额以千为单位，除面值外）


	2026 年 8 月 31 日		2025 年 11 月 30 日
	（未审）
资产
流动资产：
现金及现金等价物	$	244,692			$	327,347
应收账款，净额	1,969,848			1,999,021
待售资产	212,959			—
其他流动资产	489,238			758,135
流动资产合计	2,916,737			3,084,503
固定资产，净额	698,116			735,550
经营租赁使用权资产，净额	864,749			857,025
商誉	2,636,667			3,671,746
无形资产，净额	1,651,400			1,960,338
递延税资产	346,058			317,453
其他资产	147,042			134,471
资产总计	$	9,260,769			$	10,761,086

负债和股东权益
流动负债：
应付账款	$	221,495			$	244,771
长期债务的流动部分	450,000			65,625
应计薪酬和福利	680,040			764,962
其他应计负债	763,409			997,198
应交税款	73,221			123,794
待售负债	182,149			—
流动负债合计	2,370,314			2,196,350
长期债务，净额	3,925,373			4,572,889
其他长期负债	949,867			950,983
递延税负债	246,476			296,519
负债总计	7,492,030			8,016,741
承诺和或有事项（第 15 号附注）
股东权益：
优先股，面值0.0001美元，截至2026年8月31日和2025年11月30日分别授权10,000股且未发行和流通股	—			—
普通股，面值0.0001美元，授权250,000股；截至2026年8月31日和2025年11月30日分别发行70,679股和70,316股，以及截至2026年8月31日和2025年11月30日分别流通60,948股和61,739股	7			7
额外实收资本	3,859,842			3,783,972
库藏股，截至2026年8月31日和2025年11月30日分别为9,731股和8,577股	(657,424)			(610,162)
留存亏损	(1,157,782)			(177,010)
其他综合损失	(275,904)			(252,462)
股东权益总额	1,768,739			2,744,345
总负债和股东权益	$	9,260,769			$	10,761,086

附注是这些合并财务报表不可分割的一部分。

CONCENTRIX CORPORATION

合并损益表

（货币和股份数量以千为单位，除非每股金额）

（未经审计）


	截至三个月的结束		截至九个月的结束
	2026年8月31日		2025年8月31日		2026年8月31日		2025年8月31日
收入	$	2,453,679			$	2,483,253		$	7,416,543	$	7,272,846
销售成本	1,604,800			1,628,246			4,894,658		4,713,792
毛利	848,879			855,007			2,521,885		2,559,054
销售、一般及行政费用	709,184			708,023			2,168,210		2,094,858
减值费用	1,050,000			—			1,050,000		—
运营收入（亏损）	(910,305)			146,984			(696,325)		464,196
利息费用和财务费用，净额	64,856			72,014			208,247		220,414
其他费用（收入），净额	4,603			(36,474)			(23,014)		(20,175)
税前收入（亏损）	(979,764)			111,444			(881,558)		263,957
所得税拨备	8,349			23,334			29,690		63,497
净收入（亏损）	$	(988,113)			$	88,110		$	(911,248)	$	200,460

每股普通股收益：
基本	$	(16.24)			$	1.34		$	(14.99)	$	3.01
稀释	$	(16.24)			$	1.34		$	(14.99)	$	3.01
加权平均普通股 outstanding：
基本	60,910			62,598			61,011		63,325
稀释	60,910			62,702			61,011		63,379

附注是这些合并财务报表不可分割的一部分。

CONCENTRIX CORPORATION

合并全面收益（亏损）表

（货币以千为单位）

（未经审计）


	截至三个月的结束		截至九个月的结束
	2026年8月31日		2025年8月31日		2026年8月31日		2025年8月31日
净收入（亏损）	$	(988,113)			$	88,110		$	(911,248)	$	200,460
其他综合收入（亏损）：
定义福利计划的未实现收益（亏损），截至2026年8月31日三个月和九个月分别税后156和7,428，以及截至2025年8月31日三个月和九个月分别为0和（19）	1,409			(14)			(20,272)		1,103
定义福利计划的净损失重新分类至净收入（亏损），截至2026年8月31日三个月和九个月分别税后（159）和（1,117），以及截至2025年8月31日三个月和九个月分别为0和0	476			—			3,337		—
定义福利计划未实现收益（亏损）的总变动，税后	1,885			(14)			(16,935)		1,103
期间内对冲的未实现收益（亏损），截至2026年8月31日三个月和九个月分别税后1,245和13,936，以及截至2025年8月31日三个月和九个月分别为5,839和（3,275）	6,281			(13,074)			(23,825)		14,375
将套期净损失（收益）重新分类至净收入（损失），税后金额分别为截至2026年8月31日的三个月和九个月的$(3,276)和$(7,571)，以及截至2025年8月31日的三个月和九个月的$186和$(1,235)	9,621			(545)			22,235		3,627
套期未实现收益（损失）的总变动，税后	15,902			(13,619)			(1,590)		18,002
截至2026年和2025年8月31日的三个月和九个月的外币折算调整	39,254			27,548			(4,917)		186,091
其他综合收益（损失）	57,041			13,915			(23,442)		205,196
综合收益（损失）	$	(931,072)			$	102,025		$	(934,690)	$	405,656

附注是这些合并财务报表不可分割的一部分。

CONCENTRIX CORPORATION

合并股东权益表

（货币和股份金额以千为单位）

（未经审计）


	截至2026年8月31日的三个月和九个月
	普通股			库藏股
	股数	金额		额外实收资本	股数		金额		留存亏损		其他综合损失累计	股东权益总额
2026年5月31日余额	70,591		$	7		$	3,838,082			9,728		$	(657,340)	$	(146,518)		$	(332,945)	$	2,701,286
其他综合收益	—		—		—			—			—		—	57,041		57,041
基于股份的薪酬活动	88		—		21,760			—			—		—	—		21,760
为抵税而回购普通股	—		—		—			3			(84)		—	—		(84)
普通股回购	—		—		—			—			—		—	—		—
股息	—		—		—			—			—		(23,151)	—		(23,151)
净损失	—		—		—			—			—		(988,113)	—		(988,113)
2026年8月31日余额	70,679		$	7		$	3,859,842			9,731		$	(657,424)	$	(1,157,782)		$	(275,904)	$	1,768,739

2025年11月30日余额	70,316		$	7		$	3,783,972			8,577		$	(610,162)	$	(177,010)		$	(252,462)	$	2,744,345
其他综合收益（损失）	—		—		—			—			—		—	(23,442)		(23,442)
基于股份的薪酬活动	363		—		75,870			—			—		—	—		75,870
为抵税而回购普通股	—		—		—			73			(4,068)		—	—		(4,068)
普通股回购	—		—		—			1,081			(43,194)		—	—		(43,194)
股息	—		—		—			—			—		(69,524)	—		(69,524)
净损失	—		—		—			—			—		(911,248)	—		(911,248)
2026年8月31日余额	70,679		$	7		$	3,859,842			9,731		$	(657,424)	$	(1,157,782)		$	(275,904)	$	1,768,739

CONCENTRIX CORPORATION

合并股东权益表

（货币和股份金额以千为单位）

（未经审计）


	截至2025年8月31日的三个月和九个月
	普通股			库藏股
	股数	金额		额外实收资本	股数		金额		留存收益		其他综合损失累计	股东权益总额
2025年5月31日余额	69,054		$	7		$	3,738,360			6,124		$	(496,194)	$	1,259,559		$	(223,032)	$	4,278,700
其他综合收益	—		—		—			—			—		—	13,915		13,915
基于股份的薪酬活动	66		—		27,152			—			—		—	—		27,152
为抵税而回购普通股	—		—		—			4			(172)		—	—		(172)
普通股回购	—		—		—			783			(41,600)		—	—		(41,600)
股息	—		—		—			—			—		(21,976)	—		(21,976)
净收益	—		—		—			—			—		88,110	—		88,110
2025年8月31日余额	69,120		$	7		$	3,765,512			6,911		$	(537,966)	$	1,325,693		$	(209,117)	$	4,344,129

2024年11月30日余额	68,849		$	7		$	3,683,608			4,611		$	(421,449)	$	1,191,871		$	(414,313)	$	4,039,724
其他综合收益	—		—		—			—			—		—	205,196		205,196
基于股份的薪酬活动	271		—		81,904			—			—		—	—		81,904
为抵税而回购普通股	—		—		—			53			(3,743)		—	—		(3,743)
普通股回购	—		—		—			2,247			(112,774)		—	—		(112,774)
股息	—		—		—			—			—		(66,638)	—		(66,638)
净收益	—		—		—			—			—		200,460	—		200,460
2025年8月31日余额	69,120		$	7		$	3,765,512			6,911		$	(537,966)	$	1,325,693		$	(209,117)	$	4,344,129

附注是这些合并财务报表不可分割的一部分。

CONCENTRIX CORPORATION
合并现金流量表
（货币单位为千）
（未经审计）


	九个月结束于
	2026年8月31日		2025年8月31日
经营活动产生的现金流量：
净收益（损失）	$	(911,248)			$	200,460
调整项目以将净利润调节为经营活动提供的净现金:
减值损失	1,050,000			—
折旧	170,548			168,026
摊销	306,421			326,556
非现金股权激励费用	72,022			77,913
信用损失准备	7,384			5,467
递延所得税	(70,110)			(112,717)
债务折扣和发行成本的摊销	5,723			19,056
养老金和其他退休后福利成本	18,911			11,220

收购或有对价的变化	1,180			4,250
持有待售资产的损失	8,420			—
其他	3,788			(39)
经营性资产和负债的变化:
应收账款，净额	30,085			(64,260)
应付账款	(19,719)			6,895
其他经营性资产和负债	(230,527)			(180,080)
经营活动提供的净现金	442,878			462,747
投资活动产生的现金流量:
购置固定资产	(149,054)			(171,464)
出售固定资产的收益	17,016			—
出售业务的收益，扣除所售现金	3,156			—
收购业务，扣除所购现金	—			(663)
投资活动使用的净现金	(128,882)			(172,127)
筹资活动产生的现金流量:
信用额度 - 期限贷款的收益	—			750,000
信用额度 - 期限贷款的偿还	(146,875)			(900,000)
信用额度 - 循环贷款的收益	1,668,500			100,000
信用额度 - 循环贷款的偿还	(1,668,500)			(100,000)
证券化额度的收益	1,151,500			1,628,000
证券化额度的偿还	(1,068,000)			(1,474,000)
发行2029年到期的高级债券的收益	599,796			—
偿还2026年到期的高级债券	(800,000)			—
支付的债务注销现金	(5,478)			—
其他债务偿还	—			(6,165)
支付的债务发行成本	(4,953)			(4,755)
收购或有对价的支付	—			(6,454)
股票期权行权的收益	3,848			3,991
为股权奖励的税务扣款而回购普通股	(4,068)			(3,743)
回购普通股	(43,194)			(112,774)
支付的股息	(69,264)			(66,393)
客户资金的变化	3,340			(19,151)
筹资活动使用的净现金	(383,348)			(211,444)
汇率变动对现金、现金等价物、待售现金、限制性现金和限制性现金待售的影响	3,004			29,706
现金、现金等价物、待售现金、限制性现金和限制性现金待售的净增加（减少）	(66,348)			108,882
年初的现金、现金等价物、待售现金、限制性现金和限制性现金待售	521,127			429,604
期末的现金、现金等价物、待售现金、限制性现金和限制性现金待售	$	454,779		$	538,486

非现金投资活动的补充披露:
固定资产购置的应计成本	$	31,536			$	38,346

附注是这些合并财务报表不可分割的一部分。

CONCENTRIX CORPORATION

未审合并财务报表附注
（货币和股份金额以千为单位，除非另有说明）

第1号注释—背景和列报基础：

背景

Concentrix Corporation（“Concentrix”或“公司”）是一家全球科技和服务领导者，为全球超过2,000家客户提供卓越的品牌体验和数字运营。该公司设计、构建并运行完全集成的端到端解决方案，包括客户体验（“CX”）流程优化、技术创新和设计工程、前台和后台自动化、分析和业务转型服务，服务于五个主要行业领域：科技和消费电子产品；零售、旅行和电子商务；通信和媒体；银行、金融服务业和保险；以及医疗保健。

列报基础（包括合并原则）

公司根据证券交易委员会（“SEC”）的规则和法规编制了附带的中期未经审计的合并财务报表。截至2025年11月30日的金额来自公司2025年11月30日财年结束的年度审计财务报表，该报表包含在公司2025年11月30日财年结束的10-K表格年度报告中。根据这些规则和法规，某些通常在根据美国通用会计原则（“GAAP”）编制的财务报表中包含的信息和脚注披露已被压缩或省略。在管理层看来，附带的未经审计的合并财务报表反映了所有调整，仅包括正常的经常性调整，以公允地反映截至和截至所列期间的公司的财务状况及其经营成果和现金流量。应将这些中期合并财务报表与公司2025年11月30日财年结束的10-K表格年度报告中包含的经审计的年度财务报表及其中的附注一并阅读。所有内部往来余额和交易在合并中均已抵销。

注2—重要会计政策摘要：

有关公司重要会计政策的讨论，请参阅公司2025年11月30日财年结束的10-K表格年度报告。以下将讨论最近采用的会计准则。

信用风险集中

截至2026年8月31日的三个月和九个月以及2025年同期，没有任何客户占公司合并收入的10%以上。

截至2026年8月31日和2025年11月30日，没有任何客户占公司总应收账款余额的10%以上。

应收账款保理

公司与某些客户有保理计划，通过非追索权协议将应收账款出售给金融机构以换取现金。这些应收账款融资协议根据《会计准则汇编860，转移和托管》（“ASC 860”）的规定作为资产的真实销售进行核算。根据ASC 860，应收账款融资安排被视为真实销售，因为公司不保留任何权利或利益，也对这些应收账款没有任何义务。

在某些情况下，公司在发生保理后可能会继续对转让的应收款进行服务。然而，对应收账款的任何服务都不构成重大持续参与。根据应收账款融资安排，金融机构负责与已售应收账款相关的任何信用风险。

在截至2026年8月31日的三个月和九个月内，通过各种保理计划出售的应收账款分别为289,000美元和916,000美元，而在截至2025年8月31日的三个月和九个月内分别为338,000美元和955,000美元，这些金额近似于每个季度已售应收账款的现金回收额。如上所述，公司在某些应收账款保理安排中担任服务方（代表金融机构收取客户付款）。与这些应收账款保理安排相关的服务费用和销售损失对截至2026年8月31日和2025年8月31日的三个月和九个月内公司的财务报表不具有重大影响。截至2026年8月31日和2025年11月30日，分别有98,000美元和119,000美元的应收账款已出售给金融机构，未包含在合并资产负债表中的应收账款（净额）中。

最近发布的会计准则

2023年12月，FASB发布了ASU 2023-09，该准则要求增强所得税披露，包括在税率调节表中对信息进行细分，以及与已缴所得税相关的细分信息。ASU 2023-09中的修正案适用于公司截至2026年11月30日的财年，并将按前瞻性方式应用。公司目前正在评估该更新对其年度合并财务报表披露的影响。

2024年11月，FASB发布了ASU 2024-03，该准则要求在财务报表附注中对某些费用进行细分，以提高对损益表中所列费用科目的透明度。ASU 2024-03适用于公司截至2028年11月30日财年开始的年度报告期间，以及2029财年开始的中期报告期间。允许提前采用。该ASU中的修正案可以按前瞻性或追溯方式应用。公司目前正在评估该更新对其合并财务报表披露的影响。

2025年9月，FASB发布了ASU 2025-06，该准则修订了ASC 350-40, 无形资产 - 商誉和其他 - 内部使用软件中的指南。该修正案对内部使用软件成本的确认和披露框架进行了现代化，取消了之前的“开发阶段”模型，并引入了更加依赖判断的方法。ASU 2025-06适用于公司截至2029年11月30日财年开始的年度报告期间，以及该财年开始的中期报告期间。公司目前正在评估该更新对合并财务报表的影响。

没有其他最近采用或发布的会计准则对合并财务报表产生或预期产生重大影响。

注3—待售资产和负债：

2026年2月，公司与第三方签订了一份具有约束力的协议，以约1500万欧元的价格出售一项非核心业务，该交易需满足常规的交割条件和某些购买价格调整。公司预计该交易将在2026财年第四季度完成。

2026年2月，由于计划出售，该业务的资产和负债被认定为待售资产和负债。截至2026年8月31日，待售资产为212,959美元，主要包括现金、受限现金（涉及为客户持有的资金）和无形资产，而待售负债为182,149美元，主要包括与为客户持有的资金相关的负债。

公司确定，签订上述非核心业务的具有约束力的协议并不符合终止经营的条件，因为该协议既不代表战略转变，也未对公司的运营和财务结果产生重大影响。

由于进行了公允价值分析，公司因待售资产确认了1,528美元和8,420美元的损失，分别针对截至2026年8月31日的三个月和九个月期间。该费用包含在合并损益表的销售、一般及行政费用中。截至2025年8月31日的三个月和九个月期间没有相应的损失。

注4—股权激励：

公司对所有授予员工和董事的股权激励计划（包括限制性股票奖励、限制性股票单位和基于业绩的限制性股票单位）确认股权激励费用，该费用基于估计的公允价值。

2026年1月，公司根据《Concentrix Corporation修订和重述的2020年股票激励计划》（以下简称“2020计划”）授予了213份限制性股票单位和279份基于业绩的限制性股票单位，其中包括对公司的高级管理团队的年度奖励。限制性股票单位的授予日加权平均公允价值为每股41.76美元，并在三年服务期内按比例归属。基于业绩的限制性股票单位的授予日加权平均公允价值为每股37.84美元，如果在截至2028年11月30日的三年期间达到某些财务目标，将予以归属。

公司分别确认了截至2026年8月31日的三个月和2025年同期的三个月的股权激励费用为21,757美元和25,042美元。公司分别确认了截至2026年8月31日的九个月和2025年同期的九个月的股权激励费用为76,579美元和78,504美元。股权激励费用包含在合并损益表的销售、一般及行政费用中。

注5—资产负债表项目：

现金、现金等价物、待售现金、受限现金和待售受限现金：

下表提供了现金、现金等价物、待售现金、受限现金和受限现金等价物在合并资产负债表中的报告金额与合并现金流量表中相同金额的总和之间的调节情况：


	截至
	2026年8月31日		2025年8月31日
现金和现金等价物	$	244,692			$	350,259
待售现金	11,133			—
其他流动资产中的受限现金	33,474			188,227
待售受限现金	165,480			—
现金、现金等价物、待售现金、受限现金和待售受限现金	$	454,779			$	538,486

受限现金和待售受限现金余额主要涉及为客户持有的资金、银行作为银行担保发行的抵押品对现金存款的限制以及政府补助条款和租赁的信用证。截至2026年8月31日和2025年11月30日，受限现金余额和待售受限现金余额中分别有190,722美元和187,139美元涉及为客户持有的资金。截至2026年8月31日和2025年11月30日，公司已在合并资产负债表中的待售流动负债和其他应计负债中记录了与这些资金相关的相应流动负债。

应收账款，净额：

截至2026年8月31日和2025年11月30日，应收账款，净额包括以下内容：


	截至
	2026年8月31日		2025年11月30日
已开票应收账款	$	1,085,321			$	1,102,601
未开票应收账款	908,356			913,863
减：信用损失准备	(23,829)			(17,443)
应收账款，净额	$	1,969,848			$	1,999,021

信用损失准备：

以下是信用损失准备的进展：


	截至三个月末		截至九个月末
	2026年8月31日		2025年8月31日		2026年8月31日		2025年8月31日
期初余额	$	22,640			$	19,561		$	17,443	$	14,307
净增加额	1,278			549			7,384		5,467
注销和重分类	(89)			(724)			(998)		(388)
期末余额	$	23,829			$	19,386		$	23,829	$	19,386

固定资产，净额：

下表总结了截至2026年8月31日和2025年11月30日的固定资产的账面金额及相关累计折旧：


	截至
	2026年8月31日		2025年11月30日
土地	$	19,388			$	28,391
设备、计算机和软件	1,008,043			969,841
家具和设备	176,843			172,154
建筑物、建筑改进和租赁改进	749,492			704,074
在建工程	30,263			39,098
固定资产总额	$	1,984,029			$	1,913,558
减：累计折旧	(1,285,913)			(1,178,008)
固定资产，净额	$	698,116			$	735,550

以下是截至2026年8月31日和2025年11月30日，公司固定资产净额占10%或以上的国家及其他重要集中地：


	截至
	2026年8月31日		2025年11月30日
固定资产，净额：
菲律宾	$	95,533			$	105,475
美国	77,518			93,773
印度	68,214			57,585
法国	46,928			56,386
其他	409,923			422,331
总计	$	698,116			$	735,550

商誉：

公司每年在第四财季的第一天对商誉进行减值测试，并在发生事件或存在情况表明商誉的账面价值可能不再可收回时进行其他测试。商誉在报告单位层面进行减值测试。公司只有一个报告单位，即合并公司。

在2026财年第三季度，公司普通股的市场价格持续下降，导致市值显著低于报告单位的账面价值。这使公司确定发生了触发事件，并在截至2026年8月31日的三个月内进行了定量商誉减值评估。

定量减值评估包括使用收益法和市场法的等权重来估算公司报告单位的公允价值。通过与公司市值的调节来评估该公允价值估计的合理性。收益法根据折现现金流对我们的报告单位应用了公允价值方法。该分析需要重大判断和假设，包括对未来现金流的估计，这取决于内部开发的预测，包括未来收入增长水平和调整后的息税折旧及摊销前利润（“EBITDA”）利润率，并确定加权平均资本成本。我们还应用了市场法。在市场法下，我们使用了指导上市公司法，该方法涉及基于可比上市公司的财务数据和对科技行业近期交易的考虑来计算估值乘数。这些公司和交易得出的乘数表明了市场上的知情投资者愿意为一家公司支付多少。然后将这些乘数应用于我们报告单位的财务数据，以得出公允价值的指示。市场乘数应用于调整后的EBITDA。确定公司报告单位的公允价值需要重大判断、估计和假设。公司认为这些估计和假设是合理的。然而，用于商誉减值测试的判断、假设和估计的未来变化，包括贴现率和税率或未来现金流预测，可能导致公允价值的估计显著不同。由于这些因素以及宏观经济状况的影响，我们单一报告单位的商誉可能更容易受到减值风险的影响。

由于进行了定量分析，确定公司报告单位的账面价值超过其公允价值，导致产生了105万美元的非现金商誉减值费用。该费用记录在截至2026年8月31日的三个月和九个月合并损益表的减值费用项目中。未发现后续减值指标。截至2026年8月31日的三个月和九个月未确认商誉减值费用。

减值损失之前的商誉余额为3,686,667美元。商誉减值损失在税务上不可抵扣。

公司需要在合并财务报表中对按非经常性基础计量的各类资产和负债的公允价值计量提供额外的披露（包括减值评估）。商誉减值是使用第三级公允价值输入值进行估值的，这些输入值本质上是不可观察的，并包括对未来现金流的内部估计（收入法）。这些不可观察输入值中的任何一项显著增加（减少）都会导致公允价值计量显著提高（降低）。

下表总结了截至2026年8月31日和2025年8月31日的九个月期间公司商誉的变化：


	截至九个月结束
	2026年8月31日		2025年8月31日
期初余额	$	3,671,746			$	4,986,967
收购及相关调整	(154)			2,353
待售资产	(9,621)			—
减值损失	(1,050,000)			—
外币折算	24,696			202,245
期末余额	$	2,636,667			$	5,191,565

无形资产，净额：

下表总结了截至2026年8月31日和2025年11月30日的无形资产的账面金额及相关累计摊销：


	截至2026年8月31日		截至2025年11月30日
	总金额		累计摊销		净金额		总金额	累计摊销		净金额
客户关系	$	3,736,378			$	(2,092,597)		$	1,643,781		$	3,736,591		$	(1,822,119)	$	1,914,472
技术	79,741			(74,640)			5,101		79,603		(64,089)		15,514
商标	123,738			(121,220)			2,518		123,484		(93,132)		30,352
不竞争协议	2,200			(2,200)			—		2,200		(2,200)		—
总计	$	3,942,057			$	(2,290,657)		$	1,651,400		$	3,941,878		$	(1,981,540)	$	1,960,338

公司无形资产的预计未来摊销费用如下：


截至11月30日的财年
2026年（剩余三个月）	$	85,616
2027	296,964
2028	251,717
2029	209,526
2030	177,582
之后	629,995
总计	$	1,651,400

其他综合损失累计：

累计其他综合损失（“AOCL”）的组成部分（税后）如下：


	截至2026年8月31日和2025年8月31日的三个月
	未确认的收益（损失）定义福利计划，税后		未实现的收益（损失）对冲，税后		外币折算调整及其他，税后		总计
截至2025年5月31日的余额	$	(4,166)			$	5,740		$	(224,606)	$	(223,032)
重新分类前的其他综合收益（损失）	(14)			(13,074)			27,548		14,460
从其他综合收益（损失）中重新分类的收益	—			(545)		—		(545)
截至2025年8月31日的余额	$	(4,180)			$	(7,879)		$	(197,058)	$	(209,117)

截至2026年5月31日的余额	$	(20,401)			$	(40,133)		$	(272,411)	$	(332,945)
重新分类前的其他综合收益（损失）	1,409			6,281		39,254		46,944
从其他综合收益（损失）中重新分类的损失	476			9,621		—		10,097
截至2026年8月31日的余额	$	(18,516)			$	(24,231)		$	(233,157)	$	(275,904)


	截至2026年8月31日和2025年8月31日的九个月
	未确认的收益（损失）定义福利计划，税后		未实现的收益（损失）对冲，税后		外币折算调整，税后		总计
2024年11月30日的余额	$	(5,283)			$	(25,881)		$	(383,149)	$	(414,313)
重新分类前的其他综合收益（亏损）	1,103			14,375			186,091		201,569
从其他综合收益（亏损）中重新分类的亏损	—			3,627		—		3,627
2025年8月31日的余额	$	(4,180)			$	(7,879)		$	(197,058)	$	(209,117)

2025年11月30日的余额	$	(1,581)			$	(22,641)		$	(228,240)	$	(252,462)
重新分类前的其他综合收益（亏损）	(20,272)			(23,825)		(4,917)		(49,014)
从其他综合收益（亏损）中重新分类的亏损	3,337			22,235		—		25,572
2026年8月31日的余额	$	(18,516)			$	(24,231)		$	(233,157)	$	(275,904)

参见第6号附注—衍生工具，其中说明了从其他累计其他综合损失重新分类至合并损益表的现金流量对冲收益和损失的位置。定义福利计划精算（收益）损失的摊销重新分类在合并损益表的“其他费用（收益），净额”中记录。

第6号附注—衍生工具：

在正常业务过程中，公司面临外汇风险和信用风险。公司进行交易，并拥有以法律实体功能货币以外的货币计价的货币性资产和负债。

公司可能会签订远期合约、期权合约或其他衍生工具，以对冲预期未来现金流、收益、某些非美国法律实体的净投资以及某些现有资产和负债的部分风险。然而，公司可能出于多种原因选择不对某些风险进行对冲，包括但不限于会计考虑和对冲特定风险的经济成本。不能保证对冲会抵消外汇汇率或利率波动带来的财务影响的大部分。通常，公司不使用衍生工具来对冲股权风险和信用风险。公司的对冲计划不用于交易或投机目的。

所有衍生工具均按公允价值在合并资产负债表中确认。衍生工具公允价值的变化在合并损益表中记录，或作为合并资产负债表中AOCL的一部分，如下所述。公司现金流量对冲和公允价值衍生工具的现金流量影响反映在合并现金流量表的经营活动部分。

现金流量对冲

为减轻外汇汇率波动对毛利的影响，该公司某些以美元以外的货币为功能货币的法律实体可能会对部分未以实体功能货币计价的预测收入或成本进行对冲。这些工具的到期日各不相同，最晚至2028年8月。现金流量对冲的收益和损失计入其他综合收益（AOCL），直到对冲项目被确认为收益时为止。与外币成本现金流量对冲相关的递延收益和损失，在相关成本被确认的同一期间作为“收入成本”或“销售、一般及行政费用”的组成部分予以确认。如果预计最初确定的对冲交易不会在最初确定的时间段内或随后的两个月时间段内发生，则必须取消指定某些作为现金流量对冲的衍生工具。与这些衍生工具相关的AOCL中的递延收益和损失将在取消指定的期间转入收益。此类衍生工具的公允价值后续变动若未重新指定为其他交易的对冲，则计入收益。

未指定的衍生工具

公司使用短期远期合约来对冲其法律实体所拥有的资产或负债中以非功能货币计价的外汇风险。这些合约未被指定为对冲工具，到期或结算期限在12个月内。未被指定为对冲工具的衍生工具根据其相关的财务报表项目，按公允价值调整并计入收益。

利率互换和交叉货币利率互换

在2023财年，公司与某些金融机构签订了总面值为50万美元的交叉货币互换安排，其中包括公司2026年到期的6.650%高级票据总面值25万美元，以及公司2028年到期的6.600%高级票据总面值25万美元。作为2026年2月发生的高级票据再融资的一部分（详见注释8），公司与某些金融机构延长了交叉货币互换安排，总面值相当于公司2029年到期的6.500%高级票据总面值25万美元（此前与公司2026年到期的6.650%高级票据总面值25万美元相关）。

除了将公司部分利息支付的货币与公司以欧元计价的现金流对齐外，这些安排结合内部贷款和额外的内部交叉货币利率互换安排，有效地将公司2028年到期的6.600%高级票据总面值25万美元和公司2029年到期的6.500%高级票据总面值25万美元转换为合成的固定欧元债务，加权平均利率均为5.18%。

交叉货币利率互换被指定为公允价值对冲。

2025年9月，与发行总额为75万美元的延期付款定期贷款相关，公司签订了一项利率互换协议，以固定与该债务相关的利息部分，从而形成合成固定利率债务。在签订利率互换协议的同时，公司还与某些金融机构签订了交叉货币互换安排，总名义金额相当于75万美元。除了将公司的利息支付货币与以欧元计价的现金流相匹配外，这些安排结合内部贷款和额外的内部交叉货币利率互换安排，有效地将延期付款定期贷款转换为加权平均利率分别为3.43%的三年期贷款和3.69%的五年期贷款的合成固定欧元债务。

利率互换被指定为现金流量对冲，交叉货币互换被指定为公允价值对冲。

合并资产负债表中衍生工具的公允价值

公司衍生工具的公允价值在第7号附注—公允价值计量中披露，并在下面的表格中总结：


	公允价值日期
资产负债表项目	2026年8月31日		2025年11月30日
指定为公允价值对冲的衍生工具：
交叉货币利率互换（名义价值）	$	1,096,679			$	1,112,706
其他资产	2,139			5,343
其他流动负债和其他长期负债	50,469			49,319
指定为现金流量对冲的衍生工具：
利率互换（名义价值）	$	731,250			$	750,000
其他长期资产	15,980			—
其他长期负债	—			3,357
外汇远期合约（名义价值）	$	1,039,379			$	1,049,896
其他流动资产和其他资产	961			914
其他应计负债和其他长期负债	46,534			21,424

交易量

外汇远期合约的名义金额代表到期时将买入或卖出的外币总额，主要包括菲律宾比索和印度卢比。未到期衍生工具的名义金额提供了一个衡量未到期交易量的指标，不代表公司对信用或市场损失的暴露金额。随着汇率的变化，公司对信用损失和市场风险的暴露将随时间而变化。

衍生工具对其他综合收益和合并损益表的影响

下表显示了公司指定为现金流量对冲、公允价值对冲以及未指定为对冲工具的衍生工具在其他综合收益（损失）（“OCI”）和合并损益表中的收益和损失（税前）的所在位置：


		截至		截至
	损益表中的收益（损失）所在位置	2026年8月31日		2025年8月31日		2026年8月31日		2025年8月31日
作为现金流量和公允价值对冲工具的衍生工具：
在其他综合收益中确认的损益：
外汇远期合约		$	(4,900)			$	(22,989)		$	(54,868)	$	12,892
交叉货币利率互换		3,416			4,076			(2,230)		4,758
利率互换		6,520			—			19,337		—
总计		$	5,036			$	(18,913)		$	(37,761)	$	17,650

从其他综合收益转入损益的损益：
外汇远期合约
从其他综合收益转入损益的损益	销售成本	$	(9,395)			$	564		$	(21,249)	$	(3,576)
从其他综合收益转入损益的损益	销售、一般及行政费用	(3,502)			167			(8,557)		(1,286)
总计		$	(12,897)			$	731		$	(29,806)	$	(4,862)

未作为对冲工具的衍生工具：
从外汇远期合约中确认的损益，净额 (1)	其他支出（收入），净额	$	—			$	5,118		$	—	$	5,858

(1) 这些损益基本上抵消了由于以非功能性货币计价的资产和负债变动所产生的货币损益。

没有重大金额的损益被排除在有效性评估之外。预计在未来十二个月内正常业务过程中从其他综合收益转入收益的现有净损失为22,406美元。

衍生工具的抵销

在合并资产负债表中，公司不将衍生品资产与主协议净额结算安排中的负债进行抵销。

衍生金融工具的信用风险敞口仅限于对手方在合同下的义务超过公司对对手方的义务的金额（如有）。公司通过从信用评级高的有限数量金融机构中选择对手方来管理潜在的信用损失风险。

注7—公允价值计量：

公允价值定义为退出价格，即在计量日，市场参与者之间有序交易中出售资产所获得的金额或转移负债所支付的金额。权威指南建立了用于计量公允价值的输入值的层次结构，通过要求在可用时使用最可观测的输入值，最大化可观测输入值的使用并最小化不可观测输入值的使用。可观测输入值来自独立于公司的来源。不可观测输入值反映了公司关于市场参与者在估值资产或负债时将使用的因素的假设，这些假设是根据具体情况下的最佳可用信息制定的。财务资产和负债在估值层次结构中的分类基于对公允价值计量至关重要的最低层次的输入值。该层次结构分为三个级别：

级别1：在计量日，可获得的活跃市场中相同、无限制的资产或负债的未经调整的报价；

级别2：非活跃市场中的报价，或对于资产或负债的实质上整个期限而言，可以直接或间接观察到的输入值；以及

级别3：需要既对公允价值计量至关重要又不可观测的输入值的报价或估值技术（即，几乎没有或没有市场活动的支持）。

下表总结了公司按公允价值持续计量的投资和金融工具的估值：


	截至2026年8月31日		截至2025年11月30日
			公允价值计量类别				公允价值计量类别
	总计		第1级		第2级		第3级	总计		第1级	第2级		第3级
按公允价值计量的资产：
现金及现金等价物，包括待售现金	$	255,825			$	255,825		$	—		$	—			$	329,404		$	329,404	$	—	$	—
受限现金，包括待售受限现金	198,954			198,954			—		—		191,723			191,723			—		—
远期外汇汇率合约	961			—			961		—		914			—			914		—
交叉货币利率互换	2,139			—			2,139		—		5,343			—			5,343		—
利率互换	15,980			—			15,980		—		—			—			—		—
按公允价值计量的负债：
远期外汇汇率合约	46,534			—			46,534		—		21,424			—			21,424		—
交叉货币利率互换	50,469			—			50,469		—		49,319			—			49,319		—
利率互换	—			—			—		—		3,357			—			3,357		—
收购或有对价	5,896			—			—		5,896		7,866			—			—		7,866
按非公允价值计量的负债：
长期债务（高级债券）
公允价值	1,930,098			—			1,930,098		—		2,184,727			—			2,184,727		—
账面金额	1,938,470			—			—		—		2,139,537			—			—		—

公司现金及现金等价物，包括待售现金，主要包括现金及银行存款、货币市场基金证券以及期限为三个月或以下的定期存款。由于现金等价物接近到期日，其账面价值近似于公允价值。受限现金余额，包括待售受限现金，主要涉及客户资金。由于受限现金余额具有高度流动性且期限较短，其账面价值近似于公允价值。公司不对此类金融工具的报价市场价进行调整。远期外汇合约的公允价值基于外币即期汇率、远期汇率和波动率进行计量。长期外币外汇合约的公允价值基于活跃市场中类似资产和负债的报价进行计量，并参考类似金融工具进行估值，根据合约特定条款进行调整。交叉货币利率互换的公允价值通过基于可观察输入（而非报价市场价）的市场方法确定，包括合约条款、利率、货币汇率和其他市场因素。收购或有对价的估计公允价值通过蒙特卡洛模拟模型确定。输入包括报告期末Concentrix普通股的收盘价、Concentrix特定的历史股权波动率和无风险利率。该负债的输入值不可观察，因此被归类为公允价值层级的第3级。

该负债的公允价值变动在合并损益表的其他费用（收入）净额中确认。

截至2026年8月31日和2025年11月30日，非履约风险对衍生工具公允价值的影响不重大。

由于账款应收和应付项目的到期日较短且利率具有可变性，其账面价值接近公允价值。公司高级信用额度下的定期贷款余额以及公司应收账款证券化额度（“证券化额度”）下的未偿余额的账面价值接近其公允价值，因为它们的利率与现有市场利率相似。2026年票据、2028年票据、2029年票据和2033年票据（如第8号注释中定义）的公允价值基于活跃市场中的报价，并被归类为公允价值层级的第2级。公司不对这些金融工具的报价市场价进行调整。

截至2026年8月31日及2025年8月31日的三个月及九个月期间，公允价值计量类别层级之间没有转移。

第8号注释—借款：

借款包括以下内容：


	截至
	2026年8月31日		2025年11月30日

信用额度-定期贷款部分的当前部分	$	450,000			$	65,625

长期债务的当前部分	$	450,000			$	65,625

6.650% 2026年高级票据	$	—			$	800,000
6.600% 2028年高级票据	800,000			800,000
6.500% 2029年高级票据	600,000			—
6.850% 2033年高级票据	550,000			550,000
信用额度-定期贷款部分	1,368,750			1,900,000
证券化额度	620,500			537,000
长期债务，扣除未摊销债务折扣和发行成本	3,939,250			4,587,000
减：未摊销债务折扣和发行成本	(13,877)			(14,111)
长期债务，净额	$	3,925,373			$	4,572,889

高级票据

On February 24, 2026, the Company issued and sold $600,000 aggregate principal amount of 6.500% Senior Notes due 2029 (the “2029 Notes”). The 2029 Notes were sold in a registered public offering pursuant to the Company’s Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated February 12, 2026, to a Prospectus dated July 17, 2023.

The Company used the net proceeds from the sale of the 2029 Notes, together with other available funds, to redeem $600,000 of its 6.650% Senior Notes due 2026 (the “2026 Notes”), of which $800,000 aggregate principal amount was outstanding immediately before giving effect to such redemption. During the three and nine months ended August 31, 2026, the Company recorded debt extinguishment costs of $0 and $6,268, respectively, associated with the early redemption of a portion of the 2026 Notes. These costs are included in interest expense and finance charges, net on the consolidated statement of operations. There were no such costs in the three and nine months ended August 31, 2025. On August 3, 2026, the Company redeemed all $200,000 of the remaining aggregate principal amount of the 2026 Notes.

On August 2, 2023, the Company issued and sold (i) $800,000 aggregate principal amount of 6.600% Senior Notes due 2028 (the “2028 Notes”) and (ii) $550,000 aggregate principal amount of 6.850% Senior Notes due 2033 (the “2033 Notes” and, together with the 2028 Notes and 2029 Notes, the “Senior Notes”). The 2028 Notes and 2033 Notes were sold in a registered public offering pursuant to the Company’s Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023.

The Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of August 2, 2023 (the “Base Indenture”), between Concentrix and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by a second supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2028 Notes, a third supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2033 Notes, and a fourth supplemental indenture dated as of February 24, 2026 between Concentrix and the Trustee relating to the 2029 Notes (such supplemental indentures, together with the Base Indenture, the “Indenture”). The Indenture contains customary covenants and restrictions, including covenants that limit Concentrix Corporation’s and certain of its subsidiaries’ ability to create or incur liens on shares

of stock of certain subsidiaries or on principal properties, engage in sale/leaseback transactions or, with respect to Concentrix Corporation, consolidate or merge with, or sell or lease substantially all its assets to, another person. The Indenture also provides for customary events of default.

The interest rate payable on the 2029 Notes is subject to adjustment from time to time if any of Moody’s, S&P or Fitch (in each case, as defined in the Indenture) (or, in each case, a substitute rating agency therefor), downgrades (or subsequently upgrades) the debt rating applicable to the 2029 Notes.

Restated Credit Agreement

On April 11, 2025, Concentrix Corporation entered into an Amendment and Restatement Agreement (the “Amendment Agreement”) with the lenders party thereto, Bank of America, N.A., as the administrative agent, the L/C issuer and the swing line lender, and JPMorgan Chase Bank, N.A., as the existing administrative agent, the existing L/C issuer and the existing swing line lender, to amend and restate the Company’s Amended and Restated Credit Agreement dated as of April 21, 2023 (the “Existing Credit Agreement” and, as so amended and restated by the Amendment Agreement, the “Restated Credit Agreement”). The Amendment Agreement appoints Bank of America, N.A. as the Administrative Agent under the Restated Credit Agreement, as successor to JPMorgan Chase Bank, N.A.

The Restated Credit Agreement provides for (i) an unsecured three-year term loan facility in an aggregate principal amount not to exceed $750,000 (the “New Term Loan Facility”), (ii) an unsecured three-year delayed draw term loan facility in an aggregate principal amount not to exceed $250,000 (the “3-Year DD Term Loan Facility”), which was drawn in full in September 2025, (iii) an unsecured five-year delayed draw term loan facility in an aggregate principal amount not to exceed $500,000 (the “5-Year DD Term Loan Facility”, and together with the 3-Year DD Term Loan Facility, the “Delayed Draw Term Loans”), which was drawn in full in September 2025, and (iv) a senior unsecured revolving credit facility not to exceed an aggregate principal amount of $1.1 billion (the “Revolving Credit Facility”). The Restated Credit Agreement also provided for the conversion and continuation of loans in an aggregate principal amount of $750,000 under the Company’s prior unsecured term loan facility into loans under an unsecured term loan facility with the same maturity as such converted and continued loans (the “Continued Term Loan Facility”). Aggregate borrowing capacity under the Restated Credit Agreement may be increased by up to an additional $500,000 by increasing the amount of the Revolving Credit Facility commitments or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Restated Credit Agreement, including the receipt of additional commitments for such increase(s).

The maturity date of the New Term Loan Facility and the 3-Year DD Term Loan Facility is September 30, 2028. The maturity date of the 5-Year DD Term Loan Facility and the Revolving Credit Facility is April 11, 2030, subject, in the case of the Revolving Credit Facility, to two one-year extensions upon Concentrix’ prior notice to the lenders and the agreement of the lenders to extend such maturity date. The maturity date of the Continued Term Loan Facility is December 27, 2026.

The outstanding principal amount of each of the New Term Loan Facility and the Delayed Draw Term Loans is payable in quarterly installments in an amount equal to 1.25% of the existing principal balance of the applicable term loan, commencing on September 30, 2025, in the case of the New Term Loan Facility, and on March 31, 2026, in the case of the Delayed Draw Term Loans, with the outstanding principal amount of the New Term Loan Facility, the Delayed Draw Term Loans, and the Continued Term Loan Facility due in full on the applicable maturity date.

Borrowings under the Restated Credit Agreement bear interest, in the case of SOFR rate loans, at a per annum rate equal to the applicable SOFR rate (but not less than 0.00%), plus an applicable margin, based on the credit ratings of Concentrix’ senior unsecured non-credit enhanced long-term indebtedness for borrowed money plus a credit spread adjustment to the SOFR rate of 0.10%. The applicable margin ranges from 1.000% to 1.500% for the New Term Loan Facility and the 3-Year DD Term Loan Facility, 1.100% to 1.600% for the 5-Year DD Term Loan Facility, 1.125% to 2.000% for the Continued Term Loan Facility, and 0.875% to 1.500% for the Revolving Credit Facility. Borrowings under the Restated Credit Agreement that are base rate loans bear interest at a per annum rate

(but not less than 1.0%) equal to (i) the greatest of (A) the “prime rate” (as defined in the Restated Credit Agreement) in effect on such day, (B) the Federal Funds Rate (as defined in the Restated Credit Agreement) in effect on such day plus 0.500%, and (C) the adjusted one-month term SOFR rate plus 1.0% per annum, plus (ii) an applicable margin, based on the credit ratings of Concentrix’ senior unsecured non-credit enhanced long-term indebtedness for borrowed money. The applicable margin ranges from 0.000% to 0.500% for the New Term Loan Facility, the 3-Year DD Term Loan Facility, and the Revolving Credit Facility, 0.100% to 0.600% for the 5-Year DD Term Loan Facility, and 0.125% to 1.000% for the Continued Term Loan Facility.

The Restated Credit Agreement contains certain loan covenants that are customary for credit facilities of this type and that restrict the ability of Concentrix and its subsidiaries to take certain actions, including the creation of liens, mergers, consolidations or other fundamental changes to the nature of their business, and, solely with respect to subsidiaries of Concentrix, incurrence of indebtedness. In addition, the Restated Credit Agreement contains financial covenants that require Concentrix to maintain at the end of each fiscal quarter, (i) a consolidated leverage ratio (as defined in the Restated Credit Agreement) not to exceed 3.75 to 1.00 (or for certain periods following certain qualified acquisitions, 4.25 to 1.00) and (ii) a consolidated interest coverage ratio (as defined in the Restated Credit Agreement) no less than 3.00 to 1.00. The Restated Credit Agreement also contains various customary events of default, including payment defaults, defaults under certain other indebtedness, and a change of control of Concentrix.

As of August 31, 2026 and November 30, 2025, the outstanding principal balance on the Company’s term loans was $1,818,750 and $1,965,625, respectively. During the three and nine months ended August 31, 2026, the Company made required quarterly principal payments of $18,750 and $46,875, respectively, on the term loans. In addition, during the nine months ended August 31, 2026, the Company voluntarily prepaid $100,000 of the principal balance on the term loans, without penalty.

None of Concentrix’ subsidiaries guarantee the obligations under the Restated Credit Agreement.

As of August 31, 2026 and November 30, 2025, no amounts were outstanding under the Company’s Revolving Credit Facility.

Securitization Facility

Under the Securitization Facility, Concentrix Corporation and certain of its U.S. based subsidiaries (the “Originators”) sell or otherwise transfer all of their accounts receivable to a special purpose bankruptcy-remote subsidiary of the Company (the “Borrower”) that grants a security interest in the receivables to the lenders in exchange for available borrowings. On March 20, 2026, the Company entered into an amendment to the Securitization Facility to increase the commitment of the lenders to provide available borrowings from up to $700,000 to up to $750,000 and extend the termination date of the Securitization Facility from January 14, 2027 to March 20, 2028. Borrowings that are funded by certain lenders through such lenders’ issuance of commercial paper bear interest at the applicable commercial paper rate plus a spread of 0.75%. Other borrowings bear interest at a per annum rate equal to the applicable SOFR rate (subject to a SOFR related adjustment of 0.10%), plus a spread of 0.90%.

The amount received under the Securitization Facility is recorded as debt on the Company’s consolidated balance sheets. Borrowing availability under the Securitization Facility may be limited by the Company’s accounts receivable balances, changes in the credit ratings of the clients comprising the receivables, client concentration levels in the receivables, and certain characteristics of the accounts receivable being transferred (including factors tracking performance of the accounts receivable over time).

The Securitization Facility contains various affirmative and negative covenants, including a consolidated leverage ratio covenant that is consistent with the Restated Credit Agreement and customary events of default, including payment defaults, defaults under certain other indebtedness, a change in control of Concentrix Corporation, and certain events negatively affecting the overall credit quality of the transferred accounts receivable.

The Borrower’s sole business consists of the purchase or acceptance through capital contributions of the receivables and related security from the Originators and the subsequent retransfer of or granting of a security interest in such receivables and related security to the administrative agent under the Securitization Facility for the benefit of the lenders. The Borrower is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of the Borrower’s assets prior to any assets or value in the Borrower becoming available to the Borrower’s equity holders, and the assets of the Borrower are not available to pay creditors of the Company and its subsidiaries.

Covenant compliance

As of August 31, 2026 and November 30, 2025, Concentrix was in compliance with all covenants for the above arrangements.

NOTE 9—EARNINGS (LOSS) PER SHARE:

Basic and diluted earnings (loss) per common share (“EPS”) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security.


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
Basic earnings (loss) per common share:
Net income (loss)	$	(988,113)			$	88,110		$	(911,248)	$	200,460
Less: net income allocated to participating securities (1)	(1,116)			(4,219)			(3,461)		(9,714)
Net income (loss) attributable to common stockholders	$	(989,229)			$	83,891		$	(914,709)	$	190,746

Weighted-average number of common shares - basic	60,910			62,598			61,011		63,325

Basic earnings (loss) per common share	$	(16.24)			$	1.34		$	(14.99)	$	3.01

Diluted earnings (loss) per common share:
Net income (loss)	$	(988,113)			$	88,110		$	(911,248)	$	200,460
Less: net income allocated to participating securities (1)	(1,116)			(4,214)			(3,461)		(9,709)
Net income (loss) attributable to common stockholders	$	(989,229)			$	83,896		$	(914,709)	$	190,751

Weighted-average number of common shares - basic	60,910			62,598			61,011		63,325
Effect of dilutive securities:
Stock options and certain restricted stock units (2)	—			104			—		54
Weighted-average number of common shares - diluted	60,910			62,702			61,011		63,379

Diluted earnings (loss) per common share	$	(16.24)			$	1.34		$	(14.99)	$	3.01

(1) Restricted stock awards and certain restricted stock units granted to employees by the Company are considered participating securities.

(2)As a result of the Company’s net loss for the three and nine months ended August 31, 2026, the effect of stock options and other certain restricted stock units would be antidilutive. As a result, they have been excluded from the diluted EPS calculation for the three and nine months ended August 31, 2026.

NOTE 10—REVENUE:

Disaggregated revenue

The following table presents the Company’s revenue disaggregated by primary industry verticals:


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
Industry vertical:
Technology and consumer electronics	$	603,512			$	670,573		$	1,862,845	$	1,990,984
Retail, travel and e-commerce	662,612			622,822			1,952,770		1,790,502
Communications and media	381,905			411,229			1,168,176		1,175,192
Banking, financial services and insurance	432,463			384,449			1,286,456		1,133,657
Healthcare	145,173			174,106			475,872		540,297
Other	228,014			220,074			670,424		642,214
Total	$	2,453,679			$	2,483,253		$	7,416,543	$	7,272,846

NOTE 11—RESTRUCTURING-RELATED EXPENSES:

The Company recorded severance costs of $31,429 and $91,650 for the three and nine months ended August 31, 2026, respectively, primarily related to the Company’s cost reduction initiatives. These actions affected approximately 30,000 employees. Severance costs were recognized in cost of revenue and selling, general and administrative expenses in the consolidated statement of operations based on the functions of the affected employees. Severance costs included in cost of revenue were $27,874 and $70,545 for the three and nine months ended August 31, 2026, respectively, and severance costs included in selling, general and administrative expenses were $3,555 and $21,105 for the same periods. As of August 31, 2026, the remaining liability for these severance-related actions was $18,804 and was included in other accrued liabilities. The remaining cash payments are expected to be substantially completed by November 30, 2026.

Severance costs recorded during the three and nine months ended August 31, 2025 were not material.

NOTE 12—PENSION AND EMPLOYEE BENEFITS PLANS:

The Company has a 401(k) plan in the United States under which eligible employees may contribute up to the maximum amount as provided by law. Employees become eligible to participate in the 401(k) plan on the first day of the month after their employment date. The Company may make discretionary contributions under the plan. Employees in most of the Company’s non-U.S. legal entities are covered by government mandated defined contribution plans. During the three and nine months ended August 31, 2026, the Company contributed $34,961 and $100,947, respectively, to defined contribution plans. During the three and nine months ended August 31, 2025, the Company contributed $32,903 and $95,131, respectively, to defined contribution plans.

Defined Benefit Plans

For eligible employees in the United States, the Company maintains a frozen defined benefit pension plan (“the cash balance plan”), which includes both a qualified and non-qualified portion. The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund.

The Company maintains funded or unfunded defined benefit pension or retirement plans for certain eligible employees in the Philippines, Malaysia, India, and France. Benefits under these plans are primarily based on years of service and compensation during the years immediately preceding retirement or termination of participation in the plans.

Net benefit costs related to defined benefit plans were $5,904 and $18,911, during the three and nine months ended August 31, 2026, respectively. Net benefit costs related to defined benefit plans were $3,510 and $11,220, during the three and nine months ended August 31, 2025, respectively. Service costs are recorded in cost of revenue and selling, general and administrative expenses, while the remaining components of total pension costs are recorded within other expense (income), net in the consolidated statements of operations. On an aggregate basis, the plans were underfunded by $101,582 and $81,064 at August 31, 2026 and November 30, 2025, respectively.

NOTE 13—INCOME TAXES:

Income taxes consist of current and deferred tax expense resulting from income earned in domestic and international jurisdictions. The effective tax rates for the three and nine months ended August 31, 2026 and 2025 were impacted by the geographic mix of worldwide income and certain discrete items.

The liability for unrecognized tax benefits was $74,127 and $95,034 at August 31, 2026 and November 30, 2025, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of August 31, 2026 and November 30, 2025, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $74,127 and $88,130, respectively. This amount includes net interest and penalties of $10,820 and $12,860 for the respective periods. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits could decrease between approximately $7,537 and $12,575 in the next twelve months; however, actual developments in this area could differ from those currently expected.

NOTE 14— LEASES:

The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2036. The Company’s finance leases are not material.

The following table presents the various components of operating lease costs:


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
Operating lease cost	$	83,881			$	85,333		$	255,237	$	239,592
Short-term lease cost	17,348			15,111			49,325		52,434
Variable lease cost	15,022			13,030			44,798		39,355
Sublease income	(449)			(553)			(1,370)		(2,707)
Total operating lease cost	$	115,802			$	112,921		$	347,990	$	328,674

The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of August 31, 2026:


Fiscal Years Ending November 30,
2026 (remaining three months)	$	84,910
2027	299,819
2028	247,544
2029	181,459
2030	115,659
Thereafter	137,167
Total payments	1,066,558
Less: imputed interest*	160,911
Total present value of lease payments	$	905,647

*Imputed interest represents the difference between undiscounted cash flows and discounted cash flows.

The following amounts were recorded in the consolidated balance sheets related to the Company’s operating leases:


		As of
Description	Balance Sheet location	August 31, 2026		November 30, 2025
Operating lease ROU assets	Operating lease right-of-use assets, net	$	864,749			$	857,025
Current operating lease liabilities	Other accrued liabilities	253,052			256,739
Non-current operating lease liabilities	Other long-term liabilities	652,595			641,444

The following table presents supplemental cash flow information related to the Company’s operating leases. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:


	Nine Months Ended
	August 31, 2026		August 31, 2025
Cash paid for amounts included in the measurement of lease liabilities	$	250,026			$	257,661
Non-cash ROU assets obtained in exchange for lease liabilities	202,215			182,752

The weighted-average remaining lease term and discount rate as of August 31, 2026 and November 30, 2025 were as follows:


	As of
	August 31, 2026		November 30, 2025
Weighted-average remaining lease term (years)	4.20		4.20
Weighted-average discount rate	7.35	%		6.85	%

NOTE 15—COMMITMENTS AND CONTINGENCIES:

From time to time, the Company receives notices from third parties, including customers and suppliers, seeking indemnification, payment of money, or other actions in connection with claims made against them. Also, from time to time, the Company has been involved in various bankruptcy preference actions where the Company was a supplier to the companies now in bankruptcy. In addition, the Company is subject to various other claims, both asserted and unasserted, that arise in the ordinary course of business. The Company evaluates these claims and records the related liabilities. It is possible that the liabilities ultimately incurred by the Company could differ from the amounts recorded.

The Company does not believe that the above commitments and contingencies will have a material adverse effect on the Company’s results of operations, financial position or cash flows.

NOTE 16—STOCKHOLDERS’ EQUITY:

Share repurchase program

In September 2021, the Company’s board of directors authorized the repurchase of up to $500,000 of the outstanding shares of Concentrix common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. In January 2025, the Company’s board of directors extended the share repurchase program by authorizing an increase of the amount remaining for share repurchases under the existing share repurchase authorization to $600,000. The repurchase program has no termination date and may be suspended or discontinued at any time.

During the three months ended August 31, 2026, there were no repurchases of the Company’s common stock under the share repurchase program. During the nine months ended August 31, 2026, under the share repurchase program, the Company repurchased 1,081 shares of its common stock for an aggregate purchase price of $43,194. During the three and nine months ended August 31, 2025, under the share repurchase program, the Company repurchased 783 and 2,247 shares, respectively, of its common stock for an aggregate purchase price of $41,600 and $112,774, respectively. The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes. At August 31, 2026, approximately $396,602 remained available for share repurchases under the existing authorization from the Company’s board of directors.

Dividends

During fiscal years 2026 and 2025, the Company paid the following dividends per share approved by the Company’s board of directors:


Announcement Date	Record Date	Per Share Dividend Amount	Payment Date
January 15, 2025	January 31, 2025	$0.33275	February 11, 2025
March 26, 2025	April 25, 2025	$0.33275	May 6, 2025
June 26, 2025	July 25, 2025	$0.33275	August 5, 2025
September 25, 2025	October 24, 2025	$0.36	November 4, 2025
January 13, 2026	January 30, 2026	$0.36	February 10, 2026
March 24, 2026	April 24, 2026	$0.36	May 5, 2026
June 29, 2026	July 24, 2026	$0.36	August 4, 2026

On September 29, 2026, the Company announced a cash dividend of $0.37 per share to stockholders of record as of October 23, 2026, payable on November 3, 2026.

NOTE 17—SEGMENT REPORTING:

The Company operates as one operating segment. The Company's chief operating decision maker (“CODM”) is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income and operating income to assess financial performance, allocate resources, and make key operating decisions. The following table presents selected financial information, including significant segment expenses, with respect to the Company’s single operating segment for the three and nine months ended August 31, 2026 and 2025.


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
Revenue	$	2,453,679			$	2,483,253		$	7,416,543	$	7,272,846
Cost of revenue (1)	1,579,963			1,621,309			4,815,496		4,699,730
Selling, general and administrative expenses (2)	510,762			502,742			1,542,537		1,482,383
Acquisition-related, integration and restructuring expenses	42,493			18,619			142,867		53,451
Share-based compensation expense	21,757			25,042			76,579		78,504
Amortization of intangible assets	100,908			111,779			306,421		326,556
Impairment charge	1,050,000			—			1,050,000		—
Loss on held for sale	1,528			—			8,420		—
Depreciation expense	56,573			56,778			170,548		168,026
Operating income (loss)	(910,305)			146,984			(696,325)		464,196
Interest expense and finance charges, net	64,856			72,014			208,247		220,414
Other expense (income), net	4,603			(36,474)			(23,014)		(20,175)
Provision for income taxes	8,349			23,334			29,690		63,497
Net income (loss)	$	(988,113)			$	88,110		$	(911,248)	$	200,460

(1) Exclusive of depreciation expense and acquisition-related, integration and restructuring expenses.

(2) Exclusive of impairment charge, loss on held for sale, depreciation expense, amortization of intangible assets, acquisition-related, integration and restructuring expenses, and share-based compensation expense.

For the three and nine months ended August 31, 2026, acquisition-related, integration and restructuring expenses primarily included restructuring costs associated with the Company’s recent cost reduction initiatives, including severance and employee-related costs. Restructuring expenses also included costs associated with facilities consolidation, including lease terminations. For the three and nine months ended August 31, 2025, acquisition-related, integration and restructuring costs primarily included integration costs associated with the Company’s combination with Marnix Lux SA (“Webhelp”) and restructuring expenses. These costs primarily included severance and employee-related costs, costs associated with facilities consolidation, including lease terminations to integrate the businesses, and information technology system consolidation costs.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and the notes to those consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q, as well as “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our audited financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2025, as filed with the Securities and Exchange Commission on January 28, 2026. References to “we,” “our,” “us,” or “the Company” or “Concentrix” refer to Concentrix Corporation and its subsidiaries.

This Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, but are not limited to, statements regarding our expected future financial condition and growth, cash flows, results of operations, effective tax rate, leverage, liquidity, business strategy, competitive position, demand and market acceptance for our services and products portfolio, seasonality of our business, international operations, the potential benefits associated with use of the Company’s technology and services, acquisition opportunities and the anticipated impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, debt repayment and obligations, competition and market forecasts, industry trends, our human capital resources and sustainability initiatives, and statements that include words such as believe, expect, may, will, provide, could, should, and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to general economic and geopolitical conditions and their effects on our clients’ businesses and demand for our services, including consumer demand, interest rates, inflation, the price of oil and other petroleum-based products, international tariffs and global trade policies, supply chains, and the conflicts in the Middle East and Ukraine; cyberattacks on the Company’s or its clients’ networks and information technology systems; uncertainty around, and disruption from, new and emerging technologies, including the adoption and utilization of artificial intelligence (“AI”), including agentic and generative AI; the failure of the Company’s staff and contractors to adhere to the Company’s and its clients’ controls and processes; the inability to protect personal and proprietary information; the effects of communicable diseases or other public health crises, natural disasters and adverse weather conditions; geopolitical, economic and climate- or weather-related risks in regions with a significant concentration of the Company’s operations; the ability to successfully execute the Company’s strategy; the timing and success of product launches; competitive conditions in our industry and consolidation of our competitors; variability in demand by the Company’s clients or the early termination of the Company’s client contracts; the level of business activity of the Company’s clients and the market acceptance and performance of their products and services; the demand for end-to-end solutions and technology; damage to the company’s reputation through the actions or inactions of third parties; changes in law, regulations, or regulatory guidance, or changes in their interpretation or enforcement, including changes in law and policy that restrict offshoring or travel or visas between countries in which we have operations; the operability of the Company’s communication services and information technology systems and networks; the loss of key personnel or the inability to attract and retain staff across all geographies with the skills and expertise needed for the Company’s business; increases in the cost of labor, including minimum wage rates in the countries in which we operate; the inability to successfully identify, complete, and integrate strategic acquisitions or investments or realize anticipated benefits within the expected timeframe; higher than expected tax liabilities; currency exchange rate fluctuations; investigative or legal actions; and other risks that are described under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended November 30, 2025. We do not intend to update forward-looking statements, which speak only as of the date hereof, unless otherwise required by law.

Concentrix, Webhelp, and all Concentrix company, product, and services word and design marks and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Other names and marks are the property of their respective owners. All rights reserved.

Overview and Basis of Presentation

Concentrix is a global technology and services leader that powers exceptional brand experiences and digital operations for more than 2,000 clients across the globe. We design, build, and run fully integrated, end-to-end solutions, including customer experience (“CX”) process optimization, technology innovation and design engineering, front- and back-office automation, analytics, and business transformation services to clients in five primary industry verticals. Our differentiated portfolio of solutions supports Fortune Global 500 clients across the globe in their efforts to deliver an optimized, consistent brand experience across all channels of communication, including voice, chat, email, GenAI- and agentic AI-powered self-service, social media, asynchronous messaging,

and custom applications. We strive to deliver exceptional services globally supported by our deep industry knowledge, technology and security practices, talented people, and digital and analytics expertise.

We generate revenue from performing services and providing technology that is generally tied to our clients’ products and services. Any shift in business, demand, or the size of the market for our clients’ products or services, or any failure of technology or failure of acceptance of our clients’ products or services in the market may impact our business. The staff turnover rate in our business is high, as is the risk of losing experienced team members. High staff turnover rates may increase costs and decrease operating efficiencies and productivity.

Revenue and Cost of Revenue

We generate revenue through the provision of technology and services to our clients pursuant to client contracts. Our client contracts typically consist of a master services agreement, supported in most cases by multiple statements of work, which contain the terms and conditions of each contracted solution. Our client contracts can range from less than one year to over five years in term and are generally subject to early termination by our clients for any reason, typically with 30 to 90 days’ notice.

Our technology and services are generally characterized by flat unit prices. Approximately 99% of our revenue is recognized as services are performed, based on staffing hours or the number of client customer transactions handled using contractual rates. Remaining revenue from the sale of these solutions is typically recognized as the services are provided over the duration of the contract using contractual rates.

Our cost of revenue consists primarily of personnel costs related to the delivery of our technology and services. The costs of our revenue can be impacted by the mix of client contracts, where we deliver the technology and services, additional lead time for programs to be fully scalable, and transition and initial set-up costs. Our cost of revenue as a percentage of revenue has also fluctuated in the past, based primarily on our ability to achieve economies of scale, the management of our operating expenses, and the timing and costs incurred related to our acquisitions and investments.

For the nine months ended August 31, 2026 and 2025, approximately 90% and 89%, respectively, of our consolidated revenue was generated from our non-U.S. operations, and approximately 52% and 54%, respectively, of our consolidated revenue was priced in U.S. dollars. We expect that a significant amount of our revenue will continue to be generated from our non-U.S. operations while being priced in U.S. dollars. We have certain client contracts that are priced in non-U.S. dollar currencies for which a substantial portion of the costs to deliver the services are in other currencies. Accordingly, our revenue may be earned in currencies that are different from the currencies in which we incur corresponding expenses. Fluctuations in the value of currencies, such as the Philippine peso, the Indian rupee, the Egyptian pound, the Columbian peso, and the Canadian dollar, against the U.S. dollar or other currencies in which we bill our clients, and inflation in the local economies in which these delivery centers are located, can impact the operating and labor costs in these delivery centers, which can result in reduced profitability. As a result, our revenue growth, costs, and profitability have been impacted, and we expect will continue to be impacted, by fluctuations in foreign currency exchange rates and inflation.

Margins

Our gross margins fluctuate and can be impacted by the mix of client contracts, services provided, shifts in the geography from which our technology and services are delivered, client volume trends, the amount of lead time that is required for programs or services to become fully scaled, and transition and set-up costs. Our operating margin fluctuates based on changes in gross margins as well as overall volume levels, as we are generally able to gain scale efficiencies in our selling, general and administrative costs as our volumes increase.

Economic and Industry Trends

The industry in which we operate is competitive, including on the basis of pricing terms, delivery capabilities, and quality of services. Labor in various markets is also subject to competitive pressures that can result in increased labor costs. These factors subject us to pricing and labor cost pressures that can negatively affect our revenue, gross profit, and operating income.

Our business operates globally in 74 countries across six continents. We have significant concentrations in the Philippines, India, Brazil, the United States, Egypt, Türkiye, Colombia, Malaysia, Morocco, China, South Africa, the United Kingdom, and elsewhere

throughout EMEA, Latin America, and Asia-Pacific. Accordingly, we historically have and expect to continue to be impacted by economic strength or weakness in these geographies and by the strengthening or weakening of local currencies relative to the U.S. dollar.

From time to time since January 2025, the U.S. government has imposed, or threatened to impose, new or increased tariffs on certain countries, materials, and industries, and in response, certain impacted countries have imposed or threatened various retaliatory tariffs or other trade restrictions on imports from the United States. The tariff environment remains dynamic, and we cannot predict with certainty the effect of future changes in global trade policy and tariffs on our clients’ operations and demand for our services in future periods.

Seasonality

Our revenue and margins fluctuate with the underlying trends in our clients’ businesses and trends in the level of consumer activity. As a result, our revenue and margins are typically higher in the fourth fiscal quarter of the year than in any other fiscal quarter.

Critical Accounting Policies and Estimates

During the three and nine months ended August 31, 2026, there were no material changes to our critical accounting policies and estimates previously disclosed in our Annual Report on Form 10-K for the fiscal year ended November 30, 2025.

Results of Operations – Three and Nine Months Ended August 31, 2026 and 2025


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025

	($ in thousands)		($ in thousands)
Revenue	$	2,453,679			$	2,483,253		$	7,416,543	$	7,272,846
Cost of revenue	1,604,800			1,628,246			4,894,658		4,713,792
Gross profit	848,879			855,007			2,521,885		2,559,054
Selling, general and administrative expenses	709,184			708,023			2,168,210		2,094,858
Impairment charge	1,050,000			—			1,050,000		—
Operating income (loss)	(910,305)			146,984			(696,325)		464,196
Interest expense and finance charges, net	64,856			72,014			208,247		220,414
Other expense (income), net	4,603			(36,474)			(23,014)		(20,175)
Income (loss) before income taxes	(979,764)			111,444			(881,558)		263,957
Provision for income taxes	8,349			23,334			29,690		63,497
Net income (loss)	$	(988,113)			$	88,110		$	(911,248)	$	200,460

Revenue


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026		August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Industry vertical:
Technology and consumer electronics	$	603,512			$	670,573			(10.0)	%		$	1,862,845	$	1,990,984	(6.4)	%
Retail, travel and e-commerce	662,612			622,822			6.4	%		1,952,770			1,790,502	9.1	%
Communications and media	381,905			411,229			(7.1)	%		1,168,176			1,175,192	(0.6)	%
Banking, financial services and insurance	432,463			384,449			12.5	%		1,286,456			1,133,657	13.5	%
Healthcare	145,173			174,106			(16.6)	%		475,872			540,297	(11.9)	%
Other	228,014			220,074			3.6	%		670,424			642,214	4.4	%
Total	$	2,453,679			$	2,483,253			(1.2)	%		$	7,416,543	$	7,272,846	2.0	%

We generate revenue by delivering our technology and services to our clients categorized in the above industry verticals. Our solutions focus on customer engagement, process optimization, and back-office automation.

Our revenue decreased by 1.2% for the three months ended August 31, 2026, compared to the three months ended August 31, 2025. The decrease in revenue resulted primarily from decreases in our healthcare, technology and consumer electronics, and communications and media verticals partially offset by increases in revenue across our banking, financial services and insurance, retail, travel and e-commerce, and other verticals. Foreign currency exchange rates had a negative impact of $16.2 million, or 0.7%, on revenue for the period. The unfavorable foreign currency rate impact on revenue was primarily due to the weakening of the Turkish lira against the U.S. dollar.

Our revenue increased by 2.0% for the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025. The increase in revenue resulted primarily from increases in revenue across our banking, financial services and insurance, retail, travel and e-commerce, and other verticals partially offset by decreases in our healthcare, technology and consumer electronics, and communications and media verticals. Foreign currency exchange rates had a positive impact of $95.7 million, or 1.3%, on revenue growth for the period. The favorable foreign currency rate impact on revenue was primarily due to the strengthening of the euro against the U.S. dollar.

For the three months ended August 31, 2026, revenue in our technology and consumer electronics vertical decreased by 10.0%, primarily due to decreases in revenue for certain larger clients in the vertical. Revenue in our retail, travel and e-commerce vertical increased by 6.4%, primarily due to increases in revenue across the majority of clients in this vertical, including our largest clients in the vertical. Revenue in our communications and media vertical decreased by 7.1%, primarily due to a decrease in revenue with a

larger client in the vertical partially offset by increases in revenue from certain clients in the vertical. Revenue in our banking, financial services and insurance vertical increased by 12.5%, primarily due to increases in revenue from certain clients in the vertical, including several of our largest clients in the vertical. Revenue in our healthcare vertical decreased by 16.6%, primarily due to decreases in revenue from several larger clients in the vertical. Revenue in our other vertical increased by 3.6%, primarily related to increases in revenue related to several larger clients in the vertical.

For the nine months ended August 31, 2026, revenue in our technology and consumer electronics vertical decreased by 6.4%, primarily due to decreases in revenue from certain larger clients in the vertical, partially offset by increases in revenue from certain clients in the vertical. Revenue in our retail, travel and e-commerce vertical increased by 9.1%, primarily due to increases in revenue across the majority of clients in this vertical, including our largest clients. Revenue in our communications and media vertical decreased by 0.6%, primarily due to a decrease in revenue with a larger client in the vertical substantially offset by increases in revenue with the majority of clients in the vertical. Revenue in our banking, financial services and insurance vertical increased by 13.5%, primarily due to increases in revenue from the majority of clients in the vertical, including several larger clients in the vertical. Revenue in our healthcare vertical decreased by 11.9%, primarily due to decreases in revenue from several larger clients in the vertical. Revenue in our other vertical increased by 4.4%, primarily related to increases in revenue related to several larger clients in the vertical.

Cost of Revenue, Gross Profit and Gross Margin Percentage


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Cost of revenue	$	1,604,800			$	1,628,246		(1.4)	%		$	4,894,658	$	4,713,792	3.8	%
Gross profit	$	848,879			$	855,007		(0.7)	%		$	2,521,885	$	2,559,054	(1.5)	%
Gross margin %	34.6	%		34.4	%			34.0	%		35.2	%

Cost of revenue consists primarily of personnel costs. Gross margins can be impacted by resource location, client mix and pricing, additional lead time for programs to be fully scalable, and transition and initial set-up costs.

Our cost of revenue decreased by 1.4% in the three months ended August 31, 2026, compared to the three months ended August 31, 2025. Cost of revenue decreased $26.1 million, or 1.6%, due to changes in foreign currency exchange rates, which was caused primarily by the weakening of the Turkish lira and several other currencies against the U.S. dollar. Additionally, lower wages and reduced temporary contract service costs contributed to the decrease in cost of revenue. These decreases were partially offset by higher restructuring expenses, primarily related to severance and other employee-related costs resulting from the Company's recent cost reduction initiatives.

Our cost of revenue increased by 3.8% in the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025. Cost of revenue increased $36.6 million, or 0.8%, due to changes in foreign currency exchange rates, which was caused primarily by the strengthening of the euro and several other currencies against the U.S. dollar. Cost of revenue also increased due to an increase in restructuring expenses, primarily related to severance expenses and employee-related costs as a result of the Company’s recent cost reduction initiatives. Further increases in cost of revenue resulted from wage increases across certain countries.

Our gross profit decreased by 0.7% in the three months ended August 31, 2026, compared to the three months ended August 31, 2025, primarily due to decreases in gross profit associated with underlying business. These decreases were mainly due to increases in cost of revenue associated with severance and employee-related costs as previously described. The decreases were partially offset by a net favorable foreign currency impact of $9.9 million on gross profit. Our gross margin percentage for the three months ended August 31, 2026 increased to 34.6% from 34.4% in the prior fiscal year period due to the changes to revenue and gross profit previously described.

Our gross profit decreased by 1.5% in the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025, primarily due to the increases in cost of revenue associated with severance and employee-related costs as previously described. The decreases were partially offset by a net favorable foreign currency impact of $59.1 million on gross profit. Our gross margin percentage for the nine months ended August 31, 2026 decreased to 34.0% from 35.2% in the prior fiscal year period due to the changes to revenue and gross profit previously described.

Selling, General and Administrative Expenses


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Selling, general and administrative expenses	$	709,184			$	708,023		0.2	%		$	2,168,210	$	2,094,858	3.5	%
Percentage of revenue	28.9	%		28.5	%			29.2	%		28.8	%

Our selling, general and administrative expenses consist primarily of support personnel costs such as salaries, commissions, bonuses, employee benefits, and share-based compensation costs. Selling, general and administrative expenses also include the cost of our global delivery facilities, utility expenses, hardware and software costs related to our technology infrastructure, legal and professional fees, depreciation on our technology and facility equipment, amortization of intangible assets resulting from acquisitions, marketing expenses, and acquisition-related, integration and restructuring expenses.

Our selling, general and administrative expenses increased by 0.2% in the three months ended August 31, 2026, compared to the three months ended August 31, 2025. Contributing to the increase over the prior year period was an increase of $5.7 million related to restructuring expenses, which was offset by a reduction of $6.2 million due to changes in foreign currency exchange rates. As a percentage of revenue, selling, general and administrative expenses increased from 28.5% in the third fiscal quarter of 2025 to 28.9% in the third fiscal quarter of 2026, primarily due to the changes previously described.

Our selling, general and administrative expenses increased by 3.5% in the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025. Contributing to the increase over the prior year period was an increase of $30.6 million due to changes in foreign currency exchange rates, $24.0 million related to restructuring expenses and $8.4 million related to the loss on held for sale of a non-core business. As a percentage of revenue, selling, general and administrative expenses increased from 28.8% in the third fiscal quarter of 2025 to 29.2% in the third fiscal quarter of 2026, primarily due to the changes previously described.

Impairment Charge


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Impairment charge	$	1,050,000			$	—		NM		$	1,050,000		$	—	NM
Percentage of revenue	42.8	%		—	%			14.2	%		—	%

NM: Not Meaningful - Change greater than 100%

During the three and nine months ended August 31, 2026, we recorded a non-cash goodwill impairment charge of $1,050.0 million. No such charges were recorded during the three and nine months ended August 31, 2025. See Note 5—Balance Sheet Components to the consolidated financial statements for more information.

Operating Income (Loss)


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Operating income (loss)	$	(910,305)			$	146,984		NM		$	(696,325)		$	464,196	NM
Operating margin	(37.1)	%		5.9	%			(9.4)	%		6.4	%

NM: Not Meaningful - Change greater than 100%

Our operating income (loss) decreased during the three and nine months ended August 31, 2026, compared to the three and nine months ended August 31, 2025, primarily due to the non-cash goodwill impairment charge.

Our operating margin decreased during the three and nine months ended August 31, 2026, compared to the three and nine months ended August 31, 2025, primarily due to the non-cash goodwill impairment charge.

Interest Expense and Finance Charges, Net


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Interest expense and finance charges, net	$	64,856			$	72,014		(9.9)	%		$	208,247	$	220,414	(5.5)	%
Percentage of revenue	2.6	%		2.9	%			2.8	%		3.0	%

Amounts recorded in interest expense and finance charges, net consist primarily of interest expense on our senior notes, interest expense on term loan borrowings under our senior credit facility, interest expense on borrowings under our accounts receivable securitization facility (the “Securitization Facility”), and, for the three and nine months ended August 31, 2025, interest expense on the promissory note issued by us to certain sellers in connection with our combination with Webhelp (the “Sellers’ Note”).

The decrease in interest expense and finance charges, net for the three months ended August 31, 2026, compared to the three months ended August 31, 2025, was primarily due to lower interest expense due to less debt outstanding during the period in comparison to the prior year. This decrease in interest expense included $8.8 million of interest expense associated with the Sellers’ Note in the prior year period that did not recur in the current period as it was repaid in the fourth quarter of fiscal year 2025, partially offset by a net increase in interest expense associated with our remaining borrowings in comparison to the prior year period, primarily related to our term loan borrowings.

The decrease in interest expense and finance charges, net for the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025, was primarily due to lower interest expense due to less debt outstanding during the period in comparison to the prior year. This decrease in interest expense included $25.0 million of interest expense associated with the Sellers’ Note in the prior year period that did not recur in the current period as it was repaid in the fourth quarter of fiscal year 2025, partially offset by an increase of $6.3 million associated with our early redemption of $600.0 million principal amount of our senior notes due in August 2026 and a net increase in interest expense associated with our remaining borrowings, primarily related to our term loan borrowings.

Other Expense (Income), Net


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Other expense (income), net	$	4,603			$	(36,474)		NM		$	(23,014)		$	(20,175)	14.1	%
Percentage of revenue	0.2	%		(1.5)	%			(0.3)	%		(0.3)	%

NM: Not Meaningful - Change greater than 100%

Amounts recorded as other expense (income), net primarily include foreign currency transaction gains and losses other than cash flow hedges, investment gains and losses, the non-service component of pension costs, other non-operating gains and losses, and changes in acquisition contingent consideration.

Other expense (income), net for the three months ended August 31, 2026 was expense of $4.6 million, compared to income of $36.5 million for the three months ended August 31, 2025. The change in other expense (income), net over the prior fiscal year period was primarily due to a year-over-year decrease in net income of $34.6 million related to net changes in foreign currency transaction gains (losses), an increase in net expense of $4.5 million related to changes in acquisition contingent consideration, and an increase in net expense of $2.1 million related to the non-service cost components of defined benefit cost.

Other expense (income), net for the nine months ended August 31, 2026 was income of $23.0 million, compared to income of $20.2 million for the nine months ended August 31, 2025. The change in other expense (income), net over the prior fiscal year period was primarily due to a year-over-year increase in net income of $4.6 million related to net changes in foreign currency transaction gains (losses), a decrease in net expense of $3.1 million related to changes in acquisition contingent consideration, and an increase in net expense of $5.6 million related to the non-service cost components of defined benefit cost.

Provision for Income Taxes


	Three Months Ended		% Change		Nine Months Ended		% Change
	August 31, 2026		August 31, 2025		2026 to 2025		August 31, 2026	August 31, 2025		2026 to 2025

	($ in thousands)				($ in thousands)
Provision for income taxes	$	8,349			$	23,334		(64.2)	%		$	29,690	$	63,497	(53.2)	%
Percentage of income before income taxes	(0.9)	%		20.9	%			(3.4)	%		24.1	%

Our provision for income taxes consists of our current and deferred tax expense resulting from our income earned in domestic and international jurisdictions.

Our provision for income taxes decreased for the three months ended August 31, 2026, compared to the three months ended August 31, 2025. The decrease in expense was primarily due to the geographic mix of worldwide income taxes and a decrease in income before taxes. The effective tax rate for the three months ended August 31, 2026 decreased compared to the three months ended August 31, 2025, primarily due to the decrease in income before taxes related to the non-cash goodwill impairment charge.

Our provision for income taxes decreased for the nine months ended August 31, 2026, compared to the nine months ended August 31, 2025. The decrease in expense was primarily due to a decrease in income before taxes and a decrease in the effective tax rate. The effective tax rate for the nine months ended August 31, 2026 decreased compared to the nine months ended August 31, 2025, primarily due to the decrease in income before taxes related to the non-cash goodwill impairment charge and certain discrete items.

Certain Non-GAAP Financial Information

In addition to disclosing financial results that are determined in accordance with GAAP, we also disclose certain non-GAAP financial information, including:

•Non-GAAP operating income, which is operating income (loss), adjusted to exclude impairment charge, acquisition-related, integration and restructuring expenses, step-up depreciation, amortization of intangible assets, loss on held for sale and share-based compensation.

•Non-GAAP operating margin, which is non-GAAP operating income, as defined above, divided by revenue.

•Adjusted earnings before interest, taxes, depreciation, and amortization, or adjusted EBITDA, which is non-GAAP operating income, as defined above, plus depreciation (exclusive of step-up depreciation).

•Adjusted EBITDA margin, which is adjusted EBITDA, as defined above, divided by revenue.

•Non-GAAP net income, which is net income (loss) excluding the tax-effected impact of impairment charge, acquisition-related, integration and restructuring expenses, step-up depreciation, amortization of intangible assets, loss on held for sale, share-based compensation, certain debt costs, imputed interest related to the Sellers’ Note, certain legal settlement costs, change in acquisition contingent consideration and foreign currency losses (gains), net. Non-GAAP net income also excludes the income tax effect of certain tax law changes.

•Free cash flow, which is cash flows from operating activities less capital expenditures, and adjusted free cash flow, which is free cash flow excluding the effect of changes in the outstanding factoring balance. We believe that free cash flow is a meaningful measure of cash flows since capital expenditures are a necessary component of ongoing operations. We believe that adjusted free cash flow is a meaningful measure of cash flows because it removes the effect of factoring which changes the timing of the receipt of cash for certain receivables. However, free cash flow and adjusted free cash flow have limitations because they do not represent the residual cash flow available for discretionary expenditures. For example, free cash flow and adjusted free cash flow do not incorporate payments for business acquisitions.

•Non-GAAP diluted earnings per common share (“EPS”), which is diluted EPS excluding the per share, tax-effected impact of impairment charge, acquisition-related, integration and restructuring expenses, step-up depreciation, amortization of intangible assets, loss on held for sale, share-based compensation, certain debt costs, imputed interest related to the Sellers’ Note, certain legal settlement costs, change in acquisition contingent consideration and foreign currency losses (gains), net. Non-GAAP EPS also excludes the per share income tax effect of certain tax law changes. Non-GAAP EPS also reflects a per share adjustment to exclude non-GAAP net income attributable to participating securities.

We believe that providing this additional information is useful to the reader to better assess and understand our base operating performance, especially when comparing results with previous periods and for planning and forecasting in future periods, primarily because management typically monitors the business adjusted for these items in addition to GAAP results. Management also uses these non-GAAP measures to establish operational goals and, in some cases, for measuring performance for compensation purposes. These non-GAAP financial measures exclude amortization of intangible assets. Our acquisition activities have resulted in the recognition of intangible assets, which consist primarily of customer relationships, technology, and trade names. Finite-lived intangible assets are amortized over their estimated useful lives and are tested for impairment when events indicate that the carrying value may not be recoverable. The amortization of intangible assets is reflected in our statements of operations. Although intangible assets contribute to our revenue generation, the amortization of intangible assets does not directly relate to the services performed for our clients. Additionally, intangible asset amortization expense typically fluctuates based on the size and timing of our acquisition activity. Accordingly, we believe excluding the amortization of intangible assets, along with the other non-GAAP adjustments, which neither relate to the ordinary course of our business nor reflect our underlying business performance, enhances our and our investors’ ability to compare our past financial performance with our current performance and to analyze underlying business performance and trends. Intangible asset amortization excluded from the related non-GAAP financial measure represents the entire amount recorded within our GAAP financial statements, and the revenue generated by the associated intangible assets has not been excluded from the related non-GAAP financial measure. Intangible asset amortization is excluded from the related non-GAAP financial measure because the amortization, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired, or the estimated useful life of an intangible asset is revised. These non-GAAP financial measures also exclude share-based compensation expense. Given the subjective assumptions and the variety of award types that companies can use when calculating share-based compensation expense, management believes this additional information allows investors to make additional comparisons between our operating results and those of our peers. As these non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures and should be used as a complement to, and in conjunction with, data presented in accordance with GAAP.


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
	($ in thousands, except per share amounts)

Operating income (loss)	$	(910,305)			$	146,984		$	(696,325)	$	464,196
Impairment charge	1,050,000			—			1,050,000		—
Acquisition-related, integration and restructuring expenses (1)	42,493			18,619			142,867		53,451
Step-up depreciation	2,626			2,704			8,082		7,616
Amortization of intangibles	100,908			111,779			306,421		326,556
Loss on held for sale	1,528			—			8,420		—
Share-based compensation	21,757			25,042			76,579		78,504
Non-GAAP operating income	$	309,007			$	305,128		$	896,044	$	930,323

Net income (loss)	$	(988,113)			$	88,110		$	(911,248)	$	200,460
Interest expense and finance charges, net	64,856			72,014			208,247		220,414
Provision for income taxes	8,349			23,334			29,690		63,497
Other expense (income), net	4,603			(36,474)			(23,014)		(20,175)
Impairment charge	1,050,000			—			1,050,000		—
Acquisition-related, integration and restructuring expenses (1)	42,493			18,619			142,867		53,451
Step-up depreciation	2,626			2,704			8,082		7,616
Amortization of intangibles	100,908			111,779			306,421		326,556
Loss on held for sale	1,528			—			8,420		—
Share-based compensation	21,757			25,042			76,579		78,504
Depreciation (exclusive of step-up depreciation)	53,947			54,074			162,466		160,410
Adjusted EBITDA	$	362,954			$	359,202		$	1,058,510	$	1,090,733


	Three Months Ended		Nine Months Ended
	August 31, 2026		August 31, 2025		August 31, 2026		August 31, 2025
	($ in thousands, except per share amounts)

Operating margin	(37.1)	%		5.9	%		(9.4)	%		6.4	%
Non-GAAP operating margin	12.6	%		12.3	%		12.1	%		12.8	%
Adjusted EBITDA margin	14.8	%		14.5	%		14.3	%		15.0	%

Net income (loss)	$	(988,113)			$	88,110			$	(911,248)		$	200,460
Impairment charge	1,050,000			—			1,050,000			—
Acquisition-related, integration and restructuring expenses (1)	42,493			18,619			142,867			53,451
Step-up depreciation	2,626			2,704			8,082			7,616
Debt costs (2)	—			—			6,268			1,102
Imputed interest related to Sellers’ Note included in interest expense and finance charges, net	—			4,739			—			13,428
Legal settlement costs (3)	—			—			—			2,000
Change in acquisition contingent consideration included in other expense (income), net	2,125			(2,417)			1,180			4,250
Foreign currency losses (gains), net (4)	(889)			(35,531)			(33,548)			(28,921)
Amortization of intangibles	100,908			111,779			306,421			326,556
Loss on held for sale	1,528			—			8,420			—
Share-based compensation	21,757			25,042			76,579			78,504
Income taxes related to the above (5)	(40,628)			(30,535)			(126,490)			(112,458)
Income tax effect of change in tax law	(5,298)			721			(5,298)			4,990
Non-GAAP net income	$	186,509			$	183,231			$	523,233		$	550,978

Diluted earnings (loss) per common share (“EPS”)	$	(16.24)			$	1.34			$	(14.99)		$	3.01
Impairment charge	17.24			—			17.21			—
Acquisition-related, integration and restructuring expenses (1)	0.70			0.30			2.34			0.84
Step-up depreciation	0.04			0.04			0.13			0.12
Debt costs (2)	—			—			0.10			0.02
Imputed interest related to Sellers’ Note included in interest expense and finance charges, net	—			0.08			—			0.21
Legal settlement costs (3)	—			—			—			0.03
Change in acquisition contingent consideration included in other expense (income), net	0.03			(0.04)			0.02			0.07
Foreign currency losses (gains), net (4)	(0.01)			(0.57)			(0.55)			(0.46)
Amortization of intangibles	1.66			1.78			5.02			5.15
Loss on held for sale	0.03			—			0.14			—
Share-based compensation	0.36			0.40			1.26			1.24
Income taxes related to the above (5)	(0.67)			(0.49)			(2.07)			(1.77)
Income tax effect of change in tax law	(0.09)			0.01			(0.09)			0.08
Adjustment for participating securities	(0.13)			(0.07)			(0.36)			(0.27)
Non-GAAP Diluted EPS	$	2.92			$	2.78			$	8.16		$	8.27

(1) For the three and nine months ended August 31, 2026, acquisition-related, integration and restructuring expenses primarily included restructuring costs associated with the Company’s recent cost reduction initiatives, including severance and employee-related costs. Restructuring expenses also included costs associated with facilities consolidation, including lease terminations. For the three and nine months ended August 31, 2025, acquisition-related, integration and restructuring costs primarily included integration costs associated with our combination with Webhelp and restructuring expenses. These costs primarily included severance and employee-

related costs, costs associated with facilities consolidation, including lease terminations to integrate the businesses, and information technology system consolidation costs.

(2) For the nine months ended August 31, 2026, debt costs included debt extinguishment costs associated with our early redemption of $600.0 million of our senior notes due in August 2026. For the nine months ended August 31, 2025, debt costs included debt extinguishment costs associated with our Restated Credit Agreement and our voluntary prepayment of a portion of our outstanding term loans.

(3) For the nine months ended August 31, 2025, legal settlement costs consist of amounts incurred to settle certain litigation arising outside of the ordinary course of business.

(4) Foreign currency losses (gains), net are included in other expense (income), net and primarily consist of gains and losses recognized on the revaluation and settlement of foreign currency transactions and realized and unrealized gains and losses on derivative contracts that do not qualify for hedge accounting.

(5) The tax effect of taxable and deductible non-GAAP adjustments was calculated using the tax-deductible portion of the expenses and applying the entity specific, statutory tax rates applicable to each item during the respective periods.

Liquidity and Capital Resources

Our primary uses of cash are working capital, capital expenditures to expand our delivery footprint and enhance our technology solutions, debt repayment, acquisitions, and acquisition-related and integration expenses. Our financing needs for these uses of cash have been a combination of operating cash flows and third-party debt arrangements. Our working capital needs are primarily to finance accounts receivable. When our revenue is increasing, our net investment in working capital typically increases. Conversely, when revenue is decreasing, our net investment in working capital typically decreases. To increase our market share and better serve our clients, we may further expand our operations through investments or acquisitions. We expect that such expansion would require an initial investment in working capital, personnel, facilities, and operations. These investments or acquisitions would likely be funded primarily by our existing cash and cash equivalents, available liquidity, including capacity on our debt arrangements, or the issuance of securities.

In September 2021, considering our strong free cash flow, low leverage, and adequate liquidity to support capital return to stockholders while maintaining flexibility to pursue acquisitions, our board of directors authorized a share repurchase program. Under the share repurchase program, the board of directors authorized the repurchase of up to $500.0 million of our common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. In January 2025, our board of directors extended our share repurchase program by authorizing an increase of the amount remaining for share repurchases under the existing share repurchase authorization to $600.0 million. The share repurchase program has no termination date and may be suspended or discontinued at any time.

During the three months ended August 31, 2026, we did not repurchase any shares of our common stock under the share repurchase program. During the nine months ended August 31, 2026, we repurchased 1,081,121 shares of our common stock under the share repurchase program for approximately $43.2 million in the aggregate. During the three and nine months ended August 31, 2025, we repurchased 783,698 and 2,247,399 shares, respectively, of our common stock under the share repurchase program for approximately $41.6 million and $112.8 million, respectively, in the aggregate. At August 31, 2026, approximately $396.6 million remained available for share repurchases under the existing authorization from our board of directors.

During fiscal years 2026 and 2025, we paid the following dividends per share approved by our board of directors:


Announcement Date	Record Date	Per Share Dividend Amount	Payment Date
January 15, 2025	January 31, 2025	$0.33275	February 11, 2025
March 26, 2025	April 25, 2025	$0.33275	May 6, 2025
June 26, 2025	July 25, 2025	$0.33275	August 5, 2025
September 25, 2025	October 24, 2025	$0.36	November 4, 2025
January 13, 2026	January 30, 2026	$0.36	February 10, 2026
March 24, 2026	April 24, 2026	$0.36	May 5, 2026
June 29, 2026	July 24, 2026	$0.36	August 4, 2026

On September 29, 2026, the Company announced a cash dividend of $0.37 per share to stockholders of record as of October 23, 2026, payable on November 3, 2026.

We expect that future cash dividends will be paid on a quarterly basis. However, any decision to pay future cash dividends will be subject to our board of directors’ approval, and will depend on many factors, such as our financial condition, earnings, capital requirements, debt service obligations, restrictive covenants in our debt agreements, industry practice, legal requirements, regulatory constraints, and other factors that our board of directors deems relevant. Our ability to pay dividends will depend on our ongoing ability to generate cash from operations and on our access to the capital markets. We cannot guarantee that we will continue to pay a dividend in the future.

Debt Arrangements

Senior Notes

On February 24, 2026, we issued and sold $600.0 million aggregate principal amount of 6.500% Senior Notes due 2029 (the “2029 Notes”). The 2029 Notes were sold in a registered public offering pursuant to our Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated February 12, 2026, to a Prospectus dated July 17, 2023.

We used the net proceeds from the sale of the 2029 Notes, together with other available funds, to redeem $600.0 million of our 6.650% Senior Notes due 2026 (the “2026 Notes”), of which $800.0 million aggregate principal amount was outstanding immediately before giving effect to such redemption. We recorded debt extinguishment costs of $6.3 million associated with this early redemption of a portion of the 2026 Notes in the nine months ended August 31, 2026. On August 3, 2026, we redeemed all $200.0 million of the remaining aggregate principal amount of the 2026 Notes.

On August 2, 2023, we issued and sold (i) $800.0 million aggregate principal amount of 6.600% Senior Notes due 2028 (the “2028 Notes”) and (ii) $550.0 million aggregate principal amount of 6.850% Senior Notes due 2033 (the “2033 Notes” and, together with the 2028 Notes and 2029 Notes, the “Senior Notes”). The 2028 Notes and 2033 Notes were sold in a registered public offering pursuant to our Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023.

In fiscal year 2023, we entered into cross-currency swap arrangements with certain financial institutions for a total notional amount of $500.0 million, which represented $250.0 million aggregate principal amount of the 2026 Notes and $250.0 million aggregate principal amount of the 2028 Notes. As part of the senior notes refinancing that occurred in February 2026, we extended cross-currency swap arrangements with certain financial institutions for a total notional amount equivalent to $250.0 million aggregate principal amount of the 2029 Notes (previously associated with $250.0 million aggregate principal amount of the 2026 Notes).

In addition to aligning the currency of a portion of our interest payments to our euro-denominated cash flows, the arrangements, together with intercompany loans and additional intercompany cross-currency interest rate swap arrangements, effectively converted $250.0 million aggregate principal amount of the 2028 Notes and $250.0 million aggregate principal amount of the 2029 Notes into synthetic fixed euro-based debt, both at weighted average interest rates of 5.18%.

Restated Credit Agreement

On April 11, 2025, we entered into an Amendment and Restatement Agreement (the “Amendment Agreement”) with the lenders party thereto, Bank of America, N.A., as the administrative agent, the L/C issuer and the swing line lender, and JPMorgan Chase Bank, N.A., as the existing administrative agent, the existing L/C issuer and the existing swing line lender, to amend and restate the Company’s Amended and Restated Credit Agreement dated as of April 21, 2023 (the “Existing Credit Agreement” and, as so amended and restated by the Amendment Agreement, the “Restated Credit Agreement”). The Amendment Agreement appoints Bank of America, N.A. as the Administrative Agent under the Restated Credit Agreement, as successor to JPMorgan Chase Bank, N.A.

The Restated Credit Agreement provides for (i) an unsecured three-year term loan facility in an aggregate principal amount not to exceed $750.0 million (the “New Term Loan Facility”), (ii) an unsecured three-year delayed draw term loan facility in an aggregate principal amount not to exceed $250.0 million (the “3-Year DD Term Loan Facility”), which was drawn in full in September 2025, (iii) an unsecured five-year delayed draw term loan facility in an aggregate principal amount not to exceed $500.0 million (the “5-Year DD Term Loan Facility”, and together with the 3-Year DD Term Loan Facility, the “Delayed Draw Term Loans”), which was drawn in full in September 2025, and (iv) a senior unsecured revolving credit facility not to exceed an aggregate principal amount of $1,100.0 million (the “Revolving Credit Facility”). The Restated Credit Agreement also provided for the conversion and continuation of loans in an aggregate principal amount of $750.0 million under our prior unsecured term loan facility into loans under an unsecured term loan facility with the same maturity as such converted and continued loans (the “Continued Term Loan Facility”). Aggregate borrowing capacity under the Restated Credit Agreement may be increased by up to an additional $500.0 million by increasing the amount of the Revolving Credit Facility commitments or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Restated Credit Agreement, including the receipt of additional commitments for such increase(s).

The maturity date of the New Term Loan Facility and the 3-Year DD Term Loan Facility is September 30, 2028. The maturity date of the 5-Year DD Term Loan Facility and the Revolving Credit Facility is April 11, 2030, subject, in the case of the Revolving Credit Facility, to two one-year extensions upon our prior notice to the lenders and the agreement of the lenders to extend such maturity date. The maturity date of the Continued Term Loan Facility is December 27, 2026.

Borrowings under the Restated Credit Agreement bear interest, in the case of SOFR rate loans, at a per annum rate equal to the applicable SOFR rate (but not less than 0.0%), plus an applicable margin, based on the credit ratings of Concentrix’ senior unsecured non-credit enhanced long-term indebtedness for borrowed money plus a credit spread adjustment to the SOFR rate of 0.10%. The applicable margin ranges from 1.000% to 1.500% for the New Term Loan Facility and the 3-Year DD Term Loan Facility, 1.100% to 1.600% for the 5-Year DD Term Loan Facility, 1.125% to 2.000% for the Continued Term Loan Facility, and 0.875% to 1.500% for the Revolving Credit Facility. Borrowings under the Restated Credit Agreement that are base rate loans bear interest at a per annum rate (but not less than 1.0%) equal to (i) the greatest of (A) the “prime rate” (as defined in the Restated Credit Agreement) in effect on such day, (B) the Federal Funds Rate (as defined in the Restated Credit Agreement) in effect on such day plus 0.500%, and (C) the adjusted one-month term SOFR rate plus 1.0% per annum, plus (ii) an applicable margin, based on the credit ratings of Concentrix’ senior unsecured non-credit enhanced long-term indebtedness for borrowed money. The applicable margin ranges from 0.000% to 0.500% for the New Term Loan Facility, the 3-Year DD Term Loan Facility, and the Revolving Credit Facility, 0.100% to 0.600% for the 5-Year DD Term Loan Facility, and 0.125% to 1.000% for the Continued Term Loan Facility.

In September 2025, in connection with the issuance of the Delayed Draw Term Loans of $750.0 million, we entered into an interest rate swap to fix the interest component associated with the debt, creating synthetic fixed-rate debt. Concurrent with entering the interest rate swaps, we entered into cross-currency swap arrangements with certain financial institutions for a total notional amount equivalent to $750.0 million. In addition to aligning the currency of our interest payments to the Company’s euro-denominated cash flows, the arrangements, together with intercompany loans and additional intercompany cross-currency interest rate swap arrangements, effectively converted the Delayed Draw Term Loans into synthetic fixed euro-based debt at weighted average interest rates of 3.43% for the three-year term loan and 3.69% for the five-year term loan.

The Restated Credit Agreement contains certain loan covenants that are customary for credit facilities of this type and that restrict the ability of Concentrix and its subsidiaries to take certain actions, including the creation of liens, mergers, consolidations, or other fundamental changes to the nature of their business, and, solely with respect to subsidiaries of Concentrix, incurrence of indebtedness. In addition, the Restated Credit Agreement contains financial covenants that require Concentrix to maintain at the end of each fiscal quarter, (i) a consolidated leverage ratio (as defined in the Restated Credit Agreement) not to exceed 3.75 to 1.00 (or for certain periods following certain qualified acquisitions, 4.25 to 1.00) and (ii) a consolidated interest coverage ratio (as defined in the Restated Credit Agreement) no less than 3.00 to 1.00. The Restated Credit Agreement also contains various customary events of default, including payment defaults, defaults under certain other indebtedness, and a change of control of Concentrix.

As of August 31, 2026 and November 30, 2025, the outstanding principal balance on our term loans was $1,818.8 million and $1,965.6 million. During the three and nine months ended August 31, 2026, we made required quarterly principal payments of $18.8 million and $46.9 million on our term loans. In addition, during the nine months ended August 31, 2026, we voluntarily prepaid $100.0 million of the principal balance on our term loans, without penalty.

None of our subsidiaries guarantees the obligations under the Restated Credit Agreement.

At August 31, 2026 and November 30, 2025, no amounts were outstanding under our Revolving Credit Facility.

Securitization Facility

Under the Securitization Facility, Concentrix Corporation and certain of its U.S. based subsidiaries sell or otherwise transfer all of their accounts receivable to a special purpose bankruptcy-remote subsidiary of Concentrix Corporation that grants a security interest in the receivables to the lenders in exchange for available borrowings. On March 20, 2026, we entered into an amendment to the Securitization Facility to increase the commitment of the lenders to provide available borrowings from up to $700.0 million to up to $750.0 million and extend the termination date of the Securitization Facility from January 14, 2027 to March 20, 2028. Borrowings that are funded by certain lenders through such lenders’ issuance of commercial paper bear interest at the applicable commercial paper rate plus a spread of 0.75%. Other borrowings bear interest at a per annum rate equal to the applicable SOFR rate (subject to a SOFR related adjustment of 0.10%), plus a spread of 0.90%. Borrowing availability under the Securitization Facility may be limited by our accounts receivable balances, changes in the credit ratings of our clients comprising the receivables, client concentration levels in the receivables, and certain characteristics of the accounts receivable being transferred (including factors tracking performance of the accounts receivable over time).

As of August 31, 2026 and November 30, 2025, we were in compliance with the covenants related to our debt arrangements.

Cash Flows – Nine Months Ended August 31, 2026 and 2025

The following summarizes our cash flows for the nine months ended August 31, 2026 and 2025, as reported in our consolidated statements of cash flows in the accompanying consolidated financial statements.


	Nine Months Ended
	August 31, 2026		August 31, 2025

	($ in thousands)
Net cash provided by operating activities	$	442,878			$	462,747
Net cash used in investing activities	(128,882)			(172,127)
Net cash used in financing activities	(383,348)			(211,444)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3,004			29,706
Net increase (decrease) in cash, cash equivalents, cash held for sale, restricted cash and restricted cash held for sale	$	(66,348)			$	108,882
Cash, cash equivalents, restricted cash and cash held for sale at beginning of year	521,127			429,604
Cash, cash equivalents, restricted cash, cash held for sale, and restricted cash held for sale at the end of the period	$	454,779			$	538,486

Operating Activities

Net cash provided by operating activities was $442.9 million for the nine months ended August 31, 2026, compared to $462.7 million for the nine months ended August 31, 2025. The change over the prior year period was primarily related to a decrease in net income prior to the non-cash impairment charge, an increase in payments for severance expenses, and unfavorable working capital changes.

Investing Activities

Net cash used in investing activities for the nine months ended August 31, 2026 was $128.9 million, compared to $172.1 million for the nine months ended August 31, 2025. The change over the prior year period was primarily related to proceeds on the sale of property and equipment of $17.1 million during the nine months ended August 31, 2026 and a decrease of $22.4 million in capital expenditures.

Financing Activities

Net cash used in financing activities for the nine months ended August 31, 2026 was $383.3 million, primarily consisting of repayment of the remaining $200.0 million aggregate principal amount outstanding of the 2026 Notes, principal payments of $146.9 million on our term loan borrowings, share repurchases of $43.2 million, dividends paid of $69.3 million and change in funds held for clients of $3.3 million, all partially offset by net borrowings of $83.5 million under our Securitization Facility. The net proceeds from the issuance of $600.0 million aggregate principal amount of the 2029 Notes were used to redeem $600.0 million aggregate principal amount of the 2026 Notes.

Net cash used in financing activities for the nine months ended August 31, 2025 was $211.4 million, primarily consisting of principal payments of $150.0 million on our term loan borrowings, share repurchases of $112.8 million, dividends paid of $66.4 million, change in funds held for clients of $19.2 million, deferred acquisition consideration payments of $6.5 million, payments on other borrowings of $6.2 million, debt issuance costs of $4.8 million, all partially offset by net borrowings of $154.0 million under our Securitization Facility.

Free Cash Flow and Adjusted Free Cash Flow (non-GAAP measures)


	Nine Months Ended
	August 31, 2026		August 31, 2025

	($ in thousands)
Net cash provided by operating activities	$	442,878			$	462,747
Purchases of property and equipment	(149,054)			(171,464)
Free cash flow (a non-GAAP measure)	$	293,824			$	291,283
Change in outstanding factoring balances	22,205			47,992
Adjusted free cash flow (a non-GAAP measure)	$	316,029			$	339,275

Our free cash flow was $293.8 million for the nine months ended August 31, 2026 compared to $291.3 million for the nine months ended August 31, 2025. The increase in free cash flow for the nine months ended August 31, 2026 compared to the prior fiscal year period was due to the decrease in capital expenditures partially offset by the decrease in cash provided by operating activities.

Our adjusted free cash flow was $316.0 million for the nine months ended August 31, 2026 compared to $339.3 million for the nine months ended August 31, 2025. The decrease in adjusted free cash flow for the nine months ended August 31, 2026 compared to the prior year period was due to a decrease in the change in outstanding factoring balances partially offset by an increase in free cash flow.

Capital Resources

As of August 31, 2026, we had total liquidity of $1,485.3 million, which includes undrawn capacity on our Revolving Credit Facility of $1,100.0 million, undrawn capacity of $129.5 million under our Securitization Facility, and cash and cash equivalents, including cash held for sale.

Our cash and cash equivalents, including cash held for sale, totaled $255.8 million and $329.4 million as of August 31, 2026 and November 30, 2025, respectively. Of our total cash and cash equivalents, 98% and 98% were held by our non-U.S. legal entities as of both August 31, 2026 and November 30, 2025, respectively. The cash and cash equivalents held by our non-U.S. legal entities are no longer subject to U.S. federal tax on repatriation into the United States; repatriation of some non-U.S. balances is restricted by local laws. Historically, we have fully utilized and reinvested all non-U.S. cash to fund our international operations and expansions; however, we have recorded deferred tax liabilities related to non-U.S. withholding taxes on the earnings of certain previously acquired non-U.S. entities that are likely to be repatriated in the future. If in the future our intentions change, and we repatriate the cash back to the United States, we will report in our consolidated financial statements the impact of the state and withholding taxes depending upon the planned timing and manner of such repatriation.

We believe that our available cash and cash equivalents balances, the cash flows expected to be generated from operations, and our sources of liquidity will be sufficient to satisfy our current and planned working capital and investment needs for the next twelve months. We also believe that our longer-term working capital, planned capital expenditures, and other general corporate funding requirements will be satisfied through cash flows from operations and, to the extent necessary, from our borrowing facilities and future financing activities.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market Risk

We are and will be exposed to a variety of market risks, including the effects of changes in foreign currency exchange rates and interest rates. Market risk is the potential loss arising from changes in market rates and prices. Our risk management strategy includes managing these risks through our regular operating and financing activities and, when appropriate, through the use of derivative financial instruments. We utilize derivative financial instruments to hedge economic exposures, as well as reduce earnings and cash flow volatility resulting from shifts in market rates. In using derivative financial instruments to hedge our exposures to changes in exchange rates, we expose ourselves to counterparty credit risk. We manage our exposure to counterparty credit risk by entering into derivative financial instruments with investment grade-rated institutions that can be expected to perform fully under the terms of the

agreements and by diversifying the financial institutions with which we enter into such agreements. There can be no guarantee that the risk management activities that we have entered into will be sufficient to fully offset market risk or reduce earnings and cash flow volatility resulting from shifts in market rates. See Note 6 of the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for additional discussion of our financial risk management.

Foreign Currency Risk

While approximately 52% of our revenue is priced in U.S. dollars, we recognize a substantial amount of revenue under contracts that are denominated in euros, British pounds, Japanese yen, and Brazilian real, among other currencies. A significant increase in the value of the U.S. dollar relative to these currencies may have a material adverse effect on the value of those services when translated into U.S. dollars.

We serve many of our U.S.-based, European and British clients from our delivery centers located around the world. As a result, a substantial portion of the costs to deliver these services is denominated in the local currency of the country where the services are performed. This creates foreign exchange exposure for us. As of August 31, 2026, we have hedged a portion of our exposure related to the anticipated cash flow requirements denominated in certain foreign currencies by entering into hedging contracts with institutions to acquire a total of PHP 44,440.0 million at a fixed price of $739.4 million at various dates through August 2028; and INR 32,590.0 million at a fixed price of $345.6 million at various dates through August 2028. The fair value of these derivative instruments as of August 31, 2026 is presented in Note 7 of the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q. The potential loss in fair value at August 31, 2026 for such contracts resulting from a hypothetical 10% adverse change in the underlying foreign currency exchange rates is approximately $103.9 million. This loss would be substantially offset by corresponding gains on the underlying foreign currency exposures.

Other foreign currency exposures arise from transactions denominated in a currency other than the functional currency. We periodically enter into hedging contracts that are not denominated as hedges. The purpose of these derivative instruments is to mitigate the risk of foreign currency exposure related to receivables, payables, and intercompany transactions that are denominated in currencies that are different from the functional currencies of our respective legal entities that are party to the transactions.

Interest Rate Risk

At August 31, 2026, our outstanding debt under our Restated Credit Agreement and our Securitization Facility is variable rate debt, which exposes the Company to changes in interest rates. Holding other variables constant, including the total amount of outstanding indebtedness, a one hundred basis point increase in interest rates on our variable-rate debt would cause an estimated increase in interest expense of approximately $24.4 million per year.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures

Based on the evaluation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as required by Rules 13a-15(b) or 15d-15(b) under the Exchange Act, our principal executive officer and principal financial officer have concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were effective to ensure that information required to be disclosed by Concentrix in reports that it files or submits under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms, and include controls and procedures designed to ensure that information required to be disclosed by us in such reports is accumulated and communicated to our management, including the principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in internal control over financial reporting

There were no changes in our internal control over financial reporting that occurred during our third fiscal quarter of fiscal year 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II—OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we are involved in legal proceedings in the ordinary course of business. We do not believe that these proceedings will have a material adverse effect on the results of our operations, our financial position, or the cash flows of our business. During the three months ended August 31, 2026, there were no new material legal proceedings and no material developments in any legal proceedings reported in our Annual Report on Form 10-K for the fiscal year ended November 30, 2025.

ITEM 1A. RISK FACTORS

You should carefully review and consider the information regarding certain factors that could materially affect our business, results of operations, and financial condition set forth in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended November 30, 2025. There have been no material changes from the risk factors disclosed in our Annual Report on Form 10-K for the fiscal year ended November 30, 2025.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table summarizes the Company’s purchases of common stock under the Company’s share repurchase program during the fiscal quarter ended August 31, 2026:


Period	Total number of shares purchased (1), (2)	Average price paid per share	Total number of shares purchased as part of publicly announced program (3)	Maximum dollar amount that may yet be purchased under the program (in thousands) (3)
June 1, 2026 - June 30, 2026	801	$	26.19	—	$	396,602
July 1, 2026 - July 31, 2026	2,081	$	24.42	—	$	396,602
August 1, 2026 - August 31, 2026	87	$	23.33	—	$	396,602
Total	2,969	$	24.86	—

(1) Includes shares withheld upon the vesting of certain equity awards to satisfy tax withholding obligations.

(2) During the periods presented, we did not repurchase any shares under the Company’s publicly announced share repurchase program, which was initiated in September of 2021.
(3) In January 2025, the Company’s board of directors extended the share repurchase program by authorizing an increase of the amount remaining for share repurchases under the existing share repurchase authorization to $600,000. The repurchase program has no termination date and may be suspended or discontinued at any time.

ITEM 5. OTHER INFORMATION

During the three months ended August 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K.

ITEM 6. EXHIBITS


Exhibit No.		Exhibit Description


3.1		Composite Amended and Restated Certificate of Incorporation of the Company, as amended by the Certificate of Amendment of the Certificate of Incorporation of Concentrix Corporation, filed March 25, 2025 (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q filed on April 4, 2025).

3.2		Amended and Restated Bylaws of the Company, as amended (incorporated by reference to Exhibit 3.2 to the Company’s Quarterly Report on Form 10-Q filed on April 4, 2025).

10.1		Seventh Amendment to Receivables Financ ing Agreement, date d as of July 31, 2026 , by and among Concentrix Rec eivables , Inc., as borrower, the Company , as ser vicer, the group agents and the lend ers party thereto, and PNC Bank, National Associat ion, as administrative agent.

10.2		Concentrix Corporat ion Amended and Restated Executive Severance Plan, dated July 23, 2026 (incorporated by reference to Exhibit 10.1 to the Company ’s Current Report on Form 8-K filed on July 24, 2 026).

31.1		Certification of Chief Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended.

31.2		Certification of Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as amended.

32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Date: October 7, 2026	CONCENTRIX CORPORATION



	By:	/s/ Christopher Caldwell
		Christopher Caldwell
		President and Chief Executive Officer



	By:	/s/ Andre Valentine
		Andre Valentine
		Chief Financial Officer

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