Successfully completed AI pilot with Microsoft – now live – boosts fraud detection
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, is embedding generative AI (GenAI) and other advanced AI technologies into its suite of solutions for state and federal agencies. These technologies aim to improve the disbursement of critical government benefits, enhance the citizen experience, and fortify fraud prevention across major aid programs like Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
As part of a recently completed GenAI pilot with Microsoft – originally announced in 2024 and now fully deployed – Conduent has significantly increased its fraud detection capacity for its largest open-loop payment card programs. Because these cards can be used at a wide range of merchants, monitoring for fraud is particularly complex. Leveraging AI, a small team of specialists can now surveil tens of thousands of accounts for suspicious activity, including identity theft and account takeover with significant improvement in accuracy. This capability is in the process of being scaled to other payment card programs.
Following the pilot’s success, Conduent is now seeking to apply similar AI methodologies to help detect and prevent fraud in Medicaid and closed-loop EBT cards, including SNAP benefits – helping safeguard usage at approved retailers. A leader in government payment disbursements, Conduent currently supports electronic payments for public programs in 37 states.
“As states adapt to evolving budget constraints and eligibility requirements, AI can empower agencies to reduce fraud and improper payments while improving service delivery,” said Anna Sever, President, Government Solutions at Conduent. “With decades of experience supporting critical government programs, Conduent is deepening its investment in AI to expand these gains across multiple programs.”
Transforming Customer Support with AI
Conduent is also deploying AI to drive improvements in the contact center experience for public benefit recipients. A standout example is the Conduent GenAI-powered capability that equips agents with instant access to accurate, program-specific information – reducing call handling times.
Conduent provides U.S. agencies with solutions for healthcare claims administration, government benefit payments, eligibility and enrollment, and child support. Visit Conduent Government Solutions to learn more.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced it has successfully completed a refinancing of its existing term loan and revolving credit agreements.
Key Highlights of the Refinancing:
Full Prepayment of the Term Loan
Renewed Revolving Credit Facility
New Performance Letter of Credit Facility
Giles Goodburn, Conduent’s CFO, commented, “Completing this refinancing marks a key milestone in our strategy, further strengthening our financial foundation and positioning Conduent for future growth. This transaction provides the right mix of debt instruments to support our operations and capital allocation strategy.”
Additional details of the refinancing can be found in Conduent’s 8-K which will be filed with the U.S. Securities and Exchange Commission.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q2 results. Q2 revenue of $754 million aligned with our estimate, while adj. EBITDA of $37 million exceeded our forecast of $33 million. All three segments delivered sequential, new business, Annual Contract Value (ACV ) growth, a key forward indicator. This sales momentum supports our view that Conduent is on track to return to top-line growth in 2026.
Big Beautiful Bill may present upside. We view the recently passed “Big Beautiful Bill” as a potential tailwind for Conduent’s Government segment. The legislation tightens eligibility enforcement for public benefits, which may drive increased demand for outsourced eligibility verification and fraud detection, which are core capabilities for the company.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q2 results. Conduent reported second-quarter revenue of $754 million, in line with our estimate. Adj. EBITDA of $37 million exceeded our $33 million forecast. Importantly, all three business segments posted sequential growth in new business annual contract value, signaling building commercial momentum and suggesting that execution is improving across the platform.
Portfolio rationalization in the works. The company collected the remaining $50 million from its Curbside Management divestiture, completing phase one of its portfolio rationalization strategy. Management indicated additional transactions are in progress, aimed at boosting profitability. We believe updates are likely by year-end, as the team continues to reshape the business with a focus on higher-margin opportunities.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Harsha V. Agadi Named Chairman, Succeeds Scott Letier
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced the appointment of Harsha V. Agadi as Chairman of its Board of Directors, effective August 6. He succeeds Scott Letier, who now chairs the Board’s Audit Committee.
Mr. Agadi joined Conduent’s Board in 2025 and previously led its Audit Committee. Mr. Letier has served as a director since 2018 and as Chairman since 2021. These leadership changes are part of the Board’s practice of rotating board roles and commitment to strategic governance, as noted in the company’s Form 8-K filing on June 25.
“We’re pleased to welcome Harsha to the role of Chairman,” said Cliff Skelton, President and CEO of Conduent. “His leadership and global business experience will be invaluable as we continue driving value for shareholders, clients, and associates. We also thank Scott for his significant contributions and leadership as Chairman during a period of transformation and growth.”
Mr. Agadi, Chairman and CEO of GHS Holdings, LLC, brings over 35 years of experience in executive leadership and corporate governance across multiple industries in Public and Private companies.
“I’m honored to take on this role and grateful for the trust of my fellow Board members,” said Mr. Agadi. “I’m impressed with Conduent’s progress and its management team’s dedication to transform Conduent, and I look forward to working closely with the Conduent team to continue to advance our strategy and deliver meaningful impact for our stakeholders.”
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government, and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation, and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise, and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies, and reduce costs. Conduent adds momentum to its clients’ missions in various ways, including disbursing approximately $85 billion in government payments annually, facilitating 2.3 billion customer service interactions, empowering millions of employees through HR services each year, and processing nearly 13 million tolling transactions daily. Learn more at www.conduent.com.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
FLORHAM PARK, N.J., Aug. 06, 2025 — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business process solutions and services company, today announced its second quarter 2025 financial results.
Cliff Skelton, Conduent President and Chief Executive Officer, stated, “Q2 marks another quarter of progress on our journey. We exceeded expectations for Adjusted EBITDA and Adjusted EBITDA margin. Q2 Revenue was in line with guidance and while often affected by seasonality and economic conditions, was slightly higher sequentially. New business signings improved both year-over-year and sequentially, supported by a robust pipeline. Notably, our investments in technology platforms and client relationships are resulting in accelerated performance in our Transportation segment. Furthermore, government and legislative decisions may unlock additional opportunities for our Government segment. As we’ve shared previously, our portfolio rationalization efforts will continue and are expected to positively impact our margin and cash flow. These efforts also narrow the focus for our leaders, many of whom recently joined Conduent, bringing with them industry experience from well-regarded companies.”
Skelton continued, “We are pleased to welcome our new Chairman of the Board, Harsha Agadi, who, with his wealth of experience, assumes this role at a critical strategic juncture as we pivot to growth and address the next round of portfolio opportunities. We also extend our gratitude to Scott Letier for his several years as Chairman. Scott’s leadership and mentorship have been invaluable, and he will retain important positions on the Board going forward. Looking ahead, the Board and Management remain confident in our strategy, momentum and ability to execute.”
Key Financial Q2 2025 Results
($ in millions, except margin and per share data)
Q2 2025
Q2 2024
Current Quarter Y/Y B/(W)
Revenue
$754
$828
(8.9)%
Adjusted Revenue(1)
$754
$774
(2.6)%
GAAP Net Income (Loss)
$(40)
$216
n/m
Adjusted EBITDA(1)
$37
$24
54.2%
Adjusted EBITDA Margin(1)
4.9%
3.1%
180 bps
GAAP Income (Loss) Before Income Tax
$(38)
$300
n/m
GAAP Diluted EPS
$(0.26)
$1.07
n/m
Adjusted Diluted EPS(1)
$(0.13)
$(0.14)
7.1%
Cash Flow from Operating Activities
$(15)
$(41)
63.4%
Adjusted Free Cash Flow(1)
$(30)
$(55)
45.5%
Performance Commentary Conduent’s liquidity position at the end of the quarter remained strong, and the $550 million revolving credit facility is largely undrawn.
Pre-tax income (loss) for the second quarter of 2025 was $(38) million versus $300 million in the prior year period. This decrease is primarily caused by the divestiture-driven gain on the transfer of the BenefitWallet portfolio and the sale of the Curbside Management and Public Safety businesses in the prior year period.
Q2 2025 Adjusted EBITDA of $37 million and Adjusted EBITDA Margin of 4.9% both increased versus the prior year period and exceeded expectations.
In the second quarter of 2025, Conduent repurchased approximately 2.7 million shares of common stock.
Additional Q2 2025 Performance Highlights
Expanded finance and procurement solutions leveraging Fairmarkit’s AI-Powered Technologies including GenAI. The collaboration is designed to optimize procurement workflows and complement Conduent’s FastCap® Finance Analytics, which improves financial performance by identifying cost-saving opportunities within procurement and spend management;
Implemented a technology feature that allows SNAP recipients to lock and unlock their EBT accounts using Conduent’s ConnectEBT mobile app and cardholder portal, giving beneficiaries greater control and helping to prevent fraud for a 12th U.S. state;
Named Supplier of the Year by General Motors for the fourth time, which recognizes global suppliers for their execution across key categories such as safety, innovation and resilience;
Recognized as a Leader in two 2025 NelsonHall Vendor Evaluation & Assessment Tools (NEAT) reviews focused on HR & Talent Transformation services for Benefits Administration & Experience-Led HR Transformation;
Named a Newsweek 2025 Top 100 Global Most Loved Workplace, marking Conduent’s third consecutive appearance among the Top 100 companies worldwide; and
Implemented a new EMV (Europay, Mastercard, and Visa) contactless fare collection system for Gestione Governativa Navigazione Laghi in Italy, one of the first EMV contactless systems deployed for boat transportation in the country.
FY 2025 Outlook(3)
FY 2024 Actuals
FY 2025 Outlook(3)
Adj. Revenue(1)
$3,176M
$3,100M – $3,200M
Adj. EBITDA(1) / Adj. EBITDA Margin(1)
$124M / 3.9%
5.0% – 5.5%
(1) Refer to Appendix for definition and complete non-GAAP reconciliations of Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS and Adjusted Free Cash Flow. (2) Refer to Appendix for definition. (3) Refer to Appendix for additional information regarding non-GAAP outlook.
Conference Call Management will present the results during a conference call and webcast on August 6, 2025 at 9:00 a.m. ET.
The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/.
The conference call will also be available by calling 877-407-4019 toll-free. If requested, the conference ID for this call is 13754400.
The international dial-in is 1-201-689-8337. The international conference ID is also 13754400.
A recording of the conference call will be available by calling 1-877-660-6853 three hours after the conference call concludes. The replay ID is 13754400.
The telephone recording will be available until Aug 20, 2025.
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 53,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling approximately 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 13 million tolling transactions every day. Learn more at www.conduent.com.
Non-GAAP Financial Measures We have reported our financial results in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). In addition, we have discussed our financial results using non-GAAP measures. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, our reported results prepared in accordance with U.S. GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. Our management regularly uses our non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. Providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. Refer to the “Non-GAAP Financial Measures” section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported U.S. GAAP measures.
Forward-Looking Statements
This press release, any exhibits or attachments to this release, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “expectations,” “in front of us,” “plan,” “intend,” “will,” “aim,” “should,” “could,” “forecast,” “target,” “may,” “continue to,” “looking to continue,” “endeavor,” “if,” “growing,” “projected,” “potential,” “likely,” “see,” “ahead,” “further,” “going forward,” “on the horizon,” “as we progress,” “going to,” “path from here forward,” “think,” “path to deliver,” “from here,” “on track,” “remain” and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding our financial results, condition and outlook; changes in our operating results; general market and economic conditions; and our projected financial performance, including all statements made under the section captioned “FY 2025 Outlook” within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make.
Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: government appropriations and termination rights contained in our government contracts, the competitiveness of the markets in which we operate and our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; risk and impact of geopolitical events and increasing geopolitical tensions (such as the war in the Ukraine and conflict in the Middle East), macroeconomic conditions, natural disasters and other factors in a particular country or region on our workforce, customers and vendors; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; expectations relating to environmental, social and governance considerations; utilization of our stock repurchase program; risks related to our use of artificial intelligence; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; risks related to hacking or other cybersecurity threats to our data systems, information systems and network infrastructure and other service interruptions, including relating to the previously disclosed cyber event that took place in January 2025, including Conduent’s investigation of such incident and mitigation and remediation efforts, the nature and extent of such incident, the potential disruption to our business or operations, the potential impact on Conduent’s reputation, and Conduent’s assessments of the likely financial and operational impacts of such incident; our ability to comply with data security standards; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; risks related to recently completed divestitures including (i) the transfer of the Company’s BenefitWallet’s health savings account, medical savings account and flexible spending account portfolio, (ii) the sale of the Company’s Curbside Management and Public Safety Solutions businesses and (iii) the sale of the Company’s Casualty Claims Solutions business, including but not limited to the Company’s ability to realize the benefits anticipated from such transactions, unexpected costs, liabilities or delays in connection with such transactions, and the significant transaction costs associated with such transactions; risk and impact of potential goodwill and other asset impairments; our significant indebtedness and the terms of such indebtedness; our failure to obtain or maintain a satisfactory credit rating and financial performance; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; increases in the cost of voice and data services or significant interruptions in such services; our ability to receive dividends or other payments from our subsidiaries; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law.
The combination of Conduent’s and Fairmarkit’s industry expertise and technology delivers real savings and revolutionizes the sourcing process.
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services provider, today announced a strategic collaboration with Fairmarkit, an autonomous AI-powered sourcing platform designed to optimize procurement workflows from RFP to award for all levels of spend. The Fairmarkit sourcing technology will complement Conduent’s FastCap® Finance Analytics, which improves financial performance by identifying cost-saving opportunities within procurement and spend management.
Fairmarkit Brings World-Class AI Tools to Drive More Powerful Results Fairmarkit’s platform utilizes the most impactful AI technologies to enable robust procurement support:
Streamline Procurement Processes – Support full range of workflow processes from sourcing strategic suppliers to managing RFP responses and awards to drive greater efficiency and visibility across suppliers.
Enhance Sourcing Accuracy – Use AI-driven insights to refine purchasing decisions.
Expand Cost-Saving Opportunities – Offer real-time data analytics to optimize spend management.
The data from FastCap, a finance analytics tool that prevents and recovers payment errors, can identify opportunities to improve tail spend. Combining the capabilities of FastCap and Fairmarkit automates the capture of those tail spend opportunities to accelerate savings.
By preventing or recovering overpayments, FastCap identified over $800 million of savings and recoveries, representing up to 10% of addressable spend, since 2021. Through spend compliance, automated bidding and enhanced supply options, FastCap and Fairmarkit together could drive 3-6% more in savings for companies.
“FastCap has resulted in significant savings for clients, while helping to drive contract compliance, risk reduction and financial visibility,” said Mike McDaniel, Group President of Commercial Solutions at Conduent. “We will continue to expand FastCap’s capabilities to solve key client challenges and generate business outcomes. Collaborating with innovative solution partners like Fairmarkit helps our clients further advance their objectives and create stronger financial results.”
“We’re thrilled to partner with Conduent to bring the power of AI-powered sourcing to a broader range of procurement teams,” said Allison Yount, Vice President of Partnerships and Business Development at Fairmarkit. “Conduent’s deep expertise in procurement transformation, combined with Fairmarkit’s intelligent technology and experience working with the world’s leading procurement teams, creates a compelling solution that empowers organizations to optimize their spend, streamline processes, and unlock new value from their sourcing activities.”
Conduent’s Finance, Accounting and Procurement Solutions —now enhanced by Fairmarkit’s capabilities—accelerate cost savings while streamlining procurement processes, empowering organizations to make smarter, data-driven decisions.
About Fairmarkit Fairmarkit is the premiere AI-powered autonomous sourcing solution for enterprise procurement, empowering teams to manage all types of spend more efficiently from demand to award. Fairmarkit’s award-winning AI product suite delivers unparalleled efficiency to each step of the procurement cycle, equipping teams to source better, faster and cheaper with greater risk mitigation. Procurement teams from Amazon, BP, Goodyear, Nestle and other global powerhouses are using Fairmarkit to take on more spend under management, enhance compliance, strengthen supplier relationships, and achieve record savings. For more information, visit Fairmarkit.com.
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Forward-Looking Statements This press release, any exhibits or attachments to this release, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “expectations,” “in front of us,” “plan,” “intend,” “will,” “aim,” “should,” “could,” “forecast,” “target,” “may,” “continue to,” “looking to continue,” “endeavor,” “if,” “growing,” “projected,” “potential,” “likely,” “see,” “ahead,” “further,” “going forward,” “on the horizon,” “as we progress,” “going to,” “path from here forward,” “think,” “path to deliver,” “from here,” “on track,” “remain” and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding the planned adoption of technology, including all statements made under the first paragraph under the caption “Future EMV Chip and Mobile Wallet Integration” within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make.
Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to those factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, plans to report its second-quarter 2025 financial results on Wednesday, Aug. 6, 2025 before market open. Management will present the results during a conference call and webcast at 9:00 a.m. ET.
The call will be available by live audiocast along with the news release and online presentation slides at https://investor.conduent.com.
The conference call will also be available by calling 877-407-4019 toll free. If requested, the conference ID is 13754400.
The international dial-in is +1 201-689-8337. The international conference ID is also 13754400.
A recording of the conference call will be available by calling 877-660-6853 three hours after the conference call concludes. The access ID for the recording is 13754400.
The call recording will be available until Aug. 20, 2025.
We look forward to your participation.
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
Lock/Unlock Feature Now Live in 12 States to Help Safeguard SNAP Benefits
FLORHAM PARK, N.J.–(BUSINESS WIRE)–Jul. 22, 2025– Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, announced the continued deployment of its Electronic Benefits Transfer (EBT) solutions to enhance security and the end-user experience. These enhancements include fraud prevention tools such as intelligent voice systems that detect suspicious calls, technologies enabling the planned move to EBT chip cards and mobile wallet integration, as well as a Conduent feature that locks and unlocks accounts, which is now being used in 12 U.S. states.
The lock/unlock feature enables recipients of government assistance – specifically participants in the Supplemental Nutrition Assistance Program (SNAP) – to lock and unlock their EBT accounts through Conduent’s ConnectEBT mobile app and cardholder portal.
Benefit recipients can lock their card to block all purchases or limit the blocking to purchases outside of their home state, giving them greater control and helping to prevent unauthorized access by fraudsters.
Technology Backed by Conduent’s VeriSight Anti-Fraud Suite
Beyond account locking, Conduent’s VeriSight suite includes an advanced interactive voice response (IVR) system for EBT customer service centers. The system uses behavioral analytics to detect patterns such as excessive calls from a single number, enabling real-time restrictions to prevent suspicious access attempts.
Additionally, users of Conduent’s ConnectEBT app can opt in to receive real-time usage alerts – empowering them to quickly detect and report potentially fraudulent activity.
Future EMV Chip and Mobile Wallet Integration
Meanwhile, Conduent continues to work with several states to prepare for the introduction of SNAP cards with EMV (Europay, Mastercard, and Visa) chip technology, which will further boost card security and reduce fraud risks at points of sale. The company is also poised to support state implementations of mobile wallet functionality, including Apple Pay and Google Pay, to bring added convenience and modernize benefit access.
“With decades of experience in helping state agencies serve residents more effectively, operate more efficiently, and ensure that public aid goes to the intended recipients, our EBT lock-and-unlock feature is one of many solutions Conduent is delivering to combat fraud that threatens taxpayer funds,” said Anna Sever, President, Government Solutions at Conduent. “Our team continues to make progress in implementing important features in more states, while also integrating AI technologies to automate processes, improve efficiency, and reduce costs, while improving service for the people who depend on these critical benefits.”
Conduent is a leading provider of government payment disbursements for federally funded benefit and payment card programs. The company also supports U.S. agencies with end-to-end solutions for healthcare claims processing, eligibility and enrollment, and child support administration.
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Forward-Looking Statements This press release, any exhibits or attachments to this release, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “expectations,” “in front of us,” “plan,” “intend,” “will,” “aim,” “should,” “could,” “forecast,” “target,” “may,” “continue to,” “looking to continue,” “endeavor,” “if,” “growing,” “projected,” “potential,” “likely,” “see,” “ahead,” “further,” “going forward,” “on the horizon,” “as we progress,” “going to,” “path from here forward,” “think,” “path to deliver,” “from here,” “on track,” “remain” and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding the planned adoption of technology, including all statements made under the first paragraph under the caption “Future EMV Chip and Mobile Wallet Integration” within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make.
Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to those factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
One of the first contactless payment systems introduced for boat transportation in Italy
MILAN & FLORHAM PARK, N.J. — Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), has implemented a new EMV (Europay, Mastercard, and Visa) contactless payment system for Gestione Governativa Navigazione Laghi, the government agency of the Ministry of Infrastructure and Transport that operates a fleet of boats on Lakes Maggiore, Garda, and Como in northern Italy. This marks one of the first EMV contactless payment systems deployed for boat transportation in Italy.
Enhancing Passenger Convenience Through Digitalization
The new contactless payment system simplifies transactions for passengers by enabling tap-in and tap-out payments using the on-board validators with contactless debit and credit cards, as well as NFC-enabled digital wallets. This advancement modernizes the fare structure and facilitates the digitalization of payments, making travel more seamless and efficient.
Complementing the electronic ticketing system previously implemented by Conduent at ticket offices across the three lakes, this new solution enhances on-board accessibility, facilitating a smooth travel experience for the 12 million passengers Navigazione Laghi serves annually.
“Operating an efficient, passenger-friendly boat fleet is vital to the transportation network on Lakes Maggiore, Garda, and Como, which are some of Italy’s most visited destinations,” said Pietro Marrapodi, Government Manager at Navigazione Laghi. “As part of the public tender won by Conduent, we first introduced electronic ticketing, and now we’ve further enhanced the system with EMV contactless payment. This upgrade gives passengers more flexible ticketing options, ensuring a seamless travel experience.”
Industry Leaders in EMV Payment Systems for Transportation
“Navigazione Laghi’s adoption of contactless EMV payment systems reflects a global shift toward digitalized ticketing,” said Jean-Charles Zaia, President, Transit Solutions at Conduent. “Across the world, transportation authorities are modernizing their systems, encouraging wider adoption of EMV payment methods. Contactless EMV solutions make travel easier for passengers while enabling dynamic and flexible fare management – key benefits of public transport digitalization.”
Conduent fare collection systems are in use on more than 400 public transit networks of all sizes around the world. In July 2024, Conduent announced that it had launched a contactless payment system on the Venice transportation network managed by Azienda Veneziana della Mobilità (AVM).
Conduent Transportation is a leading provider of streamlined, high-volume mobility services and solutions, spanning tolling and advanced transit systems, which enhance the services provided by transportation agencies to benefit the citizens who use them. For over 50 years, the company has helped clients advance transportation solutions in more than 20 countries.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Investment thesis on track. We believe the company is on track to deliver on our full-year revenue and adj. EBITDA forecast, despite investor concerns around federal budget cuts, to which we believe the company has limited actual exposure. Moreover, although there may be some concerns over disruption from potential new asset sales, we anticipate that additional sales would likely focus on lower-margin business units and could help to bolster the company’s long-term cashflow margin profile.
Re-affirming full year 2025 estimates. While we are largely maintaining our full year estimates, we are fine-tuning the quarterly cadence of adj. EBITDA to better reflect seasonality. Our Q2 and Q3 adj. EBITDA estimates are raised to $33 million and $52 million, respectively, while Q4 is lowered to $54 million, reflecting factors tied to SNAP and Medicare enrollment. We expect 2026 revenue growth of 3% to $3.22 billion with adj. EBITDA margin expansion to 8.0%.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid results. The company reported Q1 revenue of $751 million, slightly below our estimate of $767 million, illustrated in Figure #1 CNDT Q1 Results. Quarterly adj. EBITDA of $37 million was significantly higher than our estimate of $14 million, driven by better-than-expected operating cost reductions as the company works to remove stranded costs from its 2024 divestitures.
New business signings. During Q1, new business annual contract values (ACV) increased to $109 million, up 13.5% from $96 million in the prior year period. The total contract value (TCV) of the Q1 new business wins was $280 million, up an impressive 95.8%, year-over-year, indicating that management’s plan to return the organization to organic revenue growth is off to a good start, following a year that was more squarely focused on divestitures and debt reduction.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
FLORHAM PARK, NJ, May 7, 2025 – Conduent Incorporated (Nasdaq: CNDT), a global technology-led business process solutions and services company, today announced its first quarter 2025 financial results.
Cliff Skelton, Conduent President and Chief Executive Officer stated, “Conduent had a good start to 2025, especially amidst the broad uncertainty in the macro-economic landscape. Our results are in line with internal expectations and consistent with our 2025 outlook with respect to Adjusted Revenue, and
Adjusted EBITDA margins exceeded expectations. New business signings and our Net ARR Activity Metric, both signals of future growth, improved on a year-over-year basis. Operating cash flow comparison was negatively influenced by several one-time events in 2024 which when normalized, was better versus Q1 2024. Fortunately, while macro-economic and geopolitical environments affect everyone, most of our business segments are somewhat insulated from trade and government efficiency challenges, and in some cases, may benefit from opportunities. Our portfolio rationalization efforts are being reinvigorated with additional opportunities and are on track toward achieving more than $1B in deployable capital. Finally, we remain confident in achieving our previously stated 2025 exit rate targets we outlined two years ago.”
Key Financial Q1 2025 Results
($ in millions, except margin and per share data)
Q1 2025
Q1 2024
CurrentQuarterY/Y B/(W)
Revenue
$751
$921
(18.5)%
Adjusted Revenue(1)
$751
$821
(8.5)%
GAAP Net Income (Loss)
$(51)
$99
n/m
Adjusted EBITDA(1)
$37
$36
2.8%
Adjusted EBITDA Margin (1)
4.9%
4.4%
50 bps
GAAP Income (Loss) Before Income Tax
$(56)
$127
n/m
GAAP Diluted EPS
$(0.33)
$0.46
n/m
Adjusted Diluted EPS(1)
$(0.13)
$(0.09)
(44.4)%
Cash Flow from Operating Activities
$(58)
$(37)
(56.8)%
Adjusted Free Cash Flow(1)
$(74)
$(60)
(23.3)%
Performance Commentary
Conduent’s liquidity position at the end of the quarter remained strong with $293 million of cash and our $550 million revolving credit facility largely undrawn.
Pre-tax income (loss) for the first quarter of 2025 was $(56) million versus $127 million in the prior year period. This decrease is primarily driven by the gain on the transfer of the BenefitWallet portfolio in the prior year period.
Q1 2025 Adjusted EBITDA of $37 million and Adjusted EBITDA Margin of 4.9% both increased versus the prior year period and were ahead of our expectations.
Cash Flow from Operating Activities and Adjusted Free Cash Flow, while down year-over-year, are significantly better in Q1 2025 versus Q1 2024 when adjusting for the positive impacts of the tax refund and contributions from divested assets in the prior year period.
Additional Q1 2025 Performance Highlights
Conduent achieved several milestones in technology-led solutions, operational excellence and helping organizations achieve operating efficiencies:
As part of its efficiency and cost reduction initiatives, selected by a leading global logistics company to expand its digital customer experience based on proven outcomes, building on a trusted relationship spanning more than three decades;
Played an integral role in implementing a Congestion Relief Zone in New York City, the first of its kind in the United States, by facilitating the toll transactions and payment processing, helping to reduce traffic and improve air quality for the New York Metropolitan Area;
Launched fraud prevention tool that leverages traditional rules-based AI combined with GenAI to help prevent account take-over fraud in government benefits, initially being used in production for our payment card solutions to prevent fraud;
Awarded a contract by NJ TRANSIT to install state-of-the-art 3D fare gates at two New Jersey stations to modernize and enhance its fare collections and infrastructure;
Launched Conni, an innovative GenAI virtual assistant, designed to strengthen quality of inquiry results and improve customer experience across Conduent platforms for companies and government agencies;
Announced the selections by the Oklahoma State Department of Health and the Republic of Ireland’s Health Service Executive to deploy the company’s Maven system;
Announced a $92 million contract by the Alaska Department of Health, Division of Health Care Services to operate, manage and modernize the state’s MMIS;
For the fourth time, a leading healthcare provider recognized the Company’s for quality, ensuring efficient and effective call handling and delivering top performance through the use of analytics and insights; and
Secured a contract with the Urban Transport Authority for Lima and Callao (ATU) to implement a new transit fare collection system that enables interoperability across all transit options in the city of Lima and allows for new forms of payments including EMV and digital wallets.
FY 2025 Outlook(3)
FY 2024 Actuals
FY 2025 Outlook(3)
Adj. Revenue(1)
$3,176M
$3,100M – $3,250M
Adj. EBITDA(1) / Adj. EBITDA Margin(1)
$124M / 3.9%
4.5% – 5.5%
(1) Refer to Appendix for definition and complete non-GAAP reconciliations of Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS and Adjusted Free Cash Flow. (2) Refer to Appendix for definition. (3) Refer to Appendix for additional information regarding non-GAAP outlook.
Conference Call
Management will present the results during a conference call and webcast on May 7, 2025 at 9:00 a.m. ET.
The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/.
The conference call will also be available by calling 877-407-4019 toll-free. If requested, the conference ID for this call is 13752430.
The international dial-in is 1-201-689-8337. The international conference ID is also 13752430.
A recording of the conference call will be available by calling 1-877-660-6853 three hours after the conference call concludes. The replay ID is 13752430.
The telephone recording will be available until May 20, 2025.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 53,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling approximately 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 13 million tolling transactions every day. Learn more at www.conduent.com.
Non-GAAP Financial Measures
We have reported our financial results in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP). In addition, we have discussed our financial results using non-GAAP measures. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, our reported results prepared in accordance with U.S. GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. Our management regularly uses our non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. Providing such nonGAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. Refer to the “Non-GAAP Financial Measures” section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported U.S. GAAP measures.
Forward-Looking Statements
This press release, any exhibits or attachments to this release, and other public statements we make may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “expectations,” “in front of us,” “plan,” “intend,” “will,” “aim,” “should,” “could,” “forecast,” “target,” “may,” “continue to,” “looking to continue,” “endeavor,” “if,” “growing,”
“projected,” “potential,” “likely,” “see,” “ahead,” “further,” “going forward,” “on the horizon,” “as we progress,” “going to,” “path from here forward,” “think,” “path to deliver,” “from here,” “on track,” “remain” and similar expressions (including the negative and plural forms of such words and phrases), as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact included in this press release or any attachment to this press release are forward-looking statements, including, but not limited to, statements regarding our financial results, condition and outlook; changes in our operating results; general market and economic conditions; and our projected financial performance, including all statements made under the section captioned “FY 2025 Outlook” within this release. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, many of which are outside of our control, that could cause actual results to differ materially from those expected or implied by such forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make.
Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: government appropriations and termination rights contained in our government contracts, the competitiveness of the markets in which we operate and our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; risk and impact of geopolitical events and increasing geopolitical tensions (such as the war in the Ukraine and conflict in the Middle East), macroeconomic conditions, natural disasters and other factors in a particular country or region on our workforce, customers and vendors; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; expectations relating to environmental, social and governance considerations; utilization of our stock repurchase program; risks related to our use of artificial intelligence; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; risks related to hacking or other cybersecurity threats to our data systems, information systems and network infrastructure and other service interruptions, including relating to the cyber event that took place in January 2025, including Conduent’s investigation of such incident and mitigation and remediation efforts, the nature and extent of such incident, the potential disruption to our business or operations, the potential impact on Conduent’s reputation, and Conduent’s assessments of the likely financial and operational impacts of such incident; our ability to comply with data security standards; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; risks related to recently completed divestitures including (i) the transfer of the Company’s BenefitWallet’s health savings account, medical savings account and flexible spending account portfolio, (ii) the sale of the Company’s Curbside Management and Public Safety Solutions businesses and (iii) the sale of the Company’s Casualty Claims Solutions business, including but not limited to the Company’s ability to realize the benefits anticipated from such transactions, unexpected costs, liabilities or delays in connection with such transactions, and the significant transaction costs associated with such transactions; risk and impact of potential goodwill and other asset impairments; our significant indebtedness and the terms of such indebtedness; our failure to obtain or maintain a satisfactory credit rating and financial performance; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; increases in the cost of voice and data services or significant interruptions in such services; our ability to receive dividends or other payments from our subsidiaries; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” section and other sections in our 2024 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether because of new information, subsequent events or otherwise, except as required by law.
