CNDT

MKT CAP:$266M

Conduent Incorporated

Market Cap

$266M

Technology·Information Technology Services·🇺🇸 United States·NASDAQ

Technology·IT Services·🇺🇸·NASDAQ

Stock Price

$1.71-$0.19 (-10.26%)

Apr 24, 2026

Company Details

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Indu...

CEO

Harsha V. Agadi

IPO Date

Dec 13, 2016

Website

www.conduent.com

Key Metrics TTM

Revenue

$3.0B

-9.4% YoY

Net Income

-$170M

EPS (Diluted)

-$1.13

Free Cash Flow

-$147M

Revenue / Share

$19.78

Gross Margin

18.1%

Operating Margin

4.2%

Net Margin

-5.6%

FCF Margin

-4.8%

P/S

0.1x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 19, 2026

$3.0B-9.4%EPS -$1.14

Q4 2025

Feb 19, 2026

$770M-3.8%EPS -$0.23

Q3 2025

Nov 7, 2025

$767M-5.0%EPS -$0.30

Q2 2025

Aug 6, 2025

$754M-8.9%EPS -$0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$967M	$212M	$109M
Q2 22	$928M	$201M	$72M
Q3 22	$977M	$223M	$90M
Q4 22	$986M	$204M	$80M
Q1 23	$922M	$202M	$89M
Q2 23	$915M	$211M	$92M
Q3 23	$932M	$208M	$91M
Q4 23	$953M	$213M	$97M
Q1 24	$921M	$186M	$68M
Q2 24	$828M	$151M	$35M
Q3 24	$807M	$151M	$35M
Q4 24	$800M	$138M	-$24M
Q1 25	$751M	$133M	$3M
Q2 25	$754M	$137M	$36M
Q3 25	$767M	$136M	$39M
Q4 25	$770M	$146M	$49M

Valuation

Quarter	P/S	P/E
Q1 22	0.1x	2.2x
Q2 22	0.1x	2.5x
Q3 22	0.1x	2.4x
Q4 22	0.1x	—
Q1 23	0.1x	—
Q2 23	0.1x	—
Q3 23	0.1x	—
Q4 23	0.1x	—
Q1 24	0.1x	—
Q2 24	0.1x	8.3x
Q3 24	0.1x	0.6x
Q4 24	0.1x	0.6x
Q1 25	0.1x	1.0x
Q2 25	0.1x	13.3x
Q3 25	0.1x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$11M	-$39M
Q2 22	-$16M	-$49M
Q3 22	$98M	$71M
Q4 22	$51M	$21M
Q1 23	-$12M	-$34M
Q2 23	-$10M	-$30M
Q3 23	-$11M	-$33M
Q4 23	$122M	$93M
Q1 24	-$37M	-$58M
Q2 24	-$41M	-$66M
Q3 24	-$13M	-$29M
Q4 24	$41M	$52M
Q1 25	-$58M	-$76M
Q2 25	-$15M	-$35M
Q3 25	-$39M	-$60M
Q4 25	$39M	$24M

Capital Expenditures

Quarter	CapEx
Q1 22	$50M
Q2 22	$33M
Q3 22	$27M
Q4 22	$30M
Q1 23	$22M
Q2 23	$20M
Q3 23	$22M
Q4 23	$29M
Q1 24	$21M
Q2 24	$25M
Q3 24	$16M
Q4 24	$11M
Q1 25	$18M
Q2 25	$20M
Q3 25	$21M
Q4 25	$15M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-5.9%	-6.0%
Q2 22	-9.6%	-4.7%
Q3 22	-5.9%	-2.4%
Q4 22	-5.9%	-3.4%
Q1 23	-4.7%	-2.9%
Q2 23	-1.4%	-3.9%
Q3 23	-4.6%	-5.2%
Q4 23	-3.3%	-5.5%
Q1 24	-0.1%	+2.4%
Q2 24	-9.5%	-3.6%
Q3 24	-13.4%	-8.2%
Q4 24	-16.1%	-3.7%
Q1 25	-18.5%	-12.3%
Q2 25	-8.9%	-9.5%
Q3 25	-5.0%	-5.7%
Q4 25	-3.8%	-12.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	0.2%
Q2 22	$7M	0.8%
Q3 22	$6M	0.6%
Q4 22	$6M	0.6%
Q1 23	$2M	0.2%
Q2 23	$6M	0.7%
Q3 23	$5M	0.5%
Q4 23	$6M	0.6%
Q1 24	$3M	0.3%
Q2 24	$5M	0.6%
Q3 24	$6M	0.7%
Q4 24	$5M	0.6%
Q1 25	$3M	0.4%
Q2 25	$5M	0.7%
Q3 25	$5M	0.7%
Q4 25	$6M	0.8%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$1M	—
Q2 22	$2M	—
Q3 22	$2M	—
Q4 22	$2M	—
Q1 23	$2M	—
Q2 23	$1M	—
Q3 23	$2M	—
Q4 23	$2M	—
Q1 24	$2M	—
Q2 24	$1M	—
Q3 24	$1M	—
Q4 24	$2M	$109M
Q1 25	$1M	—
Q2 25	$1M	—
Q3 25	$1M	—
Q4 25	$1M	$96M

Revenue Segments

Quarter	Commercial Industries segment	Government services	Other Segments	Transportation Services	Other Operating Segment	Commercial Segment	Government Segment	Transportation Segment
Q1 22	$512M	$286M	$7M	$162M	—	—	—	—
Q2 22	$470M	$279M	—	$179M	—	—	—	—
Q3 22	$504M	$291M	—	$182M	—	—	—	—
Q4 22	$506M	$294M	—	$186M	—	—	—	—
Q1 23	$508M	$264M	—	$150M	—	—	—	—
Q2 23	$471M	$270M	—	$174M	—	—	—	—
Q3 23	$465M	$290M	—	$177M	—	—	—	—
Q4 23	$488M	$270M	—	$195M	—	—	—	—
Q1 24	$483M	$258M	—	$180M	—	—	—	—
Q2 24	$425M	$245M	—	$141M	$17M	—	—	—
Q3 24	$385M	$255M	—	$141M	$26M	—	—	—
Q4 24	$313M	$226M	—	$124M	$137M	—	—	—
Q1 25	$402M	$216M	—	$133M	—	—	—	—
Q3 25	—	—	—	—	—	$367M	$238M	$162M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$588M	$0	$588M
Q2 22	$519M	$0	$519M
Q3 22	$577M	$0	$577M
Q4 22	$582M	$0	$582M
Q1 23	$526M	$0	$526M
Q2 23	$500M	$0	$500M
Q3 23	$451M	$0	$451M
Q4 23	$498M	$0	$498M
Q1 24	$424M	$0	$424M
Q2 24	$300M	$0	$300M
Q3 24	$393M	$0	$393M
Q4 24	$366M	$0	$366M
Q1 25	$277M	$0	$277M
Q2 25	$275M	$0	$275M
Q3 25	$264M	$0	$264M
Q4 25	$233M	$0	$233M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	224M	+11.9%	+5.5%
Q2 22	216M	-3.7%	-2.1%
Q3 22	219M	+1.8%	-0.2%
Q4 22	217M	-1.3%	+8.3%
Q1 23	218M	+0.9%	-2.4%
Q2 23	218M	-0.0%	+1.3%
Q3 23	217M	-0.5%	-1.0%
Q4 23	214M	-1.7%	-1.3%
Q1 24	216M	+1.0%	-1.2%
Q2 24	202M	-6.3%	-7.5%
Q3 24	171M	-15.3%	-21.3%
Q4 24	160M	-6.3%	-24.9%
Q1 25	162M	+0.9%	-25.0%
Q2 25	161M	-0.4%	-20.2%
Q3 25	161M	0.0%	-5.8%
Q4 25	154M	-4.6%	-4.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$16.1K	60K
Q2 22	$15.5K	60K
Q3 22	$16.3K	60K
Q4 22	$15.9K	62K
Q1 23	$14.9K	62K
Q2 23	$14.8K	62K
Q3 23	$15.0K	62K
Q4 23	$16.2K	59K
Q1 24	$15.6K	59K
Q2 24	$14.0K	59K
Q3 24	$13.7K	59K
Q4 24	$14.3K	56K
Q1 25	$13.4K	56K
Q2 25	$13.5K	56K
Q3 25	$13.7K	56K
Q4 25	$15.1K	51K

Revenue / Employee