Company: CNDT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001677703-25-000126
Chunk: 110

Company: CONDUENT Inc
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 110
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ization48 51 (3)(6)%Restructuring and related costs8 8 — — %Interest expense12 19 (7)(37)%(Gain) loss on divestitures and transaction costs, net4 (347)351 n/mLitigation settlements (recoveries), net— 1 (1)n/mLoss on extinguishment of debt— 3 (3)n/mOther (income) expenses, net2 — 2 n/mTotal Operating Costs and Expenses792 528 264 Income (Loss) Before Income Taxes(38)300 (338)Income tax expense (benefit)2 84 (82)Net Income (Loss)$(40)$216 $(256)

CNDT Q2 2025 Form 10-Q24

Six Months Ended June 30,2025 vs. 2024(in millions)20252024$ Change% ChangeRevenue$1,505 $1,749 $(244)(14)%Operating Costs and ExpensesCost of services (excluding depreciation and amortization)1,235 1,412 (177)(13)%Selling, general and administrative (excluding depreciation and amortization)220 231 (11)(5)%Research and development (excluding depreciation and amortization)2 3 (1)(33)%Depreciation and amortization96 113 (17)(15)%Restructuring and related costs12 17 (5)(29)%Interest expense24 46 (22)(48)%(Gain) loss on divestitures and transaction costs, net7 (508)515 n/mLitigation settlements (recoveries), net2 5 (3)(60)%Loss on extinguishment of debt— 5 (5)n/mOther (income) expenses, net1 (2)3 n/mTotal Operating Costs and Expenses1,599 1,322 277 Income (Loss) Before Income Taxes(94)427 (521)Income tax expense (benefit)(3)112 (115)Net Income (Loss)$(91)$315 $(406)

Revenue

Revenue for the three months ended June 30, 2025 decreased, compared to the prior year period, approximately 73% of which was due to the impact of the BenefitWallet Transfer and the sales of the Curbside Management and Public Safety Solutions and Casualty Claims Solutions businesses. Excluding the divestitures impact