Company: CNDT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001677703-25-000076
Chunk: 28

Company: CONDUENT Inc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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Table of Contents 

PART I — FINANCIAL INFORMATION 

ITEM 1 — FINANCIAL STATEMENTS (UNAUDITED)

CONDUENT INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED)  Three Months Ended March 31,(in millions, except per share data)20252024Revenue$751 $921 Operating Costs and ExpensesCost of services (excluding depreciation and amortization)618 735 Selling, general and administrative (excluding depreciation and amortization)120 116 Research and development (excluding depreciation and amortization)1 2 Depreciation and amortization48 62 Restructuring and related costs4 9 Interest expense12 27 (Gain) loss on divestitures and transaction costs, net3 (161)Litigation settlements (recoveries), net2 4 Loss on extinguishment of debt— 2 Other (income) expenses, net(1)(2)Total Operating Costs and Expenses807 794 Income (Loss) Before Income Taxes(56)127 Income tax expense (benefit)(5)28 Net Income (Loss)$(51)$99 Net Income (Loss) per Share:Basic$(0.33)$0.46 Diluted$(0.33)$0.46 

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CNDT Q1 2025 Form 10-Q3

Table of Contents 

CONDUENT INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

 Three Months Ended March 31,(in millions)20252024Net Income (Loss)$(51)$99 Other Comprehensive Income (Loss), Net(1)Currency translation adjustments, net9 (11)Unrecognized gains (losses), net2 — Other Comprehensive Income (Loss), Net11 (11)Comprehensive Income (Loss), Net$(40)$88 

__________

(1)All amounts are net of tax. Tax effects were immaterial.

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

CNDT Q1 2025 Form 10-Q4

CONDUENT INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in millions, except share data in thousands)March 31,