Company: UIS
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000746838-25-000020
Chunk: 5

Company: UNISYS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 5
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 and lower volume with clients. Foreign currency fluctuations had a 1 percentage-point negative impact on revenue in the current period compared with the prior-year period.

For the six months ended June 30, 2025, L&S revenue was $158.7 million compared to $175.3 million for the six months ended June 30, 2024, a decrease of 9.5%. The decrease was primarily driven by the timing of software license renewals.

Ex-L&S revenue for the six months ended June 30, 2025 was $756.7 million compared with $790.7 million for the six months ended June 30, 2024, a decrease of 4.3%. The decrease was primarily driven by lower volume with clients.

Revenue from international operations for the six months ended June 30, 2025 was $534.0 million, compared with $549.3 million for the six months ended June 30, 2024, a decrease of 2.8% from the prior-year period. Foreign currency had a 3 percentage-point negative impact on international revenue in the six months ended June 30, 2025 compared with the six months ended June 30, 2024. Revenue from U.S. operations for the six months ended June 30, 2025 was $381.4 million, compared with $416.7 million for the three months ended June 30, 2024, a decrease of 8.5% from the prior-year period.

During the six months ended June 30, 2025, the company recognized net cost-reduction charges and other costs of $2.0 million. The net charges related to workforce reductions were $1.2 million and were comprised of: (i) a charge of $5.2 million for severance costs and (ii) a credit of $4.0 million for changes in estimates. The company recorded net charges of $0.8 million comprised of a charge of $3.2 million for an asset write-off, a charge of $0.3 million for other expenses related to cost-reduction efforts and a net credit of $2.7 million for net foreign currency gains related to exiting foreign countries.

During the six months ended June 30, 2024, the company recognized net cost-reduction charges and other costs of $6.9 million. The net charges related to workforce reductions were $5.9 million and were comprised of: (i) a charge of $