Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 12

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 12
---
 in our performance trends. We present certain key metrics, including Signings and Net ARR Activity below. 

Signings

Signings are defined as estimated future revenues from contracts signed during the period, including renewals of existing contracts. Total Contract Value ("TCV") is the estimated total contractual revenue related to signed contracts. TCV signings is defined as estimated future revenues from contracts signed during the period, including renewals of existing contracts. Due to the inconsistency of when existing contracts end, quarterly and yearly comparisons are not a good measure of renewal performance. New business Annual Contract Value ("ACV") is calculated as TCV divided by the contract term, in months, multiplied by 12 for an annual measure. 

CNDT Q3 2025 Form 10-Q31

Signing information for the three and nine months ended September 30, 2025 and 2024 is as follows:

Three Months Ended September 30,2025 vs. 2024($ in millions)20252024(3)$ Change% ChangeNew business ACV$111 $111 $— — %New business TCV$246 $235 $11 5 %Renewals TCV213 659 (446)(68)%Total Signings$459 $894 $(435)(49)%Annual recurring revenue signings(1)$64 $63 $1 2 %Non-recurring revenue signings(2)$55 $50 $5 10 %Nine Months Ended September 30,2025 vs. 2024($ in millions)20252024(3)$ Change% ChangeNew business ACV$365 $348 $17 5 %New business TCV$850 $651 $199 31 %Renewals TCV925 1,296 (371)(29)%Total Signings$1,775 $1,947 $(172)(9)%Annual recurring revenue signings(1)$183 $155 $28 18 %Non-recurring revenue signings(2)$225 $230 $(5)(2)%

 ___________

(1)Recurring revenue signings are for new business contracts longer than one year.

(2)Non-recurring revenue signings are for contracts shorter than one year.

(3)Adjusted to remove new business signings of the BenefitWallet Portfolio, Curbside Management and Public Safety Solutions businesses and Casualty Claims Solutions business.

The total new business pipeline at the end of September