Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 126

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 period, primarily due to a $9 million recovery of legal costs from one of our insurance carriers related to the previously disclosed State of Texas matter that settled in February 2019, as well as cost efficiencies in our corporate functions. These factors were partially offset by $25 million of direct response costs related to the January 2025 Cyber Event.

Metrics

Metrics

We use metrics to evaluate our business, determine the allocation of our resources, make decisions regarding corporate strategies and evaluate forward-looking projections and trends affecting our business. We disclose these metrics to provide transparency 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