Company: UIS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000746838-25-000030
Chunk: 21

Company: UNISYS CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 21
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 million and $1.3 billion, respectively, an increase of 15% and 8%, respectively, compared to the prior-year periods. The increase in both periods was primarily driven by the timing of renewals.

Backlog was $2.83 billion as of September 30, 2025 compared to $2.80 billion as of September 30, 2024. 

The company believes that actual revenue reflects the most relevant measure necessary to understand the company’s results of operations, but TCV can be a useful leading indicator of the company’s ability to generate future revenue over time and backlog can be a useful metric and indicator of the company’s estimate of contracted revenue to be realized in the future, in each case subject to certain inherent limitations as explained above. TCV and backlog should not be relied upon as substitutes for, or considered in isolation from, measures in accordance with generally accepted accounting principles in the United States of America.

Financial condition

The company’s principal sources of liquidity are cash on hand, cash from operations and its revolving credit facility, discussed below. The company and certain international subsidiaries have access to uncommitted lines of credit from various banks. The company believes that it will have adequate sources of liquidity to meet its expected cash requirements for at least the next twelve months.

Cash and cash equivalents at September 30, 2025 were $321.9 million compared to $376.5 million at December 31, 2024. 

As of September 30, 2025, $221.7 million of cash and cash equivalents were held by the company’s foreign subsidiaries and branches operating outside of the U.S. The company may not be able to readily transfer approximately one-quarter of these funds out of the country in which they are located as a result of local restrictions, contractual or other legal arrangements or commercial considerations. At September 30, 2025, the deferred tax liability on undistributed earnings was $30.6 million. Transfers of international cash and cash equivalents to the U.S. will require the company to pay withholding or other taxes on a portion of the amount transferred. At September 30, 2025, the company maintained cash balances in various operating accounts 

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in excess of federally insured limits. The company monitors this risk by evaluating the creditworthiness of the financial institutions.

During the nine months ended September 30, 2025, cash used for operations was $244.9 million compared to cash provided by operations of $58.5 million during the nine months ended September