Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 72

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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The Net ARR activity metric for the trailing twelve months for each of the prior five quarters was as follows:

(in millions)Net ARR Activity metricSeptember 30, 2025$25 June 30, 202563 March 31, 2025116 December 31, 202492 September 30, 202446 

CNDT Q3 2025 Form 10-Q32

Capital Resources and Liquidity

As of September 30, 2025 and December 31, 2024, total cash and cash equivalents were $248 million and $366 million, respectively. We also have a $357 million revolving line of credit for our various cash needs. As of September 30, 2025 we had $134 million outstanding borrowings under this revolving line of credit and an additional $25 million was used for letters of credit. The net amount available to be drawn upon under our revolving line of credit as of September 30, 2025, was $198 million. 

As of September 30, 2025, our total principal debt outstanding was $717 million, of which $16 million was due within one year. Refer to Note 7 – Debt in the Condensed Consolidated Financial Statements for additional debt information.

To provide financial flexibility and finance certain investments and projects, we may continue to utilize external financing arrangements. However, we believe that our cash on hand, projected cash flow from operations, sound balance sheet and our revolving line of credit will continue to provide sufficient financial resources to meet our expected business obligations for at least the next twelve months.

Cash Flow Analysis

The following table summarizes our cash flows, as reported in our Condensed Consolidated Statement of Cash Flows in the accompanying Condensed Consolidated Financial Statements:

 Nine Months Ended September 30,(in millions)20252024Better (Worse)Net cash provided by (used in) operating activities$(112)$(91)$(21)Net cash provided by (used in) investing activities$(6)$761 (767)Net cash provided by (used in) financing activities$— $(781)781 

Operating activities

The net increase in cash used in operating activities of $21 million, compared to the prior year period, was primarily due to lower Adjusted EBITDA due to the divestitures, unfavorable working capital trends and January 2025 Cyber Event related cash outflows. These unfavorable changes were partially offset by lower cash interest expense.

Investing activities

Investing