Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 104

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 the first half of 2024.

2 Revenue growth on a constant currency basis is a non-GAAP measure and is calculated by restating current-period activity using the prior fiscal period’s foreign currency exchange rates adjusted for hedging gains/losses in such period.

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Net revenues from Core Business Services in the first half of 2025 were $1,899.1 million, up $80.9 million, or 4.5%, from $1,818.1 million in the first half of 2024, primarily due to an increase in revenue from Digital Operations and technology services in the first half of 2025 compared to the first half of 2024.

Net revenues by reportable segment were as follows:

 Six months ended June 30,Percentage Change Increase/(Decrease)202420252025 vs. 2024(dollars in millions)Financial Services$625.6 $665.8 6.4 %Consumer and Healthcare827.4 849.0 2.6 %High Tech and Manufacturing854.5 954.5 11.7 %Net revenues$2,307.4 $2,469.3 7.0 %

Net revenues from our Financial Services and Consumer and Healthcare segments increased by 6.4% and 2.6%, respectively, in the first half of 2025 compared to the first half of 2024, largely due to an increase in revenue from Advanced Technology Solutions as well as ramp-ups of services from recently signed deals. Net revenues from our High Tech and Manufacturing segment increased by 11.7% in the first half of 2025 compared to the first half of 2024, primarily driven by ramp-ups of services from recently signed deals.

Cost of revenue. Cost of revenue was $1,590.3 million in the first half of 2025, up $95.7 million, or 6.4%, from $1,494.6 million in the first half of 2024. The increase in cost of revenue in the first half of 2025 compared to the first half of 2024 was primarily due to (i) an increase in our operational headcount to support revenue growth as well as wage inflation, (ii) higher stock-based compensation expense, (iii) increased spending on professional services, and (iv) an increase in costs for resold partnership technologies in the first half of 2025 compared to the first half of