Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 3

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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 of the first quarter of 2026 related to these notification requirements. Any notification expense in excess of these amounts up to the coverage limit are anticipated to be covered by the cyber insurance policy that the Company maintains.

It is possible that future risks and uncertainties resulting from the January 2025 Cyber Event, including those related to impacted data, litigation, reputational harm, and regulatory actions, could adversely affect the Company’s financial condition or results of operations. See also Part II, Item 1A (Risk Factors).

Financial Information and Analysis of Results of Operations

Three Months Ended September 30,2025 vs. 2024(in millions)20252024$ Change% ChangeRevenue$767 $807 $(40)(5)%Operating Costs and ExpensesCost of services (excluding depreciation and amortization)631 656 (25)(4)%Selling, general and administrative (excluding depreciation and amortization)96 115 (19)(17)%Research and development (excluding depreciation and amortization)1 1 — — %Depreciation and amortization48 44 4 9 %Restructuring and related costs12 4 8 200 %Interest expense12 16 (4)(25)%(Gain) loss on divestitures and transaction costs, net1 (188)189 n/mLitigation settlements (recoveries), net— 1 (1)n/mLoss on extinguishment of debt1 1 — — %Other (income) expenses, net3 (2)5 n/mTotal Operating Costs and Expenses805 648 157 Income (Loss) Before Income Taxes(38)159 (197)Income tax expense (benefit)8 36 (28)Net Income (Loss)$(46)$123 $(169)

CNDT Q3 2025 Form 10-Q25

Nine Months Ended September 30,2025 vs. 2024(in millions)20252024$ Change% ChangeRevenue$2,272 $2,556 $(284)(11)%Operating Costs and ExpensesCost of services (excluding depreciation and amortization)1,866 2,068 (202)(10)%Selling, general and administrative (excluding depreciation and amortization)316 346 (30)(9)%Research and development (excluding depreciation and amortization)3 4 (1)(25)%Depreciation and amortization144 157 (13)(8)%