Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 109

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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 compared to the nine months ended September 30, 2024.

Net revenues from Core Business Services in the nine months ended September 30, 2025 were $2,879.3 million, up $109.4 million, or 4.0%, from $2,769.9 million in the nine months ended September 30, 2024, primarily due to an increase in revenue from Digital Operations and technology services in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

Net revenues by reportable segment were as follows:

 Nine months ended September 30,Percentage Change Increase/(Decrease)202420252025 vs. 2024(dollars in millions)Financial Services$957.2 $1,008.6 5.4 %Consumer and Healthcare1,253.4 1,278.9 2.0 %High Tech and Manufacturing1,307.8 1,473.1 12.6 %Net revenues$3,518.4 $3,760.6 6.9 %

Net revenues from our Financial Services and Consumer and Healthcare segments increased by 5.4% and 2.0%, respectively, in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, largely due to an increase in revenue from Advanced Technology Solutions and technology services. Net revenues from our High Tech and Manufacturing segment increased by 12.6% in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily driven by ramp-ups of services from recently signed deals and an increase in demand for our Advanced Technology Solutions and technology services.

Cost of revenue. Cost of revenue was $2,411.9 million in the nine months ended September 30, 2025, up $137.8 million, or 6.1%, from $2,274.1 million in the nine months ended September 30, 2024. This increase was primarily due to (i) an increase in our operational headcount to support revenue growth, (ii) wage inflation, (iii) higher stock-based compensation expense, (iv) increased spending on professional services, and (v) an increase in costs for resold partnership technologies in the nine months ended September 30, 2025 compared to the nine months ended September