Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 7

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 from $259.2 million in the third quarter of 2024. This increase was largely driven by increased demand for our data and AI solutions and services in the third quarter of 2025 compared to the third quarter of 2024.

Net revenues from Core Business Services in the third quarter of 2025 were $980.3 million, up $28.5 million, or 3.0%, from $951.8 million in the third quarter of 2024, primarily due to an increase in revenue from Digital Operations and technology services in the third quarter of 2025 compared to the third quarter of 2024.

1 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 by reportable segment were as follows:

 Three months ended September 30,Percentage Change Increase/(Decrease)202420252025 vs. 2024(dollars in millions)Financial Services$331.6 $342.8 3.4 %Consumer and Healthcare426.1 429.8 0.9 %High Tech and Manufacturing453.3 518.7 14.4 %Net revenues$1,210.9 $1,291.3 6.6 %

Net revenues from our Financial Services and Consumer and Healthcare segments increased by 3.4% and 0.9%, respectively, in the third quarter of 2025 compared to the third quarter of 2024, largely due to an increase in demand for our Advanced Technology Solutions. Net revenues from our High Tech and Manufacturing segment increased by 14.4% in the third quarter of 2025 compared to the third quarter of 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 $821.6 million in the third quarter of 2025, up $42.1 million, or 5.4%, from $779.5 million in the third quarter of 2024. This increase was primarily due to an increase in our operational headcount to support revenue growth, wage inflation and an increase in costs for resold partnership technologies, partially offset by reduced spending on professional services in the third quarter of 2025 compared to the third quarter of 2024