Company: UIS
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000746838-25-000020
Chunk: 12

Company: UNISYS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 12
---
. The timing of conversion of backlog to revenue may be impacted by, among other factors, the timing of execution, the extension or early termination of existing contracts with or without penalty, adjustments to estimates in pricing or volumes for previously included contracts, seasonality and foreign currency exchange rates. 

30

The following table summarizes the company’s TCV metrics.

Three Months Ended June 30,Six Months EndedJune 30,(In millions, except numbers presented as percentages)20252024% Change20252024% ChangeEx-L&S New Business (i)$122 $215 (43)%$459 $399 15 %Ex-L&S Renewals266 144 85 %342 225 52 %L&S Renewals49 103 (52)%70 208 (66)%Total TCV$437 $462 (5)%$871 $832 5 %

(i) New Business relates to expansion and new scope for existing clients and new logo contracts.

Total TCV was $437 million for the three months ended June 30, 2025 and $462 million for the three months ended June 30, 2024, a decrease of 5% primarily driven by a shift in timing in Ex-L&S New Business, partially offset by Ex-L&S renewals.

Total TCV was $871 million for the six months ended June 30, 2025 and $832 million for the six months ended June 30, 2024, an increase of 5% primarily driven by an increase in Ex-L&S New Business and Ex L&S renewals.

Backlog was $2.92 billion as of June 30, 2025 compared to $2.79 billion as of June 30, 2024, an increase of 5%. 

The company believes that actual revenue reflects the most relevant measure necessary to understand the company’s results of operations, but TCV can be a useful leading indicator of the company’s ability to generate future revenue over time and backlog can be a useful metric and indicator of the company’s estimate of contracted revenue to be realized in the future, in each case subject to certain inherent limitations as explained above. TCV and backlog should not be relied upon as substitutes for, or considered in isolation from, measures in accordance with generally accepted accounting principles in the United States of America.

Financial condition

The company’s principal sources of liquidity are cash on hand, cash from operations and its revolving credit facility, discussed below. The company and certain