Company: UIS
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021581
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Company: UNISYS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This management’s discussion and analysis of financial condition and results of operations should be read in conjunction with the consolidated financial statements and the related notes included elsewhere in this quarterly report.

Overview 

For the three months ended March 31, 2025, the company reported net loss attributable to Unisys Corporation of $29.5 million, or $0.42 per diluted share, compared with a loss of $149.5 million, or $2.18 per diluted share, for the three months ended March 31, 2024. The net loss for the three months ended March 31, 2024 included $132.3 million of a U.S. pension plan settlement loss.

Results of operations

Company results

Three months ended March 31, 2025 compared with the three months ended March 31, 2024

Revenue for the three months ended March 31, 2025 was $432.1 million compared with $487.8 million for the three months ended March 31, 2024, a decrease of 11.4% from the prior-year period. The decrease was primarily due to the timing of software license renewals and lower volume with clients. Foreign currency fluctuations had a 3 percentage-point negative impact on revenue in the current period compared with the prior-year period. 

License and Support (L&S) represents software license and related support services, primarily ClearPath Forward®, within the company's Enterprise Computing Solutions (ECS) segment. For the three months ended March 31, 2025, L&S revenue was $71.1 million compared to $93.2 million for the three months ended March 31, 2024, a decrease of 23.7%. The decrease was primarily driven by the timing of software license renewals.

Excluding License and Support (Ex-L&S) measures exclude revenue, gross profit and gross profit margin in connection with software license and related support services within the ECS segment. Ex-L&S revenue for the three months ended March 31, 2025 was $361.0 million compared with $394.6 million for the three months ended March 31, 2024, a decrease of 8.5%. The decrease was primarily driven by lower volume with clients.

Revenue from international operations for the three months ended March 31, 2025 was $246.2 million compared with $275.5 million for the three months ended March