CNXC 10-Q report for 2025-05-31

Concentrix Corporation (CNXC) Form 10‑Q for quarter ended May 31, 2025 — includes consolidated financial statements, MD&A index, and required SEC disclosures.

CNXC 10-Q report for 2025-05-31 cnxc-20250531 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-39494 CONCENTRIX CORPORATION (Exact name of Registrant as specified in its charter) Delaware 27-1605762 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 39899 Balentine Drive , Suite 235 , Newark , California 94560 (Address of Principal Executive Offices) (Zip Code) ( 800 ) 747-0583 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share CNXC The Nasdaq Stock Market LLC Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes   ☒    No  ☐  Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).      Yes   ☒   No  ☐  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer   ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes    ☐      No  ☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the last practicable date. Class Outstanding as of June 30, 2025 Common Stock, par value $0.0001 per share 63,025,120 CONCENTRIX CORPORATION Form 10-Q Index Page PART I FINANCIAL INFORMATION 2 Item 1. Financial Statements 2 Consolidated Balance Sheets as of May 31 , 2025 (unaudited) and November 30, 2024 2 Consolidated Statements of Operations (unaudited) for the Three and Six Months Ended May 31, 2025 and 2024 3 Consolidated Statements of Comprehensive Income (unaudited) for the Three and Six Months Ended May 31, 2025 and 2024 4 Consolidated Statements of Stockholders’ Equity (unaudited) for the Three and Six Months Ended May 31, 2025 and 2024 5 Consolidated Statements of Cash Flows (unaudited) for the Three and Six Months Ended May 31, 2025 and 2024 7 Notes to the Consolidated Financial Statements (unaudited) 8 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3. Quantitative and Qualitative Disclosures About Market Risk 44 Item 4. Controls and Procedures 45 PART II OTHER INFORMATION 46 Item 1. Legal Proceedings 46 Item 1A. Risk Factors 46 Item 2. Unregistered S ales of E quity S ecurities and U se of P roceeds 46 Item 5. Other Information 46 Item 6. Exhibits 47 Signatures 49 1 PART I—FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CONCENTRIX CORPORATION CONSOLIDATED BALANCE SHEETS (currency and share amounts in thousands, except par value) May 31, 2025 November 30, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 342,759 $ 240,571 Accounts receivable, net 2,061,412 1,926,737 Other current assets 766,498 675,116 Total current assets 3,170,669 2,842,424 Property and equipment, net 711,463 714,517 Goodwill 5,131,900 4,986,967 Intangible assets, net 2,156,035 2,286,940 Deferred tax assets 247,536 218,396 Other assets 978,457 942,194 Total assets $ 12,396,060 $ 11,991,438 LIABILITIES AND STOCKHOLDERS’ EQUITY      Current liabilities: Accounts payable $ 209,472 $ 209,812 Current portion of long-term debt 28,331 2,522 Accrued compensation and benefits 655,511 706,619 Other accrued liabilities 997,974 977,314 Income taxes payable 82,077 99,546 Total current liabilities 1,973,365 1,995,813 Long-term debt, net 4,862,425 4,733,056 Other long-term liabilities 970,587 910,271 Deferred tax liabilities 310,983 312,574 Total liabilities 8,117,360 7,951,714 Commitments and contingencies (Note 13) Stockholders’ equity: Preferred stock, $ 0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of May 31, 2025 and November 30, 2024, respectively — — Common stock, $ 0.0001 par value, 250,000 shares authorized; 69,054 and 68,849 shares issued as of May 31, 2025 and November 30, 2024, respectively, and 62,930 and 64,238 shares outstanding as of May 31, 2025 and November 30, 2024, respectively 7 7 Additional paid-in capital 3,738,360 3,683,608 Treasury stock, 6,124 and 4,611 shares as of May 31, 2025 and November 30, 2024, respectively ( 496,194 ) ( 421,449 ) Retained earnings 1,259,559 1,191,871 Accumulated other comprehensive loss ( 223,032 ) ( 414,313 ) Total stockholders’ equity 4,278,700 4,039,724 Total liabilities and stockholders’ equity $ 12,396,060 $ 11,991,438 The accompanying notes are an integral part of these consolidated financial statements. 2 CONCENTRIX CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (currency and share amounts in thousands, except per share amounts) (unaudited) Three Months Ended Six Months Ended May 31, 2025 May 31, 2024 May 31, 2025 May 31, 2024 Revenue $ 2,417,371 $ 2,380,716 $ 4,789,593 $ 4,783,464 Cost of revenue 1,569,223 1,523,147 3,085,546 3,069,366 Gross profit 848,148 857,569 1,704,047 1,714,098 Selling, general and administrative expenses 699,803 707,399 1,386,835 1,415,489 Operating income 148,345 150,170 317,212 298,609 Interest expense and finance charges, net 75,406 82,457 148,400 164,896 Other expense (income), net 21,218 ( 19,415 ) 16,299 ( 26,239 ) Income before income taxes 51,721 87,128 152,513 159,952 Provision for income taxes 9,628 20,294 40,163 41,016 Net income $ 42,093 $ 66,834 $ 112,350 $ 118,936 Earnings per common share: Basic $ 0.63 $ 0.98 $ 1.68 $ 1.75 Diluted $ 0.63 $ 0.98 $ 1.68 $ 1.74 Weighted-average common shares outstanding: Basic 63,355 65,270 63,693 65,466 Diluted 63,406 65,332 63,733 65,570 The accompanying notes are an integral part of these consolidated financial statements. 3 CONCENTRIX CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (currency in thousands) (unaudited) Three Months Ended Six Months Ended May 31, 2025 May 31, 2024 May 31, 2025 May 31, 2024 Net income $ 42,093 $ 66,834 $ 112,350 $ 118,936 Other comprehensive income (loss): Unrealized gains (losses) of defined benefit plans, net of taxes of $ 0 and $( 19 ) for the three and six months ended May 31, 2025, respectively, and $ 0 and $( 135 ) for the three and six months ended May 31, 2024, respectively ( 35 ) ( 30 ) 1,117 1,274 Unrealized gains (losses) on hedges during the period, net of taxes of $( 9,933 ) and $( 9,114 ) for the three and six months ended May 31, 2025, respectively, and $ 7,101 and $ 8,429 for the three and six months ended, respectively 26,162 ( 20,927 ) 27,449 ( 24,947 ) Reclassification of net losses (gains) on hedges to net income, net of taxes of $ 141 and $( 1,421 ) for the three and six months ended May 31, 2025, respectively, and $( 168 ) and $( 18 ) for the three and six months ended May 31, 2024, respectively ( 414 ) 495 4,172 68 Total change in unrealized gains (losses) on hedges, net of taxes 25,748 ( 20,432 ) 31,621 ( 24,879 ) Foreign currency translation adjustments for the three and six months ended May 31, 2025 and May 31, 2024, respectively 219,457 ( 25,351 ) 158,543 ( 94,763 ) Other comprehensive income (loss) 245,170 ( 45,813 ) 191,281 ( 118,368 ) Comprehensive income $ 287,263 $ 21,021 $ 303,631 $ 568 The accompanying notes are an integral part of these consolidated financial statements. 4 CONCENTRIX CORPORATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (currency and share amounts in thousands) (unaudited) Three and Six Months Ended May 31, 2025 Common stock Treasury stock Shares Amount Additional paid-in capital Shares Amount Retained earnings Accumulated other comprehensive income (loss) Total stockholders’ equity Balances, February 28, 2025 69,007 $ 7 $ 3,711,701 5,193 $ ( 449,374 ) $ 1,239,638 $ ( 468,202 ) $ 4,033,770 Other comprehensive income —  —  —  —  —  —  245,170 245,170 Share-based compensation activity 47 —  26,659 —  —  —  —  26,659 Repurchase of common stock for tax withholdings on equity awards —  —  —  7 ( 1,492 ) —  —  ( 1,492 ) Repurchase of common stock —  —  —  924 ( 45,328 ) —  —  ( 45,328 ) Dividends —  —  —  —  —  ( 22,172 ) —  ( 22,172 ) Net income —  —  —  —  —  42,093 —  42,093 Balances, May 31, 2025 69,054 $ 7 $ 3,738,360 6,124 $ ( 496,194 ) $ 1,259,559 $ ( 223,032 ) $ 4,278,700 The accompanying notes are an integral part of these consolidated financial statements.

This excerpt is only the cover page/header of Sleep Number’s Form 10-Q for the quarter ended April 4, 2026. It contains filing metadata (issuer, ticker, exchange, address) but no financial statements, MD&A, guidance, risks, or operational commentary. As a result, it is not directly actionable for trading beyond confirming the filing exists.

The provided excerpt is only the cover/filing header of SoundHound AI, Inc.’s 10‑Q for the quarter ended 2026‑03‑31. It contains listing/security identifiers (SOUN, SOUNW) but no financial statements, MD&A, guidance, risk updates, liquidity details, or material events. As a result, there is insufficient information to form high-confidence, actionable bullish/bearish theses beyond generic “company filed its 10‑Q” metadata.

The provided excerpt is only the boilerplate cover/filing-status section of Teucrium Commodity Trust’s Form 10‑Q for period ended 2026‑03‑31, with no portfolio holdings, performance, risk, or material updates included. As-is, it contains no actionable investment information beyond confirming the existence of the filing and the issuer/ticker identity (WEAT).

The provided excerpt is only the cover page of Archer Aviation’s Form 10‑Q for the quarter ended 2026‑03‑31 (issuer identity, exchange listing, and securities outstanding). It contains no operating/financial results, guidance, liquidity details, backlog, or risk-factor updates—so it is minimally actionable for trading beyond basic security identifiers and a generic dilution/optionality consideration from warrants.

This excerpt is essentially the cover page of CleanSpark, Inc.’s Form 10-Q for the quarter ended March 31, 2026. It contains identifiers (CIK/file no.), listing venue, and security descriptions (common stock and redeemable warrants with specific exercise terms), but no operating/financial results, guidance, risks, or MD&A detail. Actionability is therefore limited to capital-structure/dilution considerations around the listed warrant.

This excerpt of AST SpaceMobile’s 10‑Q is largely SEC cover-page/boilerplate (registrant info, exchange listing, filing compliance) and contains no financial results, guidance, liquidity, risk-factor updates, or operating metrics. As provided, it does not create a clear tradable catalyst beyond confirming continued reporting/listing status.

This excerpt only includes the cover page of Super Micro Computer, Inc.’s Form 10‑Q for the quarter ended March 31, 2026. It confirms the filing, issuer identity, listing (Nasdaq), and ticker (SMCI), but contains no financial results, guidance, risks, or MD&A content to support a directional investment view.

The provided text is only the cover/header portion of AbCellera Biologics Inc.’s Form 10‑Q for the quarter ended March 31, 2026 (identifying info, exchange listing, filing status). It contains no financial statements, guidance, risk updates, material events, MD&A, cash runway, pipeline/program updates, or disclosures that would support a differentiated trading view.