Concentrix Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Concentrix Corp has filed its annual 10-K report for the fiscal year ending November 30, 2023.</b>

AI Summary

Concentrix Corp (CNXC) filed a Annual Report (10-K) with the SEC on January 29, 2024. Concentrix Corp filed its 10-K for the fiscal year ending November 30, 2023. The filing covers the period from December 1, 2022, to November 30, 2023. The company's principal executive offices are located at 39899 Balentine Drive, Newark, CA 94560. The filing was made on January 29, 2024. Concentrix Corp is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Concentrix Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Concentrix Corp's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: — Concentrix Corp shows moderate risk based on this filing. The company's financial performance and future outlook are subject to various market and operational risks inherent in the business services industry, as detailed in the 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to understand Concentrix Corp's performance and potential challenges.

Key Numbers

• 2023-11-30 — Fiscal Year End (The end date of the reporting period)
• 2024-01-29 — Filing Date (The date the 10-K was filed with the SEC)

Key Players & Entities

• Concentrix Corp (company) — Filer of the 10-K report
• Newark, CA (location) — Location of company's principal executive offices
• 39899 Balentine Drive (location) — Street address of company's principal executive offices
• 2023-11-30 (date) — Fiscal year end date
• 2024-01-29 (date) — Filing date of the 10-K
• DE (location) — State of incorporation

FAQ

Industry Context

Concentrix Corp operates in the business services sector, providing a range of customer engagement and business process outsourcing solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business and financial condition.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the risk factors section to understand potential challenges and their impact on the company.
3. Examine management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2023-11-30: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-01-29: 10-K Filing Date — The date Concentrix Corp submitted its annual report.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K. Comparative data from previous filings would be needed for a full analysis.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share CNXC The Nasdaq Stock Market

Filing Documents

• cnxc-20231130.htm (10-K) — 2393KB
• exhibit41-2023form10k.htm (EX-4.1) — 33KB
• exhibit1020-2023form10k.htm (EX-10.20) — 54KB
• exhibit211-2023form10k.htm (EX-21.1) — 171KB
• exhibit231-2023form10k.htm (EX-23.1) — 2KB
• exhibit311-2023form10k.htm (EX-31.1) — 10KB
• exhibit312-2023form10k.htm (EX-31.2) — 10KB
• exhibit321-2023form10k.htm (EX-32.1) — 6KB
• exhibit971-2023form10k.htm (EX-97.1) — 19KB
• cnxc-20231130_g1.jpg (GRAPHIC) — 7KB
• cnxc-20231130_g2.jpg (GRAPHIC) — 57KB
• 0001803599-24-000011.txt (&nbsp;) — 13854KB
• cnxc-20231130.xsd (EX-101.SCH) — 72KB
• cnxc-20231130_cal.xml (EX-101.CAL) — 118KB
• cnxc-20231130_def.xml (EX-101.DEF) — 449KB
• cnxc-20231130_lab.xml (EX-101.LAB) — 1077KB
• cnxc-20231130_pre.xml (EX-101.PRE) — 802KB
• cnxc-20231130_htm.xml (XML) — 2196KB

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 27

Properties

Item 2. Properties 27

Legal Proceedings

Item 3. Legal Proceedings 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

[Reserved]

Item 6. [Reserved] 32

Management's Discussion and Analysis of Financial Condition and Result of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Result of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 50

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 51

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 104

Controls and Procedures

Item 9A. Controls and Procedures 104

Other Information

Item 9B. Other Information 104

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 105 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 106

Executive Compensation

Item 11. Executive Compensation 106

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 106

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 106

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 106 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 107

Form 10-K Summary

Item 16. Form 10-K Summary 111 Table of Contents Note Regarding Forward-Looking Statements Unless otherwise indicated or except where the context otherwise requires, the terms "Concentrix," " we, " " us " and " our " and other similar terms in this Annual Report on Form 10-K refer to Concentrix Corporation and its subsidiaries. This Annual Report on Form 10-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act " ), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act " ). Forward-looking statements include, but are not limited to, statements regarding our expected future financial condition, results of operations, effective tax rate, cash flows, leverage, liquidity, business strategy, competitive position, demand for our services and seasonality of our business, international operations, acquisition opportunities and the anticipated impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, competition and market forecasts, industry trends, our human capital resources and sustainability initiatives, and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to our combination with Webhelp, including the ability to retain key employees and successfully integrate the Webhelp business; our ability to realize estimated cost savings, synergies or other anticipated benefits of our combination with Webhelp, or that such benefits may take longer to realize than expected; diversion of management's attention; the potential impact of the consummatio

BUSINESS

ITEM 1. BUSINESS We are a leading global provider of Customer Experience ("CX") solutions and technology that help iconic and disruptive brands drive deep understanding, full lifecycle engagement, and differentiated experiences for their end- 1 Table of Contents customers around the world. We provide end-to-end capabilities, including CX process optimization, technology innovation, front- and back-office automation, analytics and business transformation services to clients in five primary industry verticals. Our differentiated portfolio of solutions supports Fortune Global 500 as well as high-growth companies across the globe in their efforts to deliver an optimized, consistent brand experience across all channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications. We strive to deliver exceptional services globally supported by our deep industry knowledge, technology and security practices, talented people, and digital and analytics expertise. We offer our clients integrated solutions supporting the entirety of the customer lifecycle; CX and user experience ("UX") strategy and design; analytics and actionable insights; and innovative new approaches to enhancing the customer experience through the latest technological advancements in our industry. We are a leader in the shift from traditional Customer Relationship Management ("CRM"), which is focused on a portion of the customer lifecycle, to CX, which supports the entirety of it. Through our end-to-end capabilities, we deliver better economic outcomes for our clients with solutions designed to meet their unique needs as they navigate a landscape characterized by discerning consumers and new market entrants. We have strong relationships with companies across the globe and are a partner of choice for industry leaders. We believe in supporting our clients over the long term to build enduring relationships. Our average client tenure for our top 30 clients

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View this 10-K filing on SEC EDGAR