Concentrix Corp Files 2024 Annual Report

Ticker: CNXC · Form: 10-K · Filed: Jan 28, 2025 · CIK: 1803599

Sentiment: neutral

Topics: 10-K, annual-report, business-services

TL;DR

CNXC filed its 2024 10-K. All systems go for business services.

AI Summary

Concentrix Corp filed its 10-K for the fiscal year ending November 30, 2024, reporting its financial performance and business operations. The company, incorporated in Delaware and headquartered in Newark, CA, operates in the business services sector. This filing provides a comprehensive overview of its financial health, strategic initiatives, and risk factors for investors.

Why It Matters

This 10-K filing provides crucial insights into Concentrix Corp's financial standing and strategic direction for the past fiscal year, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the inherent risks of the business services sector and the company's specific operations contribute to a medium risk profile.

Key Numbers

Key Players & Entities

FAQ

What is Concentrix Corp's primary business sector?

Concentrix Corp operates in the SERVICES-BUSINESS SERVICES, NEC sector, with SIC code 7389.

Where is Concentrix Corp headquartered?

Concentrix Corp is headquartered at 39899 Balentine Drive, Newark, CA 94560.

What is the fiscal year end for Concentrix Corp?

The fiscal year end for Concentrix Corp is November 30 (1130).

When was this 10-K filing submitted?

This 10-K filing was submitted on January 28, 2025.

What is the SEC file number for Concentrix Corp?

The SEC file number for Concentrix Corp is 001-39494.

Filing Stats: 4,298 words · 17 min read · ~14 pages · Grade level 17.2 · Accepted 2025-01-28 08:00:56

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 26

C ybersecurity

Item 1C. C ybersecurity 26

Properties

Item 2. Properties 28

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] 31

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 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 49

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 50

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 102

Controls and Procedures

Item 9A. Controls and Procedures 102

Other Information

Item 9B. Other Information 102

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 102 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 103

Executive Compensation

Item 11. Executive Compensation 103

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 103

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 103

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 104 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 104

Form 10-K Summary

Item 16. Form 10-K Summary 108 Table of Contents Note Regarding Forward-Looking Statements Unless otherwise indicated or except where the context otherwise requires, the terms "Concentrix," "the Company," " 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 and growth, cash flows, results of operations, effective tax rate, leverage, liquidity, business strategy, competitive position, demand and market acceptance for our services and products portfolio, seasonality of our business, international operations, the potential benefits associated with use of the Company's technology and services, acquisition opportunities and the anticipated impact of acquisitions, capital allocation and dividends, growth opportunities, spending, capital expenditures and investments, debt repayment, 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, 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 general economic conditions, including consumer demand, interest rates, inflation, supply chains, and the effects of the conflicts in Ukraine and Gaza; cyberattacks on our or our clients ' networks and information tech

BUSINESS

ITEM 1. BUSINESS Our Company We are a global technology and services leader that powers exceptional brand experiences and digital operations for more than 2,000 clients across the globe. We design, build, and run fully integrated, end-to-end solutions — including customer experience ("CX") process optimization, technology innovation and design engineering, front- and back-office automation, analytics, and business transformation services — for clients in five primary industry verticals. Our solutions help our clients drive deep understanding, full lifecycle engagement, and differentiated customer experiences for their brands. We strive to deliver exceptional services globally , supported by our deep industry knowledge, technology and security practices, talented people, and digital and analytics expertise. Our differentiated portfolio of solutions supports Fortune Global 500 and new economy companies across the globe in their efforts to deliver an optimized, consistent brand experience across all channels of communication, including voice, chat, email, generative AI ("GenAI")-powered self-service, social media, asynchronous messaging, and other custom applications. We offer our clients integrated solutions to support the entirety of their customer lifecycles, transform their businesses, and solve business challenges: CX and user experience ("UX") strategy and design; digital operations, including B2B sales, performance marketing, customer loyalty, trust and safety, collections, and financial compliance; data analytics, enterprise intelligence, and actionable insights; and innovative new approaches to enhancing the customer experience through the latest technological advancements in our industry. Through our end-to-end capabilities, we believe 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 relatio

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