Concentrix Corp. Files Q2 2024 10-Q
Ticker: CNXC · Form: 10-Q · Filed: Jul 5, 2024 · CIK: 1803599
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
Related Tickers: CNXC
TL;DR
CNXC 10-Q filed for Q2 2024 ending May 31. Check financials.
AI Summary
Concentrix Corp. filed its 10-Q for the period ending May 31, 2024. The filing covers the second quarter of fiscal year 2024. Key financial data and operational details for this period are presented. The company is based in Newark, California.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational updates for Concentrix Corp., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Players & Entities
- Concentrix Corp. (company) — Filer of the 10-Q
- Newark, CA (location) — Company's business address
- May 31, 2024 (date) — End of the reporting period
- 20240531 (date) — Conformed period of report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is May 31, 2024.
What is the company's fiscal year end?
The company's fiscal year ends on November 30.
Where is Concentrix Corp. headquartered?
Concentrix Corp. is located at 39899 Balentine Drive, Newark, CA 94560.
What is the SEC file number for Concentrix Corp.?
The SEC file number for Concentrix Corp. is 001-39494.
What is the SIC code for Concentrix Corp.?
The Standard Industrial Classification (SIC) code for Concentrix Corp. is 7389, which falls under SERVICES-BUSINESS SERVICES, NEC.
Filing Stats: 4,623 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-07-05 08:02:51
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share CNXC The Nasdaq Stock Market
- $1,984,000 — nary purchase price allocation includes $1,984,000 of acquired identifiable intangible ass
Filing Documents
- cnxc-20240531.htm (10-Q) — 1510KB
- exhibit311-form10qxq22024.htm (EX-31.1) — 10KB
- exhibit312-form10qxq22024.htm (EX-31.2) — 10KB
- exhibit321-form10qxq22024.htm (EX-32.1) — 6KB
- cnxc-20240531_g1.jpg (GRAPHIC) — 57KB
- 0001803599-24-000130.txt ( ) — 8297KB
- cnxc-20240531.xsd (EX-101.SCH) — 47KB
- cnxc-20240531_cal.xml (EX-101.CAL) — 78KB
- cnxc-20240531_def.xml (EX-101.DEF) — 251KB
- cnxc-20240531_lab.xml (EX-101.LAB) — 648KB
- cnxc-20240531_pre.xml (EX-101.PRE) — 484KB
- cnxc-20240531_htm.xml (XML) — 1288KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION 2
Financial Statements
Item 1. Financial Statements 2 Consolidated Balance Sheets as of May 31, 2024 (unaudited) and November 30, 2023 2 Consolidated Statements of Operations (unaudited) for the Three and Six Months Ended May 31, 2024 and 2023 3 Consolidated Statements of Comprehensive Income (unaudited) for the Three and Six Months Ended May 31, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity (unaudited) for the Three and Six Months Ended May 31, 2024 and 2023 5 Consolidated Statements of Cash Flows (unaudited) for the Three and Six Months Ended May 31, 2024 and 2023 7 Notes to the Consolidated Financial Statements (unaudited) 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 31
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 45
Controls and Procedures
Item 4. Controls and Procedures 46
OTHER INFORMATION
PART II OTHER INFORMATION 48
Legal Proceedings
Item 1. Legal Proceedings 48
Risk Factors
Item 1A. Risk Factors 48 Item 2. Unregistered S ales of E quity S ecurities and U se of P roceeds 48 Item 5. Other Information 48
Exhibits
Item 6. Exhibits 49
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CONCENTRIX CORPORATION CONSOLIDATED BALANCE SHEETS (currency and share amounts in thousands, except par value) May 31, 2024 November 30, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 207,340 $ 295,336 Accounts receivable, net 1,871,560 1,888,890 Other current assets 637,284 674,423 Total current assets 2,716,184 2,858,649 Property and equipment, net 727,654 748,691 Goodwill 5,026,032 5,078,668 Intangible assets, net 2,564,317 2,804,965 Deferred tax assets 112,043 72,333 Other assets 932,581 928,521 Total assets $ 12,078,811 $ 12,491,827 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 201,525 $ 243,565 Current portion of long-term debt 1,590 2,313 Accrued compensation and benefits 589,154 731,172 Other accrued liabilities 935,537 1,016,406 Income taxes payable 38,517 80,583 Total current liabilities 1,766,323 2,074,039 Long-term debt, net 4,923,879 4,939,712 Other long-term liabilities 918,898 920,536 Deferred tax liabilities 386,288 414,246 Total liabilities 7,995,388 8,348,533 Commitments and contingencies (Note 14) Stockholders' equity: Preferred stock, $ 0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of May 31, 2024 and November 30, 2023, respectively — — Common stock, $ 0.0001 par value, 250,000 shares authorized; 68,007 and 67,883 shares issued as of May 31, 2024 and November 30, 2023, respectively, and 64,933 and 65,734 shares outstanding as of May 31, 2024 and November 30, 2023, respectively 7 7 Additional paid-in capital 3,627,559 3,582,521 Treasury stock, 3,074 and 2,149 shares as of May 31, 2024 and November 30, 2023, respectively ( 336,486 ) ( 271,968 ) Retained earnings 1,102,438 1,024,461 Accumulated other comprehensive loss ( 310,095 ) ( 191,727 ) Total stockholders' equity 4,083,423 4,143,294 Total liabilities and stockholders' equity $ 12,078,811 $ 12,491,827 The accompanying notes are an