Concentrix Corp Files Q3 2024 10-Q

TL;DR

CNXC 10-Q filed for Q3 2024 ending Aug 31. Fiscal year ends Nov 30.

AI Summary

Concentrix Corp filed its 10-Q for the period ending August 31, 2024. The filing covers the third quarter of fiscal year 2024. Key financial data and operational details for this period are presented, with the company's fiscal year ending on November 30.

Why It Matters

This filing provides investors with a detailed look at Concentrix Corp's financial performance and position as of August 31, 2024, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 20240831 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20241004 — Filing Date (Shows when the report was officially submitted to the SEC.)
• 1130 — Fiscal Year End (Defines the end of Concentrix Corp's annual financial reporting cycle.)

Key Players & Entities

• Concentrix Corp (company) — Filer of the 10-Q
• 20240831 (date) — End of the reporting period
• 20241004 (date) — Filing date
• 1130 (date) — Fiscal year end

FAQ

Key Financial Figures

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

Filing Documents

• cnxc-20240831.htm (10-Q) — 1520KB
• exhibit311-form10qxq32024.htm (EX-31.1) — 10KB
• exhibit312-form10qxq32024.htm (EX-31.2) — 10KB
• exhibit321-form10qxq32024.htm (EX-32.1) — 6KB
• cnxc-20240831_g1.jpg (GRAPHIC) — 57KB
• 0001803599-24-000156.txt ( ) — 8210KB
• cnxc-20240831.xsd (EX-101.SCH) — 47KB
• cnxc-20240831_cal.xml (EX-101.CAL) — 79KB
• cnxc-20240831_def.xml (EX-101.DEF) — 255KB
• cnxc-20240831_lab.xml (EX-101.LAB) — 648KB
• cnxc-20240831_pre.xml (EX-101.PRE) — 471KB
• cnxc-20240831_htm.xml (XML) — 1294KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 2

Financial Statements

Item 1. Financial Statements 2 Consolidated Balance Sheets as of August 31, 2024 (unaudited) and November 30, 2023 2 Consolidated Statements of Operations (unaudited) for the Three and Nine Months Ended August 31, 2024 and 2023 3 Consolidated Statements of Comprehensive Income (unaudited) for the Three and Nine Months Ended August 31, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity (unaudited) for the Three and Nine Months Ended August 31, 2024 and 2023 5 Consolidated Statements of Cash Flows (unaudited) for the Three and Nine Months Ended August 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) August 31, 2024 November 30, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 246,241 $ 295,336 Accounts receivable, net 1,935,566 1,888,890 Other current assets 668,433 674,423 Total current assets 2,850,240 2,858,649 Property and equipment, net 732,663 748,691 Goodwill 5,084,029 5,078,668 Intangible assets, net 2,482,968 2,804,965 Deferred tax assets 114,820 72,333 Other assets 942,878 928,521 Total assets $ 12,207,598 $ 12,491,827 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 211,348 $ 243,565 Current portion of long-term debt 2,857 2,313 Accrued compensation and benefits 634,629 731,172 Other accrued liabilities 932,653 1,016,406 Income taxes payable 30,517 80,583 Total current liabilities 1,812,004 2,074,039 Long-term debt, net 4,908,866 4,939,712 Other long-term liabilities 940,301 920,536 Deferred tax liabilities 377,661 414,246 Total liabilities 8,038,832 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 August 31, 2024 and November 30, 2023, respectively — — Common stock, $ 0.0001 par value, 250,000 shares authorized; 68,077 and 67,883 shares issued as of August 31, 2024 and November 30, 2023, respectively, and 64,394 and 65,734 shares outstanding as of August 31, 2024 and November 30, 2023, respectively 7 7 Additional paid-in capital 3,653,735 3,582,521 Treasury stock, 3,683 and 2,149 shares as of August 31, 2024 and November 30, 2023, respectively ( 375,941 ) ( 271,968 ) Retained earnings 1,098,855 1,024,461 Accumulated other comprehensive loss ( 207,890 ) ( 191,727 ) Total stockholders' equity 4,168,766 4,143,294 Total liabilities and stockholders' equity $ 12,207,598 $ 12,491,827 The accompanyin

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