US Market News
4週前
Cognizant Launches Sovereign Physical AI Platform-as-a-ServiceJune 5, 2026 3:06 PM
PR Newswire (US) Establishes industry leading sovereign Physical AI Platform-as-a-Service, built on the Cognizant® Intelligence SpineUnifies Cognizant's engineering, AI, industry capabilities for Physical AI across eight core verticalsTEANECK, N.J., June 5, 2026 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today launched an industry leading sovereign Physical AI Platform-as-a-Service, an integrated capability that moves autonomous systems from experimentation into core enterprise infrastructure. Built on the Cognizant Intelligence Spine, the offering connects disparate physical systems, including industrial sensors, IoT devices, factory automation and energy infrastructure, into a single coherent intelligence fabric, helping enterprises scale Physical AI across their operations. Physical AI brings advanced multimodal intelligence, including vision, sensing, positioning and low-latency communication, into the operating layers of a business, allowing enterprises to direct physical action with greater visibility and control. After two decades in which industrialization centered on software, autonomous systems are now expanding into factories, warehouses, agriculture, healthcare and mobility, opening what the Grand View Research has estimated to be close to a trillion-dollar opportunity across service and utility robotics, autonomous vehicles and humanoid systems by 2033."In some ways, this is the iPhone moment for robotics and Physical AI," said Ravi Kumar S, CEO, Cognizant. "Advanced vision sensors, precise positioning, low-latency secure communication and new multimodal AI innovations are the constituents that bring AI into the physical world. Over the next few years, autonomous systems are expected to move from experiments to infrastructure. As an AI builder, our role is to help embed AI-powered digital intelligence into the physical and operating layers of a business, so enterprises can direct physical action with confidence. The enterprises we serve are at an inflection point, and we have built the cognitive foundation they need to move forward."The shift is documented in Cognizant's New Work, New World 2026 study, which found that AI exposure in physical work has accelerated faster than long-range forecasts anticipated. In transportation, AI exposure climbed from 6% to 25%, and in construction it rose from 4% to 12%. The study also found that the most human-centered parts of physical work now have meaningful potential for digital enhancement, reinforcing the case for embedding AI directly into operational layers rather than leaving it confined to digital systems."Engineering and AI capabilities are distributed across companies and industries, and the opportunity in front of us is pervasive," said Vijay Narayan, Cognizant's newly appointed Global Head for Physical AI, who also leads the company's Manufacturing, Logistics, Energy and Utilities business. "Bringing them together lets us give clients a coherent way to put AI to work where their operations actually run. The differentiator is not a single model or sensor. It is the discipline to connect what physical systems observe, reason about it, act on it and keep that intelligence owned and governed by the enterprise as an asset that compounds over time. As AI builders, our role is to help embed intelligence into the physical and operating layers of a business, not to leave it confined to digital systems. We believe the companies that will lead the Physical AI era are not the ones waiting for proof-of-concept experiments to mature; they are the ones building governed, scalable systems into their physical and operational cores today, and that is what Cognizant is uniquely positioned to deliver."Built on the Cognizant Intelligence SpineThe central challenge in Physical AI is no longer building capable use cases but scaling and connecting them. The proliferation of AI models and equipment makers across the ecosystem leaves enterprises without shared context, a unified reasoning layer, or institutional knowledge they truly own, a condition that leaves an enterprise able to sense everything yet reason about little of it. Cognizant's thesis is that this is an architectural problem.The company's answer is the Cognizant Intelligence Spine, an industry leading sovereign institutional AI platform-as-a-service for Physical AI. The Spine sits between the physical edge, including sensors, cameras, robots and AI twins, and the agentic layer that reasons and acts, connecting physical AI systems with agentic AI into a single institutional mind that is designed for enterprise ownership and governance.In physical environments, where failure carries safety, compliance or operational consequences rather than just a poor user experience, this governed and sovereign approach is increasingly critical for many enterprise use cases. Cognizant builds the sovereign layer that makes physical AI institutional: unified across every system, connected to agentic AI, governed by the client's rules and deepening with every decision, so each AI system deployed contributes to a unified institutional intelligence the enterprise owns, governs and expands over time.Capabilities Across Eight Core VerticalsCognizant is deploying this capability across sectors, aligning its engineering, AI and industry expertise to deliver production value at-scale. From predictive maintenance and mission-critical system integration to clinical operations and intelligent energy grids, the applications are as diverse as they are impactful. The Cognizant Intelligence Spine is available for enterprise engagements with immediate applicability across eight core verticals including:Utilities: Grid modernization, wildfire prevention, predictive asset maintenance, distributed energy management.Oil & Gas: Pipeline integrity monitoring, autonomous inspection, safety-system intelligence, environmental compliance.Manufacturing: Autonomous quality control, predictive maintenance, robotic process integration, yield optimization.Logistics: Autonomous warehouse operations, fleet intelligence, last-mile optimization, supply chain visibility.Transportation: Autonomous fleet operations, infrastructure monitoring, port operations, real-time routing intelligence.Aerospace & Defense: Autonomous inspection, mission-critical AI, sovereign systems with full institutional governance.Healthcare & Life Sciences: Autonomous lab operations, clinical robotics, supply chain intelligence, capabilities for regulatory traceability.Consumer, Retail and CPG: Safety-critical monitoring, regulatory compliance automation, process inspection, digital-twin governance.About CognizantCognizant (Nasdaq: CTSH) is an AI Builder and technology services provider, bridging the gap between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, drive tangible outcomes and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @Cognizant.Forward-Looking StatementsThis press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the opportunity value of Physical AI, the effects and speed of impact of AI on physical work and the economy and Cognizant's ability to successfully deploy its Physical AI offerings in client environments. These statements are neither promises nor guarantees but include findings of the report discussed above and remain subject to a variety of risks and uncertainties, many of which are beyond Cognizant's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause outcomes to differ materially from those expressed or implied include general economic conditions, the impact of technological development and competition, the competitive and rapidly changing nature of the markets Cognizant and its clients compete in and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.For more information, contact:U.S.Name Katrina Cheung Email Katrina.cheung@cognizant.com
Europe / APACName Sarah DouglasEmail sarah.douglas@cognizant.com
IndiaName Vipin NairEmail Vipin.nair@cognizant.com View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-launches-sovereign-physical-ai-platform-as-a-service-302793025.htmlSOURCE Cognizant Technology Solutions Corporation Original: Cognizant Launches Sovereign Physical AI Platform-as-a-Service
US Market News
2月前
Cognizant s'apprête à acquérir Astreya pour renforcer ses capacités de services gérés axés sur l'IAApril 30, 2026 4:16 PM
PR Newswire (Canada)
L'acquisition élargira la pile technologique de constructeurs d'IA de Cognizant grâce à des capacités d'exploitation de l'IA de niveau productionAstreya, le spécialiste des services d'infrastructure d'IA et de centre de données possédant une expertise approfondie des centre de données et des services gérés des lieux de travail, rejoint Cognizant dans le cadre de la construction de la plus importante infrastructure de centre de données de l'histoireTEANECK, New Jersey, 30 avril 2026 /CNW/ - Cognizant (Nasdaq : CTSH) annonce aujourd'hui avoir conclu un accord définitif pour acquérir Astreya, un fournisseur mondial de solutions et de services TI gérés axés sur l'IA, dont le siège social est situé à San Jose, en Californie, pour un montant non divulgué. La transaction devrait faire avancer la transformation de Cognizant en tant que constructeur d'IA et élargir sensiblement les capacités de base de l'infrastructure d'IA de Cognizant en exploitant à grande échelle les vastes capacités de services gérés d'Astreya pour les entreprises clientes.
Créé en 2001 et exerçant ses activités dans plus de trente-cinq pays, Astreya possède 25 ans d'expérience en tant que partenaire de confiance pour les plus grandes entreprises technologiques au monde, y compris des relations à long terme avec six des « Sept Magnifiques » hyperscalers. Sa plateforme exclusive AI OpsHub, avec des modules pour l'évaluation de l'état de préparation, l'intelligence des signaux, l'analyse, l'automatisation agentique et le Bureau d'innovation technologique, devrait approfondir le bassin de talents en IA de Cognizant et renforcer ses capacités de prestation d'IA de qualité production, traduisant un vaste potentiel d'IA en résultats commerciaux spécifiques et en plateformes prêtes à l'emploi adaptées aux contextes de chaque client. Combinée à la stratégie d'infrastructure d'IA hybride de Cognizant, l'expertise différenciée d'Astreya en matière de conception, de construction et de gestion d'infrastructure d'IA dans l'ensemble de la chaîne de valeur devrait aider à soutenir et à accélérer la transformation des clients. Les solutions d'IA client sur mesure d'Astreya et ses partenariats avec l'écosystème, ancrés par Google Cloud Platform et ServiceNow, deviendront des actifs clés au sein de l'infrastructure mondiale de prestation de services de Cognizant.« Entre 2025 et 2030, la mise en place de l'infrastructure de centre de données d'IA s'élève actuellement à 6 700 milliards de dollars. La capacité mondiale devrait doubler d'ici cinq ans. Les cinq plus grands hyperscalers devraient dépenser près de 700 milliards de dollars en infrastructures rien qu'en 2026. En faisant l'acquisition d'Astreya et de sa plateforme d'infrastructure d'IA exclusive et de qualité de production, complémentaire à la pile de constructeurs d'IA de Cognizant, nous serons encore mieux à même d'aider les clients à concevoir leurs systèmes d'IA pilotés par plateforme et à les opérationnaliser à grande échelle », déclare Ravi Kumar S, chef de la direction de Cognizant.Surya Gummadi, président de Cognizant Americas, ajoute : « L'investissement dans les centres de données IA est un chemin critique pour la croissance future de l'économie et de l'emploi, en particulier aux États-Unis, où les centres de données et les activités connexes d'investissement de haute technologie représentaient 80 % de la croissance de la demande intérieure privée au premier semestre de 2025, et où les dépenses en capital des hyperscalers avoisinent maintenant les 400 milliards de dollars par an, chaque emploi direct dans les centres de données supportant plus de six emplois dans le reste de l'économie. La mise à l'échelle efficace et crédible de l'infrastructure d'IA, y compris les centres de données, exige un contexte approfondi et une expertise en création d'IA. Nous nous attendons à ce que l'acquisition d'Astreya élargisse de manière significative les capacités d'infrastructure d'IA de Cognizant et améliore nos puissantes relations avec les Sept Magnifiques ».La plateforme AI OpsHub d'Astreya, avec des modules pour l'évaluation de l'état de préparation, l'intelligence de signal, l'analyse et l'automatisation agentique, fournit à Cognizant un moteur d'exploitation prêt à l'emploi qui génère déjà des résultats mesurables. En plus du Bureau d'innovation technologique, les solutions d'intelligence artificielle client sur mesure d'Astreya, ses vastes capacités de services de gestion déléguée et ses partenariats avec l'écosystème, fondés sur la plateforme Google Cloud et ServiceNow, deviendront des actifs clés au sein de l'infrastructure mondiale de prestation de services de Cognizant.« Astreya a redéfini ce que signifie être un partenaire de confiance à l'ère de l'IA, en intégrant l'intelligence dans chaque solution, sans perdre la connexion humaine qui génère des résultats réels. Intégrer Cognizant est le prochain chapitre naturel pour l'équipe mondiale d'Astreya et, avant tout, pour les clients qui nous ont fait confiance pour gérer leurs environnements technologiques les plus critiques. Au cours des dernières années, nous avons fait des investissements délibérés et disciplinés dans l'IA : pour créer des plateformes, former des spécialistes et repenser fondamentalement la façon dont les services gérés sont fournis. Nous nous réjouissons à la perspective d'entrer dans l'ère de l'infrastructure de l'IA au sein de la famille Cognizant! », déclare Romil Bahl, président et chef de la direction d'Astreya. L'acquisition accélère directement la transition de Cognizant vers le statut de constructeur d'IA, pour aider les entreprises à combler l'écart entre l'investissement dans l'infrastructure d'IA et la valeur commerciale en opérationnalisant et en déployant des talents interdisciplinaires capables d'exploiter des systèmes d'IA à grande échelle. Astreya est un fournisseur de services de gestion impartie qui fournit déjà des services de gestion impartie dans des environnements exploités par six des hyperscalers. La société gère l'infrastructure de centre de données, les environnements de laboratoire d'intelligence artificielle, les réseaux d'entreprise et la technologie de l'espace de travail à grande échelle, avec près d'une décennie consécutive de prestation de services gérés axés sur les résultats.Pour les clients de Cognizant, l'acquisition devrait fournir des capacités éprouvées d'exploitation de l'IA (accélérateurs, solutions de PI de plateforme et talents hautement renforcés) qui peuvent être déployées immédiatement. Pour les clients actuels d'Astreya, l'envergure mondiale et la portée sectorielle de Cognizant devraient permettre d'accroître considérablement la capacité de service et d'accélérer la commercialisation des capacités émergentes d'IA d'entreprise à un rythme qui n'est pas réalisable en tant que fournisseur de services gérés autonome.L'acquisition devrait être conclue au deuxième trimestre de 2026, sous réserve de l'obtention des approbations réglementaires requises et d'autres conditions de clôture. Les clauses financières n'ont pas été divulguées.À propos de Cognizant :
Cognizant (NASDAQ : CTSH) est un développeur en IA et un fournisseur de services technologiques qui établit une passerelle entre l'investissement en IA et la valeur d'entreprise en mettant au point des solutions d'IA complètes pour nos clients. Notre expertise approfondie du secteur, des procédés et de l'ingénierie nous permet d'intégrer le contexte unique d'une organisation à des systèmes technologiques qui exploitent pleinement le potentiel humain, génèrent des bénéfices tangibles et maintiennent les entreprises internationales au premier plan dans un monde en constante évolution. Pour en savoir plus, consultez le site www.cognizant.com ou @cognizant.À propos d'Astreya :
Astreya est un fournisseur mondial de services TI gérés qui soutient les entreprises en concevant, en déployant et en gérant des environnements technologiques complexes. Nous proposons des solutions de bout en bout dans les domaines du nuage hybride, des centres de données, de l'infrastructure de réseau et de l'espace de travail numérique. L'automatisation intelligente et l'IA sont au cœur de tout ce que nous construisons pour favoriser l'efficacité, accélérer la prestation de services et éliminer les obstacles à la croissance de nos clients.Conseillers
Mayer Brown a agi à titre de conseiller juridique pour Cognizant. J.P. Morgan Securities LLC a agi à titre de conseiller financier exclusif et Latham & Watkins et Skadden, Arps, Slate, Meagher & Flom LLP ont agi à titre de conseillers juridiques pour Astreya.Pour en savoir plus, veuillez prendre contact avec :Tyler Scott, vice-président principal, relations avec les investisseurs : tyler.scott@cognizant.comJeff DeMarrais, vice-président principal et directeur des communications : jeff.demarrais@cognizant.com Déclarations prospectivesLe présent communiqué de presse contient des déclarations qui peuvent constituer des déclarations prospectives faites conformément aux dispositions relatives à la règle refuge du Private Securities Litigation Reform Act de 1995, dont l'exactitude est nécessairement sujette à des risques, des incertitudes et des hypothèses quant à des événements futurs qui pourraient ne pas s'avérer exacts. Ces déclarations comprennent, sans s'y limiter, des déclarations prospectives explicites ou implicites liés aux activités d'Astreya, y compris la croissance prévue ; les avantages prévus de la transaction proposée, y compris les avantages prévus liés aux synergies, aux nouvelles occasions d'affaires et à la croissance ; le moment prévu de la clôture de la transaction ; les plans, objectifs, attentes et intentions de la société fusionnée ; les investissements projetés dans les centres de données d'intelligence artificielle ; les dépenses en capital prévues ; et d'autres déclarations qui ne sont pas des faits historiques. Ces déclarations ne constituent ni des promesses ni des garanties, mais sont soumis à divers risques et incertitudes, dont beaucoup échappent à notre contrôle, et qui pourraient faire en sorte que les résultats réels diffèrent sensiblement de ceux envisagés dans ces déclarations prospectives. Les investisseurs actuels et éventuels sont invités à ne pas accorder une confiance excessive à ces déclarations prospectives, qui ne sont valables qu'à la date du présent document. Parmi les facteurs qui pourraient faire que les résultats réels diffèrent sensiblement de ceux exprimés ou sous-entendus, mentionnons le risque que les avantages attendus de la transaction ne soient pas pleinement réalisés ou qu'ils prennent plus de temps que prévu ; la perturbation des activités des parties en raison de l'annonce et de l'attente de la transaction ; la capacité d'obtenir les approbations requises de la transaction dans le délai prévu, ou du tout, et le risque que de telles approbations entraînent l'imposition de conditions qui pourraient nous nuire après la clôture de la transaction ou affecter négativement les avantages attendus de la transaction ; le risque que les conditions de clôture de l'accord de transaction soient remplies, ou tout retard imprévu dans la conclusion de la transaction ou la survenance d'un événement, d'un changement ou d'autres circonstances pouvant donner lieu à la résiliation de l'accord de transaction ; la possibilité que la transaction soit plus coûteuse à terminer que prévu, y compris en raison de facteurs ou d'événements imprévus ; le risque que la combinaison des activités et des activités d'Astreya en Cognizant soit plus coûteuse ou difficile que prévu, ou que nous ne soyons pas en mesure d'intégrer avec succès les activités d'Astreya aux nôtres, y compris en raison de facteurs ou d'événements imprévus ; et les conditions générales de concurrence, économiques, politiques et du marché et d'autres facteurs qui pourraient affecter nos résultats futurs ou ceux d'Astreya, y compris les conditions économiques générales, la nature concurrentielle et en évolution rapide des marchés sur lesquels nous sommes en concurrence, le marché concurrentiel des talents et son incidence sur le recrutement et la fidélisation des employés, notre capacité à utiliser avec succès les technologies fondées sur l'IA, les risques juridiques, de réputation et financiers résultant de cyberattaques, les changements dans l'environnement réglementaire, y compris en ce qui concerne l'immigration et les taxes. D'autres facteurs susceptibles d'influencer les résultats futurs sont abordés dans notre dernier rapport annuel sur le formulaire 10-K et dans d'autres documents déposés auprès de la Securities and Exchange Commission. Cognizant ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives, que ce soit à la suite de nouvelles informations, d'événements futurs ou autres, sauf si la loi sur les valeurs mobilières en vigueur l'exige.Logo - https://mma.prnewswire.com/media/1794711/5943571/Cognizant_Logo_V1.jpgSOURCE Cognizant Technology Solutions Corporation
Original: Cognizant s'apprête à acquérir Astreya pour renforcer ses capacités de services gérés axés sur l'IA
US Market News
2月前
Cognizant Reports First Quarter 2026 ResultsApril 29, 2026 6:30 AM
PR Newswire (US)
Revenue growth in upper half of guidance range; double digit adjusted EPS growth year-over-year;
21% quarterly bookings growth, driven by seven large dealsRevenue of $5.4 billion increased 5.8% year-over-year or 3.9% in constant currency1Operating margin of 15.6% decreased 110 basis points year-over-year; Adjusted Operating Margin1 of 15.6% increased 10 basis points year-over-yearGAAP EPS of $1.39 increased 3.7% year-over-year; Adjusted EPS1 of $1.40 increased 13.8% year-over-yearTrailing 12-month bookings of $29.6 billion increased 11% year-over-year, driven by 21% growth in the first quarter; 7 large deals signed in the first quarter2026 constant currency revenue growth guidance is unchanged at 4.0% to 6.5%2026 Adjusted Operating Margin guidance is increased to 16.0% to 16.2%, year-over-year expansion of 20 to 40 basis points compared to prior guidance of 10 to 30 basis points of expansionTEANECK, N.J., April 29, 2026 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading AI builder and technology services provider, today announced its first quarter 2026 financial results.
"In a complex macroeconomic environment, we delivered first quarter revenue growth in the upper half of our guidance range, with sustained bookings momentum and Financial Services again leading performance. We signed seven large deals in the quarter and delivered over 70% large deal total contract value growth year-over-year," said Ravi Kumar S, Chief Executive Officer. "We believe our AI builder strategy, deep industry expertise and scaled partnership ecosystem uniquely position us to bridge the 'AI Velocity Gap' by helping clients convert their significant AI investments into tangible business outcomes."$ in millions, except per share dataQ1 2026
Q1 2025Revenue$5,413
$5,115Y/Y Change5.8 %
7.5 %Y/Y Change CC13.9 %
8.2 %GAAP Operating Margin15.6 %
16.7 %Adjusted Operating Margin115.6 %
15.5 %GAAP Diluted EPS$1.39
$1.34Adjusted Diluted EPS1$1.40
$1.23See "Revenue by Business Segment and Geography" section for additional revenue details and drivers of growth."In the first quarter, we achieved strong bookings growth of 21%, expanded our adjusted operating margin year-over-year and drove double-digit adjusted EPS growth that outpaced revenue," said Jatin Dalal, Chief Financial Officer. "The Project Leap program we announced today is a key step toward accelerating our vision of the operating model of the future and funding continued investments in AI, competitive offerings and the re-skilling of our workforce."BookingsOn a trailing-twelve-month basis, bookings increased 11% year-over-year to $29.6 billion, which represented a book-to-bill of approximately 1.4x. Bookings in the first quarter increased 21% year-over-year. First quarter bookings included seven large deals, which are deals with total contract value of $100 million or greater, of which one was a mega deal, which is a deal with total contract value of $500 million or greater.Employee MetricsOn a trailing-twelve months basis, Voluntary Attrition - Tech Services was 12.3% for the period ended March 31, 2026, as compared to 12.3% and 12.0% for the periods ended December 31, 2025 and March 31, 2025, respectively. Total headcount as of March 31, 2026 was 357,600, an increase of 6,000 from December 31, 2025 and 21,300 from March 31, 2025. In the first quarter of 2026, we modified our definition of 'Voluntary Attrition - Tech Services' to exclude certain categories of negotiated separations. Prior periods disclosed have been recast to conform to the new definition.Return of Capital to ShareholdersThe Company repurchased 6.3 million shares for $427 million during the first quarter under its share repurchase program. As of March 31, 2026, there was $1.5 billion remaining under the share repurchase authorization. In April 2026, the Company declared a quarterly cash dividend of $0.33 per share for shareholders of record on May 18, 2026. This dividend will be payable on May 27, 2026.Project LeapIn the second quarter of 2026, we introduced Project Leap, a program designed to accelerate our transformation to the operating model of the future by funding investments in our integrated offerings, AI capabilities and partnerships, reshaping productivity through competitive offerings and upskilling our workforce. By fostering a workforce that is properly sized, AI-enabled and possesses the skills required for success as well as optimizing our technology footprint, we aim to streamline operations and enhance productivity through AI-led efficiencies, creating a more agile and cost-effective operating model. This program is expected to generate in-year savings of approximately $200 million to $300 million in 2026. These expected savings, net of the investments described above, are enabling us to raise our 2026 adjusted operating margin guidance from expansion of 10 to 30 basis points to expansion of 20 to 40 basis points, in-line with our long-term aspiration to expand margins.In connection with Project Leap, we expect to record costs of $230 million to $320 million, with substantially all of the costs expected to be incurred in 2026. This consists of $200 million to $270 million of employee severance and other personnel related costs and $30 million to $50 million of other charges.Second Quarter and Full-Year 2026 Guidance2(all growth rates year-over-year)Second quarter revenue is expected to be $5.45 to $5.52 billion, growth of 3.8% to 5.3%, or 3.2% to 4.7% in constant currency.Full-year 2026 revenue is expected to be $22.11 to $22.64 billion, growth of 4.8% to 7.3%, or 4.0% to 6.5% in constant currency.Full-year 2026 Adjusted Operating Margin3 is expected to be approximately 16.0% to 16.2%, or 20 to 40 basis points of expansion.Full-year 2026 Adjusted Diluted EPS3 is expected to be in the range of $5.63 to $5.77, growth of 7% to 9%.Select Company, Client and Partnership Announcements Cognizant is building a portfolio of capabilities combined with deep domain expertise to harness and advance an AI-led future. Cognizant's progress has been accelerated through client agreements, platform enhancements, and partnerships. Recent announcements include:Client AnnouncementsJoined the J.P. Morgan Payments Consultant Implementation Program (PCIP), a trusted network of resources that helps J.P. Morgan clients modernize their business by unifying technology and treasury with implementations guided by the expertise of J.P. Morgan and its partners. Cognizant will offer enhanced connectivity to help mutual clients connect J.P. Morgan Payments solutions to their treasury management system (TMS) and enterprise resource planning (ERP) platforms. Signed a three-year strategic agreement with DAMAC Group, a UAE-based global conglomerate encompassing a diverse portfolio across various industries, to transform IT operations and elevate customer experience. The engagement encompasses a wide spectrum of IT infrastructure services and application services across DAMAC's ecosystem, including digital and e-commerce platforms, CRM, core enterprise systems, data platforms, and AI-led initiatives.Expanded its agreement with Wallenius Wilhelmsen, a leading global provider of shipping and vehicle logistics, to support the company with technology services covering core applications and infrastructure. By applying its expertise in modernizing legacy portfolios and introducing practical AI-driven efficiencies, Cognizant is working to support Wallenius Wilhelmsen's work to simplify its digital operations and build a stronger digital foundation.Platform Enhancements and Partnerships Announced it has been named among a select group of partners chosen by OpenAI to scale the impact of Codex across enterprise clients worldwide. Cognizant is embedding Codex directly into its engineering workflows across its Software Engineering Group, with the goal of making it a standardized capability for how Cognizant builds and delivers software.Announced the launch of Agentic Retail CX, a new AI-powered contact center solution built on Google Cloud's Gemini Enterprise for Customer Experience (CX). Designed specifically for retailers, the solution helps brands deliver personalized, omnichannel experiences while reducing operational costs, improving employee productivity and accelerating the adoption of agentic AI across the retail value chain. Established a dedicated Gemini Enterprise Practice, in collaboration with Google Cloud, to accelerate enterprise adoption of Gemini Enterprise at scale. Cognizant has also been designated by Google Cloud as a Diamond partner, the highest tier in the Google Cloud partner program, in recognition of its AI Builder approach. Under the program, Cognizant plans to deploy forward-deployed engineers, senior engineering talent embedded directly within client environments, working in close collaboration with Google Cloud's teams. Partnered with Palantir to accelerate AI-driven modernization in healthcare and enterprise operations. Cognizant will leverage Palantir Foundry and Palantir Artificial Intelligence Platform (AIP) to advance AI integration within Cognizant's TriZetto healthcare business, while jointly pursuing broader enterprise AI transformation opportunities for clients across industries.Announced that its AI Lab has received three new U.S. patents, bringing its total number of patents to 65 in the U.S. and 88 globally. The newly granted patents build on the lab's work in areas such as human-AI collaboration for decision-making and deep learning for specialized tasks.Cognizant AI Lab unveiled in four new research papers how the company is fine-tuning large language models (LLMs) using evolution strategies. The papers introduce training methods that help LLMs handle more complex reasoning tasks while running more efficiently with fewer computing resources.Expanded AI infrastructure capabilities with launch of Cognizant AI Factory, a multi-tenant, enterprise-grade offering powered by Dell Technologies and NVIDIA AI infrastructure and software platform. Cognizant's proprietary Fractional GPU technology, interoperable with NVIDIA Multi-Instance GPU, enables secure, isolated GPU "slices" that allow multiple business units to run AI workloads concurrently in a unified environment. Dell Technologies' proven expertise in delivering secure, scalable and high-performing AI infrastructure aim to help Cognizant AI Factory meet the rigorous demands of enterprise AI workloads.Unveiled Cognizant Skillspring™, a multimodal, AI-native, conversational learning platform designed to redefine learning in the AI era and help businesses cultivate AI-ready talent at scale. Cognizant Skillspring uses AI agent-driven tutoring and content creation to deliver high-quality, personalized learning across large workforces while helping organizations manage learning and development costs more efficiently.Belcan, a Cognizant company, announced that Belcan Government Solutions (BGS) was selected as one of America's outstanding Navy Reserve employers for 2026 in recognition of their exceptional support of reservists. Select Company Recognition, Announcements, and Analyst RatingsAnnounced the launch of the Cognizant Innovation Network, a corporate investment arm focused on backing early to mid-stage enterprise software startups. The initiative aims to accelerate Cognizant's ability to identify breakthrough technologies and integrate them into solutions for its Global 2000 client base.Appointed by the UK Department for Science, Innovation and Technology (DSIT) as an industry partner to the Government's TechFirst program, aimed at helping young people from all backgrounds find careers in technology as part of the UK AI Opportunities Action Plan. Cognizant aims to provide 100 work placements to undergraduate and master's students, aligned to the Digital & Technology Sector Plan's six frontier industries as outlined in the Government's UK Industrial Strategy. Building on the success of its Synapse initiative, Cognizant also aims to support 1,000 volunteering hours to inspire and mentor the next generation of tech talent across UK schools and colleges.Recognized on Fortune's list of "America's Most Innovative Companies 2026" for the fourth consecutive year. Fortune and Statista evaluated America's Most Innovative Companies 2026 across three dimensions: product innovation, process innovation and innovation culture. Patent activity was also analyzed and factored into the final score.Named one of America's Greatest Workplaces for Entry Level 2026 by Newsweek and Plant-A Insights Group. The study evaluated employers across categories most meaningful to early-career professionals, including work-life balance and corporate culture to career progression. With more than 610,000 company reviews collected in 2025 and 75,000 interviews from previous studies, the survey ranks among the largest independent evaluations of the entry-level workforce in the United States.Achieved recognition as one of the 2026 World's Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This award celebrates companies that demonstrate a commitment to ethical business practices through robust programs that positively impact employees, communities and broader stakeholders as well as contributing to sustainable, long-term business growth.Recognized as a Leader by Everest Group® in:Digital Workplace Services PEAK Matrix® Assessment, 2026 – Mid-Market EnterprisesHealthcare Payer Intelligent Operations PEAK Matrix® Assessment, 2026Duck Creek Services PEAK Matrix® Assessment, 2026Market Leader in HFS Horizons:Next-Gen IT Infrastructure Services, 2026 ReportAgentic Services, 2026 ReportA Leader in IDC MarketScape:Worldwide Data Modernization Services Providers for Retail and Restaurants 2026 Vendor Assessment, doc #US53010625, March 2026Leadership in ISG Provider Lens™:Oracle Ecosystem Partners, 2025 – USA Leader in The Forrester Wave™4Microsoft Business Application Services, Q1 2026Leadership in Avasant's RadarView: End-User Computing Services, 2026Hybrid Enterprise Cloud Services, 2026Life Sciences Digital Services, 2026Benelux Digital Services, 2026A Leader in NelsonHall GenAI & Process Automation in Banking NEAT Evaluation Conference CallCognizant will host a conference call on April 29, 2026, at 8:30 a.m. (Eastern) to discuss the Company's first quarter 2026 results. To listen to the conference call, please dial (877) 810-9510 (domestic) or +1 (201) 493-6778 (international) and provide the following conference passcode: "Cognizant Call."The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com. An earnings supplement will also be available on the Cognizant website at the time of the conference call. For those who cannot access the live broadcast, a replay will be available. To listen to the replay, please dial (877) 660-6853 (domestically) or +1 (201) 612-7415 (internationally) and enter 13759205 beginning two hours after the end of the call until 11:59 p.m. (Eastern) on Wednesday, May 13, 2026. The replay will also be available at Cognizant's website www.cognizant.com for 60 days following the call.About CognizantCognizant (Nasdaq: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.com or @cognizant.Forward-Looking StatementsThis press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to our strategy, strategic partnerships and collaborations, competitive position and opportunities in the marketplace, investment in and growth of our business, the pace and magnitude of change and client needs related to generative AI, the effectiveness of our recruiting and talent efforts and related costs, labor market trends, the anticipated amount of capital to be returned to shareholders, our anticipated financial performance, matters related to Project Leap, expectations related to our pending acquisition of Astreya, and other statements regarding matters that are not historical facts. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets we compete in, our ability to successfully use AI-based technologies and the impact those technologies may have on the demand and terms for our services, the competitive marketplace for talent and its impact on employee recruitment and retention, legal, reputational and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration, trade and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.About Non-GAAP Financial Measures and Performance MetricsNon-GAAP Financial MeasuresTo supplement our financial results presented in accordance with GAAP, this press release includes references to the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: Adjusted Operating Margin, Adjusted Net Income, Adjusted Diluted EPS (or Adjusted EPS), free cash flow, net cash and constant currency revenue growth. These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures should be read in conjunction with our financial statements prepared in accordance with GAAP. The reconciliations of our non-GAAP financial measures to the corresponding GAAP measures should be carefully evaluated.Our non-GAAP financial measures Adjusted Operating Margin and Adjusted Income from Operations exclude unusual items, such as the gain on sale of property and equipment in the first quarter of 2025. Our non-GAAP financial measures Adjusted Net Income and Adjusted Diluted EPS exclude unusual items, such as the gain on sale of property and equipment, net non-operating foreign currency exchange gains or losses and the tax impact of all the applicable adjustments. The income tax impact of each item excluded from Adjusted Net Income and Adjusted Diluted EPS is calculated by applying the statutory rate and local tax regulations in the jurisdiction in which the item was incurred. Free cash flow is defined as cash flows from operating activities plus proceeds from sale of property and equipment, net of purchases of property and equipment. Net cash is defined as cash and cash equivalents and short-term investments less short-term and long-term debt. Constant currency revenue growth is defined as revenues for a given period restated at the comparative period's foreign currency exchange rates measured against the comparative period's reported revenues.Management believes providing investors with an operating view consistent with how we manage the Company provides enhanced transparency into our operating results. For our internal management reporting and budgeting purposes, we use various GAAP and non-GAAP financial measures for financial and operational decision-making, to evaluate period-to-period comparisons, to determine portions of the compensation for our executive officers and for making comparisons of our operating results to those of our competitors. Accordingly, we believe that the presentation of our non-GAAP measures, which exclude certain costs, when read in conjunction with our reported GAAP results, can provide useful supplemental information to our management and investors regarding financial and business trends relating to our financial condition and results of operations. A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and may exclude costs that are recurring such as our net non-operating foreign currency exchange gains or losses. In addition, other companies may calculate non-GAAP financial measures differently than us, thereby limiting the usefulness of these non-GAAP financial measures as a comparative tool. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from our non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.Performance MetricsBookings are defined as total contract value (or TCV) of new contracts, including new contract sales as well as renewals and expansions of existing contracts. Bookings can vary significantly quarter to quarter depending in part on the timing of the signing of a small number of large contracts. Our book-to-bill ratio is defined as bookings for the trailing twelve months divided by revenue for the same period. Measuring bookings involves the use of estimates and judgments and there are no independent standards or requirements governing the calculation of bookings. The extent and timing of conversion of bookings to revenues may be impacted by, among other factors, the types of services and solutions sold, contract duration, the pace of client spending, actual volumes of services delivered as compared to the volumes anticipated at the time of sale, and contract modifications, including terminations, over the lifetime of a contract. The majority of our contracts are terminable by the client on short notice often without penalty, and some without notice. We do not update our bookings for subsequent terminations, reductions or foreign currency exchange rate fluctuations. Information regarding our bookings is not comparable to, nor should it be substituted for, an analysis of our reported revenues. However, management believes that it is a key indicator of potential future revenues and provides a useful indicator of the volume of our business over time. Large deals and mega deals are defined as deals with a total contract value of $100 million or greater and $500 million or greater, respectively.Investor Relations Contact:
Media Contact:Tyler Scott
Jeff DeMarraisSVP, Investor Relations
SVP, Corporate Communications +1 551-220-8246
+1 475-223-2298Tyler.Scott@cognizant.com
Jeff.DeMarrais@cognizant.com- tables to follow - COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except per share data)Three Months Ended
March 31,
2026
2025 Revenues $ 5,413
$ 5,115 Operating expenses:
Cost of revenues (exclusive of depreciation and amortization expense shown separately below)3,638
3,397 Selling, general and administrative expenses 791
791 Depreciation and amortization expense 141
136(Gain) on sale of property and equipment—
(62) Income from operations 843
853 Other income (expense), net:
Interest income 22
30 Interest expense (7)
(12) Foreign currency exchange gains (losses), net 18
2 Other, net (9)
(1) Total other income (expense), net 24
19 Income before provision for income taxes 867
872 Provision for income taxes (208)
(213) Income (loss) from equity method investment 3
4Net income$ 662
$ 663 Basic earnings per share $ 1.39
$ 1.34 Diluted earnings per share $ 1.39
$ 1.34Weighted average number of common shares outstanding - Basic477
494Dilutive effect of shares issuable under stock-based compensation plans—
1Weighted average number of common shares outstanding - Diluted477
495 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (in millions, except par values)March 31,
2026
December 31,
2025Assets
Current assets:
Cash and cash equivalents$ 1,504
$ 1,901Short-term investments13
13Trade accounts receivable, net4,609
4,439Other current assets1,709
1,465Total current assets7,835
7,818Property and equipment, net955
933Operating lease assets, net539
573Goodwill7,681
7,106Intangible assets, net1,485
1,417Deferred income tax assets, net853
967Long-term investments113
111Other noncurrent assets1,039
1,767Total assets$ 20,500
$ 20,692Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$ 363
$ 308Deferred revenue580
501Short-term debt33
33Operating lease liabilities140
153Accrued expenses and other current liabilities2,404
2,664Total current liabilities3,520
3,659Deferred revenue, noncurrent37
37Operating lease liabilities, noncurrent384
423Deferred income tax liabilities, net195
168Long-term debt535
543Other noncurrent liabilities761
847Total liabilities5,432
5,677Stockholders' equity:
Preferred stock, $0.10 par value, 15 shares authorized, none issued—
—Class A common stock, $0.01 par value, 1,000 shares authorized, 474 and 479 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively5
5Additional paid-in capital17
12Retained earnings15,272
15,158Accumulated other comprehensive income (loss)(226)
(160)Total stockholders' equity15,068
15,015Total liabilities and stockholders' equity$ 20,500
$ 20,692 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONReconciliations of Non-GAAP Financial Measures (Unaudited) (dollars in millions, except per share amounts)Three Months Ended
March 31,
Guidance
2026
2025
Full Year 2026 (1)GAAP income from operations$ 843
$ 853
(Gain) on sale of property and equipment(a)—
(62)
Adjusted Income From Operations$ 843
$ 791
GAAP operating margin15.6 %
16.7 %
Project Leap charges(b)—
—
1.0% - 1.5%(Gain) on sale of property and equipment(a)—
(1.2)
—Adjusted Operating Margin15.6 %
15.5 %
16.0% - 16.2%
GAAP net income$ 662
$ 663
Effect of adjustments to income from operations, pre-tax—
(62)
Non-operating foreign currency exchange (gains) losses, pre-tax(c)(18)
(2)
Tax effect of above adjustments(d)22
12
Adjusted Net Income$ 666
$ 611
GAAP diluted earnings per share$ 1.39
$ 1.34
Effect of gain on sale of property and equipment, pre-tax—
(0.13)
—Non-operating foreign currency exchange (gains) losses, pre-tax(c)(0.04)
—
(c)Tax effect of above adjustments(d)0.05
0.02
(c)Effect of Project Leap charges, pre-tax—
—
$0.49 - $0.68Tax effect of Project Leap charges—
—
($0.13) - ($0.18)Adjusted Diluted Earnings Per Share$ 1.40
$ 1.23
$5.63 - $5.77(1) A full reconciliation of Adjusted Operating Margin and Adjusted Diluted Earnings Per Share guidance to the corresponding GAAP measures on a forward-looking basis cannot be provided without unreasonable efforts, as we are unable to provide reconciling information with respect to unusual items, net non-operating foreign currency exchange gains or losses and the tax effects of these adjustments, and such adjustments may be significant. Notes:(a)During the three months ended March 31, 2025, we realized a gain on the sale of an office complex in India, which was reported in "(Gain) on sale of property and equipment" on our unaudited consolidated statement of operations.(b)In the second quarter of 2026, we introduced Project Leap, in connection with which we expect to record costs of $230 million to $320 million, with substantially all of the costs expected to be incurred in 2026. This consists of $200 million to $270 million of employee severance and other personnel related costs and approximately $30 million to $50 million of other charges. The estimates of the charges and expenditures that we expect to incur in connection with Project Leap, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur in connection with Project Leap.(c)Non-operating foreign currency exchange gains and losses, inclusive of gains and losses related to foreign exchange forward contracts not designated as hedging instruments for accounting purposes, are reported in "Foreign currency exchange gains (losses), net" in our unaudited consolidated statements of operations. Non-operating foreign currency exchange gains and losses are subject to high variability and low visibility and therefore cannot be provided on a forward-looking basis without unreasonable efforts.(d)Presented below are the tax impacts of our non-GAAP adjustment to pre-tax income for the:
(in millions)Three Months Ended March 31,
2026
2025
Non-GAAP income tax benefit (expense) related to:
Gain on sale of property and equipment$ —
$ (9)
Foreign currency exchange gains and losses(22)
(3)
The effective tax rate related to non-operating foreign currency exchange gains and losses varies depending on the jurisdictions in which such income and expenses are generated and the statutory rates applicable in those jurisdictions. As such, the income tax effect of non-operating foreign currency exchange gains and losses shown in the above table may not appear proportionate to the net pre-tax foreign currency exchange gains and losses reported in our unaudited consolidated statements of operations. Reconciliations of Net Cash(Unaudited) (in millions)
March 31, 2026
December 31, 2025Cash and cash equivalents(a)
$ 1,504
$ 1,901Short-term investments
13
13Less:
Short-term debt
33
33Long-term debt
535
543Net cash(a)
$ 949
$ 1,338Notes:(a)Cash and cash equivalents as of December 31, 2025 excludes $733 million of restricted cash related to our acquisition of 3Cloud which was reported in "Other noncurrent assets" on our unaudited consolidated statement of financial position. The above tables serve to reconcile the Non-GAAP financial measures to the most directly comparable GAAP measures. Refer to the "About Non-GAAP Financial Measures and Performance Metrics" section of our press release for further information on the use of these Non-GAAP measures. COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONRevenue by Business Segment and Geography(Unaudited) (dollars in millions)Three Months Ended March 31, 2026
Year over Year
$
% of total
% Change
Constant Currency% Change (a)Revenues by Segment:
Health Sciences$ 1,579
29.2 %
0.5 %
(0.9) %Financial Services (c)1,644
30.4 %
12.4 %
10.2 %Products and Resources (c)1,321
24.4 %
3.4 %
1.1 %Communications, Media and Technology (c)869
16.0 %
8.1 %
6.5 %Total Revenues (b)(c)$ 5,413
5.8 %
3.9 %Revenues by Geography:
North America (b)(c)$ 4,052
74.9 %
5.1 %
4.9 %United Kingdom509
9.4 %
11.4 %
4.6 %Continental Europe530
9.8 %
7.5 %
(3.1) %Europe - Total1,039
19.2 %
9.4 %
0.6 %Rest of World322
5.9 %
3.5 %
1.5 %Total Revenues (b)(c)$ 5,413
5.8 %
3.9 %
Notes:(a)Constant currency revenue growth is not a measure of financial performance prepared in accordance with GAAP. See "About Non-GAAP Financial Measures and Performance Metrics" section of our press release for further information.(b)For the quarter ended March 31, 2026, revenues from our recently completed acquisition contributed approximately 90 basis points to overall revenue growth, across all segments in North America.(c)For the quarter ended March 31, 2026, the sale of third-party products, primarily in North America, in connection with our integrated offerings strategy, contributed approximately 140 basis points to overall revenue growth. These sales contributed 1,000 basis points of growth to our Communications Media and Technology segment and 250 basis points growth to our Financial Services segment, while negatively impacting growth in our Health Sciences segment by 300 basis points. COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in millions)Three Months EndedMarch 31,
2026
2025Cash flows from operating activities:
Net income$ 662
$ 663Adjustments for non-cash income and expenses292
164Changes in operating assets and liabilities, net of effects of businesses acquired(680)
(427)Net cash provided by operating activities274
400Cash flows from investing activities:
Purchases of property and equipment(76)
(77)Proceeds from sale of property and equipment—
70Payments for business combinations, net of cash acquired(730)
—Net cash (used in) investing activities(806)
(7)Cash flows from financing activities:
Issuance of common stock under stock-based compensation plans17
19Repurchases of common stock(444)
(209)Net change in term loan borrowings and finance leases(11)
(12)Repayment of notes outstanding under the revolving credit facility—
(300)Dividends paid(159)
(155)Net cash (used in) financing activities(597)
(657)Effect of exchange rate changes on cash, cash equivalents and restricted cash(1)
13(Decrease) in cash, cash equivalents and restricted cash(1,130)
(251)Cash, cash equivalents and restricted cash, beginning of period2,634
2,231Cash and cash equivalents, end of period$ 1,504
$ 1,980 SUPPLEMENTAL CASH FLOW INFORMATION(in millions)Three Months EndedMarch 31,Stock Repurchases under Board of Directors' authorized stock repurchase program:2026
2025Number of shares repurchased6.3
2.3
Remaining authorized balance as of March 31, 2026$ 1,491
Reconciliation of Free Cash Flow Non-GAAP Financial Measure (in millions)Three Months EndedMarch 31,
2026
2025Net cash provided by operating activities$ 274
$ 400Purchases of property and equipment(76)
(77)Proceeds from sale of property and equipment—
70Free cash flow$ 198
$ 393
1Constant currency ("CC") revenue growth, Adjusted Operating Margin and Adjusted Diluted Earnings Per Share ("Adjusted Diluted EPS" or "Adjusted EPS") are not measures of financial performance prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). A full reconciliation of Adjusted Operating Margin guidance to the corresponding GAAP measure on a forward-looking basis cannot be provided without unreasonable efforts. See "About Non-GAAP Financial Measures and Performance Metrics" for more information and a partial reconciliation to the most directly comparable GAAP financial measure at the end of this release.2Guidance as of April 29, 20263A full reconciliation of Adjusted Operating Margin and Adjusted Diluted EPS guidance to the corresponding GAAP measures on a forward-looking basis cannot be provided without unreasonable efforts. See "About Non-GAAP Financial Measures and Performance Metrics" for more information and a partial reconciliation to the most directly comparable GAAP financial measures at the end of this release.4Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester's objectivity here.
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Original: Cognizant Reports First Quarter 2026 Results
US Market News
2月前
Cognizant to Acquire Astreya, Deepening Its AI-First Managed Services Capabilities at ScaleApril 29, 2026 6:00 AM
PR Newswire (US)
Acquisition will expand Cognizant's AI builder technology stack with production-grade AI operations capabilitiesAstreya, a specialist in AI infrastructure and data center services with deep expertise in data center and managed workplace services, to join Cognizant amid the largest data center infrastructure buildout in historyTEANECK, N.J., April 29, 2026 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced that it has entered into a definitive agreement to acquire Astreya, a leading platform-led, global AI-first IT managed services and solutions provider headquartered in San Jose, California, for an undisclosed sum. The transaction is expected to advance Cognizant's transformation as an AI builder and to meaningfully expand Cognizant's AI infrastructure foundation capabilities by harnessing Astreya's extensive managed services capabilities for enterprise clients at scale.
Founded in 2001 and operating across more than thirty-five countries, Astreya brings a 25-year track record as a trusted partner to the world's largest technology companies, including long-term, outcome-based managed services relationships with six of the "Magnificent Seven" hyperscalers. Its proprietary AI OpsHub platform, with modules for readiness assessment, signal intelligence, analytics, and agentic automation and Tech Innovation Office are expected to deepen Cognizant's AI talent pool and strengthen its production-grade AI delivery capabilities, translating broad AI potential into specific business outcomes and enterprise-ready platforms tailored to individual client contexts. Combined with Cognizant's hybrid-by-design AI infrastructure strategy, Astreya's differentiated expertise in designing, building, and managing AI infrastructure across the full value chain is expected to help support and accelerate customers' transformation journeys. Astreya's bespoke client AI solutions and its ecosystem partnerships anchored by Google Cloud Platform and ServiceNow will become key assets within Cognizant's global delivery infrastructure."Between 2025 and 2030 there is a projected $6.7 trillion AI data center infrastructure buildout currently reshaping the global technology landscape, with global capacity expected to double in five years. The five largest hyperscalers are expected to spend nearly $700 billion on infrastructure in 2026 alone. By acquiring Astreya and its proprietary AI tooling and production-grade infrastructure platform, which is complementary to Cognizant's AI builder stack, we will be even better-positioned to help clients architect their platform-led AI systems and operationalize them at scale," said Cognizant CEO Ravi Kumar S.Surya Gummadi, President of Cognizant Americas added, "AI data center investment is a critical path for future economic and job growth, especially in the U.S., where data centers and related high-tech investment activities were estimated to account for 80% of private domestic demand growth in the first half of 2025, and hyperscaler capital spending is now nearing $400 billion annually, with each direct data center job supporting more than six jobs elsewhere in the economy. Effective and credible scaling of AI infrastructure, including data centers, requires deep context and AI builder expertise. We expect the acquisition of Astreya will meaningfully expand Cognizant's AI Infrastructure capabilities and enhance our powerful 'Magnificent Seven' hyperscaler relationships."Astreya's AI OpsHub, with modules for readiness assessment, signal intelligence, analytics, and agentic automation, gives Cognizant a ready-built operations engine already generating measurable results. In addition to the Tech Innovation Office, Astreya's bespoke client AI solutions, extensive managed services capabilities and its ecosystem partnerships anchored by Google Cloud Platform and ServiceNow will become key assets within Cognizant's global delivery infrastructure."Astreya has redefined what it means to be a trusted partner in the AI era, embedding intelligence into every solution, without losing the human connection that drives real results. Joining Cognizant is the natural next chapter for the Astreya global team and importantly, the clients who have trusted us to operate their most critical technology environments. We have spent the last several years making deliberate, disciplined investments in AI: building platforms, training specialists and fundamentally redesigning how managed services are delivered. We look forward to attacking the AI infrastructure era as a part of Cognizant!" said Romil Bahl, President and CEO, Astreya. The acquisition directly accelerates Cognizant's transition into an AI builder, where the company is helping enterprises bridge the gap between AI infrastructure investment and business value by operationalizing and deploying interdisciplinary talent capable of operating AI systems at scale. Astreya is an operational managed services provider already providing managed services within environments operated by six of the hyperscalers, managing data center infrastructure, AI lab environments, enterprise networks, and workplace technology at hyperscaler scale, with nearly a decade of consecutive outcomes-based managed services delivery.For Cognizant's existing clients, the acquisition is expected to deliver proven AI operations capabilities - accelerators, platform IP and hyperscaler-hardened talent - that can be deployed immediately. For Astreya's existing clients, Cognizant's global scale and industry breadth is expected to unlock meaningfully expanded service capacity and accelerate the commercialization of emerging Enterprise AI Ops capabilities at a pace not achievable as a standalone managed service provider.The acquisition is expected to close in the second quarter of 2026, subject to the receipt of required regulatory approvals and other closing conditions. Financial terms were not disclosed.About Cognizant:
Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.com or @cognizant.About Astreya:
Astreya is a global IT Managed Services provider that powers enterprises by designing, deploying, and managing complex technology environments. We deliver end-to-end solutions across hybrid cloud, data centers, network infrastructure, and the digital workplace. Intelligent automation and AI run through everything we build to drive efficiency, accelerate service delivery, and clear barriers to growth for our customers.Advisors
Mayer Brown served as legal advisor to Cognizant. J.P. Morgan Securities LLC served as exclusive financial advisor and Latham & Watkins and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisors to Astreya.For more information, contact:Tyler Scott SVP, Investor Relations: tyler.scott@cognizant.comJeff DeMarrais SVP, Chief Communications Officer: jeff.demarrais@cognizant.com Forward-Looking StatementsThis press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the business of Astreya, including the expected growth; the anticipated benefits of the proposed transaction, including anticipated benefits relating to synergies, new business opportunities, and growth; the expected timing of the transaction closing; the combined company's plans, objectives, expectations, and intentions; projected AI data center investment; anticipated hyperscaler capital spending; and other statements that are not historical facts. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the risk that the expected benefits from the transaction may not be fully realized or may take longer than anticipated to be realized; disruption to the parties' businesses as a result of the announcement and pendency of the transaction; the ability to obtain required approvals of the transaction on the timeline expected, or at all, and the risk that such approvals may result in the imposition of conditions that could adversely affect us after the closing of the transaction or adversely affect the expected benefits of the transaction; reputational risk and the reaction of each company's customers, suppliers, employees or other business partners to the transaction; the failure of the closing conditions in the transaction agreement to be satisfied, or any unexpected delay in closing the transaction or the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; risks related to management and oversight of the expanded business and operations of Cognizant following the transaction; the risk that combining Astreya's business and operations into Cognizant will be more costly or difficult than expected, or that we are otherwise unable to successfully integrate Astreya's businesses with our own, including as a result of unexpected factors or events; and general competitive, economic, political and market conditions and other factors that may affect our future results or that of Astreya, including general economic conditions, the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, our ability to successfully use AI-based technologies, legal, reputational and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration and taxes. Additional factors which could affect future results are discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-to-acquire-astreya-deepening-its-ai-first-managed-services-capabilities-at-scale-302756669.htmlSOURCE Cognizant Technology Solutions Corporation
Original: Cognizant to Acquire Astreya, Deepening Its AI-First Managed Services Capabilities at Scale
US Market News
5月前
Cognizant Reports Fourth Quarter and Full-Year 2025 ResultsFebruary 4, 2026 6:30 AM
PR Newswire (US)
Exceeds fourth quarter revenue guidance and full year guidance across revenue, adjusted operating margin, and adjusted EPSFourth quarter revenue of $5.3 billion increased 4.9% year-over-year or 3.8% in constant currency1Full-year revenue of $21.1 billion increased 7.0% year-over-year or 6.4% in constant currencyFull-year operating margin of 16.1% increased 140 basis points year-over-year; Adjusted Operating Margin1 of 15.8% increased 50 basis points year-over-yearFull-year GAAP EPS of $4.56 increased by 1% year-over-year; Adjusted EPS1 of $5.28 increased 11% year-over-yearTrailing 12-month bookings of $28.4 billion increased 5% year-over-year, driven by 9% growth in the fourth quarter; 28 large deals signed in 2025, including 12 in the fourth quarterIn 2026, expect to return $1.6 billion to shareholders through share repurchases and dividends, including $1 billion of share repurchasesCash dividend increased 6.5% to $0.33 per share for Q1 20262026 constant currency revenue growth guidance 4.0% to 6.5%2026 Adjusted Operating Margin guidance is 15.9% to 16.1%, expansion of 10 to 30 basis pointsTEANECK, N.J., Feb. 4, 2026 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), one of the world's leading professional services companies, today announced its fourth quarter and full-year 2025 financial results.
"I am deeply grateful to our over 350,000 employees who helped make 2025 a defining year for Cognizant in which we put our AI builder strategy in motion and returned to the 'winner's circle' two years ahead of the target we set at our Investor Day," said Ravi Kumar S, Chief Executive Officer. "We have invested in our talent, strengthened our partnership ecosystem and advanced our AI platforms to help clients scale AI across the enterprise. These investments helped us sign 28 large deals in 2025 with large deal TCV growth of nearly 50% year-over-year. We are confident that the foundation we built over the last three years positions us well to carry this momentum in the years ahead."$ in millions, except per share dataQ4 2025
Q4 2024
2025
2024Revenue$5,333
$5,082
$21,108
$19,736Y/Y Change4.9 %
6.8 %
7.0 %
2.0 %Y/Y Change CC13.8 %
6.7 %
6.4 %
1.9 %GAAP Operating Margin16.0 %
14.8 %
16.1 %
14.7 %Adjusted Operating Margin116.0 %
15.7 %
15.8 %
15.3 %GAAP Diluted EPS$1.34
$1.10
$4.56
$4.51Adjusted Diluted EPS1$1.35
$1.21
$5.28
$4.75Operating cash flow conversion (Operating cash flow / net income)
129 %
95 %Free cash flow conversion (Free cash flow1 / net income)
120 %
82 %Our acquisition of Belcan contributed approximately 260 basis points to revenue growth for the full year ended December 31, 2025. GAAP Diluted EPS includes a one-time non-cash income tax charge that negatively impacted full year 2025 by $0.80."In 2025, we outperformed the high end of our guidance ranges, combining top-tier revenue growth with 50 basis points of expanded adjusted operating margin and 11% adjusted EPS growth," said Jatin Dalal, Chief Financial Officer. "Our operational rigor allowed us to maintain a robust free cash flow conversion of more than 100% of net income and return $2 billion to shareholders. Our initial 2026 guidance reflects sustained momentum, backed by our commitment to advancing our strategic investments aimed at accelerating our AI-led growth strategy."BookingsOn a trailing-twelve-month basis, bookings increased 5% year-over-year to $28.4 billion, which represented a book-to-bill of approximately 1.3x. Bookings in the fourth quarter increased 9% year-over-year. Fourth quarter bookings included twelve large deals, which are deals with total contract value of $100 million or greater, of which two were mega deals, or deals with total contract value of $500 million or greater.Employee MetricsOn a trailing-twelve months basis, Voluntary Attrition - Tech Services was 13.9% for the period ended December 31, 2025, as compared to 14.5% and 15.9% for the periods ended September 30, 2025 and December 31, 2024, respectively. Total headcount as of December 31, 2025 was 351,600, an increase of 1,800 from September 30, 2025 and 14,800 from December 31, 2024.Return of Capital to ShareholdersThe Company repurchased 4.3 million shares for $325 million during the fourth quarter under its share repurchase program. For the full-year, the company repurchased 17.4 million shares for $1.3 billion under the program. As of December 31, 2025, there was $1.9 billion remaining under the share repurchase authorization. In February 2026, the Company declared a quarterly cash dividend of $0.33 per share for shareholders of record on February 18, 2026. This dividend will be payable on February 26, 2026.First Quarter and Full-Year 2026 Guidance2
(all growth rates year-over-year)First quarter revenue is expected to be $5.36 to $5.44 billion, growth of 4.8% to 6.3%, or 2.7% to 4.2% in constant currency.Full-year 2026 revenue is expected to be $22.14 to $22.66 billion, growth of 4.9% to 7.4%, or 4.0% to 6.5% in constant currency.Full-year 2026 Adjusted Operating Margin3 is expected to be approximately 15.9% to 16.1%, or 10 to 30 basis points of expansion.Full-year 2026 Adjusted Diluted EPS3 is expected to be in the range of $5.56 to $5.70, growth of 5% to 8%.
1 Constant currency ("CC") revenue growth, Adjusted Operating Margin, Adjusted Diluted Earnings Per Share ("Adjusted Diluted EPS" or "Adjusted EPS") and free cash flow are not measures of financial performance prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). A full reconciliation of Adjusted Operating Margin guidance to the corresponding GAAP measure on a forward-looking basis cannot be provided without unreasonable efforts. See "About Non-GAAP Financial Measures and Performance Metrics" for more information and a partial reconciliation to the most directly comparable GAAP financial measure at the end of this release.2 Guidance as of February 4, 20263 A full reconciliation of Adjusted Operating Margin and Adjusted Diluted EPS guidance to the corresponding GAAP measures on a forward-looking basis cannot be provided without unreasonable efforts. See "About Non-GAAP Financial Measures and Performance Metrics" for more information and a partial reconciliation to the most directly comparable GAAP financial measures at the end of this release.Select Company, Client and Partnership Announcements Cognizant is building a portfolio of capabilities combined with deep domain expertise to harness and advance an AI-led future. Cognizant's progress has been accelerated through client agreements, platform enhancements, and partnerships. Recent announcements include:Client AnnouncementsAnnounced an agreement with Bupa Hong Kong, a leading health insurance specialist in Hong Kong, to deliver Cognizant's first AI-driven Business-Process-as-a-Service (BPaaS) solution for claims modernization in the region. The five-year engagement represents the largest Intuitive Operations and Automation (IOA) services deal for Cognizant in Hong Kong.Renewed agreement with Kohler, Co., a kitchen and bath products manufacturer, under which Cognizant will continue to jointly advance Kohler's global digital ecosystem, spanning across enterprise systems, Kohler.com and digital experiences, data and analytics, data center operations, end-user services, cloud platforms, and cybersecurity. The expanded agreement aims to bring enhanced cloud management capabilities and next-generation AI solutions, including Cognizant Neuro® IT Operations, to strengthen system reliability, deepen observability, and accelerate operational agility, positioning Kohler to harness ongoing, generative-AI-driven innovation.Celebrated 25 years of collaboration with Ace Hardware, a global hardware cooperative serving more than 8,900 locally owned and operated stores. Over the past 25 years, Cognizant has supported Ace's digital transformation of core systems and experiences, beginning with a major transformation from legacy platforms to SAP and continuing with sustained enhancements to e-commerce, supply chain and retailer-facing tools that suit Ace's unique co-op model.Entered a five-year IT services agreement with ERIKS, a leading provider of industrial components. Under the terms of the agreement, Cognizant will manage all of ERIKS' operational IT services, while also supporting them in transforming and modernizing their technology stack.Announced an agreement with Merchants Fleet, a market leader in fleet management and fleet leasing solutions, to transform operations and drive efficiency through advanced technology and AI. The collaboration continues Merchants Fleet's strategic initiative to modernize business processes across sales, fleet operations, and customer service. By leveraging generative AI to accelerate development cycles, Cognizant aims to support Merchants Fleet to build a more agile, future-ready architecture while laying out the foundation for long-term growth.Selected by the Coalition for Epidemic Preparedness Innovations (CEPI) to deliver a comprehensive digital transformation program which covers implementation of a new core Human Resources and Expense Management System (EMS) and consolidation of support for CEPI's Salesforce platform. The multi-year engagement marks a milestone in CEPI's digital transformation strategy to establish an enterprise architecture partner capable of introducing AI-enabled insights, automation and scalable solutions that aim to improve the organization's efficiency and reduce operational costs.Renewed a multi-million-dollar strategic collaboration with Travel + Leisure Co., a leading leisure travel company. The extended collaboration will focus on accelerating the digital transformation of Travel + Leisure Co. by modernizing its technological infrastructure and infusing AI to deliver enhanced experiences for its members and owners. Under the agreement, Cognizant will leverage its extensive hospitality domain expertise to optimize the technology ecosystem at Travel + Leisure Co., with the goal of elevating digital service experiences for its travel club members and an estimated 800,000 vacation club owners. Platform Enhancements and Partnerships Launched Cognizant® Resilient IT Operations, a platform-powered solution that combines automation, AI agents and advanced analytics to empower clients to modernize IT operations and reduce operational debt, while enabling technology teams to focus on strategic innovation instead of routine maintenance.Adopted Anthropic's Claude, one of the world's most powerful family of large language models (LLMs), to help our enterprise customers and internal teams move from AI experimentation to scaled business outcomes. Cognizant plans to combine the Claude family of models and agentic tooling with Cognizant's engineering platforms and industry blueprints to help deliver measurable impact at enterprise scale.Expanded partnership with Microsoft to advance AI transformation and frontier firm experiences. Under the multi-year strategic agreement, Cognizant and Microsoft will co-build industry-grade AI solutions, jointly co-sell globally and collaborate on large-scale deals across key sectors including Financial Services, Healthcare and Life Sciences, Retail, and Manufacturing. The partnership will embed agentic AI and Copilot powered by Work IQ, Foundry IQ and Fabric IQ capabilities into mission-critical workflows. This partnership also expands on the Cognizant Neuro® AI Suite of offerings Cognizant is bringing to the market which leverage Microsoft cloud and AI services.Partnered with Cognition, creator of Devin AI, the autonomous software engineer, to help enterprises apply AI to software development work at scale. The partnership brings together Devin, an AI engineer that can execute development tasks independently and in parallel, and Windsurf, an agentic development environment that augments individual engineers in real time, with Cognizant delivery models and platforms.Expanded global strategic partnership with Adobe to help enterprises transform how they create, govern and scale content and customer experiences using generative AI. The collaboration elevates a long-standing relationship, bringing together Adobe's AI-powered creative and experience platforms with Cognizant's AI builder approach, industry expertise and managed services capabilities, to help address rising content demand, brand governance, and cost pressure across regulated and high-growth industries. The partnership is designed around a joint go-to-market and delivery model that helps enable enterprises to operationalize AI-driven content at scale to enable coordinated workflows across agents, as well as customization across industries and use cases.Announced a new partnership with Typeface to help enterprises modernize marketing operations through agentic AI orchestration. By combining Cognizant's global delivery and transformation services with Typeface's marketing platform, the companies will aim to transform fragmented workflows into connected, efficient and scalable marketing processes. Using Typeface, enterprises can orchestrate the full marketing lifecycle in a unified platform powered by agentic AI. Cognizant will provide advisory, implementation, creative, and change-management services to help clients adopt and scale these capabilities across their organizations.Select Company Recognition, Announcements, and Analyst RatingsCompleted acquisition of 3Cloud, one of the largest independent Microsoft Azure services providers and a recognized leader in Azure-dedicated AI enablement. The combination of 3Cloud and Cognizant unites their strengths to create a company with deep expertise in Azure, Data & AI, and App Innovation that we believe is well positioned to accelerate enterprise AI transformation for clients worldwide.Unveiled Artificial Intelligence (AI) Lab and Cognizant Moment™ Studio in Bengaluru, forming an innovation hub that advances the company's AI builder strategy. The India AI Lab extends Cognizant's AI Lab in San Francisco, while the Cognizant Moment™ Studio is part of the company's digital experience practice that helps clients leverage AI to reimagine the customer experience and drive growth. Together, the lab and studio will focus on developing business-ready multi-agent systems, AI decisioning capabilities, responsible AI and AI-for-good initiatives.Announced the launch of its Next-Gen Cyber Defense Center (CDC) in Bengaluru. This center is key to the company's worldwide CDC network and is Cognizant's largest facility designed to deliver advanced AI powered platform centric cybersecurity managed services, engineering and transformation services to clients globally.Held a groundbreaking ceremony for a state-of-the-art 8,000-seat facility in the southern city of Visakhapatnam. The proposed new campus is expected to be completed in three phases by 2033. The first phase, for which construction will begin in 2026, will house 3,000 associates upon its completion in early 2029. The next two phases will increase the seating capacity to 8,000.Announced an expansion of our Synapse initiative, setting a new goal to upskill a total of two million individuals by the end of 2030. Launched in 2023, Cognizant's Synapse skilling initiative has outpaced its original goal of reaching one million individuals worldwide by the end of 2026.Included in Forbes' list of America's Best Employers for Veterans 2025. This award is presented in collaboration with Statista. Employers were identified through an independent survey which included over 17,000 U.S. veterans. The personal and public evaluation was based on workplace atmosphere & development, image, working conditions, salary & wages, diversity and more.Recognized as a Leader in the 2025 Gartner® Magic Quadrant™ for Custom Software Development Services4Recognized as a Leader by Everest Group® in:Banking IT Services PEAK Matrix® Assessment, 2025Payments IT Services PEAK Matrix® Assessment, 2025Payments BPS PEAK Matrix® Assessment, 2025Banking BPS PEAK Matrix® Assessment, 2025Digital Transformation Consulting PEAK Matrix® Assessment, 2025Customer Experience Services in Insurance Operations PEAK Matrix® Assessment, 2025Enterprise Quality Engineering Services PEAK Matrix® Assessment, 2025Artificial Intelligence and Generative AI Services PEAK Matrix® Assessment, 2025Property & Casualty Insurance IT Services PEAK Matrix® Assessment, 2025ServiceNow Services PEAK Matrix® Assessment, 2025Talent Readiness for Next Generation Data, Analytics, and AI Services PEAK Matrix® Assessment, 2025Data and Analytics Services PEAK Matrix® Assessment, 2025Global Capability Center Setup Capabilities in India PEAK Matrix® Assessment, 2025Sales Services PEAK Matrix® Assessment, 2025IT Service Management and Service Integration and Management Services PEAK Matrix® Assessment, 2025Global Capability Center Transformation and Setup Capabilities in India – Provider PEAK Matrix® Assessment, 2025A Leader in IDC MarketScape:Worldwide Life Sciences Healthcare Provider Engagement Services 2025 Vendor Assessment, doc # US51813524, September 2025Worldwide Experience Design Services 2025 Vendor Assessment, doc # US52973225, October 2025Worldwide Experience Build Services 2025 Vendor Assessment, doc # US52973125, October 2025Worldwide Manufacturing Intelligence Transformation Strategic Consulting 2025 Vendor Assessment, doc # US52988325, November 2025Worldwide Supply Chain Oracle Ecosystem Services 2025-2026 Vendor Assessment, doc # US53932925, December 2025Leadership in ISG Provider Lens™:AI Driven ADM, 2025 - US, Europe, and APACFuture of Work, 2025 - USLeadership in Avasant's RadarView:Data Center Managed Services, 2025Consumer Packaged Goods Digital Services, 2025Intelligent Automation Services, 2025Intelligent ITOps Services, 2025SAP S/4HANA Services, 2025Generative AI Services, 2025Digital Engineering Services, 2025Digital Workplace Services, 2025L&A Insurance Digital Services, 2025Healthcare Provider Digital Services, 2025Blockchain Services, 2025Digital CX Services, 2025Workday HCM Services, 2025
4 Gartner, Magic Quadrant for Custom Software Development Services, 1 December 2025. Gartner does not endorse any company, vendor, product or service depicted in its publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner publications consist of the opinions of Gartner's business and technology insights organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this publication, including any warranties of merchantability or fitness for a particular purpose.GARTNER and MAGIC QUADRANT are trademarks of Gartner, Inc. and its affiliates.Conference CallCognizant will host a conference call on February 4, 2026, at 8:30 a.m. (Eastern) to discuss the Company's fourth quarter and full year 2025 results. To listen to the conference call, please dial (877) 810-9510 (domestic) or +1 (201) 493-6778 (international) and provide the following conference passcode: "Cognizant Call."The conference call will also be available live on the Investor Relations section of the Cognizant website at http://investors.cognizant.com. An earnings supplement will also be available on the Cognizant website at the time of the conference call. For those who cannot access the live broadcast, a replay will be available. To listen to the replay, please dial (877) 660-6853 (domestically) or +1 (201) 612-7415 (internationally) and enter 13757577 beginning two hours after the end of the call until 11:59 p.m. (Eastern) on Wednesday, February 18, 2026. The replay will also be available at Cognizant's website www.cognizant.com for 60 days following the call.About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to our strategy, strategic partnerships and collaborations, competitive position and opportunities in the marketplace, investment in and growth of our business, the pace and magnitude of change and client needs related to generative AI, the effectiveness of our recruiting and talent efforts and related costs, labor market trends, the anticipated amount of capital to be returned to shareholders and our anticipated financial performance and other statements regarding matters that are not historical facts. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets we compete in, our ability to successfully use AI-based technologies and the impact those technologies may have on the demand and terms for our services, the competitive marketplace for talent and its impact on employee recruitment and retention, legal, reputational and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration, trade and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.About Non-GAAP Financial Measures and Performance MetricsNon-GAAP Financial Measures
To supplement our financial results presented in accordance with GAAP, this press release includes references to the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: Adjusted Operating Margin, Adjusted Net Income, Adjusted Diluted EPS (or Adjusted EPS), free cash flow, net cash and constant currency revenue growth. These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures should be read in conjunction with our financial statements prepared in accordance with GAAP. The reconciliations of our non-GAAP financial measures to the corresponding GAAP measures should be carefully evaluated.Our non-GAAP financial measures Adjusted Operating Margin and Adjusted Income from Operations exclude unusual items, such as the gain on sale of property and equipment and NextGen charges. Our non-GAAP financial measures Adjusted Net Income and Adjusted Diluted EPS exclude unusual items, such as the one-time income tax expense related to the enactment of the OBBBA, the gain on sale of property and equipment and NextGen charges, net non-operating foreign currency exchange gains or losses and the tax impact of all the applicable adjustments. The income tax impact of each item excluded from Adjusted Net Income and Adjusted Diluted EPS is calculated by applying the statutory rate and local tax regulations in the jurisdiction in which the item was incurred. Free cash flow is defined as cash flows from operating activities plus proceeds from sale of property and equipment, net of purchases of property and equipment. Net cash is defined as cash and cash equivalents and short-term investments less short-term and long-term debt. Constant currency revenue growth is defined as revenues for a given period restated at the comparative period's foreign currency exchange rates measured against the comparative period's reported revenues.Management believes providing investors with an operating view consistent with how we manage the Company provides enhanced transparency into our operating results. For our internal management reporting and budgeting purposes, we use various GAAP and non-GAAP financial measures for financial and operational decision-making, to evaluate period-to-period comparisons, to determine portions of the compensation for our executive officers and for making comparisons of our operating results to those of our competitors. Accordingly, we believe that the presentation of our non-GAAP measures, which exclude certain costs, when read in conjunction with our reported GAAP results, can provide useful supplemental information to our management and investors regarding financial and business trends relating to our financial condition and results of operations. A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and may exclude costs that are recurring such as our net non-operating foreign currency exchange gains or losses. In addition, other companies may calculate non-GAAP financial measures differently than us, thereby limiting the usefulness of these non-GAAP financial measures as a comparative tool. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from our non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.Performance Metrics
Bookings are defined as total contract value (or TCV) of new contracts, including new contract sales as well as renewals and expansions of existing contracts. Bookings can vary significantly quarter to quarter depending in part on the timing of the signing of a small number of large contracts. Our book-to-bill ratio is defined as bookings for the trailing twelve months divided by revenue for the same period. Measuring bookings involves the use of estimates and judgments and there are no independent standards or requirements governing the calculation of bookings. The extent and timing of conversion of bookings to revenues may be impacted by, among other factors, the types of services and solutions sold, contract duration, the pace of client spending, actual volumes of services delivered as compared to the volumes anticipated at the time of sale, and contract modifications, including terminations, over the lifetime of a contract. The majority of our contracts are terminable by the client on short notice often without penalty, and some without notice. We do not update our bookings for subsequent terminations, reductions or foreign currency exchange rate fluctuations. Information regarding our bookings is not comparable to, nor should it be substituted for, an analysis of our reported revenues. However, management believes that it is a key indicator of potential future revenues and provides a useful indicator of the volume of our business over time. Large deals and mega deals are defined as deals with a total contract value of $100 million or greater and $500 million or greater, respectively.Investor Relations Contact:
Media Contact:Tyler Scott
Jeff DeMarraisSVP, Investor Relations
SVP, Corporate Communications +1 551-220-8246
+1 475-223-2298Tyler.Scott@cognizant.com
Jeff.DeMarrais@cognizant.com- tables to follow -COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)
(in millions, except per share data)Three Months Ended
December 31,
Twelve Months Ended
December 31,
2025
2024
2025
2024 Revenues $ 5,333
$ 5,082
$ 21,108
$ 19,736 Operating expenses:
Cost of revenues (exclusive of depreciation and amortization expense shown
separately below)3,534
3,297
13,991
12,958 Selling, general and administrative expenses 806
844
3,240
3,223 Restructuring charges —
49
—
134 Depreciation and amortization expense 140
141
550
529(Gain) on sale of property and equipment—
—
(62)
— Income from operations 853
751
3,389
2,892 Other income (expense), net:
Interest income 27
28
105
119 Interest expense (8)
(19)
(37)
(54) Foreign currency exchange gains (losses), net 5
(18)
18
(19) Other, net 1
(2)
4
— Total other income (expense), net 25
(11)
90
46 Income before provision for income taxes 878
740
3,479
2,938 Provision for income taxes (235)
(199)
(1,258)
(713) Income (loss) from equity method investment 5
5
9
15Net income$ 648
$ 546
$ 2,230
$ 2,240 Basic earnings per share $ 1.35
$ 1.10
$ 4.57
$ 4.52 Diluted earnings per share $ 1.34
$ 1.10
$ 4.56
$ 4.51Weighted average number of common shares outstanding - Basic481
495
488
496Dilutive effect of shares issuable under stock-based compensation plans1
1
1
1Weighted average number of common shares outstanding - Diluted482
496
489
497 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONSOLIDATED STATEMENTS OF FINANCIAL POSITION(Unaudited)
(in millions, except par values)December 31,
2025
December 31,
2024Assets
Current assets:
Cash and cash equivalents$ 1,901
$ 2,231Short-term investments13
12Trade accounts receivable, net4,439
4,059Other current assets2,198
1,202Total current assets8,551
7,504Property and equipment, net933
994Operating lease assets, net573
552Goodwill7,106
6,953Intangible assets, net1,417
1,599Deferred income tax assets, net967
1,248Long-term investments111
90Other noncurrent assets1,034
1,026Total assets$ 20,692
$ 19,966Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$ 308
$ 340Deferred revenue501
450Short-term debt33
33Operating lease liabilities153
152Accrued expenses and other current liabilities2,664
2,610Total current liabilities3,659
3,585Deferred revenue, noncurrent37
30Operating lease liabilities, noncurrent423
420Deferred income tax liabilities, net168
154Long-term debt543
875Other noncurrent liabilities847
494Total liabilities5,677
5,558Stockholders' equity:
Preferred stock, $0.10 par value, 15 shares authorized, none issued—
—Class A common stock, $0.01 par value, 1,000 shares authorized, 479 and 495 shares issued
and outstanding as of December 31, 2025 and 2024, respectively5
5Additional paid-in capital12
13Retained earnings15,158
14,686Accumulated other comprehensive income (loss)(160)
(296)Total stockholders' equity15,015
14,408Total liabilities and stockholders' equity$ 20,692
$ 19,966 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONReconciliations of Non-GAAP Financial Measures(Unaudited)
(dollars in millions, except per share amounts)Three Months Ended
December 31,
Twelve Months Ended
December 31,
Guidance
2025
2024
2025
2024
Full Year 2026 (1)GAAP income from operations$ 853
$ 751
$ 3,389
$ 2,892
(Gain) on sale of property and equipment(a)—
—
(62)
—
NextGen charges(b)—
49
—
134
Adjusted Income From Operations$ 853
$ 800
$ 3,327
$ 3,026
GAAP operating margin16.0 %
14.8 %
16.1 %
14.7 %
(Gain) on sale of property and equipment—
—
(0.3)
—
—NextGen charges—
0.9
—
0.6
—Adjusted Operating Margin16.0 %
15.7 %
15.8 %
15.3 %
15.9% - 16.1%
GAAP net income$ 648
$ 546
$ 2,230
$ 2,240
Effect of adjustments to income from operations, pre-tax—
49
(62)
134
Non-operating foreign currency exchange (gains) losses,
pre-tax(c)(5)
18
(18)
19
Tax effect of above adjustments(d)8
(12)
42
(30)
One-time income tax expense related to the enactment of the
OBBBA(e)—
—
390
—
Adjusted Net Income$ 651
$ 601
$ 2,582
$ 2,363
GAAP diluted earnings per share$ 1.34
$ 1.10
$ 4.56
$ 4.51
Effect of adjustments to income from operations, pre-tax—
0.10
(0.13)
0.27
—Non-operating foreign currency exchange (gains) losses,
pre-tax(c)(0.01)
0.04
(0.04)
0.04
(c)Tax effect of above adjustments(d)0.02
(0.03)
0.09
(0.07)
(c)One-time income tax expense related to the enactment of the
OBBBA(e)—
—
0.80
—
—Adjusted Diluted Earnings Per Share$ 1.35
$ 1.21
$ 5.28
$ 4.75
$5.56 - $5.70
(1) A full reconciliation of Adjusted Operating Margin and Adjusted Diluted Earnings Per Share guidance to the corresponding GAAP measures on a forward-looking basis cannot be provided without unreasonable efforts, as we are unable to provide reconciling information with respect to unusual items, net non-operating foreign currency exchange gains or losses and the tax effects of these adjustments, and such adjustments may be significant.
Notes:(a)During the three months ended March 31, 2025, we realized a gain on the sale of an office complex in India, which was reported in "(Gain) on sale of property and equipment" on our unaudited consolidated statement of operations.(b)NextGen charges for the three months ended December 31, 2024 include $30 million of employee separation costs, $7 million of facility exit costs and $12 million of third party and other costs. NextGen charges for the year ended December 31, 2024 include $85 million of employee separation costs, $36 million of facility exit costs and $13 million of third party and other costs. The program concluded on December 31, 2024. The costs related to the NextGen program are reported in "Restructuring charges" in our unaudited consolidated statements of operations.(c)Non-operating foreign currency exchange gains and losses, inclusive of gains and losses on related foreign exchange forward contracts not designated as hedging instruments for accounting purposes, are reported in "Foreign currency exchange gains (losses), net" in our unaudited consolidated statements of operations. Non-operating foreign currency exchange gains and losses are subject to high variability and low visibility and therefore cannot be provided on a forward-looking basis without unreasonable efforts.(d)Presented below are the tax impacts of our non-GAAP adjustment to pre-tax income for the:
(in millions)Three Months Ended
December 31,
Twelve Months Ended
December 31,
2025
2024
2025
2024Non-GAAP income tax benefit (expense) related to:
Gain on sale of property and equipment$ —
$ —
$ (9)
$ —NextGen charges—
13
—
34Foreign currency exchange gains and losses(8)
(1)
(33)
(4)
The effective tax rate related to non-operating foreign currency exchange gains and losses varies depending on the jurisdictions in which such income and expenses are generated and the statutory rates applicable in those jurisdictions. As such, the income tax effect of non-operating foreign currency exchange gains and losses shown in the above table may not appear proportionate to the net pre-tax foreign currency exchange gains and losses reported in our unaudited consolidated statements of operations.(e)In July 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States, which, among other provisions, repealed the requirement to capitalize U.S. research and experimental ("R&E") costs. As a result, we do not believe it is more likely than not that we will realize our deferred tax asset of $390 million related to R&E costs capitalized outside the United States. These amounts would have otherwise been available to offset certain future U.S. taxes on our non-U.S. earnings, which, as a result of this repeal, we no longer project to be applicable to us. Therefore, in the third quarter of 2025, we recorded a one-time, non-cash income tax expense of $390 million. Reconciliations of Net Cash(Unaudited)
(in millions)
December 31, 2025
December 31, 2024Cash and cash equivalents(a)
$ 1,901
$ 2,231Short-term investments
13
12Less:
Short-term debt
33
33Long-term debt
543
875Net cash(a)
$ 1,338
$ 1,335
Notes:(a)Cash and cash equivalents as of December 31, 2025 excludes $733 million of restricted cash related to our acquisition of 3Cloud which was reported in "Other current assets" on our unaudited consolidated statement of financial position.
The above tables serve to reconcile the Non-GAAP financial measures to the most directly comparable GAAP measures. Refer to the "About Non-GAAP Financial Measures and Performance Metrics" section of our press release for further information on the use of these Non-GAAP measures. COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONRevenue by Business Segment and Geography(Unaudited)
(dollars in millions)Three Months Ended December 31, 2025
Year over Year
$
% of total
% Change
Constant
Currency
% Change (a)Revenues by Segment:
Health Sciences$ 1,621
30.4 %
5.2 %
4.2 %Financial Services1,586
29.7 %
10.5 %
9.3 %Products and Resources1,318
24.7 %
1.8 %
0.3 %Communications, Media and Technology 808
15.2 %
(0.4) %
(1.2) %Total Revenues$ 5,333
4.9 %
3.8 %Revenues by Geography:
North America$ 3,986
74.7 %
4.3 %
4.2 %United Kingdom480
9.0 %
7.9 %
3.8 %Continental Europe538
10.1 %
8.9 %
0.3 %Europe - Total1,018
19.1 %
8.4 %
2.0 %Rest of World329
6.2 %
2.5 %
3.6 %Total Revenues$ 5,333
4.9 %
3.8 %
Twelve Months Ended December 31, 2025
Year over Year
$
% of total
% Change
Constant
Currency
% Change (a)Revenues by Segment:
Health Sciences$ 6,347
30.1 %
7.0 %
6.4 %Financial Services6,173
29.2 %
7.3 %
6.8 %Products and Resources (b)5,285
25.0 %
10.5 %
9.7 %Communications, Media and Technology3,303
15.7 %
1.0 %
0.7 %Total Revenues (b)$ 21,108
7.0 %
6.4 %Revenues by Geography:
North America (b)$ 15,780
74.8 %
7.4 %
7.4 %United Kingdom1,922
9.1 %
5.2 %
2.1 %Continental Europe2,090
9.9 %
8.2 %
3.6 %Europe - Total4,012
19.0 %
6.7 %
2.9 %Rest of World1,316
6.2 %
2.9 %
4.7 %Total Revenues (b)$ 21,108
7.0 %
6.4 %
Notes:(a)Constant currency revenue growth is not a measure of financial performance prepared in accordance with GAAP. See "About Non-GAAP Financial Measures and Performance Metrics" section of our press release for further information.(b)For the year ended December 31, 2025, our acquisition of Belcan contributed approximately 260 basis points to overall revenue growth, respectively, primarily in North America and to a lesser extent in the United Kingdom. Additionally, Belcan contributed approximately 960 basis points of growth to our Products and Resources segment for the year ended December 31, 2025. COGNIZANT TECHNOLOGY SOLUTIONS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)
(in millions)Three Months EndedDecember 31,
Twelve Months EndedDecember 31,
2025
2024
2025
2024Cash flows from operating activities:
Net income$ 648
$ 546
$ 2,230
$ 2,240Adjustments for non-cash income and expenses94
40
991
394Changes in operating assets and liabilities, net of effects of businesses acquired116
334
(338)
(510)Net cash provided by operating activities858
920
2,883
2,124Cash flows from investing activities:
Purchases of property and equipment(77)
(83)
(288)
(297)Proceeds from sale of property and equipment—
—
70
—Net maturities (purchases) of investments2
4
(12)
266Payments for business combinations, net of cash acquired—
—
—
(1,615)Net cash (used in) investing activities(75)
(79)
(230)
(1,646)Cash flows from financing activities:
Issuance of common stock under stock-based compensation plans12
14
58
63Repurchases of common stock(338)
(154)
(1,378)
(605)Net change in term loan borrowings and earnout obligations and finance leases(10)
(12)
(42)
(73)Proceeds from borrowing under the revolving credit facility—
—
—
600Repayment of notes outstanding under the revolving credit facility—
(300)
(300)
(300)Dividends paid(151)
(150)
(610)
(600)Net cash (used in) by financing activities(487)
(602)
(2,272)
(915)Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash
equivalents(3)
(21)
22
(49)Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents293
218
403
(486)Cash, cash equivalents and restricted cash and cash equivalents, beginning of period2,341
2,013
2,231
2,717Cash, cash equivalents and restricted cash, end of period$ 2,634
$ 2,231
$ 2,634
$ 2,231 SUPPLEMENTAL CASH FLOW INFORMATION
(in millions)Three Months EndedDecember 31,Stock Repurchases under Board of Directors' authorized stock repurchase program:2025
2024Number of shares repurchased4.3
1.8
Remaining authorized balance as of December 31, 2025$ 1,918
Reconciliation of Free Cash Flow Non-GAAP Financial Measure
(in millions)Three Months EndedDecember 31,
Twelve Months EndedDecember 31,
2025
2024
2025
2024Net cash provided by operating activities$ 858
$ 920
$ 2,883
$ 2,124Purchases of property and equipment(77)
(83)
(288)
(297)Proceeds from sale of property and equipment—
—
70
—Free cash flow$ 781
$ 837
$ 2,665
$ 1,827
View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-reports-fourth-quarter-and-full-year-2025-results-302678354.htmlSOURCE Cognizant Technology Solutions Corporation
Original: Cognizant Reports Fourth Quarter and Full-Year 2025 Results
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