3 unchanged sentences
(currency and share amounts in thousands, except par value)
+Added: August 31, 2026
November 30, 2025
6 unchanged sentences
Property and equipment, net
+Added: Operating lease right-of-use assets, net
Intangible assets, net
15 unchanged sentences
Stockholders’ equity:
−Removed: Preferred stock, $ 0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of May 31, 2026 and November 30, 2025, respectively
+Added: Preferred stock, $ 0.0001 par value, 10,000 shares authorized and no shares issued and outstanding as of August 31, 2026 and November 30, 2025, respectively
Common stock, $ 0.0001 par value, 250,000 shares authorized;
−Removed: 70,591 and 70,316 shares issued as of May 31, 2026 and November 30, 2025, respectively, and 60,863 and 61,739 shares outstanding as of May 31, 2026 and November 30, 2025, respectively
+Added: 70,679 and 70,316 shares issued as of August 31, 2026 and November 30, 2025, respectively, and 60,948 and 61,739 shares outstanding as of August 31, 2026 and November 30, 2025, respectively
Additional paid-in capital
−Removed: Treasury stock, 9,728 and 8,577 shares as of May 31, 2026 and November 30, 2025, respectively
+Added: Treasury stock, 9,731 and 8,577 shares as of August 31, 2026 and November 30, 2025, respectively
Retained deficit
+Added: ( 1,157,782 )
Accumulated other comprehensive loss
6 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Cost of revenue
Selling, general and administrative expenses
−Removed: Operating income
+Added: Impairment charge
+Added: Operating income (loss)
Interest expense and finance charges, net
Other expense (income), net
−Removed: Income before income taxes
+Added: Income (loss) before income taxes
Provision for income taxes
−Removed: Earnings per common share:
+Added: Net income (loss)
+Added: Earnings (loss) per common share:
Weighted-average common shares outstanding:
4 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
+Added: Net income (loss)
Other comprehensive income (loss):
−Removed: Unrealized gains (losses) of defined benefit plans, net of taxes of $ 7,257 and $ 7,272 for the three and six months ended May 31, 2026, respectively, and $ 0 and $( 19 ) for the three and six months ended May 31, 2025, respectively
−Removed: Reclassification of net losses of defined benefit plans, net of taxes of $( 958 ) and $( 958 ) for the three and six months ended May 31, 2026, respectively, and $ 0 and $ 0 for the three and six months ended May 31, 2025, respectively
+Added: Unrealized gains (losses) of defined benefit plans, net of taxes of $ 156 and $ 7,428 for the three and nine months ended August 31, 2026, respectively, and $ 0 and $( 19 ) for the three and nine months ended August 31, 2025, respectively
+Added: Reclassification of net losses of defined benefit plans to net income (loss), net of taxes of $( 159 ) and $( 1,117 ) for the three and nine months ended August 31, 2026, respectively, and $ 0 and $ 0 for the three and nine months ended August 31, 2025, respectively
Total change in unrealized gain (losses) of defined benefit plans, net of taxes
−Removed: Unrealized gains (losses) on hedges during the period, net of taxes of $ 14,655 and $ 12,691 for the three and six months ended May 31, 2026, respectively, and $( 9,933 ) and $( 9,114 ) for the three and six months ended May 31, 2025, respectively
−Removed: Reclassification of net losses (gains) on hedges to net income, net of taxes of $( 2,818 ) and $( 4,295 ) for the three and six months ended May 31, 2026, respectively, and $ 141 and $( 1,421 ) for the three and six months ended May 31, 2025, respectively
+Added: Unrealized gains (losses) on hedges during the period, net of taxes of $ 1,245 and $ 13,936 for the three and nine months ended August 31, 2026, respectively, and $ 5,839 and $( 3,275 ) for the three and nine months ended August 31, 2025, respectively
+Added: Reclassification of net losses (gains) on hedges to net income (loss), net of taxes of $( 3,276 ) and $( 7,571 ) for the three and nine months ended August 31, 2026, respectively, and $ 186 and $( 1,235 ) for the three and nine months ended August 31, 2025, respectively
Total change in unrealized gains (losses) on hedges, net of taxes
−Removed: Foreign currency translation adjustments for the three and six months ended May 31, 2026 and 2025, respectively
+Added: Foreign currency translation adjustments for the three and nine months ended August 31, 2026 and 2025, respectively
Other comprehensive income (loss)
4 unchanged sentences
(currency and share amounts in thousands)
−Removed: Three and Six Months Ended May 31, 2026
+Added: Three and Nine Months Ended August 31, 2026
Treasury stock
3 unchanged sentences
Total stockholders’ equity
−Removed: Balances, February 28, 2026
−Removed: Other comprehensive income (loss)
+Added: Balances, May 31, 2026
+Added: Other comprehensive income
Share-based compensation activity
1 unchanged sentence
Repurchase of common stock
−Removed: Balances, May 31, 2026
+Added: Balances, August 31, 2026
+Added: ( 1,157,782 )
Balances, November 30, 2025
3 unchanged sentences
Repurchase of common stock
−Removed: Balances, May 31, 2026
+Added: Balances, August 31, 2026
+Added: ( 1,157,782 )
CONCENTRIX CORPORATION
1 unchanged sentence
(currency and share amounts in thousands)
−Removed: Three and Six Months Ended May 31, 2025
+Added: Three and Nine Months Ended August 31, 2025
Treasury stock
3 unchanged sentences
Total stockholders’ equity
−Removed: Balances, February 28, 2025
+Added: Balances, May 31, 2025
Other comprehensive income
2 unchanged sentences
Repurchase of common stock
−Removed: Balances, May 31, 2025
+Added: Balances, August 31, 2025
Balances, November 30, 2024
3 unchanged sentences
Repurchase of common stock
−Removed: Balances, May 31, 2025
+Added: Balances, August 31, 2025
The accompanying notes are an integral part of these consolidated financial statements.
2 unchanged sentences
(currency in thousands)
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
Cash flows from operating activities:
+Added: Net income (loss)
Adjustments to reconcile net income to net cash provided by operating activities:
+Added: Impairment charge
Non-cash share-based compensation expense
24 unchanged sentences
Repayments of the Securitization Facility
+Added: ( 1,068,000 )
+Added: ( 1,474,000 )
Proceeds from the issuance of Senior Notes due 2029
39 unchanged sentences
Concentration of credit risk
−Removed: For the three and six months ended May 31, 2026 and 2025, no client accounted for more than 10% of the Company’s consolidated revenue.
−Removed: As of May 31, 2026 and November 30, 2025, no client comprised more than 10% of the Company’s total accounts receivable balance.
+Added: For the three and nine months ended August 31, 2026 and 2025, no client accounted for more than 10% of the Company’s consolidated revenue.
+Added: As of August 31, 2026 and November 30, 2025, no client comprised more than 10% of the Company’s total accounts receivable balance.
Accounts receivable factoring
5 unchanged sentences
Under the accounts receivable financing arrangements, the financial institutions are responsible for any credit risk associated with the sold receivables.
−Removed: Sales of accounts receivable under the various factoring programs were $ 314,000 and $ 627,000 during the three and six months ended May 31, 2026, respectively, and $ 310,000 and $ 617,000 during the three and six months ended May 31, 2025, respectively, which amounts approximate cash collections on sold accounts receivable during each quarter.
+Added: Sales of accounts receivable under the various factoring programs were $ 289,000 and $ 916,000 during the three and nine months ended August 31, 2026, respectively, and $ 338,000 and $ 955,000 during the three and nine months ended August 31, 2025, respectively, which amounts approximate cash collections on sold accounts receivable during each quarter.
As noted above, the Company acts as a servicer (collects client payments on behalf of the financial institution) for certain of its accounts receivable factoring arrangements.
−Removed: The servicing fees and loss on the sale associated with these accounts receivable factoring arrangements were not material to the Company for the three and six months ended May 31, 2026 and 2025.
−Removed: As of May 31, 2026 and November 30, 2025, accounts receivable in the amount of $ 95,000 and $ 119,000 , respectively, had been sold to the financial institutions and were not included in accounts receivable, net in the consolidated balance sheets.
+Added: The servicing fees and loss on the sale associated with these accounts receivable factoring arrangements were not material to the Company for the three and nine months ended August 31, 2026 and 2025.
+Added: As of August 31, 2026 and November 30, 2025, accounts receivable in the amount of $ 98,000 and $ 119,000 , respectively, had been sold to the financial institutions and were not included in accounts receivable, net in the consolidated balance sheets.
Accounting pronouncements recently issued
In December 2023, the FASB issued ASU 2023-09, which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid.
−Removed: The amendments in ASU 2023-09 are effective for the Company for the fiscal year ending November 30, 2026.
+Added: The amendments in ASU 2023-09 are effective for the Company for the fiscal year ending November 30, 2026 and will be applied on a prospective basis.
The Company is currently evaluating the impact that this update will have on its disclosures in the annual consolidated financial statements.
−Removed: however, the amendments will be applied on a prospective basis.
In November 2024, the FASB issued ASU 2024-03, which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement.
10 unchanged sentences
In February 2026, the Company entered into a definitive agreement to sell a non-core business to a third party for approximately 15 million euros, subject to customary closing conditions and certain purchase price adjustments.
−Removed: The Company expects the transaction to close in the second half of fiscal year 2026.
+Added: The Company expects the transaction to close in the fourth quarter of fiscal year 2026.
In February 2026, the assets and liabilities of the business qualified as assets and liabilities held for sale due to the planned divestiture.
−Removed: As of May 31, 2026, assets held for sale of $ 202,738 primarily consist of cash, restricted cash (which relates to funds held for clients) and intangible assets, and liabilities held for sale of $ 172,259 primarily consist of liabilities related to funds held for clients.
−Removed: The Company determined that execution of a definitive agreement did not qualify as discontinued operations since it neither represented a strategic shift nor did it have a major effect on the Company’s operations and financial results.
−Removed: The Company recorded a loss on held for sale of $ 963 and $ 6,892 for the three and six months ended May 31, 2026 as a result of the fair value analysis performed.
+Added: As of August 31, 2026, assets held for sale of $ 212,959 primarily consist of cash, restricted cash (which relates to funds held for clients) and intangible assets, and liabilities held for sale of $ 182,149 primarily consist of liabilities related to funds held for clients.
+Added: The Company determined that execution of a definitive agreement to sell the aforementioned non-core business did not qualify as discontinued operations since it neither represented a strategic shift nor did it have a major effect on the Company’s operations and financial results.
+Added: The Company recorded a loss on held for sale of $ 1,528 and $ 8,420 for the three and nine months ended August 31, 2026 as a result of the fair value analysis performed.
This expense is included within selling, general and administrative expenses in the consolidated statement of operations.
−Removed: There was no comparable loss for the three and six months ended May 31, 2025.
+Added: There was no comparable loss for the three and nine months ended August 31, 2025.
NOTE 4— SHARE-BASED COMPENSATION:
3 unchanged sentences
The performance-based restricted stock units had a grant date weighted-average fair value of $ 37.84 per share and will vest, if at all, upon the achievement of certain financial targets during the three-year period ending November 30, 2028.
−Removed: The Company recorded share-based compensation expense of $ 25,367 and $ 26,862 for the three months ended May 31, 2026 and 2025, respectively.
−Removed: The Company recorded share-based compensation expense of $ 54,822 and $ 53,462 for the six months ended May 31, 2026 and 2025, respectively.
+Added: The Company recorded share-based compensation expense of $ 21,757 and $ 25,042 for the three months ended August 31, 2026 and 2025, respectively.
+Added: The Company recorded share-based compensation expense of $ 76,579 and $ 78,504 for the nine months ended August 31, 2026 and 2025, respectively.
Share-based compensation expense is included in selling, general and administrative expenses in the consolidated statements of operations.
2 unchanged sentences
The following table provides a reconciliation of cash, cash equivalents, cash held for sale, restricted cash and restricted cash held for sale reported within the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows:
+Added: August 31, 2026
+Added: August 31, 2025
Cash and cash equivalents
4 unchanged sentences
Restricted cash and restricted cash held for sale balances relate primarily to funds held for clients, restrictions placed on cash deposits by banks as collateral for the issuance of bank guarantees and the terms of a government grant, and letters of credit for leases.
−Removed: Of the restricted cash balance and the restricted cash held for sale balance, an aggregate of $ 166,579 and $ 187,139 related to funds held for clients as of May 31, 2026 and November 30, 2025, respectively.
−Removed: As of May 31, 2026 and November 30, 2025, the Company has a corresponding current liability recorded in current liabilities held for sale and other accrued liabilities on the consolidated balance sheet related to these funds.
+Added: Of the restricted cash balance and the restricted cash held for sale balance, an aggregate of $ 190,722 and $ 187,139 related to funds held for clients as of August 31, 2026 and November 30, 2025, respectively.
+Added: As of August 31, 2026 and November 30, 2025, the Company has a corresponding current liability recorded in current liabilities held for sale and other accrued liabilities on the consolidated balance sheet related to these funds.
Accounts receivable, net:
−Removed: Accounts receivable, net is comprised of the following as of May 31, 2026 and November 30, 2025:
+Added: Accounts receivable, net is comprised of the following as of August 31, 2026 and November 30, 2025:
+Added: August 31, 2026
November 30, 2025
6 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Balance at beginning of period
3 unchanged sentences
Property and equipment, net:
−Removed: The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of May 31, 2026 and November 30, 2025:
+Added: The following table summarizes the carrying amounts and related accumulated depreciation for property and equipment as of August 31, 2026 and November 30, 2025:
+Added: August 31, 2026
November 30, 2025
8 unchanged sentences
Property and equipment, net
−Removed: Shown below are the countries where 10% or more and other significant concentrations of the Company’s property and equipment, net are located as of May 31, 2026 and November 30, 2025:
+Added: Shown below are the countries where 10% or more and other significant concentrations of the Company’s property and equipment, net are located as of August 31, 2026 and November 30, 2025:
+Added: August 31, 2026
November 30, 2025
1 unchanged sentence
United States
−Removed: The following table summarizes the changes in the Company’s goodwill for the six months ended May 31, 2026 and May 31, 2025:
−Removed: Six Months Ended
+Added: The Company tests goodwill for impairment annually on the first day of its fourth fiscal quarter and at other times if events have occurred or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable.
+Added: Goodwill is tested for impairment at the reporting unit level.
+Added: The Company has one reporting unit, which is the consolidated company.
+Added: During the third quarter of fiscal 2026, the Company experienced a sustained decrease in the market price of its common stock resulting in the market capitalization being significantly less than the carrying value of the reporting unit.
+Added: This led the Company to determine that triggering events occurred, and a quantitative goodwill impairment assessment was performed during the three months ended August 31, 2026.
+Added: The quantitative impairment assessment consisted of estimating the fair value of the Company’s reporting unit using an equal weighting of the income and market valuation approaches.
+Added: The resulting fair value estimate was evaluated for reasonableness through a reconciliation to the Company's market capitalization.
+Added: The income approach applied a fair value methodology to our reporting unit based on discounted cash flows.
+Added: This analysis requires significant judgments and assumptions, including estimation of our future cash flows, which is dependent on internally developed forecasts, including future levels of revenue growth, and adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) margin, and determination of a weighted average cost of capital.
+Added: We also applied a market approach.
+Added: Under the market approach, we utilized a guideline public company method, which involves calculating valuation multiples based on financial data from comparable publicly traded companies and considerations of recent transactions in the technology industry.
+Added: Multiples derived from these companies and transactions provide an indication of how much a knowledgeable investor in the marketplace would be willing to pay for a company.
+Added: These multiples are then applied to the financial data for our reporting unit to arrive at an indication of fair value.
+Added: The market multiple was applied to adjusted EBITDA.
+Added: Determining the fair value of the Company’s reporting unit required significant judgments, estimates and assumptions.
+Added: The Company believes these estimates and assumptions are reasonable.
+Added: However, future changes in the judgments, assumptions, and estimates that are used in the impairment testing for goodwill, including discount and tax rates or future cash flow projections, could result in significantly different estimates of fair value.
+Added: As a result of these factors, and the impact of macroeconomic conditions, goodwill for our single reporting unit may be more susceptible to impairment risk.
+Added: As a result of the quantitative analysis performed, the carrying value of the Company’s reporting unit was determined to exceed its fair value, resulting in a non-cash goodwill impairment charge of $ 1,050,000 .
+Added: This charge was recorded within the impairment charge caption of the consolidated statement of operations for the three and nine months ended August 31, 2026.
+Added: No subsequent impairment indicators were identified.
+Added: No goodwill impairment charges were recognized during the three and nine months ended August 31, 2025.
+Added: The balance of goodwill immediately preceding the impairment charge was $ 3,686,667 .
+Added: The goodwill impairment charge is nondeductible for tax purposes.
+Added: The Company is required to provide additional disclosures about fair value measurements as part of the consolidated financial statements for each major category of assets and liabilities measured at fair value on a non-recurring basis (including impairment assessments).
+Added: The goodwill impairment was valued using Level 3 fair value inputs, which are unobservable by nature, and included internal estimates of future cash flows (income approach).
+Added: Significant increases (decreases) in any of those unobservable inputs in isolation would result in a significantly higher (lower) fair value measurement.
+Added: The following table summarizes the changes in the Company’s goodwill for the nine months ended August 31, 2026 and August 31, 2025:
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
Balance at beginning of period
+Added: Acquisition and acquisition-related adjustments
Assets held for sale
+Added: Impairment charge
+Added: ( 1,050,000 )
Foreign exchange translation
1 unchanged sentence
Intangible assets, net:
−Removed: The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of May 31, 2026 and November 30, 2025:
−Removed: As of May 31, 2026
+Added: The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of August 31, 2026 and November 30, 2025:
+Added: As of August 31, 2026
As of November 30, 2025
11 unchanged sentences
Fiscal years ending November 30,
−Removed: 2026 (remaining six months)
+Added: 2026 (remaining three months)
Accumulated other comprehensive loss:
The components of accumulated other comprehensive loss (“AOCL”), net of taxes, were as follows:
−Removed: Three Months Ended May 31, 2026 and 2025
+Added: Three Months Ended August 31, 2026 and 2025
Unrecognized gains (losses) on
4 unchanged sentences
adjustments and other, net of taxes
−Removed: Balances at February 28, 2025
−Removed: Other comprehensive income (loss) before reclassification
−Removed: Reclassification of (gains) losses from other comprehensive income (loss)
Balances at May 31, 2025
−Removed: Balances at February 28, 2026
Other comprehensive income (loss) before reclassification
−Removed: Reclassification of (gains) losses from other comprehensive income (loss)
+Added: Reclassification of gains from other comprehensive income (loss)
+Added: Balances at August 31, 2025
Balances at May 31, 2026
−Removed: Six Months Ended May 31, 2026 and 2025
+Added: Other comprehensive income (loss) before reclassification
+Added: Reclassification of losses from other comprehensive income (loss)
+Added: Balances at August 31, 2026
+Added: Nine Months Ended August 31, 2026 and 2025
Unrecognized gains (losses) on
6 unchanged sentences
Other comprehensive income (loss) before reclassification
−Removed: Reclassification of (gains) losses from other comprehensive income (loss)
−Removed: Balances at May 31, 2025
+Added: Reclassification of losses from other comprehensive income (loss)
+Added: Balances at August 31, 2025
Balances at November 30, 2025
Other comprehensive income (loss) before reclassification
−Removed: Reclassification of (gains) losses from other comprehensive income (loss)
−Removed: Balances at May 31, 2026
+Added: Reclassification of losses from other comprehensive income (loss)
+Added: Balances at August 31, 2026
Refer to Note 6—Derivative Instruments for the location of gains and losses on cash flow hedges reclassified from other accumulated other comprehensive loss to the consolidated statements of operations.
2 unchanged sentences
In the ordinary course of business, the Company is exposed to foreign currency risk and credit risk.
−Removed: The Company enters into transactions, and owns monetary assets and liabilities, that are denominated in currencies other than the legal entity’s functional currency.
+Added: The Company enters into transactions, and owns monetary assets and liabilities, that are denominated in currencies other
+Added: than the legal entity’s functional currency.
The Company may enter into forward contracts, option contracts, or other derivative instruments to offset a portion of the risk on expected future cash flows, earnings, net investments in certain non-U.S.
10 unchanged sentences
dollars may hedge a portion of forecasted revenue or costs not denominated in the entities’ functional currencies.
−Removed: These instruments mature at various dates through May 2028.
+Added: These instruments mature at various dates through August 2028.
Gains and losses on cash flow hedges are recorded in AOCL until the hedged item is recognized in earnings.
Deferred gains and losses related to cash flow hedges of foreign currency costs are recognized as a component of “Cost of revenue” or “Selling, general and administrative expenses” in the same period as the related costs are recognized.
−Removed: Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a
−Removed: subsequent two-month time period.
+Added: Derivative instruments designated as cash flow hedges must be de-designated as hedges when it is probable the forecasted hedged transaction will not occur in the initially identified time period or within a subsequent two-month time period.
Deferred gains and losses in AOCL associated with such derivative instruments are reclassified into earnings in the period of de-designation.
16 unchanged sentences
Balance Sheet Line Item
+Added: August 31, 2026
November 30, 2025
16 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
Locations of gain (loss) in statement of operations
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Derivative instruments designated as cash flow and fair value hedges:
30 unchanged sentences
The following table summarizes the valuation of the Company’s investments and financial instruments that are measured at fair value on a recurring basis:
−Removed: As of May 31, 2026
+Added: As of August 31, 2026
As of November 30, 2025
27 unchanged sentences
Changes in the fair value of this liability are recorded in other expense (income), net on the consolidated statement of operations.
−Removed: The effect of nonperformance risk on the fair value of derivative instruments was not material as of May 31, 2026 and November 30, 2025.
+Added: The effect of nonperformance risk on the fair value of derivative instruments was not material as of August 31, 2026 and November 30, 2025.
The carrying values of accounts receivable and accounts payable approximate fair value due to their short maturities and interest rates that are variable in nature.
2 unchanged sentences
The Company does not adjust the quoted market prices for such financial instruments.
−Removed: During the three and six months ended May 31, 2026 and 2025, there were no transfers between the fair value measurement category levels.
+Added: During the three and nine months ended August 31, 2026 and 2025, there were no transfers between the fair value measurement category levels.
NOTE 8— BORROWINGS:
Borrowings consist of the following:
+Added: August 31, 2026
November 30, 2025
Credit Facility - current portion of term loans component
−Removed: 6.650 % Senior Notes due 2026 (August)
Current portion of long-term debt
11 unchanged sentences
The Company used the net proceeds from the sale of the 2029 Notes, together with other available funds, to redeem $ 600,000 of its 6.650 % Senior Notes due 2026 (the “2026 Notes”), of which $ 800,000 aggregate principal amount was outstanding immediately before giving effect to such redemption.
−Removed: The Company recorded debt extinguishment costs of $ 6,268 associated with the early redemption of a portion of the 2026 Notes.
−Removed: These costs are included in interest expense and finance charges, net on the consolidated statement of operations for the six months ended May 31, 2026.
−Removed: There were no such costs in the six months ended May 31, 2025.
−Removed: On August 2, 2023, the Company issued and sold (i) $ 800,000 aggregate principal amount of the 2026 Notes, (ii) $ 800,000 aggregate principal amount of 6.600 % Senior Notes due 2028 (the “2028 Notes”) and (iii) $ 550,000 aggregate principal amount of 6.850 % Senior Notes due 2033 (the “2033 Notes” and, together with the 2026 Notes, 2028 Notes and 2029 Notes, the “Senior Notes”).
−Removed: The 2026 Notes, 2028 Notes and 2033 Notes were sold in a registered public offering pursuant to the Company’s Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023.
+Added: During the three and nine months ended August 31, 2026, the Company recorded debt extinguishment costs of $ 0 and $ 6,268 , respectively, associated with the early redemption of a portion of the 2026 Notes.
+Added: These costs are included in interest expense and finance charges, net on the consolidated statement of operations.
+Added: There were no such costs in the three and nine months ended August 31, 2025.
+Added: On August 3, 2026, the Company redeemed all $ 200,000 of the remaining aggregate principal amount of the 2026 Notes.
+Added: On August 2, 2023, the Company issued and sold (i) $ 800,000 aggregate principal amount of 6.600 % Senior Notes due 2028 (the “2028 Notes”) and (ii) $ 550,000 aggregate principal amount of 6.850 % Senior Notes due 2033 (the “2033 Notes” and, together with the 2028 Notes and 2029 Notes, the “Senior Notes”).
+Added: The 2028 Notes and 2033 Notes were sold in a registered public offering pursuant to the Company’s Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023.
The Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of August 2, 2023 (the “Base Indenture”), between Concentrix and U.S.
−Removed: Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by a first supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2026 Notes, a second supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2028 Notes, a third supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2033 Notes, and a fourth supplemental indenture dated as of February 24, 2026 between Concentrix and the Trustee relating to the 2029 Notes (such supplemental indentures, together with the Base Indenture, the “Indenture”).
−Removed: The Indenture contains customary covenants and restrictions, including covenants that limit Concentrix Corporation’s and certain of its subsidiaries’ ability to create or incur liens
−Removed: on shares of stock of certain subsidiaries or on principal properties, engage in sale/leaseback transactions or, with respect to Concentrix Corporation, consolidate or merge with, or sell or lease substantially all its assets to, another person.
+Added: Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by a second supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2028 Notes, a third supplemental indenture dated as of August 2, 2023 between Concentrix and the Trustee relating to the 2033 Notes, and a fourth supplemental indenture dated as of February 24, 2026 between Concentrix and the Trustee relating to the 2029 Notes (such supplemental indentures, together with the Base Indenture, the “Indenture”).
+Added: The Indenture contains customary covenants and restrictions, including covenants that limit Concentrix Corporation’s and certain of its subsidiaries’ ability to create or incur liens on shares
+Added: of stock of certain subsidiaries or on principal properties, engage in sale/leaseback transactions or, with respect to Concentrix Corporation, consolidate or merge with, or sell or lease substantially all its assets to, another person.
The Indenture also provides for customary events of default.
19 unchanged sentences
The Restated Credit Agreement also contains various customary events of default, including payment defaults, defaults under certain other indebtedness, and a change of control of Concentrix.
−Removed: As of May 31, 2026 and November 30, 2025, the outstanding principal balance on the Company’s term loans was $ 1,837,500 and $ 1,965,625 , respectively.
−Removed: During the three and six months ended May 31, 2026, the Company made required quarterly principal payments of $ 18,750 and $ 28,125 , respectively, on the term loans.
−Removed: In addition, during the three months ended May 31, 2026, the Company voluntarily prepaid $ 100,000 of the principal balance on the term loans, without penalty.
+Added: As of August 31, 2026 and November 30, 2025, the outstanding principal balance on the Company’s term loans was $ 1,818,750 and $ 1,965,625 , respectively.
+Added: During the three and nine months ended August 31, 2026, the Company made required quarterly principal payments of $ 18,750 and $ 46,875 , respectively, on the term loans.
+Added: In addition, during the nine months ended August 31, 2026, the Company voluntarily prepaid $ 100,000 of the principal balance on the term loans, without penalty.
None of Concentrix’ subsidiaries guarantee the obligations under the Restated Credit Agreement.
−Removed: As of May 31, 2026 and November 30, 2025, no amounts were outstanding under the Company’s Revolving Credit Facility.
+Added: As of August 31, 2026 and November 30, 2025, no amounts were outstanding under the Company’s Revolving Credit Facility.
Securitization Facility
10 unchanged sentences
Covenant compliance
−Removed: As of May 31, 2026 and November 30, 2025, Concentrix was in compliance with all covenants for the above arrangements.
−Removed: NOTE 9— EARNINGS PER SHARE:
−Removed: Basic and diluted earnings per common share ( “ EPS ” ) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security.
+Added: As of August 31, 2026 and November 30, 2025, Concentrix was in compliance with all covenants for the above arrangements.
+Added: NOTE 9— EARNINGS (LOSS) PER SHARE:
+Added: Basic and diluted earnings (loss) per common share ( “ EPS ” ) are computed using the two-class method, which is an earnings allocation formula that determines EPS for each class of common stock and participating security.
Three Months Ended
−Removed: Six Months Ended
−Removed: Basic earnings per common share:
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
+Added: Basic earnings (loss) per common share:
+Added: Net income (loss)
net income allocated to participating securities (1)
−Removed: Net income attributable to common stockholders
+Added: Net income (loss) attributable to common stockholders
Weighted-average number of common shares - basic
−Removed: Basic earnings per common share
−Removed: Diluted earnings per common share:
+Added: Basic earnings (loss) per common share
+Added: Diluted earnings (loss) per common share:
+Added: Net income (loss)
net income allocated to participating securities (1)
−Removed: Net income attributable to common stockholders
+Added: Net income (loss) attributable to common stockholders
Weighted-average number of common shares - basic
2 unchanged sentences
Weighted-average number of common shares - diluted
−Removed: Diluted earnings per common share
+Added: Diluted earnings (loss) per common share
(1) Restricted stock awards and certain restricted stock units granted to employees by the Company are considered participating securities.
+Added: (2) As a result of the Company’s net loss for the three and nine months ended August 31, 2026, the effect of stock options and other certain restricted stock units would be antidilutive.
+Added: As a result, they have been excluded from the diluted EPS calculation for the three and nine months ended August 31, 2026 .
NOTE 10— REVENUE:
2 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Industry vertical:
4 unchanged sentences
NOTE 11— RESTRUCTURING-RELATED EXPENSES:
−Removed: The Company recorded severance costs of $ 42,384 and $ 60,221 for the three and six months ended May 31, 2026, respectively, primarily related to the Company’s cost reduction initiatives.
+Added: The Company recorded severance costs of $ 31,429 and $ 91,650 for the three and nine months ended August 31, 2026, respectively, primarily related to the Company’s cost reduction initiatives.
These actions affected approximately 30,000 employees.
Severance costs were recognized in cost of revenue and selling, general and administrative expenses in the consolidated statement of operations based on the functions of the affected employees.
−Removed: Severance costs included in cost of revenue were $ 29,272 and $ 42,671 for the three and six months ended May 31, 2026, respectively, and severance costs included in selling, general and administrative expenses were $ 13,112 and $ 17,550 for the same periods.
−Removed: As of May 31, 2026, the remaining liability for these severance-related actions was $ 16,062 and was included in other accrued liabilities.
+Added: Severance costs included in cost of revenue were $ 27,874 and $ 70,545 for the three and nine months ended August 31, 2026, respectively, and severance costs included in selling, general and administrative expenses were $ 3,555 and $ 21,105 for the same periods.
+Added: As of August 31, 2026, the remaining liability for these severance-related actions was $ 18,804 and was included in other accrued liabilities.
The remaining cash payments are expected to be substantially completed by November 30, 2026.
−Removed: Severance costs recorded during the three and six months ended May 31, 2025 were not material.
+Added: Severance costs recorded during the three and nine months ended August 31, 2025 were not material.
NOTE 12— PENSION AND EMPLOYEE BENEFITS PLANS:
4 unchanged sentences
legal entities are covered by government mandated defined contribution plans.
−Removed: During the three and six months ended May 31, 2026, the Company contributed $ 31,918 and $ 65,986 , respectively, to defined contribution plans.
−Removed: During the three and six months ended May 31, 2025, the Company contributed $ 19,266 and $ 47,887 , respectively, to defined contribution plans.
+Added: During the three and nine months ended August 31, 2026, the Company contributed $ 34,961 and $ 100,947 , respectively, to defined contribution plans.
+Added: During the three and nine months ended August 31, 2025, the Company contributed $ 32,903 and $ 95,131 , respectively, to defined contribution plans.
Defined Benefit Plans
4 unchanged sentences
Benefits under these plans are primarily based on years of service and compensation during the years immediately preceding retirement or termination of participation in the plans.
−Removed: Net benefit costs related to defined benefit plans were $ 8,228 and $ 13,007 , during the three and six months ended May 31, 2026, respectively.
−Removed: Net benefit costs related to defined benefit plans were $ 3,827 and $ 7,710 , during the three and six months ended May 31, 2025, respectively.
+Added: Net benefit costs related to defined benefit plans were $ 5,904 and $ 18,911 , during the three and nine months ended August 31, 2026, respectively.
+Added: Net benefit costs related to defined benefit plans were $ 3,510 and $ 11,220 , during the three and nine months ended August 31, 2025, respectively.
Service costs are recorded in cost of revenue and selling, general and administrative expenses, while the remaining components of total pension costs are recorded within other expense (income), net in the consolidated statements of operations.
−Removed: On an aggregate basis, the plans were underfunded by $ 102,775 and $ 81,064 at May 31, 2026 and November 30, 2025, respectively.
+Added: On an aggregate basis, the plans were underfunded by $ 101,582 and $ 81,064 at August 31, 2026 and November 30, 2025, respectively.
NOTE 13— INCOME TAXES:
Income taxes consist of current and deferred tax expense resulting from income earned in domestic and international jurisdictions.
−Removed: The effective tax rates for the three and six months ended May 31, 2026 and 2025 were impacted by the geographic mix of worldwide income and certain discrete items.
−Removed: The liability for unrecognized tax benefits was $ 78,068 and $ 95,034 at May 31, 2026 and November 30, 2025, respectively, and is included in other long-term liabilities in the consolidated balance sheets.
−Removed: As of May 31, 2026 and November 30, 2025, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $ 78,068 and $ 88,130 , respectively.
+Added: The effective tax rates for the three and nine months ended August 31, 2026 and 2025 were impacted by the geographic mix of worldwide income and certain discrete items.
+Added: The liability for unrecognized tax benefits was $ 74,127 and $ 95,034 at August 31, 2026 and November 30, 2025, respectively, and is included in other long-term liabilities in the consolidated balance sheets.
+Added: As of August 31, 2026 and November 30, 2025, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $ 74,127 and $ 88,130 , respectively.
This amount includes net interest and penalties of $ 10,820 and $ 12,860 for the respective periods.
6 unchanged sentences
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Operating lease cost
3 unchanged sentences
Total operating lease cost
−Removed: The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of May 31, 2026:
+Added: The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of August 31, 2026:
Fiscal Years Ending November 30,
−Removed: 2026 (remaining six months)
+Added: 2026 (remaining three months)
Total payments
4 unchanged sentences
Balance Sheet location
+Added: August 31, 2026
November 30, 2025
Operating lease ROU assets
+Added: Operating lease right-of-use assets, net
Current operating lease liabilities
4 unchanged sentences
Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
Cash paid for amounts included in the measurement of lease liabilities
Non-cash ROU assets obtained in exchange for lease liabilities
−Removed: The weighted-average remaining lease term and discount rate as of May 31, 2026 and November 30, 2025 were as follows:
+Added: The weighted-average remaining lease term and discount rate as of August 31, 2026 and November 30, 2025 were as follows:
+Added: August 31, 2026
November 30, 2025
13 unchanged sentences
The repurchase program has no termination date and may be suspended or discontinued at any time.
−Removed: During the three months ended May 31, 2026, there were no repurchases of the Company’s common stock under the share repurchase program.
−Removed: During the six months ended May 31, 2026, under the share repurchase program, the Company repurchased 1,081 shares of its common stock for an aggregate purchase price of $ 43,194 .
−Removed: During the three and six months ended May 31, 2025, under the share repurchase program, the Company repurchased 924 and 1,464 shares, respectively, of its common stock for an aggregate purchase price of $ 45,328 and $ 71,174 , respectively.
+Added: During the three months ended August 31, 2026, there were no repurchases of the Company’s common stock under the share repurchase program.
+Added: During the nine months ended August 31, 2026, under the share repurchase program, the Company repurchased 1,081 shares of its common stock for an aggregate purchase price of $ 43,194 .
+Added: During the three and nine months ended August 31, 2025, under the share repurchase program, the Company repurchased 783 and 2,247 shares, respectively, of its common stock for an aggregate purchase price of $ 41,600 and $ 112,774 , respectively.
The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes.
−Removed: At May 31, 2026, approximately $ 396,602 remained available for share repurchases under the existing authorization from the Company’s board of directors.
+Added: At August 31, 2026, approximately $ 396,602 remained available for share repurchases under the existing authorization from the Company’s board of directors.
During fiscal years 2026 and 2025, the Company paid the following dividends per share approved by the Company’s board of directors:
17 unchanged sentences
April 24, 2026
−Removed: On June 29, 2026, the Company announced a cash dividend of $ 0.36 per share to stockholders of record as of July 24, 2026, payable on August 4, 2026.
+Added: June 29, 2026
+Added: July 24, 2026
+Added: August 4, 2026
+Added: On September 29, 2026, the Company announced a cash dividend of $ 0.37 per share to stockholders of record as of October 23, 2026, payable on November 3, 2026.
NOTE 17— SEGMENT REPORTING:
2 unchanged sentences
The CODM uses consolidated net income and operating income to assess financial performance, allocate resources, and make key operating decisions.
−Removed: The following table presents selected financial information, including significant segment expenses, with respect to the Company’s single operating segment for the three and six months ended May 31, 2026 and 2025.
+Added: The following table presents selected financial information, including significant segment expenses, with respect to the Company’s single operating segment for the three and nine months ended August 31, 2026 and 2025.
Three Months Ended
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: August 31, 2026
+Added: August 31, 2025
+Added: August 31, 2026
+Added: August 31, 2025
Cost of revenue (1)
3 unchanged sentences
Amortization of intangible assets
+Added: Impairment charge
Loss on held for sale
Depreciation expense
−Removed: Operating income
+Added: Operating income (loss)
Interest expense and finance charges, net
1 unchanged sentence
Provision for income taxes
+Added: Net income (loss)
(1) Exclusive of depreciation expense and acquisition-related, integration and restructuring expenses.
−Removed: (2) Exclusive of loss on held for sale, depreciation expense, amortization of intangible assets, acquisition-related, integration and restructuring expenses, and share-based compensation expense.
−Removed: For the three and six months ended May 31, 2026, acquisition-related, integration and restructuring expenses primarily included restructuring costs associated with the Company’s recent cost reduction initiatives, including severance and employee-related costs.
+Added: (2) Exclusive of impairment charge, loss on held for sale, depreciation expense, amortization of intangible assets, acquisition-related, integration and restructuring expenses, and share-based compensation expense.
+Added: For the three and nine months ended August 31, 2026, acquisition-related, integration and restructuring expenses primarily included restructuring costs associated with the Company’s recent cost reduction initiatives, including severance and employee-related costs.
Restructuring expenses also included costs associated with facilities consolidation, including lease terminations.
−Removed: For the three and six months ended May 31, 2025, acquisition-related, integration and restructuring costs primarily included integration costs associated with the combination with Webhelp and restructuring expenses.
+Added: For the three and nine months ended August 31, 2025, acquisition-related, integration and restructuring costs primarily included integration costs associated with the Company’s combination with Marnix Lux SA (“Webhelp”) and restructuring expenses.
These costs primarily included severance and employee-related costs, costs associated with facilities consolidation, including lease terminations to integrate the businesses, and information technology system consolidation costs.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.