Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. If you get hired as a CSR remote employee, will they provide equipment prior to the start date? Timing of revenue impact varies and may not be realized within the forward 12-month timeframe. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. Answered October 25, 2017. We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. 294 0 obj <> endobj Other charges (credits). FLORHAM PARK, N.J., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a global technology-led business process solutions company, today announced its third quarter 2022 financial results. All statements other than statements of historical fact included in this press release are forward-looking statements, including, but not limited to, statements regarding our financial results, condition and outlook; changes in our operating results; general market and economic conditions; our transformation progress; Our ability to outrun the one-time government stimulus volumes that benefited 2021 and to demonstrate growth; and our projected financial performance for the full year 2022, including all statements made under the section captioned FY 2022 and 2023 Outlook within this release. Connect with an expert. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). %PDF-1.5 Timing of revenue impact varies and may not be realized within the forward 12-month timeframe. In addition, all statements regarding the proposed separation of the Transportation business, the anticipated effects of the novel coronavirus, or COVID-19, pandemic and the responses thereto, including the pandemics impact on general economic and market conditions, as well as on our business, customers, and markets, results of operations and financial condition and anticipated actions to be taken by management to sustain our business during the economic uncertainty caused by the pandemic and related governmental and business actions, as well as other statements that are not strictly historical in nature, are forward looking. <> These are sites and strategies that will yield the user minimum wage or better and allow them to provide for themselves. No work phone, you won't need it. Conduent delivers mission-critical services and solutions on behalf of businesses and governments creating exceptional outcomes for its clients and the millions of people who count on them. We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, which can be dependent on future events that may not be reliably predicted. endobj Full year 2021 revenue of $4,140M was substantially unchanged versus prior year, benefiting from strong non-recurring stimulus payments volume in our Government Services business and new business ramp across all segments, offset by lost business from prior years. This metric excludes COVID-related volume impacts and non-recurring revenue signings. The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method. but never sends them. We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. 261 0 obj <>stream Sales performance was up 32% in new business TCV signings at $464M, with new business ARR up 14% at $107M versus Q1 2021. Answered July 30, 2018 - Program Director (Current Employee) - Naperville, IL. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: the significant continuing effects of the ongoing COVID-19 pandemic on our business, operations, financial results and financial condition, which is dependent on developments which are highly uncertain and cannot be predicted; government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; risk and impact of geopolitical events, natural disasters and other factors (such as pandemics, including coronavirus) in a particular country or region on our workforce, customers and vendors; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to comply with data security standards; changes in tax and other laws and regulations; risk and impact of potential goodwill and other asset impairments; our significant indebtedness; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to receive dividends or other payments from our subsidiaries; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; conditions abroad, including local economics, political environments, fluctuating foreign currencies and shifting regulatory schemes; changes in government regulation and economic, strategic, political and social conditions; changes in the volatility of our stock price and the risk of litigation following a decline in the price of our stock; the impact of the ongoing COVID-19 pandemic; and other factors that are set forth in the Risk Factors section, the Legal Proceedings section, the Management's Discussion and Analysis of Financial Condition and Results of Operations section and other sections in our 2020 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Non-GAAP Reconciliations: Adjusted Weighted Average Shares Outstanding, Adjusted Diluted EPS, Adjusted Effective Tax Rate, Adjusted Operating Margin and Adjusted EBITDA Margin were as follows: (1) Average shares for the 2022 and 2021 calculation of adjusted EPS excludes 5.4 million shares associated with our Series A convertible preferred stock and includes the impact of preferred stock dividend of approximately $2 million and $2 million for the three months ended March 31, 2022 and 2021, respectively. The Net ARR Activity Metric for Q4 2021 was strong at $128M, up 113% versus Q4 2020 and continues to be positive for the fifth consecutive quarter. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied herein as anticipated, believed, estimated, expected or intended or using other similar expressions. (3) Normalized for the impact of payment of deferred payroll taxes primarily related to the CARES Act of $32M in 2021 and $27M in 2022, Adjusted Free Cash Flow as a percentage of Adjusted EBITDA for 2021 is approximately 25% and approximately 22% in 2022. The tax effect of the non-GAAP adjustments was calculated based upon evaluation of the statutory tax treatment and the applicable statutory tax rate in the jurisdictions in which such charges were incurred. When you join Conduent, you are engaged in creating the future both our companys and your own. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Companys reported results prepared in accordance with U.S. GAAP. 321 0 obj <>stream The words anticipate, believe, estimate, expect, "plan," intend, will, aim, should, could, forecast, target, may, "continue to," "if, growing, projected, potential, likely, and similar expressions, as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. (1) All amounts are net of tax. HR leaders should also consider new digital behavioral tools (such as online cognitive therapies and self-help resources) and also plan for virtual open enrollment this year. Stateside blog, 2020 State and Local Government Responses to COVID-19, July 2020 Litigation costs (recoveries), net represents provisions for various matters subject to litigation. We refer to this adjusted revenue as constant currency. Currency impact is determined as the difference between actual growth rates and constant currency growth rates. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. FLORHAM PARK, N.J., May 03, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its first quarter 2022 financial results. The telephone recording will be available until March 2, 2022. The replay ID is 13725756. Abandonment of Cloud Computing Project. Ultimately, CXM is about the ability to demonstrate that you can deliver optimal value to customers and extract optimal value from those interactions. A place to talk about making an income online. We also internally use these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. WIC authorized retailers using the Conduent's Stand-Beside Point of Sale (POS) equipment to process . I' was born in Nuernberg . We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise. endstream endobj startxref In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. Projected Annual Recurring Revenue for contracts signed in the prior 12 months, less the annualized impact of any client losses, contractual volume and price changes, and other known impacts for which the company was notified in that same time period, which could positively or negatively impact results. IF YOU HAVE ANY CONCERNS ABOUT COMMUNICATIONS FROM RECRUITERS CLAIMING TO BE FROM CONDUENT, PLEASE DONT HESITATE TO VERIFY BY CONTACTING CONDUENT HR AT: RECRUITMENTFRAUD@CONDUENT.COM. This metric is not indicative of any specific 12 month timeframe. Through our dedicated people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. Learn more now. 6) Accelerate workforce transformation We use Free Cash Flow as a measure of liquidity to determine amounts we can reinvest in our core businesses, such as amounts available to make acquisitions and invest in land, buildings and equipment and internal use software, after required payments on debt. He got a better offer and no longer wants to work with Conduent. Space where no one can see your work station that is quiet and private. Conduents differentiated services and solutions improve experiences for millions of people every day, including three out of every four U.S. insured patients, 10 million employees who use its HR Services, and nearly 18 million benefits recipients. endstream endobj startxref Conference Call 4. In accordance with the provisions of the Litigation Reform Act, we are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make. Interest expense includes interest on long-term debt and amortization of debt issuance costs. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Answered November 21, 2017 - BGCO agent (Current Employee) - Colorado Springs, CO. Not really. Management cautions that amounts presented in accordance with Conduent's definition of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similar measures disclosed by other companies because not all companies calculate Adjusted EBITDA and Adjusted EBITDA Margin in the same manner.
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