CNXC - Earnings call transcript Q4 2024

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Operator

Good day, and thank you for standing by. Welcome to the Concentrix's Fiscal Fourth Quarter FY 2024 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Sara Buda, Vice President, Investor Relations.

Sara Buda

Terrific. good and operator, you, evening. Thank Concentrix Welcome Earnings and XXXX Quarter to the Call. Fiscal Fourth is Concentrix matters of This be property by our the call of and performance uncertain. rebroadcast forward-looking that that, the expected contains future recorded nature, and without written are call permission address Concentrix. This their statements address that or not may statements. to those expressed than uncertainties These materially be may cause our different our future forward-looking results in information or do undertake new a update result forward-looking developments. our as expectations, not statements future We to or events of refer filings to affect additional uncertainties today's most Please earnings release could with information our and that our recent results. for future financial the SEC regarding the risk net revenue including non-GAAP Form provided other EBITDA operating with flow, our free call, includes our annual adjusted margin, discuss non-GAAP during income, cash EPS, growth. income, constant filings factors non-GAAP non-GAAP financial we XX-K the adjusted non-GAAP will measures, and margin, report on currency operating public and EBITDA, This SEC. Also adjusted in the of on A CEO; Chief me release Investor Financials. With under these the Andre are and Caldwell, our Officer. Relations and website our the news Valentine, available and Chris President on in call Financial company's reconciliation today the measures is non-GAAP of summary will provide and results and growth strategy, will operating Chris a cover business our performance outlook. Andre and financial our the Then we'll call open up for your questions. turn And to call now the I'll Chris. over

Christopher Caldwell

and for year us joining you today everyone, fourth thank call. XXXX earnings fiscal Sara. quarter our Hello, and Thank you, for

to in we in believe Before confident might at our over continue growth how XXXX into will few the evolved years. we details look profitably show is to mid-single-digit grow are it be business helpful get why the achievable and we think years results, later our that to of has I past

offerings keeping underlying GenAI have stated our by mainstream, to business areas intent while de-investing be in into GenAI started have since last examples we years commodity our to executed the taking focus and and expanding on advantage new work. with we As X of over many provided healthy

of the client rate a more As XXXX. we XXX, high have of result, Fortune retention in global clients, including approximately fiscal XX% with XXX extremely than X,XXX revenue

defensible means clients' market the of solutions have market provider a and scale, business This our our success. evolving that clients. to technologies a leadership address position built we power integrated and of broaden needs have We as the our technology-led capabilities

top XX tenure an brands, of global us. are XX with which leading years all average Our clients, over have

expand innovating faster our Our revenue introduce them. with ancillary grow these our as value while automating share our and of to grow business clients top than rest services we to continues and solutions complementary the for and work

In solutions fact, of scale new is months revenue ago. Concentrix in nearly business that from didn't our $X derived our XX XXXX in exist at billion

and and Solutions cybersecurity, and crimes with our products, -- analytics, revenue fiscal combining enablement, from such now data AI design financial BXB are as today commercial offerings deployment, our mid-single even digits now XXXX. grew data above sales in annotation, modeling, compliance software these available

we revenue well. services roughly is and have Catalyst offering, represents our also which growing total X% Additionally, IT of

this our a emerged as also proactively have we the it source continue this to imperative, to transactions consistently business X expect to business fiscal opportunity as complexity evolved to differentiation. XXXX. As percentage we related use And reduced ago low further of services finally, have take as as we XX% reduce grown and today of ancillary to in these years grown AI and we a of X% business percentage have and our advantage from

are of scale that larger of are half AI of AI world. the one deployments generative our confident in autonomous, digital that tens we of own at saying desktops clients, with approximately and we our technology across with XXX,XXX fact, thousands operations deployments GenAI, In using of workers in the have

revenue of these the grow clients to large technology have pipeline clients, particularly our a integration, that we will Webhelp deploy are and completed fiscal in XXXX. our have we as faster new encouraged we we that Europe with in found have technology as deploy we We who

focused into the AI opportunities as business, AI we market of to for on create take using erroneous headwind the tailwind, have turned better. a a traditional our our advantage to perception While making while generative new it business

revenue of low-value enhancing providers building and last we with have reduced delighted We spend throughout internal on our case our our their productivity. In their designing automation and innovated while adapted continues doing our am case journey total of operations our I and numerous with the as clients today. history evolving reducing through This needs. they revenue lead has have we unlock as sources examples the us. have to we and new to given fewer increasing from for made transactions calls few to progress how AI their consolidate deploying so, clients' cost clients' address to we our been the be and

our in business for the globe. year. our as expectations a and first leadership valuation X and team, align every disconnect X over local valuation, let this and year XXXX that aligning and Velocity, to of the We our give company, delivery position. With XXXX. details between public client value of fundamentals backdrop, a around ensuring of more underlying and cultures strength scale sales, our call growth most global see our context me achievements for our view will around We the financials Webhelp Andre, a distinguished of our and within confident Concentrix. who unique for then execute on location with delivered our team relevance we operations can we with today important our marketing, market was strategy, you the market my I'll every provide we aligned our am outlook. XXXX integrated multiyear the While clear expertise our remarkable with I turn as consistently and

with beyond. We in and technology a leading of going technology delighted the complete, both wins with to integration our secured and our pipeline continues key say showing number partners, synergy own ongoing XXXX to from are strong be benefits transformative into We Webhelp now and is in XXXX, XXXX. net through

in have well generating for and our revenue all, a solid IX broader first to business financial expansion included relationship ITO technology, of we in leadership, year with a will and expanding in believe organization commercial We with results, drive strong and our partners. our service most our product And sector GenAI strong delivered BPO cash made enhancing founding strong suite. All This us margin win products allow that XXXX growing have was free prudent tools AI flow. new future. the with peers software while and the ahead investments We growth we in Concentrix.

to their want, clients invested that is technology the drive providers our into sustainable future. excited do what We me most business advantage global fundamental take into we to growth meet place can to more have take what of the strong capabilities gets needs. But and evolved that put scale fewer and more platform

XXXX, For me be let very clear.

our down We and debt. grow our our margin, to expect non-GAAP flow while revenue, operating paying free cash

technology from to the business. We'll our will companies relationships on GenAI and and offering base that capabilities by excellence Google our our we fuel and design-build-run Microsoft, to power their to our our Salesforce, solutions the business innovative in our success. broad-based solution while both expand And We like clients' business. to low key client domain our demonstrate the leading transformation continue and offer process continue order value best of own combining secure complexity Concentrix, AI-led of for our will decreasing others expand wins technology of solution expertise new demonstrating top

the world to excellence we power we for become business. I'd our in their about a excited like trust the world's dedicated most and years changers business works. that to for clients and that hard what their ahead, look our to are technology As and our into commitment their game journey I thank trusted partner and am for work solutions

Now the Andre. call I'll over turn to

Andre Valentine

We delivered productization paydown and significant proactively a XXXX. our our With enter clients thank results diversified while basis, for increasing program guidance which diversify Chris, and the of and for XXXX. behind QX, our We was to We range. revenue a is of through leverage And Well, of invested commercialization repurchase developed we constant at year. in increasing integrated our into of details financial our let flow. forma delve outlook for XXXX a set our and the end of offerings. With driving XXXX share while us, achievement successful me I'm our service ERP value our In through a to in of continued we culminating that, internally of currency at X.X% billion, as reduced and year debt strong confident we the plan, intentionally pro the quarter everyone. position Webhelp the strategically, fiscal cash our the of approximately hello, of $X.XX dividend. on fourth products high and in growing September end our discuss then business fiscal broaden migration XXXX you, operational system the financial ahead Concentrix. and

Looking X% growth almost vertical. financial continuation been grew with currency growth this fourth year-over-year, vertical, banking, the a quarters on and retail, clients services grew a prior clients revenue pro X%, relatively we've in insurance quarter constant at basis, forma by consistent and our travel revenue Revenue year. e-commerce of solid from this seeing from

This from pro continue and slight communications decrease revenue in give for offset media in from forma clients increases decreased reflects partially us by and decreases clients. wins confidence the us. Revenue strong recent pipeline media quarters remain prior North a from a clients, year. a will communications on American Our improvement vertical this to ongoing X% with few basis,

consumer our pro clients health from X% did and electronics basis, in care technology revenue constant clients a on decreased currency vertical. Our as also forma the

Turning to profitability.

provided net our income EPS EPS GAAP of quarter year, the a and for range in of $X.XX $X.XX. was $XXX was all Our related quarter, fourth QX the quarter. shift measures release. of was net million non-GAAP of operating increase some shore earnings a decrease million call. last the half we increased operating and upfront Reconciliations guidance of compared $XXX Adjusted in are margin diluted spend, we last an EBITDA QX, and top the $XXX transformational income and to GAAP provided $XXX Non-GAAP about in due income last to today's million in technology was XXXX, on the in per GAAP that was to diluted was was from for million, margin quarter non-GAAP wins, investments non-GAAP our XX.X%. Non-GAAP quarter duplicate discussed share. $X million, income in XX.X%, accelerated which primarily costs our

cash XXXX, our flow was prior for $X.XX million. year was year free Non-GAAP full range grew billion, on above and currency end guidance basis, was the peers. at OI XX.X%. ago many margin we high at operating of Looking a pro year over X.X% Non-GAAP basis. $XXX results pro provided slightly on a a the we constant up the forma forma Adjusted

Our free cash costs returned flow included integration synergies to $XXX generate in increased XXXX. We shareholders. fiscal approximately to spending on million

average million during repurchased the our million at Specifically, fourth equivalents year. quarter, cash to shares, at by year-end. approximately million by to dividends an $XX.XX reduced bringing representing million factoring And and debt million our approximately $X.XXX we was off-balance share. year net end million, of net receivables and further obligation shares X.X price $X.XXX year-end. At and the $XX our we the billion cash paid $XXX to per the our approximately $XXX sheet the were $XXX $XX total related of million $XXX debt we during reduced billion, during common year, debt We of in at

billion approximately at this, the on is for $X $X.X now remains our over Our our talk outlook strong about line me which undrawn. With first of billion, and XXXX quarter. liquidity let credit including

and growth XXXX in the them mentioned, while and as And scale our us of meet exciting year; offer help are of we our on needs; affect we for the from offerings embrace following: share as revenue seek broaden business that because needs the our while to adopt incremental capabilities as that the their as experience excellence, they First, companies, address an on to consolidate business we AI growth it to evolving outsourcing won security with and in deliver XXXX macro can has that all ensuring will to and as services spend reimagine our continues we partners clients clients. in stability. customer gains throughout expect ramp the their we data business with journey business Chris largest business, based to continued clients

past the several as of to always, clients' by countries drivers complexity from the continued will over be macro As effect we of automation proactive movement balanced delivery continue years. intentionally underlying seen we've these as to growth migrate businesses, our on away business, lower-cost the our and low

Turning to margins.

software free future year. expect adjusted development with balance to slightly our uptick adjusted the EBITDA spending on to growth. by of We cash flow for lower and non-GAAP interest operating expense. With we million $X.XX expect synergy income the $XXX investments million savings integration context, lower to finally, in our year We savings, year grow XXXX throughout this billion follows: billion. And power full do margins we $XXX to and revenue is between as course the guidance $X.XX our reported to synergy decrease and costs as of to expect product full driven

implies in $X.XX point guidance to be per share interest billion. $XX.XX million, X% income net a be of and rates, approximately of XXX share, to of approximately assuming tax EPS $XXX approximately foreign approximately attributable The growth long-term on our million is the impact full strategy, non-GAAP compared $XX.XX per an X% of to XX.X%. And the the share income Based expected to is confidence $X.X for X.X%. in authorization a currency range signal range range is of participating shares $XXX constant securities. effective assumes with Our expected be refreshed of common operating to current revenue of has million. to rate billion growth finally, Non-GAAP diluted in expense our exchange in to rates XXXX. Non-GAAP to our outstanding repurchase basis XX.X% XX.X as exchange a year Board negative to expected expectation

modestly what committed to year believe in closer XXXX, move the investment-grade dividend. repaying remain continuing XXXX target is We extreme to ratio, exceed we our fiscal of our and to our the spending fundamentals expect business valuation. maintaining our our on between current of advantage We pace leverage support our taking disconnect and debt the fiscal to repurchases principles, to

to interest a in the of in million, the expect of X.XX%. income share expected billion rate between range common currency $X.XXX quarter, participating effective the to of revenue operating million be $XXX to non-GAAP assuming securities. approximately expected expense X% $X.XX reported and constant is per $XXX of first to income billion, is be we of X% tax outstanding Non-GAAP implying million. approximately EPS share, is XX.X%. shares approximate first net to Non-GAAP diluted revenue attributable rate The For to growth $X.XX $X.XX per to XX.X to expected XX.X% million to $XX quarter

as the the free strong expect quarters first As QX, be negative the adjusted to followed in by prior years, we compared cash quarter year's last remaining cash to flow improved although year. in consistent flow over generation of

flow acquisitions cash guidance our business and do of a not growth taking outlook we are currency for any and from believe business conservative include fluctuations. We remain the confident in Our impacts expectations or XXXX. future foreign the in position future

As market we look XXXX, back our delighted on with position. we're

that the established is and road a position through technology us solutions combination investments of expanded combination revenue and our position streams. We We upside margins to commitments steadfast value line continued revenue generative please solutions. and and expansion, the us future-proof spectrum term by long driving cash and right for and strategically about through return the while shareholder have right With across value dividends. the offerings intentionally We capital flow. Josh, believe long-term making drive structure, new We've for and our a capital in the open in AI ahead. transformational we growth market the of and margin our growing questions. repurchases We're of have to remain business excited having the that, share our programs allowing large of business opportunity portfolio a clients to of are broadening leadership embraced and clear in to win the

Operator

[Operator Canaccord question Instructions] Vafi comes Genuity. Joseph Our with from first

Joseph Vafi

maybe in Nice your incremental fronts. down to a to volume Appreciate and see of drill on progress gains I business the first lot on just the thought we'd discussions outlook. wins, share switching revenue of kind more outsourcers. on revenue

any then And change mentioned -- onshore I could many going was in Just have work offshore, wondering comprise on-site if that continue provide if may a then delivery a on know quick follow-up. perhaps decline. I wanted I input And that also on of XXXX. coming to headwind or to some how revenue you from cetera? less complex kind mix commentary get also of some the points from to perhaps geographic to you there's headwind was et

Christopher Caldwell

Joe. for Yes, sure,

So a couple of things.

Let's start X with the last first.

of terms Eastern In are seeing into headwinds, from geo shift we and revenue Europe and that Europe. Africa

we little America. issue with a had talked where health certainly We We see are clients. North a that programs some bit care delivery continuing Cost that going to big from for offshore. is about

to of as headwind of about expect And of growth little continue. Similar will last bit we've kind work of so offshoring we in while. that the talked point, what a that,

In of down, expectation into last X% percentage another we've with, XXXX that will that, stuff would over going get to continue the to going X transaction that to that you'll not year good terms by that and what course is that so a business job not in of of that. that down. the we're There's to that falls of any and happy very range. our automate really low-value X% done kind But lower of the add always growing drive we down sort after

think look business to type So down looking X% our at you what X% of we're as our of is expectation of if we going XXXX of that at. just and headwind

Joseph Vafi

I maybe some were I then transformational of detailed indicated know a quarter, finance there. believe, to last large upfront going there that where a more win, you costs update. the you And Great. was of

contribute to of an how progress those when of the revenue start kind and P&L may types may of on reverse kind XXXX. and update in they Just they transactions, and generating

Christopher Caldwell

Yes.

Joe. sure, For

the in really see then we'll meaningful. revenue XXXX, QX it's generate the to really quarter be costs to it we and half to third too the but some are will the in QX, that costs fourth well, revenue more back large sort some that running but start deal of There's upfront more had it's year. of to not of and of transformational much the some So for outside in start through, on

just to We revenue transformational but of year. deals you'll and have through, number smaller The but one. QX, not move the of little deals back And frankly, tend then done a seeing see sort transformational across to move you're that size forward start, take that of large the requirement across, longer deal. deals done not generating with that relative to it. QX we work that and transformational have build to start any within platform saw half in they'll QX a more again, the out the to very we because large we capital the X have of drive upfront But

Operator

from question next Dave comes Baird. Our Koning with

David Koning

spend takes again." to that companies "Hey, more there's Great all, say, shift to bit. less, through little are look reinvest a you're then tightened of to to talk less we businesses enough back? is whole and somebody push of maybe having, time? consumers BPO bunch wanted back? just or starting that QX. on there a bots finally IT, consumers, We as to and getting starting the while go first point across are phone. And getting belt kind consumer couple Are when businesses a to just lower last their of really longer of the take pushback And we here, want to we in or time that. need years, handle CX the to Is that service that have pushback to We we're get to extra not we see where in outsource have to because starting But

Christopher Caldwell

of state high question. we're affairs don't compare auto. electronics, see in a a industries. that's but consumer in from in of We interesting it pushback for bar is of it can see there's some bit Yes, sad it high-value generally maybe people see in certain what seeing. that's telecom for we a enough We the We Where instance because that see one actually no in or very in instance, to, raising see really goods. do that kind it consumers We BFSI. the

that to that there do drives And kind outsourced tech a differentiate generally, we separate XXXX, in kind outsourcing in differentiate And better of seeing in where be and so rebounds that more combined manner customer that. try of to outsourcing an that companies most they're relationship. think and a experience. hopefully, some more probably want really And power, human their likely, think human lot a purchasing be we're We offering, businesses see what will really as they're is of will will consumer doing involved they're and more. the I it in

David Koning

point. back in only of great know context hear. I in to then get maybe which expect back And from in at my anything we're indicated would to environment a Yes, time call that that? X, of say, that you pipeline seeing frame to indications kind the that's that a around -- you're that. the digits some mid-single the beginning you follow-up. quarters demand maybe there the or to of that? hey, kind Are Just there we're little X, X Is

Christopher Caldwell

And look Yes, other talk you growing what growing then out sure. simply we of the of business, number of we just high called when that the Catalyst have I range. and you roughly within sort single in opening capabilities that take mean, which digits, we in our that billion comments $X is business a the about talked if growing for about range. business within you at

are see mark. billion growing we that above that that's few At can You dollars. at scale, scale, right, a single-digit

we So be down to not on when need the do clearly, about because work to our We kind our math, you we we we it's talk that, that some but the -- to work. to that of do? if we focus overhang we automating get that And what years do lower-value within years. to we work have need business. continue so tend other need don't multiple win continue done more at do to can bringing We faster of

we can we thereafter. something what continue and shortly that's able that should we to to getting achieve is drive, Our want to out if of that be XXXX then drive expectation

Operator

Our next of Ruplu with comes question from Bank America. Bhattacharya

Aisling Grueninger

for This Chris. some is potential should how about talked about is how think large you're digital question year-over-year we deals was is on or this in fiscal business revenue first your just you've And growth Catalyst CX for pursuing? the 'XX Aisling about talk trending? growth My What quarter? Ruplu. since Can you

Christopher Caldwell

Yes.

our So Catalyst implementations. mid- There's growing is our well. continue consider being talked doing single-digit which growth to business We course very of and X% more business, as talked it very, high partner through to roughly we the it well, we some about you fluctuation add that about year. of the in

that's to overall adding Our kind it's the we're base. to relationships client going technology. one a value lot with we're implement and continue within our expectation is what it's we It's areas more happy with And of growing more finding and as of what grow. it, bigger our quite to of

Aisling Grueninger

versus One buybacks? M&A for how the for and around Andre. business Can you you color help. any just reinvesting that talk cash versus balance about Just fiscal priorities in would 'XX in

Andre Valentine

it. do to happy Sure,

left and to as and having free as confident the we So debt what to we that, capital cash been really over business cash that foremost, growing first the then and free feel and down pay doing, to in doing continue shareholders. is organically will the investing continue in us opportunity give which have XXXX in our flow to the obviously, well return flow generation

period our in this more, the underlying repurchased in my of between continue during for repurchases and that there's business, than $XXX valuation share commentary, we'll increasing in year be what we buy fiscal we'll said a modestly certainly more us, we we've confidence fundamentals like disconnect up authorization shown great the So where 'XX. our share we'd in In feel I buyback. about back the million. We've that said slightly has active to Board feel the

did can be. share we out flow, than priorities you the that strong $XXX So cash will slightly repurchases kind this year. free Generate the from million more of figure the what that

again do Our the XX% dividend to was like We year, down that our move debt ratio. increased And million then remainder left by past -- might leverage the each year. closer we've it move closer to past this that with year. $XX targeted to this to to in pay

Operator

comes from Our next Scotiabank. question with Divya Goyal

Divya Goyal

this that growth the confident further if Chris, sustainability could basis? how the mid-single digits here. And wanted we about us should help understand growth company terms talk the understand these to bleak help how I could demand environment potentially a you you revenues? standpoint? expect from a get should revenue of XXXX. the talking How for Obviously, fiscal So grow margins even say, go-forward the of to in us could -- returning the we're is about also potentially to, should or market on

Christopher Caldwell

Yes, Divya, couple a so of things.

And As that about, can are we to that higher. get confidence digit. gives they some talked at the get mid-single lot we that's and to portfolio and as within believe if what scale growing higher, we've our got business, even businesses of digits, a more mid-single us not more of our

low-value the you the over we'll of ahead, talked about layer drive year. X% business from think As to to business our X% of are gotten down of we've our the year, but the about, course through X% not within also also year into Andre transactional XXXX that only sort that will this wins if the course

prototyping are tooling some can business. Google very, headwinds But partner whether be the that. the GenAI up So generative there making. And to implementation. of that that areas annotation, it it signed that with our this do that well, Salesforce, ultimately, more data are whether Microsoft, our and and and be doing quite in we're are be things very are grow all the areas work. more and We've whether it around is business some that Analytics confident we're demand we to growing with analytics different year past AI,

and with happy we're expanding certainly that. Just

for right fiscal messaging us, or move we also out, creates So to there's done. get being offshore our what of make because that, we somewhat 'XX the that we're drive Andre And probably headwind revenue we there's will prudent that thing our whether in with stuff an for the opportunity we guidance but business. And higher do as investors, if a for lots do it with to we're prudent momentum clients, pointed also will margin to want not. being to want a would sure

crime in be process, it we investments, it'd out for course making compliance, the whether we've capabilities businesses new expansion skill were through hire, all of were cases, the some terms of we building work, are of our of are that be well. we pretty whether that work we're think the gotten think some platforms, those where in individuals in some be that I some partners. software margin BFSI and of whether a in I the And our different into, clear were higher-margin obviously, XXXX, it and of about going our of growing cetera. And to it's have with financial we set our et whether additional

layered and year as And grow. And looking last out in software the that revenue. a sort that that of also up spending not did the spend of getting reducing so that do expectation multi-tenant, remarks, prepared our we that driving through more how course year. year. is state will to at of we we we my into see same more development needed told end commercially-ready until Andre of with spend pointed expect We on get be would And be in that, XXXX, then everything start the investors start we we're kind line would the this in we'll as to to the

frankly, are the Also value number is clearly, happy the with plan. call thing pipeline that's we sales We've IX begin low a but our out of dollar with, strong we that's it's got very first with margins. to And X product within that we that software should weeks. very very of couple got that. So

And to grow we so we well. more have business, and that margins layer ability that our more as the into as of our through

Divya Goyal

me. That's all play Maybe And services ask specific Could more helpful. the like managed the increasing understand, of concerns of agentic play what agentic out? to CX prevalence does help how us that's would role AI of the increased the X have and with the sector. you AI? prevalence just around automation, AI, Concentrix I'll in with interest for Concentrix question Or

Christopher Caldwell

right our to back understand Like that remarks. go I we half what clients don't I have now, prepared Divya. on sure, is think our investors quite right for now. Yes, GenAI

We have this. need analytics they data drive what depending them, that make on. There's management. They tuning. to of need They continue These they're things do which to deep to it. do "Look, And have client that be while of on other and a doing say, agents our doing require base do they're here, expertise revenues, around do the right autonomous it. big regulatory domain things. in autonomous require driving agentic what to of the are X sure the with GenAI our is tens countries around deployed lot we're require the coming years, thousands goes lot compliance to of does providers management last us around a work. that literally into just some doing There and software to grown And we you finding even understand

You understand how systems are the built.

all with technology. time have the You

to trying we're expertise the and domain what You understand around the achieve. data

You understand relationship. the client

so out how the to ago, products go." And So new years help figure have. there, products they for provides X didn't there, revenue our to in sell then that products get maintain streams us in us our as that and try we

despite cetera, analytics, delivering support services and and consulting, data think driving reducing And security about generation. simply even are -- TV how to of annotation for and figuring costs and for the the around are lot and walk and data out other thinking prepared is cetera, isn't how revenue that out them. able don't taking remarks just AI and improve And out years are GenAI commercials this people stuff try weren't as that revenues actually A that experience modeling businesses isn't. to through compliance, scale I you generative and We called cetera. costs. how, to companies found figure requires scale managed again, open the clients. And for what people the out services this that requires it we and professional to and better that thing and and at clients on appreciate, outcomes is, ago X actually et use and airport et to sort in be that at our I of the now best think it their is et

Operator

you your not And I'm for Instructions] conference. concludes the [Operator participation. further questions. any Thank showing This

You may now disconnect.

Concentrix (CNXC) 15 Jan 252024 Q4 Earnings call transcript