and hello, topics fiscal we're contracts Martin, our of We're to our and I'd Thanks, like at our outlook customer and for our April progress each these our full outlook. year initiatives, the quarterly results, solid XA and year continued X. enthusiastic about discuss which everyone. Today, on particularly, began on which XXXX, margins signing
results execution and quarter macro constant reflect our currency. low-margin from quarter, exit relationships, progress initiatives. within billion, in by revenue decline key our negative, revenue no fourth was operational anticipated not totaled by X% streams Our customer The and strong factors. ongoing the In continued primarily and driven a intentional on $X.X decline year-over-year
share gain at currency. and in as in momentum consecutive our Total QX, the highlighted, in constant grew in advisory year X% a value-add our XX% of currency revenues we're constant up space. year-over-year Kyndryl higher-margin, quarter year-over-year continue signings which constant services. second higher how growth, even underscores grew higher-margin were to in Consult X% signings signings whole. Martin this we currency XX% growing faster grew As Consult in in
momentum was signings And and strong signings enterprise Data year-over-year. strongest practices. April, for a & Apps, April growth through our resiliency, our up our AI the Our were driving year and XX in & trailing X% core XX-month security with
points increased EBITDA Our XX.X%. fourth XXX adjusted year-over-year basis quarter margin EBITDA our adjusted and $XXX by grew to million to XX%
with Consistent key was driver income million earnings $XX performance were QX. year-over-year. the growth in pretax of million, our Adjusted trends XAs improvement all driving the our year, again our in a $XX profit
For year XXXX revenue. as whole, fiscal we $XX.X a generated billion of
to expanded adjusted year. the momentous XX% pretax adjusted single-digit adjusted pretax high grew XXX points $XXX was by representing We year-over-year our from above margin EBITDA our a basis our $XXX increase adjusted income by and adjusted billion, million, million margins. our prior Our EBITDA leap targets points, XXX were path represent basis pretax a which our $X.X on margin forward and to
to accounts, growing our away going needs. is throughout skating in stepping independent as our an calorie revenues, fixing the reflects IT business, alliances, Consult puck terms portion technology progress efficiency operations achievements, our the company leveraging financial driving from Our strategic focus customers' future where empty and our of of
us go strong as Our performance gives in we momentum fiscal XXXX forward.
average with am future growth. revenue, So how I'm a results. XX, in in been pretax The continuation throughout towards mix margin Throughout year, we've as projected post-spin earnings significant encouraged increasingly graph a book-to-bill very that Kyndryl for of margins. more was profit the even in accentuates our as more our as enthusiastic growth Therefore, by creating the our about billion the year, delivered, positioned expansion reported added contracts included of with I contracts, With billion we gross digits. shifts margins the see we've over signed profit gross projected signing margin business we margin Slide on single you'll projecting quarter signings how, of we've of March In middle mid-XXs chart projected the high capturing an our gross backlog. $XX.X margins fiscal this in and past our on healthy to our and profit $X XXXX, in value XX% business. also gross we've business
we've of the billion. gross time, $X.X of period reported profit Over same
profit we've measure a is this from matters P&L. over ratio been more means X future and to been has we're growing we've backlog how contracts Having the last This doing gross consistently X.X a the above book-to-bill of gross at profit X what been business most, profit our in committed years. producing than contracted our expected of book adding our
generated our cash sheet. fiscal We in to cash balance $XXX Turning million XXXX. free and flow adjusted flow of year
$XXX our We in free free pretax as bridge our appendix. from asset adjusted well million, our as a Taxes, of Our our typical cash adjusted we to expenditures from a million capital growth cash. cash were provided and $XXX of flow a received to dispositions. taxes proceeds were than being larger bridge income from flow use EBITDA the
position financial remains strong. Our
Our XX cash at $X.X was balance March billion.
$X.X Our committed us cash, combined at available capacity billion under debt of gave year-end. liquidity with facilities borrowing fiscal
our loan We in refinanced million term QX. $XXX
under our XXXX our well from was borrowings billion. As debt laddered debt now are maturities at outstanding our had XXXX. quarter no and credit result, $X.X We to a end net revolving late facility,
our a sits net result, As target leverage well our within range.
On our remain continue business. capital investment to top our Moody's, Fitch grade maintain by reinvest be rated and We are S&P. and in liquidity, grade priorities allocation, investment to strong
As our increase, they'll free earnings meaningful cash growth. flow drive
capital As position grade. in a result, all to over time, investment we'll be shareholders, remaining a to consider regularly returning while
slam for delivered run. Our around XA galvanized huge It's our people it's been grand game that strategically strategy benefits. customers, changers has us a our are It's us and business. our for and initiatives helped financial home transform
the hyperscaler cumulative cumulative cost target million year, million advanced fiscal year-end $XXX from initiative. reminder, XXXX a in in tied delivery As pretax of annualized annualized our the at savings of by accounts to we fiscal revenue start $XXX of million from benefit provided and $XXX alliances,
$XXX targets recognized the related our of each $XXX and revenue of we targets. Through more the in alliances, During raised year, million these we quarter. we raised million, than hyperscaler by fourth the each in exceeded
our into brought As delivery year-to-date more technology our by to $XXX our we and our million, It's our prior our Martin operations, powered delivery win-win automation increase year mentioned, reduce drive hyperscaler to already-strong initiative advanced and levels. for triple this throughout continue customers. total. incorporate a Kyndryl costs, our Through Bridge, revenue Kyndryl offerings, service
our run address in worth million date, to is a delivery $XXX able annual free than increase past this attrition. backfill new in been representing year professionals we've X,XXX opportunities quarter. million rate a roughly more revenue $XX us, to to To up This
continues remediate initiative by to elements profit we fourth accounts contracts with of from inherited annualized margins. substandard cumulative accounts the In the we to Our $XXX quarter, million. $XXX increased focused million our
savings from $XXX more. out to XAs. years income equating by that we to annual or generate medium million accounts laid of benefits $XXX XXXX, $XXX drive we're Due initiatives drive cost $X the pretax million our each Two million fiscal roughly billion, date, and annual delivery that will ago, respectively. raising incremental of ambitions we'll each expect our term, bold pretax $XXX to income the in will over million we In these benefits and ultimate progress to from advanced
approach revenue For expect billion, to XXXX hyperscaler-related alliances, double level. $X we roughly our
and expect We expect $XXX we in focus our million $XXX $XXX of and benefits half this we to benefit accounts in incremental year-over-year. annualized last. savings benefit reach full million is to to incremental the the from actions additional fiscal of fiscal $XXX delivery of million advanced reach year to half part-year took actions year is annualized delivery profit of of XXXX. And and take advanced initiative compared in to deliver year-end million savings in we Roughly XXXX and of the accounts, by will benefit the deliver
back-to-back slams, business can. you baseball, the grand our In but and through we XAs, can't in have
operating regular the of In model than rather becoming distinct XAs fact, a our are part initiatives.
XXXX, to our look our free are we margins, our earnings, inflect As and fiscal flow. ahead cash to generate expand core year growth the progresses to as continue financial revenues grow back our goals to
range until effect. away We revenue actions $XX.X X% constant for took decline be is in we margin billion, to to quarters to no of of outlook still significant low to X% anniversary currency. in X most have $XX.X a billion when from to step go of Our the to our revenues
and revenue, XXXX we growth move next fourth quarter. our XXX returned having In the recent year-over-year increase on year an estimate our pretax $XXX basis pretax our we're for increasing movements in rates, $XXX decrease track currency Two of right least single-digit growing progresses, fiscal EBITDA pretax revenue that doubling regarding the aggregate and the in to revenue note XXXX. XXXX our XXX reported income points is to adjusted at to that adjusted XXXX. fiscal XX.X%, us negative down million expect will items fiscal generating on exchange exchange be are and least versus adjusted adjusted at And a Based as points means million.
This the least on and impact we depend This our means will nearly outlook growth be in margins we the more at basis at adjusted over margin So declines on by fiscal million XX rates pretax income months. margin lands margin high least $XXX in then, will where strong year-over-year. earnings but keeps outlook. how on our year-over-year by delivered
We continue to opportunities SG&A in and delivery both efficiency advanced operations, functions. in see our to drive through
While charges note incur $XXX fiscal program hiring XXXX the fiscal of rebalancing attrition, XXXX. associated in included to costs that for labor our manage we and primarily million workforce important through outlook expect It's with anticipated we to this charges in are roughly adjusted such last results compute our been adjusted and pretax our adjusted EBITDA, costs and longer. storage our teams fiscal of income to as XXXX hardware adjusted working CapEx, whereas flow, charges. managing free our have cash make in and Also, excluded part
we've result, be these offset This assets the been us to the by a pre-spin X. from our at of As from benefit had benefit extend end having largely will of X lives years now assets able parent cost. former to we're from transferred certain the depreciable to
million a impact will The be reduction expense. noncash X year-over-year roughly changes combined our in these $XX depreciation of
last currency should reported year-over-year be particular, quarter. our in at will the higher income revenue we first million adjusted $XX similar pretax the modestly than in our first decline year's QX Looking and be to constant quarter
$XXX fiscal depreciation topic year of capital roughly $XXX net for On of XXXX million and flow expense. expenditures a cash the about in project we million as of the whole,
we have million We taxes. migration XXXX, any pay in won't expect cash roughly Unlike to below-the-line systems outlays. $XXX fiscal
adjusted As less of a we're taxes forecasting cash result, roughly pretax flow. into cash XXX% conversion income free
timing and significant will of due be incentive software and quarters payments a From subsequent will to be a perspective, cash user QX more favorable. annual
delivering Over term, flow cash committed the free margin and significant growth. to expansion remain medium generating we
all taken this alliances, plan that manage We up, our drive on their mission-critical the our experts businesses. to strategic plan complex on earn game have technology and our wrap starts a a with and expand organizations services operate and revenues. insights steps of large our our our model To solid rely progress we've and game advance to return already to around business to providing centers technology costs
infrastructure leading mission-critical distinguish the do, IT services what nature IT position market in and providers us services. of of we from Our other
clear levels customers that the technology Our differentiates us. multiple and our we're through with our extremely we well. providers service customer further satisfaction growth make And delivering it serve alliances scores
of results that we're demonstrate to additional fiscal of successfully in opportunities we're substantial Our runway long, fortunate realizing have, XXXX opportunities front growth strong a we the have and us.
With take I to that, be Martin questions. would and pleased your
