Concentrix Corporation

listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question and answer session. To ask a question, please press star 1-1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. I would now like to hand the conference over to your speaker today, Sarah Buda, Vice President, Investor Relations.

Great. Thank you, operator, and good evening. Welcome to the Concentrix first quarter 2025 earnings call. This call is the property of Concentrix and may not be recorded or rebroadcast without the written permission of Concentrix. This call contains forward-looking statements that address our expected future performance and that, by their nature, address matters that are uncertain. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements as a result of new information or future expectations, events, or developments. Please refer to today's earnings release and our most recent filings with the SEC for additional information regarding uncertainties that could affect our future financial results. This includes the risk factors provided in our annual report on Form 10-K and other public filings with the SEC. Also during the call, we will discuss non-GAAP financial measures, including adjusted free cash flow, non-GAAP operating income, non-GAAP operating margin, adjusted EBITDA, adjusted EBITDA margin, non-GAAP net income, non-GAAP EPS, and constant currency revenue growth. A reconciliation of these non-GAAP measures is available in the news release and on the company's investor relations website under financials. With me today on the call are Chris Caldwell, our president and CEO, and Andre Valentine, our chief financial officer. Chris will provide a summary of our operating performance and growth strategy, and Andre will cover our financial results and business outlook. And then we will open up the call for your questions. Now I'll turn the call over to Chris.

Thank you very much, Sarah. Hello, everyone, and thank you for joining us today for our first quarter 2025 earnings call. Let me start with a summary of the positive trends in our business. As evidenced by our Q1 results showing year-over-year revenue and profitability growth above guidance, we have confidence in our ongoing revenue, margin, and cash flow growth for the remainder of the year. We saw a solid demand environment in Q1 with our focus on winning consolidation opportunities, cross-selling our offerings into our existing accounts, and expanding our pipeline of transformative deals we have made progress across all areas in the quarter. As a reminder, our strategy for long-term accelerated growth with a margin expansion centers around two primary topics. First, bringing integrated AI solutions that align with clients' needs. And second, expanding the value we provide clients across a broader portfolio of business solutions to grow our share of wallet. On the first point, we now have GenAI solutions powered by our own and partner technology deployed at scale across our operations. With autonomous solutions and GenAI platforms across hundreds of thousands of desktops that cover the majority of our clients, we believe we are among the largest scale proven GenAI deployments in the world. With our decades of expertise and leading clients through their automation journey, we are becoming a trusted provider for companies seeking pragmatic, real-world AI solutions. In fact, we recently commissioned a third-party advisor to conduct a blind survey of more than 400 global enterprises. This is to identify sentiment, market trends, and our own brand recognition. While the survey is still in progress, early results show that many global enterprises view Concentrix as a well-known, trusted partner of choice when it comes to global-scale AI solutions that are enterprise-ready, secure, practical, and deployable. Clearly, the market is entering a more mature phase of Gen AI. The headline-driven hype has abated with clients. They don't want flashy, unproven demos, and can't afford more failed AI pilots. They want results and are turning to the partners they trust, partners that combine human intelligence, domain expertise, global scale, and advanced AI productivity tools to take the promise of AI into reality. This is where we are positioned to outperform in the AI-powered world. This brings me to our AI products, sorry, IX Hello products. we are pleased with our early results and adoption with thousands of seats now deployed across an increasingly number of enterprise clients. While still de minimis to the size of the business we are, this quarter we have started to monetize a number of clients as the pilot phases turn into deployments. As a reminder, we are focused on our IX suite being accretive to our earnings by the end of fiscal 2025. Recently, we introduced new features of IXLO with smarter, multimodal customer-facing assistance that are easy to create, customize, and integrate across the enterprise. We have an aggressive feature release schedule through the year focused on solving real-world client challenges. On the second part of our strategy, our expanding value for our clients with broader offerings, in the first quarter, our revenue for our top 25 clients continues to outpace the growth rate of the rest of our business. Our ability to grow share through innovation and our ability to introduce a broad range of business services has allowed us to consolidate volume from other partners. As a reminder, we offer a broad range of business solutions from strategy and design services to data analytics to enterprise technology transformation and digital operations. Our differentiated engagement is helping Concentric stand out from traditional CX providers and, more importantly, grow our share of client spending. In summary, we're starting to see a solid start to the year, reaffirming our confidence that we have the right strategy and the right model to drive long-term sustainable growth. In Q1, we delivered solid financial results with revenue and profit above forecast and year-on-year growth across all key financial metrics. We continue to lead our market in agentic AI solutions that drive results, demonstrating once again that AI is a win-win for us and our clients. We are expanding our share of wallet and share of market with a broader array of business services that power our client success. And finally, we have strong fundamentals with durable reoccurring revenue streams, longstanding clients, and a track record of strong cash flow generation and shareholder returns. I'm pleased with our progress as we begin the year, and I'd like to thank our dedicated game changers for their hard work and commitment to excellence and our clients for the trust and business. Now I'll turn the call over to Andre to review our first quarter financial results and our outlook for the remaining of the year.