CI&T Inc

Thank you, Cesar. And good afternoon, everyone. I'm excited to share our progress regarding our people in this first quarter of the year. We entered Q1 with 7,400 employees, a 21.6% increase compared to Q1 2024. This growth demonstrates our commitment to strengthen our teams and cultivate the next generation of leaders in technology. As part of our NextGen program, we successfully onboarded 420 trainees. This initiative not only enriches our organizational culture, but also prepares today's AI professionals for the challenges they will face in the future. Another group of trainees will join us in Colombia in the second half of this year, broadening learning and growth opportunities for young talents in the region. These trainees will undergo a comprehensive AI training and become billable in the second half of the year. Our focus on attracting and developing high potential individuals is vital to our ongoing success. By fostering a culture of innovation and continuous learning, we ensure that our teams are well equipped to drive value for our clients and contribute to our collective growth. I'm excited to announce the launch of our 2024 Global ESG Report, which underscores our commitment to transparency and sustainable practices. As the video illustrated, we achieved significant milestones in 2024 that reflect our ongoing dedication to ESG principles. In addition, last year we introduced our new environmental policy and engaged 3,700 community members through our volunteer programs. We are also proud of the third edition of the Black Leadership Career Acceleration Program, which supports the development of professions of color. This report reaffirms our dedication to building a sustainable, innovative future. It highlights how we transform challenges into opportunities, creating value for both our business and society. We invite you to explore the report and join us in our commitment to sustainability and inclusion. Now let me share some insights into some of our services powered by Generative AI. One offer we see significant traction is in modernization of legacy systems. These platforms are holding clients back and preventing them from adapting quickly to an ever-changing business environment. By leveraging AI, we greatly reduce risks and errors while exponentially accelerating modernization efforts. Another key offering is our AI professional services. This program provides clients with a safe and compliant generative AI platform together with services to help them establish an adoption roadmap, training and coaching programs, ensuring they can fully scale AI across their organization, harnessing its potential while minimizing risks. We are also unlocking efficiency through AI-first augmented teams. This approach enhances productivities and delivers significant business outcomes, allowing our clients to operate with greater agility and effectiveness. We are at the forefront of this transformation. We have industry-leading AI adoption, with more than 85% of our employees already utilizing our AI-powered CIT Flow platform daily to modernize systems, create agents, and drive tangible results for our clients. Now, I'd like to invite Stanley to share our financial results from this quarter.

Thank you, Bruno, and good afternoon, everyone. In the first quarter of 2025, CING achieved net revenue of $110.9 million, which represents a 4.9% increase compared to $105.7 million in the first quarter of 2024. When adjusted for currency fluctuations, our organic net revenue growth at constant currency was 13.7% year-over-year. This growth can be attributed to our focused internal initiatives aimed to enhancing client relationships and expanding our service offering. Our strategic emphasis on AI and digital transformation continues to drive new business opportunities and deepen engagements with our existing clients. Now let's review our revenue breakdown by geography and industry verticals for the first quarter of 2025. Our two main markets reported healthy growth on a year-over-year basis. Revenue from Latin America grew by 11%, while revenue from North America increased by 12%. These figures highlight our strong presence and growth potential in key markets. In terms of industry verticals, revenue from financial services increased by 25% and retail and industrial goods grew by 32%. This performance reflects our strategic focus on industries that are prioritizing digital transformation and modernization. Notably, our top 10 clients' revenue grew by 7.2% compared to the first quarter of 2024. This robust performance illustrates the effectiveness of our proprietary CI&T Flow platform, which has proven instrumental in delivering innovative solutions that meet our clients' evolving needs. We have been successfully onboarding high-profile clients, showcasing our ability to expand our engagement with top-tier organizations. Our commitment to nurturing these relationships has led to significant revenue contributions from our top clients. Currently, we have 10 clients generating over 10 million in revenue and 13 clients within the 5 to 10 million dollars range. This robust performance demonstrates our effective Lend and Expand strategy, allowing us to deepen our partnerships and capture greater wallet share. In this quarter, we recorded an adjusted EBITDA of $19.6 million, which is a 15.2% increase compared to $17 million in the first quarter of 2024. The adjusted EBITDA margin improved to 17.6% in the first quarter of 2025, up from 16.1% in the same quarter last year. This improvement was primarily driven by lower selling general and administrative expenses, reflecting our ongoing commitment to operational efficiency and cost management. Importantly, cash generating from operating activities was 19.6 million in the first quarter 25, representing a 100% cash conversion from adjusted EBITDA into operating cash. This strong cash conversion highlights our ability to generate cash from our operations, providing us with the flexibility to invest in strategic initiatives and support our growth. Adjusted net profit increased by 14.2% to $9.6 million in Q1 2025, up from $8.4 million in Q1 2024. The adjusted net profit margin rose to 8.7% in Q1 2025, compared to 8% in Q1 2024. This improvement was primarily driven by lower SG&A expenses along with reduced net finance costs. Our adjusted diluted earnings per share was 0.07% in Q25, marking a 16.6% increase from the previous year. This growth in adjusted diluted earnings per share demonstrates our ability to translate increased profits into shareholder value. Additionally, our free cash flow to adjusted net income ratio stood at an impressive 151.6%, underscoring our strong capacity to generate cash flow from our operations. Now, I invite Cesar back to comment on our business outlook.

Thank you, Stanley. In the second quarter of 2025, we expect our reported net revenue to be at least $115.5 million, equivalent to an 11.9% year-over-year increase on a constant currency basis and 6.5% growth in reported revenue. This estimate assumes an average FX rate of 5.79 Brazilian reais to the US dollar in the second quarter of 2025, compared to 5.21 Brazilian reais to the US dollar in the second quarter of 2024. For the full year of 2025, we are reaffirming our guidance. We expect our net revenue growth at constant currents to be in the range of 90% to 15% year-over-year. In addition, we estimate our adjusted EBITDA margin to be in the range of 18% to 20%. This outlook is supported by a solid commercial pipeline. strong sales conversion, and a secure expansion of our top 10 clients in our two largest markets, the US and Brazil, along with ramp-ups of high potential new accounts. To conclude, I want to express my heartfelt appreciation for the dedication and resilience of our team. Your commitment to our vision has been truly inspiring. As we look ahead, our ability to collaborate, innovate and transform will continue to define CINT and drive our success. This brings us to the end of our presentation and we may now begin the Q&A session. Thank you.