WHAT IS THIS ABOUT: On March 7, 2024, before the market opened, CI&T issued a press release entitled "Restatement of Previously Issued Financial Statements." The press release stated "(i) the Company's audited consolidated financial statements as of and for the year ended December 31, 2022, included in its annual report on Form 20-F for the year ended December 31, 2022 filed with the United States Securities and Exchange Commission ("SEC") on March 28, 2023, and (ii) the Company's unaudited condensed consol ...

SO WHAT: If you purchased CI&T securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. NEW YORK, June 06, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of CI&T Inc (NYSE: CINT) resulting from allegations that CI&T may have issued mat ...

NEW YORK, June 4, 2024 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of CI&T Inc (NYSE: CINT) resulting from allegations that CI&T may have issued materially misleading business information to the investing public. SO WHAT: If you purchased CI&T securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is pr ...

TODAY'S SPEAKERS Bruno Guicardi Founder & NAE President Eduardo Galvão IR Director Submit your question via email to INVESTORS@CIANDT.COM SAFE HARBOR AND NON-IFRS MEASURES NON-IFRS MEASURES We regularly monitor certain financial and operating metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. These non-IFRS financial measures include Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted EBI ...

Sure. Stanley, you want to get this one and I can add some comments. Joey Vafi Thanks and congrats for, actually, pretty impressive results. So going back to the non-GAAP EBITDA margin discussion, so you had some pressure this quarter, I think it was 300 bps. You alluded to compensation increases that typically happen in Q1. Can we get some color on how high were these increases this quarter? And then also in the context of margins, can you comment on pricing or repricing of contracts in this environment? A ...

WHAT IS THIS ABOUT: On March 7, 2024, before the market opened, CI&T issued a press release entitled "Restatement of Previously Issued Financial Statements." The press release stated "(i) the Company's audited consolidated financial statements as of and for the year ended December 31, 2022, included in its annual report on Form 20-F for the year ended December 31, 2022 filed with the United States Securities and Exchange Commission ("SEC") on March 28, 2023, and (ii) the Company's unaudited condensed consol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report Of Foreign Private Issuer Pursuant To Rule 13a-16 Or 15d-16 Of The Securities Exchange Act Of 1934 CI&T Inc (Exact Name of Registrant as Specified in its Charter) Estrada Guiseppina Vianelli De Napoli, 1455 – C, Globaltech 13.100-000 - Brazil Campinas-State of São Paulo 13086-902 - Brazil +55 19 21024500 (Address of principal executive office)) Form 20-F ____X____ Form 40-F ________ Indicate by check mark if the registrant is sub ...

Cash and Financial Position - Cash and cash equivalents increased to R$211,638 thousand as of December 31, 2023, up from R$185,727 thousand in 2022[521] - Financial investments decreased significantly to R$3,164 thousand in 2023 from R$96,299 thousand in 2022[521] - Total credit risk exposure decreased to R$872,092 thousand in 2023 from R$1,054,064 thousand in 2022[521] - Net foreign exchange exposure increased to R$41,172 thousand in 2023 from R$42,432 thousand in 2022[522] - The company signed a working capital loan contract for R$49.5 million (US$10 million) with interest SOFR 6 months + 2.80% on March 1, 2024[546] - Cash and cash equivalents as of December 31, 2023, were R$211,638 thousand, up from R$185,727 thousand at the end of 2022[597] - Cash generated from operating activities in 2023 was R$414,296 thousand, a significant increase from R$160,656 thousand in 2022[595] - Net cash from operating activities in 2023 was R$295,242 thousand, compared to R$36,092 thousand in 2022[595] - Redemption of financial investments in 2023 was R$90,298 thousand, a sharp decrease from R$655,533 thousand in 2022[595] - Proceeds from loans and borrowings in 2023 were R$205,093 thousand, a decrease from R$527,507 thousand in 2022[597] - Payment of loans and borrowings in 2023 was R$407,013 thousand, higher than R$350,571 thousand in 2022[597] - Repurchase of treasury shares in 2023 amounted to R$43,414 thousand[597] - Total assets decreased to R$2,716,891 thousand in 2023 from R$3,002,958 thousand in 2022[583] - Loans and borrowings decreased significantly to R$112,719 thousand in 2023 from R$236,030 thousand in 2022[583] - Total equity grew to R$1,411,251 thousand in 2023, up 7.9% from R$1,307,973 thousand in 2022[583] - Total equity increased from R$1,089,295 thousand in 2021 to R$1,307,973 thousand in 2023, reflecting overall financial growth[591] - Share capital increased from R$36 thousand in 2021 to R$37 thousand in 2023, reflecting minimal changes in equity structure[591] - Retained earnings reserve grew from R$125,957 thousand in 2021 to R$221,667 thousand in 2023, indicating strong profit retention[591] Financial Performance - Net profit for the year 2023 was R$132,573 thousand, compared to R$95,710 thousand in 2022 and R$125,957 thousand in 2021[588] - Exchange differences on translation of foreign operations resulted in a loss of R$48,153 thousand in 2023, compared to a loss of R$84,840 thousand in 2022 and a gain of R$23,830 thousand in 2021[588] - Cash flow hedges - effective portion of changes in fair value contributed R$13,203 thousand in 2023, compared to a loss of R$15,532 thousand in 2022[588] - Total comprehensive income for the year 2023 was R$97,623 thousand, compared to a loss of R$4,662 thousand in 2022 and a gain of R$149,787 thousand in 2021[588] - Net profit for the year 2023 was R$132,573 thousand, compared to R$95,710 thousand in 2022, representing a 38.5% increase[591] - Total comprehensive income for 2023 was R$97,623 thousand, a significant improvement from a loss of R$4,662 thousand in 2022[591] - Net revenue for 2023 increased to R$2,233,466 thousand, up 2.1% from R$2,187,710 thousand in 2022[586] - Gross profit for 2023 was R$745,724 thousand, a slight decrease from R$762,491 thousand in 2022[586] - Net profit for 2023 rose to R$132,573 thousand, a 38.5% increase from R$95,710 thousand in 2022[586] - Earnings per share (basic) increased to R$0.97 in 2023 from R$0.72 in 2022[586] - Operating profit before net finance costs and income tax expense increased to R$285,476 thousand in 2023 from R$273,918 thousand in 2022[586] - Total income tax expense decreased to R$76,722 thousand in 2023 from R$104,562 thousand in 2022[586] - Net profit for the year 2023 was R$132,573 thousand, a 38.5% increase compared to R$95,710 thousand in 2022[595] - Acquisition of property, plant, and equipment and intangible assets in 2023 amounted to R$24,109 thousand, slightly higher than R$22,967 thousand in 2022[595] Currency and Interest Rate Risks - The company estimates a 2% depreciation for the US dollar and 4% for the British pound against the Real by December 31, 2024[523] - Interest rates are expected to increase by up to 154 basis points for CDI and 60 basis points for SOFR by December 31, 2024[523] - The Brazilian real appreciated 7.8% against the U.S. dollar in 2023, but future volatility could impact the company's operations and profitability[142] - Exchange rate instability in Brazil could restrict access to international capital markets and reduce the U.S. dollar value of the company's results[142] - The company is exposed to fluctuations in foreign currency exchange rates, particularly due to its operations in Brazil and other countries, which could materially impact its financial results and require derivatives transactions to manage exchange rate risk[130] Cybersecurity and Risk Management - The company successfully implemented the ISO 27001 standard with the help of a trusted partner, validated by a third-party market audit firm[557] - The company's cybersecurity risk management processes include oversight of third-party service providers and vendor assessments to ensure compliance with security standards[557] - The board of directors and audit committee oversee information security risks, with regular meetings to discuss significant incidents and potential impacts[558] - The company maintains ISO 27001 certification and conducts annual audits to ensure compliance with cybersecurity standards[559] - CI&T conducts mandatory annual cybersecurity training for all employees, including simulated phishing exercises and real-world case studies[556] - The company has a robust incident response plan that is regularly updated to address evolving cyber threats[556] - CI&T participates in industry cybersecurity initiatives to share best practices and enhance security capabilities[556] - The company's business strategy, results of operations, and financial condition have not been materially affected by cybersecurity threats as of the report date[557] Corporate Governance and Shareholder Structure - The company relies on the foreign private issuer exemption for NYSE corporate governance rules, including not having a majority of independent directors on the board[553] - The company does not intend to establish a separate compensation committee and will continue to rely on Cayman Islands laws for governance practices[553] - The company approved a share repurchase program for up to 2.5 million Class A common shares until December 31, 2024[552] - Dual-class stock structure concentrates voting control with Class B shareholders, limiting influence of Class A shareholders[157] - The company's Class B shareholders have preemptive rights to purchase additional shares, which may impair the company's ability to raise funds on favorable terms[164] - The company's exclusion from major indices like S&P 500 and FTSE Russell due to its dual-class share structure could negatively impact its share price and investor attractiveness[165] - As a foreign private issuer, the company follows Cayman Islands laws, which may provide less shareholder protection compared to U.S. domestic registrants[165] - The company's shareholders may face difficulties in protecting their interests due to the less prescriptive nature of Cayman Islands corporate law[167] - Judgments obtained against the company in U.S. courts may not be enforceable in the Cayman Islands or Brazil, where most of its assets are located[168] - The company's obligations under Class A common shares may only be payable in Brazilian reais, potentially limiting compensation for non-Brazilian investors due to exchange rate fluctuations[168] Acquisitions and Business Expansion - CI&T Brazil completed the acquisition of 100% of Box 1824 in June 2022, which was merged with CI&T Brazil in December 2022[607] - Dextra Inc. was extinct in 2023[607] - CI&T acquired 100% of NTERSOL Consulting LLC in November 2022, later renamed to CI&T Financial Services Solutions, LLC, and Core IP was renamed to CI&T FinTech Services, Inc.[607] - CI&T acquired 100% of Somo Global Ltd and its subsidiaries in January 2022[607] - CI&T acquired 100% of Transpire Technology Pty Ltd in September 2022, later renamed to CI&T Oceania PTY Ltd, and Unconstrained Thinking PTY Ltd was extinct[607] - The company completed acquisitions in 2022 including Somo Global Ltd, Box 1824 Planejamento e Marketing Ltda, Transpire Technology Pty Ltd, and NTERSOL Consulting LLC to expand in EMEA, APAC, and North America[118][119] - CI&T completed multiple acquisitions, including Dextra Group (2021), Somo Global Ltd (2022), Box 1824 (2022), Transpire Technology Pty Ltd (2022), and NTERSOL Consulting LLC (2022) to expand its global capabilities[170][171] Revenue and Market Performance - Net revenue increased by 2.1% in 2023 and 51.5% in 2022 compared to the prior year[111] - 59% of Net revenue in 2023 came from activities outside Brazil, up from 55% in 2022[112] - 54% of Net revenue in 2023 came from clients in North America and Europe, a 2 percentage point increase from 2022[118] - CI&T's net revenue for 2023 was primarily generated from the United States (44%) and Brazil (41%)[170] - CI&T's Net Revenue in 2023 was $2.23 billion, with North America, Europe, Latin America, and Asia Pacific as key regions[205] - CI&T's cost of services includes employee expenses and non-reimbursable project-related costs, such as salaries, benefits, and depreciation[207] - Revenue is concentrated in Financial Services (29%), Consumer Goods (20%), and Technology & Communications (17%) as of December 31, 2023[100] - Financial Services contributed 29.0% of total Net Revenue in 2023, generating $647.06 million[199] - Consumer Goods accounted for 20.1% of total Net Revenue in 2023, with $448.59 million[199] - Technology and Telecommunications represented 17.3% of total Net Revenue in 2023, contributing $387.29 million[199] - Retail and Industrial Goods made up 12.3% of total Net Revenue in 2023, with $274.56 million[199] - Life Sciences contributed 11.1% of total Net Revenue in 2023, generating $247.04 million[199] - The number of clients generating over R$10 million in Net Revenue increased to 50 in 2023, up from 38 in 2022[197] - Top Ten Clients accounted for 40% of total Net Revenue in 2023, amounting to $887.28 million[196] Operational Risks and Challenges - A material weakness in internal control over financial reporting led to the restatement of financial statements for 2022 and 2023[536] - The 2022 financial statements were restated to correct a misstatement, as noted in the audit report[574] - Material weakness identified in deferred income taxes and classification corrections, leading to restatement of financial statements for 2022 and interim periods in 2023[128] - Remediation measures for material weakness are time-consuming and costly, with potential risks of delayed financial reporting and regulatory sanctions[128] - Director and officer liability insurance coverage limited to $10 million[128] - The company faces risks related to data breaches and security obligations, with potential reputational damage, client loss, and substantial liability if it fails to comply with contractual security requirements[102] - The company may face unanticipated liabilities or deficiencies from acquisitions, including legal, financial, and reputational risks, which could result in significant costs and harm its financial results[122] - The company's reliance on third-party open-source software introduces risks of defects, security vulnerabilities, and potential litigation, which could adversely impact clients and the company's business[102] - Acquisitions may result in goodwill and intangible asset impairments, new regulatory obligations, and shareholder dilution if financed through convertible debt or equity securities[122] - The company faces risks from potential future inflation and government interventions in Brazil, which could harm its business and share price[155] - The company's performance is dependent on the overall health and growth of the Brazilian economy, which is impacted by infrastructure limitations and labor market volatility[153] - The company's Class A common shares may face significant price volatility, particularly due to factors such as revenue fluctuations, analyst expectations, and market trends[159] - The company does not anticipate paying cash dividends in the foreseeable future, as it intends to retain earnings for business operations and growth[164] Regulatory and Legal Risks - Compliance with anti-corruption laws such as the Brazilian Clean Company Act and the U.S. FCPA may result in significant fines and reputational harm[139] - The company faces risks related to data localization laws, which could increase operational costs and limit service offerings in certain jurisdictions[135] - The Economic Substance Act in the Cayman Islands may impose additional compliance costs and affect the company's business operations[140] - Failure to obtain or renew property operation licenses could result in fines, suspension, or termination of operations at affected locations[140] - The company may face legal proceedings, including tax, civil, and labor claims, which could divert resources and harm its financial condition[148] - The company is subject to conflicting legal and regulatory requirements across multiple jurisdictions, increasing compliance costs and operational risks[137] - Potential changes in Brazilian tax laws, including Bill of Law No. 3,887/2020 and No. 2,337/2021, could adversely affect the company's financial results[137] - Changes in internet-related laws and regulations could negatively impact demand for the company's services and increase compliance costs[133] - The company is subject to evolving privacy and data protection laws, which may impose significant compliance costs and restrict market expansion[135] Market and Industry Trends - The digital transformation services market is projected to reach $3.9 trillion by 2027, with a CAGR of 16.1%[180] - Expenditures on generative AI (GenAI) solutions are expected to reach $151.1 billion by 2027[180] - CI&T launched CI&T/FLOW, an AI-powered platform, in July 2023 to enhance software and digital development efficiency[173] - The company launched the CI&T/FLOW AI-powered platform in July 2023 as part of its AI capabilities expansion[124] - CI&T's Growth Units are industry-agnostic and multidisciplinary, with teams of approximately 10 people dedicated to specific clients or projects[173] - CI&T's Adhocracy managerial approach was featured in a case study at the London Business School in 2020[177] - CI&T has been certified as a "Great Place to Work" in multiple countries, including the US, Canada, and Brazil, for 17 consecutive years[177] - CI&T's five-year average Net Revenue Retention Rate is 120%, indicating strong client retention and expansion[194] - CI&T's Net Revenue Retention Rate averaged 120% over the last five years[173] - CI&T has a global presence with over 6,100 professionals across nine countries[173] Economic and Political Environment - Brazilian inflation rates were 4.62%, 5.79%, and 10.06% as of December 31, 2023, 2022, and 2021, respectively[155] - The SELIC rate target in Brazil was 11.75% p.a. as of December 31, 2023, after a gradual decrease from 13.75% p.a. in August 2022[155] - Brazil's sovereign credit ratings as of the report date were BB- positive (S&P), Ba2 stable (Moody's), and BB- stable (Fitch)[158] - Brazilian GDP growth was 2.9% for the year ended December 31, 2023, following growth of 2.9% in 2022 and 4.6% in 2021[153] - Brazil's credit rating was downgraded to BB- by S&P in January 2018 and maintained at BB- with a stable outlook by Fitch in 2022[156] - The Brazilian economy experienced a contraction of 4.1% in 2020, followed by growth of 4.6% in 2021 and 2.9% in 2022 and 2023[153] - Brazilian government policies and economic conditions could significantly impact the company's operations and share price[151] - Emerging market developments, including financial instability, could impact import/export operations, consumer demand, and profitability[110] - Liquidity issues in the financial services industry, such as bank failures, could disrupt access to funds and affect business operations[110] Employee and Workforce Management - Employee utilization rates are critical to profitability, with factors including project transitions, demand forecasting, skill deployment, attrition management, and training impacting margins[94] - The technology industry experiences high workforce turnover, and the company competes for skilled IT personnel, with high attrition rates potentially increasing hiring and training costs and affecting business growth[92] - Misjudging demand patterns could lead to idle capacity, employee layoffs, or shortages, impacting revenue and profit margins if senior employees are deployed on projects without passing higher rates to clients[95] - The company's future success heavily depends on the continued services of its senior management team, particularly the CEO and key executives of acquired companies, with stock options vesting periods ranging from 5 to 7 years to incentivize retention[130] - The company faces intense competition for senior executives and key employees, and the loss of such personnel could disrupt business operations, lead to client loss, and result in unauthorized disclosure of technical knowledge[130]

NEW YORK--(BUSINESS WIRE)--CI&T (NYSE: CINT, “Company”), a global digital specialist and fast-growing technology company, today announces its results for the fourth quarter of 2023 (4Q23) and the full-year ended on December 31, 2023 (2023) in accordance with International Financial Reporting Standards (IFRS). The consolidated statement of profit or loss, financial position, and cash flow presented in this report already contemplate the restated numbers for 2022. Please refer to the announcement on March 7, ...

For the 1Q24, At least: R$520 million, On a reported basis (Avg. FX rate of 5.00 BRL/USD in 1Q24) NET REVENUE GROWTH (Y-O-Y) For the full-year of 2024, in the range of: Adjusted EBITDA margin (1) in the range of: 17% to 19% Notes: These estimates are forward-looking statement. See Safe Harbor regarding Forward-looking Statements. (1) Adjusted EBITDA margin and net revenue at constant currency (FX neutral) are non-IFRS financial measures. Please refer to the Preliminary, Unaudited financial disclosures for m ...