Conduent Incorporated (NASDAQ:CNDT) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET Company Participants Giles Goodburn - Vice President, Investor Relations Cliff Skelton - President and CEO Steve Wood - CFO Conference Call Participants Zachary Ajzenman - Cowen Operator Greetings, and welcome to Conduent's Second Quarter 2022 Earnings Announcement. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Giles Goodburn, V ...

Financial Performance - Revenue for Q2 2022 was $928 million, a decrease of 9.5% compared to $1,026 million in Q2 2021[7] - Net income for Q2 2022 was a loss of $3 million, compared to a net income of $12 million in Q2 2021[9] - The company reported a comprehensive loss of $40 million for Q2 2022, compared to a comprehensive income of $15 million in Q2 2021[9] - Net income for the six months ended June 30, 2022, was $136 million, compared to a net loss of $1 million for the same period in 2021[16] - The company reported a net income of $136 million for the six months ended June 30, 2022, compared to a net income of $1 million in the same period of 2021[122] - Net income for the three months ended June 30, 2022, was a loss of $12 million, compared to a net income of $12 million in the same period of 2021[120] Revenue Breakdown - Total consolidated revenue for Q2 2022 was $928 million, a decrease of 9.5% from $1,026 million in Q2 2021[42] - Commercial segment revenue for Q2 2022 was $470 million, down 3.7% from $488 million in Q2 2021[58] - Government Services segment revenue for Q2 2022 was $279 million, a decrease of 17% from $336 million in Q2 2021[58] - Transportation segment revenue for Q2 2022 was $179 million, down 3.2% from $185 million in Q2 2021[58] - New business annual contract value (ACV) reached $180 million, marking an increase for the fourth consecutive quarter, with $124 million contributed from the Commercial segment[115] - New business Annual Contract Value (ACV) for Q2 2022 was $180 million, a decrease of 30% compared to $257 million in Q2 2021[166] Cash Flow and Liquidity - Cash and cash equivalents increased to $519 million as of June 30, 2022, up from $415 million at the end of 2021[14] - Cash flows from operating activities showed a net cash outflow of $5 million for the six months ended June 30, 2022, down from a cash inflow of $103 million in 2021[16] - Cash flows from investing activities resulted in a net cash inflow of $242 million, significantly improved from a net cash outflow of $69 million in the prior year[16] - Total cash and cash equivalents as of June 30, 2022, were $519 million, an increase from $415 million at the end of 2021[171] Debt and Liabilities - Long-term debt decreased to $1,272 million from $1,383 million at the end of 2021, indicating a reduction of 8%[14] - The company had no outstanding borrowings under its Revolving Credit Facility as of June 30, 2022, with a net available amount of $546 million[70] - Total debt outstanding as of June 30, 2022, was $1.3 billion, with $30 million due within one year[172] Expenses and Costs - Total operating costs and expenses for Q2 2022 were $923 million, down from $1,007 million in Q2 2021, reflecting a 8.4% reduction[7] - Research and development expenses were $2 million in Q2 2022, slightly up from $1 million in Q2 2021[7] - The company incurred $166 million in losses on divestitures and sales of fixed assets during the six months ended June 30, 2022[16] - The company recorded restructuring and related costs of $18 million for the six months ended June 30, 2022, compared to $19 million for the same period in 2021[66] Asset Management - The company’s total assets decreased to $3,900 million as of June 30, 2022, down from $4,036 million at the end of 2021[14] - The company’s retained earnings deficit improved to $(2,220) million from $(2,351) million at the end of 2021[14] - The balance of retained earnings (deficit) as of June 30, 2022, was $(2,220) million, reflecting a decrease from $(2,217) million at the end of March 31, 2022[21] Market and Operational Insights - The company continues to evaluate the impact of COVID-19 on its operations, with estimates subject to change as new information becomes available[29] - The company has maintained a proactive plan throughout the COVID-19 pandemic to ensure the health and safety of its associates[116] - The company is engaged in restructuring programs aimed at optimizing its employee base and reducing costs, with total restructuring costs of $11 million for the three months ended June 30, 2022[130] Legal and Compliance - The Company is involved in various claims and lawsuits, which could materially affect its results of operations, cash flows, and financial position[85] - The Company has recorded adequate provisions for potential liabilities as of June 30, 2022, but litigation outcomes remain unpredictable[86] - The Company is defending against a class action lawsuit seeking unspecified monetary damages related to alleged violations of federal securities laws[87] Other Financial Metrics - Adjusted EBITDA for Q2 2022 was $87 million, down from $128 million in Q2 2021, reflecting a decrease of about 32.0%[149] - Adjusted EBITDA margin for Q2 2022 was 9.4%, compared to 12.5% in Q2 2021, reflecting a decrease of about 3.1 percentage points[149] - The decline in revenue and adjusted EBITDA for Q2 2022 was primarily due to the sale of the Midas Suite of products, which affected the current year’s results[160]

Conduent Investor Deck May 2022 Cautionary Statements Forward-Looking Statements This document contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "plan," "intend," "will," "aim," "should," "could," "forecast," "target," "may," "continue to," "if," "growing," "projected," "potential," "likely," and similar expressions, as they relate to us, are intended to identify forwardlooking statements, but th ...

Conduent, Inc. (NASDAQ:CNDT) Q1 2022 Earnings Conference Call May 3, 2022 5:00 PM ET Company Participants Giles Goodburn - VP, Corporate FP&A and IR Clifford Skelton - President, CEO & Director Stephen Wood - EVP, CFO & Principal Accounting Officer Conference Call Participants Puneet Jain - JPMorgan Chase & Co. Zachary Ajzenman - Cowen and Company Operator Greetings, and welcome to the Conduent First Quarter 2022 Earnings Announcement. [Operator Instructions]. It is now my pleasure to introduce your host, G ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q _______________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37817 CONDUENT INCORPORATED ________________________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________ FORM 10-K _________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |--------------------------------------------------------------- ...

Conduent Inc. (NASDAQ:CNDT) Q4 2021 Results Conference Call February 16, 2022 5:00 PM ET Company Participants Giles Goodburn - VP, IR Cliff Skelton - President and CEO Steve Wood - CFO Conference Call Participants Shannon Cross - Cross Research Puneet Jain - JPMorgan Bryan Bergin - Cowen Operator Greetings. Welcome to the Conduent Q4 2021 Earnings Results Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Giles Goodburn, ...

Conduent Inc. (NASDAQ:CNDT) Q3 2021 Earnings Conference Call November 4, 2021 5:00 PM ET Company Participants Giles Goodburn - Vice President of Investor Relations Cliff Skelton - President, Chief Executive Officer & Director Steve Wood - Executive Vice President & Chief Financial Officer Conference Call Participants Shannon Cross - Cross Research Puneet Jain - JPMorgan Ashwin Shirvaikar - Citigroup Operator Greetings, and welcome to Conduent's Third Quarter 2021 Earnings Results Conference Call. At this ti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q _______________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37817 CONDUENT INCORPORATED ____________________________________________ ...

Conduent Inc. (NASDAQ:CNDT) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Company Participants Giles Goodburn – Vice President-Investor Relations Cliff Skelton – Chief Executive Officer Steve Wood – Chief Financial Officer Conference Call Participants Shannon Cross – Cross Research Puneet Jain – JPMorgan Operator Greetings, and welcome to the Conduent’s Second Quarter 2021 Earnings Results Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] I will n ...