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, 2023 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 1-8729 UNISYS CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-0387840 (State or other jurisdict ...

Financial Data and Key Metrics - Third quarter revenue increased 0.7% year-over-year as reported but declined 1.4% in constant currency [7] - Excluding License & Support (Ex-L&S), revenue grew 6.2% year-over-year or 4.1% in constant currency [7] - License & Support revenue was $67 million in Q3, significantly higher than the $50 million expectation [8] - Year-to-date revenue was $1.46 billion, up 2.5% year-on-year or 3.1% in constant currency [21] - Third quarter GAAP net loss was $50 million, compared to a loss of $40 million a year ago [23] - Non-GAAP net loss was $22 million or a loss of $0.33 per share [23] - Cash balances were $385 million as of September 30th, compared to $392 million at the end of 2022 [24] Business Line Performance - Digital Workplace Solutions (DWS) segment revenue was $141 million, up 6.2% year-over-year [55] - Cloud Applications & Infrastructure (CA&I) segment revenue was $134 million, up 8.7% year-over-year [55] - Enterprise Computing Solutions (ECS) segment revenue declined 14.2% year-over-year [55] - Next-Gen specialized services and Next-Gen compute solutions within ECS grew 5.2% year-over-year [39] - License & Support revenue within ECS declined 25.3% year-over-year due to timing of renewals [39] Market Performance - New scope and new logo Total Contract Value (TCV) increased 22% sequentially [2] - Next-generation pipeline grew 50% year-over-year [3] - Qualified Ex-L&S pipeline is up 18% versus a year ago, with 47% of pipeline TCV in next-generation offerings [18] - Modern workplace pipeline has more than tripled over the last 12 months [57] Strategic Direction and Industry Competition - The company is building an ecosystem of specialized public sector software partners [5] - Unisys is focusing on AI, including generative AI, and services related to enterprise AI adoption [5] - The company launched Unisys Logistics Optimization, a solution combining AI, quantum computing, and industry expertise [6][30] - Unisys is infusing generative AI into its industry solutions and internal functions like HR [31] Management Commentary on Operating Environment and Future Outlook - The company raised full-year 2023 revenue guidance to 0% to 1.5% growth in constant currency [72] - Full-year profitability guidance was raised to a non-GAAP operating margin of 5% to 6% and adjusted EBITDA margin of 12.5% to 13.5% [44] - The company expects full-year 2023 free cash flow to be in the range of negative $25 million to negative $30 million [33] - Management highlighted strong client consumption trends and increased usage of ClearPath Forward systems [36][46] Other Important Information - The company is investing in talent development, with a trailing 12-month voluntary attrition rate of 13.3%, down from 18.9% a year ago [13] - Unisys won four prestigious HR awards during the quarter, recognizing excellence in diversity, hiring, and leadership [38] - The company is targeting SG&A reductions to bring SG&A down to 16% to 17% of revenue by 2026 [59] Q&A Session Summary Question: Connection between TCV and revenue outlook - The company raised revenue guidance based on year-to-date performance, not just TCV growth [27][62] - October TCV signings already exceeded the entire Q3 TCV, indicating a strong Q4 [29] Question: Employee experience market and AI opportunities - The company is seeing strong demand in the employee experience market, with discussions focusing on productivity and value [63][67] - AI-related opportunities are driving cross-sell opportunities across business units [67] Question: October bookings activity and macro trends - The strong October bookings were driven by the timing of sales cycles and not necessarily macro trends [76][77] Question: L&S revenue outperformance and future outlook - Q3 L&S revenue outperformance was $17 million, with additional upside from an extended contract signed in October [87] - The company expects L&S revenue to average $360 million annually over the next three to five years [35][105] Question: Consumption volumes and margins in L&S - Consumption margins are similar to overall L&S business margins [83] - Longer-term contracts are not significantly discounted and often come with pricing increases upon renewal [70] Question: New logo acquisition trends - The company expects an uptick in new logo acquisitions in Q4 and is seeing momentum in its go-to-market strategy [101][109]

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 June 30, 2023 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 1-8729 UNISYS CORPORATION (Exact name of registrant as specified in its charter) Indicate by check mark whether the registrant has ...

Financial Data and Key Metrics Changes - Total company revenue for Q2 2023 was $477 million, a decline of 7.4% year-over-year and 6.3% in constant currency, primarily due to lower license and support (L&S) revenue within the Enterprise Computing Solutions (ECS) segment [5][19][27] - Excluding L&S, second quarter revenue was $396 million, reflecting a strong year-over-year increase of 6.5% in constant currency [6][20] - The second quarter gross margin was 24.3%, down from 28.8% in Q2 2022, while the gross margin excluding L&S improved to 16% from 10.4% year-over-year [25][27] Business Line Data and Key Metrics Changes - Digital Workplace Solutions (DWS) segment revenue grew 7.7% year-over-year, driven by expanded engagements with existing clients [21] - Cloud Application and Infrastructure (CA&I) segment revenue increased 2.6% year-over-year, with growth in commercial sector clients offsetting a decline in financial services clients [21] - ECS segment revenue, which includes L&S and Specialized Services & Next-Gen Compute (SS&C), declined 27% year-over-year, while SS&C grew 14.5% year-over-year [22] Market Data and Key Metrics Changes - The trailing 12-month ex-L&S book-to-bill ratio was 1.0x, unchanged from the previous quarter, indicating stable contract signings [7] - New and expanded scopes within existing clients grew total contract value (TCV) by 14% year-over-year, despite a 4% decline in TCV year-over-year due to lower signings with new logos [7][58] Company Strategy and Development Direction - The company is focusing on next-generation solutions, which include Modern Workplace, Digital Platforms & Applications, and Specialized Services & Next-Gen Compute, with a 55% larger pipeline compared to the previous year [4][11] - Generative AI is seen as a significant market opportunity, with the company adapting to new tools and technologies released by hyperscalers and enterprise software companies [5][12] Management's Comments on Operating Environment and Future Outlook - Management noted that financial services clients remain cautious, impacting new investments, but activity levels picked up in June [7][29] - The company reaffirmed its full-year revenue guidance, expecting a decline of 3% to 7%, with ex-L&S revenue projected to range from a decline of 1% to growth of 4% [23][24] Other Important Information - The company reported a net loss of $40 million for Q2 2023, compared to a loss of $17 million in the same quarter last year [27] - Free cash flow for Q2 was positive at $25 million, with expectations to align with 2022's negative free cash flow of approximately $75 million [28][52] Q&A Session Summary Question: Any changes in long-term financial projections? - Management stated that long-term financial projections remain unchanged since the June Investor Day, despite recent activity increases [32] Question: Can you elaborate on the pickup in activity? - Management indicated that the increase in activity is attributed to both internal efforts and broader industry changes, with a significant increase in the new logo pipeline [34][35] Question: What caused the labor productivity jump? - Management highlighted improvements in attrition rates and ongoing automation efforts as key factors contributing to increased labor productivity [39] Question: What is the gross margin profile of the Next-Gen portfolio? - Next-Gen margins are targeted to be in the 25% range, with a focus on achieving 50 basis points of expansion annually until 2026 [44] Question: Are there any renewals that may not be economically viable? - Management confirmed that there are no current renewals that are deemed unworthy, with a strong renewal rate exceeding 95% [48]

Unisys Corporation (NYSE:UIS) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET Company Participants Michaela Pewarski – Vice President of Investor Relations Peter Altabef – Chair and Chief Executive Officer Deb McCann – Chief Financial Officer Mike Thomson – Chief Operating Officer Conference Call Participants Rod Bourgeois – DeepDive Equity Research Pallav Saini – Canaccord Genuity Anja Soderstrom – Sidoti Matthew Galinko – Maxim Group Operator Good morning, and welcome to the Unisys Corporation Fir ...

| --- | --- | |------------------------|-----------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | First Quarter | Peter Altabef Chair and CEO | | 2023 Financial Results | Deb McCann CFO | | | | | | MAY 02, 2023 | | --- ...

PART I - FINANCIAL INFORMATION Presents the unaudited consolidated financial statements, management's discussion, market risk, and controls for the quarter [Item 1. Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements%20(Unaudited)) Presents Q1 2023 and 2022 unaudited consolidated financial statements, detailing income, balance sheets, cash flows, and notes, with revenue growth and a significant pension settlement charge [Consolidated Statements of Income (Loss)](index=4&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) Unisys reported a 15.6% revenue increase and operating income turnaround in Q1 2023, but a larger net loss due to a substantial increase in other expenses Consolidated Statements of Income (Loss) (Millions, except per share data) | Metric | Q1 2023 | Q1 2022 | Change (YoY) | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$516.4** | **$446.7** | **+15.6%** | | Services Revenue | $403.9 | $392.1 | +3.0% | | Technology Revenue | $112.5 | $54.6 | +106.0% | | **Operating Income (Loss)** | **$49.9** | **($23.5)** | **N/A** | | Other (expense), net | ($196.9) | ($21.0) | +837.6% | | **Consolidated Net Loss** | **($174.5)** | **($57.0)** | **+206.1%** | | **Diluted Loss Per Share** | **($2.58)** | **($0.85)** | **+203.5%** | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Total assets remained stable at $2,066.4 million as of March 31, 2023, with a shift to positive stockholders' equity driven by comprehensive loss adjustments Consolidated Balance Sheet Highlights (Millions) | Metric | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $391.9 | $391.8 | | Total current assets | $977.7 | $930.4 | | **Total Assets** | **$2,066.4** | **$2,065.6** | | Total current liabilities | $652.8 | $650.5 | | Long-term debt | $490.1 | $495.7 | | Long-term postretirement liabilities | $697.3 | $714.6 | | **Total Liabilities** | **$2,012.4** | **$2,043.8** | | **Total Equity** | **$54.0** | **$21.8** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2023 saw positive cash from operating activities at $12.8 million, a significant improvement from the prior year, with stable cash balances Cash Flow Summary (Millions) | Cash Flow Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash provided by (used for) operating activities | $12.8 | ($33.0) | | Net cash used for investing activities | ($11.5) | ($21.7) | | Net cash used for financing activities | ($7.6) | ($11.2) | | **Decrease in cash, cash equivalents and restricted cash** | **($2.2)** | **($59.7)** | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Detailed notes disclose a $183.2 million pension settlement loss, strong ECS segment growth, and ongoing litigation matters in Brazil - In March 2023, the company purchased a group annuity contract for approximately **$265 million** to transfer pension obligations, resulting in a pre-tax settlement loss of **$183.2 million**[30](index=30&type=chunk) - The company is involved in various litigation matters in Brazil concerning indirect taxes and labor disputes, with unreserved tax-related matters estimated up to approximately **$111 million**[81](index=81&type=chunk) - A securities class action complaint was filed against the company in November 2022, alleging false or misleading statements regarding business prospects and internal controls[82](index=82&type=chunk) Segment Revenue and Gross Profit (Millions) | Segment | Q1 2023 Revenue | Q1 2022 Revenue | Q1 2023 Gross Profit | Q1 2022 Gross Profit | | :--- | :--- | :--- | :--- | :--- | | DWS | $131.0 | $124.8 | $15.6 | $16.0 | | CA&I | $126.0 | $129.1 | $16.4 | $7.0 | | ECS | $188.2 | $120.6 | $125.5 | $62.8 | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2023 financial results, highlighting revenue growth driven by ECS, a widened net loss due to pension settlement, and stable liquidity [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Total revenue grew 15.6% year-over-year, primarily from ECS software license renewals, improving gross profit margin, but a net loss due to a pension settlement - Overall revenue increased **15.6% YoY**, primarily due to higher software license renewals within the Enterprise Computing Solutions (ECS) segment[95](index=95&type=chunk) - ECS segment revenue increased **56.1% YoY**, and its gross profit margin expanded to **66.7%** from **52.1%**[112](index=112&type=chunk) - DWS segment revenue increased **5.0%** due to recent contract signings, while CA&I revenue declined **2.4%**[110](index=110&type=chunk)[111](index=111&type=chunk) - A pre-tax settlement loss of **$183.2 million** related to a U.S. defined benefit pension plan was a major contributor to the net loss in Q1 2023[93](index=93&type=chunk)[102](index=102&type=chunk) [Financial Condition](index=26&type=section&id=Financial%20Condition) Liquidity is supported by cash on hand and an ABL credit facility, with positive cash from operations and continued pension de-risking efforts - Principal sources of liquidity are cash on hand (**$391.9 million**), cash from operations, and a revolving credit facility[113](index=113&type=chunk)[114](index=114&type=chunk) - Cash provided by operations was **$12.8 million**, compared to a usage of **$33.0 million** in the prior-year period, driven by higher Technology collections[116](index=116&type=chunk) - As of March 31, 2023, the company had no borrowings under its ABL credit facility, with **$6.6 million** of letters of credit outstanding and **$64.0 million** of availability[123](index=123&type=chunk) - The company expects to make cash contributions of approximately **$40 million** to its international pension plans in 2023 and does not expect mandatory contributions to its U.S. plans until 2025[120](index=120&type=chunk)[121](index=121&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material change in market risk assessment since the 2022 Annual Report on Form 10-K - There has been no material change in the company's assessment of its sensitivity to market risk since its 2022 Form 10-K filing[130](index=130&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed ineffective as of March 31, 2023, due to material weaknesses in information communication policies - The CEO and CFO concluded that the company's disclosure controls and procedures were not effective as of March 31, 2023, due to material weaknesses[131](index=131&type=chunk) - The material weaknesses relate to ineffective policies and procedures for ensuring timely communication from the IT, legal, and compliance functions to the accounting function regarding financial reporting[133](index=133&type=chunk) - Remediation steps were implemented in Q4 2022, including enhancing policies and the disclosure committee, but management cannot yet conclude on their operating effectiveness as of March 31, 2023[136](index=136&type=chunk)[137](index=137&type=chunk) PART II - OTHER INFORMATION Covers legal proceedings, risk factors, and the exhibit index for the reporting period [Item 1. Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings information is incorporated by reference from Note 13 of the Consolidated Financial Statements - Information regarding legal proceedings is detailed in Note 13 of the Notes to Consolidated Financial Statements[139](index=139&type=chunk) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) No significant changes to the risk factors disclosed in the 2022 Annual Report on Form 10-K - There have been no significant changes to the company's risk factors since its 2022 Annual Report on Form 10-K[140](index=140&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents and CEO/CFO certifications - The Exhibit Index lists all documents filed with the report, including certifications from the CEO (Peter A. Altabef) and CFO (Debra McCann) as required by the Sarbanes-Oxley Act[148](index=148&type=chunk)

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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 38-0387840 (I.R.S. Employer Identification No.) 801 Lakeview Drive, Suite 100 Blue Bell, Pennsylvania 19422 (215) 986-4011 (Address, zip code and telephone number, including area code o ...

Unisys Corp (NYSE:UIS) Q4 2022 Earnings Conference Call February 23, 2023 8:00 AM ET Company Participants Michaela Pewarski - VP, IR Peter Altabef - Chairman & CEO Debra McCann - EVP & CFO Michael Thomson - President & COO Conference Call Participants Rod Bourgeois - DeepDive Equity Research Joseph Vafi - Canaccord Genuity Matthew Galinko - Maxim Group Operator Good morning, and welcome to the Unisys Fourth Quarter and Full Year 2022 Financial Results Conference Call. [Operator Instructions]. I would now li ...

Financial Data and Key Metrics Changes - Total company revenue was $461 million in Q3 2022, down 5.5% year-over-year, but up 0.3% in constant currency [38] - The gross profit margin decreased by 340 basis points year-over-year to 22.6% [45] - The company reported a net loss of $40.1 million or $0.59 per diluted share compared to a net loss of $18.7 million or $0.28 per diluted share in the prior year [50] Business Line Data and Key Metrics Changes - Digital Workplace Solutions (DWS) revenue declined 4% year-over-year, but grew 12.2% when excluding non-strategic contracts exited in 2021 [39] - Cloud Applications and Infrastructure Solutions (CA&I) revenue grew 8.1% year-over-year, driven by growth in Digital Platforms and Applications (DP&A) [40] - Enterprise Computing Solutions (ECS) revenue declined 3% year-over-year due to a light ClearPath Forward license renewal quarter [41] Market Data and Key Metrics Changes - The qualified pipeline was approximately $6 billion, representing a growth of 25% year-over-year [36] - The total contract value in the quarter was up 31% year-over-year [37] - The pipeline for Modern Workplace solutions exceeded $400 million, more than doubling year-over-year [16] Company Strategy and Development Direction - The company is focusing on higher value solutions in the areas of Modern Workplace and Digital Platforms and Applications [9][63] - A new brand identity and marketing campaign is expected to launch in Q4 2022, aimed at increasing market awareness and driving sales metrics [31][32] - The company anticipates that approximately half of DWS revenues will come from Modern Workplace by 2025 [16] Management's Comments on Operating Environment and Future Outlook - Management noted unexpected challenges since the last earnings call, primarily macroeconomic factors affecting revenue and profitability guidance [33][42] - The company revised its full-year revenue growth guidance to a range of negative 1% to positive 1% on a constant currency basis [44] - Management expressed confidence in the pipeline and client engagement despite macroeconomic uncertainties [68] Other Important Information - The company is implementing a cost reduction program, with a pre-tax charge expected between $50 million and $60 million in Q4 [52] - The company is conducting an internal investigation regarding disclosure controls, which may result in material weaknesses in internal control over financial reporting [61][62] - The company expects to require cash contributions to its defined benefit pension plans beginning in 2025, averaging approximately $100 million annually for eight years [58] Q&A Session Summary Question: What is causing the slowdown in revenue guidance? - Management indicated a mix of contract delays and smaller contract sizes due to economic uncertainty [66][67] Question: How much of the guidance is due to currency impacts? - Foreign exchange had about a 100 basis point impact on the as-reported revenue guidance [70] Question: Are there any verticals performing better or worse than others? - Management did not identify any specific verticals performing significantly better or worse than expectations [74] Question: Has the pipeline become more ripe for deals? - The pipeline is described as more ripe, with significant growth in total contract value and backlog [79] Question: Can you elaborate on the cost reduction plan? - The cost reduction plan includes real estate right-sizing, asset retirement, and workforce actions [80] Question: Are there any changes to the licensing model for ClearPath Forward? - Management remains open to clients moving to a more as-a-service model, which could shift revenue from licensing and support to specialized services [82] Question: Will the rebranding campaign be delayed due to macro conditions? - Management confirmed that the rebranding campaign is still on track for Q4 launch, emphasizing its importance for growth [88][89] Question: Are there risks of more unprofitable contracts emerging? - Management does not foresee any concerning contracts in the upcoming renewal schedule [93]