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]

UNÍSYS © 2021 Unisys Corporation. All rights reserved. | Third-Quarter 2022 Financial Results Peter Altabef, Chair & CEO Deb McCann, CFO November 8, 2022 | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Data and Key Metrics Changes - Total company revenue grew 2.8% year-over-year in constant currency or remained flat as reported [43] - Total company ACV grew 25% year-over-year, with DWS ACV growing 15% and CA&I ACV growing 63% year-over-year [25][47] - Total company gross profit was $148 million, up 4.1% year-over-year, with a gross margin of 28.8%, up 130 basis points [54] Business Line Data and Key Metrics Changes - Digital Workplace Solutions (DWS) revenue decreased 11.7% year-over-year in constant currency, but excluding exited contracts, it grew 5.7% [48] - Cloud Applications and Infrastructure (CA&I) revenue grew 8.7% year-over-year in constant currency, driven by higher-margin digital platforms and applications [46] - Enterprise Computing Solutions (ECS) segment saw 11.3% year-over-year constant currency growth due to early renewals of ClearPath Forward licenses [44] Market Data and Key Metrics Changes - Total company pipeline grew 30% year-over-year, with DWS pipeline increasing by 20% and CA&I pipeline growing by 45% [26] - The pipeline for Modern Workplace and digital platforms and applications now amounts to approximately $1 billion of the total $6 billion pipeline [27] Company Strategy and Development Direction - The company is focusing on higher growth, higher margin solutions in digital workplace and cloud applications [8][14] - A brand transformation is planned to enhance awareness and engagement, launching in Q4 2022 [30] - The company aims to stabilize labor costs and improve internal talent deployment through career development programs [32] Management's Comments on Operating Environment and Future Outlook - Management noted that demand drivers such as digital transformation and hybrid work models remain robust, but signings have been slower than expected due to macroeconomic uncertainties [36][37] - Revenue and profitability guidance for the year has been lowered due to delayed signings and foreign exchange impacts, but growth is still expected in the second half [52][60] Other Important Information - The company announced a goal of net zero greenhouse gas emissions for Scope 1 and 2 by 2030 [35] - A recent cyberattack incident is being addressed with no service disruptions reported [35] Q&A Session Summary Question: Update on pension in light of market conditions - Management indicated that the accounting deficit for the pension plan is expected to improve due to higher discount rates, but cash contributions may be required depending on market conditions [70][72] Question: Causes of signing delays - Management attributed signing delays to macroeconomic uncertainties rather than internal processes, with a significant portion of revenue being long-term contracts [73][76] Question: Target margins on new contracts - Management confirmed that target margins for new contracts are higher than in previous years, driven by a shift to higher-margin work [82][85] Question: Distinction in customer needs for new deals - Management noted that successful deals often involve comprehensive solutions rather than one-off services, leading to richer contracts [107] Question: ECS renewals timing - Management explained that some ECS renewals were signed earlier than anticipated, contributing to better-than-expected results for the segment [110]

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, 2022 ☐ 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) (State or other jurisdiction of incorporation or orga ...

Financial Data and Key Metrics Changes - The company's revenue declined by 12.4% year-over-year, which was in line with expectations, while on a constant currency basis, the decline was 10.3% [39][40] - Non-GAAP net loss was $27.3 million or $0.41 per diluted share compared to non-GAAP net income of $29.8 million or $0.46 per diluted share in the prior year [60] - The total company backlog as of March 31 was down slightly to $2.9 billion from $3 billion at year-end [49] Business Line Data and Key Metrics Changes - Digital Workplace Solutions (DWS) annual contract value (ACV) grew 65% year-over-year, while revenue was impacted by exited non-strategic contracts [13][44] - Cloud and Infrastructure (C&I) revenues grew 7% year-over-year, with cloud revenue specifically increasing by 43% year-over-year [18][47] - Enterprise Computing Solutions (ECS) revenue was $121 million, slightly better than internal expectations, but lower year-over-year due to fewer contracts scheduled for renewal [40][48] Market Data and Key Metrics Changes - Total company ACV grew 43% year-over-year, with total company total contract value (TCV) up 5% year-over-year [23] - The DWS pipeline increased by 14% year-over-year and 29% sequentially, while the C&I pipeline grew 40% year-over-year [24][25] - The weighted average expected gross margin associated with contracts signed in the first quarter was higher than the prior year period [25] Company Strategy and Development Direction - The company is focusing on enhancing its solution portfolio and increasing market awareness to drive new business signings and wallet share from existing clients [11][41] - A new branding strategy is underway, expected to roll out in the second half of the year to differentiate the company in the market [28] - The company is deploying an account-based marketing strategy to target high-value prospects and increase revenue from existing clients [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the significant increase in new business signed in the first quarter and expects momentum to accelerate in the second half of the year [37][38] - The company anticipates improving revenue trends as it moves beyond the headwinds of exited contracts [48] - Management acknowledged the competitive labor market and is focusing on talent attraction and retention initiatives [29][31] Other Important Information - The company received an upgrade from MSCI to an A rating and achieved an 80% reduction in greenhouse gas emissions, exceeding its 2026 objective five years early [32][33] - The CFO announced his transition to a new role as president and COO, with a new CFO set to join the company [34][35] Q&A Session Summary Question: What drove the increase in ACV and pipeline? - Management noted that the revenue decline was expected, and the increase in ACV was driven by a diverse set of deals rather than a few large contracts [70][76] Question: Are you pursuing sole source deals or competitive bids? - A significant portion of signings are expansion extensions, which tend to be sole source, while larger deals are mostly competitively bid [86] Question: Is the revenue guidance impacted by DWS client softness or weaker license renewals? - The guidance reflects both factors, with a notable impact from the existing client base's conversion appetite [87] Question: How is the competitive environment changing? - The company does not have operations in Russia or Ukraine but is looking to recruit IT professionals from Ukraine [92] Question: How did the contract scope evolve with the client? - The contract began as an ECS relationship and expanded to include DWS and C&I solutions, showcasing successful cross-selling efforts [96]

© 2021 Unisys Corporation. All rights reserved. | First Quarter 2022 Financial Results Peter Altabef, Chair & CEO Mike Thomson, CFO April 27, 2022 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

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 ☐ 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) (State or other jurisdiction of incorporation or org ...