WNS(US:WNS)2024-07-18 10:25Revenue Performance - Revenue in Q1 was $323.1 million, down 1.0% YoY and 4.1% sequentially[12] - Revenue less repair payments in Q1 was $312.4 million, down 1.6% YoY and 4.1% sequentially[12] - Revenue (GAAP) for Q2 2024 was $323.1 million, a decrease of 1.0% compared to Q2 2023 and a decrease of 4.1% compared to Q1 2024[25] - Revenue less repair payments (non-GAAP) for Q2 2024 was $312.4 million, a decrease of 1.6% compared to Q2 2023 and a decrease of 4.1% compared to Q1 2024[25] - Revenue less repair payments is expected to be between $1,290 million and $1,354 million for fiscal 2025, up from $1,284.3 million in fiscal 2024[27] Profit and Income Metrics - Profit in Q1 was $28.9 million, compared to $32.0 million in Q1 of last year and $14.5 million last quarter[13] - Adjusted Net Income (ANI) in Q1 was $44.0 million, compared to $51.1 million in Q1 of last year and $53.9 million last quarter[6] - Adjusted diluted earnings per share in Q1 was $0.93, compared to $1.02 in Q1 of last year and $1.12 last quarter[4] - Adjusted operating income (non-GAAP) for Q2 2024 was $57.6 million, a decrease of 9.7% compared to Q2 2023 and a decrease of 15.5% compared to Q1 2024[25] - Adjusted net income (non-GAAP) for Q2 2024 was $44.0 million, a decrease of 13.9% compared to Q2 2023 and a decrease of 18.4% compared to Q1 2024[26] - Adjusted diluted earnings per share (non-GAAP) for Q2 2024 was $0.93, a decrease of 8.8% compared to Q2 2023 and a decrease of 17.0% compared to Q1 2024[26] - Adjusted net income is expected to range between $203 million and $215 million for fiscal 2025, compared to $218.0 million in fiscal 2024[27] - Adjusted diluted earnings per share is expected to be in the range of $4.42 to $4.68 for fiscal 2025, compared to $4.42 in fiscal 2024[27] Client and Workforce Growth - Added 8 new clients and expanded 36 existing relationships in Q1[4] - Global headcount was 60,513 as of June 30, 2024[4] - WNS had 60,513 professionals across 64 delivery centers worldwide as of June 30, 2024[29] Financial Position and Liquidity - Days sales outstanding (DSO) was 36 days in Q1, compared to 34 days in Q1 of last year and 33 days last quarter[14] - Total assets increased to $1,497.6 million as of June 30, 2024, compared to $1,434.1 million as of March 31, 2024[34] - Current assets rose to $595.2 million from $529.7 million, driven by increases in cash and cash equivalents ($83.9 million to $87.4 million) and investments ($217.3 million to $156.5 million)[34] - Accounts receivable increased to $128.9 million from $124.6 million, indicating growth in revenue recognition[34] - Short-term borrowings surged to $73.0 million from $40.0 million, reflecting increased liquidity needs[34] - Current portion of long-term debt rose to $56.6 million from $36.7 million, signaling higher near-term debt obligations[34] Guidance and Future Expectations - Updated guidance for fiscal 2025 reflects growth in revenue less repair payments of 0% to 5% on both reported and constant currency basis[16] - Capital expenditures for fiscal 2025 are expected to be up to $65 million[16] - The company cannot provide forward-looking GAAP revenue, profit, and EPS due to uncertainties in repair payments, share-based compensation, and currency fluctuations[38] Non-GAAP Measures and Definitions - Revenue less repair payments is a non-GAAP measure used to reflect the value addition of business process management services[35] - Adjusted operating margin and ANI (Adjusted Net Income) are non-GAAP measures excluding items like goodwill impairment and share-based compensation[36] Corporate Events - WNS will host a conference call on July 18, 2024, at 8:00 am (Eastern) to discuss the company's quarterly results[28]