Concentrix(US:CNXC)2021-07-29 05:22Q2 2021 Performance - Revenue was $46.3 million, a decrease of $1.3 million or 2.8% year-over-year, but a 2.9% sequential increase from Q1 2021[12] - Non-GAAP Cost of Revenue was $33.2 million, favorably down $0.1 million, or 0.2%, year-over-year[14] - Non-GAAP Gross Profit decreased by 180 bps year-over-year[11, 14] - Adjusted EBITDA was $(0.2) million, an increase of $0.3 million year-over-year[11, 17] Business Highlights - The company successfully renewed or extended approximately 97% of the contract value that was up for renewal during the first six months of the year[9, 11] - New bookings increased by approximately 7% year-over-year on a trailing twelve-month basis[9] - The company signed expansions with three of its top ten clients, each exceeding $1 million of expected contract value[10] Financial Position - Cash balance was $34.8 million, a decrease of $1.7 million compared to the previous quarter[18] - Debt remained unchanged at $15.0 million compared to the previous quarter[18] - Free Cash Flow decreased by $3.1 million year-over-year to $(1.5) million[18] Future Outlook - The company expects to report year-over-year revenue growth in the third or fourth quarter[20]