Concentrix at JPMorgan Conference: AI as Growth Catalyst

On Tuesday, 13 May 2025, Concentrix (NASDAQ:CNXC) participated in the 53rd Annual JPMorgan Global Technology, Media and Communications Conference. During the event, Concentrix’s CFO, Andre Valentine, provided a strategic overview of the company’s evolution into digital IT services and AI, while also addressing potential risks and opportunities. The discussion highlighted Concentrix’s target for an EBITDA margin of 16% to 16.5% and an expected free cash flow of $625 million to $650 million, underscoring both the positive outlook and the challenges posed by generative AI.

Key Takeaways

• Concentrix aims for an EBITDA margin of 16% to 16.5% and significant free cash flow this year.
• AI is viewed as an opportunity, not a threat, with strategic investments in generative AI.
• The company plans to return over $240 million to shareholders through share repurchases and dividends.
• Concentrix is targeting mid-single-digit growth by expanding ancillary services and product revenues.
• The company maintains long-term strategic relationships with top clients, averaging 17 years.

Financial Results

• Revenue: Concentrix is a leading business services outsourcing company with nearly $10 billion in revenue.
• EBITDA Margin: Targeted at 16% to 16.5%.
• Free Cash Flow: Expected between $625 million to $650 million this year.
• Capital Return: Over $240 million planned for shareholder returns, including $150 million for share repurchases and $90 million for dividends.
• Debt Management: Refinanced $700 million seller’s note due in September and issued $750 million of term loan debt, extending maturity to April 2028.

Operational Updates

• Growth Verticals: Focus on expanding in verticals with strong transaction volumes and gaining share in consumer electronics and travel.
• Strategic Investments: Continued investment in generative AI tools and the iX Hello platform to enhance customer experience.
• Client Relationships: Strong, long-term relationships with top 25 clients, averaging 17 years.
• New Business: High expectations for growth due to new business signed in fiscal year 24 and Q1.

Future Outlook

• Growth Strategy: Targeting mid-single-digit growth by accelerating ancillary services and product revenues.
• Debt Repayment: Continued focus on debt repayment and capital returns through buybacks and dividends.
• M&A Strategy: Opportunistic approach to mergers and acquisitions to enhance technological capabilities and expand client offerings.

Q&A Highlights

• AI Adoption: AI is seen as a tool to augment human advisors, with a focus on maintaining human oversight.
• Competitive Landscape: Competing with major firms like Accenture and TCS for transformative deals.
• Pricing Models: Gradual shift towards outcomes-based pricing, although most work remains time and materials-based.
• Market Perception: Addressed misconceptions about AI, emphasizing its role as a growth driver.

For more detailed insights, readers are encouraged to refer to the full transcript below.

Full transcript - 53rd Annual JPMorgan Global Technology, Media and Communications Conference:

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Afternoon. I’m Alok Mathapurkar, Managing Director of Tech Investment Banking with JPMorgan. We’re joined today by Andre Valentine, who is CFO of Concentrix, a leader in digital CX. Andre, to have you back.

Andre Valentine, CFO, Concentrix: Welcome back. It’s always great to be here. Look, thanks for having us. It’s been a great day.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Andre, I thought maybe we could start with an introduction and a brief overview of the company for those who are less familiar.

Andre Valentine, CFO, Concentrix: Yeah. Happy to do that. You know, it’s probably appropriate. We we only spun out from SYNNEX about four years ago. So maybe for some investors, still a fairly new story.

But we are a a nearly $10,000,000 business services outsourcing leader and kind of started with a heritage, if you will, in customer experience, but have invested both organically and inorganically over time to move into digital IT services, consulting, and most recently, AI products and services, all still around the CX space. We generate an EBITDA margin of 16% to 16.5% in that range, and we’ll generate free cash flow this year of $625,000,000 to $650,000,000 And so we’re very, very proud of those metrics. All of those metrics tend to be moving in the right direction. We will grow this year guiding to the top end of our growth guidance of 1.5% constant currency growth. From an investment perspective, we think we’re an underappreciated story.

If you look at where we trade, clearly generative AI risk is is an overhang for our stock. And yet, we see AI as as an opportunity for for our business just as we have all the other technologies that we’ve adapted to and evolved with over the last twenty years. And so we see AI as yet another tailwind for our business and we’re proving that each quarter as we continue to grow.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: On that note, Andre, a few of your peers reported recently. It feels like demand is stabilizing in the industry. What is your observation?

Andre Valentine, CFO, Concentrix: Ours would be exactly in line with that. It’s it’s been stable. I would not say that the macroeconomic backdrop is fantastic, but it’s about where it’s been. And with that, we’ve been able to grow in verticals where we aren’t seeing underlying transaction volume, we’re growing through share gains. And then where there are opportunities to grab growth due to underlying transaction volume, we’re aligned with the right clients and we’re growing with them.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: A lot of headlines around tariffs, potential downturn, a lot of potential gloom and doom. Are you seeing any impact in your business? Any anything clients are saying to you?

Andre Valentine, CFO, Concentrix: You you know, anecdotal evidence of some impact, yes. But it would when I step back at 30,000 feet, we’re really not seeing an impact. So interestingly, we provided our guidance at the end of our first quarter, ’4 days before the liberation day. And I’m not sure that sitting here today, would have guided any differently given what’s transpired. So things continue to be stable.

Tariffs are just part of that stable backdrop for us. And we’re just continuing to execute and try to deliver our

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: second quarter. Going back to 30,000 feet, how do you balance short term performance against long term innovation, especially in light of AI?

Andre Valentine, CFO, Concentrix: Yeah. The management team at Concentrix and the board are are quite aligned on this. We’re managing this business for the long term. And so a great example of that is the heightened investment we’ve made beginning in last year, our fiscal twenty four to productize. So we’ll first roll out across over half of our clients generative AI powered tools, and then productize those tools and bring them to market beginning late last year and starting to see some traction here this year.

Clearly, even with that, we’re able to, you know, grow margins, grow free cash flow. So that’s the balance we have. We’re managing this business for the long term, really trying to, you know, stay future proof the business, if you will, and and think about where the market is going. And you’ve seen that with not just what we’ve done with generative AI, but some past m and a transactions as well.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: And look, this is the TMZ, so we’ll talk a lot about AI. Do you see the competitive landscape changing in terms of whether competitors doing things more differently, even startups that are AI need is emerging? How do you see that?

Andre Valentine, CFO, Concentrix: Yeah. We we do see the landscape changing and and we we had the foresight, frankly, to see that it was going to change. If you look back at some of the transactions that we’ve done, you know, getting into the digital IT services space at scale by acquiring PK Global, the web help transaction, most recently, some of the, organic investment we’ve been making in software products and services. All of that is aimed at dealing with a changing competitive set. And so more and more now, when we compete for a deal, particularly a larger, more transformative deal, we’re not seeing our typical CX BPO, competitors.

We’re seeing Accenture, and we’re seeing TCS, and we hold our own against them because of the domain expertise that we have. As it relates to startups, you know, we we feel like we have a real advantage over them. We have, again, the experience that comes with delivering customer experience solutions at scale and doing that on a global basis. So that domain expertise is very important and helps us, we feel, positions us to to win against those startups as do the investments we’ve made in partnerships with leading brands like Microsoft, Google, and Salesforce.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Let’s talk a little bit more about that evolution beyond CX into tech services, BPO. Recently, you mentioned you’ve ancillary services, north of $1,000,000,000 that’s growing nicely. Your Catalyst business, that’s $800,000,000 Can you share can you elaborate more on what those services are and how do you see the growth playing out?

Andre Valentine, CFO, Concentrix: Yes. That $1,000,000,000 of revenue that we talked about on our Q4 earnings call is really a set of revenues that we have now at scale that we didn’t have at scale, call it, two to three years ago. Major components would be, b to b revenue generation services, data analytics, data annotation, financial crimes and compliance services such as, KYC or anti money laundering. All those things are new services. That cohort of revenue, call it a billion dollars or so, is growing mid single digits.

And frankly, part of our growth algorithm, to get to mid single digit growth is for those businesses to grow faster. We think the opportunity is there as we bring them to scale, and we’re investing to do that. You mentioned Catalyst. This is where we do our detailed, you know, engineering work, data engineering, implementation of CCaaS services, etcetera. Think of it as kind of a consultancy, if you will, and again, gives us a unique ability against our core CX BPO competitors where we can actually go in and design and build their CX platforms for them and do that at scale and also run it for them in our centers.

So that’s that’s a unique capability as we compete against kind of our traditional competitors.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Andre, you mentioned products before, and you launched your iX Hello platform in September 2024. Tell us what it is. Tell us also a little bit about your thinking behind going into products from a from a fundamental services company.

Andre Valentine, CFO, Concentrix: Yeah. So when generative AI became the the main point of conversation with our clients, what we noticed was our reluctance to to invest meaningfully with us in in in those capabilities. So we started investing and deploying the capability across our own centers. And we did that, and we’re at a point now where it’s deployed across over half of our clients. What happened then about a year, year and a half ago is our clients started to see the software running in our centers and running at scale and delivering kind of real world solutions using the technology, things that they they could understand and get their arms around and were very practical.

And so they indicated that they had an interest in perhaps licensing that software from us. We said, that’s great. That’s not how we developed this software. So we had to invest a little bit to make it multi tenant, make it more configurable and easier to deploy, and and we’ve done that. The software, the suite does three things.

We have either fully automates, workflows to drive a solution for a client or, you know, augments a human adviser to make them super efficient and effective and and proficient much faster. And lastly, around data, using data to drive a much more personalized customer experience as we interact with that customer on behalf of one of our client brands. And so that’s what the software does. It’s early days in terms of the uptake. We’re pleased at this point.

I will say that the financial model maybe has changed a little bit from what we first expected. First, we expected it to be solely a SaaS license model, and certainly, is some some of that, but, it’s also being bundled into, solutions for our clients where we’re also running, the customer experience. There’s a bit of a a bundling into the per unit rate. And we’re also seeing it play out a little bit in some gain share situations. So the economic model changing a bit perhaps versus our initial expectations, but again, early days and pleased so far.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: What kind of investments are you seeing you need to make to keep this going and grow it? And any any idea about the payoff period?

Andre Valentine, CFO, Concentrix: Yeah. So our thoughts on this are that we’ve been pretty clear with investors. We we want to we’ve invested very, very quickly to kind of get to market while we saw the opportunity. And so we think the run rate of investment we’re making right now is kind of the high watermark for that investment with some opportunity to rationalize it slightly as as we move forward. Where the payoff is is we actually start to see revenue generation here flowing through at, you know, margins that are significantly higher than our traditional margins.

And so that will start to offset some of that that run rate of investment. If and we’ve said this. If we don’t see that level of traction, there’s an ability to rationalize the investment forward. Rationalize the investment a bit more than that I would play. Yeah.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: And then under zooming out a little bit, know, Chad GPT burst onto the scene, you know, end of twenty twenty two. How has your view evolved on the impact to your business, to your industry? And so the ancillary of that is, you know, how do you where do you see the opportunity?

Andre Valentine, CFO, Concentrix: Yeah. So as it relates to when when ChadGPT came out, you know, our point of view at that point in time was we very much want to be on our front foot and help clients implement the technology. And that’s exactly what we’ve done. We also understood, because we understand the technology, that the pace of adoption would be probably slower than expected, and that the depth of automation would be different than some of the cases that were out there. And I would say that’s very much how it has played out.

What we are seeing is a real focus in using generative AI primarily to augment a human advisor. We’re seeing a real reluctance to turn the technology loose in the wild without a human in the loop. And where most of the full deployment to drive full automation is happening, it’s actually happening to replace earlier technologies, earlier automation technologies, and do it in a grander and more effective way. And so that’s really how it’s playing out. We’re seeing clients, come to that point of view as well.

We’re also starting to see investors understand that this is likely how it’s gonna play out. From an opportunity perspective, you know, again, we’re very much on the front foot in helping our clients implement the technology. So in our Catalyst business, we’re doing systems implementation work to and consulting work to deploy the technology. And we’re also seeing opportunities to help clients with the the the tuning, training of the models, etcetera. And so, for these reasons, we continue to see generative AI as a tailwind for the business.

Sure. Automation will continue. That’s been going on in the industry for for quite a while. We don’t see generative AI significantly increasing the pace or depth of automation versus technologies that we’ve deployed before.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: What hurdles do you see to adoption? And look, in the past when you were here, talked about security concerns, assimilation, privacy, technology, that of getting

Andre Valentine, CFO, Concentrix: I think you’re answering my question. Yeah. Think he’s answered the

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: question. Yeah.

Andre Valentine, CFO, Concentrix: No. That that that that’s exactly change? I I don’t really think so. I I I do think you see a number of reports out there that say, look, you know, there have been all these proof of concepts, all this and a lot of them just fail, and they fail around concerns about just the things that you’ve mentioned, data privacy security, hallucinations, and so forth. And that’s why, you know, we’ve seen this pivot, the pivot that we expected, that is that most of the technology is being deployed with a human in the loop to drive a better customer experience more efficiently and get that human advisor to a level of proficiency much faster.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: And then as you see potentially a delinking to headcount of revenue, do you see the engagement with clients changing from, you know, T and M to outcome based or fixed price?

Andre Valentine, CFO, Concentrix: You know, outcomes based pricing has been talked about in this industry for well over a decade now, and it has been a very, very slow evolution. And even though I mentioned back when I was talking about our IX suite of services that the gain sharing is a way that we get compensated for the deployment of the software, the vast majority of the work that we do both that we do today that is in our pipeline is still very much time and materials based at some rate times a unit. On the fringes, yes, we’re seeing, more openness towards, some level of outcomes based pricing, gain sharing, transaction based pricing where we say, you know, capture some of the efficiencies as we deliver. But that that evolution is is continues to be very

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: slow. Alright. In your recent calls, you’ve talked about the benefits of share gains. Are there a set of companies you’re taking share from or what is driving that?

Andre Valentine, CFO, Concentrix: Yeah. So one of the things that we’ve said would happen is we kind of went into a wouldn’t call it a downturn, but whatever the economy has been going through for what feels like the last three years, is that as clients had volumes that were stable or maybe even down a bit, they would look to consolidate volumes with less providers. And and that’s if you look at our history and how we built the company, we’ve invested to win in investor in client consolidation. And as we’ve talked about on our recent earnings calls, we’re winning those opportunities at about an 80% clip. And we’ve made investments in capabilities, in security, and in a global footprint that really positions us to win.

And and by the way, we do this work for our clients, and we do it really, really well. So obviously, we’re stack ranked number one or two. They’re gonna consolidate work with us. We’re winning work from a combination of middle tier providers who aren’t able to make the same investments we are, maybe don’t bring the same domain expertise around generative AI that we do, and we’re winning against boutiques who maybe can’t scale or provide the global footprint that we do. And so we’re winning from both the smaller providers as well as that mid tier.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Got it. Last couple of quarters, consumer oriented verticals just travel, consumer tech were quite strong. Do you see that sustain? And longer term, do you see the vertical mix shifting?

Andre Valentine, CFO, Concentrix: You know, we we have a very diverse mix of verticals, and and they take turns leading the charge for us. You know, right now, doing quite well in ecommerce and and travel. We see that continuing, albeit, you know, there’s a combination there of underlying volumes and share gains and new logo wins, particularly as it relates to travel. In consumer electronics, we’ve said, look, we’re not really seeing underlying volume strength there, but we are gaining share with some of our larger clients in that sector. Again, for just the reasons I talked about, the fact that we do the work well, we do it for them in, you know, any country in the world they want it done and can provide depth of services and breadth of capabilities that are really unmatched.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Andre, I’d like to turn to capital allocation. And you mentioned M and A, and you’ve clearly been a leading consolidator in the sector. What is your approach going to be towards M and A? And are there any guiding principles there?

Andre Valentine, CFO, Concentrix: Yeah. I think that the first guiding principle starts with what would we look to add in M and A. And, you know, about a year and a half ago, we closed on our combination with WebHelp, which really kind of rounded out our global footprint, added a great client mix, as well as some capabilities. I think we’re kind of with that transaction behind us and now fully integrated, we’re kind of done with the need to expand footprint through M and A or the need to go for scale for scale’s sake. So things that would interest us would be, you know, client sets that we believe we could sell our, unique set of capabilities into and grow.

We would look for strength in a particular vertical, and we would look at strength in a particular horizontal offering, and we’d look for adding technological capabilities. But I think right now, you know, very focused on making the sticking to the commitments we made in terms of capital allocation to using our strong free cash flow to pay down debt and get our leverage levels down.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: You partially refinance your debt in April. Would you share your thinking behind that?

Andre Valentine, CFO, Concentrix: Yeah. So a couple of things. We went to the market because we have a seller’s note, a note back due back to the sellers of WEM Health that is due in September of this year. And we wanted to have certainty about our ability to meet that obligation. So we went to the market and entered into a deferred draw term loan that will effectively fund when that that seller’s notes, $700,000,000 a year of note, when that’s due.

So we’ve got that off the table. At the time, opportunistically, banks expressed interest in providing credit to us. Right? It was as simple as that. So opportunistically, we took the opportunity to issue $750,000,000 of term loan debt that was at parity with our existing term loan obligation and use that $750,000,000 to pay down the a portion of our existing term loan.

So in the process, we moved the maturity of July of term loan debt from December of ’twenty six into April of ’twenty eight, which just seemed like a good thing to do. We think we’ll generate enough free cash flow from now till the end of twenty twenty six when that term loan is due to pay it off or get very close to that and certainly can take care of it at that point.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: You mentioned return of capital. I’d like to double click on that. I think you plan to return over $240,000,000 of shareholder to shareholders in fiscal year twenty twenty five through repos and buybacks. Given the perception that your own shares are undervalued, but those also of your peers, how do you balance that?

Andre Valentine, CFO, Concentrix: Yes. The good news is the strong free cash flow that we generate gives us the opportunity to do multiple things. And so of the $625,000,000 of free cash flow we’ll generate this year, the $6.25 to $6.50, we’ll use a hundred and 50 roughly for share repurchases. We think obviously that’s a very accretive use of the cash. We have a dividend that will reuse up roughly $90,000,000 of cash.

So that’s $2.40 of capital return to shareholders, leaving still the majority of our free cash flow for a debt repayment, which again is in line with the commitment we made when we closed or announced the acquisition with combination with WebHelp. And so we’re kind of doing that. We also think that making progress and bringing leverage down will enhance our profile to new investors. We hear often from new investors that current leverage levels give them some pause in in getting involved in the story. So we think that’s an opportunity for us.

Clearly, we do think our shares are undervalued. And so hence, we are buying back the $150,000,000 of shares this year. As it relates to M and A, that’s something we’ll look at opportunistically. But right now, the focus and this is what we said when we combined with WebHelp, the focus for the first two years, paying down debt with some level of capital return through a buyback and dividend.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: That’s clear. Couple of questions on business performance. Do you have any exposure to US government revenue?

Andre Valentine, CFO, Concentrix: We really don’t. So we don’t have any contracts with the US government.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Any thoughts on growth and margins for H2?

Andre Valentine, CFO, Concentrix: Yeah. So, you know, we’ve about our guide this year and I always said that we’ve tried to be conservative with this. The reason we’re conservative, by the way, is we don’t think we’re actually being valued based on our guide. We believe that if you look at our valuation, we’re being valued as if we could see revenues decrease. And so, you know, why not be conservative with your guide in in that in that setting?

So it’s saying that we’re being conservative with the guide. We’re very much focused on delivering the high end of our guide. So it’s all a long way of saying, you know, if you look at what we delivered in Q1 at 1.3%, if you look at our guide for Q2 at the high end, it’s a 25 basis points of growth. That would imply some level of modest acceleration of growth if we’re going to hit the 1.5% that’s the high end of our guide for the year. And that’s what we’re focused on trying to achieve.

We think we can do that based on new business that we signed late in fiscal twenty four and new business that we signed here in Q1 and the strong pipeline we entered Q2 with. After we close out Q2, we won’t be looking to it takes a while for a new sign to turn into revenue in this business. So it will largely be baked as we exit the quarter. And then feelings about growth also are underpinned by our clients’ forward volume forecasts for us, which they’ve gotten quite accurate in their forecast there.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: We’ve got a wide range of topics. Let me just pause to see if there’s any questions from the audience. Okay. Let’s keep going. So on a looking ahead, what areas do you believe will drive growth for Concentrix and for the industry?

What is it that you find most exciting in terms of future prospects? And how is that influencing your investment decisions?

Andre Valentine, CFO, Concentrix: Yeah. I think, you know, the the I’ve been in this business for a long time. Right? And it just evolves. Right?

And so I think we’re gonna continue to evolve with a client need and with the technological capabilities that are at our disposal. And so things that have me excited, certainly, we’ve already talked about that $1,000,000,000 cadre of revenue that, you know, is kind of very ancillary services, and we think we can grow that and grow that faster, and and they’ll be more impactful as it gets to scale. I think you’ll also see and we’ve seen a little bit of this larger transformational deals where we are taking ownership of more of an end to end process for a client. We talked a bit about a on our third quarter earnings call last year about a major win with a US financial services company where we’re literally taking over their business, if you will, their business processes in a non US country, where we are doing everything from the designing the process, implementing the system, and then running their business there on their behalf. And I think those types of things give us are exciting to us.

Obviously, our IX product suite is something we’re excited about. We’re excited about seeing that grow and be accretive to margins over time. Those would be things that I’d list. Yeah, that would

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: be it. I think you touched on this as you were doing the introduction. But what is the one misperception misperception or misunderstanding of Concentrix that you would like to hear?

Andre Valentine, CFO, Concentrix: Yeah. I probably did touch on it, which is the the overhang that generative AI has created for the stock. You know, Concentrix has been around for twenty years, and we’ve lived through many technologies that were gonna be, you know, gonna have a negative impact on our our our top line. And they all had an impact on our business. Speech recognition IVR had an impact.

Mobile apps had an impact. RPA, machine learning AI, now generated by AI, they all have an impact. Impact. We evolve with them. The other impact it drives is clients don’t really want to figure this out themselves, and they turn to trusted partners.

And, know, if you look at our top 25 clients, they’ve been clients for seventeen years on average. So these are long term, very strategic relationships. As each of these technologies have come about, they’ve led to more outsourcing. They’ve led to more overall contacts between between a brand and their customers. And we think that just continues.

And so we continue to see technology as as a tailwind for our business, and we’re here to maximize that. As you help

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: clients navigate their challenges, AI related or otherwise, do you feel you have the people or to go out and find them or it’s a combination?

Andre Valentine, CFO, Concentrix: You know, I think largely we have we have the people. Now, obviously, we are more successful in certain areas, we’ll have to scale up to have more people to deliver the service. But the I think we have the gray matter in the areas we need to around AI products, the partnership relationships that we’ve talked about, etcetera, to drive revenue.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Good. Any questions from the audience? Any questions from anyone online? Hearing none. One last closing question.

Andre, anything else that we have not asked you that you wish the audience to?

Andre Valentine, CFO, Concentrix: Not really. This conversation has been a lot like the conversations we’ve been having all day with investors. I just think we’re pleased to be here. We’re very, very optimistic about the year and about the future. We’ve talked about path to getting to mid single digit growth.

We haven’t talked about that too much here today, but certainly part of that is growing that $1,000,000,000 of revenue at a faster rate, seeing a contribution from product revenues, etcetera. We believe that while we’re not guiding to that certainly for this year or next, it’s out there for us in the relatively near term. And we think that will unlock a real opportunity for investors when we get there. Because I think right now, in the low single digit growth, economic backdrop, generative AI overhang, I think all those things get better if we can grow just a bit faster. And that’s what the team is executing towards every day.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Excellent. Any final questions from the audience? Good. Hearing none. It’s a wrap.

Andre Valentine, CFO, Concentrix: Very good.

Alok Mathapurkar, Managing Director of Tech Investment Banking, JPMorgan: Thank you very much.

Andre Valentine, CFO, Concentrix: Thank you very much. It’s a pleasure.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.