Genpact LTD

CIK:0001398659|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 1,343,438	$ 1,254,418	$ 2,639,510	$ 2,469,344
Cost of revenue	853,100	804,350	1,677,504	1,590,282
Gross profit	490,338	450,068	962,006	879,062
Operating expenses:
Selling, general and administrative expenses	294,129	266,393	564,466	507,477
Amortization of acquired intangible assets	3,287	4,317	6,399	8,637
Other operating (income) expense, net	(20)	(44)	(384)	(156)
Income from operations	192,942	179,402	391,525	363,104
Foreign exchange gains, net	2,109	376	9,411	1,665
Interest income (expense), net	(15,147)	(13,485)	(26,749)	(24,931)
Other income (expense), net	10,979	10,445	10,690	12,123
Income before income tax expense	190,883	176,738	384,877	351,961
Income tax expense	45,146	44,022	91,148	88,392
Net income	$ 145,737	$ 132,716	$ 293,729	$ 263,569
Earnings per common share
Basic (in USD per share)	$ 0.86	$ 0.76	$ 1.73	$ 1.51
Diluted (in USD per share)	$ 0.86	$ 0.75	$ 1.71	$ 1.48
Weighted average number of common shares used in computing earnings per common share
Basic (in shares)	169,068,546	174,611,241	169,688,011	175,069,775
Diluted (in shares)	170,425,796	177,052,346	171,635,487	177,743,745

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 293,729	$ 263,569
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,000	34,089
Amortization of debt issuance costs	1,414	1,105
Amortization of acquired intangible assets	6,399	8,637
Allowance for credit losses (refer to Note 4)	9,410	18,363
Unrealized (gain)/loss on revaluation of foreign currency assets/liabilities	786	3,068
Stock-based compensation expense	48,632	41,834
Deferred tax (benefit) expense	(649)	9,307
Others, net	116	(89)
Change in operating assets and liabilities:
Increase in accounts receivable	(175,331)	(58,694)
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets	(111,828)	(69,358)
Increase (Decrease) in accounts payable	(12,096)	9,561
Decrease in accrued expenses, other current liabilities, operating leases liabilities and other liabilities	(55,938)	(63,608)
Increase in income taxes payable	9,264	20,017
Net cash provided by operating activities	48,908	217,801
Investing activities
Purchase of property, plant and equipment	(37,855)	(44,201)
Payment for internally generated intangible assets (including intangibles under development)	(16,093)	(2,987)
Payment for business acquisitions, net of cash acquired	0	(80,621)
Proceeds from sale of property, plant and equipment	3,717	30
Proceeds from maturity of short term investments	350,000	23,359
Net cash provided by (used for) investing activities	299,769	(104,420)
Financing activities
Repayment of finance lease obligations	(3,826)	(4,487)
Payment of debt issuance and refinancing costs	(394)	0
Repayment of long-term debt	(363,250)	(13,250)
Proceeds from short-term borrowings	0	85,000
Proceeds from issuance of common shares under stock-based compensation plans	5,118	9,345
Payment for net settlement of stock-based awards	(22,096)	(30,874)
Dividend paid	(63,325)	(59,408)
Payment of earn-out consideration	(77,500)	0
Payment for stock repurchased and retired (including expenses related to stock repurchased)	(120,007)	(92,999)
Net cash used for financing activities	(645,280)	(106,673)
Net (decrease) increase in cash and cash equivalents	(296,603)	6,708
Effect of exchange rate changes	(39,846)	8,306
Cash and cash equivalents at the beginning of the period	853,836	648,246
Cash and cash equivalents at the end of the period	517,387	663,260
Supplementary information
Cash paid during the period for interest	36,928	29,790
Cash paid during the period for income taxes, net of refund	$ 84,244	$ 52,192

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 517,387	$ 853,836
Short-term investments	0	350,000
Accounts receivable, net of allowance for credit losses of $21,220 and $22,097 as of June 30, 2026 and December 31, 2025, respectively	1,402,815	1,240,550
Prepaid expenses and other current assets	250,552	211,981
Total current assets	2,170,754	2,656,367
Property, plant and equipment, net	184,437	190,448
Operating lease right-of-use assets	197,788	181,708
Deferred tax assets	255,068	258,789
Intangible assets, net	73,273	67,040
Goodwill	1,768,862	1,781,116
Contract cost assets	189,393	197,419
Other assets, net of allowance for credit losses of $13,438 and $10,659 as of June 30, 2026 and December 31, 2025, respectively	573,521	510,380
Total assets	5,413,096	5,843,267
Current liabilities
Current portion of long-term debt	26,201	376,027
Accounts payable	16,093	27,533
Income taxes payable	51,789	43,074
Accrued expenses and other current liabilities	930,964	1,103,625
Operating lease liabilities	62,717	52,221
Total current liabilities	1,087,764	1,602,480
Long-term debt, less current portion	1,154,056	1,166,274
Operating lease liabilities	154,415	150,667
Deferred tax liabilities	10,645	21,081
Other liabilities	401,419	353,364
Total liabilities	2,808,299	3,293,866
Shareholders' equity
Preferred shares, $0.01 par value, 250,000,000 authorized, none issued	0	0
Common shares, $0.01 par value, 500,000,000 authorized, 168,028,805 and 170,341,479 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	1,673	1,696
Additional paid-in capital	2,050,128	2,018,985
Retained earnings	1,500,595	1,390,164
Accumulated other comprehensive income (loss)	(947,599)	(861,444)
Total equity	2,604,797	2,549,401
Commitments and contingencies
Total liabilities and equity	$ 5,413,096	$ 5,843,267