Ci&T, Inc. ( (CINT) ) has released its Q3 earnings. Here is a breakdown of the information Ci&T, Inc. presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
CI&T, Inc. is a global technology transformation specialist, offering services in artificial intelligence, strategy, customer experience, software development, and more, primarily targeting large enterprises and fast-growing clients. The company operates across nine countries with a team of over 6,700 professionals, and is recognized by Forrester as a leader in modern application development services.
In its latest earnings report for the third quarter of 2024, CI&T reported a record net revenue of R$ 622.2 million, a 17.6% increase compared to the same period in 2023, with a sequential growth of 10% over the second quarter of 2024. This performance underscores the company’s strong business model and its growing traction among top clients.
Key financial highlights include a 5.6% increase in net profit to R$ 28.6 million and a significant 32.9% rise in adjusted net profit to R$ 56.5 million. The adjusted EBITDA improved by 24.2% to R$ 121.4 million, with an adjusted EBITDA margin of 19.5%. CI&T’s workforce saw an 8.3% increase, ending the quarter with 6,755 employees.
The company experienced net revenue growth across all regions, with North America contributing the largest share at 45.8%. Investments in the sales team and restructuring expenses were noted as part of CI&T’s strategy to optimize its global delivery model.
Looking ahead, CI&T projects a 22% year-over-year revenue growth for the fourth quarter of 2024, reflecting confidence in sustaining its momentum. The company is well-positioned to capitalize on the growing demand for innovative solutions, committed to delivering exceptional value and fostering long-lasting client relationships.
