Cognizant Technology Solutions Corporation · NASDAQ:CTSH
Cognizant Technology Solutions — Q3 2026 Earnings Presentation
20 slides from Cognizant Technology Solutions's earnings presentation, Oct 29, 2026
Slide 1: Third Quarter 2026 Financial Results and Highlights
Exhibit 99.3 Third Quarter 2026 Financial Results and Highlights © 2026 Cognizant October 29, 2026
Slide 2: Forward-looking statements
© 2026 Cognizant 1 Forward-looking statements This earnings supplement includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks, uncert
Slide 3: Results Summary: Q3 2026
© 2026 Cognizant 2 $1,227M $1,004M Q3 '25 Q3 '26 Results Summary: Q3 2026 1 See “About Non-GAAP Financial Measures and Performance Metrics” at the end of this earnings supplement for more information and reconciliations to the most directly comparable GAAP financial measures, as applicable. 2 Revenu
Slide 4: Q3 2026 highlights
© 2026 Cognizant 3 Q3 2026 highlights Adjusted Operating Margin1 1 Large deals are defined as deals with a total contract value of $100 million or greater. New/Expansion bookings now >60% of mix on TTM basis, up >10% points versus prior year Over $2.3 billion deployed on share repurchases and divide
Slide 5: Full-year 2026 and Q4 2026 Guidance
© 2026 Cognizant 4 Full-year 2026 and Q4 2026 Guidance1 1 Guidance is as of October 29, 2026 2 A full reconciliation of Adjusted Operating Margin, Adjusted Diluted EPS and Adjusted effective tax rate guidance to the corresponding GAAP measures on a forward-looking basis cannot be provided without un
Slide 6: Revenue, Operating Margin and EPS
© 2026 Cognizant 5 $5,115 $5,245 $5,415 $5,333 $5,413 $5,481 $5,664 $1.23 $1.31 $1.39 $1.35 $1.40 $1.37 $1.49 Revenue Adjusted Diluted EPS Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 $ in millions except per share amounts Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Revenue Y/Y1 7.5% 8.1% 7
Slide 7: Revenue Performance: Q3 2026
© 2026 Cognizant 6 $4,258 $1,057 $349 $1,767 $939 $1,371 $1,587 Revenue Performance: Q3 2026 Products & Resources Communications, Media & Technology Health Sciences Financial Services North America Europe Rest of World Segments $ in millions Geography $ in millions +10.5% Y/Y +10.7% Y/Y CC (0.9%) Y/
Slide 8: Health Sciences revenue by geography
© 2026 Cognizant 7 $1,319 $228 $40 Health Sciences North America Europe Rest of World (7.0%) Y/Y (7.6%) Y/Y CC (0.9%) Y/Y +0.2% Y/Y CC (0.9%) Y/Y and Y/Y CC Revenue $ in millions Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Y/Y 10.9% 6.2% 5.9% 5.2% 0.5% 1.4% (1.1%) Y/Y CC 11.4% 5.3% 5.1% 4.2% (0
Slide 9: Financial Services revenue by geography
© 2026 Cognizant 8 $1,279 $340 $148 Financial Services North America Europe Rest of World Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Y/Y 5.6% 6.9% 6.2% 10.5% 12.4% 12.0% 12.0% Y/Y CC 6.5% 6.0% 5.4% 9.3% 10.2% 11.7% 12.3% +11.3% Y/Y +12.4% Y/Y CC +3.0% Y/Y +3.8% Y/Y CC Revenue Change in Revenue
Slide 10: Products & Resources revenue by geography
© 2026 Cognizant 9 $961 $322 $88 North America Europe Products & Resources (1.7%) Y/Y and Y/Y CC (0.3%) Y/Y +0.2% Y/Y CC +7.3% Y/Y +6.2% Y/Y CC Rest of World Revenue $ in millions Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Y/Y 12.8% 16.0% 12.6% 1.8% 3.4% 1.2% (0.9%) Y/Y CC 13.6% 14.7% 11.4% 0.
Slide 11: Communications, Media & Technology revenue by geography
© 2026 Cognizant 10 +15.7% Y/Y and Y/Y CC $804 $841 $850 $808 $869 $854 $939 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 $699 $167 $73 Communications, Media & Technology North America Rest of World (16.1%) Y/Y (15.6%) Y/Y CC +5.0% Y/Y +5.8% Y/Y CC Europe Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '2
Slide 12: Trailing Twelve Month Bookings
© 2026 Cognizant 11 $27.5 $28.4 $29.6 $29.1 $28.7 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Trailing Twelve Month Bookings1 Trailing twelve month bookings of $28.7 billion increased 4% year-over-year and represented a book-to-bill of 1.3x Q3 2026 bookings decreased 7% year-over-year $ in billions 1 See “Ab
Slide 13: Employee Metrics
© 2026 Cognizant 12 Employee Metrics 336.3 343.8 349.8 351.6 357.6 356.7 359.9 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Trailing 12-Month Voluntary Attrition - Tech Services 12.0% 12.6% 12.6% 12.3% 12.3% 13.0% 12.6% Additional Employee Metrics
Slide 14: Cash Flow, Balance Sheet & Capital Allocation
© 2026 Cognizant 13 $600 $610 $616 $1,615 $1,313 $605 $1,378 $2,215 FY 2024 FY 2025 Trailing 12 Months Acquisitions Share Repurchases $151 $151 $159 $157 $149 $730 $604$463 $338 $444 $1,163 $270 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Cash Flow, Balance Sheet & Capital Allocation Q3 '25 Q4 '251 Q1 '26 Q2
Slide 15: APPENDIX: About Non-GAAP Financial Measures and Performance Metrics
APPENDIX: About Non-GAAP Financial Measures and Performance Metrics
Slide 16: About Non-GAAP Financial Measures and Performance Metrics
© 2026 Cognizant 15 Non-GAAP Financial Measures To supplement our financial results presented in accordance with GAAP, this earnings supplement includes references to the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: Adjusted Operating Margin, A
Slide 17: Reconciliations of Non-GAAP Financial Measures
© 2026 Cognizant 16 Reconciliations of Non-GAAP Financial Measures Please refer to page 17 through 19 of this earnings supplement for corresponding Non-GAAP notes. (in millions, except per share amounts) Three Months Ended: Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 202
Slide 18: Reconciliations: Notes
© 2026 Cognizant 17 Reconciliations of Non-GAAP Financial Measures Notes: (a) Project Leap charges for the three months ended September 30, 2026 were $51 million and included $46 million of employee separation costs and $5 million of other costs. During the third quarter of 2026, we revised our esti
Slide 19: Reconciliations: Notes and Tax Items
© 2026 Cognizant 18 Reconciliations of Non-GAAP Financial Measures (f) In July 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States, which, among other provisions, repealed the requirement to capitalize U.S. research and experimental ("R&E") costs. As a result, we conclude
Slide 20: Reconciliation of Free Cash Flow and Tax Rate
© 2026 Cognizant 19 Reconciliations of Non-GAAP Financial Measures Reconciliation of free cash flow Three Months Ended (in millions) Mar 31, 2025 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Sep 30, 2026 Net cash provided by operating activities $ 400 $ 398 $ 1,227 $ 858 $ 274 $
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