What CI&T (CINT) Said on Its Q3 Earnings Call

Résumé détaillé

CI&T (NYSE:CINT) reported record third-quarter revenue of $146.3 million, up 14.9% from a year earlier, as the technology services company said a shift toward AI-enabled delivery…

CI&T (NYSE:CINT) reported record third-quarter revenue of $146.3 million, up 14.9% from a year earlier, as the technology services company said a shift toward AI-enabled delivery and outcome-based contracts helped expand its margins.

Revenue growth was entirely organic and exceeded the company's outlook of at least $145.7 million. Growth was 11.2% at constant currency. CI&T raised the low end of its full-year revenue forecast, while management said uncertainty around currency movements and the timing of pipeline conversion contributed to a range of roughly $10 million in its fourth-quarter outlook.

Adjusted gross margin rose to 36.6%, up 420 basis points from the second quarter and 270 basis points from a year earlier. Adjusted EBITDA was $22.6 million, up 19.1% sequentially, with the margin increasing to 15.5% from 13.3%.

Founder and CEO Cesar Gon attributed the gross margin improvement primarily to AI monetization. CI&T said 40% of new engagements signed in the third quarter used value-based commercial models, up from 30% in the first half. Those contracts pay the company for output or outcomes rather than billed hours.

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During the question-and-answer session, Gon said the figure was 75% for sales to new clients. He also said work under the new delivery models carries gross margins averaging 8 to 10 percentage points above traditional time-and-materials contracts.

Founder and President Bruno Guicardi said revenue per AI builder reached $82,500 over the last 12 months, up 10% from a year earlier. CI&T ended the quarter with about the same number of AI builders as a year earlier, while revenue increased, he said. CFO Stanley Rodrigues said total headcount grew 1.8% year over year.

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Adjusted EBITDA fell 3.9% from the prior-year quarter, which Rodrigues attributed to the stronger Brazilian real.

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