Financial Analysis

NOTE 13COMMITMENTS AND CONTINGENCIES: From time to time, the Company receives notices from third parties, including customers and suppliers, seeking indemnification, payment of money, or other actions in connection with claims made against them. Also, from time to time, the Company has been involved in various bankruptcy preference actions where the Company was a supplier to the companies now in bankruptcy. In addition, the Company is subject to various other claims, both asserted and unasserted, that arise in the ordinary course of business. The Company evaluates these claims and records the related liabilities. It is possible that the liabilities ultimately incurred by the Company could differ from the amounts recorded. The Company does not believe that the above commitments and contingencies will have a material adverse effect on the Companys results of operations, financial position or cash flows. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 8BORROWINGS: Borrowings consist of the following: As of November 30, 2025 2024 Credit Facility - current portion of term loans component $ 65,625 $ Other loans 2,522 Current portion of long-term debt $ 65,625 $ 2,522 6.650% Senior Notes due 2026 $ 800,000 $ 800,000 6.600% Senior Notes due 2028 800,000 800,000 6.850% Senior Notes due 2033 550,000 550,000 Credit Facility - term loans component 1,900,000 1,500,000 Securitization Facility 537,000 371,000 Sellers Note 740,466 Other loans 3,643 Long-term debt, before unamortized debt discount and issuance costs 4,587,000 4,765,109 Less: unamortized debt discount and issuance costs (14,111) (32,053) Long-term debt, net $ 4,572,889 $ 4,733,056 Senior Notes On August 2, 2023, the Company issued and sold (i) $800,000 aggregate principal amount of 6.650% Senior Notes due 2026 (the 2026 Notes), (ii) $800,000 aggregate principal amount of 6.600% Senior Notes due 2028 (the 2028 Notes) and (iii) $550,000 aggregate principal amount of 6.850% Senior Notes due 2033 (the 2033 Notes and, together with the 2026 Notes and 2028 Notes, the Senior Notes). The Senior Notes were sold in a registered public offering pursuant to the Companys Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated July 19, 2023, to a Prospectus dated July 17, 2023. The Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of August 2, 2023 (the Base Indenture), between Concentrix and U.S. B …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents the Companys revenue disaggregated by primary industry verticals: Fiscal Years Ended November 30, 2025 2024 2023 Industry vertical: Technology and consumer electronics $ 2,666,072 $ 2,674,040 $ 2,205,834 Retail, travel and e-commerce 2,433,885 2,361,866 1,448,666 Communications and media 1,592,373 1,527,922 1,117,694 Banking, financial services and insurance 1,536,223 1,455,641 1,091,853 Healthcare 725,283 727,389 696,266 Other 871,935 872,042 554,393 Total $ 9,825,771 $ 9,618,900 $ 7,114,706 The following table presents the Companys revenue by geographical locations where the Companys services are delivered. Shown below are the countries that account for the Companys revenue for the periods presented: Fiscal Years Ended November 30, 2025 2024 2023 Revenue by geography: Philippines $ 1,594,559 $ 1,596,578 $ 1,585,878 India 1,126,061 1,054,460 898,250 United States 1,051,700 1,110,763 1,304,797 Great Britain 356,490 394,945 205,437 Germany 334,293 388,005 232,729 Canada 302,085 307,590 317,410 Others 5,060,583 4,766,559 2,570,205 Total $ 9,825,771 $ 9,618,900 $ 7,114,706 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

NOTE 3SHARE-BASED COMPENSATION: In November 2020, TD SYNNEX Corporation (TD SYNNEX), as the former sole stockholder of Concentrix, approved the Concentrix Corporation 2020 Stock Incentive Plan (the Concentrix Stock Incentive Plan) and the Concentrix Corporation 2020 Employee Stock Purchase Plan (the Concentrix ESPP), each to be effective upon completion of Concentrix spin-off from TD SYNNEX, which occurred on December 1, 2020. 4,000 shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan, and 1,000 shares of Concentrix common stock were authorized for issuance under the Concentrix ESPP. In December 2021, 2022 and 2023, respectively, 523, 520, and 664 additional shares of Concentrix common stock were reserved for issuance under the Concentrix Stock Incentive Plan resulting from an automatic annual increase pursuant to the terms of the plan (the Evergreen Provision). On October 28, 2024, the stockholders of Concentrix approved an amendment and restatement of the Concentrix Stock Incentive Plan (the 2020 Plan) at a Special Meeting of Stockholders that (i) increased the number of authorized shares thereunder by 3,000 shares and (ii) removed the Evergreen Provision, among other amendments. The amendment and restatement of the Concentrix Stock Incentive Plan was previously approved by the Companys board of directors. The Company recorded share-based compensation expense of $97,875, $95,922, and $62,493 for the fiscal years ended Novemb …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE 7FAIR VALUE MEASUREMENTS: Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Companys assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). Th …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 5GOODWILL AND INTANGIBLE ASSETS: Goodwill The Company tests goodwill for impairment annually on the first day of its fourth fiscal quarter and at other times if events have occurred or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable. Goodwill impairment testing is performed at the reporting unit level. Based on the current year assessment, the Company concluded that no impairment charges were necessary for the Companys reporting unit as of its annual impairment testing date of September 1, 2025. Subsequent to September 1, 2025, the Company experienced a sustained decrease in the market price of its common stock resulting in the market capitalization being significantly less than the carrying value of the reporting unit. After considering all available evidence in the evaluation of goodwill impairment indicators, the Company determined it appropriate to perform an interim quantitative assessment as of November 1, 2025. The quantitative impairment testing performed consisted of the income and market approach and was reconciled to the Companys market capitalization. The income approach applied a fair value methodology to our reporting unit based on discounted cash flows. This analysis requires significant judgments and assumptions, including estimation of our future cash flows, which is dependent on internally developed forecasts, including future levels of revenue growth, and adjusted earnings before interest, taxes, depreciati …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 12INCOME TAXES: The sources of income (loss) before the provision for income taxes are as follows: Fiscal Years Ended November 30, 2025 2024 2023 United States $ (775,986) $ 4,279 $ (51,820) Foreign (406,236) 294,995 460,048 Total income (loss) before income taxes $ (1,182,222) $ 299,274 $ 408,228 Provision for income taxes consists of the following: Fiscal Years Ended November 30, 2025 2024 2023 Current tax provision: Federal $ 81,553 $ 89,987 $ 78,961 State 28,394 7,734 11,064 Foreign 141,632 185,584 126,072 $ 251,579 $ 283,305 $ 216,097 Deferred tax benefit: Federal $ (77,575) $ (104,236) $ (97,371) State (9,809) (20,462) (12,850) Foreign (67,493) (110,550) (11,490) (154,877) (235,248) (121,711) Total income tax provision $ 96,702 $ 48,057 $ 94,386 The following presents the breakdown of net deferred tax liabilities after netting by taxing jurisdiction: As of November 30, 2025 2024 Deferred tax assets $ 317,453 $ 218,396 Deferred tax liabilities 296,519 312,574 Total net deferred tax asset (liability) $ 20,934 $ (94,178) Net deferred tax liabilities consist of the following: As of November 30, 2025 2024 Assets: Net operating losses $ 172,819 $ 172,182 Accruals and other reserves 87,492 78,308 Depreciation and amortization 120,727 107,095 U.S. interest limitation carry forward 88,219 49,481 Share-based compensation expense 24,402 17,714 Deferred revenue 5,764 5,280 Tax credits 5,516 5,082 Foreign tax credit 9,610 5,199 Operating lease liabilities 202,480 201,266 Interc …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 11LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2036. The Companys finance leases are not material. The following table presents the various components of operating lease costs: Fiscal Years Ended November 30, 2025 2024 2023 Operating lease cost $ 323,427 $ 295,111 $ 216,774 Short-term lease cost 69,823 89,001 21,802 Variable lease cost 53,709 44,237 58,283 Sublease income (2,959) (4,492) (5,394) Total operating lease cost $ 444,000 $ 423,857 $ 291,465 The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of November 30, 2025: Fiscal Years Ending November 30, 2026 $ 312,965 2027 251,660 2028 192,770 2029 129,777 2030 71,067 Thereafter 86,524 Total payments 1,044,763 Less: imputed interest* 146,580 Total present value of lease payments $ 898,183 *Imputed interest represents the difference between undiscounted cash flows and discounted cash flows. The following amounts were recorded in the consolidated balance sheets related to the Companys operating leases: As of November 30, Description Balance Sheet location 2025 2024 Operating lease ROU assets Other assets $ 857,025 $ 816,550 Current operating lease liabilities Other accrued liabilities 256,739 235,912 Non-current operating lease liabilities Other long-term liabilities 641,444 625,888 The following table pre …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Accounting pronouncements recently issued In November 2023, the Financial Accounting Standards Board (the FASB) issued accounting standards update (ASU) 2023-07, which enhances the disclosures required for reportable segments in annual and interim consolidated financial statements. The Company adopted this ASU during the fiscal year ended November 30, 2025. See Note 16Segment Reporting for more information. In December 2023, the FASB issued ASU 2023-09, which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid. The amendments in ASU 2023-09 are effective for the Company for the fiscal year ending November 30, 2026. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. ASU 2024-03 is effective for the Company for annual reporting periods beginning with the fiscal year ending November 30, 2028 and for interim periods beginning in fiscal year 2029. Early adoption is permitted. The amendments in this ASU may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that this update will have on i …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 10PENSION AND EMPLOYEE BENEFITS PLANS: The Company has a 401(k) plan in the United States under which eligible employees may contribute up to the maximum amount as provided by law. Employees become eligible to participate in the 401(k) plan on the first day of the month after their employment date. The Company may make discretionary contributions under the plan. Employees in most of the Companys non-U.S. legal entities are covered by government mandated defined contribution plans. During fiscal years 2025, 2024 and 2023, the Company contributed $127,611, $105,087 and $89,767, respectively, to defined contribution plans. Defined Benefit Plans For eligible employees in the United States, the Company maintains a frozen defined benefit pension plan (the cash balance plan), which includes both a qualified and non-qualified portion. The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund. The Company maintains funded or unfunded defined benefit pension or retirement plans for certain eligible employees in the Philippines, Malaysia, India, and France. Benefits under these plans are primarily based on years of service and compensation during the years immediately preceding retirement or termination of participation in the plans. The Companys measurement date for all define …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 9REVENUE: Disaggregated revenue The following table presents the Companys revenue disaggregated by primary industry verticals: Fiscal Years Ended November 30, 2025 2024 2023 Industry vertical: Technology and consumer electronics $ 2,666,072 $ 2,674,040 $ 2,205,834 Retail, travel and e-commerce 2,433,885 2,361,866 1,448,666 Communications and media 1,592,373 1,527,922 1,117,694 Banking, financial services and insurance 1,536,223 1,455,641 1,091,853 Healthcare 725,283 727,389 696,266 Other 871,935 872,042 554,393 Total $ 9,825,771 $ 9,618,900 $ 7,114,706 The following table presents the Companys revenue by geographical locations where the Companys services are delivered. Shown below are the countries that account for the Companys revenue for the periods presented: Fiscal Years Ended November 30, 2025 2024 2023 Revenue by geography: Philippines $ 1,594,559 $ 1,596,578 $ 1,585,878 India 1,126,061 1,054,460 898,250 United States 1,051,700 1,110,763 1,304,797 Great Britain 356,490 394,945 205,437 Germany 334,293 388,005 232,729 Canada 302,085 307,590 317,410 Others 5,060,583 4,766,559 2,570,205 Total $ 9,825,771 $ 9,618,900 $ 7,114,706 Deferred revenue contract liabilities and deferred costs to obtain or fulfill a contract are not material. …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

NOTE 16SEGMENT REPORTING: The Company operates as one operating segment. The Company's CODM is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income (loss) and operating income (loss) to assess financial performance, allocate resources, and make key operating decisions. The following table presents selected financial information, including significant segment expenses, with respect to the Companys single operating segment for the fiscal years ended November 30, 2025, 2024 and 2023: Fiscal Years Ended November 30, 2025 2024 2023 Revenue $ 9,825,771 $ 9,618,900 $ 7,114,706 Cost of revenue (1) 6,359,357 6,150,666 4,535,003 Selling, general and administrative expenses (2) 1,997,095 1,913,309 1,397,914 Acquisition-related, integration and restructuring expenses 101,468 156,771 69,674 Share-based compensation expense 97,875 95,922 62,493 Amortization of intangible assets 434,332 458,925 214,832 Impairment charges 1,527,726 Depreciation expense 226,101 246,920 173,463 Operating income (loss) (918,183) 596,387 661,327 Interest expense and finance charges, net 290,349 321,828 201,004 Other expense (income), net (26,310) (24,715) 52,095 Provision for income taxes 96,702 48,057 94,386 Net income (loss) $ (1,278,924) $ 251,217 $ 313,842 ( 1) Exclusive of depreciation expense and acquisition-related, integration and restructuring expenses. (2) Exclusive of depreciation expense, amortization of …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expense during the reporting period. The Company evaluates these estimates on a regular basis and bases them on historical experience and on various assumptions that the Company believes are reasonable. Actual results could differ from the estimates. Segment reporting Concentrix operations are based on an integrated global delivery model whereby services under a client contract in one location may be provided from delivery centers located in one or more different countries, with a significant portion of the Companys workforce located in the Philippines and India. Given the homogeneity of end-to-end solutions and technology and the integrated delivery model, the Company operates in a single operating segment, based on how the chief operating decision maker (CODM) views and evaluates the Companys operations in making operational and strategic decisions and assessments of financial performance (including for purposes of allocating resources and assessing performance). The Companys President and Chief Executive Officer has been identified as the CODM. Cash equivalents The Company considers all highly liquid d …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 15STOCKHOLDERS EQUITY: Share repurchase program In September 2021, the Companys board of directors authorized the repurchase of up to $500,000 of the outstanding shares of Concentrix common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. In January 2025, the Companys board of directors extended the share repurchase program by authorizing an increase of the amount remaining for share repurchases under the existing share repurchase authorization to $600,000. The repurchase program has no termination date and may be suspended or discontinued at any time. During the fiscal years ended November 30, 2025 and 2024 under the share repurchase program, the Company repurchased 3,557 and 2,201 shares, respectively, of its common stock for an aggregate purchase price of $168,708 and $136,096, respectively. The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes. At November 30, 2025, approximately $439,468 remained available for share repurchases under the existing authorization from the Companys board of directors. During December 2025, the Company repurchased 256 shares of Concentrix common stock under the repurchase program for an aggregate purchase price of $9,911. Dividends During fiscal years 2025 and 2024, the Company paid the following dividends per share approved by the Companys board of directors: A …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

COMMITMENTS AND CONTINGENCIES: From time to time, the Company receives notices from third parties, including customers and suppliers, seeking indemnification, payment of money, or other actions in connection with claims made against them. Also, from time to time, the Company has been involved in various bankruptcy preference actions where the Company was a supplier to the companies now in bankruptcy. In addition, the Company is subject to various other claims, both asserted and unasserted, that arise in the ordinary course of business. The Company evaluates these claims and records the related liabilities. It is possible that the liabilities ultimately incurred by the Company could differ from the amounts recorded. The Company does not believe that the above commitments and contingencies will have a material adverse effect on the Companys results of operations, financial position or cash flows. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

BORROWINGS: Borrowings consist of the following: As of May 31, 2026 November 30, 2025 Credit Facility - current portion of term loans component $ 450,000 $ 65,625 6.650% Senior Notes due 2026 (August) 200,000 Current portion of long-term debt $ 650,000 $ 65,625 6.650% Senior Notes due 2026 $ $ 800,000 6.600% Senior Notes due 2028 800,000 800,000 6.500% Senior Notes due 2029 600,000 6.850% Senior Notes due 2033 550,000 550,000 Credit Facility - term loans component 1,387,500 1,900,000 Securitization Facility 612,500 537,000 Long-term debt, before unamortized debt discount and issuance costs 3,950,000 4,587,000 Less: unamortized debt discount and issuance costs (15,126) (14,111) Long-term debt, net $ 3,934,874 $ 4,572,889 Senior Notes On February 24, 2026, the Company issued and sold $600,000 aggregate principal amount of 6.500% Senior Notes due 2029 (the 2029 Notes). The 2029 Notes were sold in a registered public offering pursuant to the Companys Registration Statement on Form S-3, which became effective upon filing, and a Prospectus Supplement dated February 12, 2026, to a Prospectus dated July 17, 2023. The Company used the net proceeds from the sale of the 2029 Notes, together with other available funds, to redeem $600,000 of its 6.650% Senior Notes due 2026 (the 2026 Notes), of which $800,000 aggregate principal amount was outstanding immediately before giving effect to such redemption. The Company recorded debt extinguishment costs of $6,268 associated with the early red …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents the Companys revenue disaggregated by primary industry verticals: Three Months Ended Six Months Ended May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 Industry vertical: Technology and consumer electronics $ 624,244 $ 662,719 $ 1,259,333 $ 1,320,411 Retail, travel and e-commerce 640,795 583,782 1,290,158 1,167,680 Communications and media 392,255 392,963 786,271 763,963 Banking, financial services and insurance 432,388 384,015 853,993 749,208 Healthcare 151,869 176,386 330,699 366,191 Other 220,922 217,506 442,410 422,140 Total $ 2,462,473 $ 2,417,371 $ 4,962,864 $ 4,789,593 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

SHARE-BASED COMPENSATION: The Company recognizes share-based compensation expense for all share-based awards made to employees and directors, including restricted stock awards, restricted stock units, and performance-based restricted stock units based on estimated fair values. In January 2026, the Company granted 213 restricted stock units and 279 performance-based restricted stock units under the Concentrix Corporation Amended and Restated 2020 Stock Incentive Plan, as amended (the 2020 Plan), which included annual awards to the Companys senior executive team. The restricted stock units had a grant date weighted-average fair value of $41.76 per share and vest ratably over a service period of three years. The performance-based restricted stock units had a grant date weighted-average fair value of $37.84 per share and will vest, if at all, upon the achievement of certain financial targets during the three-year period ending November 30, 2028. The Company recorded share-based compensation expense of $25,367 and $26,862 for the three months ended May 31, 2026 and 2025, respectively. The Company recorded share-based compensation expense of $54,822 and $53,462 for the six months ended May 31, 2026 and 2025, respectively. Share-based compensation expense is included in selling, general and administrative expenses in the consolidated statements of operations. …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS: Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Companys assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three levels: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The foll …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXES: Income taxes consist of current and deferred tax expense resulting from income earned in domestic and international jurisdictions. The effective tax rates for the three and six months ended May 31, 2026 and 2025 were impacted by the geographic mix of worldwide income and certain discrete items. The liability for unrecognized tax benefits was $78,068 and $95,034 at May 31, 2026 and November 30, 2025, respectively, and is included in other long-term liabilities in the consolidated balance sheets. As of May 31, 2026 and November 30, 2025, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the consolidated financial statements was $78,068 and $88,130, respectively. This amount includes net interest and penalties of $11,526 and $12,860 for the respective periods. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits could decrease between approximately $8,283 and $13,149 in the next twelve months; however, actual developments in this area could differ from those currently expected.

IncomeTaxDisclosureTextBlock

LEASES: The Company leases certain of its facilities and equipment under operating lease agreements, which expire in various periods through 2036. The Companys finance leases are not material. The following table presents the various components of operating lease costs: Three Months Ended Six Months Ended May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 Operating lease cost $ 85,131 $ 79,977 $ 171,356 $ 154,259 Short-term lease cost 17,069 17,669 31,977 37,323 Variable lease cost 15,346 13,854 29,776 26,325 Sublease income (466) (287) (921) (2,154) Total operating lease cost $ 117,080 $ 111,213 $ 232,188 $ 215,753 The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five fiscal years and thereafter as of May 31, 2026: Fiscal Years Ending November 30, 2026 (remaining six months) $ 163,169 2027 284,947 2028 231,708 2029 166,274 2030 101,937 Thereafter 129,812 Total payments 1,077,847 Less: imputed interest* 158,460 Total present value of lease payments $ 919,387 *Imputed interest represents the difference between undiscounted cash flows and discounted cash flows. The following amounts were recorded in the consolidated balance sheets related to the Companys operating leases: As of Description Balance Sheet location May 31, 2026 November 30, 2025 Operating lease ROU assets Other assets $ 877,332 $ 857,025 Current operating lease liabilities Other accrued liabilities 252,982 256,739 Non-current …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Accounting pronouncements recently issued In December 2023, the FASB issued ASU 2023-09, which requires enhanced income tax disclosures, including disaggregation of information in the rate reconciliation table and disaggregated information related to income taxes paid. The amendments in ASU 2023-09 are effective for the Company for the fiscal year ending November 30, 2026. The Company is currently evaluating the impact that this update will have on its disclosures in the annual consolidated financial statements; however, the amendments will be applied on a prospective basis. In November 2024, the FASB issued ASU 2024-03, which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. ASU 2024-03 is effective for the Company for annual reporting periods beginning with the fiscal year ending November 30, 2028 and for interim periods beginning in fiscal year 2029. Early adoption is permitted. The amendments in this ASU may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that this update will have on its disclosures in the consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, which amends the guidance in ASC 350-40, Intangibles -Goodwill and Other - Internal-Use Software . The amendments modernize the recognition and disclosure framework for internal-use software co …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

PENSION AND EMPLOYEE BENEFITS PLANS: The Company has a 401(k) plan in the United States under which eligible employees may contribute up to the maximum amount as provided by law. Employees become eligible to participate in the 401(k) plan on the first day of the month after their employment date. The Company may make discretionary contributions under the plan. Employees in most of the Companys non-U.S. legal entities are covered by government mandated defined contribution plans. During the three and six months ended May 31, 2026, the Company contributed $31,918 and $65,986, respectively, to defined contribution plans. During the three and six months ended May 31, 2025, the Company contributed $19,266 and $47,887, respectively, to defined contribution plans. Defined Benefit Plans For eligible employees in the United States, the Company maintains a frozen defined benefit pension plan (the cash balance plan), which includes both a qualified and non-qualified portion. The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund. The Company maintains funded or unfunded defined benefit pension or retirement plans for certain eligible employees in the Philippines, Malaysia, India, and France. Benefits under these plans are primarily based on years of service and compensation durin …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

RESTRUCTURING-RELATED EXPENSES: The Company recorded severance costs of $42,384 and $60,221 for the three and six months ended May 31, 2026, respectively, primarily related to the Companys cost reduction initiatives. These actions affected approximately 20,000 employees. Severance costs were recognized in cost of revenue and selling, general and administrative expenses in the consolidated statement of operations based on the functions of the affected employees. Severance costs included in cost of revenue were $29,272 and $42,671 for the three and six months ended May 31, 2026, respectively, and severance costs included in selling, general and administrative expenses were $13,112 and $17,550 for the same periods. As of May 31, 2026, the remaining liability for these severance-related actions was $16,062 and was included in other accrued liabilities. The remaining cash payments are expected to be substantially completed by November 30, 2026. Severance costs recorded during the three and six months ended May 31, 2025 were not material. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE: Disaggregated revenue The following table presents the Companys revenue disaggregated by primary industry verticals: Three Months Ended Six Months Ended May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 Industry vertical: Technology and consumer electronics $ 624,244 $ 662,719 $ 1,259,333 $ 1,320,411 Retail, travel and e-commerce 640,795 583,782 1,290,158 1,167,680 Communications and media 392,255 392,963 786,271 763,963 Banking, financial services and insurance 432,388 384,015 853,993 749,208 Healthcare 151,869 176,386 330,699 366,191 Other 220,922 217,506 442,410 422,140 Total $ 2,462,473 $ 2,417,371 $ 4,962,864 $ 4,789,593 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT REPORTING: The Company operates as one operating segment. The Company's chief operating decision maker (CODM) is its President and Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net income and operating income to assess financial performance, allocate resources, and make key operating decisions. The following table presents selected financial information, including significant segment expenses, with respect to the Companys single operating segment for the three and six months ended May 31, 2026 and 2025. Three Months Ended Six Months Ended May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 Revenue $ 2,462,473 $ 2,417,371 $ 4,962,864 $ 4,789,593 Cost of revenue (1) 1,602,793 1,564,966 3,235,533 3,078,421 Selling, general and administrative expenses (2) 512,305 495,081 1,031,775 979,641 Acquisition-related, integration and restructuring expenses 65,505 16,808 100,374 34,832 Share-based compensation expense 25,367 26,862 54,822 53,462 Amortization of intangible assets 102,057 109,158 205,513 214,777 Loss on held for sale 963 6,892 Depreciation expense 58,062 56,151 113,975 111,248 Operating income 95,421 148,345 213,980 317,212 Interest expense and finance charges, net 68,074 75,406 143,391 148,400 Other expense (income), net (42,128) 21,218 (27,617) 16,299 Provision for income taxes 14,199 9,628 21,341 40,163 Net income $ 55,276 $ 42,093 $ 76,865 $ 112,350 (1) Exclusive of depreciation expense an …

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: For a discussion of the Companys significant accounting policies, refer to the Companys Annual Report on Form 10-K for the fiscal year ended November 30, 2025. Recently adopted accounting pronouncements are discussed below. Concentration of credit risk For the three and six months ended May 31, 2026 and 2025, no client accounted for more than 10% of the Companys consolidated revenue. As of May 31, 2026 and November 30, 2025, no client comprised more than 10% of the Companys total accounts receivable balance. Accounts receivable factoring The Company has factoring programs with certain clients to sell accounts receivable to financial institutions under non-recourse agreements in exchange for cash proceeds. These accounts receivable financing agreements are accounted for as a true sale of assets under the provisions of Accounting Standards Codification 860, Transfer and Servicing (ASC 860). In accordance with ASC 860, the accounts receivable financing arrangements are deemed a true sale as the Company retains no rights or interest and has no obligations with respect to the accounts receivable. In some instances, the Company may continue to service the transferred receivables after factoring has occurred. However, any servicing of the accounts receivable does not constitute significant continuing involvement. Under the accounts receivable financing arrangements, the financial institutions are responsible for any credit risk associated …

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NOTE 16STOCKHOLDERS EQUITY: Share repurchase program In September 2021, the Companys board of directors authorized the repurchase of up to $500,000 of the outstanding shares of Concentrix common stock from time to time as market and business conditions warrant, including through open market purchases or Rule 10b5-1 trading plans. In January 2025, the Companys board of directors extended the share repurchase program by authorizing an increase of the amount remaining for share repurchases under the existing share repurchase authorization to $600,000. The repurchase program has no termination date and may be suspended or discontinued at any time. During the three months ended May 31, 2026, there were no repurchases of the Companys common stock under the share repurchase program. During the six months ended May 31, 2026, under the share repurchase program, the Company repurchased 1,081 shares of its common stock for an aggregate purchase price of $43,194. During the three and six months ended May 31, 2025, under the share repurchase program, the Company repurchased 924 and 1,464 shares, respectively, of its common stock for an aggregate purchase price of $45,328 and $71,174, respectively. The share repurchases were made on the open market and the shares repurchased by the Company are held in treasury for general corporate purposes. At May 31, 2026, approximately $396,602 remained available for share repurchases under the existing authorization from the Companys board of directors …

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