Concentrix Corp (NASDAQ:CNXC) stock fell 1.92% (As on January 16, 11:21:43 AM UTC-4, Source: Google Finance) after the company has acquired a Philippine-based tech-driven customer experience-consulting firm to expand both its operating team as well as its clients. Concentrix said that it completed the acquisition of BlinkCX, a move that is part of the company’s commitment to bold investments in transforming the technology and services industry in the Philippines. The integration of BlinkCX’s team of data analysts, strategy consultants and project managers is expected to expand the company’s capability to deliver transformative outcomes and explore new opportunities for growth in the Philippines.

Meanwhile, the company surpasses market’s expectations for the fourth quarter of FY 24. Non-GAAP operating income of $346.7 million, or 14.2% of revenue, compared with $340.8 million, or 15.3% of revenue, in the prior year fourth quarter. The change in non-GAAP operating margin was primarily due to spending related to the productization and commercialization of the Company’s new GenAI iX product suite. Adjusted EBITDA of $402.9 million, or 16.5% of revenue, compared with $397.9 million, or 17.8% of revenue, in the prior year fourth quarter. Cash flow from operations was $284.4 million in the quarter. Adjusted free cash flow for the quarter was $218.7 million. In fiscal 2024, the company returned approximately $220 million to shareholders through dividends and share repurchases while reducing debt by approximately $209 million.

CNXC in the fourth quarter of FY 24 has reported the adjusted earnings per share of 15 cents, beating the analysts’ estimates for the adjusted earnings per share of 13 cents. The company had reported the adjusted revenue growth of 9.7 percent to $2.448 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $2.44 billion.

For the first quarter of 2025, reported revenue is expected to be in the range of $2.355 billion to $2.370 billion, non-GAAP operating income is expected to be in the range of $305 million to $315 million and Non-GAAP EPS to be in the range of $2.49 to $2.64.

For the fiscal 2025, reported revenue is expected to be in the range of $9.470 billion to $9.610 billion, non-GAAP operating income is expected to be in the range of $1,300 million to $1,340 million and Non-GAAP EPS to be in the range of $11.18 to $11.77. In addition, the Company expects to generate approximately $625 million to $650 million of adjusted free cash flow in fiscal year 2025.