Recently completed acquisitions contributed approximately 400 basis points to revenue growth. Specifically, the Products and Resources segment saw a 1,500 basis point boost primarily in North America.

The company is increasingly using AI-based technologies, including GenAI, in client offerings and internal operations. They plan to continue making significant investments in AI capabilities.

North America revenues, particularly in the Health Sciences and Financial Services segment, were positively impacted by the ramp-up of several recently won large deals.

Net savings generated from the NextGen program positively impacted both GAAP and Adjusted Operating Margins. This program focuses on simplifying the operating model and optimizing corporate functions.

Voluntary Attrition - Tech Services was 15.8% for the trailing twelve months ended March 31, 2025, compared to 13.1% for the trailing twelve months ended March 31, 2024.

The company finished the first quarter of 2025 with approximately 336,300 employees, compared to 344,400 employees at the end of the first quarter of 2024. This reduction aligns with the NextGen program.

Clients continue to contend with industry-specific changes driven by evolving digital technologies, uncertainty in the regulatory environment, industry consolidation and convergence, and international trade policies.

The Syntel litigation continues, with a new trial on compensatory damages scheduled for June 24, 2025. The outcome of this trial could have a material impact.

Cognizant is involved in two ongoing disputes with the ITD in connection with previously disclosed share repurchase transactions. The case is pending before the High Court.

As a global professional services company, Cognizant competes on the basis of the knowledge, experience, insights, skills, and talent of its employees and the value they can provide to their clients.

As AI-based technologies or other forms of automation evolve, demand for some services that Cognizant currently performs for its clients may be reduced.

Cost of revenues increased to 66.4% of revenues from 66.1% YoY. This was driven by the negative impact of the 2024 merit cycle on compensation costs, partially offset by operational efficiencies.

SG&A expenses decreased to 15.5% of revenues from 16.1% YoY. This was primarily driven by net savings generated from the NextGen program.

DSO was 81 days as of March 31, 2025, an increase of 3 days from 78 days as of December 31, 2024.

Cognizant is increasingly using AI-based technologies, including GenAI, in client offerings and internal operations. They plan to continue making significant investments in AI capabilities.

The company plans to continue to make significant investments in its AI capabilities to meet the needs of its clients and harness AI's value in a flexible, secure, scalable, and responsible way.

During the three months ended March 31, 2025, Cognizant repaid the $300 million balance that was outstanding under the revolving credit facility, and had no outstanding balance as of March 31, 2025.

The increase in cash used in financing activities for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024, was primarily driven by increased repurchases of common stock during the first quarter of 2025.

On April 29, 2025, the Board of Directors approved the Company's declaration of a $0.31 per share dividend with a record date of May 19, 2025 and a payment date of May 28, 2025.

Reduced demand for discretionary work negatively impacted revenues, in particular for clients in the Products and Resources segment and the Communications, Media and Technology segments.

Net of the impact of the hedges, the depreciation of the Indian rupee positively impacted our operating margin for the three months ended March 31, 2025 by 58 basis points as compared to the three months ended March 31, 2024.