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Concentrix Goes All-In On AI — Can iX Suite Lift A Sluggish Revenue Base?

Concentrix reported first quarter 2026 revenue of approximately $2.5 billion, representing a 1.9% increase on a constant currency basis and over 5% reported growth year-over-year. Revenue growth was driven primarily by the banking and financial services sector, which grew 13%, and by retail, travel, and e-commerce clients, which increased by 6%, with notable strength in travel and e-commerce segments. However, revenues declined about 6% in both the technology/consumer electronics and healthcare verticals due to lighter-than-expected client volumes, shore mix, and ongoing market volatility. The company’s AI-driven iX Suite of proprietary products contributed to growth in transformational deals, with nearly 60 enterprise contracts secured during the quarter, including two large contracts with Fortune 50 clients. AI-related revenue and bookings saw strong momentum, with annual contract value for AI-inclusive solutions more than doubling quarter-over-quarter and AI license usage expanding within the client base.