KYNDRYL REPORTS FOURTH QUARTER AND FULL-YEAR 2025 RESULTS
- Record signings of $18.2 billion in FY2025, up 46% YoY
- Return to constant-currency revenue growth in Q4 2025 (1.3%)
- Strong Q4 net income of $68M vs loss of $45M in prior year
- Hyperscaler alliance revenue doubled to $1.2B in FY2025
- Kyndryl Consult revenue grew 26% in FY2025
- Generated $775M in annualized savings through AI-enabled Bridge platform
- Healthy balance sheet with $1.8B cash and $3.2B debt
- Overall FY2025 revenue declined 6% YoY (4% in constant currency)
- Continued impact from contractually required increase in IBM software costs
- Net debt position of $1.4 billion
Insights
Kyndryl achieves profitability inflection point with record signings, margin expansion, and positive fiscal 2026 outlook despite modest revenue growth.
Kyndryl's Q4 and full-year FY25 results demonstrate successful execution of its strategic transformation. The company has reached an important inflection point, returning to constant-currency revenue growth of 1.3% in Q4 after strategic pruning of unprofitable contracts throughout the year. The full-year revenue of
The standout metric is record signings of
Profitability has improved dramatically across all metrics, with Q4 pretax income of
The company's three strategic pillars all exceeded targets:
- Alliances:
$1.2 billion in hyperscaler-related revenue (more than double prior year) - Advanced Delivery:
$775 million in annualized savings through AI-enabled Kyndryl Bridge platform - Accounts:
$900 million in annualized benefits from margin improvements
Particularly promising is the
The FY26 guidance projects continued improvement with adjusted pretax income of at least
- Revenues for the quarter ended March 31, 2025 total
$3.8 billion $118 million $68 million $698 million $185 million - Fiscal year 2025 revenues total
$15.1 billion $435 million $252 million $2.5 billion $482 million - Signings for fiscal year 2025 were a record
$18.2 billion 46% - Company provides fiscal year 2026 outlook for positive constant-currency revenue growth, at least
$725 million $550 million
"Fiscal 2025 was another year of strong execution on our strategy. In addition to returning to constant-currency revenue growth in the fourth quarter, we strengthened our leadership in innovative mission-critical technology services. We expanded our capabilities in cloud, modernization, applications, AI and security, and we further differentiated our services with Kyndryl Bridge," said Kyndryl Chairman and Chief Executive Officer Martin Schroeter.
"Our fiscal year 2026 outlook for free cash flow growth, earnings growth and constant-currency revenue growth reinforces our confidence to deliver our fiscal year 2028 objectives. Additionally, our ongoing share repurchase program reflects our commitment to returning capital to shareholders, and underscores our strong performance and confidence in the future," Mr. Schroeter said.
Results for the Fiscal Fourth Quarter Ended March 31, 2025
For the fourth quarter, Kyndryl reported revenues of
Adjusted pretax income was
Results for the Fiscal Year Ended March 31, 2025
For the fiscal year ended March 31, 2025, Kyndryl reported revenues of
Adjusted pretax income was
Signings for fiscal year 2025 were a record
"We delivered strong signings growth in fiscal year 2025, with attractive margins built into these signings. This demonstrates the potential our business has to continue to grow our revenue, increase our earnings and generate cash flow. Our Kyndryl Consult and managed services capabilities align with enterprise customers' technology needs and are driving incremental, profitable growth opportunities," said David Wyshner, Kyndryl's Chief Financial Officer.
Recent Developments
- Alliances initiative – In the fourth quarter and the full year, Kyndryl recognized
$375 million $1.2 billion $1 billion - Advanced Delivery initiative – The AI-enabled Kyndryl Bridge operating platform is further enhancing the world-class technology services the Company provides and creating additional revenue opportunities. It has also helped Kyndryl free up more than 13,000 delivery professionals. This has generated annualized savings of approximately
$775 million $750 million - Accounts initiative – Kyndryl continued to address elements of contracts with substandard margins, bringing the total impact from this initiative to
$900 million $850 million - Strong projected margin on recent signings – In the quarter, projected pretax income margins associated with total signings were in the high-single-digit range, in line with recent quarters, reflecting the Company's focus on margin expansion.
- Double-digit growth in Kyndryl Consult – Kyndryl Consult revenues grew
45% year-over-year in the fourth quarter and grew26% in fiscal 2025. Kyndryl Consult signings grew37% year-over-year in the fourth quarter and grew47% in fiscal 2025. - Higher cash balance – The Company ended fiscal year 2025 with cash of
$1.8 billion $3.2 billion $1.4 billion - Share repurchases – The Company repurchased 1.8 million shares of its common stock at a cost of
$64 million $300 million
Fiscal Year 2026 Outlook
Kyndryl is providing the following outlook for its fiscal year 2026, which runs from April 2025 to March 2026:
- Adjusted pretax income of at least
$725 million $243 million - Adjusted EBITDA margin of approximately
18% , representing a year-over-year increase of approximately 130 basis points. - Adjusted free cash flow of approximately
$550 million
The Company's earnings and cash flow outlook only assumes constant-currency revenue growth of
Earnings Webcast
Kyndryl's earnings call for the fourth fiscal quarter is scheduled to begin at 8:30 a.m. ET on May 8, 2025. The live webcast can be accessed by visiting investors.kyndryl.com on Kyndryl's investor relations website. A slide presentation will be made available on Kyndryl's investor relations website before the call on May 8, 2025. Following the event, a replay will be available via webcast for twelve months at investors.kyndryl.com.
About Kyndryl
Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements concerning the Company's plans, objectives, goals, beliefs, business strategies, future events, business condition, results of operations, financial position, business outlook and business trends and other non-historical statements, including without limitation the outlook and financial objectives in this press release (which does not assume any future acquisitions or divestitures), are forward-looking statements. Such forward-looking statements often contain words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "intend," "may," "objectives," "opportunity," "plan," "position," "predict," "project," "should," "seek," "target," "will," "would" and other similar words or expressions or the negative thereof or other variations thereon. Forward-looking statements are based on the Company's current assumptions and beliefs regarding future business and financial performance.
The Company's actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others: failure to attract new customers, retain existing customers or sell additional services to customers; failure to meet growth and productivity objectives; competition; impacts of relationships with critical suppliers and partners; failure to address and adapt to technological developments and trends; inability to attract and retain key personnel and other skilled employees; impact of economic, political, public health and other conditions; damage to the Company's reputation; inability to accurately estimate the cost of services and the timeline for completion of contracts; service delivery issues; the Company's ability to successfully manage acquisitions and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities and higher debt levels; failure of the Company's intellectual property rights to prevent competitive offerings and the failure of the Company to obtain, retain and extend necessary licenses; the impairment of our goodwill or long-lived assets; risks relating to cybersecurity, data governance and privacy; risks relating to non-compliance with legal and regulatory requirements; adverse effects from tax matters; legal proceedings and investigatory risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; the Company's pension plans; the impact of currency fluctuations; and risks related to the Company's common stock and the securities market.
Additional risks and uncertainties include, among others, those risks and uncertainties described in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and may be further updated from time to time in the Company's subsequent filings with the Securities and Exchange Commission. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In this release, certain amounts may not add due to the use of rounded numbers; percentages presented are calculated based on the underlying amounts. Forecasted amounts are based on currency exchange rates as of April 2025.
Non-GAAP Financial Measures
In an effort to provide investors with additional information regarding its results, the Company has provided certain metrics that are not calculated based on generally accepted accounting principles (GAAP), such as constant-currency results, adjusted EBITDA, adjusted pretax income, adjusted net income, adjusted EPS, adjusted EBITDA margin, adjusted pretax margin, adjusted net margin, net debt, adjusted operating cash flow and adjusted free cash flow. Such non-GAAP metrics are intended to supplement GAAP metrics, but not to replace them. The Company's non-GAAP metrics may not be comparable to similarly titled metrics used by other companies. Definitions of non-GAAP metrics and reconciliations of non-GAAP metrics for historical periods to GAAP metrics are included in the tables in this release.
A reconciliation of forward-looking non-GAAP financial information is not included in this release because the Company is unable to predict with reasonable certainty some individual components of such reconciliation without unreasonable effort. These items are uncertain, depend on various factors and could have a material impact on future results computed in accordance with GAAP.
Investor Contact:
investors@kyndryl.com
Media Contact:
press@kyndryl.com
Table 1 CONSOLIDATED INCOME STATEMENT (in millions, except per share amounts) | ||||||||||||
Three Months Ended | Year Ended | |||||||||||
March 31, | March 31, | |||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||
Revenues | $ | 3,800 | $ | 3,850 | $ | 15,057 | $ | 16,052 | ||||
Cost of services | $ | 2,975 | $ | 3,134 | $ | 11,914 | $ | 13,189 | ||||
Selling, general and administrative expenses | 640 | 714 | 2,591 | 2,773 | ||||||||
Workforce rebalancing charges | 23 | 23 | 114 | 138 | ||||||||
Transaction-related costs (benefits) | 2 | (58) | (125) | (46) | ||||||||
Interest expense | 23 | 29 | 100 | 122 | ||||||||
Other expense | 18 | 11 | 27 | 45 | ||||||||
Total costs and expenses | $ | 3,682 | $ | 3,854 | $ | 14,622 | $ | 16,221 | ||||
Income (loss) before income taxes | $ | 118 | $ | (4) | $ | 435 | $ | (168) | ||||
Provision for income taxes | 50 | 41 | 184 | 172 | ||||||||
Net income (loss) | $ | 68 | $ | (45) | $ | 252 | $ | (340) | ||||
Earnings per share data | ||||||||||||
Basic earnings (loss) per share | $ | 0.30 | $ | (0.20) | $ | 1.09 | $ | (1.48) | ||||
Diluted earnings (loss) per share | 0.28 | (0.20) | 1.05 | (1.48) | ||||||||
Weighted-average basic shares outstanding | 231.4 | 230.2 | 231.5 | 229.2 | ||||||||
Weighted-average diluted shares outstanding | 241.7 | 230.2 | 239.1 | 229.2 | ||||||||
Table 2 SEGMENT RESULTS AND SELECTED BALANCE SHEET INFORMATION (dollars in millions) | ||||||||||
Three Months Ended March 31, | Year-over-Year Growth | |||||||||
As | Constant | |||||||||
Segment Results | 2025 | 2024 | Reported | Currency | ||||||
Revenue | ||||||||||
$ | 969 | $ | 990 | (2 %) | (2 %) | |||||
605 | 584 | 4 % | 6 % | |||||||
Principal Markets1 | 1,273 | 1,350 | (6 %) | (3 %) | ||||||
Strategic Markets1 | 953 | 926 | 3 % | 8 % | ||||||
Total revenue | $ | 3,800 | $ | 3,850 | (1 %) | 1 % | ||||
Adjusted EBITDA2 | ||||||||||
$ | 228 | $ | 174 | |||||||
102 | 83 | |||||||||
Principal Markets | 231 | 166 | ||||||||
Strategic Markets | 161 | 166 | ||||||||
Corporate and other3 | (24) | (24) | ||||||||
Total adjusted EBITDA | $ | 698 | $ | 566 | ||||||
Year Ended March 31, | Year-over-Year Growth | |||||||||
As | Constant | |||||||||
Segment Results | 2025 | 2024 | Reported | Currency | ||||||
Revenue | ||||||||||
$ | 3,876 | $ | 4,295 | (10 %) | (10 %) | |||||
2,358 | 2,344 | 1 % | 6 % | |||||||
Principal Markets1 | 5,206 | 5,479 | (5 %) | (4 %) | ||||||
Strategic Markets1 | 3,617 | 3,934 | (8 %) | (5 %) | ||||||
Total revenue | $ | 15,057 | $ | 16,052 | (6 %) | (4 %) | ||||
Adjusted EBITDA2 | ||||||||||
$ | 725 | $ | 781 | |||||||
390 | 361 | |||||||||
Principal Markets | 886 | 677 | ||||||||
Strategic Markets | 606 | 642 | ||||||||
Corporate and other3 | (90) | (95) | ||||||||
Total adjusted EBITDA | $ | 2,516 | $ | 2,367 | ||||||
March 31, | March 31, | |||||||||
Balance Sheet Data | 2025 | 2024 | ||||||||
Cash and equivalents | $ | 1,786 | $ | 1,553 | ||||||
Debt (short-term and long-term) | 3,172 | 3,238 | ||||||||
1 | Principal Markets is comprised of Kyndryl's operations in | |||||||||||
2 | In the three months ended March 31, 2025, amounts include workforce rebalancing charges of | |||||||||||
3 | Represents net amounts not allocated to segments. | |||||||||||
Table 3 CONSOLIDATED STATEMENT OF CASH FLOWS (dollars in millions) | ||||||
Year Ended March 31, | ||||||
2025 | 2024 | |||||
Cash flows from operating activities: | ||||||
Net income (loss) | $ | 252 | $ | (340) | ||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
Depreciation of property, equipment and capitalized software | 660 | 834 | ||||
Depreciation of right-of-use assets | 327 | 319 | ||||
Amortization of transition costs and prepaid software | 1,278 | 1,256 | ||||
Amortization of capitalized contract costs | 420 | 531 | ||||
Amortization of acquisition-related intangible assets | 30 | 30 | ||||
Stock-based compensation | 100 | 95 | ||||
Deferred taxes | (1) | (13) | ||||
Net (gain) loss on asset sales and other | (152) | 43 | ||||
Change in operating assets and liabilities: | ||||||
Deferred costs (excluding amortization) | (1,762) | (1,569) | ||||
Right-of-use assets and liabilities (excluding depreciation) | (314) | (335) | ||||
Workforce rebalancing liabilities | (25) | (38) | ||||
Receivables | 289 | 11 | ||||
Accounts payable | (89) | (305) | ||||
Taxes | (1) | (2) | ||||
Other assets and other liabilities | (71) | (63) | ||||
Net cash provided by operating activities | $ | 942 | $ | 454 | ||
Cash flows from investing activities: | ||||||
Capital expenditures | $ | (605) | $ | (651) | ||
Proceeds from disposition of property and equipment | 83 | 138 | ||||
Acquisitions and divestitures, net of cash acquired | 139 | — | ||||
Other investing activities, net | (20) | (40) | ||||
Net cash used in investing activities | $ | (404) | $ | (553) | ||
Cash flows from financing activities: | ||||||
Debt repayments | $ | (148) | $ | (644) | ||
Proceeds from issuance of debt, net of debt issuance costs | — | 494 | ||||
Common stock repurchases | (93) | — | ||||
Common stock repurchases for tax withholdings | (45) | (22) | ||||
Other financing activities, net | — | 2 | ||||
Net cash used in financing activities | $ | (286) | $ | (170) | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | $ | (16) | $ | (37) | ||
Net change in cash, cash equivalents and restricted cash | $ | 235 | $ | (306) | ||
Cash, cash equivalents and restricted cash at beginning of period | $ | 1,554 | $ | 1,860 | ||
Cash, cash equivalents and restricted cash at end of period | $ | 1,789 | $ | 1,554 | ||
Supplemental data | ||||||
Income taxes paid, net of refunds received | $ | 149 | $ | 191 | ||
Interest paid on debt | $ | 119 | $ | 118 | ||
Net cash provided by operating activities was | |||||||||||
Table 4
NON-GAAP METRIC DEFINITIONS AND RECONCILIATIONS
(dollars in millions, except signings)
We report our financial results in accordance with GAAP. We also present certain non-GAAP financial measures to provide useful supplemental information to investors. We provide these non-GAAP financial measures as we believe it enhances investors' visibility to management decisions and their impacts on operational performance; enables better comparison to peer companies; and allows us to provide a long-term strategic view of the business going forward. Moreover, we use certain of these non-GAAP financial metrics in measuring performance under our executive compensation plans.
Constant-currency information compares results between periods as if exchange rates had remained constant period over period. We define constant-currency revenues as total revenues excluding the impact of foreign exchange rate movements and use it to determine the constant-currency revenue growth on a year-over-year basis. Constant-currency revenues are calculated by translating current period revenues using corresponding prior-period exchange rates.
Adjusted pretax income is defined as pretax income excluding transaction-related costs and benefits, charges related to ceasing to use leased / fixed assets, charges related to lease terminations, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, amortization of acquisition-related intangible assets, workforce rebalancing charges incurred prior to March 31, 2024, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. Adjusted pretax margin is calculated by dividing adjusted pretax income by revenue.
Adjusted EBITDA is defined as net income (loss) excluding net interest expense, income taxes, depreciation and amortization (excluding depreciation of right-of-use assets and amortization of capitalized contract costs), charges related to ceasing to use leased / fixed assets, charges related to lease terminations, transaction-related costs and benefits, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, workforce rebalancing charges incurred prior to March 31, 2024, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
Adjusted net income is defined as adjusted pretax income less the reported provision for income taxes, minus or plus the tax effect of the non-GAAP adjustments made to calculate adjusted pretax income, and excluding exceptional items impacting the reported provision for income taxes. Adjusted net margin is calculated by dividing adjusted net income by revenue.
Adjusted earnings per share (EPS) is defined as adjusted net income divided by diluted weighted average shares outstanding to reflect shares that are dilutive or anti-dilutive based on the amount of adjusted net income. The weighted average common shares outstanding used to calculate adjusted earnings (loss) per share will differ from such shares used to calculate diluted earnings (loss) per share (GAAP) when the inclusion of dilutive shares has an anti-dilutive effect for one calculation but not for the other.
Adjusted free cash flow is defined as cash flows from operating activities (GAAP) after adding back transaction-related payments, charges related to lease terminations, payments related to workforce rebalancing charges incurred prior to March 31, 2024, and significant litigation payments (collectively referred to as adjusted operating cash flow), less net capital expenditures. Management uses adjusted operating cash flow and adjusted free cash flow as measures to evaluate our operating results, plan strategic investments and assess our ability and need to incur and service debt. We believe adjusted operating cash flow and adjusted free cash flow are useful supplemental financial measures to aid investors in assessing our ability to pursue business opportunities and investments and to service our debt. Adjusted operating cash flow and adjusted free cash flow are financial measures that are not recognized under
Signings are defined by Kyndryl as an initial estimate of the value of a customer's commitment under a contract. The calculation involves estimates and judgments to gauge the extent of a customer's commitment. We calculate this based on various considerations including the type and duration of the agreement as well as the presence of termination charges or wind-down costs. Contract extensions and increases in scope are treated as signings only to the extent of the incremental new value. Signings can vary over time due to a variety of factors including, but not limited to, the timing of signing a small number of larger outsourcing contracts, as well as the length of those contracts. The conversion of signings into revenue may vary based on the types of services and solutions, customer decisions and other factors, which may include, but are not limited to, macroeconomic environment or external events. Management uses signings as a tool to monitor the performance of the business including the business' ability to attract new customers and sell additional scope into our existing customer base.
Reconciliation of net income (loss) | ||||||||||||
to adjusted pretax income, | ||||||||||||
adjusted EBITDA, adjusted net | Three Months Ended | Year Ended | ||||||||||
income (loss) and adjusted EPS | March 31, | March 31, | ||||||||||
(in millions, except per share amounts) | 2025 | 2024 | 2025 | 2024 | ||||||||
Net income (loss) (GAAP) | $ | 68 | $ | (45) | $ | 252 | $ | (340) | ||||
Provision for income taxes | 50 | 41 | 184 | 172 | ||||||||
Pretax income (loss) (GAAP) | $ | 118 | $ | (4) | $ | 435 | $ | (168) | ||||
Workforce rebalancing charges incurred prior to March 31, 2024 | — | 23 | — | 138 | ||||||||
Charges related to ceasing to use leased/fixed assets and lease terminations | 19 | 14 | 48 | 39 | ||||||||
Transaction-related costs (benefits)1 | 2 | (58) | (125) | (46) | ||||||||
Stock-based compensation expense | 22 | 22 | 100 | 95 | ||||||||
Amortization of acquisition-related intangible assets | 7 | 7 | 30 | 30 | ||||||||
Other adjustments2 | 17 | 25 | (6) | 78 | ||||||||
Adjusted pretax income (non-GAAP) | $ | 185 | $ | 30 | $ | 482 | $ | 165 | ||||
Interest expense | 23 | 29 | 100 | 122 | ||||||||
Depreciation of property, equipment and capitalized software3 | 186 | 195 | 656 | 824 | ||||||||
Amortization of transition costs and prepaid software | 304 | 311 | 1,278 | 1,256 | ||||||||
Adjusted EBITDA (non-GAAP) | $ | 698 | $ | 566 | $ | 2,516 | $ | 2,367 | ||||
Net income margin | 1.8 % | (1.2) % | 1.7 % | (2.1) % | ||||||||
Adjusted EBITDA margin | 18.4 % | 14.7 % | 16.7 % | 14.7 % | ||||||||
Adjusted pretax income (non-GAAP) | $ | 185 | $ | 30 | $ | 482 | $ | 165 | ||||
Provision for income taxes (GAAP) | (50) | (41) | (184) | (172) | ||||||||
Tax effect of non-GAAP adjustments | (9) | 9 | (14) | (18) | ||||||||
Adjusted net income (loss) (non-GAAP) | $ | 126 | $ | (2) | $ | 285 | $ | (25) | ||||
Diluted weighted average shares outstanding for calculating adjusted EPS | 241.7 | 230.2 | 239.1 | 229.2 | ||||||||
Diluted earnings (loss) per share (GAAP) | $ | 0.28 | $ | (0.20) | $ | 1.05 | $ | (1.48) | ||||
Adjusted earnings (loss) per share (non-GAAP) | $ | 0.52 | $ | (0.01) | $ | 1.19 | $ | (0.11) | ||||
1 | Kyndryl's reported results for the year ended March 31, 2025 include a transaction-related gain of | |||||||||||
2 | Other adjustments represent pension costs other than pension servicing costs and multi-employer plan costs, significant litigation costs and benefits, and currency impacts of highly inflationary countries. | |||||||||||
3 | Amount for the year ended March 31, 2024 excludes | |||||||||||
Reconciliation of cash flow from operations | Three Months Ended | Year Ended | ||||||||||
to adjusted operating cash flow and | March 31, | March 31, | ||||||||||
adjusted free cash flow (in millions) | 2025 | 2024 | 2025 | 2024 | ||||||||
Cash flows from operating activities (GAAP) | $ | 581 | $ | 145 | $ | 942 | $ | 454 | ||||
Plus: Transaction-related payments (benefits) | (19) | (6) | (14) | 106 | ||||||||
Plus: Workforce rebalancing payments related to | — | 34 | 25 | 176 | ||||||||
Plus: Significant litigation payments | 1 | 6 | 15 | 61 | ||||||||
Plus: Payments related to lease terminations | — | — | — | 7 | ||||||||
Adjusted operating cash flow (non-GAAP) | $ | 563 | $ | 179 | $ | 968 | $ | 804 | ||||
Less: Net capital expenditures | (228) | (199) | (522) | (513) | ||||||||
Adjusted free cash flow (non-GAAP) | $ | 335 | $ | (20) | $ | 446 | $ | 291 | ||||
Three Months Ended | Year Ended | |||||||||||
March 31, | March 31, | |||||||||||
Signings (in billions) | 2025 | 2024 | 2025 | 2024 | ||||||||
Signings1 | $ | 5.5 | $ | 3.6 | $ | 18.2 | $ | 12.5 | ||||
1 | Signings for the three months ended March 31, 2025 increased by | |||||||||||
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SOURCE Kyndryl
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