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[6-K] CI&T Inc Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K
Rhea-AI Filing Summary

CI&T Inc. (NYSE: CINT) reported 3Q25 results with organic growth and improved earnings. Revenue was US$127.3 million, up 13.4% year over year (12.1% at constant currency). Top 10 clients grew 19.5% versus 3Q24. Cost of services rose to US$86.2 million, lifting gross profit to US$41.1 million, up 5.6%.

Profitability improved on lower operating costs. SG&A and other operating expenses were US$23.5 million, down 5.0% from 3Q24. Adjusted EBITDA reached US$23.5 million with an 18.5% margin. Net finance costs were US$4.1 million and income tax expense was US$4.6 million, a 34% effective rate. Profit was US$8.9 million, up 72% year over year. Diluted EPS was US$0.07, up 81.1%; adjusted diluted EPS was US$0.09, up 16.4%. Cash generated from operating activities was US$46.4 million in 9M25.

Outlook: 4Q25 revenue is expected at US$130.4–US$132.6 million, implying 12.5% year-over-year constant-currency growth at the midpoint and 16.8% reported growth versus US$112.5 million in 4Q24. For 2025, the Company guides to 12.5%–13.0% organic revenue growth at constant currency and an adjusted EBITDA margin of 18%–20%.

Positive
  • None.
Negative
  • None.

Insights

Solid revenue growth with higher EPS; margins stable to slightly lower.

CI&T delivered 3Q25 revenue of US$127.3M (up 13.4%; 12.1% constant currency) with notable strength among the top 10 clients (up 19.5%). Operating discipline showed up in SG&A and other operating expenses at US$23.5M (down 5.0%), supporting earnings.

Adjusted EBITDA was US$23.5M with an 18.5% margin, modestly below last year’s 19.5%. Profit rose to US$8.9M and diluted EPS to US$0.07, aided by lower operating expenses despite higher service costs and net finance costs of US$4.1M.

Guidance points to 4Q25 revenue of US$130.4–US$132.6M and full‑year organic growth of 12.5–13.0% at constant currency, with adjusted EBITDA margin of 18–20%. Actual impact will hinge on execution with larger clients and cost control into 4Q25.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDERTHE SECURITIES EXCHANGE ACT OF 1934

 

For the month of November 2025

 

Commission File Number: 001-41035

 

CI&T INC

(Translation of registrant’s name into English)

 

Estrada Guiseppina Vianelli De Napoli, 1455 –  C,

Globaltech 13.100-000 - Brazil

Campinas-State of São Paulo

+55 19 21024500

(Address of principal executive office)

 



Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒                                                        Form 40-F ☐


 

 
 

CI&T Inc

TABLE OF CONTENTS

 

ITEM

1. 3Q25 Earnings Release
2. Unaudited condensed consolidated interim financial statements September 30, 2025

 

 
 

 

CI&T Reports 13.4% Organic Revenue Growth in 3Q25 Results

New York - November 12, 2025 - CI&T (NYSE: CINT, “Company”), a global technology transformation specialist and fast-growing public company, today announces its results for the third quarter of 2025 (3Q25) in accordance with International Financial Reporting Standards (IFRS® Accounting Standards), as issued by the IASB. For comparison purposes, we refer to the results for the third quarter of 2024 (3Q24). The numbers are presented in U.S. dollars.

Third quarter of 2025 (3Q25) highlights

Revenue of US$127.3 million, a 13.4% increase compared to US$112.2 million in 3Q24.
Revenue growth at constant currency was 12.1% compared to 3Q24.
Profit increased by 72%, reaching US$8.9 million in 3Q25, compared to US$5.2 million in 3Q24.
Adjusted EBITDA increased by 7.5% to US$23.5 million in 3Q25 compared to US$21.9 million in 3Q24. Adjusted EBITDA margin was 18.5% in 3Q25.
Adjusted Profit increased 10.6% to US$11.3 million in 3Q25 compared to US$10.2 million in 3Q24. Adjusted Profit margin was 8.9% in 3Q25.
Diluted earnings per share (EPS) were US$0.07, an 81.1% increase from 3Q24.
Adjusted diluted EPS were US$0.09, up 16.4% compared to the same period last year.
CI&T ended 3Q25 with 7,858 employees, a 16.3% increase compared to 3Q24.
In September 2025, CI&T Board of Directors approved the renewal of its share repurchase program, allowing the company to repurchase up to five million of its outstanding class A common shares.

 

Cesar Gon, founder and CEO of CI&T, commented, “Our 3Q25 results mark the fourth consecutive quarter of double-digit organic revenue growth—an achievement that underscores the enduring strength of our positioning as the end-to-end business solutions partner our clients rely on, seamlessly integrating AI and technology with core business transformation. As we celebrate 30 years of innovation at CI&T, this strong performance reinforces our confidence in our ability to continue generating sustainable, long-term value for our clients, our people, and our shareholders.”

 

Comments on the 3Q25 financial performance

 

Revenue reached US$127.3 million in 3Q25, a 13.4% increase from US$112.2 million in 3Q24, or a 12.1% growth at constant currency. In 3Q25, revenue among our top 10 clients grew 19.5% compared to the same period in 2024.

 

The cost of services provided was US$86.2 million in 3Q25, a 17.6% increase from 3Q24, mainly explained by the additional billable headcount. Gross profit was US$41.1 million, a 5.6% increase compared to 3Q24. Adjusted gross profit reached US$43.1 million, compared to US$41.8 million, and adjusted gross profit margin was 33.9% in 3Q25.

 

Selling, general, and administrative (SG&A) and other operating expenses totaled US$23.5 million in 3Q25, a 5.0% reduction compared to 3Q24, primarily driven by non-recurring restructuring expenses in 2024.

 

  

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Adjusted EBITDA reached US$23.5 million in 3Q25, a 7.5% increase from US$21.9 million in 3Q24. In 3Q25, the adjusted EBITDA margin was 18.5%.

 

Net finance costs totaled US$4.1 million in 3Q25, reflecting a 10.8% increase compared to 3Q24. This increase was primarily driven by negative foreign exchange variation, partially offset by lower interest expenses resulting from a reduced debt position in 3Q25. Income tax expense was US$4.6 million in 3Q25, a 13.0% decrease compared to 3Q24, equivalent to an effective tax rate of 34%. Income taxes paid in the quarter were US$0.8 million, equivalent to a cash tax rate of 6.0%.

 

Profit was US$8.9 million in 3Q25, up 72% from 3Q24. Adjusted profit was US$11.3 million, an increase of 10.6% compared to 3Q24, with an adjusted profit margin of 8.9%. In 3Q25, diluted EPS was US$0.07, an 81.1% increase from 3Q24. Adjusted diluted EPS were US$0.09, up 16.4% compared to the same period last year.

 

Cash generated from operating activities was US$46.4 million in 9M25.

 

Business Outlook

We expect our reported revenue for the fourth quarter of 2025 to be in the range of US$130.4 million to US$132.6 million, representing a 12.5% increase year-over-year on a constant currency basis at the midpoint of the range. This reflects a 16.8% growth in U.S. dollars on a reported basis (midpoint), compared to US$112.5 million in 4Q24. This estimate assumes an average FX rate of 5.46 BRL/USD in 4Q25, compared to 5.84 BRL/USD in 4Q24.

 

For the full year of 2025, we expect our organic revenue growth at constant currency to be in the range of 12.5% to 13.0% year-over-year. In addition, we estimate our Adjusted EBITDA margin to be in the range of 18% to 20%.

 

These expectations are forward-looking statements, and actual results may differ materially. See "Cautionary Statement on Forward-Looking Statements" below.

 

Conference Call Information
Cesar Gon (Founder and CEO), Bruno Guicardi (Founder and President for North America and Europe), Stanley Rodrigues (CFO), and Eduardo Galvão (Director of Investor Relations) will host a video conference call to discuss the 3Q25 financial and operating results on November 12, at 4:30 PM Eastern Time / 6:30 PM BRT. The earnings call can be accessed on the Company’s Investor Relations website at https://investors.ciandt.com or at the following link: https://youtube.com/live/qBpjt8jPfvA.

 

About CI&T

CI&T (NYSE: CINT) is a global technology transformation specialist for 100+ large enterprises and fast growth clients. CI&T brings a 30-year track record of helping clients navigate change to deliver accelerated business impact, with deep expertise across AI, strategy, customer experience, software development, cloud services, data and more. CI&T’s proprietary AI platform, CI&T FLOW boosts team productivity, ensuring fast, efficient, and scalable delivery of world-class solutions. Operating globally with over 7,800 professionals across 10 countries.

 

Non-IFRS Financial Measures

  

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We regularly monitor certain financial and operating metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. These non-IFRS financial measures include Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Profit, Adjusted Profit Margin, Revenue at Constant Currency, and Adjusted Diluted EPS. They should be considered in addition to results prepared in accordance with IFRS, but not as substitutes for IFRS results. In addition, our calculation of these non-IFRS financial measures may differ from those used by other companies, and therefore, comparability may be limited. These non-IFRS financial measures are provided as additional information to enhance investors’ understanding of our operations’ historical and current financial performance.

 

CI&T is not providing a quantitative reconciliation of its forward-looking non-IFRS Revenue at Constant Currency and Adjusted EBITDA Margin to the most directly comparable IFRS measure because it cannot reasonably predict the outcome of certain significant items without unreasonable efforts. These items include, but are not limited to, share-based compensation expenses, the tax effect of non-IFRS measures, foreign currency exchange gains/losses, and other items. These items are uncertain, depend on various factors, and could have a material impact on our IFRS-reported results for the guidance period.

 

We calculate Revenue at Constant Currency by translating Revenue from entities reporting in foreign currencies into U.S. dollars using the comparable foreign currency exchange rates from the prior period to show changes in our revenue without giving effect to period-to-period currency fluctuations.

 

In calculating Adjusted Gross Profit, we exclude cost components unrelated to the direct management of our services. For the periods presented, the adjustments applied were: (i) depreciation and amortization related to the costs of services provided and (ii) share-based compensation expenses.

 

In calculating Adjusted EBITDA, we exclude components unrelated to the direct management of our services. We calculate Adjusted EBITDA for the periods presented as Profit, plus net finance costs, income tax expense, depreciation and amortization, plus: (i) share-based compensation expenses; (ii) government grants related to tax reimbursement in our Chinese subsidiary; (iii) acquisition-related expenses; and (iv) business restructuring expenses related to the optimization of our global delivery model based on our nearshoring strategy.

 

In calculating Adjusted Profit and Adjusted Diluted EPS, we exclude components unrelated to the direct management of our services. For the periods presented, the adjustments have been made for (i) acquisition-related expenses (including amortization of intangible assets from acquired companies, and present value adjustments to accounts payable for business acquired); (ii) business restructuring expenses related to the optimization of our global delivery model based on our nearshoring strategy; (iii) share-based compensation expenses; and (iv) the tax effects of non-IFRS adjustments.

 

Cautionary Statement on Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact that may be deemed forward-looking statements include, but are not limited to: the statements under Business Outlook, including expectations relating to revenues and other financial or business metrics; statements regarding

  

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relationships with clients; and any other statements of expectations or beliefs. The words “believe”, “will”, “may”, “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from our expectations. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such statements in this press release. Such risk factors include, but are not limited to, those relating to: the ongoing trade war and the impact of tariffs imposed on international trade, particularly between Brazil and the United States; the ongoing war in Ukraine and the economic sanctions imposed by Western economies on Russia, as well as the conflict between Israel and Hamas, and their impact on our business and industry; uncertainty regarding the demand for and market utilization of our services; our ability to maintain or acquire new client relationships; general business and economic conditions; the impact of pandemics, epidemics and disease outbreak; and our ability to successfully implement our growth strategy and strategic plans. Additional information about these and other risks and uncertainties is contained in the Risk Factors section of CI&T's annual report on Form 20-F. Additional information will be made available in our Annual Reports on Form 20-F, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we assume no obligation to and do not intend to update these forward-looking statements or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

 

Contacts:

Investor Relations Contact:

Eduardo Galvão

investors@ciandt.com

 

Media Relations Contact:

Zella Panossian

ciandt@illumepr.com

  

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Unaudited condensed consolidated statement of profit or loss

(In thousands of U.S. dollars)

 

 

  Quarter ended September 30,   Nine months ended September 30,
  2025   2024   2025   2024
Revenue 127,312   112,232   355,373   326,428
Costs of services provided (86,223)   (73,327)   (242,131)   (216,097)
Gross profit 41,089   38,905   113,242   110,331
               
Selling expenses (10,075)   (9,775)   (27,923)   (28,591)
General and administrative expenses (14,062)   (14,158)   (39,663)   (41,147)
Impairment gain (loss) on accounts receivable and contract assets (21)   (947)   218   (1,467)
Other income, net 618   95   1,386   218
Operating expenses, net (23,540)   (24,785)   (65,982)   (70,987)
               
Operating profit before net finance costs and income tax expense 17,549   14,120   47,260   39,344
               
Finance income 4,542   3,936   14,084   10,593
Finance costs (8,653)   (7,645)   (20,955)   (19,023)
Net finance costs (4,111)   (3,709)   (6,871)   (8,430)
               
Profit before income tax 13,438   10,411   40,389   30,914
               
Current (3,718)   (3,901)   (6,550)   (8,122)
Deferred (857)   (1,358)   (7,787)   (3,807)
Total income tax expense (4,575)   (5,259)   (14,337)   (11,929)
               
Profit for the period 8,863   5,152   26,052   18,985
               
Earnings per share              
Earnings per share – basic (in US$) 0.07   0.04   0.19   0.14
Earnings per share – diluted (in US$) 0.07   0.04   0.19   0.14
               
Weighted average number of basic shares 130,723   135,978   133,644   136,714
Weighted average number of diluted shares 131,991   138,927   134,912   139,663
  

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Unaudited condensed consolidated statement of financial position

(In thousands of U.S. dollars)

 

Assets September 30, 2025   December 31, 2024   Liabilities and equity September 30, 2025   December 31, 2024
                 
Cash and cash equivalents 43,298   56,621   Suppliers and other payables 3,728   4,803
Account receivables 86,806   93,717   Loans and borrowings 69,326   46,227
Contract Assets 52,049   $22,256   Lease liabilities 3,862   3,867
Recoverable taxes 2,062   861   Salaries and welfare charges 55,799   44,554
Current income tax assets 8,232   6,650   Accounts payable for business acquired 1,297   6,522
Derivatives 3   723   Derivatives 477   2,370
Restricted cash -   4,247   Current income tax liabilities 569   2,823
Other assets 7,314   6,685   Other taxes payable 3,337   3,062
Total current assets 199,764   191,760   Contract liability 953   6,766
          Other liabilities 3,617   3,989
Recoverable taxes 935   669   Total current liabilities 142,965   124,983
Current income tax assets -   5,408          
Deferred tax assets 544   1,427          
Judicial deposits 1,837   1,316   Loans and borrowings 66,572   92,508
Restricted cash 1,164   1,000   Deferred tax liabilities 26,335   16,282
Other assets 1,162   1,601   Lease liabilities 5,043   5,628
Property and equipment 7,490   5,896   Provisions for tax and labor risks 1,276   1,076
Intangible assets and goodwill 333,300   309,284   Accounts payable for business acquired 3,958   3,389
Right-of-use assets 8,117   8,055   Other liabilities 2,777   2,426
Total non-current assets 354,549   334,656   Total non-current liabilities 105,961   121,309
                 
          Equity      
          Share capital 7   7
          Share premium 183,314   186,333
          Treasury share reserve (28,500)   (6,457)
          Capital reserves 28,568   26,659
          Retained reserves 123,960   97,908
          Other comprehensive income (loss) (1,962)   (24,326)
          Total equity 305,387   280,124
                 
Total assets 554,313   526,416   Total equity and liabilities 554,313   526,416

 

 

 

  

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Unaudited condensed consolidated statement of cash flows

(In thousands of U.S. dollars)

 

  September 30, 2025   September 30, 2024
Cash flows from operating activities      
Profit for the period 26,052   18,985
Adjustments for:      
Depreciation and amortization 13,686   13,206
Loss on sale and write-off of fixed assets 84   506
Interest and exchange rate changes 9,136   11,291
Unrealized (gains) losses on derivatives (1,410)   1,022
Income tax expenses 14,337   11,929
Impairment (gain) losses on accounts receivable and contract assets (218)   1,467
Share-based compensation 3,684   3,986
Other 20   (3)
Changes in operating assets and liabilities      
Accounts receivable and contract assets (16,357)   (5,144)
Recoverable taxes (1,266)   (3,813)
Suppliers and other payables (1,896)   (1,395)
Salaries and welfare charges 3,919   9,681
Contract liabilities (6,013)   (4,469)
Other receivables and payables, net 2,668   (1,161)
Cash generated from operating activities 46,426   56,088
Income tax paid (7,508)   (3,068)
Interest paid on loans and borrowings (8,309)   (6,978)
Interest paid on lease (596)   (510)
Income tax refund 469   823
Net cash generated from operating activities 30,482   46,355
Cash flows from investing activities      
Acquisition and investment in property and equipment and intangible assets (10,339)   (7,473)
Redemption of financial investments -   635
Net cash used in investing activities (10,339)   (6,838)
Cash flows from financing activities      
Share-based compensation exercised 1,368   611
Payment of lease liabilities (3,790)   (3,143)
Proceeds from loans and borrowings 24,722   19,818
Proceeds from settlement of derivatives 91   1,370
Payment of loans and borrowings (34,011)   (14,224)
Payment of installment related to accounts payable for business acquired (1,842)   (1,893)
  

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Treasury shares acquired (27,342)   (9,480)
Net cash used in financing activities (40,804)   (6,941)
Net increase (decrease) in cash and cash equivalents (20,661)   32,576
Cash and cash equivalents as of January 1 56,621   43,715
Exchange variation effect on cash and cash equivalents 7,338   (5,916)
Cash and cash equivalents as of September 30 43,298   70,375

 

  

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Revenue Distribution

 

 

Revenue by Industry

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Financial Services 48,072 31,826 51.0% 127,101 91,916 38.3%
Retail and Industrial Goods 26,199 23,511 11.4% 74,589 62,100 20.1%
Consumer Goods 24,668 25,113 -1.8% 72,491 72,577 -0.1%
Technology and Telecommunications 12,140 12,783 -5.0% 33,740 37,324 -9.6%
Life Sciences 9,690 9,264 4.6% 28,208 30,673 -8.0%
Other 6,543 9,735 -32.8% 19,244 31,838 -39.6%
Total 127,312 112,232 13.4% 355,373 326,428 8.9%

 

 

Revenue by Geography

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Latin America 61,342 45,350 35.3% 165,547 133,687 23.8%
North America 54,558 51,396 6.2% 155,392 143,602 8.2%
New Markets 11,412 15,486 -26.3% 34,434 49,139 -29.9%
Total 127,312 112,232 13.4% 355,373 326,428 8.9%

 

 

Top Clients

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Top Client 14,919 8,720 71.1% 39,840 22,415 77.7%
Top 10 Clients 56,240 47,080 19.5% 152,847 134,647 13.5%

 

  

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Reconciliation of various income statement amounts from IFRS to non-IFRS measures

 

 

Revenue Growth at Constant Currency 3Q25
Reported Revenue Growth 13.4%
Foreign Exchange Rates Impact -1.3%
Revenue Growth at Constant Currency 12.1%

 

 

Adjusted Gross Profit

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Revenue 127,312 112,232 13.4% 355,373 326,428 8.9%
Cost of Services Provided (86,223) (73,327) 17.6% (242,131) (216,097) 12.0%
Gross Profit 41,089 38,905 5.6% 113,242 110,331 2.6%
Adjustments            
Depreciation and amortization (cost of services provided) 1,405 1,546 -9.2% 4,418 4,814 -8.2%
Share-based compensation 649 1,370 -52.6% 2,337 2,805 -16.7%
Adjusted Gross Profit 43,143 41,821 3.2% 119,996 117,950 1.7%
Adjusted Gross Profit Margin 33.9% 37.3% -3.4p.p 33.8% 36.1% -2.4p.p

 

 

Adjusted EBITDA

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Profit for the period 8,863 5,152 72.0% 26,052 18,985 37.2%
Adjustments            
Net finance costs 4,111 3,709 10.8% 6,871 8,430 -18.5%
Income tax expense 4,575 5,259 -13.0% 14,337 11,929 20.2%
Depreciation and amortization 4,685 4,304 8.9% 13,686 13,206 3.6%
Share-based compensation 1,300 1,957 -33.6% 3,684 3,986 -7.6%
Government grants 0 (164) - 0 (237) -
Acquisition-related expenses (1) 0 705 - 0 1,259 -
Business restructuring (2) 0 975 - 0 2,210 -
Adjusted EBITDA 23,534 21,896 7.5% 64,630 59,767 8.1%
Adjusted EBITDA Margin 18.5% 19.5% -1p.p 18.2% 18.3% -0.1p.p

 

Items (1) and (2) are detailed below.

 

  

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Adjusted Profit

(in USD thousand)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Profit for the period 8,863 5,152 72.0% 26,052 18,985 37.2%
Adjustments            
Acquisition-related expenses (1) 2,071 2,716 -23.7% 6,115 7,573 -19.3%
Business restructuring (2) - 975 -100.0% - 2,210 -100.0%
Share-based compensation 1,300 1,957 -33.6% 3,684 3,986 -7.6%
Tax effects on non-IFRS adjustments (960) (606) 58.4% (2,732) (1,608) 69.9%
Adjusted Profit 11,274 10,194 10.6% 33,119 31,146 6.3%
Adjusted Profit Margin 8.9% 9.1% -0.2p.p 9.3% 9.5% -0.2p.p

 

 

 

Adjusted Diluted EPS

(in USD)

3Q25 3Q24

Var.

3Q25 x 3Q24

9M25 9M24

Var.

9M25 x 9M24

Diluted EPS 0.07 0.04 81.1% 0.19 0.14 42.1%
Adjustments            
Acquisition-related expenses (1) 0.02 0.02 -19.7% 0.05 0.05 -16.4%
Business restructuring (2) 0.00 0.01 -100.0% 0.00 0.02 -100.0%
Share-based compensation 0.01 0.01 -30.1% 0.03 0.03 -4.3%
Tax effects on non-IFRS adjustments -0.01 0.00 66.7% -0.02 -0.01 75.9%
Adjusted Diluted EPS 0.09 0.07 16.4% 0.25 0.22 10.1%

 

Notes:

(1)Includes fair value adjustment on accounts payable for business combination and amortization of intangible assets from acquired companies, when applicable. Other expenses include, when applicable, consulting expenses and retention packages.
(2)Expenses related to the optimization of our global delivery model based on our nearshoring strategy, including termination charges, severance, and legal services for employee separations from North America, Europe and Asia Pacific regions for 2024.

  

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CI&T

Inc.

Unaudited condensed consolidated interim

financial statements 

September 30, 2025

 

 

 
 

 

Content

 

Unaudited condensed consolidated statement of financial position 3
Unaudited condensed consolidated statement of profit or loss 4
Unaudited condensed consolidated statement of other comprehensive income 5
Unaudited condensed consolidated statement of changes in equity 6
Unaudited condensed consolidated statement of cash flows 7
Notes to the unaudited condensed consolidated interim financial statements 8

 

 

 

  
 2
 

 

 

CI&T Inc.

Unaudited condensed consolidated statement of financial position as of September 30, 2025 and December 31, 2024

(In thousands of United States dollars – US$)

 

Assets Note September 30, 2025 December 31, 2024 Liabilities and equity Note September 30, 2025 December 31, 2024
               
Cash and cash equivalents 6 43,298 56,621 Suppliers and other payables   3,728 4,803
Accounts receivable 7.1 86,806 93,717 Loans and borrowings 10 69,326 46,227
Contract assets 7.2 52,049 22,256 Lease liabilities   3,862 3,867
Recoverable taxes   2,062 861 Salaries and welfare charges 11 55,799 44,554
Current income tax assets   8,232 6,650 Accounts payable for business acquired   1,297 6,522
Derivatives 12 3 723 Derivatives 12 477 2,370
Restricted cash   - 4,247 Current income tax liabilities   569 2,823
Other assets   7,314 6,685 Other taxes payable   3,337 3,062
        Contract liability   953 6,766
        Other liabilities   3,617 3,989
               
               
Total current assets   199,764 191,760 Total current liabilities   142,965 124,983
               
Recoverable taxes   935 669 Loans and borrowings 10 66,572 92,508
Current income tax assets   - 5,408 Deferred tax liabilities 17 26,335 16,282
Deferred tax assets 17 544 1,427 Lease liabilities   5,043 5,628
Judicial deposits   1,837 1,316 Provisions for tax and labor risks   1,276 1,076
Restricted cash   1,164 1,000 Accounts payable for business acquired   3,958 3,389
Other assets   1,162 1,601 Other liabilities   2,777 2,426
Property and equipment 8 7,490 5,896        
Intangible assets and goodwill 9 333,300 309,284        
Right-of-use assets   8,117 8,055 Total non-current liabilities   105,961 121,309
               
Total non-current assets   354,549 334,656        
        Equity 13    
        Share capital   7 7
        Share premium   183,314 186,333
        Treasury share reserve   (28,500) (6,457)
        Capital reserves   28,568 26,659
        Retained earnings   123,960 97,908
        Other comprehensive income (loss)   (1,962) (24,326)
               
        Total equity   305,387 280,124
               
Total assets   554,313 526,416 Total equity and liabilities   554,313 526,416

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

  
 3
 

 

 

CI&T Inc.

Unaudited condensed consolidated statement of profit or loss

For the three months and nine months ended September 30, 2025 and 2024

(In thousands of United States dollars – US$, except basic and diluted earnings per share)

 

  Note Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
           
Revenue 14 127,312 112,232 355,373 326,428
           
Costs of services provided 15 (86,223) (73,327) (242,131) (216,097)
Gross profit   41,089 38,905 113,242 110,331
           
Selling expenses 15 (10,075) (9,775) (27,923) (28,591)
General and administrative expenses 15 (14,062) (14,158) (39,663) (41,147)
Impairment gain (loss) on accounts receivable and contract assets 15 (21) (947) 218 (1,467)
Other income, net 15 618 95 1,386 218
Operating expenses, net   (23,540) (24,785) (65,982) (70,987)
           
Operating profit before net finance costs and income tax expense   17,549 14,120 47,260 39,344
           
Finance income 16 4,542 3,936 14,084 10,593
Finance costs 16 (8,653) (7,645) (20,955) (19,023)
Net finance costs   (4,111) (3,709) (6,871) (8,430)
           
Profit before income tax   13,438 10,411 40,389 30,914
           
Income tax expense          
Current 17 (3,718) (3,901) (6,550) (8,122)
Deferred 17 (857) (1,358) (7,787) (3,807)
Total income tax expense   (4,575) (5,259) (14,337) (11,929)
           
Profit for the period   8,863 5,152 26,052 18,985
           
Profit attributable to:          
Controlling shareholders   8,863 5,152 26,052 18,985
Profit for the period   8,863 5,152 26,052 18,985
           
Earnings per share          
Earnings per share – basic (in US$)   0.07 0.04 0.19 0.14
Earnings per share – diluted (in US$)   0.07 0.04 0.19 0.14

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

 

 

  
 4
 
 

CI&T Inc.

Unaudited condensed consolidated statement of other comprehensive income

For the three months and nine ended September 30, 2025 and 2024

(In thousands of United States dollars – US$)

 

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Profit for the period 8,863 5,152 26,052 18,985
         
Other comprehensive income:        
         
Items that are or may be reclassified subsequently to the statement of profit or loss        
         
Cash flow hedges – effective portion of changes in fair value – net of tax 255 314 2,102 (2,795)
Cash flow hedges – reclassified to profit or loss 976 889 1,415 889
Translation adjustments of foreign operations 1,101 6,496 18,847 (10,577)
Total other comprehensive income (loss) 2,332 7,699 22,364 (12,483)
         
Total comprehensive income for the period 11,195 12,851 48,416 6,502
         
Total comprehensive income attributed to        
Owners of the Company 11,195 12,851 48,416 6,502
Total comprehensive income for the period 11,195 12,851 48,416 6,502

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

  
 5
 
 

CI&T Inc.

Unaudited condensed consolidated statement of changes in equity

For the nine months ended on September 30, 2025 and 2024

(In thousands of United States dollars – US$)

 

  Share capital Share premium Treasury share reserve Capital reserve Retained earnings Other comprehensive income (loss) Total equity
Balances as of December 31, 2024 7 186,333 (6,457) 26,659 97,908 (24,326) 280,124
Comprehensive income for the period              
Profit for the period - - - - 26,052 - 26,052
Translation adjustments of foreign operations - - - - - 18,847 18,847
Cash flow hedges – net of taxes - - - - - 3,517 3,517
Total comprehensive income for the period - - - - 26,052 22,364 48,416
               
Transactions with the owner of the Group              
Contributions, distribution and constitution of reserves              
Treasury shares acquired - - (27,342) - - - (27,342)
Reissue of ordinary shares - (641) 641 - - - -
Equity settled share-based payment - (6) - 3,252 - - 3,246
Restricted stock units exercised - (309) 1,227 (1,343) - - (425)
Share options exercised - (1,964) 3,208 - - - 1,244
Incentive stock options exercised - (99) 223 - - - 124
Total contributions and distribution and constitution of reserves - (3,019) (22,043) 1,909 - - (23,153)
               
Balances as of September 30, 2025 7 183,314 (28,500) 28,568 123,960 (1,962) 305,387
               
Balances as of January 1, 2024 7 181,092 - 33,945 68,414 8,045 291,503
Comprehensive income for the period              
Profit for the period - - - - 18,985 - 18,985
Translation adjustments of foreign operations - - - - - (10,577) (10,577)
Cash flow hedges – net of tax - - - - - (1,906) (1,906)
Total comprehensive income (loss) for the period - - - - 18,985 (12,483) 6,502
               
Transactions with the owner of the Group              
Contributions, distribution and constitution of reserves              
Treasury shares acquired - - (9,480) - - - (9,480)
Equity settled share-based payment - - - 3,626 - - 3,626
Restricted stock units exercised - 425 - (425) - - -
Share options exercised - - - 611 - - 611
Total contributions and distribution and constitution of reserves - 425 (9,480) 3,812 - - (5,243)
               
Balances as of September 30, 2024 7 181,517 (9,480) 37,757 87,399 (4,438) 292,762

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

  
 6
 
 

CI&T Inc.

Unaudited condensed statement of cash flows

For the nine months ended on September 30, 2025 and 2024

(In thousands of United States dollars – US$)

 

  Notes September 30, 2025 September 30, 2024
Cash flows from operating activities      
Profit for the period   26,052 18,985
Adjustments for:      
Depreciation and amortization 15 13,686 13,206
Loss on sale and write-off of fixed assets   84 506
Interest and exchange rate changes   9,136 11,291
Unrealized (gains) losses on derivatives 12 (1,410) 1,022
Income tax expenses 17 14,337 11,929
Impairment (gain) losses on accounts receivable and contract assets 7 (218) 1,467
Share-based compensation 15 3,684 3,986
Other   20 (3)
       
Changes in operating assets and liabilities      
Accounts receivable and contract assets   (16,357) (5,144)
Recoverable taxes   (1,266) (3,813)
Suppliers and other payables   (1,896) (1,395)
Salaries and welfare charges   3,919 9,681
Contract liabilities   (6,013) (4,469)
Other receivables and payables, net   2,668 (1,161)
       
Cash generated from operating activities   46,426 56,088
       
Income tax paid   (7,508) (3,068)
Interest paid on loans and borrowings 10 (8,309) (6,978)
Interest paid on lease   (596) (510)
Income tax refund   469 823
       
Net cash generated from operating activities   30,482 46,355
       
Cash flows from investing activities      
Acquisition and investment in property and equipment and intangible assets   (10,339) (7,473)
Redemption of financial investments   - 635
       
Net cash used in investing activities   (10,339) (6,838)
       
Cash flows from financing activities      
Share-based compensation exercised   1,368 611
Payment of lease liabilities   (3,790) (3,143)
Proceeds from loans and borrowings 10 24,722 19,818
Proceeds from settlement of derivatives 12 91 1,370
Payment of loans and borrowings 10 (34,011) (14,224)
Payment of installment related to accounts payable for business acquired   (1,842) (1,893)
Treasury shares acquired 13 (27,342) (9,480)
       
Net cash used in financing activities   (40,804) (6,941)
       
Net increase (decrease) in cash and cash equivalents   (20,661) 32,576
       
Cash and cash equivalents as of January 1   56,621 43,715
       
Exchange variation effect on cash and cash equivalents   7,338 (5,916)
       
Cash and cash equivalents as of September 30   43,298 70,375

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

  
 7
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

1.Reporting entity

 

CI&T Inc. (“CI&T” or “Parent Company”) is a publicly held company incorporated in the Cayman Islands in June 2021, headquartered at Estrada Giuseppina Vianelli Di Napoli, 1455, Polo II de Alta Tecnologia, in the City of Campinas, State of São Paulo, Brazil. As a holding company, it is mainly engaged in the investment, as a partner or shareholder, in other companies, consortia or joint ventures in Brazil, in the United States of America, and other countries. The Parent Company’s subsidiaries are mainly engaged in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration and mobility technologies.

 

These unaudited interim condensed consolidated financial statements comprise the Parent Company and its subsidiaries (collectively referred to as the “Group”).

 

Since November 10, 2021, CI&T has been a publicly-held company registered with the US Securities and Exchange Commission (“SEC”) and its shares are traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “CINT”.

 

1.1Organizational structure

 

The Parent Company did not have any changes to its direct and indirect subsidiaries compared to those presented in the consolidated financial statements for the year ended December 31, 2024, except for CI&T Philippines and CI&T Singapore, which started operations during the second quarter of 2025.

 

2.Basis of accounting

 

These unaudited condensed consolidated interim financial statements as of September 30, 2025 and for the three and nine months ended September 30, 2025 have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended 31 December 2024 ('last annual financial statements'). They do not include all the information required for a complete set of financial statements prepared in accordance with IFRSâ Accounting Standards. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last annual financial statements.

 

These unaudited condensed consolidated interim financial statements were authorized for issue by the Parent Company's Board of Directors on November 12, 2025.

 

2.1Seasonality of operations

 

The business activities carried on by the Group entities, and their transactions are not highly cyclical or seasonal in nature.

 

2.2Accounting standards issued but not yet effective

 

A number of new accounting standards and amendments to accounting standards are effective for annual reporting periods beginning after January 1, 2025 and earlier application is permitted. However, the Group has not early adopted any of the forthcoming new or amended accounting standards in preparing these unaudited condensed consolidated interim financial statements.

  
 8
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

3.Functional and presentation currency

 

The unaudited condensed consolidated interim financial statements of the Parent Company, along with those of its subsidiaries, are measured using the currency of the primary economic environment in which each entity operates, referred to as the "functional currency." For the Parent Company, this functional currency is the Brazilian Reais (R$). For presentation purposes, these unaudited condensed consolidated interim financial statements are expressed in United States dollars (US$).

 

4.Use of judgments and estimates

 

In preparing these interim financial statements, management has made judgments and estimates about the future that affect the application of the Group's accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

 

The significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

 

4.1 Measurement of fair value

 

There were no changes in the Group’s valuation processes, valuation techniques, and types of inputs used in the fair value measurements during the period. When available, observable market data is used, and third-party valuations are assessed to ensure compliance with accounting standards and appropriate classification within the fair value hierarchy. Fair values are categorized into Level 1 (quoted prices in active markets) and Level 2 (observable inputs other than quoted prices). The Group does not hold assets or liabilities that are categorized within Level 3 of the fair value hierarchy, which involves unobservable inputs. There were no transfers between Level 1 and Level 2 fair value measurements during the period, and no transfers into or out of Level 3 fair value measurements during 2025.

 

5.Changes in accounting policies

 

The Group did not have any changes to its accounting policies from those applied in the consolidated financial statements as at and for the year ended December 31, 2024, since the amendments to IFRS Accounting Standards that apply for the first time in 2025 do not have an impact on the interim condensed consolidated financial statements.

 

 

  
 9
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  
6.Cash and cash equivalents

 

  Weighted average rate (p. a.) September 30, 2025 December 31, 2024
       
Cash and cash equivalents   12,007 8,708
Short-term financial investments      
Short-term financial investments – Brazilian Reais 14.88% 14,724 31,758
Short-term financial investments – US dollars 2.48% 10,740 12,379
Short-term financial investments – Pound sterling 2.50% 4,488 3,180
Short-term financial investments – Canadian Dollar 0.45% 868 596
Short-term financial investments – Chinese Yuan 1.30% 471 -
       
Total   43,298 56,621

 

7.Accounts receivable and contract assets

 

7.1Accounts receivable

 

The balances of accounts receivable are presented as follows:

 

  September 30, 2025 December 31, 2024
Accounts receivable – in US$ – from United States based customers  38,244 58,777
Accounts receivable – in R$ – from Brazil based customers  36,686 26,562
Accounts receivable – other currencies – from other foreign based customers  14,792 11,122
(-) Expected credit losses  (2,916)  (2,744)
     
Accounts receivables, net  86,806  93,717

 

The balance of accounts receivable by maturity date is as follows:

 

  September 30, 2025 December 31, 2024
Current  79,405  85,099
Overdue:    
from 1 to 60 days  6,557  8,860
61 to 360 days  1,070  2,430
Over 360 days  2,690  72
(-) Expected credit losses  (2,916)  (2,744)
     
Total  86,806 93,717

 

On the date of such unaudited condensed consolidated interim financial statements, of the total amount overdue for up to 60 days, the amount of US$ 4,323 has already been collected.

 

  
 10
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

The rollforward of the allowance for expected losses is as follows:

  Expected credit losses
   
December 31, 2024  (2,744)
Provision  (341)
Reversal  571
Translation to presentation currency  (402)
   
September 30, 2025 (2,916)

 

As of September 30, 2025, the average expected credit loss rate under the method applied by the Group was 0.02% (0.02% as of December 31, 2024), except for certain customers with impairment of 100%, resulting in an expected credit loss amounting to US$ 2,901 (of the total of US$ 2,916). As of December 31, 2024, the exception pertains to certain customers with impairment ranging from 80% to 100%, resulting in a total impairment amount of US$ 2,727 (of the total of US$2,744).

 

7.2Contract assets

 

The balances of contract assets are presented as follows:

 

  September 30, 2025 December 31, 2024
Contract assets – in US$ – from United States based customers  15,996  6,966
Contract assets – in R$ – from Brazil based customers  30,639  12,607
Contract assets – other currencies – from other foreign based customers  5,572  2,819
(-) Expected credit losses  (158)  (136)
     
Contract assets, net  52,049  22,256

 

 

  
 11
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

The rollforward of the allowance for expected losses is as follows:

  Expected credit losses
   
December 31, 2024  (136)
Provision  (555)
Reversal  543
Translation to presentation currency  (10)
   
September 30, 2025 (158)

 

 

  
 12
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  
8.Property and equipment

 

 

The rollforward in the balances are as follows:

 

Cost Weighted average rate (p. a.) December 31, 2024 Additions Disposals Transfers Translation to presentation currency September 30, 2025
IT equipment   14,131 2,715 (609) 25 2,346 18,608
Leasehold improvements   3,613 38 (4) 102 499 4,248
Furniture and fixtures   1,188 137 (39) (17) 164 1,433
In progress   35 82 - (110) 2 9
    18,967 2,972 (652) - 3,011 24,298
               
Depreciation              
IT equipment 22.40% (9,810) (1,611) 565 - (1,677) (12,533)
Leasehold improvements 15.60% (2,518) (394) 1 - (388) (3,299)
Furniture and fixtures 12.00% (743) (140) 34 - (127) (976)
    (13,071) (2,145) 600 - (2,192) (16,808)
               
Total   5,896 827 (52) - 819 7,490

 

The Group does not have property or equipment pledged as collateral.

 

  
 13
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  
9.Intangible assets and goodwill

 

The rollforward of intangible assets is as follows:

 

Cost Weighted average rate (p. a.)

December 31,

2024 

Additions

 

 

Disposals

Transfers Translation to presentation currency September 30, 2025
Customer relationship   55,766 -  -  -  3,590  59,356
Software   11,844  143  -  5,406  2,119  19,512
Software in progress   2,176  6,889  (41)  (5,406)  498  4,116
Non-compete agreement   2,125  276  -  -  411  2,812
Other   5,478  -  -  -  976  6,454
Goodwill   260,766  -  -  -  21,437  282,203
    338,155  7,308    (41)  -  29,031  374,453
               
Amortization              
Customer relationship 13.14% (17,668)  (5,577)  -  -  (1,714)  (24,959)
Software 27.59% (5,157)  (2,422)  -  -  (934)  (8,513)
Non-compete agreement 20.00% (1,350)  (450)  -  -  (298)  (2,098)
Other 5.00% (4,696)  (37)  -  -  (850)  (5,583)
    (28,871)  (8,486)  -  -  (3,796)  (41,153)
               
Total   309,284  (1,178)  (41)  -  25,235  333,300

 

  
 14
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

10.Loans and borrowings

 

The rollfoward of loans and borrowings is set forth below:

 

  Average effective interest rate p.a. Year of maturity December 31, 2024 Proceeds from loans and borrowings Payments of loans and borrowings Interest paid Interest expenses Exchange rate changes Translation to presentation currency September 30, 2025
In US$                    
Advance on foreign exchange contract 5.15% 2026  10,297  24,722  (9,926)  (568)  652  (1,893)  2,098  25,382
Export credit note 6.69% 2026  16,746  -  (7,541)  (855)  730  (2,193)  2,240  9,127
Working capital loan 5.02 to 7.23% 2026 to 2028  76,497  -  (12,272)  (2,861)  3,669  -  4  65,037
      103,540  24,722  (29,739)  (4,284)  5,051  (4,086)  4,342  99,546
                     
In R$                    
Export credit note 15.98% 2026 to 2028  35,195  -  (4,272)  (4,025)  3,999  -  5,455  36,352
       35,195  -  (4,272)  (4,025)  3,999  -  5,455  36,352
                     
Total      138,735  24,722  (34,011)  (8,309)  9,050  (4,086)  9,797  135,898
                     
Current     46,227              69,326
Non-current     92,508              66,572

 

The loans and borrowings are not secured by property and equipment or accounts receivable.

  
 15
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

10.1Advances on foreign exchange contract

 

On June 16, 2025, the subsidiary CI&T Brazil obtained funding of US$ 24,722 at a nominal annual interest rate of 5.15%. The principal and interest are due in a single installment in June 2026. The proceeds will be used for general corporate purposes.

 

10.2Covenants

 

The Group has restrictive clauses covenants in some of its loans and financing agreements, as disclosed in the annual financial statements of December 31, 2024, and summarized below:

 

Restrictive clause related to: Measurement frequency Indicators Required Result
Export credit note Annual Net debt(a)/ EBITDA(b) Less than or equal to 3.0X In compliance
Working capital Annual Net debt(a)/ EBITDA(a) Less than or equal to 3.0X In compliance

 

(a)Net debt means total loans, less cash and cash equivalents.

(b) As defined in the debt agreements, EBITDA means earnings before interest, tax, depreciation and amortization, where interest refers to net finance costs.

 

The Group’s financial covenants are measured at year end based on the provisions of the debt arrangements. The early maturity of the loans could be also caused by disposal, merger, incorporation, spin-off, or any other corporate reorganization process that implies a change in the shareholding controls, without prior consent from the creditor.

 

10.3Loans and borrowings maturity

 

Maturity 1 month 1 - 3 months 3 - 6 months 6 - 12 months 1 - 3 years 3 - 5 years Total
Loans and borrowings  3,670  9,543  4,448  51,665  57,347  9,225  135,898

 

  
 16
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

11.Salaries and welfare charges

 

  September 30, 2025 December 31, 2024
     
Accrued vacation and charges 26,443 20,025
Bonus 6,890 8,071
Salaries 7,282 5,978
Withholding income tax 4,008 5,184
Payroll charges 4,315 3,496
Christmas bonuses 5,127 517
Other 1,734 1,283
     
Total 55,799 44,554

 

12.Derivatives

 

The Group holds derivative financial instruments to hedge its interest rate risk exposure.

 

  September 30, 2025
         
Maturity Notional in US$ Floating rate receivable Fixed rate payable Fair value
07/16/2026 9,000 SOFR(a) overnight 3.09% 3
07/07/2026 6,178 CDI(b) US$ variation + 4.90% (477)
Total       (474)

 

  December 31, 2024
         
Maturity Notional in US$ Floating rate receivable Fixed rate payable Fair value
07/16/2026 16,500 SOFR(a) overnight 3.09% 723
07/07/2026 9,287 CDI(b) US$ variation + 4.90% (2,370)
Total       (1,647)

 

(a)SOFR means Secured Overnight Financing Rate.
(b)CDI means Interbank Deposit Certificate, an average of interbank overnight rates in Brazil.

 

The rollforward of the derivatives is as follows:

 

  Interest rate swaps
December 31, 2024 (1,647)
Gains recognized in the statement of profit or loss 1,410
Settlement of derivatives (91)
Translation adjustment (146)
September 30, 2025 (474)
   
Asset position on derivative financial instruments 3
Liability position on derivative financial instruments (477)

 

  
 17
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

13.Equity

 

13.1Share capital

 

As of September 30, 2025, the total issued share capital is US$ 7 with a par value of US$ 0.00005. The rollforward of share capital is as follows:

 

  Amount of Number of ordinary nominative shares
  share capital Total Class A Class B
         
December 31, 2024 7 134,682,256 22,498,572 112,183,684
Share based compensation - (2,850) (2,850) -
Class B converted to class A - (100,000) 1,307,114 (1,407,114)
September 30, 2025 7 134,579,406 23,802,836 110,776,570

 

According to the Parent Company's Articles of Association, the outstanding Class B common shares are convertible at any time at the option of the holder into Class A common shares.

 

13.2Treasury shares reserve

 

On December 19, 2024, the Board of Directors approved the renewal of the share repurchase program, pursuant to which the Parent Company may repurchase up to five million of its outstanding class A common shares. The rollforward of the treasury shares reserve is as follows:

 

  Number of shares Amount (in US$)
 December 31, 2024 914,218 (6,457)
 Share buyback 4,645,711 (27,342)
 Equity awards settled in treasury stock (796,983) 5,299
 September 30, 2025 4,762,946 (28,500)

 

On 12 September 2025, the Board of Directors approved the renewal of share repurchase program, authorizing the repurchase of up to five million of its outstanding class A common shares, within the period ending on 31 December 2026.

 

  
 18
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

14.Revenue

 

14.1Revenue by nature of service

 

The Group primarily generates revenue through the provision of services summarized by nature in the table below:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Software development revenue 121,652 106,775 340,399 312,317
Software maintenance revenue 2,401 2,842 7,464 7,188
Consulting revenue 2,253 1,751 5,678 4,889
Other revenue 1,006 864 1,832 2,034
         
Total revenue 127,312 112,232 355,373 326,428

 

14.2Revenue by industry vertical

 

The following table sets forth the revenue by industry vertical for the periods indicated:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Financial services 48,072 31,826 127,101 91,916
Retail and industrial goods 26,199 23,511 74,589 62,100
Consumer goods 24,668 25,113 72,491 72,577
Technology and telecommunications 12,140 12,783 33,740 37,324
Life sciences 9,690 9,264 28,208 30,673
Other 6,543 9,735 19,244 31,838
         
Total revenue 127,312 112,232 355,373 326,428

 

14.3Revenue by country

 

The table below summarizes revenues by country:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Brazil 61,342 45,350 165,547 133,687
United States of America 54,558 51,396 155,392 143,602
Other countries 11,412 15,486 34,434 49,139
         
Total revenue 127,312 112,232 355,373 326,428

 

Revenue by country was determined based on the country in which the sale occurred.

  
 19
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

14.4Revenue by client concentration

 

Revenue generated from one single external customer (the Group’s top client) represents 11.2% of the Group’s total revenues as of September 30, 2025 (6.9% as of September 30, 2024).

 

15.Expenses by nature

 

Information on the nature of expenses recognized in the unaudited condensed consolidated interim statement of profit or loss is presented below:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Employee expenses (92,172) (79,950) (259,311) (237,511)
Third-party services and other inputs (7,875) (6,374) (21,399) (18,428)
Depreciation and amortization (4,685) (4,304) (13,686) (13,206)
Share-based compensation (1,300) (1,957) (3,684) (3,986)
Travel expenses (1,455) (1,063) (3,983) (3,135)
Impairment gains (losses) on accounts receivable and contract assets (21) (947) 218 (1,467)
Insurance (374) (387) (1,103) (1,196)
Short-term leases (310) (248) (846) (724)
Other costs and expenses (a) (1,571) (2,882) (4,319) (7,431)
         
Total (109,763) (98,112) (308,113) (287,084)

 

(a) In 2024, the costs primarily consist of business restructuring expenses related to our subsidiaries in the United Kingdom, United States of America, Canada and Australia, which amounted to US$ 2,210.

  
 20
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

 

16.Net finance costs

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
Finance income: 4,542 3,936 14,084 10,593
Foreign-exchange gain 2,852 2,079 7,442 5,933
Income from financial investments 757 614 2,746 1,374
Gains on derivatives 589 773 2,872 1,530
Interest income on other assets 273 182 876 957
Other finance income 71 288 148 799
         
Finance costs: (8,653) (7,645) (20,955) (19,023)
Interest and charges on loans and leases (3,347) (3,525) (9,668) (10,659)
Foreign-exchange loss (4,239) (2,775) (8,602) (4,327)
Loss on derivatives (563) (685) (1,462) (2,552)
Interest expenses on other liabilities (189) (197) (562) (577)
Other finance costs (315) (463) (661) (908)
         
Net finance costs (4,111) (3,709) (6,871) (8,430)

 

 

  
 21
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

 

17.Income tax expense

 

Income tax expense recognized in profit or loss for the periods are shown as follows:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Current  (3,718)  (3,901)  (6,550)  (8,122)
Deferred  (857)  (1,358)  (7,787)  (3,807)
         
Total income tax expense  (4,575)  (5,259)  (14,337)  (11,929)

 

17.1 Effective tax rate reconciliation

 

The nominal tax rate was computed based on the Brazilian tax law, taking into account the combined income tax and social contribution tax rate given that Brazil is currently the main operation of the Group. The reconciliation of the effective tax rate with the average nominal tax rate is as follows:

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Profit before income tax  13,438  10,411  40,389  30,914
Nominal income tax rate 34% 34% 34% 34%
Tax expenses per nominal income tax rate  (4,569)  (3,540)  (13,732)  (10,511)
         
Tax benefits incentives  752  1,107  943  1,071
Tax rate differences on subsidiaries  214  (104)  1,687  676
Permanent differences  (368)  (524)  (739)  (499)
Tax losses for which no deferred tax asset is recognized  (625)  (2,198)  (2,106)  (2,666)
Other 21 - (390) -
         
Income tax expense  (4,575)  (5,259)  (14,337)  (11,929)
         
Effective rate 34.00% 51.00% 35.00% 39.00%

 

 

  
 22
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  

17.2 Movement in deferred tax balances

 

  December 31, 2024 Recognized in profit or loss Reclassification Translation to presentation currency September 30, 2025 Assets  Liabilities
 Goodwill (22,009)  (6,421)  -  (3,633)  (32,063)  -  (32,063)
 Provisions 1,654  150  -  208  2,012  2,012  -
 Property and equipment 1,316  427  -  71  1,814  1,814  -
 Derivatives 560  (462)  -  63  161  161  -
 Bonus accrued 2,260  (608)  -  282  1,934  1,934  -
 Intangible assets (2,065)  147  -  (359)  (2,277)  -  (2,277)
 Share-based compensation 2,101  294  -  175  2,570  2,570  -
 Lease 406  (281)  -  28  153  153  -
 Other temporary differences 922  (1,033)  (31)  47  (95)  (95)  -
               
Total  (14,855)  (7,787)  (31)  (3,118)  (25,791)  8,549  (34,340)
Offset of deferred taxes            (8,005)  8,005
Net tax assets (liabilities)          (25,791)  544  (26,335)

 

  
 23
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  
18.Financial instruments – fair values

 

18.1Accounting classification and fair values

 

The following table presents the carrying amounts and fair values of financial assets and financial liabilities, along with their respective levels in the fair value hierarchy. It excludes fair value information for financial assets and financial liabilities that are not measured at fair value, provided the carrying amount is a reasonable approximation of fair value.

 

      September 30, 2025
Financial assets Note Level Fair value Carrying amount
Derivative financial instruments 12 2 3 3
Cash and cash equivalents 6 1 43,298 43,298
         
Financial liabilities        
Derivative financial instruments 12 2 (477) (477)
Loans and borrowings 10 2 (136,035) (135,898)

 

 

      December 31, 2024
Financial assets Note Level Fair value Carrying amount
Derivative financial instruments 12 2 723 723
Cash and cash equivalents 6 1 56,621 56,621
         
Financial liabilities        
Derivative financial instruments 12 2 (2,370) (2,370)
Loans and borrowings 10 2 (136,608) (138,735)

 

19.Related parties

 

19.1Transactions with key management personnel

 

  Three months ended September 30, 2025 Three months ended September 30, 2024 Nine months ended September 30, 2025 Nine months ended September 30, 2024
         
Direct compensation 427 413 1,548 1,321
Share-based compensation program 57 24 108 33

 

The Group has no additional post-employment obligation, as well as no other long-term benefits, such as premium leave and other severance benefits. The Group also does not offer other benefits in connection with the dismissal of its Senior Management’s members. These expenses are recognized in general and administrative expenses.

 

20.Operating segments

 

Operating segments are defined based on business activities that reflect how the Chief Operating Decision Maker (“CODM”) reviews financial information within the decision-making process.

 

The Group's CODM is the Group's Board of Directors. The CODM oversees operational decisions related to resource allocation and performance evaluation. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment.

 

  
 24
 

CI&T Inc.

Notes to the unaudited condensed consolidated interim financial statements

September 30, 2025

(In thousands of United States dollars – US$, unless otherwise indicated)

  
21.Non-cash transactions

 

  Additions of property and equipment Additions and disposals of right-of-use assets Share-based compensation exercised Total
As of September 30, 2025        
         
Property and equipment 5 - - 5
Right-of-use assets - 2,417 - 2,417
Suppliers and other payables (5) - - (5)
Lease liabilities - (2,417) - (2,417)
Equity settled share-based payment exercised - - (5,299) (5,299)
Treasury shares reissued - - 5,299 5,299
         
Total - - - -

 

  Additions of property and equipment Additions and disposals of right-of-use assets Total
As of September 30, 2024      
       
Property and equipment 4 - 4
Right-of-use assets - 4,385 4,385
Suppliers and other payables (4) - (4)
Lease liabilities - (4,385) (4,385)
       
Total - - -

 

 

22.Subsequent events

 

On November 11, 2025, the Board of Directors approved an increase of 3,350,000 Class A common shares (par value US$0.00005 per share) to aggregate the number of shares available for issuance under CI&T Incentive Plans. This is a non-adjusting subsequent event as the conditions did not exist as of September 30, 2025. Accordingly, no adjustments have been made to the financial statements as of that date.

 

  
 25

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 12, 2025


CI&T Inc


By: /s/ Stanley Rodrigues


Name: Stanley Rodrigues


Title: Chief Financial Officer

FAQ

What were CI&T (CINT) 3Q25 revenues and growth?

Revenue was US$127.3 million, up 13.4% year over year, or 12.1% at constant currency.

How profitable was CI&T in 3Q25?

Adjusted EBITDA was US$23.5 million with an 18.5% margin; profit was US$8.9 million.

What was CI&T’s 3Q25 EPS?

Diluted EPS was US$0.07 (up 81.1%); adjusted diluted EPS was US$0.09 (up 16.4%).

What guidance did CI&T provide for 4Q25 revenue?

CI&T expects US$130.4–US$132.6 million, implying 12.5% constant-currency growth at the midpoint and 16.8% reported growth versus US$112.5 million in 4Q24.

What is CI&T’s full-year 2025 outlook?

The Company expects 12.5%–13.0% organic revenue growth at constant currency and an adjusted EBITDA margin of 18%–20%.

How did CI&T perform with key clients in 3Q25?

Revenue among the top 10 clients grew 19.5% year over year; the top client represented 11.2% of total revenue as of September 30, 2025.

What were CI&T’s 9M25 operating cash metrics?

Cash generated from operating activities was US$46.4 million in the first nine months of 2025.
CI&T Inc

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