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CI&T Reports Double-Digit Sequential Revenue Growth in 3Q24 Results

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CI&T (NYSE: CINT) reported strong financial results for Q3 2024, achieving record net revenue of R$622.2 million, representing a 17.6% year-over-year increase and 10.0% sequential growth. Net profit rose by 5.6% to R$28.6 million, while adjusted EBITDA improved by 24.2% to R$121.4 million with a 19.5% margin. The company's adjusted net profit increased by 32.9% to R$56.5 million, maintaining a 9.1% margin. Employee headcount grew by 8.3% from Q2 2024 to 6,755. Management provided guidance projecting 22% year-over-year revenue growth for Q4 2024.

CI&T (NYSE: CINT) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, raggiungendo un fatturato netto record di R$622,2 milioni, con un aumento del 17,6% rispetto all’anno precedente e una crescita sequenziale del 10,0%. L'utile netto è aumentato del 5,6% raggiungendo R$28,6 milioni, mentre l'EBITDA rettificato è cresciuto del 24,2% a R$121,4 milioni, con un margine del 19,5%. L'utile netto rettificato dell'azienda è aumentato del 32,9% a R$56,5 milioni, mantenendo un margine del 9,1%. Il numero di dipendenti è aumentato dell'8,3% dal Q2 2024, arrivando a 6.755. La gestione ha fornito previsioni che indicano una crescita del fatturato del 22% anno su anno per il Q4 2024.

CI&T (NYSE: CINT) reportó resultados financieros sólidos para el tercer trimestre de 2024, alcanzando un ingreso neto récord de R$622,2 millones, lo que representa un 17,6% de aumento interanual y un 10,0% de crecimiento secuencial. La utilidad neta aumentó un 5,6% a R$28,6 millones, mientras que el EBITDA ajustado mejoró un 24,2% a R$121,4 millones con un margen del 19,5%. La utilidad neta ajustada de la empresa creció un 32,9% hasta R$56,5 millones, manteniendo un margen del 9,1%. La cantidad de empleados aumentó un 8,3% desde el Q2 2024, alcanzando los 6.755. La dirección proporcionó una guía proyectando un crecimiento de ingresos del 22% interanual para el Q4 2024.

CI&T (NYSE: CINT)는 2024년 3분기에 강력한 재무 결과를 보고하였으며, 기록적인 순매출 R$622.2백만을 달성하였습니다. 이는 전년 대비 17.6% 증가하며 전분기 대비 10.0% 성장한 수치입니다. 순이익은 5.6% 증가하여 R$28.6백만에 이르렀고, 조정 EBITDA는 24.2% 상승하여 R$121.4백만에 도달하며 19.5%의 마진을 보였습니다. 회사의 조정된 순이익은 32.9% 증가하여 R$56.5백만에 이르렀으며, 9.1%의 마진을 유지했습니다. 직원 수는 2024년 2분기 대비 8.3% 증가하여 6,755명에 달했습니다. 경영진은 2024년 4분기에 대해 전년 대비 22%의 매출 성장을 예측하는 가이드를 제공했습니다.

CI&T (NYSE: CINT) a annoncé de solides résultats financiers pour le troisième trimestre 2024, atteignant un chiffre d'affaires net record de R$622,2 millions, représentant une augmentation de 17,6% par rapport à l'année précédente et une croissance séquentielle de 10,0%. Le bénéfice net a augmenté de 5,6% pour atteindre R$28,6 millions, tandis que l'EBITDA ajusté s'est amélioré de 24,2% pour atteindre R$121,4 millions avec une marge de 19,5%. Le bénéfice net ajusté de l'entreprise a augmenté de 32,9% pour atteindre R$56,5 millions, maintenant une marge de 9,1%. Les effectifs ont augmenté de 8,3% par rapport au T2 2024 pour atteindre 6 755. La direction a fourni des prévisions projetant une croissance des revenus de 22% d'une année sur l'autre pour le T4 2024.

CI&T (NYSE: CINT) hat starke finanzielle Ergebnisse für das dritte Quartal 2024 gemeldet, mit einem Rekordnettoeinkommen von R$622,2 Millionen, was einem 17,6% Anstieg im Vergleich zum Vorjahr und einem 10,0% sequenziellen Wachstum entspricht. Der Nettogewinn stieg um 5,6% auf R$28,6 Millionen, während das bereinigte EBITDA um 24,2% auf R$121,4 Millionen mit einer Marge von 19,5% verbessert wurde. Der bereinigte Nettogewinn des Unternehmens erhöhte sich um 32,9% auf R$56,5 Millionen und behielt eine Marge von 9,1% bei. Die Mitarbeiterzahl wuchs von Q2 2024 um 8,3% auf 6.755. Das Management gab eine Prognose ab und erwartet ein Umsatzwachstum von 22% im Vergleich zum Vorjahr für Q4 2024.

Positive
  • Record net revenue of R$622.2 million, up 17.6% YoY and 10.0% QoQ
  • Adjusted EBITDA grew 24.2% YoY to R$121.4 million
  • Adjusted net profit increased 32.9% YoY to R$56.5 million
  • Strong guidance of 22% YoY revenue growth projected for Q4 2024
  • 8.3% sequential growth in workforce indicating business expansion
Negative
  • Net profit growth of 5.6% YoY lagged behind revenue growth rate

Insights

CI&T's Q3 results demonstrate robust financial performance with notable improvements across key metrics. The R$622.2 million revenue represents a strong 17.6% year-over-year growth and 10% sequential increase. The company's profitability metrics are particularly impressive, with Adjusted EBITDA growing 24.2% to R$121.4 million and maintaining a healthy 19.5% margin.

The 32.9% increase in Adjusted Net Profit to R$56.5 million indicates improving operational efficiency. The 8.3% workforce expansion suggests confidence in future growth prospects. The management's guidance of 22% year-over-year revenue growth for Q4 signals continued momentum and strong market positioning in the technology transformation sector.

NEW YORK--(BUSINESS WIRE)-- CI&T (NYSE: CINT, “Company”), a global technology transformation specialist and fast-growing public company, today announces its results for the third quarter of 2024 (3Q24) in accordance with International Financial Reporting Standards (IFRS). For comparison purposes, we refer to the results for the third quarter of 2023 (3Q23) and the second quarter of 2024 (2Q24).

Third quarter of 2024 (3Q24) highlights

  • Record Net Revenue of R$622.2 million, a 17.6% increase compared to 3Q23 and 10.0% sequential growth over 2Q24.
  • Net Profit increased by 5.6%, reaching R$28.6 million in 3Q24, up from R$27.0 million in 3Q23.
  • Adjusted EBITDA improved by 24.2% to R$121.4 million in 3Q24 compared to R$97.7 million in 3Q23. The Adjusted EBITDA margin was 19.5%.
  • Adjusted Net Profit increased by 32.9% to R$56.5 million in 3Q24, up from R$42.5 million in 3Q23. The Adjusted Net Profit margin was 9.1%.
  • CI&T ended 3Q24 with 6,755 employees, an 8.3% increase from 2Q24.

Cesar Gon, founder and CEO of CI&T, commented, "We are delighted to report 17.6% year-over-year revenue growth for 3Q24, showcasing the strength and resilience of our business model. Our value proposition through CI&T Flow continues to gain significant traction with clients, as evidenced by the revenue growth among our top 10 clients."

"Looking forward, our guidance projects 22% year-over-year revenue growth for 4Q24 at the midpoint, reflecting our confidence in sustaining this momentum. As we move into 2025, we are well-positioned to capitalize on the growing demand for innovative solutions, driven by our commitment to providing exceptional value for all our stakeholders and fostering long-lasting client relationships."

The full 3Q24 Earnings Release can be accessed here.

Investor Relations Contact:

Eduardo Galvão

investors@ciandt.com

Media Relations Contact:

Zella Panossian

ciandt@illumepr.com

Source: CI&T Inc.

FAQ

What was CI&T's (CINT) revenue growth in Q3 2024?

CI&T reported revenue growth of 17.6% year-over-year and 10.0% sequential growth, reaching R$622.2 million in Q3 2024.

What is CI&T's (CINT) projected revenue growth for Q4 2024?

CI&T projects 22% year-over-year revenue growth for Q4 2024 at the midpoint of their guidance.

How much did CI&T's (CINT) adjusted EBITDA grow in Q3 2024?

CI&T's adjusted EBITDA grew 24.2% year-over-year to R$121.4 million in Q3 2024, with a margin of 19.5%.

What was CI&T's (CINT) employee headcount in Q3 2024?

CI&T ended Q3 2024 with 6,755 employees, representing an 8.3% increase from Q2 2024.

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