Key Highlights

  • Third-quarter Revenue reached a record USD 146.3 million, up 14.9% and entirely organic, or 11.2% at constant currency, ahead of the company's outlook of at least USD 145.7 million.
  • Adjusted Gross Profit rose 24% to USD 53.5 million, lifting adjusted gross Margin to 36.6%, while adjusted EBITDA was USD 22.6 million at a 15.5% margin, up from 13.3% last quarter.
  • Adjusted profit was USD 11.5 million, up 2%, and adjusted Diluted Earnings per Share were USD 0.09, up 4.5%, helped by USD 2.9 million of share repurchases in the quarter.
  • Management raised the low end of 2026 revenue guidance to USD 568 million, with a range up to USD 578 million, and guided fourth-quarter revenue to USD 142.3 million to USD 152.0 million.

Record Revenue Spreads Beyond the Largest Clients

CI&T (NYSE:CINT) held its third-quarter 2026 Earnings Call on November 12, 2026. The digital and AI services provider said revenue reached USD 146.3 million, up 14.9%, while nine-month revenue was USD 425.7 million, up 19.8%, or 13.6% at constant currency. Latin America grew 20%, New Markets 17.6% and North America 8.7%, with North America up 3.9% from the second quarter. Financial services, the largest vertical, grew 26.1% and technology and telecom grew 40.2%. Revenue from clients outside the top 10 grew 17.1%, ahead of 12.2% from the largest accounts, the third straight quarter the broader base outpaced the biggest clients, management said. The company does not rely on a few large relationships, according to the call.

Value-Based Contracts Lift Gross Margin as Headcount Flattens

Management said it closed the quarter with about the same number of AI builders as a year earlier while revenue grew, lifting revenue per builder over the past 12 months to USD 82,500, up 10%. Adjusted gross profit rose 15.8% from the second quarter, and 40% of new engagements signed were value-based, up from 30% in the first half. These contracts pay for outcomes rather than hours, so productivity gains become margin. Adjusted EBITDA was down 3.9% year over year because of a stronger Brazilian real, and management said it would have been USD 24.3 million, a 17.2% margin, without currency effects. Selling expenses rose to 14% of revenue from 11.9% in the second quarter.

Wider Fourth-Quarter Range Reflects Election and Currency Risk

For the fourth quarter, management guided revenue to USD 142.3 million to USD 152.0 million, which at the midpoint is 9.6% growth in US dollars. It attributed the wide range to Brazil and the United States emerging from election cycles, with budgets being set and currencies more volatile. The full-year range of USD 568 million to USD 578 million implies 16% to 18% organic growth and includes about 450 basis points of positive currency impact. Adjusted EBITDA margin is still expected at 15% to 17%. Operating Cash Flow was USD 22.4 million, and management said the pipeline is 50% larger than a year ago, with 70% from existing clients. Third-quarter growth of 14.9% compares with 19.8% for the nine months.

Where Things Stand

By getting paid more for outcomes while keeping the team about the same size. CI&T (NYSE:CINT) grew adjusted gross profit faster than revenue as value-based deals, AI tooling and lower general and administrative costs improved operating leverage. Currency cut both ways: the stronger real trimmed year-over-year adjusted EBITDA, yet it also adds about 450 basis points to the full-year revenue outlook. The next markers are fourth-quarter conversion of the pipeline, the annual revenue retention rate management plans to disclose next quarter, and 2027 guidance.