Concentrix Achieves Milestone: 50% of Revenue Now Comes from Businesses Generated in the Last Three Years
Concentrix, a leading provider of business services and solutions, has achieved a significant milestone. According to the company's recent Q3 2026 financial results conference call, Concentrix has crossed the mark that 50% of its revenue now comes from businesses generated in the last three years.
This achievement is a testament to the company's success in evolving its business and adapting to the changing landscape driven by generative AI. Over the past three years, Concentrix has invested heavily in deploying AI technology and expanding its services offerings, leading to significant growth in revenue from new clients and existing clients that have undergone transformation or are influenced by AI.
The $3 billion of revenue generated from these sources is comprised of businesses that have either gone through heavy transformation or have AI influencing the revenue, as well as net revenue resulting from the compression of traditional services using Concentrix's iX Suite AI platform. Additionally, the company has introduced new high-value services across growing segments like risk and compliance, generating an additional $700 million in revenue.
Compared to Concentrix's traditional business, this revenue is growing faster at a 30% year-over-year growth rate in fiscal 2026, is more profitable, and is stickier with a revenue retention rate four times higher. This demonstrates the company's ability to not only adapt to changing market conditions but also capitalize on emerging trends.
Concentrix President and CEO Chris Caldwell expressed confidence and excitement about the future during the conference call, citing expected new business revenues of $6 billion in 2027. He noted that the company is winning new clients and evolving existing clients into new services, with all top-five clients and more than 90% of top-100 clients expanding into new services since fiscal year 2023.
The average tenure with clients remains strong at over 16 years for top-25 clients and 15 years for top-50 clients, with a 98% retention rate across the entire client base. These statistics demonstrate Concentrix's solid foundation and its ability to push the evolution of its business quickly.
As companies continue to scale AI and disrupt their traditional businesses, Concentrix is well-positioned to take advantage of this momentum. By actively focusing on disrupting its own traditional business, the company aims to expand profitably and deepen client relationships.
