Genpact (G) Q4 2024 earnings summary

Executive summary

• Q4 revenue reached $1.25 billion, up 9% year-over-year, with Data-Tech-AI revenue up 12% and Digital Operations up 6% year-over-year.

• Full-year 2024 revenue grew 6.5% to $4.77 billion, exceeding initial guidance midpoint by 400 basis points.

• Adjusted diluted EPS for 2024 was $3.28, up 10% year-over-year; diluted EPS was $2.85, down 16% due to a prior year non-recurring tax benefit.

• New bookings for 2024 totaled $5.7 billion, up 15% year-over-year, with 14 large deals closed and 101 new logos added.

• Innovation initiatives included the launch of agentic solutions, AI Value Studio, and the Genpact Gigafactory to accelerate AI adoption.

Financial highlights

• Q4 net revenue: $1.25 billion (+9% YoY); Data-Tech-AI: $595 million (+12% YoY); Digital Operations: $654 million (+6% YoY).

• Full-year gross margin improved 40 bps to 35.5%; adjusted operating income: $814 million (+6.7% YoY); margin: 17.1%.

• Q4 net income: $142 million; diluted EPS: $0.79; adjusted diluted EPS: $0.91 (+11.1% YoY).

• Operating cash flow for 2024: $615 million (+25% YoY); cash and equivalents: $648 million at year-end.

• Net income for 2024 was $514 million, down 19% year-over-year, due to a prior year non-recurring tax benefit.

Outlook and guidance

• 2025 revenue guidance: $5.029–$5.125 billion (5.5%–7.7% growth; 6.5% midpoint).

• Data-Tech-AI and Digital Operations revenue expected to grow 6.2% and 6.8% at midpoint.

• Full-year gross margin expected to expand to 36%; adjusted diluted EPS guidance: $3.52–$3.59 (+9% YoY at midpoint).

• Q1 2025 revenue guidance: $1.202–$1.213 billion (6.2%–7.2% growth); adjusted diluted EPS: $0.79–$0.80 (+9% YoY at midpoint).

• Board approved 11% increase in quarterly dividend and $500 million increase in share repurchase authorization.