CONDUENT Inc

Conduent Inc. has completed the sale of its public transit and fare collection business to Modaxo for a base purchase price of $164 million. The company received $140 million in cash at closing, with additional holdbacks totaling $22 million. Conduent intends to use the net proceeds of $125 million to repay its revolving credit facility. This divestment is a strategic move to simplify Conduent's portfolio, sharpen its focus on core businesses, and strengthen its financial foundation. The company also noted that it is progressing with the sale of its Tolling business, expected to close by year-end, which will result in Conduent exiting its Transportation segment.

Conduent announced the divestment of its Public Transit business to Modaxo for $164 million and its Tolling business to Quarterhill Inc. for $70 million cash plus a $14 million equity stake. These transactions represent a strategic exit from the Transportation segment. For Q2 2026, the company reported a net loss of $116 million on revenue of $531 million, compared to a net loss of $40 million on revenue of $603 million in Q2 2025. The loss from discontinued operations significantly contributed to the overall net loss.

Conduent announced its Q2 2026 financial results, reporting a revenue of $531M and a GAAP net loss of $(69)M from continuing operations. The company made significant progress on its transformation, signing divestitures of its Transit and Tolling businesses for $234M in gross proceeds, exceeding its $200M commitment. Conduent is also progressing on an approximately $100M annualized cost-savings program and investing in AI and next-generation Medicaid technology, while providing a FY 2026 revenue outlook of $2,150M - $2,250M.

Conduent Inc. announced that Michael Krawitz, Executive Vice President, General Counsel, and Corporate Secretary, will resign from his position, effective July 31, 2026. Mr. Krawitz is leaving to pursue other professional endeavors and will assist with a smooth transition until his departure date. The company clarified that his resignation is not a result of any disagreement with Conduent's financial reporting, operations, policies, or practices.

Conduent Incorporated announced it has entered into a definitive agreement to sell its Public Transit business, an operating unit of Conduent Transportation, to Modaxo for $164 million. The sale includes the Transit Fare Management and Fleet Management Solutions businesses. This transaction is expected to close before the end of 2026, subject to customary conditions and regulatory approvals, and is part of Conduent's strategy to simplify its portfolio and strengthen its financial foundation, while retaining its Tolling business segment.

Conduent Incorporated announced the appointment of Adam Demuyakor to its Board of Directors, effective June 1, 2026. Mr. Demuyakor, Founder and Managing Partner of Wilshire Lane Capital, brings extensive experience in technology, strategic investing, and business transformation, with a focus on AI and enterprise technology strategy. He will serve on the Compensation, Risk Oversight, and Corporate Governance Committees, enhancing the board's expertise and diversity of thought for the company's ongoing transformation.

Conduent reported Q1 2026 financial results with revenue of $723 million, a 3.7% decrease year-over-year. Despite the revenue decline, the company demonstrated significant improvements in profitability, with pre-tax income improving by $29 million to $(27) million and Adjusted EBITDA increasing by 32.4% to $49 million. CEO Harsha V. Agadi highlighted the start of a rapid transformation, including cost reduction, technology optimization, and an enhanced go-to-market approach, aiming for positive adjusted free cash flow in 2027. New business signings ACV improved to $114 million, and the company provided a positive outlook for FY 2026 and FY 2027.

Conduent reported a revenue of $723 million for Q1 2026, a decrease from $751 million in Q1 2025. Despite the revenue decline, the company significantly reduced its net loss to $33 million, an improvement from a $51 million loss in the prior year period. Basic loss per share also improved to $(0.23) from $(0.33). Operating cash flow showed a substantial improvement, moving from a $(58) million outflow to a $(8) million outflow.

Conduent Inc. announced that Adam Appleby, Executive Vice President of Public Sector Solutions, will resign from his position, effective May 19, 2026. Mr. Appleby is departing to pursue other professional endeavors and will assist with the transition until his effective date. The company clarified that his resignation is not a result of any disagreement regarding its financial reporting, operations, policies, or practices.