Highlights

  • CI&T increased second-quarter revenue by 21.9%, while constant-currency growth reached 14.1%, highlighting a material exchange-rate contribution.
  • Adjusted EBITDA fell 11.8% as the quarterly margin narrowed to 13.3%, despite the increase in sales.
  • Management raised its annual revenue outlook and retained a full-year adjusted EBITDA margin target above the quarterly result.
  • The company repurchased more than one million shares during the first half while borrowings exceeded cash holdings.

Revenue growth and earnings moved in opposite directions at CI&T (NYSE:CINT), leaving profitability at the centre of its latest update. Second-quarter sales rose 21.9%, but adjusted EBITDA and net income declined. The digital technology services group nevertheless raised its annual revenue outlook, setting a stronger sales trajectory alongside a margin target that exceeds its latest quarterly performance.

Currency Adds to Sales Momentum

Results released on 11 August covered the second quarter of 2026. Revenue reached USD 142.8 million, compared with USD 117.2 million a year earlier. Constant-currency growth was 14.1%, below the reported increase, showing that exchange rates contributed materially to the dollar-denominated result.

Chief executive Cesar Gon described the expansion as entirely organic and broad-based across geographies, industries and clients. He also identified a seventh consecutive quarter of double-digit organic growth. The distinction between reported and constant-currency performance remains relevant because the two growth measures capture different effects.

Higher Revenue Delivers Lower Profit

Adjusted EBITDA declined 11.8% to USD 19.0 million. Its margin narrowed to 13.3% from 18.4% a year earlier, while net income fell to USD 5.8 million from USD 9.7 million.

Adjusted profit decreased 29.2% to USD 8.7 million. Diluted earnings per share were USD 0.05, compared with USD 0.07, and adjusted diluted earnings per share slipped to USD 0.07 from USD 0.09.

These figures show that the additional revenue did not translate into higher earnings during the quarter. The available results do not identify a specific cause for the margin decline. The deterioration affected both adjusted EBITDA and net income despite the larger sales base.

Raised Outlook Sets a Profitability Test

For the third quarter, management expects revenue of at least USD 145.7 million, representing growth of 14.4%, or 12.3% at constant currency. Its 2026 revenue outlook is USD 565.5 million to USD 577.8 million, implying organic growth of 15.5% to 18.0%.

The annual adjusted EBITDA margin target is 15.0% to 17.0%. Guidance assumes an average exchange rate of 5.17 Brazilian reais per US dollar. The earlier revenue range was not specified, preventing a precise comparison with the revised outlook.

The annual margin range sits above the second-quarter result. Delivery therefore depends on stronger profitability than the latest quarter alone demonstrated. These figures remain management forecasts rather than completed results.

Cash, Borrowings and Capital Returns

Cash and equivalents increased to USD 53.4 million at 30 June from USD 47.9 million at the end of 2025. Operating cash flow totalled USD 17.8 million for the first half, while loans and borrowings stood at USD 135.8 million.

During the half-year, the company repurchased 1,393,236 Class A shares for USD 6.2 million. Its authorisation covers up to five million shares and runs through 31 December 2026. The combination of cash generation, outstanding borrowings and continuing repurchases forms the financial backdrop to the raised sales outlook.