Technology

Genpact Reports Full Year and Fourth Quarter 2024 Results

Published

1 year ago

February 6, 2025

2024 Net Revenues of $4.77 billion, Up 6.5% (6.7% constant currency)1,2
2024 Data-Tech-AI Net Revenues of $2.23 billion, Up 6.9%1,2,3,4
2024 Digital Operations Net Revenues of $2.53 billion, Up 6.1% (6.5% constant currency)1,4
2024 Diluted EPS of $2.85, Down 16%; Adjusted Diluted EPS of $3.28, Up 10%5,6
Increases Quarterly Dividend by 11% and Share Repurchase Authorization by $500 million

NEW YORK, Feb. 6, 2025 /PRNewswire/ — Genpact Limited (NYSE: G), a global advanced technology services and solutions company, today announced financial results for the fourth quarter and full year ended December 31, 2024.

“We delivered another strong quarter to close out what has been an outstanding year for Genpact. Q4 revenue grew 9% with Data-Tech-AI up 12%, driving accelerating revenue growth. For the full year, revenue grew 6.5%, with adjusted EPS growth of 10%, consistent with our long-term objective of growing adjusted EPS faster than revenue. We also delivered record new bookings of $5.7 billion, up 15%, building on exceptionally strong new bookings in 2023,” said Balkrishan “BK” Kalra, Genpact’s President and CEO. “Looking ahead, we are incredibly excited about the future as we accelerate the pace of innovation and change at Genpact. Building on our industry-specific domain expertise, our investment in Data, AI and Agentic Solutions is positioning us as a clear leader in AI-driven transformation and driving superior value for our clients.”

Key Financial Highlights – Full Year 2024

Net revenues were $4.77 billion, up 6.5% year-over-year on an as reported basis, and 6.7% on a constant currency basis.1,2Data-Tech-AI net revenues were $2.23 billion, up 6.9% year-over-year, both on an as reported and constant currency basis,1,2,4 representing 47% of total revenue.Digital Operations net revenues were $2.53 billion, up 6.1% year-over-year on an as reported basis, and 6.5% on a constant currency basis,1,4 representing 53% of total revenue.Gross profit was $1.69 billion, up 8% year-over-year, with a corresponding margin of 35.5%.Net income was $514 million, down 19% year-over-year, with a corresponding margin of 10.8%.6Income from operations was $702 million, up 11% year-over-year, with a corresponding margin of 14.7%.Adjusted income from operations was $814 million, up 7% year-over-year, with a corresponding margin of 17.1%.6,7Diluted earnings per share was $2.85, down 16% year-over-year.6Adjusted diluted earnings per share was $3.28, up 10% year-over-year.5,6 New bookings were approximately $5.7 billion, up 15% year-over-year.8Cash generated from operations was $615 million, up 25% year-over-year.Genpact repurchased approximately 7 million of its common shares during the year for total consideration of approximately $253 million at an average price per share of $38.31.

Key Financial Highlights – Fourth Quarter 2024

Net revenues were $1.25 billion, up 8.9% year-over-year on an as reported basis and 8.7% on a constant currency basis.1Data-Tech-AI net revenues were $595 million, up 11.9% year-over-year on an as reported basis, and 11.7% on a constant currency basis,1,4 representing 48% of total revenue.Digital Operations net revenues were $654 million, up 6.4% year-over-year on an as reported and 6.1% on a constant currency basis,1,4 representing 52% of total revenue.Gross profit was $446 million, up 9% year-over-year, with a corresponding margin of 35.7%.Net income was $142 million, down 51% year-over-year, with a corresponding margin of 11.4%.6Income from operations was $190 million, up 17% year-over-year, with a corresponding margin of 15.2%.Adjusted income from operations was $221 million, up 9% year-over-year, with a corresponding margin of 17.7%.6,7Diluted earnings per share was $0.79, down 50% year-over-year.6Adjusted diluted earnings per share was $0.91, up 11% year-over-year.5,6Cash generated from operations was $203 million, compared to $192 million in the fourth quarter of 2023.Genpact repurchased approximately 2 million of its common shares during the quarter for total consideration of approximately $85 million at an average price per share of $45.41.

Capital Allocation

Genpact’s Board of Directors declared a quarterly cash dividend for the first quarter of 2025 of $0.17 per common share, an 11% increase, payable on March 26, 2025 to shareholders of record as of the close of business on March 11, 2025, and approved a $500 million increase to the Company’s existing share repurchase authorization. The newly approved quarterly dividend represents a planned annual dividend of $0.68 per common share, increased from $0.61 per common share in 2024.

Outlook

Genpact’s outlook for the full year 2025 is as follows:

Net revenues in the range of $5.029 billion to $5.125 billion, representing year-over-year growth of approximately 5.5% to 7.5% as reported, or 6.2% to 8.2% on a constant currency basis.1Data-Tech-AI net revenues growth of approximately 6.2% year-over-year and Digital Operations net revenues growth of approximately 6.8% year-over-year as reported at the midpoint of the range.Data-Tech-AI net revenues growth of approximately 6.4% year-over-year and Digital Operations net revenues growth of approximately 7.9% year-over-year on a constant currency basis1 at the midpoint of the range.Gross margin of approximately 36.0%.Adjusted income from operations margin9 of approximately 17.3%.Adjusted diluted EPS10 in the range of $3.52 to $3.59.

Genpact’s outlook for the first quarter of 2025 is as follows:

Net revenues in the range of $1.202 billion to $1.213 billion, representing year-over-year growth of approximately 6.2% to 7.2% as reported, or 7.1% to 8.1% on a constant currency basis.1Data-Tech-AI net revenues growth of approximately 9.8% year-over-year and Digital Operations net revenues growth of approximately 4.1% year-over-year as reported at the midpoint of the range.Data-Tech-AI net revenues growth of approximately 10.0% year-over-year and Digital Operations net revenues growth of approximately 5.4% year-over-year on a constant currency basis1 at the midpoint of the range.Gross margin of approximately 35.0%.Adjusted income from operations margin9 of approximately 16.5%.Adjusted diluted EPS10 in the range of $0.79 to $0.80.

Our outlook for the first quarter and full year 2025 reflects foreign currency exchange rates as of January 30, 2025.

1 Revenue growth on a constant currency basis is a non-GAAP measure and is calculated by restating current-period activity using the prior fiscal period’s foreign currency exchange rates adjusted for hedging gains/losses in such period.

2 Net revenues and Data-Tech-AI net revenues for the full year 2023 include $0.5 million of revenue associated with a business classified as held for sale.

3 Both on an as reported and constant currency basis.

4 Genpact updated the classification of certain revenues from Digital Operations to Data-Tech-AI in the quarter ended March 31, 2024 to more accurately reflect the nature of, and mode of delivery for, the services provided, which have evolved over time. As a result, the revenue from Digital Operations and Data-Tech-AI for the full year 2023 originally reported was $2.48 billion and $1.99 billion, respectively, which is $2.39 billion and $2.09 billion, respectively, in accordance with the updated classification. The numbers presented in this release for Data-Tech-AI net revenues and Digital Operations net revenues may not add up precisely to the total net revenues provided due to rounding.

5 Adjusted diluted earnings per share is a non-GAAP measure. A reconciliation of GAAP diluted earnings per share to adjusted diluted earnings per share is attached to this release.

6 During the quarter and full year ended December 31, 2023, Genpact completed an intercompany transfer of certain intellectual property rights from non-US to US wholly-owned subsidiaries, which resulted in a non-recurring tax benefit of $170 million. Net income and diluted earnings per share for the quarter and full year ended December 31, 2023 included this benefit. This benefit was excluded from adjusted diluted earnings per share and adjusted income from operations for the quarter and year ended December 31, 2023.

7 Adjusted income from operations and adjusted income from operations margin are non-GAAP measures. Reconciliations of each of GAAP income from operations and GAAP net income to adjusted income from operations and GAAP income from operations margin and GAAP net income margin to adjusted income from operations margin are attached to this release. Adjusted income from operations margin for the full year 2023 was derived by adjusting total revenue to exclude $0.5 million of revenue associated with a business previously classified as held for sale.

8 New bookings, an operating measure, represents the total contract value of new contracts and certain renewals, extensions and changes to existing contracts. Regular renewals of contracts with no change in scope are not counted as new bookings. Prior to 2024, new bookings of contracts with longer than five-year terms were limited to the total contract value of the initial five-year term. In 2024, Genpact updated its definition of new bookings to eliminate the five-year limitation. New bookings as reported for the full year 2023 were $4.9 billion and would have been $5.0 billion in accordance with the new definition. New bookings for the full year 2024 as reported are $5.7 billion and would have been $5.4 billion in accordance with the prior definition.

9 Adjusted income from operations margin is a non-GAAP measure. A reconciliation of the outlook for each of GAAP income from operations margin and GAAP net income margin to adjusted income from operations margin is attached to this release.

10 Adjusted diluted earnings per share is a non-GAAP measure. A reconciliation of the outlook for GAAP diluted earnings per share to adjusted diluted earnings per share is attached to this release.

Conference Call to Discuss Financial Results

Genpact’s management will host a conference call on February 6, 2025, at 5:00 PM ET to discuss the company’s performance for the fourth quarter and full year ended December 31, 2024. Participants are encouraged to register here to receive a dial-in number and unique PIN for seamless access. It is recommended to join 10 minutes before the call starts, although registration and dial-in will be available at any time. A live webcast will be available on the Genpact Investor Relations website. For those unable to attend the live call, an archived replay and transcript will be available on the website shortly after the call.

About Genpact
Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Safe Harbor
This press release contains certain statements concerning our future growth prospects, including our outlook for 2025, financial results and other forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those in such forward-looking statements. These risks, uncertainties, and other factors include but are not limited to general economic conditions, any deterioration in the global economic environment and its impact on our clients, our ability to develop and successfully execute our business strategies, technological innovation, including AI technology and future uses of agentic AI, generative AI and large language models, and our ability to invest in new technologies and adapt to industry developments at sufficient speed and scale, our ability to effectively price our services and maintain pricing and employee utilization rates, general inflationary pressures and our ability to share increased costs with our clients, wage increases in locations in which we have operations, our ability to attract and retain skilled professionals, our ability to protect our and our clients’ data from security incidents or cyberattacks, the economic and other impacts of geopolitical conflicts and any related sanctions and other measures that have been or may be implemented or imposed in response thereto, as well as any potential expansion or escalation of existing conflicts or economic disruption beyond their current scope, a slowdown in the economies and sectors in which our clients operate, a slowdown in the sectors in which we operate, the risks and uncertainties arising from our past and future acquisitions, our ability to convert bookings to revenues, our ability to manage growth, factors which may impact our cost advantage, changes in tax rates and tax legislation and other laws and regulations, our ability to effectively execute our tax planning strategies, risks and uncertainties regarding fluctuations in our earnings, foreign currency fluctuations, political, economic or business conditions in countries in which we operate, as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission, including Genpact’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These filings are available at www.sec.gov. Genpact may from time to time make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. Although Genpact believes that these forward-looking statements are based on reasonable assumptions, you are cautioned not to put undue reliance on these forward-looking statements, which reflect management’s current analysis of future events and should not be relied upon as representing management’s expectations or beliefs as of any date subsequent to the time they are made. Genpact undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of Genpact.

Contacts

Investors

Tyra Whelton

+1 (908) 418-2995

tyra.whelton@genpact.com

Media

Alexia Taxiarchos

+1 (617) 259-8172

alexia.taxiarchos@genpact.com

GENPACT LIMITED AND ITS SUBSIDIARIES

Consolidated Balance Sheets

(Unaudited)

(In thousands, except per share data and share count)

As of December 31, 2023

As of December 31, 2024

Assets

Current assets

Cash and cash equivalents

$ 583,670

$ 648,246

Short-term investments

—

23,359

Accounts receivable, net of allowance for credit losses of $18,278
and $12,094 as of December 31, 2023 and 2024, respectively

1,116,273

1,198,606

Prepaid expenses and other current assets

191,566

209,893

Total current assets

$ 1,891,509

$ 2,080,104

Property, plant and equipment, net

189,803

207,943

Operating lease right-of-use assets

186,167

182,190

Deferred tax assets

298,921

269,476

Intangible assets, net

53,028

26,950

Goodwill

1,683,782

1,669,769

Contract cost assets

202,543

200,900

Other assets, net of allowance for credit losses of $4,096 and $7,320 as
of December 31, 2023 and December 31, 2024, respectively

299,960

349,821

Total assets

$ 4,805,713

$ 4,987,153

Liabilities and equity

Current liabilities

Short-term borrowings

$ 10,000

$ —

Current portion of long-term debt

432,242

26,173

Accounts payable

27,739

36,469

Income taxes payable

38,458

35,431

Accrued expenses and other current liabilities

759,180

812,994

Operating leases liability

50,313

52,672

Total current liabilities

$ 1,317,932

$ 963,739

Long-term debt, less current portion

824,720

1,195,267

Operating leases liability

168,015

153,587

Deferred tax liabilities

11,706

15,908

Other liabilities

234,948

269,041

Total liabilities

$ 2,557,321

$ 2,597,542

Shareholders’ equity

Preferred shares, $0.01 par value, 250,000,000 authorized, none issued

—

Common shares, $0.01 par value, 500,000,000 authorized, 179,494,132
and 174,661,953, issued and outstanding as of December 31, 2023 and
2024, respectively

1,789

1,740

Additional paid-in capital

1,883,944

1,945,261

Retained earnings

1,085,209

1,236,696

Accumulated other comprehensive income (loss)

(722,550)

(794,086)

Total equity

$ 2,248,392

$ 2,389,611

Total liabilities and equity

$ 4,805,713

$ 4,987,153

GENPACT LIMITED AND ITS SUBSIDIARIES

Consolidated Statements of Income

(Unaudited)

(In thousands, except per share data and share count)

Three months ended December 31,

2022

2023

2024

Net revenues

$ 1,102,545

$ 1,146,253

$ 1,248,741

Cost of revenue

717,337

738,699

802,969

Gross profit

$ 385,208

$ 407,554

$ 445,772

Operating expenses:

Selling, general and administrative expenses

236,557

237,419

249,157

Amortization of acquired intangible assets

9,862

7,454

6,496

Other operating (income) expense, net

11,038

(51)

(55)

Income from operations

$ 127,751

$ 162,732

$ 190,174

Foreign exchange gains (losses), net

6,080

576

(1,487)

Interest income (expense), net

(15,513)

(12,915)

(11,047)

Other income (expense), net

4,799

8,081

4,908

Income before income tax expense

$ 123,117

$ 158,474

$ 182,548

Income tax expense/(benefit)

33,405

(132,835)

40,633

Net income

$ 89,712

$ 291,309

$ 141,915

Earnings per common share

Basic

$ 0.49

$ 1.61

$ 0.81

Diluted

$ 0.48

$ 1.59

$ 0.79

Weighted average number of common shares used in computing
earnings per common share

Basic

183,371,581

180,956,638

175,880,251

Diluted

187,525,698

183,354,187

179,183,557

GENPACT LIMITED AND ITS SUBSIDIARIES

Consolidated Statements of Income

(Unaudited)

(In thousands, except per share data and share count)

Year ended December 31,

2022

2023

2024

Net revenues

$ 4,371,172

$ 4,476,888

$ 4,767,139

Cost of revenue

2,834,774

2,906,223

3,077,073

Gross profit

$ 1,536,398

$ 1,570,665

$ 1,690,066

Operating expenses:

Selling, general and administrative expenses

938,385

913,061

967,145

Amortization of acquired intangible assets

42,667

31,463

26,476

Other operating (income) expense, net

53,195

(4,716)

(5,616)

Income from operations

$ 502,151

$ 630,857

$ 702,061

Foreign exchange gains (losses), net

15,392

4,274

2,937

Interest income (expense), net

(52,204)

(47,935)

(47,214)

Other income (expense), net

(103)

15,028

19,036

Income before income tax expense

$ 465,236

$ 602,224

$ 676,820

Income tax expense/(benefit)

111,832

(29,031)

163,150

Net income

$ 353,404

$ 631,255

$ 513,670

Earnings per common share

Basic

$ 1.92

$ 3.46

$ 2.88

Diluted

$ 1.88

$ 3.41

$ 2.85

Weighted average number of common shares used in computing
earnings per common share

Basic

184,184,930

182,345,548

178,385,972

Diluted

188,087,240

185,141,843

180,436,900

GENPACT LIMITED AND ITS SUBSIDIARIES

Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

Year ended December 31,

2022

2023

2024

Operating activities

Net income

$ 353,404

$ 631,255

$ 513,670

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

86,849

72,530

69,778

Amortization of debt issuance costs (including loss on extinguishment of debt)

2,376

1,967

2,412

Amortization of acquired intangible assets

42,667

31,463

26,476

Write-down of intangible assets and property, plant and equipment

1,377

—

Impairment charge on assets classified as held for sale

32,575

—

Loss on sale of business classified as held for sale

—

802

—

Write-down of operating lease right-of-use assets and other assets

20,307

—

Allowance for credit losses

1,583

3,979

13,806

Unrealized loss/(gain) on revaluation of foreign currency asset/liability

525

(1,061)

(11,354)

Stock-based compensation expense

77,373

88,576

66,383

Deferred tax expense (benefit)

(29,151)

(157,932)

36,610

Others, net

863

1,477

(2,179)

Change in operating assets and liabilities:

(Increase) in accounts receivable

(112,341)

(130,791)

(96,555)

(Increase) decrease in prepaid expenses, other current assets, contract cost assets,
operating lease right-of-use assets and other assets

3,822

(39,075)

(73,512)

Increase (decrease) in accounts payable

14,185

(8,215)

8,733

Increase (decrease) in accrued expenses, other current liabilities, operating lease
liabilities and other liability

(54,329)

1,862

63,340

Increase (decrease) in income taxes payable

1,585

(6,025)

(2,184)

Net cash provided by operating activities

$ 443,670

$ 490,812

$ 615,424

Investing activities

Purchase of property, plant and equipment

(50,614)

(55,421)

(82,766)

Payment for internally generated intangible assets (including intangibles under development)

(3,775)

(3,356)

(2,469)

Purchase of short term investments

—

(23,359)

Proceeds from sale of property, plant and equipment and intangible assets

2,635

Payment for business acquisitions, net of cash acquired

(33)

(682)

—

Proceeds from / (payment) for divestiture of business

17,769

(19,510)

—

Net cash used for investing activities

$ (36,593)

$ (78,944)

$ (105,959)

Financing activities

Repayment of finance lease obligations

(12,810)

(12,165)

(11,358)

Payment of debt issuance costs

(3,045)

—

(4,165)

Proceeds from long-term debt

239,130

—

400,000

Repayment of long-term debt

(620,130)

(19,875)

(433,125)

Proceeds from short-term borrowings

261,000

148,000

50,000

Repayment of short-term borrowings

(110,000)

(289,000)

(60,000)

Proceeds from issuance of common shares under stock-based compensation plans

27,751

39,485

17,215

Payment for net settlement of stock-based awards

(44,942)

(21,529)

(22,278)

Payment of earn-out consideration

(2,437)

(2,399)

—

Dividend paid

(91,837)

(100,014)

(108,466)

Payment for stock repurchased and retired (including expenses related to stock repurchased)

(214,082)

(225,499)

(252,671)

Net cash used for financing activities

$ (571,402)

$ (482,996)

$ (424,848)

Effect of exchange rate changes

(88,368)

8,033

(20,041)

Net increase (decrease) in cash and cash equivalents

(164,325)

(71,128)

84,617

Cash and cash equivalents at the beginning of the period

899,458

646,765

583,670

Cash and cash equivalents at the end of the period

$ 646,765

$ 583,670

$ 648,246

Supplementary information

Cash paid during the period for interest (including interest rate swaps)

$ 51,147

$ 47,989

$ 68,913

Cash paid during the period for income taxes, net of refunds

$ 145,979

$ 156,733

$ 113,629

Property, plant and equipment acquired under finance lease obligations

$ 7,078

$ 2,459

$ 11,483

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, this press release includes the following non-GAAP financial measures:

Adjusted income from operations; Adjusted income from operations margin;Adjusted diluted earnings per share; and Revenue growth on a constant currency basis.

These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, these non-GAAP financial measures, the financial statements prepared in accordance with GAAP and the reconciliations of Genpact’s GAAP financial statements to such non-GAAP financial measures should be carefully evaluated.

Given Genpact’s acquisitions of varying scale and size, and the difficulty in predicting expenses relating to acquisitions and the amortization of acquired intangibles thereof, since July 2012 Genpact’s management has used financial statements that exclude all acquisition-related expenses and amortization of acquired intangibles for its internal management reporting, budgeting and decision-making purposes, including comparing Genpact’s operating results to those of its competitors. For the same reasons, since April 2016, Genpact’s management has excluded the impairment of acquired intangible assets from the financial statements it uses for internal management purposes. Acquisition-related expenses are excluded in the period in which an acquisition is consummated. Genpact’s management also uses financial statements that exclude stock-based compensation expense. Because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use when adopting ASC 718 “Compensation-Stock Compensation,” Genpact’s management believes that providing non-GAAP financial measures that exclude such expenses allows investors to make additional comparisons between Genpact’s operating results and those of other companies.

During the second quarter of 2022, Genpact approved a plan to divest a business that was no longer deemed strategic. Given the specialized nature of this business, we anticipated completing a transaction within twelve months after the end of the second quarter of 2022, and therefore, we classified the revenues and expenses related to this business as held for sale with effect from April 1, 2022. During the first quarter of 2023, the Company consummated this transaction and recorded a loss on the sale of the business. During the second quarter of 2023, the Company terminated a lease for office property which was fully impaired as part of a restructuring in the second quarter of 2022 and recorded a gain on such lease termination as restructuring income in the second quarter of 2023. During the fourth quarter of 2023, Genpact completed an intercompany transfer of certain intellectual property rights from non-US to US wholly-owned subsidiaries, which resulted in a non-recurring tax benefit of $170 million. Genpact’s management believes that excluding the loss on the sale of the business previously classified as held for sale, the revenues and expenses associated with such business, the gain on the lease termination and the non-recurring tax benefit on the transfer of intellectual property rights in calculating its non-GAAP financial measures provides useful information to both management and investors regarding the Company’s financial performance and underlying business trends. Additionally, in its calculations of non-GAAP financial measures, Genpact’s management has adjusted foreign exchange gains and losses, interest income and expense and income tax expenses from GAAP net income, and other income and expenses, and certain gains from GAAP income from operations, because management believes that the Company’s results after taking into account these adjustments more accurately reflect the Company’s ongoing operations. In its calculations of adjusted diluted earnings per share, Genpact’s management adds back stock-based compensation expense, amortization and impairment of acquired intangible assets, and acquisition-related expenses along with the related tax impact of other adjustments and excludes the non-recurring tax benefit on the transfer of intellectual property rights from GAAP diluted earnings per share. For the purpose of calculating adjusted diluted earnings per share, the combined current and deferred tax effect is determined by multiplying each pre-tax adjustment by the applicable statutory income tax rate.

Genpact’s management provides information about revenues on a constant currency basis so that the revenues may be viewed without the impact of foreign currency exchange rate fluctuations compared to prior fiscal periods, thereby facilitating period-to-period comparisons of the Company’s true business performance. Revenue growth on a constant currency basis is calculated by restating current-period activity using the prior fiscal period’s foreign currency exchange rates adjusted for hedging gains/losses in such period.

Accordingly, Genpact believes that the presentation of adjusted income from operations, adjusted income from operations margin, adjusted diluted earnings per share and revenue growth on a constant currency basis, when read in conjunction with the Company’s reported results, can provide useful supplemental information to investors and management regarding financial and business trends relating to its financial condition and results of operations.

A limitation of using adjusted income from operations and adjusted income from operations margin versus income from operations, income from operations margin, net income and net income margin calculated in accordance with GAAP is that these non-GAAP financial measures exclude certain recurring costs and certain other charges, namely stock-based compensation expense and amortization and impairment of acquired intangible assets. Management compensates for this limitation by providing specific information on the GAAP amounts excluded from adjusted income from operations and adjusted income from operations margin.

The following tables show the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures for the three months and years ended December 31, 2023 and 2024:

Reconciliation of Net Income/Margin to Adjusted Income from Operations/Margin

(In thousands)

Three months ended
December 31,

Year ended
December 31,

2023

2024

2023

2024

Net income

$ 291,309

$ 141,915

$ 631,255

$ 513,670

Foreign exchange (gains) losses, net

(576)

1,487

(4,274)

(2,937)

Interest (income) expense, net

12,915

11,047

47,935

47,214

Income tax expense /(benefit)

(132,835)

40,633

(29,031)

163,150

Stock-based compensation expense

24,726

19,107

88,576

66,383

Amortization and impairment of acquired intangible assets

7,453

6,493

31,348

26,456

Restructuring (income) expense

—

(4,874)

—

Operating loss from the business classified as held for sale

—

1,201

—

Loss on the sale of business classified as held for sale

—

802

—

Adjusted income from operations

$ 202,992

$ 220,682

$ 762,938

$ 813,936

Net income margin

25.4 %

11.4 %

14.1 %

10.8 %

Adjusted income from operations margin

17.7 %

17.0 %

17.1 %

Reconciliation of Income from Operations/Margin to Adjusted Income from Operations/Margin

(In thousands)

Three months ended
December 31,

Year ended
December 31,

2023

2024

2023

2024

Income from operations

$ 162,732

$ 190,174

$ 630,857

$ 702,061

Stock-based compensation expense

24,726

19,107

88,576

66,383

Amortization and impairment of acquired intangible assets

7,453

6,493

31,348

26,456

Other income (expense), net

8,081

4,908

15,028

19,036

Restructuring (income) expense

—

(4,874)

—

Operating loss from the business classified as held for sale

—

1,201

—

Loss on the sale of business classified as held for sale

—

802

—

Adjusted income from operations

$ 202,992

$ 220,682

$ 762,938

$ 813,936

Income from operations margin

14.2 %

15.2 %

14.1 %

14.7 %

Adjusted income from operations margin

17.7 %

17.0 %

17.1 %

Reconciliation of Diluted EPS to Adjusted Diluted EPS11

(Per share data)

Three months ended
December 31,

Year ended
December 31,

2023

2024

2023

2024

Diluted EPS

$ 1.59

$ 0.79

$ 3.41

$ 2.85

Stock-based compensation expense

0.13

0.11

0.48

0.37

Amortization and impairment of acquired intangible assets

0.04

0.17

0.15

Restructuring (income) expense

—

(0.03)

—

Operating loss from the business classified as held for sale

—

0.01

—

Loss on the sale of business classified as held for sale

—

0.00

—

Tax impact on stock-based compensation expense

(0.01)

(0.02)

(0.10)

(0.05)

Tax impact on amortization and impairment of acquired intangible assets

(0.01)

(0.04)

Tax impact on restructuring (income) expense

—

0.01

—

Tax impact on operating loss from the business classified as held for sale

—

Tax benefit on intercompany transfer of intellectual property rights

(0.93)

—

(0.92)

—

Adjusted diluted EPS

$ 0.82

$ 0.91

$ 2.98

$ 3.28

11 Due to rounding, the numbers presented in this table may not add up precisely to the totals provided.

The following tables show the reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures for the year ending December 31, 2025:

Reconciliation of Outlook for Net Income Margin to Adjusted Income from Operations Margin12

Year ending December 31, 2025

Net income margin

10.7 %

Estimated interest (income) expense, net

1.0 %

Estimated income tax expense

3.5 %

Estimated stock-based compensation expense

1.6 %

Estimated amortization and impairment of acquired intangible assets

0.5 %

Adjusted income from operations margin

17.3 %

Reconciliation of Outlook for Income from Operations Margin to Adjusted Income from

Operations Margin12

Year ending December 31, 2025

Income from operations margin

14.9 %

Estimated stock-based compensation expense

1.6 %

Estimated amortization and impairment of acquired intangible assets

0.5 %

Estimated other income (expense), net

0.3 %

Adjusted income from operations margin

17.3 %

Reconciliation of Outlook for Diluted EPS to Adjusted Diluted EPS12

(Per share data)

Year ending December 31, 2025

Lower

Upper

Diluted EPS

$ 3.04

$ 3.11

Estimated stock-based compensation expense

0.46

Estimated amortization and impairment of acquired intangible assets

0.15

Estimated tax impact on stock-based compensation expense

(0.08)

Estimated tax impact on amortization and impairment of acquired intangible assets

(0.04)

Adjusted diluted EPS

$ 3.52

$ 3.59

12 Due to rounding, the numbers presented in this table may not add up precisely to the totals provided.

The following tables show the reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures for the quarter ending March 31, 2025:

Reconciliation of Outlook for Net Income Margin to Adjusted Income from Operations Margin13

Quarter ending March 31, 2025

Net income margin

10.1 %

Estimated interest (income) expense, net

1.1 %

Estimated income tax expense

3.3 %

Estimated stock-based compensation expense

1.5 %

Estimated amortization and impairment of acquired intangible assets

0.5 %

Adjusted income from operations margin

16.5 %

Reconciliation of Outlook for Income from Operations Margin to Adjusted Income from

Operations Margin13

Quarter ending March 31, 2025

Income from operations margin

14.1 %

Estimated stock-based compensation expense

1.5 %

Estimated amortization and impairment of acquired intangible assets

0.5 %

Estimated other income (expense), net

0.3 %

Adjusted income from operations margin

16.5 %

Reconciliation of Outlook for Diluted EPS to Adjusted Diluted EPS13

(Per share data)

Quarter ending March 31, 2025

Lower

Upper

Diluted EPS

$ 0.68

$ 0.69

Estimated stock-based compensation expense

0.10

Estimated amortization and impairment of acquired intangible assets

0.04

Estimated tax impact on stock-based compensation expense

(0.02)

Estimated tax impact on amortization and impairment of acquired intangible assets

(0.01)

Adjusted diluted EPS

$ 0.79

$ 0.80

13 Due to rounding, the numbers presented in this table may not add up precisely to the totals provided.

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SOURCE Genpact

Technology

2CRSi SA: Annual Revenue of €416.2 Million¹, Up 88% for Fiscal Year 2025/26

Published

58 minutes ago

July 23, 2026

STRASBOURG, France, July 23, 2026 /PRNewswire/ — 2CRSi (ISIN: FR0013341781), a designer and manufacturer of high-performance, energy-efficient servers, today reports its revenue for fiscal year 2025/26. Over the period, the Group generated revenue of €416.2 million[1], an increase of more than 88% compared with fiscal year 2024/25 (€220.7 million).

Another Record-Breaking Year

This performance reflects the Group’s strong commercial momentum as well as the success of the strategic transformation launched nearly two years ago to position 2CRSi in the Artificial Intelligence infrastructure market.

Initially set at €300 million at the beginning of the fiscal year[2], then raised to more than €400 million in March 2026[3], the revenue target has now been exceeded, demonstrating the Group’s ability to anticipate market developments and successfully execute its commercial growth strategy in the rapidly expanding global Artificial Intelligence market. As a reminder, the €610 million framework agreement referred to in our detailed response[4] of July 16, 2026 generated no revenue during fiscal year 2025/26: the year’s growth was entirely driven by other orders that were delivered and invoiced.

Increasing Diversification of the Customer Portfolio

The portfolio of the Group’s main customers invoiced during the fiscal year consists predominantly of new customers signed during the period, demonstrating the Group’s ability to win new strategic accounts and rapidly convert its commercial pipeline into revenue.

2CRSi’s largest customer accounted for less than 20% of consolidated revenue, while the Group’s top five customers represented approximately 70%, compared with more than 90% in fiscal year 2024/25.

While equipment sales represented approximately 94% of total revenue, service revenue increased significantly in value to reach €24.7 million (compared with €8.3 million in 2024/25, representing growth of nearly 200%). As services generate higher margins, they will constitute a key development driver over the coming fiscal years. In particular, 2CRSi Cloud Solutions recorded its first significant billings, notably in connection with the ÆTHER project.

Positive Cash Flow and Strengthened Financial Position

At the end of the fiscal year, the Group’s cash position stood at €14.4 million1 (compared with -€0.2 million one year earlier), its highest year-end cash balance since its IPO in 2018. This strengthened financial position provides 2CRSi with the resources to support its continued growth trajectory.

Group Year-End Cash Position by Fiscal Year (in € thousands)

2026/27 Ambition: Targeting €1 Billion in Revenue

During the RAISE Summit, the global Artificial Intelligence summit held in Paris on July 8–9, 2026, bringing together more than 9,000 leading industry participants, the announcement[5] of the ÆTHER consortium members and the advanced negotiations for the upcoming acquisition by ÆTHER Infrastructures of two industrial sites in the Strasbourg region significantly boosted customer demand for the megawatts of computing capacity that will be deployed there. Like the other consortium members, 2CRSi expects to benefit from this momentum and anticipates an increase in order intake, with part of these orders expected to be delivered during the current fiscal year.

In light of this commercial momentum, 2CRSi confirms its ambition to achieve €1 billion in revenue during fiscal year 2026/27.

Beyond sustaining its growth trajectory, improving margins will also remain a key priority for the Group through increasing the contribution of services and higher value-added solutions to its overall business.

Next event: Publication of Fiscal Year 2025/26 Annual Results: October 29, 2026

About 2CRSi

Founded in 2005 in Strasbourg, France, 2CRSi designs, develops, and manufactures high-performance computing servers and innovative solutions for artificial intelligence, high-performance computing (HPC), and data storage. Committed to responsible and sustainable practices, the Group operates across multiple continents and provides highly energy-efficient technology solutions to industries including technology, manufacturing, gaming, scientific research, and data centers. 2CRSi has been listed since June 2018 on the regulated market of Euronext Paris (ISIN code: FR0013341781) and was transferred to Euronext Growth in November 2022.

For more information: https://2crsi.com/

Media Contacts

2CRSi

Jean-Philippe LLOBERA

France Director
investors@2crsi.com

03 68 41 10 70

Seitosei.Actifin

Foucauld Charavay

Financial Communication
Foucauld.charavay@seitosei-actifin.com

06 37 83 33 19

Seitosei.Actifin

Isabelle Dray

Financial Press Relations
isabelle.dray@seitosei-actifin.com

06 85 36 85 11

References:

[1] Unaudited Data
[2] https://investors.2crsi.com/wp-content/uploads/2024/01/2CRSI-announces-its-strategic-plan-with-a-strong-development-focus-in-the-US.pdf
[3] https://investors.2crsi.com/wp-content/uploads/2026/03/2CRSi-announces-an-increase-in-its-half-year-result-by-4.6.pdf
[4] https://investors.2crsi.com/wp-content/uploads/2026/07/2CRSis-detailed-response-to-the-allegations-in-the-Grizzly-Research-report.pdf
[5] https://investors.2crsi.com/wp-content/uploads/2026/07/2CRSi-the-AETHER-Consortium-Reveals-Itself.pdf

Regulatory filing PDF file

File: 2CRSi Announces 2026 Revenue of €416.2 Million an 88% Increase

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SOURCE 2CRSi SA

Technology

Nearly Half of Senior Leaders Feel Only Partly Prepared to Lead AI Transformation, as Ambition Outpaces Readiness

Published

59 minutes ago

July 23, 2026

Almost half of senior leaders (46%) say they are prepared only to a small extent to lead organisation-wide transformation driven by AI, while 2% report being not prepared at all. Keeping pace with rapidly evolving AI technology is cited as the most significant challenge (40%) faced by senior leaders, followed by regulatory and compliance uncertainty (37%) and insufficient budget or resources for AI adoption (36%).Only about a third of senior leaders (34%) have attended formal training or upskilling related to leadership in the AI era within the past two years. Over half (53%) are planning to do so in the coming months and years, with 13% reporting no plans to undertake such training.The most common shift in leadership approach is an increased focus on people management during AI-driven change, cited by 37% of leaders, particularly in supporting morale and employee well-being. This is followed by greater time spent on upskilling themselves and their teams (31%), and on strategic decision-making (30%).

SINGAPORE, July 23, 2026 /PRNewswire/ — Artificial Intelligence (AI) is reshaping how organisations operate and compete. However, the leaders responsible for steering this transformation report a gap between what is expected of them and their preparedness to deliver. Almost half of senior leaders (46%) say they are prepared only to a small extent to lead organisation-wide transformation driven by AI, while a further 2% report being not prepared at all. In comparison, 37% are prepared to a moderate extent, and only 15% consider themselves prepared to a large extent.

Senior leaders identify several factors contributing to this readiness gap. Keeping pace with rapidly evolving AI technology is cited as the top challenge (40%), followed by regulatory and compliance uncertainty (37%). Resource constraints are also a key pressure point, with 36% pointing to insufficient budget or resources for AI adoption. In addition, 34% highlight challenges related to data quality and governance, while another 34% cite the need to upskill or reskill employees to work effectively alongside AI.

These are some of the key findings from NTUC LearningHub’s Special Report on Leadership in an AI-Driven World. The report surveyed 131 senior leaders from organisations of different sizes and across industries, including Infocomm Technology, Finance, Advanced Manufacturing, Healthcare and others. All respondents reported some level of experience with AI and are involved, to varying degrees, in AI adoption decisions within their organisation.

This readiness gap extends into decision-making. Senior leaders generally express moderate levels of confidence in making high-stakes AI-related decisions. Over two in five (43%) report being quite confident, while 13% say they are very confident. However, 40% indicate they are not very confident and 4% not confident at all.

Despite that, only about a third of senior leaders (34%) have attended formal training or upskilling on leading in an AI-driven workplace within the past two years. Among those who have not yet done so, many indicate plans to pursue training, including 22% within the next six months, 20% within the next year, and 11% within the next two years. Only 13% report having no plans to undertake such training. Among the training areas leaders prioritise, AI literacy and strategic understanding (57%) emerge as the key priority, followed by data-driven decision-making (46%), and ethical AI governance and responsible deployment (40%).

Alongside this, the most common shift in leadership approach is an increased focus on people management during AI-driven change, cited by 37% of leaders, particularly in supporting morale and employee well-being. This is followed by greater time spent on upskilling themselves and their teams (31%) and on strategic decision-making (30%). Ethical and governance considerations also feature strongly at 27%, alongside a similar share who report dedicating more effort to change management (27%), including communicating how AI may affect roles and ways of working.

These shifts reflect a broader recognition among leaders that navigating AI transformation requires more than technical fluency alone. Two in five (40%) senior leaders regard human-centric skills as very important in leading an organisation in the AI era, while nearly half (48%) consider them to be quite important. Among the capabilities leaders consider most critical, creative thinking and critical thinking each emerge at 47%, closely followed by sense-making (46%), problem-solving (44%) and effective communication (43%).

Commenting on the report’s findings, Mr Sean Lim, Chief Human Resource Officer, NTUC LearningHub, says, “The gap between expectation and readiness reflects a fundamental shift in what is required of leadership in today’s AI era. Leaders were once expected to hold all the answers and direct from the top. However, they must now act as strategic navigators, making sense of complexity and providing guidance through this period of rapid change and uncertainty. This means a shift towards coaching and empowering people, while also aligning competing priorities across technology, business and operational needs. It is a demanding shift, but it is encouraging to know that many senior leaders are already planning to further their own development to lead their teams through this period of AI transformation.”

To download the Special Report on Leadership in an AI-Driven World, please visit https://www.ntuclearninghub.com/media/research-reports/2026/Leadership-AI-World. To find out more about the courses, training, and grants, please contact NTUC LearningHub at www.ntuclearninghub.com.

### END ###

About NTUC LearningHub

NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Infocomm Technology, Generative AI & Cloud, Healthcare, Retail & Food Services, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources & Coaching and Foreign Workers Training.

To date, NTUC LearningHub has helped over 34,000 organisations and achieved more than 3.2 million training places across more than 1,000 courses with a pool of about 1,000 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships to offer a wide range of relevant end-to-end training. Besides in-person training, we also offer instructor-led virtual live classes (VLCs) and asynchronous online learning. The NTUC LearningHub Learning eXperience Platform (LXP)—a one-stop online learning platform—offers timely, bite-sized and quality content for learners to upskill anytime and anywhere. Beyond learning, LXP also serves as a platform for jobs and skills development for both workers and companies.

For more information, visit www.ntuclearninghub.com.

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SOURCE NTUC LearningHub Pte Ltd

Technology

THE LEGO GROUP INTRODUCES THE LEGO® SMART PLAY™ GATEWAY AT SAN DIEGO COMIC-CON 2026

Published

59 minutes ago

July 23, 2026

Booth #2829 invites attendees to step inside the worlds of two iconic franchises through the groundbreaking LEGO SMART Play experienceAttendees will be able to experience two beloved franchises like never before, as LEGO SMART Play adds a new dimension of interactive playOther exciting ways to experience the LEGO brand on-site July 23-26 include multiple new product reveals making global debuts, in-booth programming and a scavenger hunt for brand prizes

SAN DIEGO, July 23, 2026 /PRNewswire/ — The LEGO Group is unveiling the LEGO® SMART Play™ Gateway at San Diego Comic-Con 2026 — a booth experience powered by LEGO SMART Play technology that puts attendees right at the center of their fandoms and brings LEGO sets to life with a newfound layer of interactivity. At the LEGO SMART Play Gateway, fans will step inside the heart of two of pop culture’s most beloved franchises.

The LEGO Group will also further debut several new LEGO sets spanning numerous fandoms at San Diego Comic-Con 2026 — continuing to offer a LEGO set for every age and interest!

Enter a New Dimension of Play at the LEGO SMART Play Gateway

Launched this year, LEGO SMART Play provides open-ended physical play through responsive technology that reacts in real time. The LEGO SMART Play platform is powered by the SMART Brick, a 2×4 LEGO brick compatible with the LEGO System in Play that holds more than 20 patented world-first technologies. The SMART Brick can read SMART Tags and SMART Minifigures, synthesize light and sounds and sense precise motion, allowing kids to build, interact and create their own stories as their creations play back.

Attendees at San Diego Comic-Con 2026 are invited to step through the doors of the LEGO SMART Play Gateway, a retro-futuristic interworld departure terminal. Blending mid-century modern design with the technological optimism of LEGO SMART Play, the space transports fans from the show floor through SMART Play™-powered portals and into one of two fully immersive destinations:

Destination: LEGO Pokémon™ Lab

Destination: LEGO Pokémon™ Lab invites fans into the starting point of every Pokémon Trainer’s journey, a Lab recreated with scaled-up LEGO bricks and populated by life-sized LEGO Pokémon™ builds powered by LEGO SMART Play.Guests can choose their first partner Pokémon by selecting a Poké Ball to reveal Bulbasaur, Charmander or Squirtle and interact with their chosen Pokémon via SMART Brick lights and sounds. Portal visitors can further try out a game of “Hide and Pikachu” inspired by the LEGO Pokémon™ SMART Play: Training House with Pikachu set or interact with Eevee as its ears sway and the gems around its glow.Don’t depart without exploring the display case highlighting a full range of LEGO Pokémon™ sets available this year.

Destination: Mos Eisley

Destination: Mos Eisley transports Star Wars™ fans straight to Mos Eisley Cantina, recreated as a series of oversized LEGO brick environments pulled directly from the world of LEGO Star Wars™ SMART Play (specifically, the LEGO Star Wars™ SMART Play: Mos Eisley Cantina™ set!).Interactive touchpoints are woven throughout, doubling as iconic photo opportunities: grab the mic and swing it to trigger a SMART Brick remix of the iconic Cantina Song as the Modal Nodes band plays along; slide into the infamous corner booth for a face-to-face encounter with Greedo; and visit the Dewback Petting Zoo for a photo op with a purring, snoozing Dewback.Eagle-eyed fans can also decode hidden Aurebesh signage to unlock in-universe Easter eggs scattered throughout the space.

“The excitement around LEGO SMART Play began earlier this year and continues to grow with the launch of new sets on August 1. We are thrilled to bring these themes to life at the LEGO SMART Play Gateway during San Diego Comic-Con,” said Beth McKenna, Head of U.S. Marketing at the LEGO Group. “LEGO SMART Play represents the most significant advancement in LEGO® play since the Minifigure. Comic-Con is the ideal venue to showcase the possibilities of LEGO SMART Play, where attendees unite over the stories, characters, and worlds they adore.”

Sets Debuting at San Diego Comic-Con 2026

Brand new sets from across the LEGO brand’s most beloved franchises, not specific to SMART Play, are on display flanking the rear of the gateway; as each display case operates as its own destination, inviting fans and enthusiasts to explore and build upon the worlds they love most.

Boldly Build Where No One Has Built Before with the NEW LEGO Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge

The LEGO Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge (11385), the ultimate tribute to one of the most iconic ships in sci-fi history, is a perfect way to celebrate Star Trek’s 60th anniversary in 2026 – and it reveals at San Diego Comic-Con!

This 1,701-piece set, available at LEGO Stores and LEGO.com exclusively beginning September 1 and available for pre-order now, recreates the iconic bridge and transporter room from the original series in authentic detail with eight LEGO Minifigures representing the Starfleet crew. Turn a dial to beam crew from the transporter room, swish open the turbo lift doors and rock the captain’s chair to simulate warp turbulence and space battles; this is a mission-worthy build for any Trekkie.

Outside of the booth, the U.S.S. Enterprise NCC-1701™ Bridge set will make its first appearance at the Star Trek: The Collector Frontier Panel, accompanied by LEGO set designers Henrik Andersen and Crystal Marie Fontan to explain the process and inspiration that went into recreating the U.S.S. Enterprise. The panel takes place Thursday, July 23, 11:00am to 12:00pm in Room 5AB. For those on the hunt for further LEGO Star Trek sights, be sure to visit the “Star Trek: Boldly Built” activation at the Marriot Marquis on W. Harbor Drive July 23-26, where attendees can take a photo in a LEGO brick-built Captain’s Chair – made out of 83,568 LEGO bricks!

Relive the Classic with the NEW LEGO Donkey Kong™ Arcade

Jump back into a classic age of gaming with the LEGO Donkey Kong Arcade (72051), on display for the first time at San Diego Comic-Con and available in stores August 1. This 1,367-piece collectible set pays homage to the iconic arcade cabinet, complete with Jumpman, Donkey Kong and Lady, plus scaffold, ladder and hammer details straight from the original Nintendo® game.

Pull the lever to release one of the 21 barrels at a time, move Jumpman with the joystick and press the button to make him jump over the barrels — there is even a mechanism to circulate the barrels in a continuous loop to keep the fun rolling! A must-have for adult fans of classic arcade games and retro decor.

Bringing the Swamp to San Diego with NEW LEGO Minifigures Shrek Series

The LEGO Minifigures Shrek Series (71053) brings 12 beloved characters from the franchise to Minifigure form at San Diego Comic-Con, each tucked inside a sealed mystery box for ages six and up. Discover Shrek, Fiona, Donkey, Puss in Boots, Lord Farquaad and more, most with at least one themed accessory like blind mice, a magic mirror or lollipop. Collect them all, play out scenes from the films or put them on display. These are available September 1, but the fairytale will continue in 2027 with more LEGO Shrek!

This summer marks the 25th anniversary of the first Shrek film, which launched a global blockbuster franchise. A new chapter begins next summer, when DreamWorks Animation’s Shrek 5 arrives in cinemas worldwide.

Within and Beyond the Booth

Attendees can explore the LEGO SMART Play™ Gateway from Thursday, July 23 to Sunday, July 26 at booth #2829, where the power of LEGO SMART Play comes to life across every corner of the experience.

Beyond the SMART Play Gateway, fans can attend LEGO-brand panels celebrating major milestones, hunt for exclusive LEGO finds in a scavenger hunt spanning the entire convention floor and take home collectible souvenirs to remember the experience:

LEGO NINJAGO® Celebrates – 15 Years and Counting! NINJAGO voice talent will take the stage to celebrate 15 years of everyone’s favorite minifig ninja team – LEGO NINJAGO! They will talk about their best-loved moments from hundreds of episodes and perform a staged reading of an all-new, exclusive canon scene written by fellow panelists, LEGO NINJAGO: Dragons Rising head writers Kevin Burke & Chris “Doc” Wyatt. Thursday, July 23, 2:15pm-3:15pm in Room 6BCF. In-booth signings July 23, 4:00pm-5:00pm and Friday, July 24 2:30pm-3:30pm. NINJAGO fans will be further pleased to know that the LEGO brand debuted the third installation of its partnership with Crocs™, the NINJAGO collection, at San Diego Comic-Con this morning, The release features Classic Clogs for adults and kids inspired by one of the franchise’s most beloved heroes, Lloyd; fans can further personalize their look with character-inspired Jibbitz™ charm packs.Lost Luggage Scavenger Hunt. Keep your eyes open — LEGO luggage tags are being hidden within the San Diego Convention Center daily, July 23-26. Find one and return it to the LEGO booth to claim a prize package, including exclusive brand artwork commissioned for San Diego Comic-Con 2026.Travel souvenirs to take home from your journey. Visitors can collect limited-edition boarding passes, exclusive LEGO Travel Guides, destination postcards and IP-themed travel stickers in-booth — all designed to commemorate the trip long after the show floor closes.

More Information

All products on display at the show, including LEGO set reveals, can be found at LEGO.com/san-diego-comic-con. For more information on the LEGO Group activities at San Diego Comic-Con, contact press@america.lego.com.

Notes to Editor

Product Information

LEGO® Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge (11385)

Age Grade: 18+MSRP: $199.99Piece Count: 1,701Global Launch Date: September 1, 2027 (available for pre-order now) at LEGO Stores and LEGO.comDescription: Set course for a voyage of creativity with the LEGO® Icons Star Trek: U.S.S. Enterprise NCC-1701™ Bridge building set for adults. Recreate the iconic bridge and transporter room that served as the backdrop for epic scenes aboard the legendary starship. Rock the captain’s chair to simulate ship turbulence and turn a dial to beam crew members. Includes eight iconic Star Trek character Minifigures.

LEGO® Donkey Kong™ Arcade (72051)

Age Grade: 18+MSRP: $199.99Piece Count: 1367Global Launch Date: August 1, 2026 at LEGO Stores and select retailersDescription: Join Jumpman on the construction site again with this LEGO® brick model of the iconic Donkey Kong™ arcade game. Pull the lever for Donkey Kong to ‘throw’ barrels one after the other. Move Jumpman with the joystick and press the button to make him leap over the barrels. This set pays homage to the original Donkey Kong arcade cabinet game and makes a fun, nostalgic addition to your game room.

LEGO® Minifigures Shrek Series (71053)

Age Grade: 6+MSRP: $4.99Piece Count: 7Global Launch Date: September 1, 2026 at LEGO Stores and select retailersDescription: Enjoy movie adventures with LEGO® Minifigures Shrek Series mystery boxes. There are 12 detailed characters to collect, including Shrek, Fiona and Donkey, Puss in Boots, Prince Charming, Big Bad Wolf and Lord Farquaad and most come with at least one accessory. Expand your Minifigure collection or use them to play out your favorite scenes from the DreamWorks Animation’s Shrek films. Open your box and find out who’s inside!

About the LEGO Group

The LEGO Group’s mission is to inspire and develop the builders of tomorrow through the power of play. The LEGO System in Play, with its foundation in LEGO bricks, allows children and fans to build and rebuild anything they can imagine.

The LEGO Group was founded in Billund, Denmark in 1932 by Ole Kirk Kristiansen, its name derived from the two Danish words Leg Godt, which mean “Play Well”.

Today, the LEGO Group remains a family-owned company headquartered in Billund. Its products are now sold in more than 130 countries worldwide. For more information: www.LEGO.com.

About The Pokémon Company International

The Pokémon Company International manages the Pokémon property outside of Asia and is responsible for brand management, licensing, marketing, the Pokémon Trading Card Game, the animated TV series, home entertainment and the official Pokémon website. Pokémon was launched in Japan in 1996 and today is one of the most popular children’s entertainment properties in the world. For more information, please visit www.pokemon.co.uk.

About Paramount Products & Experiences

Paramount Products & Experiences oversees all licensing, merchandising, and location-based experiences for Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company. The division brings to life iconic franchises and beloved characters through innovative products and immersive experiences across categories including toys, apparel, publishing, food and beverage, theme parks, hotels, cruises, attractions, and live entertainment. Its global portfolio is powered by content from brands such as Nickelodeon, Paramount Pictures, CBS, MTV, Comedy Central, and Paramount+, and fan-favorite franchises like PAW Patrol, SpongeBob SquarePants, Teenage Mutant Ninja Turtles, Star Trek, and Yellowstone. To explore our range of consumer products and Paramount-branded merchandise, visit ParamountShop.com.

About DreamWorks Animation’s Shrek Franchise

For the past two decades, children of all ages have been enchanted by DreamWorks Animation’s delightful, irreverent adventures of a misunderstood ogre and his ragtag group of roguish fairytale folk. Beginning with Shrek, the 2001 Academy Award® winner for Best Animated Feature, Shrek (Mike Myers), Fiona (Cameron Diaz), Donkey (Oscar® nominee Eddie Murphy), Puss in Boots (Oscar® nominee Antonio Banderas) and their signature friends, family and tormentors have grown into an indelible part of pop culture, reminding audiences around the globe that beauty is in the eye of the beholder.

The four Shrek franchise films have earned more than $2.9 billion worldwide, spawning a global live-touring show, an award-winning Broadway musical that earned eight Tony nominations and 12 Drama Desk nominations, plus an immersive, top-tourist destination in London and popular events and attractions across Universal Studios theme parks worldwide.

From an astonishing consumer products campaign to imaginative digital extensions and a global animation exhibition tour, the iconic age of Shrek now enters a thrilling new era in 2027, as DreamWorks Animation reimagines this wonderous tale for a new generation with Shrek 5. Stars Mike Myers, Cameron Diaz and Eddie Murphy return, now joined by Emmy winning superstar Zendaya (Dune franchise, Euphoria) as Shrek and Fiona’s daughter.

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SOURCE The LEGO Group