Technology

DXC Technology Reports Second Quarter Fiscal Year 2027 Results

Published

5 hours ago

October 29, 2026

Total revenue for Q2 FY27 of $3.03 billion, down 4.0% YoY, down 4.0% on an organic basis(1)Q2 FY27 EBIT margin of 2.2%, and adjusted EBIT(2) margin of 6.2%Q2 FY27 Diluted earnings per share of $0.15; Non-GAAP diluted earnings per share(3) of $0.67, down 20.2% YoYFree cash flow(4) for the first half of FY27 was $405 million, compared to $337 million last yearQ2 FY27 Bookings of $2.4 billion, trailing twelve month book to bill ratio of 1.0xRepurchased $60 million of shares

ASHBURN, Va., Oct. 29, 2026 /PRNewswire/ — DXC Technology (NYSE: DXC) today reported results for the second quarter fiscal 2027.

“On the quarter, we delivered revenue, adjusted EBIT, and Non-GAAP diluted EPS above our expectations, while making progress with the agentic and AI-based solutions that we expect will contribute to future growth. The revenue ramp for agentic solutions is more clear in terms of average deal size, close cycle timing, and pace of follow-on work,” said Raul Fernandez, CEO of DXC Technology. “While our core revenue recovery will take time, I am confident that our role operating mission-critical systems gives DXC a differentiated position as enterprises look to deploy AI at scale.”

Financial Highlights – Second Quarter Fiscal Year 2027

Total revenue was $3.03 billion, down 4.0% year-over-year (down 4.0% on an organic basis).(1)EBIT was $66 million, down 52.2% year-over-year with a corresponding margin of 2.2%. Adjusted EBIT(2) was $187 million, down 26.4% year-over-year, with a corresponding margin(2) of 6.2%.Diluted earnings per share was $0.15. Non-GAAP diluted earnings per share(3) was $0.67, down 20.2% year-over-year.Cash generated from operations was $217 million, down 46.9% year-over-year. Free cash flow(4) was $91 million, compared to $240 million in the second quarter of fiscal year 2026. Free cash flow(4) for the first half of FY27 was $405 million, compared to $337 million last year.Bookings of $2.4 billion declined 10% year-over-year, with a book to bill ratio of 0.80x.Returned $60 million of capital to shareholders by repurchasing approximately 5.7 million shares.DXC acknowledges ongoing discussions regarding a possible sale of its insurance business.

(1)

Revenue growth on an organic 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 the impact of acquisitions and divestitures. A reconciliation of GAAP to non-GAAP measure are attached to this release.

(2)

Adjusted EBIT and Adjusted EBIT margin are non-GAAP measures. Reconciliations of GAAP Net Income to such measures are attached to this release.

(3)

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

(4)

Free cash flow is a non-GAAP measure, calculated by subtracting capital expenditures (Purchase of Property, Plant & Equipment, Transition and Transformation Contract Costs and Software Purchased or Developed) from cash flow from operations.

Segment Highlights – Second Quarter Fiscal Year 2027

Consulting and Engineering Services (“CES”)

Revenue was $1,213 million, down 3.3% year-over-year (down 3.3% on an organic basis).(1)Segment profit was $125 million, down 13.8% year-over-year, with a corresponding margin of 10.3%.Bookings declined 17.0% year-over-year, with a book to bill ratio of 0.79x.

Global Infrastructure Services (“GIS”)

Revenue was $1,427 million, down 10.0% year-over-year (down 10.0% on an organic basis).(1)Segment profit was $66 million, down 45.9% year-over-year, with a corresponding margin of 4.6%.Bookings declined 12.7% year-over-year, with a book to bill ratio of 0.80x.

Insurance Software & Services (“Insurance”)

Revenue was $394 million, up 23.1% year-over-year (up 23.1% on an organic basis).(1) Organic revenue growth includes a favorable contract modification entered into during the second quarter of fiscal 2027.Segment profit was $45 million, up 60.7% year-over-year, with a corresponding margin of 11.4%.Bookings increased 43.5% year-over-year, with a book to bill ratio of 0.79x.

Full Fiscal Year 2027 and Third Quarter Fiscal Year 2027 Guidance

Full Fiscal Year 2027

Total revenue in the range of $11.91 billion and $11.98 billion, a decline of 5.5% to 5.0% year-over-year on an organic basis.(1)Adjusted EBIT margin(2) in the range of 5.75% to 6.25%.Non-GAAP diluted EPS(3) in the range of $2.25 to $2.50. Free Cash Flow(4) of ~$600 million.

Third Quarter Fiscal 2027

Total revenue of ~$2.98 billion, a decline of ~6.0% year-over-year on an organic basis.(1)Adjusted EBIT margin(2) of ~6.0%.Non-GAAP Diluted EPS(3) of ~$0.55.

Additional metrics for the third quarter and full fiscal year 2027 guidance are presented in the table below.

Revenue

Q3 FY27

Guidance

FY27 Guidance

Low

High

YoY Organic Revenue %

~(6.0)%

(5.5) %

(5.0) %

Acquisition & Divestitures Revenues %

— %

Foreign Exchange Impact on Revenues %

(0.8) %

(0.3) %

Others

Non-GAAP Net Interest Expense ($M)*

~$15

~$54

Non-GAAP Tax Rate

~44%

~42%

Foreign Exchange Assumptions

Current Estimate

$/Euro Exchange Rate

$1.12

$1.14

$/GBP Exchange Rate

$1.32

$1.33

$/AUD Exchange Rate

$0.70

_________

* Excludes $46 million of interest income from the full year for the TCS litigation judgment

DXC does not provide reconciliations of non-GAAP measures included in its guidance because certain key information necessary for such reconciliations—most notably the impact of significant non-recurring items—is unavailable without unreasonable effort or may not be available at all. As a result, DXC believes any such reconciliation would not be meaningful.

Earnings Conference Call and Webcast

DXC Technology senior management will host a conference call and webcast to discuss second quarter fiscal 2027 results at 5:00 p.m. ET on October 29, 2026. The dial-in number for domestic callers is 833-461-5787. Callers who reside outside of the United States should dial +1-585-542-9983. The passcode for all participants is 964068. The webcast audio and any presentation slides will be available through a link posted on DXC Technology’s Investor Relations website.

A replay of the conference call will be available until 11:59 p.m. ET on November 5, 2026, at 833-309-1852. The replay passcode is 964068. A transcript of the conference call will be posted on DXC Technology’s Investor Relations website.

About DXC Technology

DXC Technology (NYSE: DXC) is a leading enterprise technology and innovation partner delivering software, services, and solutions to global enterprises and public sector organizations — helping them harness AI to drive outcomes at a time of exponential change with speed. With deep expertise in Managed Infrastructure Services, Application Modernization, and Industry-Specific Software Solutions, DXC modernizes, secures, and operates some of the world’s most complex technology estates. Learn more at DXC.com.

Forward-Looking Statements

Except for historical information, statements in this document may constitute “forward-looking statements” based on our current assumptions regarding future performance. These statements involve numerous risks, uncertainties, and other factors outside our control that could cause actual results to differ materially, including: inability to effectively manage our sales organization, including execution, pipeline, and talent management; our inability to expand service offerings to address emerging technological trends and competitive pressures; failure to attract and retain key personnel, including artificial intelligence (AI) and technical experts, or maintain partner relationships; risks associated with AI, including adoption, deployment, and governance, reliance on third-party platforms, cybersecurity, privacy, evolving regulations, and competitive displacement; inability to accurately estimate contract costs and timelines, or failure by us or third parties to deliver on commitments; systems failures, catastrophic events, and resulting service interruptions; liability or reputational damage from security breaches, cyber-attacks, or disclosure of confidential or personal data; failure to comply with new or existing laws, regulations, and customer contracts, including those relating to data privacy, economic sanctions, export controls, AI, and environmental, social, and governance (ESG) expectations; failure to maintain our credit rating, manage indebtedness, or raise capital, adversely affecting our liquidity and borrowing costs; risks associated with international operations, including exchange rate fluctuations and geopolitical conflicts (such as in Russia/Ukraine and the Middle East); macroeconomic challenges, including inflation, reduced customer spending, and economic slowdowns affecting deal closures and cost-takeout efforts; inability to compete effectively, maintain customer relationships, collect receivables, or comply with government contracting regulations; failure to succeed in strategic transactions, acquisitions, or partnerships; securities price volatility; supply chain disruptions, supplier non-performance, or increased procurement costs due to trade tensions, tariffs, or hostilities; climate change, natural disasters, and increased scrutiny of ESG initiatives; infringement of intellectual property rights, or inability to procure necessary third-party licenses; failure to achieve expected benefits of restructuring plans, workforce reductions, and automation/AI reliance; failure to maintain effective disclosure controls and internal control over financial reporting; asset impairment charges, including but not limited to intangibles and deferred tax assets; inability to pay dividends or repurchase shares; pending investigations, claims, and disputes; changes in tax rates, tax laws, and the timing and outcome of tax examinations; and risks related to completed strategic transactions. For a written description of these factors, see our most recently filed Annual Report on Form 10-K, and any updating information in subsequent SEC filings. Forward-looking statements speak only as of the date made. Except as required by law, we assume no obligation to update or revise any forward-looking statements.

About Non-GAAP Measures

In an effort to provide investors with supplemental financial information, in addition to the preliminary and unaudited financial information presented on a GAAP basis, we also disclose in this press release preliminary non-GAAP information including: earnings before interest and taxes (“EBIT”), EBIT margin, adjusted EBIT, adjusted EBIT margin, non-GAAP diluted EPS, organic revenues, organic revenue growth, free cash flow, and non-GAAP tax rate.

We believe EBIT, adjusted EBIT, non-GAAP income before income taxes, non-GAAP net income, non-GAAP net income attributable to DXC common stockholders, and non-GAAP EPS provide investors with useful supplemental information about our operating performance after excluding certain categories of expenses as well as gains and losses on certain dispositions and certain tax adjustments.

We believe constant currency revenues provides investors with useful supplemental information about our revenues after excluding the effect of currency exchange rate fluctuations for currencies other than U.S. dollars in the periods presented. See below for a description of the methodology we use to present constant currency revenues.

One category of expenses excluded from adjusted EBIT, non-GAAP income before income tax, non-GAAP net income, non-GAAP net income attributable to DXC common stockholders, and non-GAAP EPS, incremental amortization of intangible assets acquired through business combinations, if included, may result in a significant difference in period over period amortization expense on a GAAP basis. We exclude amortization of certain acquired intangible assets as these non-cash amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Although DXC management excludes amortization of acquired intangible assets, primarily customer-related intangible assets, from its non-GAAP expenses, we believe it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and support revenue generation. Any future transactions may result in a change to the acquired intangible asset balances and associated amortization expense.

Another category of expenses excluded from adjusted EBIT, non-GAAP income before income tax, non-GAAP net income, non-GAAP net income attributable to DXC common stockholders, and non-GAAP EPS is impairment losses, which, if included, may result in a significant difference in period-over-period expense on a GAAP basis. We exclude impairment losses as these non-cash amounts reflect generally an acceleration of what would be multiple periods of expense and are not expected to occur frequently. Further, assets such as goodwill may be significantly impacted by market conditions outside of management’s control.

Selected references are made to revenue growth on an “organic basis” in order that certain financial results can be viewed without the impact of fluctuations in foreign currency rates and without the impacts of acquisitions and divestitures, thereby providing comparisons of operating performance from period to period of the business that we have owned during both periods presented. Organic revenue growth is calculated by dividing the year-over-year change in GAAP revenues attributed to organic growth by the GAAP revenues reported in the prior comparable period. Organic revenue is calculated as constant currency revenue excluding the impact of mergers, acquisitions or similar transactions until the one-year anniversary of the transaction and excluding revenues of divestitures during the reporting period. This approach is used for all results where the functional currency is not the U.S. dollar. We believe organic revenue growth provides investors with useful supplemental information about our revenues after excluding the effect of currency exchange rate fluctuations for currencies other than U.S. dollars and the effects of acquisitions and divestitures in both periods presented.

Free cash flow represents cash flow from operations, less capital expenditures. Free cash flow is utilized by our management, investors, and analysts to evaluate cash available for normal business operations, to pay debt, repurchase shares, and provide further investment in the business.

There are limitations to the use of the non-GAAP financial measures presented in this report. One of the limitations is that they do not reflect complete financial results. We compensate for this limitation by providing a reconciliation between our non-GAAP financial measures and the respective most directly comparable financial measure calculated and presented in accordance with GAAP. Additionally, other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes between companies. Selected references are made on a “constant currency basis” so that certain financial results can be viewed without the impact of fluctuations in foreign currency rates, thereby providing comparisons of operating performance from period to period. Financial results on a “constant currency basis” are non-GAAP measures calculated by translating current period activity into U.S. Dollars using the comparable prior period’s currency conversion rates. This approach is used for all results where the functional currency is not the U.S. Dollar.

Condensed Consolidated Statements of Operations
(preliminary and unaudited)

Three Months Ended

Six Months Ended

(in millions, except per-share amounts)

September 30,

2026

September 30,

2025

September 30,

2026

September 30,

2025

Revenues

$ 3,034

$ 3,161

$ 6,033

$ 6,320

Costs of services

2,374

2,383

4,762

4,771

Selling, general and administrative

319

366

647

760

Depreciation and amortization

286

295

553

599

Restructuring costs

Interest expense

112

107

Interest income

(45)

(46)

(134)

(92)

Other income, net

(34)

(56)

(251)

(95)

Total costs and expenses

2,980

3,030

5,738

6,122

Income before income taxes

131

295

198

Income tax expense

156

140

Net income

139

Less: net (loss) income attributable to non-controlling

interest, net of tax

(11)

(7)

Net income attributable to DXC common stockholders

$ 24

$ 36

$ 146

$ 52

Income per common share:

Basic

$ 0.15

$ 0.20

$ 0.91

$ 0.29

Diluted

$ 0.15

$ 0.20

$ 0.89

$ 0.29

Weighted average common shares outstanding for:

Basic EPS

158.16

177.43

160.50

179.26

Diluted EPS

161.99

179.15

164.39

181.76

Selected Condensed Consolidated Balance Sheet Data
(preliminary and unaudited)

As of

(in millions)

September 30, 2026

March 31, 2026

Assets

Cash and cash equivalents

$ 1,599

$ 1,737

Receivables, net

2,815

2,973

Prepaid expenses

447

526

Other current assets

119

126

Total current assets

4,980

5,362

Intangible assets, net

1,370

1,612

Operating right-of-use assets, net

601

663

Goodwill

527

Deferred income taxes, net

785

802

Property and equipment, net

1,083

1,122

Other assets

2,864

2,802

Total Assets

$ 12,210

$ 12,890

Liabilities

Short-term debt and current maturities of long-term debt

$ 935

$ 520

Accounts payable

614

561

Accrued payroll and related costs

568

564

Operating lease liabilities

231

232

Accrued expenses and other current liabilities

1,222

1,261

Deferred revenue and advance contract payments

667

748

Income taxes payable

112

Total current liabilities

4,349

3,939

Long-term debt, net of current maturities

2,124

3,032

Non-current deferred revenue

468

559

Non-current operating lease liabilities

403

463

Non-current income tax liabilities and deferred tax liabilities

375

502

Other long-term liabilities

1,172

1,186

Total Liabilities

8,891

9,681

Total Equity

3,319

3,209

Total Liabilities and Equity

$ 12,210

$ 12,890

Condensed Consolidated Statements of Cash Flows
(preliminary and unaudited)

Six Months Ended

(in millions)

September 30,

2026

September 30,

2025

Cash flows from operating activities:

Net income

$ 139

$ 58

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

Depreciation and amortization

560

611

Goodwill impairment losses

—

Operating right-of-use expense

140

153

Share-based compensation

Deferred taxes

Loss (gain) on dispositions

(5)

Provision for losses on accounts receivable

Unrealized foreign currency exchange gain

(6)

(38)

Impairment losses and contract write-offs

Other non-cash charges, net

(5)

(8)

Changes in assets and liabilities:

Decrease in assets

119

211

Decrease in operating lease liability

(140)

(153)

Decrease in other liabilities

(265)

(322)

Net cash provided by operating activities

635

595

Cash flows from investing activities:

Purchases of property and equipment

(133)

(87)

Payments for transition and transformation contract costs

(49)

(58)

Software purchased and developed

(48)

(113)

Proceeds from sale of assets

Other investing activities, net

Net cash used in investing activities

(187)

(222)

Cash flows from financing activities:

Principal payments on long-term debt

(400)

—

Payments on finance leases and borrowings for asset financing

(73)

(107)

Taxes paid related to net share settlements of share-based compensation awards

(11)

(13)

Repurchase of common stock

(132)

(124)

Other financing activities, net

(2)

Net cash used in financing activities

(618)

(246)

Effect of exchange rate changes on cash and cash equivalents

(35)

Net (decrease) increase in cash and cash equivalents

(138)

Cash and cash equivalents at beginning of year

1,737

1,796

Cash and cash equivalents at end of period

$ 1,599

$ 1,888

Reconciliation of Non-GAAP Financial Measures

Our non-GAAP adjustments include:

Restructuring costs – includes costs, net of reversals, related to workforce and real estate optimization and other similar charges.Transaction, separation and integration-related (“TSI”) costs – includes third party costs related to integration, separation, planning, financing and advisory fees and other similar charges associated with mergers, acquisitions, strategic investments, joint ventures, and dispositions and other similar transactions incurred within one year of such transactions closing, except for costs associated with related disputes, which may arise more than one year after closing.Amortization of acquired intangible assets – includes amortization of intangible assets acquired through business combinations.Merger-related indemnification – represents the Company’s estimate of potential net liability for tax related indemnifications.Gain on litigation award – reflects a gain related to the TCS Litigation judgment.Gains and losses on real estate and facility sales – gains and losses related to dispositions of real property.Gains and losses on dispositions – gains and losses related to dispositions of businesses, strategic assets and interests in less than wholly-owned entities.Impairment losses – non-cash charges associated with the permanent reduction in the value of the Company’s assets (e.g., impairment of goodwill and other long-term assets including fixed assets and impairments to deferred tax assets for discrete changes in valuation allowances). Future discrete reversals of valuation allowances are likewise excluded.Tax adjustments – discrete tax adjustments to impair or recognize certain deferred tax assets, adjustments for changes in tax legislation and the impact of merger and divestitures. Income tax expense of all other (non-discrete) non-GAAP adjustments is based on the difference in the GAAP annual effective tax rate (AETR) and overall non-GAAP provision (consistent with the GAAP methodology).

Non-GAAP Results

A reconciliation of reported results to non-GAAP results is as follows:

Three Months Ended September 30, 2026

(in millions, except per-share amounts)

Reported

Restructuring

Costs

Transaction,

Separation

and

Integration-

Costs

Amortization

of Acquired

Intangible

Assets

(Gains) and

Losses on

Real Estate,

Facility Sales

and

Dispositions

Tax

Adjustment

Non-GAAP

Results

Income before income taxes

$ 54

$ 23

$ 3

$ 86

$ 9

$ —

$ 175

Income tax expense

(2)

Net income

Less: net income attributable to non-controlling interest, net of tax

(11)

—

(11)

Net income attributable to DXC common stockholders

$ 24

$ 16

$ 2

$ 58

$ 6

$ 2

$ 108

Effective Tax Rate

75.9 %

44.6 %

Basic EPS from continuing operations

$ 0.15

$ 0.10

$ 0.01

$ 0.37

$ 0.04

$ 0.01

$ 0.68

Diluted EPS from continuing operations

$ 0.15

$ 0.10

$ 0.01

$ 0.36

$ 0.04

$ 0.01

$ 0.67

Weighted average common shares outstanding for:

Basic EPS

158.16

Diluted EPS

161.99

Six Months Ended September 30, 2026

(in millions, except per-share amounts)

Reported

Restructuring

Costs

Transaction,

Separation

and

Integration-

Costs

Amortization

of Acquired

Intangible

Assets

Gain on

Litigation

Award

(Gains) and

Losses on

Real Estate,

Facility Sales

and

Dispositions

Tax

Adjustment

Non-GAAP

Results

Income before income taxes

$ 295

$ 49

$ 3

$ 173

$ (214)

$ 7

$ —

$ 313

Income tax expense

156

(99)

(2)

145

Net income

139

105

(115)

168

Less: net income attributable to non-controlling

interest, net of tax

(7)

—

(7)

Net income attributable to DXC common stockholders

$ 146

$ 30

$ 2

$ 105

$ (115)

$ 5

$ 2

$ 175

Effective Tax Rate

52.9 %

46.3 %

Basic EPS from continuing operations

$ 0.91

$ 0.19

$ 0.01

$ 0.65

$ (0.72)

$ 0.03

$ 0.01

$ 1.09

Diluted EPS from continuing operations

$ 0.89

$ 0.18

$ 0.01

$ 0.64

$ (0.70)

$ 0.03

$ 0.01

$ 1.06

Weighted average common shares outstanding for:

Basic EPS

160.50

Diluted EPS

164.39

Three Months Ended September 30, 2025

(in millions, except per-share amounts)

Reported

Restructuring

Costs

Transaction,

Separation

and

Integration-

Costs

Amortization

of Acquired

Intangible

Assets

Merger

Indemnification

(Gains) and

Losses on

Real Estate,

Facility Sales

and

Dispositions

Tax

Adjustment

Non-GAAP

Results

Income before income taxes

131

—

(8)

—

247

Income tax expense

—

(2)

(1)

(16)

Net income

(7)

154

Less: net income attributable to non-controlling interest,

net of tax

—

Net income attributable to DXC common stockholders

$ 36

$ 29

$ 1

$ 73

$ 2

$ (7)

$ 16

$ 150

Effective Tax Rate

69.5 %

37.7 %

Basic EPS

$ 0.20

$ 0.16

$ 0.01

$ 0.41

$ 0.01

$ (0.04)

$ 0.09

$ 0.85

Diluted EPS

$ 0.20

$ 0.16

$ 0.01

$ 0.41

$ 0.01

$ (0.04)

$ 0.09

$ 0.84

Weighted average common shares outstanding for:

Basic EPS

177.43

Diluted EPS

179.15

Six Months Ended September 30, 2025

(in millions, except per-share

amounts)

Reported

Restructuring

Costs

Transaction,

Separation

and

Integration-

Costs

Amortization

of Acquired

Intangible

Assets

Merger

Indemnification

(Gains) and
Losses on
Real Estate,
Facility Sales
and
Dispositions

Impairment

Losses

Tax

Adjustment

Non-GAAP

Results

Income before income taxes

198

175

(8)

—

455

Income tax expense

140

—

(2)

(1)

(18)

173

Net income

140

(7)

282

Less: net income attributable to non-

controlling interest, net of tax

—

Net income attributable to DXC

common stockholders

$ 52

$ 57

$ 2

$ 140

$ 4

$ (7)

$ 10

$ 18

$ 276

Effective Tax Rate

70.7 %

38.0 %

Basic EPS

$ 0.29

$ 0.32

$ 0.01

$ 0.78

$ 0.02

$ (0.04)

$ 0.06

$ 0.10

$ 1.54

Diluted EPS

$ 0.29

$ 0.31

$ 0.01

$ 0.77

$ 0.02

$ (0.04)

$ 0.06

$ 0.10

$ 1.52

Weighted average common shares outstanding for:

Basic EPS

179.26

Diluted EPS

181.76

The above tables serve to reconcile the non-GAAP financial measures to the most directly comparable GAAP measures. Please refer to the “About Non-GAAP Measures” section of the press release for further information on the use of these non-GAAP measures.

Year-over-Year Organic Revenue Growth

Three Months Ended

Six Months Ended

September 30,

2026

September 30,

2025

September 30,

2026

September 30,

2025

Total revenue growth

(4.0) %

(2.5) %

(4.5) %

(2.4) %

Foreign currency

— %

(1.9) %

(0.8) %

(2.0) %

Acquisitions and Divestitures

— %

0.2 %

— %

0.1 %

Organic revenue growth

(4.0) %

(4.2) %

(5.3) %

(4.3) %

CES revenue growth

(3.3) %

(1.9) %

(2.3) %

Foreign currency

— %

(1.9) %

(0.8) %

(2.0) %

Acquisitions and Divestitures

— %

0.4 %

— %

0.4 %

CES organic revenue growth

(3.3) %

(3.4) %

(3.1) %

(3.9) %

GIS revenue growth

(10.0) %

(4.2) %

(9.7) %

(3.9) %

Foreign currency

— %

(2.1) %

(0.9) %

(2.1) %

Acquisitions and Divestitures

— %

GIS organic revenue growth

(10.0) %

(6.3) %

(10.6) %

(6.0) %

Insurance revenue growth

23.1 %

4.6 %

12.6 %

5.0 %

Foreign currency

— %

(1.0) %

(0.2) %

(1.4) %

Acquisitions and Divestitures

— %

Insurance organic revenue growth

23.1 %

3.6 %

12.4 %

3.6 %

Segment Profit

Segment profit is defined as segment revenues less costs of services, selling, general and administrative, depreciation and amortization, and other segment items. The Company does not allocate to its segments certain operating expenses managed at the corporate level. These unallocated expenses generally include certain corporate function costs, pension and OPEB actuarial and settlement gains and losses, restructuring costs, transaction, separation, and integration-related costs, amortization of acquired intangible assets, impairment losses, gains/(losses) on dispositions of businesses, gains/(losses) on real estate and facility sales, and other costs that do not reflect ongoing segment operating performance. As part of the transition to the new segment structure, the Company updated the assumptions that define which expenses remain in corporate post allocation. The tables below reflect those revised assumptions.

Three Months Ended

Six Months Ended

(in millions)

September 30,

2026

September 30,

2025

September 30,

2026

September 30,

2025

CES profit

$ 125

$ 145

$ 225

$ 250

GIS profit

122

104

219

Insurance profit

Corporate expenses

(49)

(41)

(71)

(60)

Adjusted EBIT

187

254

337

470

Restructuring costs

(23)

(35)

(49)

(72)

Transaction, separation and integration-related

costs

(3)

(1)

(3)

(2)

Amortization of acquired intangible assets

(86)

(88)

(173)

(175)

Merger related indemnification

—

(2)

Gain on litigation award

—

168

—

(Losses) gains on real estate, facility sales and

dispositions

(9)

(7)

Impairment losses

—

(14)

EBIT

138

273

213

Interest income

134

Interest expense

(57)

(53)

(112)

(107)

Income before income taxes

131

295

198

Income tax expense

(41)

(91)

(156)

(140)

Net income

139

Segment profit margins

CES

10.3 %

11.6 %

9.2 %

10.0 %

GIS

4.6 %

7.7 %

3.6 %

6.9 %

Insurance

11.4 %

8.8 %

11.1 %

9.6 %

Total Company margins

Adjusted EBIT margin

6.2 %

8.0 %

5.6 %

7.4 %

EBIT margin

2.2 %

4.4 %

4.5 %

3.4 %

View original content to download multimedia:https://www.prnewswire.com/news-releases/dxc-technology-reports-second-quarter-fiscal-year-2027-results-302924210.html

SOURCE DXC Technology Company

Technology

From Catapult to capital: NextFin Asia reaches ﬁrst investment milestone with Indonesia’s Finfra

Published

22 minutes ago

October 30, 2026

First Catapult: Inclusion SE Asia participant to receive investment through NextFin Asia

LUXEMBOURG, Oct. 30, 2026 /PRNewswire/ — The Luxembourg House of Financial Technology (LHoFT) today announced that Finfra, an Indonesia-based lending-as-a-service platform and participant in its Catapult: Inclusion SE Asia program, is the ﬁrst company to receive investment through NextFin Asia.

Finfra raised new capital in a Series A extension funding round from ADB Ventures, the venture capital arm of the Asian Development Bank (ADB), through the NextFin Asia fund, alongside existing investors Cento Ventures and Accion Ventures. The funding will support Finfra’s growth, strengthen its technology platform, and support its expansion into new markets.

Launched in February 2026, NextFin Asia is the dedicated investment fund supporting LHoFT’s Catapult: Inclusion SE Asia acceleration program. It is a partnership between LHoFT, ADB Ventures, and the Luxembourg Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade (MFA).

“When we launched NextFin Asia, we called it a world ﬁrst: a development bank joining forces with a ﬁntech accelerator to invest in ﬁntechs driving ﬁnancial inclusion and social impact. A unique and bold model, made possible by the conﬁdence the Luxembourg Government and ADB showed in Catapult SE Asia. With this ﬁrst investment, that ambition is now becoming reality,” said Alex Panican, Acting CEO of the LHoFT.

The fund invests in early-stage tech companies helping to advance ﬁnancial inclusion across Southeast Asia. By combining the program’s acceleration and ecosystem support with access to investment opportunities through ADB Ventures, NextFin Asia helps promising companies access the capital and support they need to grow. Finfra participated in Catapult: Inclusion SE Asia in 2024.

“Finfra’s progression from Catapult participant to the ﬁrst company to receive investment through NextFin Asia highlights the high value of combining acceleration support with access to capital. It is a very encouraging early example of how the initiative can help promising ﬁntech companies expand their reach and impact across the region,” added Annabelle Fonteneau, Head of Acceleration Programs at the LHoFT.

Finfra provides the infrastructure and operational capabilities lenders need to launch and scale lending products more eﬃciently. Through a single platform, lenders can originate, underwrite, service, and collect loans without having to build local operations from the ground up, helping ﬁnancial institutions reach more borrowers, including the underserved.

The platform also enables embedded ﬁnance models, allowing businesses and digital platforms to integrate credit into existing customer journeys and opening new pathways for small businesses to access working capital.

“Access to credit remains one of the biggest challenges facing small businesses across Southeast Asia,” said Markus Prommik, Founder and CEO of Finfra. “Our mission is to make lending infrastructure more accessible so that ﬁnancial institutions can serve more businesses and individuals that have traditionally been overlooked. We’re grateful for the support of our investors and excited to continue building the infrastructure that helps expand access to capital for millions of small businesses in the region.”

“Many small businesses still struggle to access the ﬁnancing they need to grow, while lenders face signiﬁcant costs and complexity in reaching them,” said Yichu Zhang, Investment Specialist, ADB Ventures. “Finfra is helping close that gap by making it easier for lenders to launch and scale lending products.

Through NextFin Asia, we’re pleased to support a solution that can help more small businesses access ﬁnancing through formal channels.”

In addition to investment, Finfra will continue to beneﬁt from the wider NextFin Asia ecosystem, including connections with ﬁnancial institutions, industry experts, and partners working to advance ﬁnancial inclusion across the region.

Catapult: Inclusion SE Asia is gearing up for its next cohort of promising ﬁntech startups. Applications already open. Visit Catapult: Inclusion SE ASia #4 webpage to learn more and to apply!

About the LHoFT Foundation
The LHoFT Foundation is a public-private sector initiative that drives technology innovation for Luxembourg’s ﬁnancial services industry, connecting the domestic and international ﬁntech community to develop solutions that shape the world of tomorrow. The LHoFT Foundation offers an innovation platform that provides ﬁntech startups with access to talent, expertise, funding, and market opportunities. The LHoFT Foundation also works with government agencies, regulators, and industry associations to foster a supportive and inclusive ﬁntech ecosystem in Luxembourg.

For more information, please visit: https://lhoft.com/

About Finfra
Established in 2022, Finfra serves as a prominent Indonesian lending-as-a-service platform, allowing enterprises to embed customizable credit offerings directly into their customer journeys. Its API-driven infrastructure delivers end-to-end loan management, automated underwriting, risk analytics, and institutional capital access, helping digital platforms generate additional revenues while deepening customer connection. Supported by prominent venture funds including Cento Ventures, Accion Ventures, and ZVC, Finfra actively promotes ﬁnancial inclusion throughout Southeast Asia. Through close cooperation between its aﬃliate and the Indonesian Financial Services Authority (OJK), the company upholds rigorous regulatory standards, expanding ﬁnancing opportunities across the country.

For additional information, please visit: https://ﬁnfra.io/

About ADB Ventures
ADB Ventures is the venture arm of the Asian Development Bank, supporting technology-driven startups that deliver measurable social, climate, and development impact across Asia and the Paciﬁc. It provides

early-stage capital, strategic support, and access to ADB’s network, helping startups scale innovative solutions in sectors such as inclusive ﬁntech, climate tech, sustainable agriculture, and clean energy. By crowding-in private capital for sustainable development, ADB Ventures accelerates progress toward the UN Sustainable Development Goals in emerging markets.

For more information, please visit: https://ventures.adb.org/

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/from-catapult-to-capital-nextfin-asia-reaches-rst-investment-milestone-with-indonesias-finfra-302923995.html

SOURCE THE LHOFT – LUXEMBOURG HOUSE OF FINANCIAL TECHNOLOGY

Technology

PhotonPay Raises $40M Series C to Scale Its Stablecoin-Centric Financial OS

Published

22 minutes ago

October 30, 2026

Led by Blockchain Capital, the funding will accelerate the expansion of PhotonPay’s stablecoin-centric Financial OS, connecting stablecoin liquidity with global fiat networks to unlock digital assets for everyday corporate operations and cross-border settlement.

HONG KONG, Oct. 30, 2026 /PRNewswire/ — PhotonPay today announced the closing of a $40 million Series C funding round led by Blockchain Capital, with participation from new investor SBI Group and follow-on investments from existing investors IDG Capital, GL Ventures, and Lightspeed Faction. Blacksheep Technology acted as exclusive financial advisor to PhotonPay on the transaction.

The new capital will support the expansion of PhotonPay’s stablecoin-centric Financial Operating System (Financial OS), with investment focused on enhancing multi-asset wallet capabilities, expanding global card issuing, strengthening local clearing infrastructure in key markets, and developing an agent-ready financial execution layer.

As of August 2026, PhotonPay’s annualized transaction volume reached US$65 billion. The company has secured 34 payment and financial licenses and regulatory authorizations across the Americas, Europe and Asia, and serves over 200,000 business customers across more than 200 countries and territories.

As stablecoins move beyond crypto-native use cases into corporate treasury, settlement and commercial spending, PhotonPay sees the next phase of global finance not as a choice between stablecoins and fiat currencies, but as the convergence of both. Its Financial OS connects on-chain liquidity with the banking, clearing and card networks businesses rely on for everyday operations.

“Moving money across borders in seconds means little if it still takes days to put that capital to work,” said Lewison Chen, Founder and CEO of PhotonPay. “Stablecoins are accelerating global money movement, while local clearing and global card issuing connect that liquidity to local settlement and everyday business spending. Our Financial OS brings these capabilities together, making the underlying infrastructure far less visible to businesses, even as it becomes more essential than ever.”

“At the same time, business software is becoming increasingly autonomous,” Chen added. “AI is shifting financial workflows from people manually operating fragmented tools toward systems that understand business intent and coordinate execution across assets, accounts and financial rails. That creates the foundation for agentic commerce. Stablecoins change how money moves. AI changes how it gets put to work. But commerce is still what money is for.”

Moving Money Across Assets and Markets

PhotonPay’s Financial OS brings together multi-asset wallets, global money movement, foreign exchange, local clearing, and global card issuing through an integrated API-first architecture. This unified system gives businesses access to the financial capabilities they need to manage and deploy funds across markets.

Stablecoins sit at the core of this architecture. PhotonPay’s multi-asset wallet connects stablecoin liquidity with fiat balances, integrating asset conversion, foreign exchange, and local clearing into a single connected workflow. This enables businesses to move funds across supported on-chain and traditional financial networks, turning digital asset liquidity into purchasing power for local payments and everyday corporate spending.

Supporting this dual-rail infrastructure is PhotonPay’s established global financial network. Businesses can open local collection accounts in 17 key markets and receive funds in more than 60 currencies. On the payout side, the network supports over 100 payment routes across local clearing systems, bank transfers, and digital wallets, including payouts to 74 major local e-wallets. Approximately 97% of payout transactions reach recipients within hours or on the same day, with 68% arriving in real time.

Global card issuing extends these capabilities into programmable business spending. Through PhotonPay’s APIs, businesses and platforms can issue virtual and physical cards, configure granular spending controls, and embed card payments directly into their software and automated workflows. Over the past 12 months, PhotonPay issued 4.4 million cards, up 275% YoY.

Beyond its first-party payment solutions, PhotonPay makes its infrastructure available through embedded finance, enabling technology platforms to natively integrate global accounts, payments, and card issuing into their own products. The company now serves more than 100 enterprise and platform partners, extending the reach of its Financial OS into industry-specific workflows.

From Financial Intent to Agentic Commerce

As AI agents assume active operational roles, financial infrastructure must evolve beyond API access to enable programmable, policy-governed execution. It requires systems capable of translating high-level instructions into coordinated financial actions, with deterministic controls governing how those actions are executed.

In May 2026, PhotonPay and Mastercard completed a live agentic payment demonstration using a tokenized PhotonPay card, validating AI-initiated transactions across existing global card networks.

Building on this milestone, PhotonPay is developing standardized financial interfaces designed for developers and AI agents. With planned support for the Model Context Protocol (MCP), PhotonPay aims to make account information, balances, card functions, and payments accessible as composable financial primitives, allowing AI agents to securely retrieve context and initiate financial workflows within defined authorization boundaries.

To govern this agent-ready layer, PhotonPay is developing a policy-based execution framework designed to enforce programmable authorization rules, spending limits, and transaction-level controls. The framework is intended to enable AI agents to coordinate financial tasks across supported accounts and assets, while ensuring that execution remains subject to explicit, enforceable policies set by businesses.

PhotonPay is also advancing its AI-assisted risk review capabilities, designed to identify complex cases for human assessment. Together, these initiatives reflect a foundational principle of autonomous finance: AI may interpret intent and coordinate tasks, but financial execution must remain governed by verifiable authorization, deterministic controls, and auditable records.

“Connecting financial networks is only the beginning. The real breakthrough is abstracting that complexity behind a unified, programmable financial layer, so businesses and AI agents can move from intent to execution within clearly defined boundaries,” said Chen.

Simple on the Surface, Deep by Design

The promise of a Financial OS is simplicity: enabling businesses to manage assets, route money, and execute payments through a unified financial operating layer. Yet delivering that simplicity requires deep financial infrastructure beneath the surface.

While stablecoins accelerate borderless value transfer, turning that liquidity into local settlement, supplier payments, and corporate spending still depends on established banking relationships, domestic clearing rails, foreign exchange infrastructure, and global card networks. Each market brings its own regulatory and operational requirements.

For PhotonPay, building a Financial OS means abstracting these fragmented global networks into a programmable, interconnected financial system. The objective is not to eliminate financial complexity, but to manage it within the underlying infrastructure, so businesses can operate without having to navigate these systems themselves.

“AI can simplify how businesses interact with financial services, but it cannot replace the infrastructure required to deliver them,” said JP Pi, Chief Compliance Officer at PhotonPay. “Establishing local financial capabilities takes years of investment, institutional partnerships, and regulatory engagement. Software or AI models alone cannot replicate that depth. The simplicity businesses experience is the result of that heavy lifting, not a substitute for it.”

PhotonPay has engineered a financial foundation spanning both stablecoin and fiat rails, connecting multi-asset conversion with local clearing networks. Institutional partnerships with J.P. Morgan, Standard Chartered, and DBS, alongside connections to domestic payment systems such as Brazil’s Pix and Mexico’s SPEI, form the backbone of this network.

The new capital will enable PhotonPay to strengthen its local clearing and compliance infrastructure in existing markets while expanding into new jurisdictions, scaling the reach of its Financial OS across corporate spending, embedded finance, and agentic commerce.

“Businesses want one provider that can handle their payments across currencies and markets, whether they’re using bank transfers, stablecoins or cards. Lewison and his team have spent a decade building the banking relationships, licenses and local payment infrastructure to deliver that. We believe PhotonPay’s ability to bring these capabilities together gives it a strong advantage as businesses adopt stablecoins for everyday payments.” – BCAP，Yuanhan Li，Partner

“As stablecoins become increasingly integrated into global payment systems, bridging digital assets with traditional financial infrastructure will be essential to unlocking their real-world potential. PhotonPay’s established global payment network and its vision for a stablecoin-centric Financial OS align closely with SBI Group’s strategy to advance digital financial infrastructure and expand the practical adoption of digital assets. We look forward to supporting PhotonPay’s continued growth and exploring opportunities for strategic collaboration across the SBI Group ecosystem.” – Eiichiro So, CEO & Managing Director of SBI Ven Capital

About PhotonPay

Founded in Hong Kong in 2015, PhotonPay is a global fintech company building a next-generation, stablecoin-centric Financial Operating System (Financial OS). Its API-first architecture brings together multi-asset wallets supporting stablecoins and fiat currencies, global money movement, foreign exchange, global card issuing, embedded finance, and local clearing infrastructure, connecting digital and traditional financial rails within an integrated financial system.

PhotonPay operates 16 offices worldwide, employs nearly 600 people, and holds 34 payment and financial licenses and regulatory authorizations across the Americas, Europe and Asia. The company serves businesses across more than 200 countries and territories.

For more information, visit www.photonpay.com.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/photonpay-raises-40m-series-c-to-scale-its-stablecoin-centric-financial-os-302923806.html

SOURCE PhotonPay

Technology

MetaMetrics and LEDDI Expand Partnership to Advance English Literacy in South Korea

Published

22 minutes ago

October 30, 2026

As South Korea’s exclusive Lexile Express Test distributor, LEDDI will provide research-based tools to assess English reading ability, match students with appropriate texts, and monitor growth.

DURHAM, N.C. and SEOUL, South Korea, Oct. 30, 2026 /PRNewswire/ — MetaMetrics®, creator of the Lexile® Framework for Reading, and LEDDI Corporation, a Seoul-based educational technology company, announce an expanded partnership that establishes LEDDI as the exclusive authorized distributor of the Lexile Framework for Reading computer-adaptive and fixed-form Express Tests in South Korea.

The expanded partnership builds on the companies’ existing collaboration to bring research-based reading measurement to English language learners across South Korea. Through the agreement, LEDDI will offer both components of the Lexile Framework: student reading measures and text complexity measures. Together, these capabilities enable educators to match students with reading materials in their optimal reading range, personalize instruction, and monitor reading growth over time.

As a distributor, LEDDI will offer a computer-adaptive version of the Lexile Express Test to efficiently assess students’ English reading ability and provide Lexile measures. LEDDI will also offer Lexile text measurement capabilities, allowing educators and content providers to determine the reading demands of instructional materials using the same developmental scale.

“Reliable, research-backed reading measurement is essential to helping English language learners build the skills they need to succeed,” said Chris Minnich, CEO of MetaMetrics. “By bringing both sides of the Lexile scale together, LEDDI can help their partners support reading growth.”

LEDDI’s comprehensive English literacy platform serves elementary students and educators and features more than 4,500 English-language books, AI-powered worksheets, reading assessments, and classroom management tools that streamline instruction and track student progress.

“Accurate assessment of Korean students’ reading abilities unlocks truly personalized learning, driving tangible progress in their English proficiency. Through LEDDI, educators can now provide students and parents with an easy-to-follow learning path for each student’s language development,” said Kim Seung Kyu, CEO of LEDDI Corporation.

The Lexile Framework is an internationally recognized standard for reading measurement, with more than 40 million students receiving Lexile measures annually and more than 100 million pieces of content measured. The expanded partnership strengthens access to this global measurement infrastructure for English language learning in South Korea.

About MetaMetrics

MetaMetrics is the developer of the Lexile® Framework for Reading and the Quantile® Framework for Mathematics, the global standard for measuring student reading and math ability. For more than 40 years, MetaMetrics has partnered with educators, assessment providers, and governments to deliver scientifically rigorous measures that improve instruction and support meaningful growth. Lexile and Quantile measures are used in all 50 states and in more than 100 countries worldwide, helping nearly 40 million students annually understand and advance their academic achievement. Learn more at www.metametrics.com.

About LEDDI

LEDDI Corporation is dedicated to providing educators with innovative and easy-to-use tools for teaching English, with a focus on enhancing the educational experience. Through its flagship program, LEDDI, the company offers a personalized learning experience paired with rich, engaging content tailored to each student’s needs. To learn more about how LEDDI Corporation is redefining education, visit https://leddi.ai/.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/metametrics-and-leddi-expand-partnership-to-advance-english-literacy-in-south-korea-302924348.html

SOURCE MetaMetrics

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