As of June 30, 2021, CI&T had $15.1 million in cash and $227.6 million in total liabilities.
Listed bookrunners of the IPO are Goldman Sachs, Citigroup, J.P. Morgan and other investment banks.
CI&T IPO Details
CI&T intends to raise $350 million in gross proceeds from an IPO of its Class A common stock, offering 19.44 million shares at a proposed midpoint price of $18.00 per share.
Ok alot to chew on here-
A) This stk is undervalued.
B) we take the upgrade with a grain of salt because they were lead underwriter.
CI&T Reports Third Quarter Financial Results
Wed, December 1, 2021, 5:59 PM
In this article:
CAMPINAS, Brazil, December 01, 2021--(
BUSINESS WIRE)--CI&T ("Company", NYSE: CINT), a global digital specialist, today announces its results for the third quarter of 2021 (3Q21) and for the nine months ended September 30, 2021 (9M21). For comparison reasons, we refer to the results for the third quarter of 2020 (3Q20) and for the nine months ended September 30, 2020 (9M20).
Our financial results from 3Q21 and 9M21 contemplate the consolidation of Dextra as of August 10, 2021, while our pro forma results consider the acquisition of Dextra as if the acquisition had occurred on January 1, 2021.
3Q21 Highlights:
- Net revenue of R$376.0 million, a 55% growth year-over-year (57% in constant currency basis).
- 44% net revenue growth in the U.S. market compared with 3Q20.
- Pro forma net revenue of R$411.1 million.
We are very excited to present a robust 55% year-over-year net revenue growth in the quarter with consistent profitability, even compared to a solid 3Q20 results. This growth was boosted by higher demand from existing clients combined with the addition of new clients to our portfolio, representing our 21st consecutive quarter of net revenue growth. We continue to observe a strong demand environment and we expect our net revenue in the fourth quarter of 2021 to be at least R$440.0 million, a 66% growth year-over-year."
On August 10, 2021, we concluded the acquisition of Dextra, a company based in Brazil focused on customized software development and an expert in combining design methodologies, agile development and data science to deliver digital products to its clients. With a solid client portfolio, Dextra will allow us to further diversify our client base, as well as strengthen our ability to deliver high quality services to our clients.
The number of clients with net revenue above R$1 million in the last twelve months (LTM) grew from 62 in 2Q21 to 75 in the quarter in all regions (Latam, North America, Europe and APAC), which we expect will contribute to foster our revenue growth in the following years. In terms of geographies, all regions are on a growth trajectory, with the USA continuing to be a fast growing market, with a 44% growth in the period.
We onboarded 1,364 net new employees during 3Q21, including 1,167 from Dextra, totaling 5,398 CI&Ters by the end of the quarter. We continue to develop our people training actions (CI&T University), fostering career opportunities and growth at all levels.
During the quarter, we began a new R&D joint project, named Cognitive Lab (C-Lab), along with UNICAMP, one of the most respected Brazilian universities, and a few CI&T clients, to develop machine learning tools on human dialogues, aimed at automating customer service processes.
Pro forma financial highlights, including the Dextra acquisition as if the acquisition had occurred on January 1st, 2021
For 3Q21(1):
- Pro forma net revenue of R$411.1 million.
- Pro forma adjusted EBITDA of R$91.8 million and 22.3% adjusted EBITDA margin.
- Pro forma net profit of R$1.7 million.
- Pro forma adjusted net profit of R$27.4 million and 6.7% adjusted net profit margin.
For 9M21:
- Pro forma net revenue of R$1,160.5 million.
- Pro forma adjusted EBITDA of R$277.5 million and 23.9% adjusted EBITDA margin.
- Pro forma net profit of R$88.8 million and 7.6% net profit margin.
- Pro forma adjusted net profit of R$117.2 million and 10.1% adjusted net profit margin.
