Xerox Release Third-Quarter Results

Financial Summary

Q3 2025

• Revenue of $1.96 billion, up 28.3 percent, or 27.0 percent in constant currency¹. On a pro forma¹ basis, revenue down 7.8 percent.
• GAAP net (loss) of $(760) million, or $(6.01) per share, narrowing the loss by $445 million or $3.70 per share, year-over-year, respectively.
• Adjusted¹ net income of $27 million, or $0.20 per share, down $7 million or $0.05 per share, year-over-year, respectively.
• Adjusted¹ operating margin of 3.3 percent, down 190 basis points year-over-year.
• Operating cash flow of $159 million, up $43 million year-over-year.
• Free cash flow¹ of $131 million, up $24 million year-over-year.