UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

UNDERTHE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2025

Commission File Number: 001-41035

CI&T INC

(Translation of registrant’s name into English)

Estrada Guiseppina Vianelli De Napoli, 1455 –  C,

Globaltech 13.100-000 - Brazil

Campinas-State of São Paulo

+55 19 21024500

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒                                                        Form 40-F ☐

CI&T Inc

TABLE OF CONTENTS

ITEM

CI&T Reports 13.7% Net Revenue Growth at Constant Currency in 1Q25 Results

New York - May 13, 2025 - CI&T (NYSE: CINT, “Company”), a global technology transformation specialist and fast-growing public company, today announces its results for the first quarter of 2025 (1Q25) in accordance with International Financial Reporting Standards (IFRS), as issued by the IASB. For comparison purposes, we refer to the results for the first quarter of 2024 (1Q24). The numbers are presented in U.S. dollars.

First quarter of 2025 (1Q25) highlights

Cesar Gon, founder and CEO of CI&T, commented, “As we report a strong 13.7% organic constant currency revenue growth, we remain confident in our robust underlying fundamentals and strategic market positioning. Our commitment to innovation and resilience—now strengthened by our AI-driven strategy—is accelerating business transformation and unlocking deeper impact for our clients. We are reaffirming our guidance for 2025, as we continue to drive value for our clients and stakeholders while navigating the evolving market landscape.”

Comments on the 1Q25 financial performance

Net revenue reached US$110.9 million in 1Q25, a 4.9% increase from US$105.7 million in 1Q24, or 13.7% growth at constant currency. In 1Q25, net revenue among our top 10 clients grew 7.2% compared to the same period in 2024.

The cost of services provided was US$76.4 million in 1Q25, a 6.3% increase from 1Q24, due to additional headcount and personnel expenses to support anticipated revenue growth as a result of rising client demand. Gross profit was US$34.5 million. Adjusted gross profit reached US$36.7 million, a 2.0% increase from 1Q24. The adjusted gross profit margin was 33.1% in 1Q25, 0.9 percentage points lower than in 1Q24.

Selling, general and administrative (SG&A) and other operating expenses totaled US$20.3 million in 1Q25, a 13.5% reduction compared to 1Q24. This decrease was primarily driven by lower personnel expenses classified as SG&A in 1Q25 and the one-time business restructuring expenses incurred in 2024.

Adjusted EBITDA was US$19.6 million in 1Q25, a 15.2% increase from US$17.0 million in 1Q24. In 1Q25, the adjusted EBITDA margin was 17.6%, 1.6 percentage points higher than in 1Q24.

Net finance costs totaled US$1.7 million in 1Q25, a 30.2% decrease from 1Q24, mainly driven by lower debt position. Income tax expense was US$5.0 million in 1Q25, an increase of 48.4% compared to 1Q24. The income tax paid (cash effect) in the quarter was US$0.3 million, equivalent to a cash tax rate of 2.6%.

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Net profit was US$7.5 million in 1Q25, up 64.7% from 1Q24. Adjusted net profit was US$9.6 million, an increase of 14.2% compared to 1Q24. The adjusted net profit margin increased from 8.0% in 1Q24 to 8.7% in 1Q25, mainly due to lower SG&A expenses.

Diluted EPS was US$0.05 in 1Q25, reflecting a 68.1% increase compared to US$0.03 in 1Q24. Adjusted diluted EPS rose to US$0.07 in 1Q25, a 16.6% increase over the same period last year. Finally, cash generated from operating activities was US$19.6 million in 1Q25.

Business Outlook

In the second quarter of 2025, we expect our reported net revenue to be at least US$115.5 million, equivalent to an 11.9% increase year-over-year on a constant currency basis. This reflects a 6.5% growth in U.S. dollars on a reported basis, compared to US$108.5 million in 2Q24. This estimate assumes an average FX rate of 5.79 BRL/USD in 2Q25, compared to 5.21 BRL/USD in 2Q24.

For the full year of 2025, we are reaffirming our guidance. We expect our net revenue growth at constant currency to be in the range of 9% to 15% year-over-year. In addition, we estimate our Adjusted EBITDA margin to be in the range of 18% to 20%.

These expectations are forward-looking statements, and actual results may differ materially. See "Cautionary Statement on Forward-Looking Statements" below.

Conference Call Information
Cesar Gon (Founder and CEO), Bruno Guicardi (Founder and President for North America and Europe), Stanley Rodrigues (CFO), and Eduardo Galvão (Director of Investor Relations) will host a video conference call to discuss the 1Q25 financial and operating results on May 13, at 4:30 p.m. Eastern Time / 5:30 p.m. BRT. The earnings call can be accessed on the Company’s Investor Relations website at https://investors.ciandt.com or at the following link: https://www.youtube.com/live/Sk45BwGj5mE.

About CI&T

CI&T (NYSE: CINT) is a global technology transformation specialist for 100+ large enterprises and fast growth clients. CI&T brings a 30-year track record of helping clients navigate change to deliver accelerated business impact, with deep expertise across AI, strategy, customer experience, software development, cloud services, data and more. CI&T’s proprietary AI platform, CI&T FLOW boosts team productivity, ensuring fast, efficient, and scalable delivery of world-class solutions. Operating globally with over 7,300 professionals across 9 countries, CI&T is recognized by Forrester as a Leader in Modern Application Development Services.

Non-IFRS Financial Measures

We regularly monitor certain financial and operating metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. These non-IFRS financial measures include Adjusted Gross Profit, Adjusted Gross Profit Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Profit, Adjusted Net Profit Margin, Net Revenue at Constant Currency, and Adjusted Diluted EPS. They should be considered in addition to results prepared in accordance with IFRS, but not as substitutes for IFRS results. In addition, our calculation of these non-IFRS financial measures may differ from those used by other companies, and therefore, comparability may be limited. These non-IFRS financial measures are provided as additional information to enhance investors’ understanding of our operations’ historical and current financial performance.

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CI&T is not providing a quantitative reconciliation of its forward-looking non-IFRS Net Revenue at Constant Currency and Adjusted EBITDA Margin to the most directly comparable IFRS measure because it cannot reasonably predict the outcome of certain significant items without unreasonable efforts. These items include, but are not limited to, share-based compensation expenses, acquisition-related expenses, the tax effect of non-IFRS measures, foreign currency exchange gains/losses, and other items. These items are uncertain, depend on various factors, and could have a material impact on our IFRS-reported results for the guidance period.

We calculate Net Revenue at Constant Currency by translating Net Revenue from entities reporting in foreign currencies into U.S. dollars using the comparable foreign currency exchange rates from the prior period to show changes in our revenue without giving effect to period-to-period currency fluctuations.

In calculating Adjusted Gross Profit, we exclude cost components unrelated to the direct management of our services. For the periods presented, the adjustments applied were: (i) depreciation and amortization related to the costs of services provided and (ii) share-based compensation expenses.

In calculating Adjusted EBITDA, we exclude components unrelated to the direct management of our services. We calculate Adjusted EBITDA for the periods presented as Net Profit, plus net finance costs, income tax expense, depreciation and amortization, plus: (i) share-based compensation expenses; (ii) government grants related to tax reimbursement in our Chinese subsidiary; (iii) acquisition-related expenses; and (iv) business restructuring expenses related to the optimization of our global delivery model based on our nearshoring strategy.

In calculating Adjusted Net Profit and Adjusted Diluted EPS, we exclude components unrelated to the direct management of our services. For the periods presented, the adjustments have been made for (i) acquisition-related expenses (including amortization of intangible assets from acquired companies, and present value adjustments to accounts payable for business acquired); (ii) business restructuring expenses related to the optimization of our global delivery model based on our nearshoring strategy; (iii) share-based compensation expenses; and (iv) the tax effects of non-IFRS adjustments.

Cautionary Statement on Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact that may be deemed forward-looking statements include, but are not limited to: the statements under Business Outlook, including expectations relating to revenues and other financial or business metrics; statements regarding relationships with clients; and any other statements of expectations or beliefs. The words “believe”, “will”, “may”, “may have,” "would,” "estimate,” "continues,” "anticipates,” “intends,” “plans,” “expects,” “budget,” "scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from our expectations. These

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statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such statements in this press release. Such risk factors include, but are not limited to, those relating to: the ongoing war in Ukraine and the economic sanctions imposed by Western economies on Russia, as well as the conflict between Israel and Hamas, and their impact on our business and industry; the impact of competition on our business; uncertainty regarding the demand for and market utilization of our services; our ability to maintain or acquire new client relationships; general business and economic conditions; our ability to successfully integrate the recent-acquired business; the impact of pandemics, epidemics and disease outbreak; and our ability to successfully implement our growth strategy and strategic plans. Additional information about these and other risks and uncertainties is contained in the Risk Factors section of CI&T's annual report on Form 20-F. Additional information will be made available in our Annual Reports on Form 20-F, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we assume no obligation to and do not intend to update these forward-looking statements or to update the reasons why actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Contacts:

Investor Relations Contact:

Eduardo Galvão

investors@ciandt.com

Media Relations Contact:

Zella Panossian

ciandt@illumepr.com

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Unaudited condensed consolidated statement of profit or loss

(In thousands of U.S. dollars)

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Unaudited condensed consolidated statement of financial position

(In thousands of U.S. dollars)

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Unaudited condensed consolidated statement of cash flows

(In thousands of U.S. dollars)

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Net Revenue Distribution

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Reconciliation of various income statement amounts from IFRS to non-IFRS measures

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CI&T

Inc.

Unaudited condensed consolidated interim

financial statements 

March 31, 2025

Content

CI&T Inc. Unaudited condensed consolidated statement of financial position as of March 31, 2025 and December 31, 2024 (In thousands of United States dollars – US$)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

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CI&T Inc. Unaudited condensed consolidated statement of profit or loss For the three months ended March 31, 2025 and 2024  (In thousands of United States dollars – US$, except basic and diluted result per share)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

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CI&T Inc. Unaudited condensed consolidated statement of other comprehensive income For the three months ended March 31, 2025 and 2024  (In thousands of United States dollars – US$)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

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CI&T Inc. Unaudited condensed consolidated statement of changes in equity For the three months ended March 31, 2025 and 2024  (In thousands of United States dollars – US$)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

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CI&T Inc. Unaudited condensed consolidated statement of cash flows For the three months ended March 31, 2025 and 2024  (In thousands of United States dollars – US$)

The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

CI&T Inc. (“CI&T” or “Parent Company”) is a publicly held company incorporated in the Cayman Islands in June 2021, headquartered at Estrada Giuseppina Vianelli Di Napoli, 1455, Polo II de Alta Tecnologia, in the City of Campinas, State of São Paulo, Brazil. As a holding company, it is mainly engaged in the investment, as a partner or shareholder, in other companies, consortia or joint ventures in Brazil, in the United States of America, and other countries. The Company’s subsidiaries are mainly engaged in the development of customizable software through the implementation of software solutions, including machine learning, artificial intelligence, analytics, cloud migration and mobility technologies.

These unaudited interim condensed consolidated financial statements comprise the Company and its subsidiaries (collectively referred to as the “Group”).

Since November 10, 2021, CI&T has been a publicly-held company registered with the US Securities and Exchange Commission (“SEC”) and its shares are traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “CINT”.

The table below outlines the information on the Parent Company’s direct and indirect subsidiaries:

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

These unaudited condensed consolidated interim financial statements for the three months ended March 31, 2025 have been prepared in accordance with IAS 34 Interim Financial Reporting, and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended 31 December 2024 ('last annual financial statements'). They do not include all of the information required for a complete set of financial statements prepared in accordance with IFRS Accounting Standards. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the last annual financial statements.

These unaudited condensed consolidated interim financial statements were authorized for issue by the Parent Company's Board of Directors on May 13, 2025.

The unaudited condensed consolidated interim financial statements of the Parent Company, along with those of its subsidiaries, are measured using the currency of the primary economic environment in which each entity operates, referred to as the "functional currency." For the Parent Company, this functional currency is the Brazilian Reais (R$). For presentation purposes, these unaudited condensed consolidated interim financial statements are expressed in United States dollars (US$).

In preparing these interim financial statements, management has made judgements and estimates about the future, that affect the application of the Group's accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

Measurement of fair values

The Group measures fair value for certain financial and non-financial assets and liabilities, following a defined control framework. When available, observable market data is used, and third-party valuations are assessed to ensure compliance with accounting standards and appropriate classification within the fair value hierarchy. Fair values are categorized into Level 1 (quoted prices in active markets) and Level 2 (observable inputs other than quoted prices). Level 3, which involves unobservable inputs, is not applicable to the Group. Any reclassifications between levels are recognized at the end of the reporting period in which they occur.

The Group did not have any changes to its accounting policies from those applied in the consolidated financial statements as at and for the year ended December 31, 2024.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The balances of accounts receivable and contract assets are presented as follows:

The balance of accounts receivable by maturity date is as follows:

By April 30, 2025, of the total amount overdue for up to 60 days, the amount of US$ 2,812 has already been received.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The rollforward of the allowance for expected losses is as follows:

As of March 31, 2025, the average expected credit loss rate under the method applied by the Group was 0.02% (0.02% as of December 31, 2024), except for certain customers with impairment ranging from 90% and 100%, resulting in an expected credit loss amounting to US$ 2,728. As of December 31, 2024, the exception pertains to certain customers with impairment ranging from 80% to 100%, resulting in a total impairment amount of US$ 2,609.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The rollforward in the balances are as follows:

The Group does not have property or equipment pledged as collateral.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The rollforward of intangible assets is as follows:

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The rollfoward of loans and borrowings is set forth below:

The loans and borrowings are not secured by property and equipment or accounts receivable.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The Group has restrictive clauses covenants in some of its loans and financing agreements, as disclosed in the annual financial statements of December 31, 2024, and summarized below:

The early maturity of the loans could be also caused by disposal, merger, incorporation, spin-off, or any other corporate reorganization process that implies a change in the shareholding controls, without prior consent from the creditor.

The Group holds derivative financial instruments to hedge its interest rate risk exposure.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The rollforward of the derivatives is as follows:

As of March 31, 2025, the total issued share capital is US$ 7 with a par value of US$ 0.00005. The rollforward of share capital is as follows:

On December 19, 2024, the Board of Directors approved the renewal of the share repurchase program, pursuant to which the Parent Company may repurchase up to five million of its outstanding class A common shares. During the first quarter of 2025, it was repurchased 1,082,768 Class A common shares under this program at a total amount of US$ 7,324.

According to the Parent Company's Articles of Association, the outstanding Class B common shares are convertible at any time at the option of the holder. During the first quarter of 2025, 1,207,114 Class B common shares were converted into Class A common shares.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The Group primarily generates revenue through the provision of services summarized by nature in the table below:

The following table sets forth the revenue by industry vertical for the periods indicated:

The table below summarizes revenues by country:

Revenue by country was determined based on the country in which the sale occurred.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The following table sets forth revenue contributed by the top client, and top ten clients for the periods indicated:

The revenue generated from a single customer represents 10.6% of the Group’s total revenues as of March 31, 2025 (6% as of March 31, 2024).

Information on the nature of expenses recognized in the unaudited condensed consolidated interim statement of profit or loss is presented below:

(a) In 2024, the costs primarily consist of business restructuring expenses related to our subsidiaries in the United Kingdom, which amounted to US$ 1,156.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

Income tax expense recognized in profit or loss for the periods are shown as follows:

16.1 Effective tax rate reconciliation

The reconciliation of the effective tax rate with the average nominal tax rate is as follows:

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

16.2 Movement in deferred tax balances

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The following table presents the carrying amounts and fair values of financial assets and financial liabilities, along with their respective levels in the fair value hierarchy. It excludes fair value information for financial assets and financial liabilities that are not measured at fair value, provided the carrying amount is a reasonable approximation of fair value.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

The Group has no additional post-employment obligation, as well as no other long-term benefits, such as premium leave and other severance benefits. The Group also does not offer other benefits in connection with the dismissal of its Senior Management’s members. These expenses are recognized in general and administrative expenses.

Operating segments are defined based on business activities that reflect how the Chief Operating Decision Maker (“CODM”) reviews financial information within the decision-making process.

The Group's CODM is the Group's Board of Director. The CODM oversees operational decisions related to resource allocation and performance evaluation. The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation and evaluating performance based on a single operating segment.

The business activities carried on by the Group entities, and their transactions are not highly cyclical or seasonal in nature.

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CI&T Inc. Notes to the unaudited condensed consolidated interim financial statements March 31, 2025 (In thousands of United States dollars – US$, unless otherwise indicated)

 

A number of new accounting standards and amendments to accounting standards are effective for annual reporting periods beginning after January 1, 2025 and earlier application is permitted. However, the Group has not early adopted any of the forthcoming new or amended accounting standards in preparing these unaudited condensed consolidated interim financial statements.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 13, 2025