Persistent Announces $406.2M Revenue in Q2 FY26 with 17.6% Y-o-Y Growth

Reports 16.3% EBIT margin, 43.7% Y-o-Y growth

SANTA CLARA, Calif. and PUNE, India, Oct. 14, 2025 /PRNewswire/ — Persistent Systems (BSE: 533179) and (NSE: PERSISTENT) today announced the Company’s audited financial results for the quarter ended September 30, 2025, as approved by the Board of Directors.

Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:
“We are pleased to report our 22^nd sequential quarter of revenue growth, up 4.2% Q-o-Q and 17.6% Y-o-Y, with operating margin improving to 16.3%. Driven by the continued trust of our clients, this performance reflects our commitment to impactful transformation and execution excellence.

Our AI strategy builds on a strong platform-led foundation and is powered by deep domain knowledge, differentiated IPs, accelerators and strategic partnerships. This integrated approach brings together enterprise readiness for AI transformation, engineering hyper-productivity and business hyper-productivity, enabling clients to scale innovation, modernize their core and achieve measurable impact faster.

Our sustained momentum was recognized by Everest Group with the ‘Growth Honor of the Year,’ and our talent excellence reaffirmed by our placement as a Leader in the Talent Readiness for Next-generation Cloud Services PEAK Matrix® Assessment 2025, underscoring the strength of our capabilities and commitment to long-term stakeholder value.”

Second Quarter FY26 Client Wins and Outcomes

The order booking for the quarter ended on September 30, 2025, was $609.2 million in Total Contract Value (TCV) and $447.9 million in Annual Contract Value (ACV).

Some of the key wins for the quarter include:

Software, Hi-Tech & Emerging Industries

• Accelerating strategic pivot through 360° collaboration and go-to-market partnership to build and scale AI infrastructure platforms using SASVA™ for a fast-growing global infrastructure provider
• Driving end-to-end R&D for a portfolio of mature endpoint security products and enabling customer migration to next-generation products for a global cybersecurity leader
• Developing and maintaining critical grid technology platform by setting up an offshore R&D center for one of the world’s largest energy technology companies

Banking, Financial Services & Insurance

• Enhancing customer experience and driving business growth by transforming the tax and accounting software for a global financial technology platform
• Transforming IT and business processes across product, engineering and operations for a leading global financial services company, enabling tax-advantaged savings
• Leveraging GenAI to reimagine business operations and relationship management for improved customer experience for one of the leading global wealth management companies

Healthcare & Life Sciences

• Driving deeper engagement with commercial healthcare clients through modernization of digital presence for one of the world’s largest healthcare companies
• Improving patient, radiologist, and caregiver experience through consolidation of imaging applications and strengthened data integrity for a leading US-based nonprofit healthcare organization
• Unifying order management systems across core diagnostic products for a global leader in molecular diagnostic testing and precision medicine

Leadership Changes

• Jaideep Dhok elevated as Chief Operating Officer – Technology, effective August 12, 2025. He previously served as Senior Vice President – Banking, Financial Services and Insurance at Persistent. In his new role, Jaideep oversees Delivery Excellence, Talent Acquisition/Talent Management, Learning and Development as well as Alliances and Partnerships, while continuing to lead the APAC region and contributing to the Company’s AI strategy.

Other News in the Quarter

• Persistent won ISG CX Star Performer Awards in multiple categories
• Persistent awarded ‘Growth Honor of the Year’ at 2025 Everest Group Elevate Honors
• Persistent was awarded for AI excellence at the National AI Awards 2025 by the Confederation of Indian Industry (CII)
• Persistent named a Leader in the Everest Group Talent Readiness for Next-generation Cloud Services PEAK Matrix® Assessment 2025
• Persistent recognized as one of America’s Greatest Workplaces in Tech 2025 by Newsweek and Plant-A Insights Group
• Persistent won three top honors at the People Matters InfiniT Awards 2025
• Persistent won a Brandon Hall Gold award for its Architect Competence Development Program under the ‘Best Competency Management Strategy’ category
• Persistent launches its first XT Studio to scale AI-powered, immersive experiences

About Persistent

Persistent Systems (BSE: 533179 and NSE: PERSISTENT) is a global services and solutions company delivering AI-led, platform-driven Digital Engineering and Enterprise Modernization to businesses across industries. With over 26,000 employees located in 18 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company is part of the MSCI India Index and is included in key indices of the National Stock Exchange of India, including the Nifty Midcap 50, Nifty IT, and Nifty MidCap Liquid 15, as well as several on the BSE such as the S&P BSE 100 and S&P BSE SENSEX Next 50. Persistent is also a constituent of the Dow Jones Sustainability World Index. The Company has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. Persistent has also been named one of America’s Greatest Workplaces for Inclusion & Diversity 2025 by Newsweek and Plant A Insights Group. As a participant of the United Nations Global Compact, the Company is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 468% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in ‘Brand Finance India 100’ 2025 Report.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs

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SOURCE Persistent Systems