CTSH · Earnings call · 2026Q3T · Full report

Backlog and Book-to-Bill

COGNIZANT TECHNOLOGY SOLUTIONS CORP · 2026-10-29 · Importance 31 · Surprise 32

Trailing 12-month bookings grew 4%, with book-to-bill of 1.3x, while the mix of new versus expanded business increased to 60%. New and expansion bookings were up 16% year-to-date, and medium-sized deals grew at a double-digit rate. Cognizant signed three deals with TCV above $100 million, and trailing 12-month TCV of large deals increased 9% year-over-year. Management said new bookings are translating to revenue faster as renewals decline and new business becomes a larger share of bookings.

Key facts

• Cognizant's trailing 12-month bookings increased 4%, and the mix of new versus expanded business grew over 10 percentage points year-over-year to 60%.
• Cognizant signed three Q3 2026 deals with TCV of more than $100 million each, and trailing 12-month TCV of large deals increased 9% year-over-year.
• New and expansion bookings were up 16% year-to-date.
• Trailing 12-month bookings grew 4% and represented a book-to-bill of 1.3x.
• Cognizant said Astreya contributed to one of the three large deals signed in Q3 2026.
• Cognizant's annual contract value decreased modestly on a trailing 12-month basis, reflecting longer contract terms.