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How Conduent (CNDT) makes money

Conduent (CNDT) made $534M of revenue in the third quarter 2026 (Q3 2026), -12% from a year earlier. Commercial: brought in $308M (58%); Government: brought in $226M (42%).

Drawing the Sankey…

Conduent revenue by segment, Q3 2026Conduent revenue by segment, Q3 2026Commercial:$308MGovernment:$226M
Conduent: revenue by line, Q1 2025 to Q3 2026Conduent: revenue by line, Q1 2025 to Q3 2026Commercial:Government:Transportation:Commercial:: $308M latest$308MGovernment:: $226M latest$226MTransportation:: $0 latestQ1 2025Q3 2025Q1 2026Q2 2026Q3 2026
Government: went from 29% of revenue in Q1 2025 to 42% in Q3 2026, the largest shift in the mix.
Conduent revenue by quarterConduent revenue by quarter$751MQ1 2025$754MQ2 2025$767MQ3 2025$770MQ4 2025$723MQ1 2026$531MQ2 2026$534MQ3 2026
Conduent: where each dollar of revenue goesConduent: where each dollar of revenue goesIncome tax1¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Commercial:$308M57.7%-3%-16%
Government:$226M42.3%+5%-5%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$534M100.0%
Income tax$5.0M0.9%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$534M-12%
Q2 2026$531M-12%
Q1 2026$723M-4%
Q4 2025$770M-4%
Q3 2025$767M-5%
Q2 2025$754M-9%
Q1 2025$751M-18%

From Conduent's 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Conduent make money?

Conduent (CNDT) made $534M of revenue in the third quarter 2026 (Q3 2026), -12% from a year earlier. Commercial: brought in $308M (58%); Government: brought in $226M (42%).

What is Conduent's biggest business?

Commercial:: $308M in the third quarter 2026, 58% of revenue, -16% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.