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Montréal, Quebec,
July 30, 2025
“In the third quarter, CGI delivered double-digit revenue growth fueled by our financial strength and strategic deployment of capital,” said François Boulanger, President and Chief Executive Officer. “Our team remains focused on proactively managing the fundamentals of our business to deepen our resilience and continued profitable growth. We remain a trusted transformation partner to clients across industries, helping them navigate the challenging business environment and deliver on their most complex business objectives.”
“CGI continued to see strong momentum in AI-related wins in Q3, demonstrating the depth of our expertise globally,” continued Boulanger. “On a day-to-day basis, our CGI Partners work jointly with clients to use AI to inform, accelerate and improve project delivery.”
- Revenue of $4.09 billion, up 11.4% year-over-year or 7.0% year-over-year in constant currency1;
- Earnings before income taxes of $551.6 million, down 7.1% year-over-year, for a margin1 of 13.5%;
- Adjusted earnings before interest and taxes1 of $666.1 million, up 10.5% year-over-year, for a margin1 of 16.3%;
- Net earnings of $408.6 million for a margin1 of 10.0%, and diluted EPS of $1.82, down 4.7% year-over-year;
- Adjusted net earnings1,2 of $470.1 million for a margin1 of 11.5%, and adjusted diluted EPS1,2 of $2.10, up 9.9% year-over-year;
- Cash provided by operating activities of $486.6 million, representing 11.9% of revenue1;
- Bookings1 of $4.15 billion, for a book-to-bill ratio1 of 101.4% or 106.7% on a trailing twelve-month basis; and
- Backlog1 of $30.58 billion or 2.0x annual revenue.
Note: All figures in Canadian dollars. Q3-F2025 MD&A, interim condensed consolidated financial statements and accompanying notes can be found at cgi.com/investors and have been filed with the Canadian Securities Administrators on SEDAR+ at www.sedarplus.ca and the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.
1 Constant currency revenue growth, adjusted earnings before interest and taxes, adjusted earnings before interest and taxes margin, adjusted net earnings, adjusted net earnings margin and adjusted diluted EPS are non-GAAP financial measures or ratios. Earnings before income taxes margin, net earnings margin, cash provided by operating activities as a percentage of revenue, bookings, book-to-bill ratio, and backlog are key performance measures. See “Non-GAAP and other key performance measures” section of this press release for more information, including quantitative reconciliations to the closest International Financial Reporting Standards (IFRS Accounting Standards) measure, as applicable. These are not standardized financial measures under IFRS Accounting Standards and might not be comparable to similar financial measures disclosed by other companies.
2 Q3-F2025 adjusted for $61.5 million of restructuring, acquisition and related integration costs, net of tax; Q3-F2024 adjusted for $0.1 million of restructuring, acquisition and related integration costs, net of tax.
