secwatch.observer — SEC 8-K summary
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Issuer:     Kyndryl Holdings, Inc. (KD)
CIK:        0001867072
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001558370-22-011898
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kyndryl Q1 FY2023 revenue $4.3B, net loss $250M, reaffirms FY guidance with currency hit
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- Revenue $4.3B (-10% YoY; -3% constant currency); net loss $250M ($1.11 diluted EPS loss); adjusted pretax loss $50M.
- Adjusted EBITDA $491M vs $749M pro forma prior year; adjusted free cash flow ($32M) and operating cash flow $104M.
- Reaffirmed FY2023 outlook: revenue $16.3-16.5B (includes $1.2B negative currency impact), adjusted EBITDA margin 13-14%, adjusted pretax margin 0-1%.
- Alliances initiative: signed $235M hyperscaler contracts; 21,800 certifications (+36% in six months); advisory & implementation signings +27% YoY constant currency.
- Advanced Delivery saved $100M annualized; Accounts initiative delivered $52M annualized benefits; transaction costs $103M from spin-off.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867072/000155837022011898/0001558370-22-011898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867072/000155837022011898/kd-20220803x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-011898

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