---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-010051"
form_type: "8-K"
ticker: "KD"
cik: "0001867072"
company_name: "Kyndryl Holdings, Inc."
filed_at: "2023-05-16T23:59:59+00:00"
generated_at: "2026-06-15T00:06:11.001250+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Kyndryl reports Q4 net loss $737M, FY23 revenue $17.0B; guides FY24 margin expansion

## Summary
- Q4 revenue $4.3B (-4% YoY, +1% cc); net loss $737M vs $229M loss prior year.
- FY23 revenue $17.0B (-7% YoY, flat cc); net loss $1.4B vs $2.0B loss prior year.
- Exceeded first-year three-A targets: Alliances $1.2B signings, Advanced Delivery $275M savings, Accounts $210M benefits.
- FY24 outlook: rev (6-8)% decline cc to $16.0-16.4B; adj EBITDA margin 12-13% vs 11.6% FY23.
- Workforce rebalancing: $55M charge in Q4, expects $95M more in FY24; savings $150M FY24, $200M FY25.

## SEC filing metadata
- accession: 0001558370-23-010051
- form_type: 8-K
- ticker: KD
- cik: 0001867072
- company_name: Kyndryl Holdings, Inc.
- filed_at: 2023-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/0001558370-23-010051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/kd-20230516x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-010051
- JSON: https://secwatch.observer/filing/0001558370-23-010051.json
- Plain text: https://secwatch.observer/filing/0001558370-23-010051.txt

## Key facts
- Earnings Releases
  Kyndryl Holdings, Inc. reported fiscal year ended March 31, 2023 results: revenue $17.0 billion, net income net loss of $1.4 billion.
  - Period: fiscal year ended March 31, 2023
  - Revenue: $17.0 billion
  - Net income: net loss of $1.4 billion
  - Result: reported results
  source text: For the fiscal year ended March 31, 2023, Kyndryl reported revenues of $17.0 billion, a decline of 7%, or unchanged in constant currency, compared to the year ended March 31, 2022. The Company reported a pretax loss of $851 million in fiscal year 2023, which included transaction-related costs, workforce rebalancing charges and lease-exit costs, as discussed below. The Company had a net loss of $1.4 billion and net margin of (8.1%) for the year, compared to a net loss of $2.0 billion in the year ended March 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/0001558370-23-010051-index.htm
- Earnings Releases
  Kyndryl Holdings, Inc. reported fiscal year 2024 (April 2023 to March 2024) results: revenue $16.0 to $16.4 billion. Guidance initiated.
  - Period: fiscal year 2024 (April 2023 to March 2024)
  - Revenue: $16.0 to $16.4 billion
  - Guidance: initiated
  - Result: guidance update
  source text: Kyndryl is providing the following outlook for its fiscal year 2024, which runs from April 2023 to March 2024: ● Revenue growth of (6%) to (8%) in constant currency compared to revenue of $17.0 billion in fiscal 2023, with most of the decline due to accelerated actions by Kyndryl to reduce certain low-margin revenue streams. Based on recent exchange rates, the Company’s outlook implies fiscal 2024 revenue of $16.0 to $16.4 billion.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/0001558370-23-010051-index.htm
- Earnings Releases
  Kyndryl Holdings, Inc. reported quarter ended March 31, 2023 results: revenue $4.3 billion, net income net loss of $737 million, EPS $(3.24) per diluted share.
  - Period: quarter ended March 31, 2023
  - Revenue: $4.3 billion
  - Net income: net loss of $737 million
  - EPS: $(3.24) per diluted share
  - Result: reported results
  source text: For the fourth quarter, Kyndryl reported revenues of $4.3 billion, a year-over-year decline of 4% and a 1% increase in constant currency. The Company reported a pretax loss of $288 million and a net loss of $737 million, or $(3.24) per diluted share, in the quarter, compared to a net loss of $229 million in the prior-year period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/0001558370-23-010051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.