Persistent Systems Achieves $406.2 Million in Revenue
Persistent Systems has announced its revenue figures for the second quarter of fiscal year 2026, reporting an impressive total of $406.2 million. This represents a 17.6% year-over-year growth and is indicative of the company's strong performance in an ever-changing market landscape.
Financial Performance Highlights
In addition to the remarkable revenue achievement, Persistent recorded a 16.3% EBIT margin and a sequential growth of 4.2%. These figures demonstrate the company's ability to not only sustain growth but also enhance its operational efficiency, leading to improved profit margins.
Client Trust and Innovative Strategies
Sandeep Kalra, the Chief Executive Officer of Persistent, expressed his satisfaction with the company's performance, noting it marks their 22nd consecutive quarter of revenue growth. He attributed this success to the trust placed in the company by its clients, emphasizing Persistent's commitment to delivering impactful transformation through execution excellence.
Driving AI Strategy and Transformation
Persistent's strategy revolves around a strong platform-led approach powered by deep domain knowledge, strategic partnerships, and differentiated intellectual properties (IPs). This integrated model supports significant advancements in artificial intelligence (AI), enabling clients to accelerate innovation and modernization efforts effectively.
Continued Recognition and Awards
The company's momentum has not gone unnoticed in the industry. Persistent was honored with the 'Growth Honor of the Year' by Everest Group, reinforcing its reputation as a leader in talent readiness and cloud services.
Recent Major Wins and Developments
In the second quarter of FY26, Persistent secured a remarkable order booking totaling $609.2 million in Total Contract Value (TCV) and $447.9 million in Annual Contract Value (ACV). Some of the notable client wins include:
Innovations in Software and Technology
- Establishing strategic collaborations to build AI infrastructure platforms with a global technology provider.
- Leading comprehensive R&D initiatives for endpoint security products with a major cybersecurity firm.
- Setting up an offshore R&D center to develop critical grid technology for a prominent energy technology company.
Banking and Financial Services Enhancements
- Transforming tax and accounting software to elevate customer experience for a global financial technology platform.
- Innovating IT processes for a financial services leader, enabling tax-advantaged savings for clients.
- Utilizing GenAI to enhance operational efficiencies and relationship management for a wealth management company.
Healthcare Sector Improvements
- Modernizing digital engagement to enhance interaction with commercial healthcare clients for a leading healthcare organization.
- Consolidating imaging applications to improve experiences for patients and providers within a crucial healthcare nonprofit.
- Unifying order management systems for diagnostic testing and precision medicine for a global leader.
Leadership Changes of Note
In September 2025, Jaideep Dhok was appointed Chief Operating Officer of Technology at Persistent. He brings valuable experience from his previous role as Senior Vice President for Banking, Financial Services, and Insurance, where he oversaw significant projects that shaped the company’s strategic direction.
Recognition in the Industry
- Persistent was the recipient of multiple ISG CX Star Performer Awards, highlighting excellence across several categories.
- The company was recognized for its achievements in AI at the National AI Awards 2025 by a leading industry body.
- The firm also secured a spot as a leader in the Everest Group's assessment for next-generation cloud services.
Commitment to Sustainability
Persistent’s commitment extends beyond business success. The company has achieved carbon neutrality and has been acknowledged as one of America’s Greatest Workplaces for Inclusion & Diversity in 2025. Its substantial growth in brand value showcases its standing in the sector.
About Persistent Systems
Persistent Systems delivers AI-led, platform-driven Digital Engineering and Enterprise Modernization to companies across various sectors. With over 26,000 employees in 18 countries, it offers services in software engineering, product development, and cloud computing, among others. Persistent is part of key stock indices and is recognized for its commitment to sustainable practices, helping align operations with universal principles in human rights and environmental responsibility.
Frequently Asked Questions
What is the revenue reported by Persistent Systems for Q2 FY26?
The reported revenue is $406.2 million, reflecting a 17.6% year-over-year growth.
Who is the CEO of Persistent Systems?
Sandeep Kalra serves as the Chief Executive Officer and Executive Director of Persistent Systems.
What recent honors has Persistent Systems received?
Persistent was awarded the 'Growth Honor of the Year' by Everest Group and multiple ISG CX Star Performer Awards.
What sectors does Persistent operate in?
Persistent Systems operates across various sectors, including technology, banking, financial services, and healthcare.
How does Persistent Systems approach AI integration?
Persistent utilizes a platform-led approach combined with strategic partnerships to drive AI innovation and enhance operational productivity.
