Company research
Thoughtworks Holding, Inc.
CIK 1866550Updated Sep 27, 2026
Name history
Turing Holding Corp. · through Sep 16, 2021
Filing activity
Latest filing
50 filings on record · 15-12G, 4, SCHEDULE 13G, SC 13E3/A, S-8 POS, 8-K.
Financials
FY 2023 · USDSource
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balance sheet · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 1,327,236,000Source | 1,461,850,000Source | 1,484,150,000Source | 1,475,223,000Source |
| Property, Plant and Equipment, NetUSD | 26,046,000Source | 38,798,000Source | 34,500,000Source | 26,347,000Source |
| GoodwillUSD | 424,565,000Source | 405,017,000Source | 346,719,000Source | 318,151,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 387,186,000Source | 397,047,000Source | 398,867,000Source | 402,055,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 100,305,000Source | 194,294,000Source | 368,209,000Source | 490,841,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 167,942,000Source | 201,695,000Source | 145,874,000Source | 113,183,000Source |
| Assets, CurrentUSD | 428,358,000Source | 556,690,000Source | 678,939,000Source | 711,766,000Source |
| Operating Lease, Right-of-Use AssetUSD | 41,771,000Source | 43,123,000Source | — | — |
| Other Assets, NoncurrentUSD | 19,310,000Source | 21,175,000Source | 25,125,000Source | 16,904,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 554,106,000Source | 683,628,000Source | 775,659,000Source | 667,711,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | — |
| Common Stock, Value, IssuedUSD | 373,000Source | 366,000Source | 356,000Source | — |
| Additional Paid in CapitalUSD | 1,627,491,000Source | 1,565,514,000Source | 1,390,630,000Source | 381,172,000Source |
| Retained Earnings (Accumulated Deficit)USD | -193,580,000Source | -123,514,000Source | -42,208,000Source | 106,458,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -38,166,000Source | -39,210,000Source | -10,863,000Source | -1,589,000Source |
| Stockholders' Equity Attributable to ParentUSD | 773,130,000Source | 778,222,000Source | 708,491,000Source | 484,712,000Source |
| Liabilities and EquityUSD | 1,327,236,000Source | 1,461,850,000Source | 1,484,150,000Source | 1,475,223,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 159,280,000Source | 179,570,000Source | 180,530,000Source | 118,157,000Source |
| Operating Lease, Liability, CurrentUSD | 15,301,000Source | 15,994,000Source | — | — |
| Accounts Payable, CurrentUSD | 2,767,000Source | 5,248,000Source | 4,773,000Source | 4,349,000Source |
| Operating Lease, Liability, NoncurrentUSD | 29,791,000Source | 29,885,000Source | — | — |
| Deferred Income Tax Liabilities, NetUSD | 54,907,000Source | 62,555,000Source | 78,944,000Source | 98,310,000Source |
| Other Liabilities, NoncurrentUSD | 24,093,000Source | 19,762,000Source | 18,805,000Source | 16,052,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | — | 30,227,000Source | 51,693,000Source | 29,749,000Source |
| Deferred Tax Liabilities, NetUSD | 52,296,000Source | 55,099,000Source | 66,702,000Source | 94,018,000Source |
| Long-term Debt, Excluding Current Maturities | — | — | — | — |
| Long-term Debt, Current MaturitiesUSD | 7,150,000Source | 7,150,000Source | 7,150,000Source | 4,565,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 286,035,000Source | 391,856,000Source | 497,380,000Source | 435,192,000Source |
cash flow · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 36,450,000Source | 34,446,000Source | 29,528,000Source | 26,528,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 65,026,000Source | 250,505,000Source | 157,357,000Source | 1,667,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -32,661,000Source | 61,877,000Source | 32,139,000Source | -3,977,000Source |
| Increase (Decrease) in Accounts PayableUSD | -2,597,000Source | 144,000Source | 309,000Source | -700,000Source |
| Deferred Income Tax Expense (Benefit)USD | -8,351,000Source | -19,425,000Source | -28,961,000Source | 2,143,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 49,064,000Source | 89,389,000Source | 118,304,000Source | 125,296,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 15,989,000Source | 70,011,000Source | 44,759,000Source | 0Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -24,591,000Source | -93,945,000Source | -70,309,000Source | -14,993,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 8,953,000Source | 24,505,000Source | 26,068,000Source | 15,125,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 5,621,000Source | 45,643,000Source | — | — |
| Payments for Repurchase of Common StockUSD | — | — | 0Source | 0Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -120,217,000Source | -175,125,000Source | -140,630,000Source | 318,197,000Source |
| Dividends paid | — | — | — | — |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | 85,000Source | 15,000Source | -105,000Source | -223,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -93,904,000Source | -199,378,000Source | -97,257,000Source | 435,043,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 101,660,000Source | 195,564,000Source | 394,942,000Source | 492,199,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 24,824,000Source | 20,984,000Source | 23,611,000Source | 23,861,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 1,840,000Source | -19,697,000Source | -4,622,000Source | 6,543,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 65,026,000Source | 249,915,000Source | 157,900,000Source | 1,700,000Source |
| Amortization of Intangible AssetsUSD | 14,500,000Source | 13,100,000Source | 12,000,000Source | 10,500,000Source |
| DepreciationUSD | 21,900,000Source | 21,300,000Source | 17,500,000Source | 16,000,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | 3,875,000Source | -5,405,000Source | -5,465,000Source | 7,190,000Source |
| Foreign Currency Transaction Gain (Loss), UnrealizedUSD | 2,271,000Source | -10,106,000Source | -5,024,000Source | 5,351,000Source |
| GoodwillUSD | 424,565,000Source | 405,017,000Source | 346,719,000Source | 318,151,000Source |
| Goodwill, Impairment LossUSD | 0Source | — | — | — |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)USD | 0Source | — | — | — |
| Income Tax Expense (Benefit)USD | 25,531,000Source | 30,825,000Source | 10,148,000Source | 23,164,000Source |
| Net Income (Loss) Attributable to ParentUSD | -68,661,000Source | -105,393,000Source | -23,623,000Source | 79,283,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -68,661,000Source | -105,393,000Source | -83,265,000Source | 73,112,000Source |
| Nonoperating Income (Expense)USD | -22,818,000Source | -27,256,000Source | -32,592,000Source | -18,392,000Source |
| Other Nonoperating Income (Expense)USD | -455,000Source | 610,000Source | -1,671,000Source | 185,000Source |
| Proceeds from Issuance of Common StockUSD | 0Source | 0Source | 1,873,000Source | 0Source |
income statement · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Total RevenueUSD | 1,126,816,000Source | 1,296,238,000Source | 1,069,945,000Source | 803,375,000Source |
| Cost of Goods and Services Sold | — | — | — | — |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Selling, General and Administrative ExpenseUSD | 331,830,000Source | 372,761,000Source | 343,786,000Source | 189,497,000Source |
| Operating Income (Loss)USD | -20,312,000Source | -47,312,000Source | 19,117,000Source | 120,839,000Source |
| Other Nonoperating Income (Expense)USD | -455,000Source | 610,000Source | -1,671,000Source | 185,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -43,130,000Source | -74,568,000Source | -13,475,000Source | 102,447,000Source |
| Income Tax Expense (Benefit)USD | 25,531,000Source | 30,825,000Source | 10,148,000Source | 23,164,000Source |
| Net Income (Loss) Attributable to ParentUSD | -68,661,000Source | -105,393,000Source | -23,623,000Source | 79,283,000Source |
| Earnings Per Share, BasicUSD per share | -0.22Source | -0.34Source | -0.33Source | 0.26Source |
| Earnings Per Share, DilutedUSD per share | -0.22Source | -0.34Source | -0.33Source | 0.26Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 317,718,424Source | 310,911,526Source | 254,271,997Source | 278,225,009Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 317,718,424Source | 310,911,526Source | 254,271,997Source | 284,582,536Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 14,500,000Source | 13,100,000Source | 12,000,000Source | 10,500,000Source |
| Costs and ExpensesUSD | 1,147,128,000Source | 1,343,550,000Source | 1,050,828,000Source | 682,536,000Source |
| Current Income Tax Expense (Benefit)USD | 33,882,000Source | 50,250,000Source | 39,109,000Source | 21,021,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 23,554,000Source | 20,484,000Source | 17,599,000Source | 17,479,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | 3,875,000Source | -5,405,000Source | -5,465,000Source | 7,190,000Source |
| Goodwill, Impairment LossUSD | 0Source | — | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 49,000Source | -48,578,000Source | -36,767,000Source | 45,679,000Source |
| Interest ExpenseUSD | 26,238,000Source | 22,461,000Source | 25,456,000Source | 25,767,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -68,661,000Source | -105,393,000Source | -83,265,000Source | 73,112,000Source |
| Nonoperating Income (Expense)USD | -22,818,000Source | -27,256,000Source | -32,592,000Source | -18,392,000Source |
| Preferred Stock Dividends and Other AdjustmentsUSD | 0Source | 0Source | 59,642,000Source | 0Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | — | 0Source | 0Source | 6,171,000Source |