Form 8-K

8-K — Kyndryl Holdings, Inc.

Accession: 0001104659-26-090725

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0001867072

SIC: 7373 (SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — kd-20260805x8k.htm (Primary)

EX-99.1 (kd-20260805xex99d1.htm)

GRAPHIC (kd-20260805xex99d1001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: kd-20260805x8k.htm · Sequence: 1

Kyndryl Holdings, Inc._August 5, 2026

0001867072false00018670722026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 5, 2026

Kyndryl Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-40853

86-1185492

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

One Vanderbilt Avenue, 15th Floor

New York, New York 10017

(Address of principal executive offices, and Zip Code)

855-596-3795

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 5, 2026, Kyndryl Holdings, Inc. (the “Company”) issued a press release announcing the results of the Company’s operations for the first fiscal quarter ended June 30, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Number

Description of Exhibit

99.1

Press Release, dated August 5, 2026 (Furnished herewith)

104

Cover Page Interactive Data File (embedded in the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 5, 2026

KYNDRYL HOLDINGS, INC.

By:

/s/ Harsh Chugh

Name: Harsh Chugh

Title: Interim Chief Financial Officer

EX-99.1

Filename: kd-20260805xex99d1.htm · Sequence: 2

Exhibit 99.1

KYNDRYL REPORTS FIRST QUARTER FISCAL 2027 RESULTS

● Revenues for the quarter ended June 30, 2026 total $3.6 billion, pretax loss is $69 million, and net loss is $55 million

● Adjusted EBITDA is $512 million, adjusted pretax loss is $37 million, and adjusted net loss is $26 million

● Actions to streamline operations resulted in $152 million of workforce rebalancing charges, which are included in reported and adjusted results

● Company reaffirms fiscal 2027 outlook for revenue, earnings and free cash flow

NEW YORK, August 5, 2026 – Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, today released financial results for the quarter ended June 30, 2026, the first quarter of its 2027 fiscal year.

“Our first quarter results reflected strong momentum in signings, supported by strength in Kyndryl Consult and hyperscalers, with an increasing demand for AI-led modernization solutions,” said Chairman and Chief Executive Officer Martin Schroeter. “We’re encouraged by the progress we’re making to improve business fundamentals and remain focused on driving consistent execution and delivering our fiscal 2027 and multi-year objectives.”

Results for the Fiscal First Quarter Ended June 30, 2026

For the first quarter, Kyndryl reported revenues of $3.6 billion, down 3% year-over-year on a reported basis and down 3% in constant currency. The Company reported a pretax loss of $69 million, compared to pretax income of $92 million in the prior-year period. Net loss was $55 million, or ($0.25) per diluted share, in the quarter, compared to net income of $56 million, or $0.23 per diluted share, in the prior-year period. The first quarter 2027 results include workforce rebalancing charges of $152 million. Cash used from operations was $310 million, compared to $124 million in the prior-year period, primarily due to timing of working capital, including higher software payments and lower billings and collections, partially offset by lower incentive compensation payments.

Adjusted pretax loss was $37 million, compared to adjusted pretax income of $128 million in the prior-year period. Adjusted net loss was $26 million, or ($0.12) per diluted share, compared to adjusted net income of $90 million, or $0.37 per diluted share, in the prior-year period. Adjusted EBITDA was $512 million compared to $647 million in the prior-year period. The first quarter 2027 results include workforce rebalancing charges of $152 million. Free cash flow was a use of $401 million in the quarter, compared to a use of $222 million in the prior year, consistent with drivers of cash used from operations as described above. See “Non-GAAP Metric Definitions and Reconciliations.”

Highlights

● Signings – In the trailing twelve months signings were $14.2 billion, including $3.9 billion signed in the first quarter, supported by strength in the United States segment. Kyndryl signed 40 customer contracts exceeding $50 million each in the last twelve months, of which 10 were signed in the first quarter.

● Kyndryl Consult revenue – In the first quarter, Kyndryl Consult revenues grew 10% year-over-year. Over the last twelve months, Kyndryl Consult revenues were $3.6 billion, a 14% increase year-over-year. Kyndryl Consult signings were $4.4 billion over the last twelve months, an 8% increase year-over-year.

● Hyperscaler-related revenue – In the first quarter, hyperscaler-related revenues of more than $530 million grew 34% year-over-year, exiting the quarter at an annualized revenue run-rate of more than $2.1 billion.

● AI-led modernization – During the quarter, Kyndryl expanded its AI capabilities to support AI-led modernization with the launch of Kyndryl AI Orchestration for Business and a patented agentic AI capability in Kyndryl Bridge. Kyndryl also released its People Readiness Report, which found that 57% of enterprises have embedded AI in core business processes, but only 32% have achieved their AI goals, underscoring the opportunity to help enterprises realize greater value from their AI investments.

● Actions to streamline operations – In the first quarter, Kyndryl incurred $152 million of charges related to workforce-rebalancing actions. The Company continues to expect approximately $200 million of charges in fiscal 2027. These workforce rebalancing efforts, once completed, are expected to result in annualized run-rate operating expense savings of approximately $400 to $500 million in the Company’s fiscal year 2028.

● Share repurchases – In the first quarter, the Company repurchased 5.0 million shares of its common stock at a cost of $64 million. Since the authorization of its share repurchase program in November 2024, the Company has bought back 19.3 million shares for $462 million, or 8% of its shares outstanding.

Reaffirms Fiscal Year 2027 Outlook

Kyndryl reaffirms its outlook for its fiscal 2027, which runs from April 2026 to March 2027:

● Adjusted pretax income of $600 to $700 million

o Consistent with our definition of adjusted pretax income since fiscal 2025, this includes workforce rebalancing charges

● Free cash flow of $400 to $500 million

● Constant-currency revenue flat to down 2%

See “Non-GAAP Metric Definitions and Reconciliations.”

Earnings Webcast

Kyndryl’s earnings call for the first fiscal quarter is scheduled to begin at 8:30 a.m. ET on August 5, 2026. The live webcast can be accessed by visiting investors.kyndryl.com on Kyndryl’s investor relations website. A slide presentation will be made available on Kyndryl’s investor relations website before the call on August 5, 2026. Following the event, a replay will be available via webcast for twelve months at investors.kyndryl.com.

About Kyndryl

Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world’s largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements concerning the Company’s plans, objectives, goals, beliefs, business strategies, future events, business condition, results of operations, financial position, business outlook and business trends and other non-historical statements, including without limitation the outlook and financial objectives in this press release (which does not assume any future acquisitions or divestitures), are forward-looking statements. Such forward-looking statements often contain words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “objectives,” “opportunity,” “plan,” “position,” “predict,” “project,” “should,” “seek,” “target,” “will,” “would” and other similar words or expressions or the negative thereof or other variations thereon. Forward-looking statements are based on the Company’s current assumptions and beliefs regarding future business and financial performance.

The Company’s actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others: failure to attract new customers, retain existing customers or sell services to customers; failure to meet growth and productivity objectives and maintain our capital allocation strategy; competition; impacts of relationships with critical suppliers and partners; failure to address and adapt to technological developments and trends; inability to attract and retain key personnel and other skilled employees; impact of economic, geopolitical, public health and other conditions; damage to the Company’s reputation and impact on the Company and our stock price resulting from negative publicity; inability to accurately estimate the cost of services and the timeline for completion of contracts; service delivery issues; the Company’s ability to successfully manage acquisitions and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities and higher debt levels; the Company’s ability to refinance maturing debt on favorable terms in a timely manner, or at all, and risks related to the Company’s access to capital and credit markets; failure of the Company’s intellectual property rights to prevent competitive offerings and the failure of the Company to obtain, retain and extend necessary licenses; the impairment of our goodwill or long-lived assets; risks relating to cybersecurity, data governance and privacy; risks relating to non-compliance with legal and regulatory requirements and changes in laws, regulations and policies in the U.S. and countries where the Company and its customers do business, including with respect to tariffs, taxes and other controls on imports or exports;

adverse effects from tax matters; risks related to legal and regulatory claims, suits, investigations, proceedings and other matters, and consequences relating thereto; the Company’s ability to remediate, and the timing and costs related to the remediation of, material weaknesses in internal control over financial reporting, as well as the Company’s ability to maintain effective controls in the future; the impact of changes in market liquidity conditions and customer credit risk on receivables; the Company’s pension plans; the impact of currency fluctuations; and risks related to the Company’s common stock and the securities market.

Additional risks and uncertainties include, among others, those risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026, as such factors may be updated from time to time in the Company’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In this release, certain amounts may not add due to the use of rounded numbers; percentages presented are calculated based on the underlying amounts. Forecasted amounts are based on currency exchange rates as of July 2026.

Non-GAAP Financial Measures

In an effort to provide investors with additional information regarding its results, the Company has provided certain metrics that are not calculated based on generally accepted accounting principles (GAAP), such as constant-currency results, adjusted EBITDA, adjusted pretax income (loss), adjusted net income (loss), adjusted EPS, adjusted EBITDA margin, adjusted pretax margin, adjusted net margin, net debt and free cash flow. Such non-GAAP metrics are intended to supplement GAAP metrics, but not to replace them. The Company’s non-GAAP metrics may not be comparable to similarly titled metrics used by other companies. Definitions and additional information about our calculation of non-GAAP metrics and reconciliations of non-GAAP metrics for historical periods to GAAP metrics are included in the tables in this release.

A reconciliation of forward-looking non-GAAP financial information is not included in this release because the Company is unable to predict with reasonable certainty some individual components of such reconciliation without unreasonable effort. These items are uncertain, depend on various factors and could have a material impact on future results computed in accordance with GAAP.

Investor Contact:

investors@kyndryl.com

Media Contact:

press@kyndryl.com

Table 1

CONSOLIDATED INCOME STATEMENT

(in millions, except per share amounts)

Three Months Ended June 30,

2026

2025

Revenues

3,618

3,743

Cost of services

2,842

2,947

Selling, general and administrative expenses

668

646

Workforce rebalancing charges

152

Transaction-related costs (benefits)

(38)

—

Impairment expense

—

Interest expense

Other expense (income)

(10)

Total costs and expenses

3,687

3,651

Income (loss) before income taxes

(69)

Provision for income taxes

(14)

Net income (loss)

(55)

Earnings (loss) per share data

Basic earnings (loss) per share

(0.25)

0.24

Diluted earnings (loss) per share

(0.25)

0.23

Weighted-average basic shares outstanding

220.6

230.2

Weighted-average diluted shares outstanding

220.6

239.1

Table 2

SEGMENT RESULTS

AND SELECTED BALANCE SHEET INFORMATION

(dollars in millions)

Three Months Ended June 30,

Year-over-Year Growth

Constant

Segment Results

2026

2025

Reported

Currency

Revenue

United States

954

911

Japan

534

578

(8%)

Principal Markets

1,262

1,356

(7%)

(8%)

Strategic Markets

868

898

(3%)

(8%)

Total revenue

3,618

3,743

(3%)

Adjusted EBITDA

United States

220

196

Japan

109

115

Principal Markets

151

197

Strategic Markets

163

Corporate and other

(30)

(26)

Total adjusted EBITDA

512

647

June 30,

March 31,

Balance Sheet Data

2026

Cash and equivalents

2,104

2,623

Debt (short-term and long-term)

4,070

4,089

Table 3

CONSOLIDATED STATEMENT OF CASH FLOWS

(dollars in millions)

Three Months Ended June 30,

2026

2025

Cash flows from operating activities:

Net income (loss)

(55)

Adjustments to reconcile net income to cash provided by operating activities:

Depreciation and amortization

Depreciation of property, equipment and capitalized software

183

191

Depreciation of right-of-use assets

Amortization of transition costs and prepaid software

331

308

Amortization of capitalized contract costs

106

Amortization of acquisition-related intangible assets

Stock-based compensation

Deferred taxes

(50)

(10)

Net (gain) loss on asset sales and other

—

Change in operating assets and liabilities:

Right-of-use assets and liabilities (excluding depreciation)

(81)

(88)

Workforce rebalancing liabilities

132

Current accounts receivable

114

Lease and other receivables

(51)

(67)

Accounts payable

(320)

(269)

Taxes

(32)

Deferred transition costs and prepaid software (excluding amortization)1

(246)

(1,259)

Capitalized contract costs (excluding amortization)

(108)

(122)

Other assets and other liabilities1

(228)

781

Net cash provided by (used in) operating activities

(310)

(124)

Cash flows from investing activities:

Capital expenditures

(149)

(143)

Proceeds from disposition of property and equipment

Acquisitions and divestitures, net of cash acquired

Other investing activities, net

Net cash used in investing activities

(49)

(74)

Cash flows from financing activities:

Debt repayments

(52)

(36)

Common stock repurchases

(64)

(62)

Common stock repurchases for tax withholdings

(13)

(67)

Other financing activities, net

(23)

(5)

Net cash used in financing activities

(152)

(170)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(4)

Net change in cash, cash equivalents and restricted cash

(515)

(323)

Cash, cash equivalents and restricted cash at beginning of period

2,626

1,789

Cash, cash equivalents and restricted cash at end of period

2,111

1,466

Supplemental data

Income taxes paid, net of refunds received

Interest paid on debt

1 Includes $925 million non-cash offsetting increases in deferred costs and other liabilities related to an extended and amended multi-year software license in the three months ended June 30, 2025.

Table 4

DEFINITIONS AND NON-GAAP RECONCILIATIONS

(dollars in millions, except signings)

Non-GAAP Metrics

We report our financial results in accordance with GAAP. We also present certain non-GAAP financial measures to provide useful supplemental information to investors. We provide these non-GAAP financial measures as we believe it enhances investors’ visibility to management decisions and their impacts on operational performance; enables better comparison to peer companies; and allows us to provide a long-term strategic view of the business going forward. Moreover, we use certain of these non-GAAP financial metrics in measuring performance under our executive compensation plans.

Constant-currency information compares results between periods as if exchange rates had remained constant period over period. We define constant-currency revenues as total revenues excluding the impact of foreign exchange rate movements and use it to determine the constant-currency revenue growth on a year-over-year basis. Constant-currency revenues are calculated by translating current period revenues using corresponding prior-period exchange rates.

Adjusted pretax income (loss) is defined as pretax income (loss) excluding transaction-related costs and benefits, charges related to ceasing to use leased / fixed assets, charges related to lease terminations, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, amortization of acquisition-related intangible assets, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. Adjusted pretax margin is calculated by dividing adjusted pretax income (loss) by revenue.

Adjusted EBITDA is defined as net income (loss) excluding net interest expense, income taxes, depreciation and amortization (excluding depreciation of right-of-use assets and amortization of capitalized contract costs), charges related to ceasing to use leased / fixed assets, charges related to lease terminations, transaction-related costs and benefits, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.

Adjusted net income (loss) is defined as adjusted pretax income (loss) less the reported provision for income taxes, minus or plus the tax effect of the non-GAAP adjustments made to calculate adjusted pretax income (loss), and excluding exceptional items impacting the reported provision for income taxes. Adjusted net margin is calculated by dividing adjusted net income (loss) by revenue.

Adjusted earnings (loss) per share (EPS) is defined as adjusted net income (loss) divided by diluted weighted average shares outstanding to reflect shares that are dilutive or anti-dilutive based on the amount of adjusted net income (loss). The weighted average common shares outstanding used to calculate adjusted earnings (loss) per share will differ from such shares used to calculate diluted earnings (loss) per share (GAAP) when the inclusion of dilutive shares has an anti-dilutive effect for one calculation but not for the other.

Free cash flow is defined as cash flows from operating activities (GAAP), less net capital expenditures. Management uses free cash flow as a measure to evaluate our operating results, plan strategic investments and assess our ability and need to incur and service debt. We believe this metric is useful supplemental financial measures to aid investors in assessing our ability to pursue business opportunities and investments and to service our debt. Free cash flow is a financial measure that is not recognized under U.S. GAAP and should not be considered as an alternative to cash flows from operations or liquidity derived in accordance with U.S. GAAP. As part of the Company’s ongoing cash and commercial management strategy with customers and suppliers and as previously disclosed, the Company’s standard practice since the time of the Company’s spin-off from International Business Machines Corporation is to actively manage the Company’s working capital, including accounts receivables and accounts payables. This includes optimizing payment terms and conditions, accelerating certain cash receipts and delaying certain cash payments (including deferring vendor payments quarter to quarter), and undertaking other discretionary cash and working capital management initiatives. The magnitude of these practices (including deferrals) has varied from quarter to quarter and impacted the Company’s cash flows, including positively in certain periods. The effects of these practices have been and are reflected in the Company’s accounts payable, accounts receivable and cash flow balance, which are accounted for in accordance with GAAP. The Company’s working capital and cash flows have also reflected the impact of accrued contract costs in certain periods due to the timing of vendor billings. The Company may, from time to time, revise or adapt the Company’s cash and working capital management practices as it deems appropriate. Free cash flow for the three months ended June 30, 2026 and 2025, as well as the free cash flow guidance included in this press release or the Company's other earnings materials, reflect the historical and expected application of these practices.

Other Metrics

Signings are defined by Kyndryl as an initial estimate of the value of a customer’s commitment under a contract. The calculation involves estimates and judgments to gauge the extent of a customer’s commitment. We calculate this based on various considerations including the type and duration of the agreement as well as the presence of termination charges or wind-down costs. Contract extensions and increases in scope are treated as signings only to the extent of the incremental new value. Signings can vary over time due to a variety of factors including, but not limited to, the timing of signing a small number of larger outsourcing contracts, as well as the length of those contracts. Signings should not be considered a comprehensive measure of future revenue, and the conversion of signings into revenue may vary based on the types of services and solutions, customer decisions and other factors, which may include, but are not limited to, macroeconomic environment or external events. Management uses signings to monitor the performance of the business, as a measure of customer engagement and our ability to drive growth.

Hyperscaler-related annualized revenue run-rate is a metric that we define as revenue for the most recently completed fiscal quarter multiplied by four. Management believes this metric provides investors with an additional perspective regarding the current revenue-generating capacity based on recent operating performance and to assess business momentum over time. Hyperscaler-related annualized revenue run-rate is not a forecast, projection, or prediction of future revenue and should not be viewed as an indication of expected revenue for any future period.

Reconciliation of net income (loss)

to adjusted pretax income (loss),

adjusted EBITDA, adjusted net

income (loss) and adjusted EPS

Three Months Ended June 30,

(in millions, except per share amounts)

2026

2025

Net income (loss) (GAAP)

(55)

Provision for income taxes

(14)

Pretax income (loss) (GAAP)

(69)

Transaction-related costs (benefits)1

(38)

—

Stock-based compensation expense

Amortization of acquisition-related intangible assets

Impairment expense2

—

Other adjustments3

Adjusted pretax income (loss) (non-GAAP)

(37)

128

Interest expense

Depreciation of property, equipment and capitalized software

183

191

Amortization of transition costs and prepaid software

331

308

Adjusted EBITDA (non-GAAP)

512

647

Net income (loss) margin

(1.5)%

1.5%

Adjusted EBITDA margin

14.2%

17.3%

Adjusted pretax income (loss) (non-GAAP)

(37)

128

Provision for income taxes (GAAP)

(36)

Tax effect of non-GAAP adjustments

(4)

(3)

Adjusted net income (loss) (non-GAAP)

(26)

Diluted weighted average shares outstanding for calculating adjusted EPS

220.6

239.1

Diluted earnings (loss) per share (GAAP)

(0.25)

0.23

Adjusted earnings (loss) per share (non-GAAP)

(0.12)

0.37

1 Kyndryl’s reported results for the three months ended June 30, 2026 include a transaction-related gain of $40 million from the sale of a digital solutions subsidiary in the Principal Markets segment.

2 Kyndryl’s reported results for the three months ended June 30, 2026 include an impairment expense for the sale of a facility in the United States.

3 Other adjustments represent pension costs other than pension servicing costs and multi-employer plan costs, significant litigation costs and benefits, and currency impacts of highly inflationary countries.

Reconciliation of cash flows from operations

Three Months Ended June 30,

to free cash flow (in millions)

2026

2025

Cash flows from operating activities (GAAP)

(310)

(124)

Less: Net capital expenditures1

(91)

(97)

Free cash flow (non-GAAP)2

(401)

(222)

Net capital expenditures consists of capital expenditures less proceeds from dispositions of property and equipment.

Free cash flow for the three months ended June 30, 2026 includes transaction-related payments of $1 million and significant litigation payments of $11 million. See “Non-GAAP Metric Definitions and Reconciliations” for more information about our calculation of free cash flow.

Three Months Ended June 30,

Last Twelve Months Ended June 30,

Signings (in billions)

2026

2025

2026

2025

Signings1

3.9

3.2

14.2

18.3

Currency movements did not have a material impact on the year-over-year change in the three-month period ended June 30, 2026. Currency movements favorably impacted the year‑over‑year change by approximately 2 points in the twelve‑month period ended June 30, 2026.

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Aug. 05, 2026

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Entity Registrant Name

Kyndryl Holdings, Inc.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

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No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

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No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

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Namespace Prefix:

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Data Type:

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