Xerox reports second-quarter results, ties in with Kyocera Document Solutions for cut-sheet inkjet press
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Xerox Holdings Corp. reported second-quarter revenue was flat, at $1.58 billion, while the GAAP net loss declined by declined by $124 million to $(106) million, or $(0.87) per shar.
“Completing the Lexmark acquisition marks an important milestone in the company’s Reinvention, creating a vertically integrated market leader with a broader, differentiated set of workflow and technology solutions for our clients and partners,” said Steve Bandrowczak, CEO at Xerox. “Our second quarter reflects the improved resiliency of financial results afforded by Reinvention. Growth in IT and Digital Solutions helped deliver stable revenue, and a focus on costs preserved profitability amid a volatile operating landscape. In the second half of the year, we’re focused on executing Reinvention through the integration of Lexmark, laying the foundation for growth in revenue, adjusted operating income and free cash flow in 2026.”
Second-Quarter Key Financial Results
B/(W) % Change
(in millions, except per share data) Q2 2025 Q2 2024 YOY B/(W) YOY
| Revenue | $1,576 | $1,578 | $(2) | (0.1)% AC
(1.1)% CC1 |
||||
| Gross Profit | $451 | $520 | $(69) | (13.3)% | ||||
| Gross Margin | 28.6% | 33.0% | (440) bps | |||||
| RD&E % | 2.7% | 3.2% | 50 bps | |||||
| SAG % | 23.4% | 24.9% | 150 bps | |||||
| Pre-Tax (Loss) Income2 | $(60) | $25 | $(85) | NM | ||||
| Pre-Tax (Loss) Income Margin2 | (3.8)% | 1.6% | (540) bps | |||||
| Gross Profit – Adjusted1 | $461 | $528 | $(67) | (12.7)% | ||||
| Gross Margin – Adjusted1 | 29.3% | 33.5% | (420) bps | |||||
| Operating Income – Adjusted1 | $59 | $85 | $(26) | (30.6)% | ||||
| Operating Income Margin – Adjusted1 | 3.7% | 5.4% | (170) bps | |||||
| GAAP Diluted (Loss) Earnings per Share2 | $(0.87) | $0.11 | $(0.98) | NM | ||||
| Diluted (Loss) Earnings Per Share – Adjusted1 | $(0.64) | $0.29 | $(0.93) | NM |
Second-Quarter Segment Results
B/(W) % Change
(in millions) Q2 2025 Q2 2024 YOY B/(W) YOY
| Revenue | |||||||||
| Print and Other3 | $1,366 | $1,494 | $(128) | (8.6)% | |||||
| IT Solutions3 | 213 | 84 | 129 | 153.6% |
Intersegment Elimination4 (3) — (3) NM
| Total Revenue | $1,576 | $1,578 | $(2) | (0.1)% |
| Profit | ||||
| Print and Other3 | $65 | $107 | $(42) | (39.3)% |
| IT Solutions3 | 10 | 1 | 9 | NM |
| Corporate Other5 | (16) | (23) | 7 | (30.4)% |
Total Profit $59 $85 $(26) (30.6)%
In other Xerox news, the company announced it has agreed with Kyocera Document Solutions Inc. to source Kyocera’s high-speed cut-sheet inkjet production presses. This collaboration marks the company’s re-entry into the cut-sheet inkjet (CSIJ) market and significantly broadens its production print portfolio.
Through this partnership, Xerox will offer clients high-performance, cost-effective color inkjet presses integrated with the Xerox Production Ecosystem – including Xerox FreeFlow Workflow Automation Software, finishing, and remote service. The new platform will deliver an end-to-end solution tailored to the evolving needs of modern print providers.
“This is a pivotal moment for our production print business,” said Terry Antinora, senior vice president and head of product and engineering at Xerox. “Our re-entry into the cut-sheet inkjet market allows us to diversify our portfolio, meet growing client demand for speed and efficiency, and reinforce our commitment to leadership in digital production.”
Building upon its Reinvention, Xerox is realigning its production print business toward higher-value, growth segments. According to IT Strategies Cut Sheet Production Inkjet Forecast 2025 Global Product Installs (Units) are expected to increase by more than 13% CAGR between 2025-2030. The addition of CSIJ products complements flagship offerings like the Xerox Iridesse Production Press, Xerox Versant Presses, and Xerox PrimeLink printers and presses, while enabling Xerox to address new growth areas with innovation and scale.
This agreement underscores the company’s strategy to deliver differentiated, ecosystem-enabled offerings that help clients scale profitably, streamline operations, and reduce total cost of ownership.
“By combining Kyocera’s proven inkjet technology with Xerox global reach, client trust, and workflow automation, we’re delivering truly unique solutions for production printers who demand reliability and a return on their investment,” said Keisuke Koyama, Executive Officer and Senior General Manager of the Corporate Marketing Division at Kyocera Document Solutions Inc. “Together, we are enabling our clients to compete more effectively in the fast-evolving production print landscape.”
The new presses, sold and serviced by Xerox, will be branded under the Xerox name and enhanced with Xerox-developed software, integration, and service capabilities. Availability and model-specific details will be announced later this year.
