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Private company

Thoughtworks Holding, Inc.

American computer programming services company, incorporated in Delaware1

In its 2024 annual report the company says: “We are a globally diversified business, with clients across all major verticals and geographies. Our global distributed agile delivery model operates where our clients are, with over 10,500 employees working across 19 countries on five continents—North America, South America, Europe, Asia and Australia.”4 It is headquartered in Chicago, Illinois.1

Last updated Oct 21, 2026.

Overview

  • IndustryServices-Computer Programming Services1
  • HeadquartersChicago, Illinois1
  • Incorporated inDE2
  • Business address200 East Randolph Street, 25Th Floor, Chicago, Il 606012
  • Filer categoryLarge accelerated filer2

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Thoughtworks Holding, Inc. ("Thoughtworks," the "Company," "we," "us," or "our") is a global technology consultancy that integrates strategy, design and software engineering to enable enterprises and technology disruptors across the globe to thrive as modern digital businesses. Thoughtworks exists to deliver extraordinary impact for clients, employees, partners and the communities we serve through our culture and technology excellence.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-1.8%Operating margin5
-6.1%Net margin5
-13.1%Revenue growth, 20235
-8.9%Return on equity5
0.37×Debt to equity5
$40.1MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue67¢$772.8M
  • Selling, general and admin29¢$331.8M
  • Interest2¢$26.2M
  • Income tax2¢$25.5M

Out of $1.1B in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2023

  • Capital spending18¢$9.0M
  • Kept or used elsewhere82¢$40.1M

Out of $49.1M of cash from operations.5

Financial statements

Revenue675$1.1B in 2023+46% since 2019
0$500.0M$1.0B$1.5B2019: $772.2M$772.2M20192020: $803.4M$803.4M2020+4%2021: $1.1B$1.1B2021+33%2022: $1.3B$1.3B2022+21%2023: $1.1B$1.1B2023−13%
Operating income675-$20.3M in 2023
-$50.0M0$50.0M$100.0M$150.0M2019: $75.9M$75.9M20192020: $120.5M$120.5M2020+59%2021: $48.8M$48.8M2021−60%2022: -$47.3M-$47.3M20222023: -$20.3M-$20.3M2023−57%
Net income675-$68.7M in 2023
-$150.0M-$100.0M-$50.0M0$50.0M$100.0M2019: $28.4M$28.4M20192020: $79.0M$79.0M2020+178%2021: -$575.0K-$575.0K20212022: -$105.4M-$105.4M2022+18229%2023: -$68.7M-$68.7M2023−35%
Fiscal year201820192020202120222023
Revenue$772.2M6$803.4M7$1.1B5$1.3B5$1.1B5
Cost of revenue$476.6M6$475.6M7$669.7M5$950.3M5$772.8M5
Selling, general and admin$203.9M6$189.8M7$333.9M5$372.8M5$331.8M5
Operating expenses$1.0B5$1.3B5$1.1B5
Operating income$75.9M6$120.5M7$48.8M5-$47.3M5-$20.3M5
Interest$26.4M6$25.8M7$25.5M5$22.5M5$26.2M5
Income before tax$16.2M5-$74.6M5-$43.1M5
Income tax$19.4M6$23.1M7$16.7M5$30.8M5$25.5M5
Net income$28.4M6$79.0M7-$575.0K5-$105.4M5-$68.7M5
Earnings per share$0.106$0.267-$0.245-$0.345-$0.225
Earnings per share (diluted)$0.106$0.267-$0.245-$0.345-$0.225
Shares (weighted, basic)254.3M shares5310.9M shares5317.7M shares5
Shares (weighted, diluted)254.3M shares5310.9M shares5317.7M shares5

Compare Thoughtworks Holding, Inc. with another company

Corporate structure

Thoughtworks Holding, Inc. sits at the top of its group. 11 entities, 7 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Thoughtworks Holding, Inc.

  • APAX IX GP CO. Ltd Filed SC 13D/A on Thoughtworks Holding, Inc., latest Nov 15, 2024 (3 filings since Feb 14, 2022)
  • Christopher Gerard Murphy Filed SC 13D/A on Thoughtworks Holding, Inc., latest Nov 15, 2024 (3 filings since Aug 12, 2024)
  • Think Investments LP Filed SCHEDULE 13G on Thoughtworks Holding, Inc., latest Nov 14, 2024
  • GIC Private Limited Filed SC 13G/A on Thoughtworks Holding, Inc., latest Feb 5, 2024 (3 filings since Feb 11, 2022)
  • Siemens Filed SC 13G on Thoughtworks Holding, Inc., latest Feb 10, 2022
  • Thoughtworks Holding, Inc. Chicago, Illinois
    • ThoughtWorks Australia Pty Ltd Subsidiary · Australia
    • ThoughtWorks Brasil Software LTDA. Subsidiary · Brazil
    • ThoughtWorks Deutschland GmbH Subsidiary · Germany
    • ThoughtWorks Pte. Ltd. Subsidiary · Singapore
    • ThoughtWorks Software Technologies (Beijing) Ltd. Subsidiary · China
    • ThoughtWorks Software Technologies (Chengdu) Ltd. Subsidiary · China
    • ThoughtWorks Software Technologies (Wuhan) Ltd. Subsidiary · China
    • ThoughtWorks Software Technologies (Xi’an) Ltd. Subsidiary · China
    • ThoughtWorks Technologies (India) Private Limited Subsidiary · India
    • Turing Topco LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Thoughtworks Holding, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$98.7M5 Dec 31, 2023$94.3M5 Dec 31, 2022+4.7%
Accumulated depreciation$72.6M5 Dec 31, 2023$55.5M5 Dec 31, 2022+30.9%
Property and equipment, net$26.0M5 Dec 31, 2023$38.8M5 Dec 31, 2022−32.9%
Operating-lease assets (leased space)$41.8M5 Dec 31, 2023$43.1M5 Dec 31, 2022−3.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$100.3M5 Dec 31, 2023$194.3M5 Dec 31, 2022−48.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$424.6M5 Dec 31, 2023$405.0M5 Dec 31, 2022+4.8%
Intangible assets, net (excluding goodwill)$387.2M5 Dec 31, 2023$397.0M5 Dec 31, 2022−2.5%
Indefinite-lived intangibles (excluding goodwill)$273.0M5 Dec 31, 2023$273.0M5 Dec 31, 20220%
Finite-lived intangibles, net$114.2M5 Dec 31, 2023$124.0M5 Dec 31, 2022−7.9%

Leadership

Who has led Thoughtworks Holding, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Guo Xiao2021–2024
  2. Christopher Gerard Murphy2021–2022
  3. Michael Sutcliff2024

Chief financial officer

  1. Erin Cummins2021–2024
2025
Board members and other officers (19)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ThoughtWorks Australia Pty Ltd Australia3
  • ThoughtWorks Brasil Software LTDA. Brazil3
  • ThoughtWorks Deutschland GmbH Germany3
  • ThoughtWorks Pte. Ltd. Singapore3
  • ThoughtWorks Software Technologies (Beijing) Ltd. China3
  • ThoughtWorks Software Technologies (Chengdu) Ltd. China3
  • ThoughtWorks Software Technologies (Wuhan) Ltd. China3
  • ThoughtWorks Software Technologies (Xi’an) Ltd. China3
  • ThoughtWorks Technologies (India) Private Limited India3
  • ThoughtWorks, Inc. Delaware3
  • ThoughtWorks, Ltd. England & Wales3
  • Turing Topco LLC Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Turing Holding Corp.Jun 14, 2021 to Sep 16, 20212

Timeline

  1. Nov 13, 20248-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights31
  2. Nov 12, 20248-K Results of operations32
  3. Aug 5, 20248-K Entered a material agreement; Results of operations; Exit or restructuring costs33
  4. Jun 21, 20248-K Executive or director change34
  5. Jun 18, 2024New chief executive Michael Sutcliff becomes CEO10
  6. Jun 6, 20248-K Shareholder vote35
  7. May 7, 20248-K Results of operations; Exit or restructuring costs; Executive or director change36
  8. Feb 27, 20248-K Results of operations37
  9. Feb 12, 20248-K Earlier financial statements no longer reliable38
  10. Nov 7, 20238-K Results of operations39
  11. Sep 18, 20238-K Shareholder vote40
  12. Aug 8, 20238-K Results of operations; Exit or restructuring costs41
  13. Aug 7, 20238-K Executive or director change42
  14. Nov 22, 2021New chief executive Christopher Gerard Murphy becomes CEO12
  15. Sep 14, 2021New chief executive Guo Xiao becomes CEO11

Calendar

When it reported results

  1. Nov 12, 2024Reported quarterly or annual results32
  2. Aug 5, 2024Reported quarterly or annual results33
  3. May 7, 2024Reported quarterly or annual results36
  4. Feb 27, 2024Reported quarterly or annual results37
  5. Nov 7, 2023Reported quarterly or annual results39
  6. Aug 8, 2023Reported quarterly or annual results41
  7. May 9, 2023Reported quarterly or annual results43
  8. Feb 28, 2023Reported quarterly or annual results44

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

189 filings to the SEC since October 2021: 3 annual reports, 12 quarterly reports, 23 major events, 113 insider forms, 11 large holders, 27 other. The latest 20:

  1. Nov 25, 202415-12G EDGAR
  2. Nov 15, 20244 EDGAR
  3. Nov 15, 20244 EDGAR
  4. Nov 15, 20244 EDGAR
  5. Nov 15, 20244 EDGAR
  6. Nov 15, 20244 EDGAR
  7. Nov 15, 20244 EDGAR
  8. Nov 15, 20244 EDGAR
  9. Nov 15, 20244 EDGAR
  10. Nov 15, 20244 EDGAR
  11. Nov 15, 20244 EDGAR
  12. Nov 15, 20244 EDGAR
  13. Nov 15, 20244 EDGAR
  14. Nov 15, 20244 EDGAR
  15. Nov 15, 2024SC 13D/A AMENDMENT NO. 2 TO SCHEDULE 13D EDGAR
  16. Nov 15, 2024SC 13D/A EDGAR
  17. Nov 15, 20244 EDGAR
  18. Nov 14, 2024SCHEDULE 13G EDGAR
  19. Nov 13, 2024SC 13E3/A AMENDMENT NO. 5 TO SCHEDULE 13E-3 EDGAR
  20. Nov 13, 2024S-8 POS REGISTRATION STATEMENT EDGAR

The 189 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

15 open-market trades by officers, directors and large owners since October 2021: 3 buys and 12 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 27, 2023Parke JoannaSee RemarksSale16,005$5.00$80.0KForm 4
Mar 7, 2023Cummins ErinChief Financial OfficerBuy14,500$7.63$110.6KForm 4
Mar 2, 2023Xiao GuoChief Executive OfficerBuy35,000$7.64$267.4KForm 4
Nov 23, 2022Davis IanDirectorBuy25,000$8.00$200.0KForm 4
Nov 22, 2022Murphy Christopher GerardChief Revenue & Client OfficerSale4,124$8.00$33.0KForm 4
Nov 22, 2022Mandapaty Sai KrishnaChief Commercial OfficerSale5,139$8.02$41.2KForm 4
Nov 22, 2022Woods-Moss JulieChief Marketing OfficerSale5,000$7.96$39.8KForm 4
Oct 31, 2022Ferguson AngelaChief Transformation OfficerSale10,000$9.63$96.3KForm 4
Sep 30, 2022Ferguson AngelaChief Transformation OfficerSale20,000$10.84$216.8KForm 4
Sep 20, 2022Mandapaty Sai KrishnaChief Commercial OfficerSale16,118$11.82$190.4KForm 4
Sep 20, 2022Murphy Christopher GerardChief Revenue & Client OfficerSale14,479$11.82$171.1KForm 4
Sep 20, 2022Ferguson AngelaChief Transformation OfficerSale2,138$11.81$25.3KForm 4
Aug 18, 2022Ferguson AngelaChief Transformation OfficerSale2,000$13.94$27.9KForm 4
Jul 14, 2022Ferguson AngelaChief Transformation OfficerSale2,000$14.59$29.2KForm 4
Jul 5, 2022Ferguson AngelaChief Transformation OfficerSale4,000$14.36$57.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Thoughtworks Holding, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARThoughtworks Holding, Inc.1
  • CIK0001866550
  • Filer statusLarge accelerated filer1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)7371 Services-Computer Programming Services1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address200 East Randolph Street, 25Th Floor, Chicago, IL 606011
  • Phone312-373-10001
  • Shares outstanding324,726,782 as of Nov 7, 20249
  • Public float$878.6M as of Jun 30, 20235
  • On EDGAR sinceJun 14, 20211
  • Filings247 in all: 4 (127), 8-K (22), 3 (21), 10-Q (10), CORRESP (7), SC 13E3/A (5), UPLOAD (5), DEFA14A (4)1
    All 37 form types

    10-K (3), DEF 14A (3), PRER14C (3), SC 13D/A (3), SC 13G (3), 10-Q/A (2), 4/A (2), 8-K/A (2), ARS (2), S-1/A (2), SC 13D (2), SC 13G/A (2), 144 (1), 15-12G (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERT (1), DEFM14C (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), PREM14C (1), S-1 (1), S-8 (1), S-8 POS (1), SC 13E3 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2024
    Quarterly report (10-Q) Nov 12, 2024
    Proxy statement (DEF 14A) Apr 12, 2024
    Latest 8-K (8-K) Nov 13, 2024

Sources

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